Congress must pass the boldest piece of legislation ever written in modern history.
Gabriel ZucmanBernie's proposal for what Congress needs to pass next:
✅Keep workers on payroll
✅Cover all health care expenses
✅Mass production of equipment
✅Aid to states and cities
✅Extra support for vulnerable populations
Just obviously right
Gabriel ZucmanWe need a common European response to the coronavirus crisis
And we need a European wealth tax to fund it, fairly and transparently
Our column with @landais_camille and Emmanuel Saez
They're concerned that the expectations the administration has publicly set are unrealistic.
Gabriel ZucmanThere is a government agency out there that receives quarterly payments from businesses, knows a lot about their income, maintenance costs, payroll, etc., and can quickly send money by direct deposit
Not sure what was the point of going through banks
We estimate that 3.5 million workers were at high risk of losing their employer-provided health insurance in the past two weeks. Because the United States is unique among rich countries in tying health insurance benefits to employment—roughly half...
As the virus and lockdowns have spread around the world, other countries have created a type of economic environment different from the one in the U.S.—one that incentivizes businesses to keep employees on their payrolls.
Gabriel ZucmanIs It Too Late to Prevent Mass Unemployment Owing to the Coronavirus?
Businesses and non-profit organizations seeing a drop of at least 30 per cent in revenue due to COVID-19 will qualify for the government's 75 per cent wage subsidy program, Prime Minister Justin Trudeau announced today.
Gabriel ZucmanCanada is now the latest country to announce a wage subsidy & job protection program
For employers experiencing a decrease in revenues of at least 30%, the government will cover 75% of wages (up to $58,700)
Gabriel ZucmanWhat do we want?
* Jobs protection. Letting the unemployment rate rise to 30% is a folly
* Covidcare for All
* A payor of last resort to allow businesses to survive the crisis
* An excess profits taxes
When do we want this?
Insurance premiums could spike as much as 40 percent next year, a new analysis warns, as employers and insurers confront the projected tens of billions of dollars in additional costs of treating coronavirus patients.
Harvard announced that it will guarantee regular pay and benefits through May 28 for University employees who are available to work but cannot perform their duties on campus due to the coronavirus outbreak.