Let me break some news to you; the government can print as much money as it wants.
Do you know why we have not seen massive economic hardship quite yet? (and don't get me wrong, there has been some as food banks have been packed). Because the actual income levels for 60% of the country went UP with the $600 unemployment add. It's sad to me that the majority of people in this nation working full time aren't even taking home 50,000 a year. If you look at ANY financial growth chart - I can analyze this in 100000 ways, whether Minimum wage hikes or Middle Class growth - the stagnation of the middle class and low classes for 40 years has been breathtaking. If you take the middle class and lower class and give it the same wealth growth as the top 1% since 1980, the middle class income per person (not family) is $280,000 and the lower class income is $115,850. THINK ABOUT THAT! Instead, what happened is every inkling of financial growth in this country since the late 1970's has "trickled down" to the .5 percent beneath the top .5%. You could have still normalized wealth growth at the top 1% and gotten the middle class and lower income people to well above a livable wage. And people shout about inflation!
People who do NOT put their money back into the economy are bad for the economy. Billionaires and generational wealth are bad for the economy; they remove a vast majority of their wealth from the actual money pool by hoarding it for generations. Money that is removed from the true spend market and only remains in the investment market inflates the true value of the market, as well as prevents businesses from making profits off your money.
So the moral of the story here is for years they taught you - and ME! - the fallacy that was inflation in order to sell the concept that poor people couldn't be helped with safety nets and that if everyone had money, inflation would destroy the country. It's COMPLETE nonsense. The government just printed money that equated to 35% of the national GDP and the value of the dollar and the price of goods DID NOT budge a cent. The price for taking all people out of extreme poverty in the USA? Well under the 5 trillion we just printed. As economics evolves rapidly - which is what is happening right now - we get a better understanding. The national debt took 300 years to reach 2 trillion, then doubled every two years under Obama and now it added 2 trillion in six months under trump! Obviously at some point you need to begin to balance things, but as long as the US dollar is the global currency, and the US remains the wealthiest nation on earth by a SHIT TON, there is absolutely NO EXCUSE that we should have as many people living at such a disadvantage. It's embarrassing, and the people have had enough. That's why the streets are talking now.
This by no means is arguing inflation does not exist, but again it exists in a supply and demand world but there is a supply shock right now, and the demand has shrunken for many items. Giving people money to survive - money that is put RIGHT BACK INTO the economy - in no way causes trauma or inflation. The poor people and people struggling are by far the best people to give money too because they spend every dime buying things they have to.
This is basic modern Econ 101; and as someone who is going back to school in September to get my masters in Data Science solely to attack big data in economics from a more modernized angle, this is something I love and am passionate about and it's also something that enrages me. Econ has a dark and evil past, and it's riddled with racism and sexism to this day. It is the whitest and malest profession of any of the advanced degree professions. The models that we have used for generations are riddled with racial and class biases on the data inputs, and it has destroyed the lives and opportunities for millions and millions of minority and/or impoverished people. It needs to change and it needs to be fixed.