1 00:00:10,000 --> 00:00:13,119 Speaker 1: Just before the pandemic was about to take hold, the 2 00:00:13,160 --> 00:00:18,599 Speaker 1: Magnolia Mother's Trust started dolling out cash. The program in Jackson, Mississippi, 3 00:00:18,680 --> 00:00:22,079 Speaker 1: gives mothers living in subsidized housing a thousand dollars a 4 00:00:22,120 --> 00:00:26,440 Speaker 1: month for twelve months, twelve thousand dollars, no strings attached. 5 00:00:27,200 --> 00:00:30,200 Speaker 1: For the couple hundred women selected. The good news came 6 00:00:30,240 --> 00:00:33,320 Speaker 1: by phone. So I said, oh, my goodness, I said, 7 00:00:33,760 --> 00:00:38,440 Speaker 1: Issue place, tell me I was selected? Issue laughing. I 8 00:00:38,560 --> 00:00:43,720 Speaker 1: was like, stop, you got this sneaker? You sure you 9 00:00:43,840 --> 00:00:46,559 Speaker 1: could the right person. It made me feel goody. It 10 00:00:46,680 --> 00:00:52,400 Speaker 1: was a good feeling that my spirit was uplifted. Well. 11 00:00:52,560 --> 00:00:57,520 Speaker 1: I was grateful, appreciative cash. It might be the best 12 00:00:57,720 --> 00:01:01,400 Speaker 1: and easiest way to help people in need, give them 13 00:01:01,400 --> 00:01:05,039 Speaker 1: money and let them spend it however they want and 14 00:01:05,120 --> 00:01:08,360 Speaker 1: for women liked wanted to Johnson, a substitute teacher with 15 00:01:08,400 --> 00:01:12,320 Speaker 1: two kids, The call from the Magnolia Mother's Trust couldn't 16 00:01:12,319 --> 00:01:16,720 Speaker 1: have come at a better time. When pandemic kid I 17 00:01:16,760 --> 00:01:19,200 Speaker 1: was on a screen break and we weren't able to 18 00:01:19,200 --> 00:01:21,880 Speaker 1: go back to work. So I was like wow. I 19 00:01:21,959 --> 00:01:23,840 Speaker 1: was like, I knew I hate the preserves, but then 20 00:01:23,880 --> 00:01:25,399 Speaker 1: we didn't know when we go back to work. So 21 00:01:25,440 --> 00:01:29,240 Speaker 1: I was beginning to start worrying, and then all of 22 00:01:29,240 --> 00:01:31,880 Speaker 1: a sudden, the same week I was at I got 23 00:01:31,880 --> 00:01:34,440 Speaker 1: a call from mcnodi's most Trust with that great news. 24 00:01:34,560 --> 00:01:37,880 Speaker 1: Before she says she was barely getting by. She made 25 00:01:37,920 --> 00:01:41,160 Speaker 1: sixty five dollars a day and was constantly juggling between 26 00:01:41,200 --> 00:01:44,240 Speaker 1: paying her car loans, her life insurance, her other bills. 27 00:01:45,280 --> 00:01:47,080 Speaker 1: She had tried to take on a second job in 28 00:01:47,120 --> 00:01:50,040 Speaker 1: the evenings, but couldn't keep up with the physical demands 29 00:01:50,040 --> 00:01:52,920 Speaker 1: of it after teaching all day marches. Needed the extra money. 30 00:01:53,080 --> 00:01:55,080 Speaker 1: I just need the extra mony. I was tryed of juggling. 31 00:01:55,400 --> 00:01:58,760 Speaker 1: The pandemic could have stretched her even thinner. When schools 32 00:01:58,760 --> 00:02:01,520 Speaker 1: went virtual, she was out of a job. But not 33 00:02:01,560 --> 00:02:04,320 Speaker 1: only did she get a call in March, she'd be 34 00:02:04,320 --> 00:02:08,320 Speaker 1: getting monthly cash payments from the Magnolia Mother's Trust. She 35 00:02:08,360 --> 00:02:13,280 Speaker 1: eventually qualified for enhanced unemployment benefits to an extra seven 36 00:02:13,960 --> 00:02:16,919 Speaker 1: four dollars a week. With all that money coming in, 37 00:02:17,240 --> 00:02:19,440 Speaker 1: she had enough to pay her bills on time, to 38 00:02:19,600 --> 00:02:22,840 Speaker 1: save to think about moving. Oh, I feel good because 39 00:02:22,840 --> 00:02:24,760 Speaker 1: I was able to go ahead and pay everything right 40 00:02:24,760 --> 00:02:27,840 Speaker 1: away on time. Just pay everything is it was due 41 00:02:28,280 --> 00:02:30,760 Speaker 1: By the end of the year, Duannata had earned thirty 42 00:02:30,760 --> 00:02:34,000 Speaker 1: thou dollars and had saved almost half of it. To 43 00:02:34,040 --> 00:02:36,480 Speaker 1: be honest, the type of money that I was bringing 44 00:02:36,480 --> 00:02:39,000 Speaker 1: in that is the type of income that I really 45 00:02:39,120 --> 00:02:42,480 Speaker 1: will look to heir. During the pandemic, cash was a 46 00:02:42,520 --> 00:02:46,560 Speaker 1: surprisingly common and popular antidote to the economic crisis in 47 00:02:46,639 --> 00:02:50,360 Speaker 1: the US, and for people like Dannata, it not only 48 00:02:50,400 --> 00:02:53,160 Speaker 1: helped them stay afloat, it gave them a kind of 49 00:02:53,200 --> 00:02:57,519 Speaker 1: financial security and stability they never had before. It was 50 00:02:57,560 --> 00:03:02,280 Speaker 1: the best case scenario, but can it be a permanent solution. 51 00:03:03,720 --> 00:03:06,880 Speaker 1: Jobless claims coming in, I mean really jumping from the 52 00:03:06,919 --> 00:03:11,160 Speaker 1: week before pretty brutal. Three point to a million records. 53 00:03:11,200 --> 00:03:14,880 Speaker 1: Six point six million Americans filed for unemployment last week. 54 00:03:15,040 --> 00:03:18,160 Speaker 1: Some of you may be asking, where's my money? I 55 00:03:18,200 --> 00:03:22,079 Speaker 1: need that one engine. Working women were the worst invested 56 00:03:22,280 --> 00:03:25,840 Speaker 1: by the pandemic. Well, now to the billionaire boom. According 57 00:03:25,880 --> 00:03:29,840 Speaker 1: to Bloomberg, super yacht charters are up over three hundred 58 00:03:31,040 --> 00:03:34,600 Speaker 1: and a billionaire was created every twenty six How was 59 00:03:34,680 --> 00:03:37,640 Speaker 1: during this pandemic. No, I'm not waiting in line for 60 00:03:37,840 --> 00:03:42,000 Speaker 1: COVID test with the public growth, it is time for 61 00:03:42,160 --> 00:03:50,800 Speaker 1: a Wealth tax Scan America. Welcome back to the Paycheck. 