Mark Cuban doesn't trust people to manage their money

[JustinCharge 2,397]

https://www.yahoo.com/finance/news/mark-cuban-proposes-use-it-or-lose-it-debit-card-as-coronavirus-stimulus-135928871.html

The $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed in March, expanded existing unemployment benefits by adding an extra $600 weekly payment on top of the amount someone receives under state law through. However, Cuban pointed out that those extended benefits are expected to run out before August.

“And so I think we need to do a debit card program where we give money literally to each household and make it 'use it or lose it,' whether it's $1,000, or $1,200, or whatever that number is, every couple of weeks and say, 'You have X number of days to use this debit card, or you lose the money that's been deposited on there,’” said the wealthy investor, who is mulling a presidential run.

Sorry, according to Mark Cuban, you can't be trusted with money.  You need your hand held by the elites.  We will give you money but you must spend it the way we say it should be spent or we take it back.

[Strike 3,941]

2 minutes ago, riversco said:

https://www.yahoo.com/finance/news/mark-cuban-proposes-use-it-or-lose-it-debit-card-as-coronavirus-stimulus-135928871.html

The $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed in March, expanded existing unemployment benefits by adding an extra $600 weekly payment on top of the amount someone receives under state law through. However, Cuban pointed out that those extended benefits are expected to run out before August.

“And so I think we need to do a debit card program where we give money literally to each household and make it 'use it or lose it,' whether it's $1,000, or $1,200, or whatever that number is, every couple of weeks and say, 'You have X number of days to use this debit card, or you lose the money that's been deposited on there,’” said the wealthy investor, who is mulling a presidential run.

Sorry, according to Mark Cuban, you can't be trusted with money.  You need your hand held by the elites.  We will give you money but you must spend it the way we say it should be spent or we take it back.

I don't think he's saying what you think he's saying.

[edjr 5,546]

6 minutes ago, riversco said:

 

Sorry, according to Mark Cuban, you can't be trusted with money.  You need your hand held by the elites.  We will give you money but you must spend it the way we say it should be spent or we take it back.

According to me you swung and missed.

[Cloaca du jour 2,064]

Alot of people cant handle money..give em 1000s and they still piss it away.  I see no problem with what he is saying...x amt for rent food soap...clothes...etc.  0 for smokes...booze...heroin...screen tvs...car rims and stereo systems.

[Cloaca du jour 2,064]

Im reading a book now that has a plan called "basic"  if you dont want to work you can live on basic...x amt of dollars..limited healthcare etc.  Basic housing...etc.  Just enough to live.  Now you can work and get better options..

[Baker Boy 1,477]

28 minutes ago, riversco said:

https://www.yahoo.com/finance/news/mark-cuban-proposes-use-it-or-lose-it-debit-card-as-coronavirus-stimulus-135928871.html

The $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed in March, expanded existing unemployment benefits by adding an extra $600 weekly payment on top of the amount someone receives under state law through. However, Cuban pointed out that those extended benefits are expected to run out before August.

“And so I think we need to do a debit card program where we give money literally to each household and make it 'use it or lose it,' whether it's $1,000, or $1,200, or whatever that number is, every couple of weeks and say, 'You have X number of days to use this debit card, or you lose the money that's been deposited on there,’” said the wealthy investor, who is mulling a presidential run.

Sorry, according to Mark Cuban, you can't be trusted with money.  You need your hand held by the elites.  We will give you money but you must spend it the way we say it should be spent or we take it back.

That is exactly what he is saying. What he is not saying is that they are also going to track people.

[JustinCharge 2,397]

44 minutes ago, Cloaca du jour said:

Alot of people cant handle money..give em 1000s and they still piss it away.  I see no problem with what he is saying...x amt for rent food soap...clothes...etc.  0 for smokes...booze...heroin...screen tvs...car rims and stereo systems.

Um, because we REALLY don't want to set a precedent for government putting controls on how we spend. A tyrant is going to take that kind of power and tell you that you cannot buy something from his political opponents.  Letting people freely spend money unwisely is a billion times better than government control.

[FeelingMN 273]

4 minutes ago, riversco said:

Um, because we REALLY don't want to set a precedent for government putting controls on how we spend. A tyrant is going to take that kind of power and tell you that you cannot buy something from his political opponents.  Letting people freely spend money unwisely is a billion times better than government control.

When it's taxpayer dollars, the government can absolutely tell you how to spend it.  Because it's not really "your" money.

To Cuban's point.....if you're going to hand out money in an effort to help keep the economy afloat, then people should spend that money to help keep the economy afloat.

[JustinCharge 2,397]

15 minutes ago, FeelingMN said:

When it's taxpayer dollars, the government can absolutely tell you how to spend it.  Because it's not really "your" money.

To Cuban's point.....if you're going to hand out money in an effort to help keep the economy afloat, then people should spend that money to help keep the economy afloat.

No it absolutely should NOT. 

You don't get it.  You don't get how freedom works.  If you show trust and love towards people, they actually WILL rise to the occasion and improve themselves.  If you tell them they cannot be trusted, then they will respond by growing more untrustworthy.  That's why a free society works vastly better than a controlled one.

[TBayXXXVII 2,105]

I think the "use it or lose it" approach isn't really the right one.  Some times you need more money in a month than in other months.  If you need $900 one month, but $1500 the next, that's still $2400.  You shouldn't be forced to spend it $1200 and $1200 because that person is still short in the month that they need $1500.  (just an example).

 

Putting a use it or lose it tag on money is a typical Democrat policy where they're creating a problem when one doesn't exist.  Why?  Well, I do agree that money from the government should be metered out.  If you're getting government money, then the government should have a say on how, what, and when it could be used.  BUT, that's for "in-general' purposes, as in, every day operations.  Our current situation is not an every day operation... this is a rare and temporary circumstance.  The government, thanks to Democrats forcing the issue, has already created a problem with the amount of money they're handing out, we need not compound the problem by regulating that money and causing more problems.

[lod001 1,235]

I can easily spend  an extra $1k a month. This is like everyone in the country just hit a temporary lotto win. Time to...........yeah you got it.

 

 

 

 

 

[Utilit99 4,099]

9 hours ago, riversco said:

https://www.yahoo.com/finance/news/mark-cuban-proposes-use-it-or-lose-it-debit-card-as-coronavirus-stimulus-135928871.html

The $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed in March, expanded existing unemployment benefits by adding an extra $600 weekly payment on top of the amount someone receives under state law through. However, Cuban pointed out that those extended benefits are expected to run out before August.

“And so I think we need to do a debit card program where we give money literally to each household and make it 'use it or lose it,' whether it's $1,000, or $1,200, or whatever that number is, every couple of weeks and say, 'You have X number of days to use this debit card, or you lose the money that's been deposited on there,’” said the wealthy investor, who is mulling a presidential run.

Sorry, according to Mark Cuban, you can't be trusted with money.  You need your hand held by the elites.  We will give you money but you must spend it the way we say it should be spent or we take it back.

Mark Cuban said before Trump was elected that he would pull all of his money out of the stock market if Trump won. Oopsies if he did.