Mark Cuban, "spend it or lose it" idea.
May 17, 2020 at 11:04 pm
(This post was last modified: May 17, 2020 at 11:11 pm by Brian37.)
I am having debate with normally a guy I agree with 99% of the time. I think this guy is smart and hates the GOP as much as I do.
But here is the idea, tell me what you think of it.
Mark Cuban of Shark Tank agrees with giving middle class workers , the poor and mom and pop shops bailouts. And in the short term, I agree with him. What I do not agree with is forcing people to spend what you give them. I fail to see why it would be a bad thing, to say, after you get the important things, like rent and food and child care paid, what would be wrong with putting what you don't spend in the bank.
I even agreed with this guy that you should spend locally as much as you can. But I don't think desperate people who have a shot to save for the future should be denied that either. People in the middle and working class, have had their long term plans disrupted too. Many do save for the future, but now they cant.
It is a matter of prioritizing to me.
First things first. Pay your bills.
Help out others when you can.
Then, and only then, if you have anything left over, bank it. Odds are, especially on the low end, you won't.
And if you don't need it, don't take it.
Mark is merely offering a short term bandaid. Structurally long term it doesn't change the 40 years of bad policy that put us into this position. You cant simply consume your way to prosperity, even if you are helping out mom and pop shops. The big guys are still going to pick on anyone not in their weight class.
But here is the idea, tell me what you think of it.
Mark Cuban of Shark Tank agrees with giving middle class workers , the poor and mom and pop shops bailouts. And in the short term, I agree with him. What I do not agree with is forcing people to spend what you give them. I fail to see why it would be a bad thing, to say, after you get the important things, like rent and food and child care paid, what would be wrong with putting what you don't spend in the bank.
I even agreed with this guy that you should spend locally as much as you can. But I don't think desperate people who have a shot to save for the future should be denied that either. People in the middle and working class, have had their long term plans disrupted too. Many do save for the future, but now they cant.
It is a matter of prioritizing to me.
First things first. Pay your bills.
Help out others when you can.
Then, and only then, if you have anything left over, bank it. Odds are, especially on the low end, you won't.
And if you don't need it, don't take it.
Mark is merely offering a short term bandaid. Structurally long term it doesn't change the 40 years of bad policy that put us into this position. You cant simply consume your way to prosperity, even if you are helping out mom and pop shops. The big guys are still going to pick on anyone not in their weight class.