62 00:03:51,520 --> 00:03:55,960 Speaker 1: I'm Rebecca Greenfield. Last week we heard a worst case scenario, 63 00:03:56,560 --> 00:04:01,560 Speaker 1: skyrocketing inequality spiraling out of control. That's what a lot 64 00:04:01,560 --> 00:04:04,920 Speaker 1: of economists thought would happen around the world, and early 65 00:04:04,960 --> 00:04:07,200 Speaker 1: in the pandemic it seemed like that was the path 66 00:04:07,400 --> 00:04:10,440 Speaker 1: the US was headed down. For me, one of the 67 00:04:10,520 --> 00:04:14,680 Speaker 1: defining images of spring where those viral photos of car 68 00:04:14,760 --> 00:04:19,000 Speaker 1: lines sneaking around food banks two months into this pandemic. 69 00:04:19,040 --> 00:04:21,360 Speaker 1: The strain on some families is that a fever pitch 70 00:04:21,640 --> 00:04:24,800 Speaker 1: with no jobs, no income, no way to pay rent. 71 00:04:25,120 --> 00:04:28,200 Speaker 1: Even putting food on the table is difficult, Like the 72 00:04:28,279 --> 00:04:32,280 Speaker 1: lines for free food in New Orleans, Desperation is growing 73 00:04:32,360 --> 00:04:35,760 Speaker 1: by the day. That scenario would have been a continuation 74 00:04:35,920 --> 00:04:40,080 Speaker 1: of decades long trends in the US. Despite being one 75 00:04:40,080 --> 00:04:42,919 Speaker 1: of the most equal countries in the world after World 76 00:04:42,920 --> 00:04:46,720 Speaker 1: War Two, heading into the pandemic, wealth inequality here had 77 00:04:46,760 --> 00:04:50,760 Speaker 1: reached levels not seen in almost a century. Since Night, 78 00:04:50,960 --> 00:04:54,280 Speaker 1: the wealthiest one person of Americans have almost tripled their 79 00:04:54,320 --> 00:04:58,120 Speaker 1: share of wealth. It was a concerning situation heading into 80 00:04:58,160 --> 00:05:01,960 Speaker 1: the pandemic, and when the virus hit, things looked really bad. 81 00:05:02,320 --> 00:05:05,600 Speaker 1: The economy shut down, millions of people couldn't work, and 82 00:05:05,680 --> 00:05:08,440 Speaker 1: the stock market crashed. It felt a lot like the 83 00:05:08,440 --> 00:05:11,800 Speaker 1: two thousand eight recession, or worse. What in the world 84 00:05:11,880 --> 00:05:16,120 Speaker 1: is happening on Wall Street? Two year no yields six 85 00:05:17,040 --> 00:05:19,760 Speaker 1: In the blink of an nazdac, everything and more has 86 00:05:19,760 --> 00:05:22,279 Speaker 1: been completely wiped out. It was the worst day on 87 00:05:22,400 --> 00:05:27,520 Speaker 1: Wall Street since the crash of But then something surprising happened. 88 00:05:28,160 --> 00:05:31,680 Speaker 1: The government stepped in with a robust policy response, much 89 00:05:31,680 --> 00:05:34,840 Speaker 1: of which was targeted at low and middle income Americans. 90 00:05:36,000 --> 00:05:38,560 Speaker 1: There were multiple rounds of stimulus checks for people making 91 00:05:38,560 --> 00:05:42,200 Speaker 1: seventy five thousand dollars or less. There was enhanced unemployment, 92 00:05:42,279 --> 00:05:44,960 Speaker 1: an extra six hundred dollars per week for anyone out 93 00:05:44,960 --> 00:05:48,359 Speaker 1: of work due to COVID. Small business owners were eligible 94 00:05:48,400 --> 00:05:51,599 Speaker 1: for forgivable loans, and then there was the expanded child 95 00:05:51,600 --> 00:05:54,679 Speaker 1: tax credit checks that parents received in the mail every 96 00:05:54,720 --> 00:05:59,000 Speaker 1: month for six months. Ben Steveman, the Bloomberg Wealth reporter 97 00:05:59,040 --> 00:06:01,480 Speaker 1: who I spoke to last week, told me that all 98 00:06:01,520 --> 00:06:05,400 Speaker 1: those cash injections give some Americans an amount of wealth 99 00:06:05,680 --> 00:06:08,520 Speaker 1: they've never had before. People were saving the money they're 100 00:06:08,520 --> 00:06:13,200 Speaker 1: paying down debt, and that ended up boosting the net 101 00:06:13,200 --> 00:06:17,000 Speaker 1: worths of a lot of families in the United States 102 00:06:17,120 --> 00:06:20,760 Speaker 1: who really had never had significant amounts of wealth. You know, 103 00:06:20,800 --> 00:06:24,480 Speaker 1: if you look at surveys going back years, a significant 104 00:06:24,480 --> 00:06:26,960 Speaker 1: share of the population, more than a third, say they 105 00:06:27,000 --> 00:06:29,400 Speaker 1: struggled to come up with four dollars in an emergency. 106 00:06:29,440 --> 00:06:31,040 Speaker 1: I mean, there were a lot of people who were 107 00:06:31,080 --> 00:06:33,760 Speaker 1: really cutting it close before the pandemic, and suddenly they 108 00:06:33,800 --> 00:06:38,080 Speaker 1: found themselves feeling like they had some financial wherewithal and 109 00:06:38,200 --> 00:06:41,919 Speaker 1: some resources to rely on in an emergency. That child 110 00:06:41,920 --> 00:06:45,680 Speaker 1: tax credit alone was hugely responsible for lifting millions of 111 00:06:45,760 --> 00:06:49,400 Speaker 1: children out of poverty. In other words, the COVID crisis 112 00:06:49,720 --> 00:06:54,239 Speaker 1: disrupted growing wealth inequality in the US. Now, the question 113 00:06:54,320 --> 00:06:58,840 Speaker 1: is can wealth gains for the bottom continue well. Much 114 00:06:58,839 --> 00:07:01,280 Speaker 1: of the government funding was never meant to last beyond 115 00:07:01,320 --> 00:07:06,320 Speaker 1: the pandemic, and dozens of US cities cash experiments are underway. 