$1,000 monthly checks for everyone. Yet again, this is getting even more attention. I have all the details and the newest updates for you right here on this topic. As I am your one and only daily advocate, and I’m very much dedicated to you and this community to do all the research and break it all down into these short topics so that you can continue to get the latest details hot off the wire each and every day as this information is being released. There’s a lot going on right now. Things are changing rapidly. But my dedication is to be here right by your side to help you out in any way that I possibly can during this very busy time.
All right, So as all of us continue to live through this very weird time that we’re living through right now, prices continue to rise on virtually everything out there.
Believe it or not, there is still a lot of talk about monthly stimulus checks, monthly checks, guaranteed basic income programs, tax credits, tax rebates, voucher programs, and all kinds of different programs out there right now to get money into the pockets of the people. Some of these programs are pointing toward a one-time lump sum payment. Some of them are pointing toward tax rebates like a one-time tax rebate or tax credit. There are also these voucher programs on a small monthly basis. And there’s also talk about monthly ongoing checks in a much larger amount like I’m talking about here in this topic, $1,000 for everyone.
So I do want to give you the latest updates on this. There’s actually some new information that just came out about this from one of the huge advocates for monthly checks, otherwise known as guaranteed basic income or universal basic income, which are essentially pretty much the same thing, ongoing monthly checks for the low income or in this case, pretty much everybody. So I want to talk to all the details on this and let you know where we currently sit, as well as the lawmakers that are out there right now who are currently in support of either $1,000 or even $1,200 every single month for essentially everybody in the United States. Right. Sounds too good to be true.
But honestly, this stuff is out there right now. And I want to talk through the latest details on this right here. All right. So let’s quickly talk about Andrew Yang. Does that name ring a Bell?
A little bit. So remember, he was previously a few years ago. He was a prior presidential candidate well, he is one of the guys who is a huge advocate, and he vocalizes for guaranteed basic income or universal basic income right here in the United States, literally a no strings attached $1,000 check, pretty much for everybody on an ongoing monthly basis. Well, here’s what’s interesting. He was just out talking about, once again, universal basic income.
And again, he was talking about the stimulus checks from last year. He actually pointed out some very interesting statistics. I want to lay those out for you right here really quickly. So here’s the deal. He specifically cited the Cares Act.
This is the stimulus package that was passed in early 2020. Actually, it was on March 27 of 2020. It was $2.2 trillion. But here’s the thing. We’ve been hearing so much lately that, oh, the stimulus checks have caused all the inflation.
Well, have they really? Because here’s the thing. What Andrew Yang is pointing out right now is actually pretty eye-opening, and I want to lay these numbers out for you. So in the Cares Act, again, it was $2.2 trillion. Within that, all of us got a $1200 stimulus check.
That was the first of the three stimulus checks. Remember that? Let me lay this out for you. Of all that money, the $2.2 trillion, 17% of it, again, this is from Andrew Yang. 17% of that two $2 trillion was actually sent out in the form of stimulus checks.
The other 83% of that money was sent out to corporations, was sent out through unemployment boost benefits. Remember that? It was also the PPP program, as well as a whole host of other programs out there sending billions and billions and billions of dollars out into the economy. Right. The stimulus checks only accounted for a very small percentage of it, 17% of that total package.
The $2.2 trillion package, only 17% of it was stimulus checks. The other 83% was other programs. So let me ask you, do you think out of the $2.2 trillion, do you think the 17% is causing inflation or do you think the 83% I think all of us can probably agree. Right. It’s the 83% that was causing the inflation.
It’s all the other programs. Stimulus checks probably had a very minor impact to inflation. Here’s what else is interesting. Let’s fast forward another year now. So again, this is a year after the Cares Act and a year ago from today.
Right? Well, it was about a year ago from today. It was the American Rescue Plan. It was passed back in March again of 2021. March 11, 2021.
It was signed into law by President Biden. This one was $1.9 trillion. This one contained the $1,400 stimulus checks. So technically, this one contained a stimulus check that was $200 more per person. And it was actually further reaching, as in it went out to everybody.
Well, I shouldn’t say everybody. It went out to about 85% of people. This one was actually further reaching. The first $1200 check was one $200 for adults and $600 for dependence. Remember that?
However, the one $400 check was one $400 for everyone adults dependents. It was $1400 across the board. So by default, the $1400 check actually cost the government significantly more in that package. However, I still ran the numbers for you. This one actually accounted for about 20% of the $1.9 trillion American rescue plan.
So of the $1.9 trillion in that plan, about 20% of it, again, just kind of roughly rounding here, about 20% of that was actually in the form of one $400 stimulus checks. So again, what about the other 80%? That was all these other programs out there, right? So again, let me ask you, do you think the 20% is causing the inflation or do you think the 80% is causing it? Again, I think all of us can probably agree with where we’re going with all this.
So the moral of the story is Andrew Yang, as he was just out talking about this, was saying that the stimulus checks had a minor impact, a minor effect on inflation, especially because of this much. He went on to say that last year money in the hands of the people for a very short amount of time had minor effects on inflation because especially here we are 13 months later from when the last stimulus checks went out, and inflation is still going through the roof at about 1% every single month. So money came out 13 months ago into our hands through stimulus checks. And now here we are 13 months later and still saying stimulus checks cause the inflation. I mean, let’s get real here, right?
Does anybody have any of that money from the stimulus checks a year ago? I’m going to go ahead and bet that probably not right. I certainly don’t. I’m not sure about you, but that money came in and it went right out the door pretty fast. So I think that’s the case for many people out there.
