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You ONLY live on Social Security? If so, that's one heck of a government check that you get each month. The average Social Security benefit was $1,503 per month in January 2020. The 2020 poverty line for a single person household as defined by HHS is $12,760/year or $1,063/month, so the average senior whose only income is SS is living at 125% of the poverty level. (Stats here)
I congratulate you on both your thrift and your fortitude. Most folks with an income of only $1,503/month would be delighted with that government check, but you Sir, are a man of fortitude. One government check per month - no matter how small - is plenty for you. Bravo! Too bad other low income seniors often are grateful for a bit of extra money that can help with outstanding bills and unexpected expenses. Let 'em eat cake! Right?
Your grasp of economic realities is simply amazing. Yes, the government hopes people will go out and spend that check on paying bills or maybe even use it toward something like the purchase of a desperately needed second hand car to replace the old beater that gave out a while back, etc., etc. Maybe you can send your check back since you are able to live on merely air and sunlight like an ancient Tibetan Buddhist monk. Kudos.
I most def does not. If I owe 2000 on a credit card and I use the check to pay it off I didn't stimulate anything. If I use that 2000 as a down payment on a new car I just kept that dealership afloat and a whole lot of other related jobs.
Short answer: They don't. The entire thing has been botched by our esteemed politicians.
I'm giving my stimulous money to the food bank and I'm calling for everyone else in the same position to do the same. If not the food bank then some other decent organziation.
And then watch the economy crash AGAIN and lead to a depression? Yeah. Great idea. Food banks don't stimulate the economy. You have an issue with capitalism fine. But that's our system. Capitalism only works if people spend spend spend. If Americans became fiscally responsible and only consumed what they needed (like the ye old days) the whole thing would come crashing down and social unrest would be like something out of a dystopian netflix series.
I most def does not. If I owe 2000 on a credit card and I use the check to pay it off I didn't stimulate anything. If I use that 2000 as a down payment on a new car I just kept that dealership afloat and a whole lot of other related jobs.
Seriously?
You seriously strung the two scenarios together and tell us they are different??
It's a stimulus. The govt has recognized the need to inject cash into the economy.
Stimulus money is separate from unemployment, yet so many people and the media conflate the two. The CARES act provided $600 per week for unemployment. This new bill provides $300 per week in extra unemployment. The $1200 and $600 are in addition to that.
I'd be fine with the idea of no stimulus money and it all be diverted to unemployment, tbh, but many Americans are using it to payoff debt and for savings as well. That isn't in line with how it was intended to be used, but Americans' credit scores and rates of savings have actually improved quite a lot this year.
I bought a nice firearm with the first one, may as well do the same with the next check. Common use depends on numbers.
Exactly what it was intended for. You Sir stimulated the economy. I used the first stim along with the wife and kids to put down on a new car. Didn't need the car but I wanted it and we had a nice trump check! My contribution prob helped the salesman, owner , car wash guy, mechanic , truck driver, auto plant and the community around it who support the workers. I did my part.
I'll explain that when someone explains to me why it is fair that the majority of Americans have been working through the pandemic to provide goods and services to those in areas under the control of Democrats who sat home whining about Trump not ending the pandemic in the USA.
The best stimulus remains, putting a foot up the butt of those that are not allowing people to earn a living.
It's a stimulus. The govt has recognized the need to inject cash into the economy.
Stimulus money is separate from unemployment, yet so many people and the media conflate the two. The CARES act provided $600 per week for unemployment. This new bill provides $300 per week in extra unemployment. The $1200 and $600 are in addition to that.
I'd be fine with the idea of no stimulus money and it all be diverted to unemployment, tbh, but many Americans are using it to payoff debt and for savings as well. That isn't in line with how it was intended to be used, but Americans' credit scores and rates of savings have actually improved quite a lot this year.
Yes. My savings and checking skyrocketed this year due to not going anywhere. NYC is expensive and staying home really saved me hundreds of dollars a week . Almost 500 a week in total costs. No daily breakfasts and lunches totalling 25 bucks a day. No tolls, gas, trains, plays, movies, bars, clubs, steak spots (I miss those) and other crap. I saved a ton of money and used it to pay off cards. I can see clearly that it does NOT help the economy.
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