116 00:07:06,440 --> 00:07:09,160 Speaker 1: They're not as widespread as the stimulus or child tax 117 00:07:09,200 --> 00:07:12,280 Speaker 1: credit payments, but they could offer a roadmap for a 118 00:07:12,320 --> 00:07:16,800 Speaker 1: more permanent wealth building tool. My colleague Susan Burfield looks 119 00:07:16,800 --> 00:07:20,200 Speaker 1: at Jackson, Mississippi, where some two hundred low income black 120 00:07:20,240 --> 00:07:23,840 Speaker 1: mothers received enough money during the pandemic to sometimes double 121 00:07:24,040 --> 00:07:26,920 Speaker 1: their income. Here she is with the story. In the 122 00:07:26,960 --> 00:07:30,720 Speaker 1: summer and fall of nineteen Tamika Calhoun was going through 123 00:07:30,760 --> 00:07:35,280 Speaker 1: a tough time. Everything just started going downhill, Like everything 124 00:07:35,360 --> 00:07:38,440 Speaker 1: if you could go wrong, you did. I was struggling 125 00:07:38,480 --> 00:07:41,640 Speaker 1: to find a job. I would work here and there 126 00:07:41,760 --> 00:07:44,600 Speaker 1: for different um jobs where I'm taking care of someone, 127 00:07:45,320 --> 00:07:48,720 Speaker 1: but it didn't last long because I didn't have transportation. 128 00:07:49,920 --> 00:07:53,160 Speaker 1: One day in early January, as she was on her 129 00:07:53,200 --> 00:07:56,160 Speaker 1: way to a new job, her Nissan Morano cut out. 130 00:07:56,720 --> 00:07:59,520 Speaker 1: It was six in the morning, dark and she was 131 00:07:59,560 --> 00:08:02,680 Speaker 1: stuck in the middle of the interstate. The police called 132 00:08:02,680 --> 00:08:05,640 Speaker 1: her a tow truck. If she paid two hundred dollars, 133 00:08:05,640 --> 00:08:08,120 Speaker 1: the driver could get the car to her home, but 134 00:08:08,200 --> 00:08:10,840 Speaker 1: Tamika was short by the time I came up with 135 00:08:10,880 --> 00:08:13,080 Speaker 1: the money they told me I would need. It was 136 00:08:13,080 --> 00:08:15,840 Speaker 1: fifty dollars a day, and I didn't have it to 137 00:08:15,960 --> 00:08:20,760 Speaker 1: need it out, and because I didn't have reliable transportation, 138 00:08:20,840 --> 00:08:24,440 Speaker 1: they let me go. Tamica lost her car and her job, 139 00:08:25,120 --> 00:08:28,400 Speaker 1: but then her luck started to change. She found work 140 00:08:28,440 --> 00:08:31,480 Speaker 1: she could do from home, answering calls for apple, making 141 00:08:31,520 --> 00:08:35,240 Speaker 1: almost fourteen dollars an hour. It was good timing. She 142 00:08:35,240 --> 00:08:38,120 Speaker 1: couldn't have known, but COVID was about to close in 143 00:08:38,800 --> 00:08:41,640 Speaker 1: and right after that, Tamika found out that she'd be 144 00:08:41,679 --> 00:08:45,240 Speaker 1: receiving a thousand dollars a month from the Magnolia Mother's Trust. 145 00:08:46,559 --> 00:08:49,640 Speaker 1: It's the first program to simply give cash to low 146 00:08:49,679 --> 00:08:53,840 Speaker 1: income Black mothers living in affordable housing. It was started 147 00:08:53,840 --> 00:08:58,520 Speaker 1: in meant for the everyday shocks and stresses of trying 148 00:08:58,559 --> 00:09:01,560 Speaker 1: to get by a not enough to give single mother 149 00:09:01,679 --> 00:09:05,680 Speaker 1: some room to breathe, to plan, And on that March 150 00:09:05,760 --> 00:09:10,120 Speaker 1: day of Tamika's first thought, it was about all the things, 151 00:09:10,160 --> 00:09:13,080 Speaker 1: the basic things she wanted for her family. I was 152 00:09:13,120 --> 00:09:16,520 Speaker 1: thinking about all the things that we needed for the house, 153 00:09:16,600 --> 00:09:19,080 Speaker 1: for the kids. They were growing out of their clothes. 154 00:09:19,600 --> 00:09:22,640 Speaker 1: I finally was able to get them covers for their 155 00:09:22,679 --> 00:09:25,600 Speaker 1: beds because they had the same covers for a long time. 156 00:09:25,800 --> 00:09:28,400 Speaker 1: Just things to clean up with them around the house, 157 00:09:28,559 --> 00:09:32,760 Speaker 1: or hair products, personal care products. I was able to 158 00:09:33,240 --> 00:09:37,560 Speaker 1: kind of back up on that stuff. They were excited 159 00:09:37,600 --> 00:09:40,600 Speaker 1: because they were looking forward to trying out for different 160 00:09:40,600 --> 00:09:43,800 Speaker 1: things at school that they usually wouldn't be able to 161 00:09:43,800 --> 00:09:46,280 Speaker 1: try out for it because I wouldn't have the funds 162 00:09:46,360 --> 00:09:49,520 Speaker 1: to pay for it, and the pandemic quickly changed some 163 00:09:49,640 --> 00:09:52,960 Speaker 1: of her calculations about what her family would need, and 164 00:09:53,000 --> 00:09:55,720 Speaker 1: the extra money proved crucial in the way. She couldn't 165 00:09:55,720 --> 00:10:00,920 Speaker 1: have expected no new after school activities, no vacation. Instead, 166 00:10:01,240 --> 00:10:03,600 Speaker 1: she had to set up her five kids to learn 167 00:10:03,679 --> 00:10:08,120 Speaker 1: online at home, so I had to use the money 168 00:10:08,440 --> 00:10:12,640 Speaker 1: is to buy them computers about them death for their 169 00:10:12,720 --> 00:10:15,200 Speaker 1: rooms to