What has really caused inflation?
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- Опубліковано 12 чер 2024
- Gary explains what's caused inflation in under 4 minutes.
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Performed by Gary Stevenson
@garyseconomics
Keep banging the drum Gary
Gary, is it worth creating a few simple diagrams that show working people, asset people, the relative wealth, the tax rates they pay, maybe as bubbles of different sizes to reflect the amounts/rates?
Large bubble called "Working People" with a bubble inside showing 20%, 40% tax rates etc.
Other side of the page have another large bubble called "Asset People" with a smaller tax bubble inside showing how much smaller their tax rate is.
We would visually see the difference in tax rates.
A simple effective slogan phrase to match the image. Something we the people can repeat, repost, say to politicians and on social media platforms.
Another would be a diagram of money and bills and where our bills money ends up - in the pockets of the rich.
With this have a diagram of reasonable increases in costs versus the actual increases (these exploiters are charging us, and they're using government laws against us. No justice in the terrible price rises.)
Maybe graphs are better for this. Some prices are up by over 300% (25g of ground white pepper) which is way above increases in costs.
The failure of governments to actually work for the people should be a crime against democracy. We need new laws that make it illegal for a government to fail to act on behalf of the people. A form of democratic treason.
Yes diagrams would help me !
Definitely *not* a simple diagram, but Piketty's Capital and Ideology goes into both the causes and effects of inequality in great depth across several different societies. There are a few graphs that cover contributions and effective tax rates, contrasting the bottom half and the top centile.
The videos you do are great. I like your analysis on inequality.
The bottom 80% of people are NOT net tax payers. The only people paying taxes are the "rich"
good edit love the new style. Background music is a bit high
Totally agree ..the music is a little distracting, a problem with many UA-cam videos. But I very much like the new style too and as ever Gary is spot on.
Agree the music is too loud / annoying!
Please turn it down so it doesn't distract the message or the listener! X
Not read it yet but seen your photo on the front of the Telegraph supplement
Thank you for these excellent, clear and informative presentations. I'm looking forward to reading your book. Please keep up the good work.
Love Gary and all the work he does to inform everyone. Tax the super wealthy and change life for everyone.
Absolutely! Building a strong investment that isn’t controlled by the government is a smart move in todays unpredictable economy. digital assets offer a unique opportunity for financial independence.
You’ll need the assistance of a professional to avoid loss
Yes I do recommend Cathie D. Wood
+1208
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Great videos! Let’s keep spreading the message!
Spread the word
👍 keep the message clear. What is rich? Why shift taxes from income to wealth?? IMHO, you need this for each and every person thats new to the channel, due to the stigma that is tax, and the fact no one wants to pay any, let alone more! Top job Gary (and team) and thanks again for the discount code 😁
We still need to tax income -all income, not just wages.
It wouldn't matter that the rich have lots of money if they didn't use it to create inflation for the majority.
They couldn't create inflation if they had no assets. Just ban asset ownership. Of course this makes investment an issue. So all investment transactions must be between investor and producer, never a single share traded between investors. That way they can passively generate wealth only if the company pays divident, but their passive income won't actually snowball without also snowballing productivity. Which is good for the rest of us. And we can let them keep their cash, if they don't improve productivity by investing, it will drain away eventually through their own spending choices. Either way is fine by me: More good things for everyone or less inequality for everyone. I don't see a downside.
It’s amazing that people in this day can’t figure out how inflation is created
And just like to blame businesses or wealthy individuals for inflation.
People don’t know that inflation can only happen when government has created money and dump it into the market.
The currency is devalued and inflation will rise. It’s a double edged sword really.
Money value going down
Cost of living and goods is rising.
I dont think it’s so crazy to expect the rich to be taxed as much as the less economically affluent. The treatment must be the same.
That would be an improvement but still the rich would get richer and the poor would get poorer, i.e. inequality keeps getting worse. Because the rich own most assets, like, by far. And assets are a source of passive income. The ownership discrepancy between the poorest 90% and the richest 10% (or wherever you want to put the distinction) is not even funny. So we either tax wealth progressively, tax income progressively, or tax passive income more than income that comes from actually producing goods or services. Or a combination of the three.
