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Mark Cuban: US should give people $1,000 checks that expire in 10 days

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  • Billionaire Mark Cuban tweeted out a spending plan he thinks the US government should use to help boost spending, jobs, and businesses.
  • He suggested giving American households $1,000 every two weeks for the next two months with the caveat that the money be spent in 10 days or else it would expire.
  • “It’s time for trickle-up economics,” Cuban said, suggesting the government hire millions of unemployed people for contact tracing.
  • Visit Business Insider’s homepage for more stories.

Mark Cuban, billionaire investor and owner of the NBA’s Dallas Mavericks, tweeted over the weekend that the US government should give its 128 million households $1,000 dollar stimulus checks every two weeks for the next two months as part of a spending program to boost demand in the US economy in order to keep businesses alive.

Americans received stimulus checks from the federal government as apart of the first coronavirus related relief package known as the CARES Act. Another coronavirus bailout bill was passed the House Democrats but is unlikely to get by the Republican-controlled Senate. But according to Cuban, unless Americans are spending money businesses will continue to suffer.

That’s why Cuban suggested giving Americans $1,000 dollar stimulus checks every two weeks for the next two months with the caveat they spend the money in 10 days or else it would expire. 

The thinking behind Cuban’s $500 billion plan is that it would fuel commerce enough to keep essential products and services afloat as well as most businesses.

Cuban, a proponent of “trickle-up” economics, is calling for the federal government to hire millions of Americans for contact tracing and coronavirus testing in order to address the country’s historic unemployment rate — the worst it’s been since the Great Depression — and said the Paycheck Protection Program (PPP) “didn’t work”.

When it comes to returning to work, Cuban said workers should listen to epidemiologists and experts about the coronavirus — not billionaires. 

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