Quote:
Originally Posted by SWFL_Native
All of the people my wife works with live paycheck to paycheck and they already spent their stimulus package before receiving. One that is has 2 kids, 3 dogs, a house payment over 55% of takehome is using the funds to pay for a trip to hawaii.
Needless to say these funds aren't going to people who need it nor being spent on what we should be spending it on.
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The goal of a stimulus plan is to increase the velocity of money, and it really doesn't matter what kind of spending that involves- it all leads to economic growth.
We still haven't spent the first round of stimulus payments- it's sitting in a savings account because it dropped right when the stock market was way too volatile for our tastes to just dump into a fund and just kind of forgot to do anything with it. Second stimulus payment is getting moved into that second account with no real plan for it either.
The person who took those payments straight to the liquor store for ciggies, booze and scratch offs? They've done far, far more with their stimulus check to get the economy back on track than we have because they actually increased demand for consumer products with their actions. And hey, the scratch offs (aka the voluntary stupidity tax) even kicked some funds back into state government coffers.