make it more structured. They also got the 170 00:10:15,240 --> 00:10:18,000 Speaker 1: new clues she had wanted for them. She got a car, 171 00:10:18,120 --> 00:10:22,079 Speaker 1: which opened up all kinds of possibilities, and eventually they 172 00:10:22,120 --> 00:10:25,199 Speaker 1: got to Gotlinburg, Tennessee for a night away and it 173 00:10:25,480 --> 00:10:28,320 Speaker 1: felt good saving to go on a vacation and not 174 00:10:29,080 --> 00:10:32,160 Speaker 1: just using a whole check to pay for a vacation 175 00:10:32,480 --> 00:10:34,880 Speaker 1: like we had money in our saving as we were 176 00:10:34,920 --> 00:10:54,400 Speaker 1: able to go and actually have fun. The idea behind 177 00:10:54,440 --> 00:10:58,400 Speaker 1: the program to MAKA participated in may sound familiar. It's 178 00:10:58,440 --> 00:11:02,640 Speaker 1: called a guaranteed income and it's about giving people cash. 179 00:11:03,080 --> 00:11:07,959 Speaker 1: Unlike most safety net programs, there's no bureaucracy, no owners requirements. 180 00:11:08,720 --> 00:11:11,600 Speaker 1: It's an idea that goes way back, but it was 181 00:11:11,640 --> 00:11:15,880 Speaker 1: in when Andrew Yang based his presidential campaign on the 182 00:11:15,920 --> 00:11:19,320 Speaker 1: idea that people really began talking about it again. The 183 00:11:19,360 --> 00:11:21,360 Speaker 1: first time you heard it, you're like, ha ha, that's 184 00:11:21,360 --> 00:11:23,800 Speaker 1: a gimmick that will never happen. But if you dig 185 00:11:23,840 --> 00:11:25,679 Speaker 1: into it, you will find this is not an Andrew 186 00:11:25,800 --> 00:11:29,600 Speaker 1: Yang idea, visit Thomas pain idea. This is a Martin 187 00:11:29,679 --> 00:11:32,760 Speaker 1: Luther King idea. And soon this is going to be 188 00:11:32,800 --> 00:11:35,120 Speaker 1: the idea of the American people that takes us all 189 00:11:35,200 --> 00:11:40,000 Speaker 1: away into the White House. Then came the pandemic and 190 00:11:40,040 --> 00:11:43,640 Speaker 1: the racial justice protests, and it seemed that giving people 191 00:11:43,720 --> 00:11:48,800 Speaker 1: cash could be one way to right some economic wrongs. Now, 192 00:11:48,880 --> 00:11:52,760 Speaker 1: cities around the country are experimenting with different programs. Some 193 00:11:52,880 --> 00:11:56,600 Speaker 1: are for any resident who lives close to the poverty line. Others, 194 00:11:56,840 --> 00:12:01,199 Speaker 1: like and Jackson, are specifically from mothers residents of color. Today, 195 00:12:01,240 --> 00:12:05,360 Speaker 1: applications open for the much anticipated Breathe program. It is 196 00:12:05,400 --> 00:12:08,960 Speaker 1: an l a county guaranteed income program for a thousand residents. 197 00:12:09,040 --> 00:12:11,280 Speaker 1: More than one people in Providence so are the first 198 00:12:11,320 --> 00:12:14,800 Speaker 1: to receive a monthly check four five dollars. A hundred 199 00:12:14,800 --> 00:12:18,000 Speaker 1: and fifty households across San Diego County getting a check 200 00:12:18,040 --> 00:12:21,600 Speaker 1: for five hundred dollars today. The Baltimore Young Family Success 201 00:12:21,640 --> 00:12:25,040 Speaker 1: Fund will support two hundred young parents between eighteen and 202 00:12:25,120 --> 00:12:29,880 Speaker 1: twenty four years old with unconditional cash payments. These experiments, 203 00:12:30,080 --> 00:12:33,040 Speaker 1: i'll have two things in common. They provide cash without 204 00:12:33,040 --> 00:12:36,480 Speaker 1: any restrictions, and they want to prove that the money 205 00:12:36,520 --> 00:12:41,240 Speaker 1: won't be wasted. Data collected over decades and across the 206 00:12:41,240 --> 00:12:45,000 Speaker 1: world already show that recipients spend the money on the 207 00:12:45,040 --> 00:12:48,920 Speaker 1: things they need most. And since the US government gave 208 00:12:48,920 --> 00:12:51,920 Speaker 1: out a lot of cash during the pandemic, we now 209 00:12:51,960 --> 00:12:55,040 Speaker 1: also have all the data on how those payments helped 210 00:12:55,120 --> 00:13:00,120 Speaker 1: keep people from sliding into poverty. But stereotypes persist and 211 00:13:00,160 --> 00:13:03,439 Speaker 1: critics remain. There's not a lot of trust associated with 212 00:13:03,720 --> 00:13:07,080 Speaker 1: giving money to to the working class. That's Steven Nuniez, 213 00:13:07,240 --> 00:13:11,560 Speaker 1: a sociologist and economist who's been studying anti poverty programs 214 00:13:11,600 --> 00:13:15,040 Speaker 1: for more than a decade and guaranteed income programs for 215 00:13:15,080 --> 00:13:18,200 Speaker 1: the past three years. He works for the Jane Family 216 00:13:18,240 --> 00:13:21,240 Speaker 1: Institute in New York. There's a sort of assumption that 217 00:13:21,280 --> 00:13:25,559 Speaker 1: they're going to misuse the funds. Maybe they'll loaf around 218 00:13:25,600 --> 00:13:27,800 Speaker 1: if you don't attach it to some kind of work requirement. 