Biggest Government campaign of 2021

  Biggest Government campaign of 2021 US government incentives are seen as the biggest government campaign of 2021. The federal government is ready to donate enough to American families to buy a 1-month vacation, a Harley Davidson motorcycle or 200 GameStop shares. Most buyers will not spend the money this way, but they will benefit from unprecedented generosity in the same way. Congress is expected to pass President Biden's $ 1,9 trillion US Rescue Plan very soon. The plan in question means at least 10 thousand dollars for a family of four in 2021. This aid package will not be the first financial aid provided by the government during the ongoing Covid-19 pandemic. However, financial incentives over the past 12 months are thought to overshadow aid in the Great Recession of the 1930s and the 2008-2009 crises. Yukarda bahsedilen 10 bin dolara ilave olarak yapılacak yardımlar şöyle açıklanmaktadır: Biden's aid package includes a total of $ 8,000 for families with an annual income of less than $ 150,000, with $ 1,400 per person support, in addition to $ 600 aid in January. In addition, Biden's aid package includes information that families with children under the age of 6 will receive different amounts of support and tax exemptions will be introduced. The package includes many possibilities, such as an increase in the weekly wages of those who benefit from unemployment insurance, a tax cut in child care tax and some tax cuts for those with income over 150 thousand dollars.

Biggest Government campaign of 2021

The amount of aid is so great that it has reached the "universal basic income test (UBI) of the United States" in Raymond James' research note published in February. As is known, UBI is a strategy for every adult person to spend as they wish. Democrat Andrew Yang, who ran for the Presidency in 2020, offered voters $ 1,000 UBI, but he could not win. The aids made in 2021 will not be one-off like UBI. Of course, it should not be forgotten that these aids will bring a debt of 422 billion dollars in addition to the existing 28 trillion national debt. However, when Biden won the election, he promised an additional payment of $ 2,000 and fulfilled these promises. The aid that is now considered in 2021 will also be added to this amount. After fulfilling this promise, Biden may not demand further incentive payments. However, it is assumed that it will be difficult to recover the concessions made and that these aid and cuts will be permanent.

Can the United States afford all these expenses?

In addition to the debt that was close to 6 trillion dollars with the actions of Biden, the incentives made since March had reached 4 trillion. Of course, with these aids, it is predicted that the tax revenues of the country will increase by asking many people to return to work and companies to earn income by working. It is stated that Republicans have no right to criticize the current situation, reminding that they added the GOP deficit in 2017 to the debt. However, it looks like they will have more to complain about later in the year when Biden unveils an infrastructure program that could exceed $ 2 trillion.  

Source:Yahoo.Finance

 

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