Finance

Outside the Box: ‘Fed Accounts’ for all — with automatic and recurring payments triggered by economic crises

Wealthy interests have thrived during the pandemic. The CARES Act authorized trillions in spending to support wealthy people and corporations. Most of the money was used to guarantee liquidity for banks and hedge funds, backstop corporate balance sheets, and purchase debt to save commercial loan markets. Overall, 82% of the $ 170 billion tax provision […]