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A comment on U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Recession. Parent comment

Re:U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Rec... by lisper on Wednesday April 29, 2020 @12:53PM (#23021335)
There is no question that this could be done. In fact, I think that this is a fairly reasonable policy. It effectively amounts to a flat tax on wealth to fund UBI. Personally I would prefer a progressive tax to "flatten the curve" more at the top, but I'd settle for an inflation-based UBI.

But that is NOT what is happening at the moment. What is happening at the moment is almost the exact opposite: money is being injected mostly at the top in order to prop up asset values, with a little bit coming in to the bottom via the $1200 relief checks, and the middle via PPP.

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Re:U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Rec... by ganeshkrishnan on Wednesday April 29, 2020 @05:44PM (#23024760)
That's right. Trickle down economy is not ideal. It was a worthy experiment and it has failed. It's best to give MMT a shot and provide UBI to the lower rung of the society.
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