A Simple Basic Income Stimulus Bill

 

The Coronavirus Emergency Relief Effort Act

Beginning April 1st, 2020, and continuing in perpetuity during the Covid-19 crisis, with review every 6 months, and regardless of income or assets, each person with a Social Security Number or Individual Taxpayer Identification Number shall receive:
$2000/month if age 18 or over
$1000/month if age 17 or younger

This emergency payment will not be counted as income or assets for the purpose of federal or state taxes, benefits or other means-tested programs, including, but not limited to:

  • TANF
  • Medicare/Medicaid
  • SSI
  • SSDI
  • SNAP

The federal government will recoup costs associated with this bill by implementing for the 2020 tax year, a 50% tax on all personal income and assets over $10M, and a corporate tax of 75% on all income and assets over $100M.

This tax may be renewed yearly in order to maintain the CARE payments, in the event the health crisis continues past 2020, or in the event Congress votes to make the CARE payment permanent.

In order to maintain the simplicity of the CARE provided, no other riders or provisos may be amended to this bill.

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