Three bold economic proposals for virus response

Three bold economic proposals for virus response
Donald Trump's presser on the coronavirus (Image: YouTube screen grab via MSNBC)

[Ed. – Could work over the short term.]

Income Tax Suspension for Middle/Lower Brackets: Cutting the payroll tax is a good start, but it is not nearly enough. For all but the highest income brackets, there should be zero federal taxes collected for an indefinite time. Give the secretary of the Treasury (or even the Federal Reserve chair) control over when regular tax rates resume. …

Double Unemployment Insurance Payments: Since the 0% tax rate will not immediately assist those suddenly out of work, temporary assistance to the displaced must grow massively. Like the tax suspension, this temporary benefit should revert to prior policy once taxes resume for middle- and lower-income citizens. Think of the hard-working Americans being let go right now from restaurants alone. They deserve our help, and our economy will need them when this crisis abates.

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