Kevin Bae

Non-Social in a Socially Networked World

The U.S. income boost shell game

The government of the United States is playing a dangerous shell game with our money. Look at the headline above. This is the fakest of fake news that I have ever read. It gets even worse in the article.

U.S. household income jumped 10% in January as the government delivered stimulus payments to households and consumer spending rose 2.4%, priming the economy for a burst in growth this year.

The increase in income was the second largest on record, eclipsed only by last April’s increase when the federal government sent an initial round of pandemic-relief payments, the Commerce Department said Friday. January’s rise in consumer spending was the first since October.

Under a $900 billion stimulus program signed by former President Donald Trump in late December, the federal government has been sending one-time cash payments of $600 to most households. It also has been paying jobless workers $300 a week on top of their normal unemployment benefits. Meanwhile, job growth resumed in January after a drop in December. And higher-income households, unable to travel or dine out, have built up a high level of savings.

Wall Street Journal

This is the government sending money to citizens. Where do they get this money? From us. Except the federal government isn’t redistributing wealth this time around. There isn’t enough money in existence to take from one taxpayer to give to another. They’re printing this. This money is created out of whole cloth. Trump is just as guilty as Biden, Obama, Bush, and others with this.

If we buy into the premise that American incomes get boosted by stimulus passed by congress I propose a stimulus of $1,000,000 per person. We can instantly create 300 million millionaires!! Think of the income and economic growth from that.

One day there will be no money to put under another shell for you to find. Or the money you do find will be equivalent to those million dollar Zimbabwe bucks.

Meet the new U.S. Dollar