If you want to let individuals get as rich as they can but prevent the formation of dynasties (i.e. maximum economic freedom without longterm compounding inequality), then you primarily tax intergenerational wealth transfer (i.e.inheritances) beyond a certain amount (ten years of minimum wage income, for example). This way you can still have CEOs earning a thousand times minimum wage, and large property owners that collect their property when young can retire early on their passive income, but their kids will have to earn their own assets for a living.
If you want work to be rewarded, then the focus should be in taxing passive income more than income from productive activities. Or just forbid private ownership of land entirely. IF you prevent passive income, then more people will produce actually useful stuff to earn their wages, which leads to the highest productivity,. More nice things for everyone.
Another option. Let's say earning five times more than another for the same 40 hours of work is plenty, i.e. when you think everyone hard worker deserves to feel at least 20% as useful as the highly skilled specialists. For example, your garbageman has done more for your wellbeing than your lawyer, so don't they deserve to feel at least 20% as useful and respected? Then you want progressive income tax.
If you want a world where you can build up a decent amount of wealth, and work is rewarded, and everyone has at least a baseline of self-respect, then do all three is a lesser amount. As long as you keep an eye on the primary goal: To keep relative wealth growth for any group below the absolute growth in wealth for the whole.
The bottom 80% of people are NOT net tax payers. The only people paying taxes are the "rich"
I’m not proposing it as a one-size-fits-all solution. Its just ridiculous how oppressive taxes are.@@bramvanduijn8086
"The treatment must be the same." ???
So you want a flat, regressive taxation regime?
We literally need the opposite. There should certainly be a difference between how the working and capital classes are taxed.
there is no class.@@space.youtube
You make economics so much easier to understand, thank you.
It aint rocket....
Yes it is easy to understand bullshit.
@@Al-xq4ec Yeah, BS has caused inflation...people think its a naturally occurring phenomenon xD
it's because its bullshit
Thanks Gary
Great to see the new presentation.
And to hear you introducing yourself as an author.
Thank you for sharing your insights
Fantastic video
thank you for being real! learnt alot from your videos
Ordered your book. I'm looking forward to reading it.
Your analysis is appreciated. 🙏♥️
Great explanation Gary
Thank you Gary, for your hard work trying to lift the blinkers, from the eye's of the voting public, unfortunately, The Rich will not let go of "THIS" nest they have built themselves,
The bottom 80% of people are NOT net tax payers
General strike
Do you remember that bit in the French Revolution where all those aristocrats got their heads removed?
@@Craig121000 For organising strikes? Mate I'm a trade union organiser we do that shit all the time. Just not on the scale necessary (yet)
Really glad you're back Gary. We need you in the game informing us ordinary people about economics and why it's important..... Keep it coming!
Thanks Gary
Great videos Gary, could you explain quantative easing as I also wondered what happens to that money. Thanks
I think that the rich has pocketed the money from quantitive easing because here at the bottom of the pile we definitely have NOT seen any of this money
Great message, simply and logically put BUT please, for those of us with hearing loss, don't put a music track on behind, it makes it very difficult to follow without subtitles.
You are very clear and I'm certain you are right. Thank you for posting.
Pre-ordered your book on Audible. Really looking forward to it as a birthday gift to myself
good video gary
Appreciate all the content Gary. Anything books or online courses you can recommend for the amateur to get a handle on basic economics? Conscious of stuff you’ve criticised about how it’s taught as well
You're excellent Gary. People like you should be in government... But the system as it stands would bog you down... Love to see you on TV again Gary. God bless yer Guvnor. 👍👍👍
It's worth reflecting on how the needs of 'broad government' almost inevitably will bog down those with specialist knowledge.
Some say intentionally ?@@philipoakley5498
I always see this - "the system will bog you down" etc. But unless someone with the resources to do it does something then nothing is going to change.
Trouble is; parliament is where the power is but for an individual in parliament it's like wading through treacle.
It's a big club. And we're not in it. @@marcoliver625
This is a very good explanation to Asset price inflation and in the housing market. It does not explain all of the reasons to the why there was a big increase in cpi and rpi which peaked at 11 and over 13%. The benefits of a tax on wealth is mentioned a lot, which isn't mentioned because such a large amount it is assets. What is also not mentioned, is the very large draw backs and problems that would happen if loads of assets were sold off at the same time to pay that sort of tax, not just in markets, but the large increase in M4 that would have to take by the state. Asset aggregate is much higher than m4, there is no getting away from that.
Absolutely agree with you.
