What Will You Spend Your $1,000 Stimulus On?
- Thread starter Remo Gaggi
- Start date
More money should have went to the citizens of this country(households under $200K), small business (Less then 5000 employees) and not these corporations. A lot of these corporations have been having record years the last 4-6 years and are now getting a check from the government.
I get the point behind it.
But a one time $1200 payment isn't going to do sh*t for some people.
But a one time $1200 payment isn't going to do sh*t for some people.
How are they going to apply this to people who have passed away? If they use 2018 returns, I am guessing there are a lot of people deceased between 2018 and today.
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Correct, but if you still have a job and getting paid, should you still you get it?
I approve of the increased payments for the unemployed.
I do question my parents getting money when their social security and pension is still paying them.
I think his point is that if someone is struggling, out of work, etc., and this thing drags on for too long then a one time payment of $1,200 is a very minimal stopgap.
Ah I read his post wrong. Thought he said that 1,200 isn't sh*t to some people. my bad.
They'll have to do another one in a month. Or something similar once all the unemployment applications come in.
People also have to spend it, but spend it wisely......you know there'll be reports of someone complaining about not having enough for rent or food because they bought $1200 worth of pot to smoke in their basement during quarantine.
This package isn't just to put money into the pockets of the unemployed. They are hoping it will boost the economy. This thread proves their point. Most people are either going to make large purchases or put it into the stock market. Both of which the country needs more of.
I think there are merits to it. I will likely spend my $1,200 kind of frivolously which should stimulate the economy in some of the places that are hurting.
I don’t really need it but I am likely going to be much more prudent with my regular pay for the next while.
Most people won't be doing that. Most people are worried about what is going to happen and will put it away or use to pay bills
This is what has happened with rebates in the past.
And with so many stores closed, I don't see what options people really have for spending stimulus checks, outside of food and rent.
Right, this is what I was getting at.
I understand it's going to be a nice sum of money for some people out there. But in the grand scheme of things when you have $800 rent (cheap) 2 kids and no income.. $1200 will be gone as soon as you get it.
According to the article I found above, they'd receive $500 per dependent under 18 in this scenario. And assuming it's a married household that fully fits under the doubled individual threshold, they'd be getting $3,400.
Not saying that's going to fix problems for those severely impacted, but if the article is correct, that's definitely going to provide some aid at a time of need and should at least soften the transition.
