We are all bracing for the economic impact the coronavirus may have on us.
But what is the right economic policy we should be pursuing at this time? Do we send checks of $1,000 to everyone who needs the money? Or do we incentivize the economy with tax measures that will boost the businesses most significantly affected so they can preserve their workforce?
These questions are especially pressing as a stimulus bill to fight the economic fallout from the virus makes its way through Congress. I discuss how the American economy should be supported on this week’s episode of my podcast “Newt’s World.”
My two guests this week — Stephen Moore, a fellow at the Heritage Foundation, and Charles Payne, host of Making Money with Charles Payne on Fox Business — are two such people. I think my conversations with them are a very good starting point. We discuss in detail the benefits of suspending the payroll tax, how to keep companies from going bankrupt and laying off workers, the effects of direct payments to Americans, and many more pressing issues in these unusual economic times.
I hope you will listen to this week’s episode as we not only prepare for an economy damaged by a pandemic, but also plan for how to rebuild that economy to become as robust as it was beforehand. |