Nice one, Gary. Everyone could see that things were going to get a lot worse at the start of COVID lockdowns, but the government increasing rates to tackle inflation, which is the standard way to tackle demand driven inflation, therefore was never going to slow inflation. Governments do not have a tool to combat the supply driven inflation caused by lockdown and the war in Russia. Well they do, tax the people that got the money, they'll just never to do it. Great video.
Gary, I recognise truth in your explanation. Is there a graph showing correlation between inflation and increasing inequality?
Well said Gary - keep up the good work 😁👍
Very short clip but straight to the point,
great work,
spot on again
Just pre ordered - Lionel
Your best video so far. In the space of four minutes you give us the problem, the cause of the problem and the solution. And it's nice the way you differentiate between lawyer level rich and aristocratic rich. Who could argue against this? Only aristocrats, or people who they fund.
I think this is one of your clearest and succinct videos. Love it! Less (well justified) anger and more explaination. Easy to follow and grasp what might seem simple, because they're well explained here, but are actually quite complicated concepts. Thank you
If you want realy clear picture on inflation you should rather watch Milton Friedman's talk on inflation.
Keep going gary.
About the book, I was pleasantly surprised to be able to borrow it from my local library
Please keep going Gary spread the word people the more of us talking about this the better chance we all have of making this a fairer World for all. 💪🏻
Gary love all your work and am grateful for everything you do! The backing music is a distraction on this video and found it difficult to focus on what you were saying, your previous videos were easier to follow, this was stressful to watch. Keep up the good work 🙏
Never has an economist spoke to me, a normal working class bloke, the way you have today. Your content is inspiring. We need more people like you. Folk from ‘normal’ backgrounds with an inside perspective on how the world works and how to fix it.
Love your stuff, but please ditch the distracting background music. You don’t need it; your content stands on its own.
Big G 🎉 I always wonder on a lower level why it’s so hard to get the message through to ordinary people about redistribution, and how they’ve been fucked in the last 20 years
They seem to vote against their best interests
I think some of the problem is many are struggling day to day, focused on their own situation, to the point they become blinded by the political mess that is causing this. All they know is they have less money and are trying to figure out why, switch on the TV and the propagandist says it must be immigrants, tories will stop it. And there we have it.
Ordinary people have been brainwashed since the year dot to accept that their 'betters' should have more than them... In the Victorian era they were reffered to as, " Working Class but honest " 🙃
There is a vast system in place to make sure it’s almost impossible to hear messages like this. & it has worked spectacularly.😐
It's not just the last couple of decades. Up to age 16 in GB politics and economics are kept out of the classroom. Teachers aren't even allowed to wear their own union badge. This deliberate promotion of ignorance means that many feel these are complicated subjects beyond their abilities. Truth or waffle in the news becomes irrelevant as these same people don't get how they're affected by policy.
These subjects can be taught at the same level as basic maths, science and languages. An informed electorate would be difficult to fool.
Great vid as always. I prefer the kitchen table format as your body language is more open. Look forward to the next one! Thanks
Hey Gary, what are your thoughts on UBI?
"Shift taxation away from work towards wealth". That's actually quite profound and I don't know how it can be achieved when much of 'wealth' is just paper valuations rather than cash, but I'd be *very* interested to see smarter people than me come up with some workable/electable suggestions.
I always equally look forward to your video updates but also dredd them because it highlights so many flaws and why I’m being screwed over
Can’t wait for book to arrive
Thanks Mate. Good to see you releasing videos consistently, shame it was followed by an ad featuring Farage being 'excluded from the financial system' shilling for Reform, no doubt
Exceptionally excellent change of visual presentation style GS!! ✊🏻
Visual / narrative review: I am this. This is 100% exactly how it is. There is no 'bullshit backdrop consensus to be entertained to reap what they sow'. Engage, _or, choose to continue to bury your head in the sand'. ✊
Why the crappy , distracting background 'music' all of a sudden? Do you think it sounds more professional? It doesn't. I really value what you say but I couldn't watch this one. I'll wait and get my information from your book when it arrives. Sorry.
Yeah, the music isn't needed here.
Yes the music is distracting and unnecessary
Threatening to buy the book instead probably works well for Gary! 😂 The comment is a bit OTT but I agree the music doesn't help.
Turn it up
@@jdjones4825 lol! Choon!
