Op-Ed: George Soros explains how to keep the economy from tanking during the coronavirus pause (via latimesopinion)
The catastrophic collapse in U.S. employment due to the coronavirus crisis demands far more from the federal government than it has done so far.analysis by the research center INET Oxford
The goal, until it is safe for people to return to work, must be to maintain the economy in “sleep mode.” That will require keeping businesses and workers as intact as possible, ready to “wake up” and return to work when the health crisis passes, in order to drive a strong recovery. How? The federal government must immediatelyOther countries have done exactly this.
The House proposal would cover wages up to $100,000 per employee and has provisions to encourage firms to quickly rehire any employees laid off since March 1. Crucially, it would also cover healthcare benefits, as 160 million workers and their family members currently rely on employer health insurance.Importantly, the proposal outlines ways this vital support could be distributed to companies quickly, directly and electronically, rather than through banks and bureaucracy.
While nothing is simple in an election year, if there is one proposal that should receive bipartisan support, this is it. GOPof Missouri has independently proposed a paycheck guarantee similar to the one enacted by the Conservative government in the U.K. For Democrats the protection of worker incomes and healthcare, particularly for lower-income workers, is critical.
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