U.S.: Where Cash Made All the Difference

The Pay Check

Bloomberg

Society & Culture, Business, Investing

4.4 • 630 Ratings

🗓️ 19 May 2022

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

When the Covid-19 pandemic started, many people expected inequality to get worse in the U.S. But at least for the bottom 50% of Americans, something surprising happened: Many of the least advantaged boosted their wealth. To start to understand why, we look to cash payments. No-strings-attached money went to people in need in the form of federal stimulus, the child tax credit — and local guaranteed income programs. As pandemic rescue aid wanes, is there a path to making monthly cash payments permanent? Reporter Susan Berfield looks to Jackson, Mississippi, to find out.

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1:02.5	Singapore. Just before the pandemic was about to take hold, the Magnolia Mothers Trust started doling out cash.
1:21.6	The program in Jackson, Mississippi, gives mothers living in subsidized housing $1,000 a month for 12 months.
1:28.7	$12,000, no strings attached.
1:31.9	For the couple hundred women selected, the good news came by phone.
1:35.7	So I said, oh my goodness.
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1:43.1	I was like, stop.
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1:49.9	It made me feel good.
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	...

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