If we're randomly putting people in the lords so they can be in cabinet then:
1. Gary for the house of lords
2. Appoint gary junior minister for tax reform
3. Listen to him.
4. When it works, consider him for chancellor.
Yes
Always ‘Like’ Gary’s videos whether you watch them all or not- get them to the top of you tube
So succinct 🙌🙌 fantastic
Just tried to buy your book on Amazon, says can’t buy until 5th March. Will buy it then
How do we do something about it?
Best explanation and expansion of the Cantillon Effect.
Thanks for your insights Gary.
Please could you do a video explaining "Usery".
Usury
@@ThomasGreen-yj3nq thanks Thomas
Huge respect for what you are trying to do Never give up
Very good video as always Gary. The script was really good here got right in to the points.
I know you're looking to upgrade the video quality and really push the channel but I don't think this white background is doing it for you. If you want to do a desk then just have some shelves or books in the backgrond, tidy, not too distracting etc and don't use the screen. If you want to use a screen then maybe consider a shade that's a bit easier on the eyes or a pattern. (I know you're working with some pros and I'm Jim nobody in the comments...)
Would love to see you on the Joe Rogan podcast, more people need to hear your story/ message!!
So, what are the actual, practical ways of taxing wealth, taxing the ultra wealthy... You say tax wealth over income to reduce inequality... BUT HOW???
This is my question as well... No politician is going to vote for changing a system they're directly or indirectly benefiting from.
Practically speaking it would be difficult to design a system that was fair for everyone and actually led to increased prosperity for general people while encouraging wealthy people to take risks to make better/more things (money isnt real, the goods and services are, which are tangible and finite unless people work to make more)
Plus any change would probably need the cooperation of all major governments, otherwise the wealthy would just avoid the country which disadvantaged them.
Although i agree with Gary regarding the problem, and think it could be better. Any possible solution is far from straightforward, and may be a lot worse. Communism for example, in theory sounds great, in practice has always lead to high concentration of power, and deprivation and control of the general population.
While I agree that there is very little political appetite, the real problem is a bit more fundamental than that and its a conversation i've had many times. How do you tax 'wealth'? Like how do you maintain a consistent and objective arbitration for asset value and how would you go about declaring that. How would you say to HMRC, 'I am worth x amount, tax me' without a whole plethora of litigation even WITH pro 'wealth-tax' legislation. Personally, I liked the approach Brown took shortly after taking office as Chancellor of a Windfall tax. Will it fix the problems fully? No. Is it politically popular and direct wealth redistribution? Yes. Tax credits, as another policy, are the way to go for reducing inequality and Gordon Brown was a genius for implementing it.@@timprestwood9077
yeah precisely. It's all well and good to wax lyrical about shifting the tax burden from hard working people on an effective 60% tax rate to those that dont work and were born into wealth, but how do you tax 'wealth'. Net worth wont work. If you go by assets, that would very quickly turn into a matter of litigation and at the end of the day, opinion and interpretation.
You make fair points, but how will you stop inflation without stopping money printing?
I don't see any inflation video on your channel from June 2020, and where is the article from march?
New to the channel, message spot on Gary.
Zero rates really moved asset prices up - many that have those assets sit on them, don’t work and pay zero taxes. The system is sadly broken with no end in sight ☹️
With respect Gary. It isn't the amount of money given out by the UK government. It's the degree to which the government expanded the money supply. Which as a consequence devalues those notes (tokens) already in circulation. Thus it takes more notes ( tokens ) to buy real goods ( for example, food ). Voila !! Inflation.
This affects both rich and poor, but the rich don't notice it so much, because, well, they are rich.
But yes, loads of people could see ( in 2020 ) it was obvious that printing so much money as GDP was declining ( a result of lockdown ) would lead to horrendous inflation.
Good to see we've an idea what you mean by 'rich'.
I'd really enjoy a video talking about the common arguments against a wealth tax (more focussed on the practical than the ideological), with responses to these arguments.
I think a lot of people agree with the premise of greater taxation of wealth but struggle to see how this could be put into practice.
I recall seeing one of your TV appearances where someone you were debating used the argument "wealth is hard to measure and wealth taxes have been abolished wherever they've been attempted". There wasn't space on the show to discuss it in depth but I would have loved to have seen a response.
