New Development.

Treasury is Delivering Millions of Economic Impact Payments by Prepaid Debit Card

https://home.treasury.gov/news/press-releases/sm1012

Looks like 1 more steps towards guranteed income AKA universal income. I think eventually every man, woman, & child will have one of these cards. I think eventually it will be issued right along side the birth certificate & ssn #.

Currently it looks like a test roll out. The EIP Cards are being distributed to qualified individuals without bank information on file with the IRS, and whose tax return was processed by either the Andover or Austin IRS Service Center.

I think this has great potential to increase efficiency across the board on so many various platforms... Tax Return payments, Social Security Payment, Disability Payments, Stimulus Payments, Various State Assistance Payments. Then they also could make it so certain vendors like Hospitals Emergency Room, could place charges on the card for unisured people but the charges dont get paid by the balance on the card but passed through to the state to issue the credit to the card for certain approved purchased.. That would make everything streamlined. All the info regarding any type of govemental payments and assistance would all be in one place and collected over your entire life. Could employers get some sort of tax break if we decide to start paying contractors and employees via direct depoisit to this new governmental bank account, instead of cutting paper checks, or direct deposit to some private bank?

This is the same type system I think most businesses use. I have been usings amex charge cards for the last 15 years maybe... Damn near everything I buy goes through them. I can easily go to one place and see a snapshot of all types of various expenses.

But I guess the thought of the Government having that much info on you in one system could be a little unerving for some.