Mark Cuban Suggest a Bi-Weekly $1,000 Stimulus Check

Billionaire investor and owner of NBA’s Dallas Maverick, Mark Cuban took to Twitter on Sunday afternoon to share his ideas about how the federal government can use to “trickle-up economics” to help small business. “The only thing that will save businesses is consumer demand,” he wrote in a series of tweets on Sunday. “No amount of loans to businesses will save them or jobs if their customers aren’t buying.” Suggesting a bi-weekly $1,000 stimulus check to the 128 million households for the next two months, with the catch of spending the funds within 10 days of receipt or it expires. “People are saving more and spending less. We need to inspire people to spend more. We need to create consumer demand,” Cuban said. Cuban, who criticized the Paycheck Protection Program on Twitter, suggested that consumer demand is the only way to save businesses.

It's time to face the fact that PPP didn't work. Great plan, difficult execution. No one's fault. The only thing that will save businesses is consumer demand. No amount of loans to businesses will save them or jobs if their customers aren't buying.

— Mark Cuban (@mcuban) May 17, 2020

Cuban says we need a transitional jobs program that trains and hires millions of people “for a federal tracking/tracing/testing program.” He believes that this will help create stable jobs and reduce unemployment.

In addition, because this will take time, we need to consider an interim spending stimulus program. All 128m households could get a $1k check every 2 weeks for the next 2 months that MUST BE SPENT WITHIN 10 DAYS OF RECEIPT OR IT EXPIRES. This "use it or lose it" prog will

— Mark Cuban (@mcuban) May 17, 2020

There is certainly a lot of risk in this use it or lose it approach. A lot to be considered. But it could be patterned after @USDirectExpress. Let me know your thoughts

— Mark Cuban (@mcuban) May 17, 2020

It didn’t take long for Cuban’s ideas to get some notice from Congresswoman Alexandria Ocasio-Cortez tweeting: “Totally agree, @markcuban. It’s time for a Federal Jobs Guarantee.”

Totally agree, @markcuban.

It’s time for a Federal Jobs Guarantee. https://t.co/V8I9LLLUTC

— Alexandria Ocasio-Cortez (@AOC) May 17, 2020

With the U.S. government report on Friday showing that retail sales dropped 16.4% in April, his idea of stimulus checks focused on driving customer purchases may be the kind of idea that needs to be considered not just over Twitter, but in the halls of Congress too.