219 00:13:28,280 --> 00:13:31,479 Speaker 1: Maybe they'll use it on gambling and drugs and alcohol 220 00:13:31,600 --> 00:13:34,040 Speaker 1: if you don't sort of limited and turn it into 221 00:13:34,040 --> 00:13:37,400 Speaker 1: a voucher like with food stamps. None of the literature 222 00:13:37,520 --> 00:13:40,920 Speaker 1: that supports that. The literature basically shows you give people 223 00:13:40,920 --> 00:13:43,880 Speaker 1: cash and they use it sorts of the ways that 224 00:13:43,920 --> 00:13:46,200 Speaker 1: you might expect them to use it. To pay off debt, 225 00:13:46,360 --> 00:13:49,640 Speaker 1: to make big purchases, to buy toys and food and 226 00:13:49,720 --> 00:13:53,959 Speaker 1: clothing for their kids. For kids, especially, cash pays dividends 227 00:13:54,120 --> 00:13:58,360 Speaker 1: later in life. You know, early intervention when children are 228 00:13:58,480 --> 00:14:00,800 Speaker 1: are young to prevent them from ring up in poverty 229 00:14:00,880 --> 00:14:04,040 Speaker 1: can actually read huge rewards in terms of their long 230 00:14:04,160 --> 00:14:07,800 Speaker 1: term health, in terms of their long term labor market outcomes, 231 00:14:07,840 --> 00:14:12,599 Speaker 1: criminal justice involvement and education and so forth. It's the 232 00:14:12,679 --> 00:14:15,000 Speaker 1: quick and easy way to do it. It's very effective. 233 00:14:15,040 --> 00:14:18,400 Speaker 1: It can be cost effective. Ayesha Yandoro, who leads the 234 00:14:18,400 --> 00:14:22,120 Speaker 1: Magnolia Mother's Trust, came to similar conclusions through her work 235 00:14:22,120 --> 00:14:25,200 Speaker 1: in Jackson. She grew up there, left to earn a 236 00:14:25,280 --> 00:14:30,239 Speaker 1: doctorate and community psychology, and then returned after deciding academia 237 00:14:30,360 --> 00:14:33,920 Speaker 1: wasn't for her after all. She helped founds bring board 238 00:14:33,960 --> 00:14:40,000 Speaker 1: to opportunities to provide services that families and subsidize housing 239 00:14:40,280 --> 00:14:43,720 Speaker 1: actually asked for, like homework help for their kids and 240 00:14:43,800 --> 00:14:47,120 Speaker 1: home ownership classes for themselves. When we're talking about families 241 00:14:47,120 --> 00:14:50,920 Speaker 1: that live in extreme poverty, especially in this country, we 242 00:14:51,040 --> 00:14:52,680 Speaker 1: never asked them what it is that you want or 243 00:14:52,680 --> 00:14:54,760 Speaker 1: what it is that you need. It really is a 244 00:14:54,840 --> 00:14:59,120 Speaker 1: hierarchy based on us telling them what they need, what 245 00:14:59,240 --> 00:15:02,640 Speaker 1: their needs are, and it's based on deservingness or ideas 246 00:15:02,680 --> 00:15:06,600 Speaker 1: of deserving this. By though, she had become concerned that 247 00:15:06,680 --> 00:15:10,680 Speaker 1: all those programs still weren't helping enough families out of poverty. 248 00:15:10,920 --> 00:15:14,440 Speaker 1: So many of our families talk about homeownership as their 249 00:15:14,440 --> 00:15:16,880 Speaker 1: main go for themselves. They talk about the picket this, 250 00:15:17,280 --> 00:15:21,160 Speaker 1: and we weren't seeing that happen. Every story that we 251 00:15:21,280 --> 00:15:25,200 Speaker 1: heard was something that could be address with money. No 252 00:15:25,280 --> 00:15:29,040 Speaker 1: one was saying we need more programming. What we were 253 00:15:29,080 --> 00:15:33,280 Speaker 1: hearing is, oh, well, I can't get to my job 254 00:15:33,960 --> 00:15:37,240 Speaker 1: because my car isn't working and I have to pay 255 00:15:37,360 --> 00:15:41,120 Speaker 1: someone gas money to get me to my job. Or 256 00:15:41,160 --> 00:15:46,320 Speaker 1: what we heard was, you know, my daughter matriculated to 257 00:15:46,400 --> 00:15:50,120 Speaker 1: the next level of the science there. I'm really excited 258 00:15:50,160 --> 00:15:52,560 Speaker 1: for her. But now that's really stressful because I got 259 00:15:52,560 --> 00:15:55,920 Speaker 1: to figure out the twenty five dollar application fee. As 260 00:15:55,960 --> 00:15:58,960 Speaker 1: we were was listening to this and listening to families, 261 00:15:58,960 --> 00:16:02,040 Speaker 1: so they can't really frustrated because I was like, this 262 00:16:02,080 --> 00:16:05,800 Speaker 1: is stuff that can be fixed with money, and not 263 00:16:05,920 --> 00:16:08,720 Speaker 1: a lot of money, like a relatively small amount of money. 264 00:16:09,120 --> 00:16:11,560 Speaker 1: And so I begin research and I'm like, hey, how 265 00:16:11,560 --> 00:16:14,000 Speaker 1: do you give people money? Are you? Sha us Tamika 266 00:16:14,160 --> 00:16:16,800 Speaker 1: and a few other women about the idea of just 267 00:16:17,000 --> 00:16:20,480 Speaker 1: receiving some cash. She was asking us, I guess because 268 00:16:21,000 --> 00:16:23,840 Speaker 1: it would go to mothers like us, like what would 269 00:16:23,840 --> 00:16:26,920 Speaker 1: we use it for? And you know, do we think 270 00:16:26,920 --> 00:16:30,400 Speaker 1: there should be stipulations that come with it? And us 271 00:16:30,440 --> 00:16:36,520 Speaker 1: being so used to think having stipulations, we were like, yeah, 272 00:16:36,560 --> 00:16:39,440 Speaker 1: it should be some stipulation. You know, you shouldn't just 273 00:16:39,520 --> 00:16:42,280 Speaker 1: give it away. Our moms were very clear that they 274 00:16:42,280 --> 00:16:45,320 Speaker 1: did not want to become dependent when it's money. They 275 00:16:45,360 --> 00:16:48,960 Speaker 1: wanted it really to be a springboard. The first year, 276 00:16:48,960 --> 00:16:54,640 Speaker 1: it was a lot of even though our mom's love 277 00:16:54,680 --> 00:16:57,880 Speaker 1: and trust us, there was a lot of girl quick playing, 278 00:16:57,960 --> 00:17:00,520 Speaker 1: y'all just not gonna give us money? One to women 279 00:17:01,160 --> 00:17:04,000 Speaker 1: send me It's like, you should this really sounds like 280 00:17:04,040 --> 00:17:05,960 