Just pre-ordered your book on audible. Please continue to use your energy to highlight this message, get on the t.v. more see if you can get a Question time slot. Would be great to see you on there, curring through the same old same old tighten your belts from the conservatives, and we must {insert unplanned spending message} from Labour
I like the way Gary is pushing for fairness in society and demonstrates the truth of what is actually happening from a cleanly economic view. If this grows in subscriber numbers - then these evidence-based economic observations are truly representative of all of us, the non-billionaires. Imagine audience numbers to rival that of the deceit-peddling News International. Solidarity is often misaligned with socialism and I am not advocating socialism, but I do think some sort of solidarity is needed nowadays, whatever your party politics. This is about economics and fairness, not left and right.
Could you make a video on the Cantillon effect please.? ❤
Way underrepresented in public teaching
Ahh, the Cantillon Effect: or why QE feeds the rich and makes everything more expensive for the poor.
Keep up the fight Gary, people are slowly waking up, hopefully it won't take too much longer.
i have read this message like every year since 1800 AD nobody is waking up buddy
Wonder what the effects on the economy (I'm imagining global now so it would help to be a global agreement) if all countries stopped taxing workers above about 5 % and only largely taxed asset owners? For instance, someone like the Duke of Westminster if he wanted to deserve the label of being called British, would have to pay at least 15% tax on all his assets. Assets owners 15%, workers 5%. The super rich might squeal but after 5 years of diligent application, the economy would take off as the workers were freed from bondage and could utilize their creative and imaginative and entrepreneurial skills. Enjoy your lessons Gary, frees us to use our imagination and to think whether we really have to do things the way they have been done, especially as they lead us to widening wealth gaps and political instability.
I've only just discovered your channel and I am really enjoying it. I might have to check out your book.
It seems to me that when the super rich get more money it doesn't circulate like it does when the rest of us get more money. If that makes sense?
Cheers for your work on this. Also the longer comment the more important the algo. thinks it is (well probably) so I'm just going to keep typing stuff like, excellent, and this is what we need to hear and, you should write a book (oh, you did), and such like.
Gary for PM!🎉
Your comments make so much sense, I hope you can help working class people in the future
Gary what do you think about Georgism?
More particularly, working towards getting rid of income tax for most and introducing taxes on rent-seeking behaviour?
A supply side shock pushing the Short Run Aggregate Supply curve up and to the left... No?
Gary, you are The Man, a true People's Economist. As a working man with some wits about him, I have great respect for your channel. Here you are breaking down complex ideas for everyone, so that all can see what is truly going on. And you have the credentials to back it up. Without guys like you it is easy to fall for the bullshit.
A thought provoking video. Thank you Gary. While I agree with you on the need to tax the super rich, I also think that the government needs to seriously look at projects such as HS2, the 2.8 million people on long term sickness, housing reform (limiting the number of houses an individual can own) the causes of the UK’s low productivity. They also need to seriously look into clawing back some of the billions they recklessly gave away on our behalf during the pandemic. Also, a serious investigation needs to be conducted to find out why so much money was spent and why the government didn’t seem interested in the risks to the economy and society. Not going to happen though. Even though people are desperate for a positive change in this country, hoping that the likes of Labour will bring about a marked improvement in the standard of living for the majority of us, in my opinion, it just smacks of desperation and ignorance. The political class in this country need a strong pushback from the millions of us that have been screwed over for decades now. Unfortunately, that’s not going to happen either. Peace✌️
Your recent content is superb - comment for the algo
I respect your investment record Gary and I too believe inequality is increasing. Can you explain one thing in your argument please. If we were to tax the super rich more are there enough of them to balance the lower taxation of the many? And if we did tax the rich more at what rate would it need to be and what would prevent them just moving to a lower tax environment abroad as happened in the 1970's? I hope you respond as this is a truly genuine question.
Imagine someone sending you this video called "What has really caused inflation?" and he in no way provides any explanation for what caused inflation.
I've been watching a few of his videos. They all have the same conclusion. Tax the rich! Ok. But our whole monetary system was designed by the rich to make sure they stay rich. We need to fix the money first.
I'd love to see you research the idea that "the consumer" is no longer a human, but corporate-like entities. How much consumption is purely financial in nature, and not tied to anything "real"? I don't know, but the data has got to be out there.
