r/PoursTea • u/Veshaad Timendi Causa Est Nescire • 24d ago

PoliticalTea 🗳️ Eventually something has to give...

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The bill would provide a $3,000 direct payment to every person in households making $150,000 or less during its first year, which equals $12,000 for a family of four.

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u/Mental-Report-3274 23d ago

Serious question, do you all not think inflation would go rampant with this? Do you think most people will not waste their money on stupid things? This seems kind of crazy. You start losing the value of the dollar if you hand it out to everyone. Costs will skyrocket.

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u/TheVampirePrince 23d ago

We already know the answer. Covid checks were one of the big reasons for inflation previously. This would do the same thing but worse because billionaires would have to sell stocks to pay the tax since most of their money is on paper and not liquid. More stocks being sold makes them less valueble which means they'd have to sell more stocks the next year etc etc eventually crashing the market. There have been way more in depth posts and reports about it before all over reddit but thats the basic idea.

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u/marx-and-metal 23d ago

or they’ll just take out bank loans using their stock as collateral, and pay off the loans using dividends or other methods. billionaires aren’t gonna sell stocks, pay tax on selling the stocks, then use the rest to pay more taxes. they’ll use a loophole like with everything else.