So the IRS tweeted that they have issued the first stimulus payments via direct deposit today. Anyone get theirs? We could start a list here. I haven't received mine yet. But just add your name and copy paste the list.
My grown nephew lives with four other guys. They all work at the same convenience store. It was somehow deemed essential so they were allowed to stay open. They all work part time and consistently struggle to pay their bills. The stimulus checks were a huge windfall for them. As you can imagine, for five young guys who often skip meals and have their electricity and/or water turned off at least once or twice a year, $6000 is a real blessing. In less than a week, they blew that entire amount, and then some because they were spending so fast they didn't realize how much they'd spent. What do they have to show for it? Absolutely nothing. They blew it all on coins for some game they play that is otherwise free to play. Oh, and a huge order of pizza and Mountain Dew for the first night when they stayed up over 24 hours straight playing their game. I thought I'd vent because I'm currently on the outs with several family members over this because I was the one who refused to send him some money to help him through this difficult time. Meaning the post-splurge pennilessness and not the quarantine.
Made sure to get our 2020 taxes in so we got the credit for our youngest child born in 2019
Got our check quite quickly and it has allowed us to finally have some money in the bank. We normally live pretty much paycheck to paycheck with little savings... so we are saving this as our 'Just in case' fund. Also bought Carowinds (amusement park) season passes because we live very close and from what we've seen these will now be good from the time they eventually open up through 2021.
Sounds like the Democrats in the House are trying to craft a monthly $2000 stimulus check that would include retroactive payments going back to March, and then continue every month for up to 3 months after health officials give the all clear on the virus.
This would really help people unlike the first stimulus check that doesn't even cover a month's rent in my area.
But who pays the piper later?
Money doesn't grow on trees.
I'm all for helping people in need, but isn't that where donations fit in. Plus this all seems very contrary to the earlier stance of anti handout position.
As for the"Stimulus" this Money was meant to encourage frivolous spending to boost the economy. Not as a dependency to pay rent/bills.
If a person is affected by job loss, there is a program we pay into for that. When this is over most people should be able to return to their jobs.
If this becomes a permanent situation because the Company went bankrupt, it merely happened sooner that it would have. Many Companies were on the verge of collapse before Covid, this simply hastened the process.
Far too often a short term fix like these winds up costing us long term.
The monthly cost of the proposed stimulus bill is $304B. I wouldn't complain about another boost, but that's a little nuts. My wife and I would be getting $10K a month, and my oldest would be getting another $2K on top of that. Anything we get going forward will be paying off bills and not going directly back into the economy. My daughter plans on putting it into savings to pay her impending college loans. Good for us, but not quite what's intended.