Why not give everyone in the city a guaranteed income of $300,000 per year. Everyone will be rich without having to work for it!!!
“Why not give everyone in the city a guaranteed income of $300,000 per year. Everyone will be rich without having to work for it!!!”
Excellent idea. The city could issue script and require local businesses to accept it. Then they could give $300K in script to everyone in the city. Refusal to accept the script would be punishable by jail and a $500K fine (not payable in script). Chicago would become the wealthiest city in the country and a beckon of hope, of boundless prosperity. It is pure economic genius. I expect Paul Krugman to immediately give this plan his MMT seal of approval. What could possibly go wrong?