Speaker 1: a scam us And I was like, you're right, this 281 00:17:06,160 --> 00:17:09,639 Speaker 1: really does sound like a scam, and If anybody else 282 00:17:09,680 --> 00:17:11,960 Speaker 1: ever calls you're saying they're going to do this, don't 283 00:17:12,000 --> 00:17:18,200 Speaker 1: believe them. You're exactly right. Finding the money to fund 284 00:17:18,240 --> 00:17:22,400 Speaker 1: the program, even two years into the pandemic, still isn't easy. 285 00:17:22,760 --> 00:17:26,399 Speaker 1: Like almost all of the local guaranteed income experiments across 286 00:17:26,440 --> 00:17:30,480 Speaker 1: the country, the Magnolia Mother's Trust depends on philanthropy, not 287 00:17:30,640 --> 00:17:34,680 Speaker 1: public money. Less than one percent of philanthrophic dollars come 288 00:17:34,720 --> 00:17:37,360 Speaker 1: to the South, and of that one percent, less than 289 00:17:37,400 --> 00:17:40,359 Speaker 1: one percent goes to organizations that are run by black women. 290 00:17:41,040 --> 00:17:47,399 Speaker 1: Are black people. We have successfully helped us. You're in 291 00:17:49,000 --> 00:17:53,639 Speaker 1: a new movement which feels really, really good. And to 292 00:17:53,800 --> 00:17:57,399 Speaker 1: know that we are doing all of that in the 293 00:17:57,480 --> 00:18:03,240 Speaker 1: backyard of one of the least progressive states in this 294 00:18:03,400 --> 00:18:06,880 Speaker 1: country is pretty dope. In the first year of the program, 295 00:18:07,119 --> 00:18:10,560 Speaker 1: Aisha raised enough money to give twenty mothers a thousand 296 00:18:10,560 --> 00:18:13,560 Speaker 1: dollars a month. I know that for the families that 297 00:18:13,600 --> 00:18:16,880 Speaker 1: we work with, in a lot of instances, poverty has 298 00:18:16,880 --> 00:18:21,879 Speaker 1: been systemic, and it's been generational poverty. And I know 299 00:18:22,160 --> 00:18:26,680 Speaker 1: that we are disrupting that pattern and saying, Okay, we 300 00:18:26,960 --> 00:18:29,679 Speaker 1: see you, trust you know your brilliant, we know you 301 00:18:29,760 --> 00:18:32,479 Speaker 1: have agency we know that you should be allowed to dream, 302 00:18:32,480 --> 00:18:35,720 Speaker 1: just like I'm allowed to dream. Since then, the Magnolia 303 00:18:35,800 --> 00:18:38,760 Speaker 1: Mother's Trust has been able to include about a hundred 304 00:18:38,760 --> 00:18:42,399 Speaker 1: women each year, and Aisha has seen just what she 305 00:18:42,760 --> 00:18:45,800 Speaker 1: and lots of others expect to see. When people get 306 00:18:45,840 --> 00:18:49,600 Speaker 1: extra cash during the pandemic, they could pay their rent, 307 00:18:49,920 --> 00:18:52,560 Speaker 1: buy enough food for their families, make sure they had WiFi. 308 00:18:52,800 --> 00:18:56,840 Speaker 1: They go about living their lives and they go about 309 00:18:56,880 --> 00:19:01,160 Speaker 1: taking care of business. They get their car repaired, they 310 00:19:01,200 --> 00:19:04,600 Speaker 1: pay off debt, they go back to school, they get 311 00:19:04,640 --> 00:19:07,879 Speaker 1: better jobs because now they actually can't take off work 312 00:19:07,920 --> 00:19:10,560 Speaker 1: because you know, if you're working an hourly job, you 313 00:19:10,600 --> 00:19:13,399 Speaker 1: don't have PTO where you can take off work to 314 00:19:13,440 --> 00:19:16,679 Speaker 1: go interview for a job. For Tamika, the extra cash 315 00:19:16,920 --> 00:19:19,439 Speaker 1: sort of raised the stakes as it was coming to 316 00:19:19,480 --> 00:19:21,600 Speaker 1: an end. She didn't want to go back to life 317 00:19:21,600 --> 00:19:24,640 Speaker 1: on fourteen dollars an hour. I need to be able 318 00:19:24,680 --> 00:19:29,679 Speaker 1: to make an income that either matches this or surpass it. 319 00:19:30,119 --> 00:19:32,680 Speaker 1: And when I say this, I mean my job plus 320 00:19:33,400 --> 00:19:37,800 Speaker 1: the Magnolia Mother's Trust money. So Tamika decided to look 321 00:19:37,840 --> 00:19:41,639 Speaker 1: for another career and she found one. I worked for 322 00:19:41,680 --> 00:19:47,400 Speaker 1: a company that helps their members become homeowners. So they 323 00:19:47,560 --> 00:19:50,840 Speaker 1: apply with us to get their loan, and what we 324 00:19:50,920 --> 00:19:55,520 Speaker 1: do is we give them financial counseling to get them 325 00:19:55,560 --> 00:19:59,080 Speaker 1: ready for the home ownership process. It's fulfilling for me 326 00:19:59,640 --> 00:20:02,800 Speaker 1: to know that I helped them achieve their goal, a 327 00:20:02,880 --> 00:20:06,359 Speaker 1: goal that I want for myself, so I know how 328 00:20:06,400 --> 00:20:11,160 Speaker 1: they feel. Jamika started her new job in November. Didn't 329 00:20:11,160 --> 00:20:13,800 Speaker 1: she realized that with her higher salary she was likely 330 00:20:13,840 --> 00:20:17,440 Speaker 1: to lose her housing subsidy. She could finally afford to move, 331 00:20:17,920 --> 00:20:20,879 Speaker 1: even if she couldn't yet afford to buy. Her family 332 00:20:20,960 --> 00:20:23,719 Speaker 1: left the apartment for a house with a backyard. I 333 00:20:23,760 --> 00:20:26,840 Speaker 1: was able to move, and we didn't have to worry 334 00:20:26,840 --> 00:20:31,439 Speaker 1: about using the whole paycheck to pay for the first 335 00:20:31,480 --> 00:20:36,240 Speaker 1: month's orient or paying the deposit. Not only that, my 336 00:20:36,359 --> 00:20:40,280 Speaker 1: kid's dad he ended up finding another job, and now 337 00:20:41,200 --> 00:20:44,560 Speaker 1: that he's been at that job, his salary has increased. 