After the coronavirus outbreak, we don’t need universal income, we need a rehiring tax credit to get back to work:
http://dailytorch.com/2020/03/after-the-coronavirus-outbreak-we-dont-need-universal-income-we-need-a-rehiring-tax-credit-to-get-back-to-work/
Congress is passing plans to provide for long-term paid sick leave and family medical leave to tens of millions of Americans, actively encouraging people to stay home, and essentially telling employers to lay off employees while brick and mortar businesses, schools and government offices are all closed, all in a bid to slow down the spread of the Chinese coronavirus. But by actively encouraging unemployment, the federal government has an important responsibility to ensure that these relief measures are temporary, and that when the virus passes, everyone gets back to work as soon as possible. With so many millions of Americans suddenly leaving the labor force, this will almost certainly cause a recession. The question is how big. That is why as soon as the virus passes, the unemployment assistance should automatically transform into a rehiring tax credit for employers to quickly get back up and running. For essentially the same price as the unemployment assistance being dispensed, the government could provide tax credits to businesses to bring back and rehire everyone they put on unpaid sick leave at the beginning of the shutdown. In principle, that would shorten the duration of expanded government assistance, hopefully saving taxpayers billions and ensure that when this over, the nation can get back on its feet as quickly as possible. What do you think?