So there’s no way that stimulus checks, even 13 months later, could still be causing the inflation that we’re currently dealing with right here, right now. So basically, it goes on to this. Andrew Yang is a huge proponent of ongoing monthly checks, $1,000 every single person, no strings attached. That is the best thing about guaranteed basic income or a universal basic in type of program, otherwise known as essentially a monthly stimulus check. That’s literally all it comes down to.
It’s just a different name. It’s a cute, fun name for literally the exact same thing, an ongoing monthly stimulus check. It’s all the same thing, just a different name. But anyway, as of right now, there are multiple lawmakers out there who happen to be progressive. They’re all progressive representatives who are actually in favor of anywhere between $1,000 and $1,200 ongoing every single month for essentially everybody in the United States.
However, they do have income parameters around who would actually get this. Now, the proposals out of Andrew Yang. I did not see any income thresholds as far as who would get it. Basically, Andrew Yang says anybody 18 or older would be getting the checks, $1,000 a month. Right.
Can you imagine what that would do for our lives? $1,000 right now, that’d be pretty amazing. But here’s the thing. I think all of us can probably agree, not everybody needs an ongoing monthly check. Does the guy down the street who earns 200 grand a year and has, I don’t know, a $500,000 house, does he need a $1,000 check every month?
I’m going to guess no, probably not. Right. Of course, he would probably want it. It gives them some new golf clubs every month or so or maybe put it down for a new golf cart or who knows what people like that by. Honestly, I don’t really know.
But my point is, of course, he would probably want that money. But does he need it? No, he doesn’t need it. It’s the lower income people, as we’ve seen in so many reports now, the people that are earning $50,000 or even better, $40,000 of income or less are the ones who need the ongoing payments. Well, according to the proposal that is out there right now from this group of Democratic Progressives who want to send out $1,000 or $1,200 every single month for anybody earning under $75,000.
Now, this would be a nationwide program. This is not on the state level. This is not on the city level. This is not in the county level. This is a nationwide level.
In other words, the IRS, the treasury, they would work together on the federal level, and they would be sending out these checks on an ongoing basis, essentially, to everybody who is an individual with an income under $75,000 or a married couple with an income under $150,000 and again, an extra $600 bonus for anybody who has a dependent under the age 18. Right. So anyway, so Andrew Yang was just out talking about this, and I thought it was very interesting.
One more thing I want to throw out there. I know that a lot of you in this community probably don’t care that much about digital currency, as in cryptocurrencies, but I want to lay this out for you. Andrew Yang is also talking about cryptocurrency, and he went on to say that cryptocurrency is pretty much the easiest way to instill or Institute a guaranteed basic income program. We’ve talked about this for a very long time now. I’ve been talking about this for a year and a half or even more right here on the channel where I’ve been saying they’ve been talking about as in the central bank.
The Federal Reserve has been talking about this. In fact, they are currently working on this right here, right now. They’re calling it CBDC Central Bank digital currency, otherwise known as Fed Coin. It’s literally a digital currency that will work. It will work side by side with the United States dollar, the green stuff that we carry around.
Well, that’s going to be obsolete here at some point in the future. Not sure when, but it will be obsolete at some point and everything will be digital. The Federal Reserve is working on Fed Coin. Well, here’s the thing. If everybody had a digital wallet, right?
So just stick with me for a minute. I know this is kind of complex, but it’s basically what we’re going into at some point here in the future where everybody essentially has a digital wallet. So rather than a wallet you carry in your pocket or your purse, it’s literally a digital wallet. The government has control of it. They have access to it.
And they could literally just plop a few digital Fed coin right into your digital wallet every single month. It’d be super easy. It’d be instantaneous. Literally, you’d have somebody sitting on a computer or honestly, you’d have one person put it in one time, and then it would be automated every single month, the first of the month, the 10th of the month, the 15th of the month, whatever it happened to be, all of a sudden the algorithms and basically the monkeys behind the machines would basically push the button and boom, there you go. You got your Fed coin right into your digital wallet.
Sounds kind of like futuristic, right? But no, that’s exactly where the world is going. In fact, China is also working on their digital Yuan. They’ve been working on it for almost ten years now. And there are many countries around the world that have also been working on digital currencies and getting these sending them out in the form of a UBI.
In other words, a universal basic income payment. Literally every single month, the money just falls right into your digital wallet, and boom, there you go. You’ve got your little stipend every single month. So anyway, this is not a new concept. They’ve done it in many countries around the world.
And it’s something that they’re examining right here in the United States as well when it comes to CBDC and Fed coin. But again, we can get into that in much more detail in a separate topic. But the moral of the story is, Andrew Yang has basically been saying digital currency is the best and fastest way to Institute a UBI or guaranteed basic income program. Literally, they just plop the digital currency right into your account every single month, super fast, instantaneous. And there you go.
You got your money and you do whatever you want with it. I don’t know that’s kind of where the future is going. Anyway, this is the update I have for you as of right now, some interesting things floating around out there right now. I want to keep you updated with everything going on, even if it talks about digital currency and CBDC and Fed coin and digital wallets and all kinds of weird things. That sounds like it’s right out of some cartoon episode, but really it’s not.
It’s where we’re going in the world. So anyway, I just want to keep you updated with everything going on here, as I do get more information on any of this. Of course. I’ll be right back here for you. Breaking it all down and letting you know what is actually going on in this weird world that we’re living in anyway.
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