338 00:20:44,640 --> 00:20:48,359 Speaker 1: So all of that encouraged us to just want more. 339 00:21:03,000 --> 00:21:05,240 Speaker 1: Some of the women who got cash from the Magnolia 340 00:21:05,280 --> 00:21:09,440 Speaker 1: Mother's Dress might otherwise have fallen through the cracks. Sharika 341 00:21:09,520 --> 00:21:14,200 Speaker 1: Washington had suffered a difficult pregnancy, couldn't work, didn't qualify 342 00:21:14,240 --> 00:21:18,160 Speaker 1: for unemployment she was still recovering from an umbilical hernia 343 00:21:18,440 --> 00:21:22,000 Speaker 1: in March when she learned she'd be getting a thousand 344 00:21:22,040 --> 00:21:24,919 Speaker 1: dollars a month for the next year. First we was like, 345 00:21:24,960 --> 00:21:28,240 Speaker 1: what's the kid? You know, it's gotta be a kitch somewhere. 346 00:21:28,320 --> 00:21:30,760 Speaker 1: What is the kitch? When she found out there was 347 00:21:30,800 --> 00:21:33,920 Speaker 1: no catch, Sharika told her kids that she could get 348 00:21:33,920 --> 00:21:36,560 Speaker 1: them a treat, a nerf gun for her eight year 349 00:21:36,600 --> 00:21:40,119 Speaker 1: old son and for her six year old daughter, her prince. 350 00:21:40,119 --> 00:21:46,760 Speaker 1: There's petty. She's into the nail polish and the lip 351 00:21:46,840 --> 00:21:52,520 Speaker 1: clouds and the lip baby bracelet and hers than Sharika 352 00:21:52,760 --> 00:21:57,080 Speaker 1: got herself a car. It was seventheen hundred. I had 353 00:21:57,080 --> 00:22:00,520 Speaker 1: a two thousand and seven port focused look Gray Little 354 00:22:00,520 --> 00:22:02,879 Speaker 1: Doo Biggie And once I get the card, I was 355 00:22:02,920 --> 00:22:06,520 Speaker 1: still able to manage the money to bill. You know, 356 00:22:06,600 --> 00:22:09,400 Speaker 1: it was the big help. It was a big financial help. 357 00:22:10,160 --> 00:22:12,680 Speaker 1: When I talked to Sharika and March, she was about 358 00:22:12,680 --> 00:22:15,119 Speaker 1: to receive the last of the cash. She had just 359 00:22:15,160 --> 00:22:18,240 Speaker 1: found a job working in a nursing home, making over 360 00:22:18,320 --> 00:22:20,879 Speaker 1: ten dollars an hour. It wasn't as much as she 361 00:22:20,920 --> 00:22:23,600 Speaker 1: had hoped to earn, but she was excited all the same. 362 00:22:23,800 --> 00:22:26,760 Speaker 1: Can you believe it? Oh my goodness, I want to 363 00:22:26,880 --> 00:22:31,320 Speaker 1: two interviews with my daughter, Oh my hip, But I 364 00:22:31,480 --> 00:22:36,040 Speaker 1: thought one Monday at seven in the morning. What's twelve worth? 365 00:22:36,720 --> 00:22:41,720 Speaker 1: Peace of mind? Some hope. New local programs like the 366 00:22:41,760 --> 00:22:46,280 Speaker 1: Magnolia Mother's Trust are starting almost every month. And while 367 00:22:46,320 --> 00:22:49,840 Speaker 1: the idea of cash grants may seem like something reserved 368 00:22:50,000 --> 00:22:54,600 Speaker 1: for these small pilot projects funded only by philanthropists, there's 369 00:22:54,600 --> 00:22:57,440 Speaker 1: actually a recent example of how to scale this up 370 00:22:57,440 --> 00:23:02,120 Speaker 1: in the US. It's the Child Tech Credit. Families got 371 00:23:02,200 --> 00:23:05,080 Speaker 1: up to three dollars a month for each child. The 372 00:23:05,160 --> 00:23:07,840 Speaker 1: check just came in the mail. It was one of 373 00:23:07,920 --> 00:23:12,400 Speaker 1: several government funded stimulus programs during the pandemic. I think 374 00:23:12,400 --> 00:23:15,160 Speaker 1: the child tax Credit is a perfect example of what 375 00:23:15,640 --> 00:23:18,600 Speaker 1: a targeting, guaranteeing and come program will look like at 376 00:23:18,600 --> 00:23:23,399 Speaker 1: a federal level. We got a blueprint right there. And 377 00:23:23,440 --> 00:23:26,600 Speaker 1: the only thing we have a blueprint, we have data, 378 00:23:26,840 --> 00:23:30,520 Speaker 1: a plethora of data that showed in real time what 379 00:23:30,720 --> 00:23:35,000 Speaker 1: both resources meant for families. But the momentum for more 380 00:23:35,000 --> 00:23:40,159 Speaker 1: permanent national support has faded. The child tax Credit wasn't extended, 381 00:23:40,680 --> 00:23:44,960 Speaker 1: stimulus checks won't becoming again. And for opponents of these 382 00:23:45,040 --> 00:23:48,720 Speaker 1: kinds of programs, the data maybe besides the point, that's 383 00:23:48,760 --> 00:23:52,160 Speaker 1: not really what the what the battles are about. Right again, 384 00:23:52,200 --> 00:23:56,439 Speaker 1: They're about deserving nous and you know what kind of 385 00:23:56,480 --> 00:23:58,600 Speaker 1: safety net we want and what kind of society we 386 00:23:58,640 --> 00:24:01,919 Speaker 1: want to be, And that's a that's an ongoing battle. 