Coronavirus cash: Economist says people who take vaccine should get $1,000 payments

Elroy Mariano

Want to make $1,000 off the coronavirus? Well, if one economist had his way, you would get the cash in exchange for taking a vaccine for the virus. “If we don’t get herd immunity, we’re not getting our economy back and we’re not getting our society and our lives back,” […]

Want to make $1,000 off the coronavirus?

Well, if one economist had his way, you would get the cash in exchange for taking a vaccine for the virus.

“If we don’t get herd immunity, we’re not getting our economy back and we’re not getting our society and our lives back,” Robert Litan, an economist with the Brookings Institution, told Yahoo Finance. “If you paid $1,000 a person — so for a family of four you’re talking $4,000. In these hard times, that’s a lot of money and I think a lot of people would take the vaccine for $1,000.”

According to the story, about 70 percent of the population would need to be vaccinated to reach the threshold for herd immunity needed to sufficiently slow the spread of the virus. Dr. Anthony Fauci said the country would not reach the threshold if as much as 25% of the population chose not to be vaccinated, Yahoo reported.

Litan proposes giving folks $200 when they are vaccinated, and the rest when the country hits the herd immunity threshold. He said the plan would provide incentive for those who receive the vaccine to “go on social media (and) talk to their friends, talk to their family, talk to their church colleagues, work colleagues and say, ’Hey, take the vaccine because you and I will both get that extra $800.”

Yahoo Finance said the plan would cost around $275 billion.

But Litan said it’s better than forcing people to take the vaccine which he said would create a backlash.

“The alternative is as long as people stay home and we have massive unemployment,” he said. “We’re losing trillions of dollars annually in lost economic output because our economy is not at full employment. And so, to get a shot for $275 billion to get our lives back and our economy back seems to me the best investment you can make and it’s cheap in comparison to the alternative.”

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