Support this. Feels like a veil being lifted
money printing not supported by an increased quantity of goods and services sold at market prices through real transactions
It would be fairer but Gary seems to suggest that we "just tax the rich more" as if they'll just meekly hand over the money without complaint. In reality, governments would need to anticipate all the ways the rich would inevitably try and get round any new tax laws that expect them to contribute more towards society. I don't know how realistic it would be, for example, for them to move to a country with a lower tax burden but I'm sure some would try. Also, other possible loopholes would have to be spotted early on and dealt with. We should try and make taxation fairer but it won't be straightforward.
Tax the rich but also unionise and strike for wage rises... Back in the 50s-80s it not only significantly raised wages in real terms (yes, despite high inflation) but correspondingly decreased inequality. In other words it took from the rich to the give to the working class.
This is the way
Always struggle with the inflation equation the customer i get that well put gary
You’re spot on. Suggested back then how much good it would do for society if the rich were taxed at pre 1964 levels (60+%) for only 5 years and companies only covered their costs for the same length of time putting the rest of their profits into the public coffers. Far too sensible an idea for the common good though so I knew it could never be made a reality 😐
What do you think of the argument that taxing the ruch more would just drive them out of the country and actually mean we generate less tax than before?
This, or even a 3 min or yt shorts version, should be pumped out; sure, as marketing for your channel, but more importantly, just as a vital PSA. I'd gladly support any fund-raising in my meagre capacity to get this out there
Gary when are you going to use the phrase "rentier activity"? Ready Progress and Poverty.
I know it's a bit tricky and you're not a policy maker per SE but could you cover a few of the technical solutions into how taxig would work, etc.
There are lots of arguments into why "taxing the rich" won't work etc. It would be interesting to hear how taxing should work, etc.
the problem is they would look to leave the country but would still want their businesses here. then would argue that i dont live there so i shouldn't pay tax. of course if you did this on a super state level like the european union then whatever country they move to they couldn't get round the rules as there's nowhere to run to.
Before watching, put me down for: Supply shock + money printing.
The question being: how do we shift taxes away from wages and towards wealth when those with the wealth always have, and always will control the system and make the rules.
Don't think asking them nicely will do the job.
Enough people at least need to be convinced that this is the way, too many people still see themselves as temporarily inconvenienced billionaires and will defend the rich even when they'd have nothing to gain by defending them. And then bigotry is also an easy way out, to get an explanation without needing a solution.
@@vulcwen Too many people also vote Tory thinking that some of that wealth will come their way if they do too.
I think its more fundamental for how you 'extract tax' from an individuals 'wealth'.
Say you are worth £1,000,000,000 (A Billion in net worth), and you take a salary and dividends that are about 400K in annual income which you pay tax on, how are you extracting more money from their net worth? Assets would be the next answer of course, but who evaluates that and how do you extract fungible currency at the price the tax authority values it at. For what its worth right now, if HMRC sends you into liquidation, puts your shit up for auction and hands you a tax bill, you arent making your money from auctioning your stuff. Its a much larger grey area that many seem to realise.
@@SplashTasty good point. To add to this, if all the rich end up in liquidation and has to sell up to pay hmrc, the valuation will go down because nobody has the liquid cash to buy the taxable assets... you're totally right, the true value of anything is what someone else is willing to pay at the time of sale. Everything else is just a guess, and often wildly incorrect. And you cant tax a guess.
@@SplashTastyyou do what they used to. You give a bill. This will be on assets & estimated income said assets either bring in or at worth if sold ( estimate ) a system will be decided to tax siting wealth at a much higher level than earned income. There would be a time wealth must be invested or owned before categorised as wealth rather than income.
In any case, it would only kick in at over say 600,000$ - 500,000£ so 99% of normal people would never be touched by it. It would not even be expensive to set up or run. Ai can do this type of thing so easily now. If the will is there it would be straightforward.
Really simple and accurate analysis. TAX the RICH! Pay for education and the NHS.
Inflation in the UK =
1. Energy prices are 3 times higher than they should be.
2. Leaving the EU has raised the cost of everything imported.
Conclusion = Both of these are deliberate and not an accident.
Brilliant, I forgot all about this, but I remember at the time being really frustrated because it was obvious the “stimulus” was really just an indirect bailout to landlords, as that’s what the money would be used for - paying rent. There were lots of discussions at the time about mass evictions and fear of what would happen if people couldn’t pay rent. Instead of saying “oh well, entrepreneurial risk!” And then invoking eviction protections and letting the landlords go bankrupt (what we should have done), the stimulus bailed them out. For shame! Thanks for bringing this idea back up