387 00:24:02,480 --> 00:24:09,959 Speaker 1: I was not naive to not really understanding how pervasive 388 00:24:10,760 --> 00:24:17,120 Speaker 1: ideologies around deservedness really are, and that how we truly 389 00:24:17,680 --> 00:24:22,560 Speaker 1: view poor people within this country, um is that they 390 00:24:22,600 --> 00:24:26,920 Speaker 1: deserve to be poor because of behavioral choices, not recognizing 391 00:24:26,960 --> 00:24:29,520 Speaker 1: that they are poor because of systemic choices, because of 392 00:24:29,520 --> 00:24:33,720 Speaker 1: policy choices that are put in place, and because of 393 00:24:33,720 --> 00:24:38,359 Speaker 1: policy choices that, if I'm being honest, the majority of 394 00:24:38,400 --> 00:24:40,760 Speaker 1: us aloud to be put in place. And I also 395 00:24:40,800 --> 00:24:44,480 Speaker 1: say this other part that's been hard, and this is 396 00:24:46,240 --> 00:24:52,080 Speaker 1: I think it's the most damning part of poverty. But 397 00:24:52,119 --> 00:24:54,760 Speaker 1: this is also I think a tactic of the system 398 00:24:54,800 --> 00:24:59,680 Speaker 1: of how they work is that because the mainstream narrative 399 00:24:59,760 --> 00:25:03,199 Speaker 1: is real about behavioral ships and behavioral changes that need 400 00:25:03,320 --> 00:25:05,680 Speaker 1: took her so many of the women that we worked 401 00:25:05,720 --> 00:25:10,000 Speaker 1: with the actually believe that. And they believe that, oh, 402 00:25:10,400 --> 00:25:13,040 Speaker 1: if I work enough or if I save enough, or 403 00:25:13,080 --> 00:25:16,439 Speaker 1: if I do more of this, then I will have 404 00:25:16,560 --> 00:25:21,040 Speaker 1: that American dream. And that's just not the reality. You 405 00:25:21,119 --> 00:25:23,480 Speaker 1: can't work any harder than you're already working, if you 406 00:25:23,560 --> 00:25:27,199 Speaker 1: have three jobs. But they don't see that because the 407 00:25:27,280 --> 00:25:30,520 Speaker 1: mainstream narrative is that they're the problem, and they buy 408 00:25:30,520 --> 00:25:42,040 Speaker 1: you into that deserving No. That's something that also came 409 00:25:42,119 --> 00:25:44,840 Speaker 1: up in my conversation with Ben when I asked him 410 00:25:44,920 --> 00:25:47,720 Speaker 1: why the response to the pandemic was so different from 411 00:25:47,800 --> 00:25:51,320 Speaker 1: previous economic crisis in the US. He said that for 412 00:25:51,320 --> 00:25:54,760 Speaker 1: a brief moment, nobody blamed anyone for being out of 413 00:25:54,800 --> 00:25:59,359 Speaker 1: work or needing help. They blamed the virus. That's not 414 00:25:59,400 --> 00:26:03,520 Speaker 1: how people generally see poverty here. Tamika, for her part, 415 00:26:03,840 --> 00:26:06,920 Speaker 1: thinks the policymakers are getting it wrong. I think there's 416 00:26:06,960 --> 00:26:11,119 Speaker 1: a disconnect. I don't think that they see the struggle. 417 00:26:11,320 --> 00:26:13,520 Speaker 1: I think the people who are making the rules are 418 00:26:13,600 --> 00:26:16,600 Speaker 1: not on the ground with them, you know, with the 419 00:26:16,600 --> 00:26:19,560 Speaker 1: people who are actually out here working and trying to 420 00:26:19,640 --> 00:26:23,520 Speaker 1: make a living for people who can't work but want 421 00:26:23,680 --> 00:26:26,960 Speaker 1: a better life, like they deserve to be in nice 422 00:26:27,000 --> 00:26:30,880 Speaker 1: houses too, and not everybody's just looking for a handout. 423 00:26:31,040 --> 00:26:34,119 Speaker 1: Some people actually want to live and live a better life, 424 00:26:34,160 --> 00:26:38,400 Speaker 1: but they have limited resources. We're not asking for a handout, 425 00:26:39,320 --> 00:26:44,560 Speaker 1: We're asking for help. Like just we're working. We're getting 426 00:26:44,640 --> 00:26:46,760 Speaker 1: up every day doing what we're sponsible. We just want 427 00:26:46,800 --> 00:26:53,240 Speaker 1: to be able to provide for our children next week. 428 00:26:53,280 --> 00:26:54,919 Speaker 1: On The Paycheck, we had to a part of the 429 00:26:54,920 --> 00:26:58,560 Speaker 1: world that had lefted millions out of poverty by educating 430 00:26:58,600 --> 00:27:02,600 Speaker 1: young girls until a pandemic hit. Now those girls are 431 00:27:02,640 --> 00:27:05,680 Speaker 1: trying to get back on track. For me, I see lights, 432 00:27:06,480 --> 00:27:09,240 Speaker 1: I see like I'm going to that move that I wanted. 433 00:27:09,600 --> 00:27:12,240 Speaker 1: Thanks for listening to The Paycheck. If you like our show, 434 00:27:12,400 --> 00:27:14,720 Speaker 1: please head on over to Apple Podcast or wherever you 435 00:27:14,800 --> 00:27:18,640 Speaker 1: listen to podcasts and rate, review and subscribe. This episode 436 00:27:18,680 --> 00:27:22,480 Speaker 1: was hosted by me Rebecca Greenfield and reported by Susan Burfield, 437 00:27:22,560 --> 00:27:25,320 Speaker 1: Sarah Holder, and Ben Steve Berman. It was edited by 438 00:27:25,440 --> 00:27:29,480 Speaker 1: Nicole Flata with help from Francesca Levy, Janet Paskin, Rocksheeta Soluja, 439 00:27:29,600 --> 00:27:32,560 Speaker 1: and Meat. We also had editing help from Daniel Balby, 440 00:27:32,680 --> 00:27:36,680 Speaker 1: Shelley Banjo, Kristin b Brown, Gilda to Carle, Elissa McDonald, 441 00:27:36,680 --> 00:27:39,879 Speaker 1: and Kai Schultz. This episode was produced by Gilda de 442 00:27:39,960 --> 00:27:43,560 Speaker 1: carl and sound engineered by Matt kim Our. Original music 443 00:27:43,640 --> 00:27:45,960 Speaker 1: is by Leo Sidrin. The women you heard at the 444 00:27:45,960 --> 00:27:48,800 Speaker 1: top of the show were to Mika Calhoun, Dwanna to Johnson, 445 00:27:49,040 --> 00:27:53,680 Speaker 1: Elsie McCoy, and Sharika Washington. Special thanks to Magnus Hendrickson, 446 00:27:53,800 --> 00:27:58,760 Speaker 1: Mckinninda Keeper, Margaret Sutherland, Stacy Wong, and Aisha Yellow. Francesca 447 00:27:58,840 --> 00:28:01,600 Speaker 1: Levy is Bloomberg's head of Podcasts. See you next week. 448 00:28:08,280 --> 00:28:08,320 Speaker 1: M