$1,000 for the low income on an ongoing monthly basis. I have some very interesting information I’d like to share with you right here on this topic. I have all the details, so let’s get right into it. Alright, So since early 2020, when the first round of stimulus checks started going out, we’ve seen the massive positive impact of these payments, especially when they’re distributed to the low income and fixed income.
It’s actually a twofold effect. They send out the money and it helps out those people who need the extra cash right now. At the same time, it helps stimulate the economy, as we’ve discussed in so many different reports that have popped up over the last couple of years. While on this topic, I want to share with you another report that it has came across showing sending out an ongoing $1,000 monthly check specifically focused on the low income would actually be very beneficial not only to those people, but to the economy in a very good way. And there are advocates pushing for $1,000 ongoing monthly checks.
So I want to leave this out here for you because I do know that a lot of you here in the community are low-income or fixed income. And I think all of us are wondering the exact same thing. At what point are they going to approve another stimulus check or even better, ongoing monthly payments? So I want to talk you through the details of this report. It’s very interesting, very detailed, a lot of really good research behind this thing.
And I want to lay it out for you because it is actually a very powerful report and it may actually be something very beneficial for the low income and the fixed income, once again, advocating for additional money for all the individuals who need it so incredibly badly right now. So let’s get into that report. I want to share the details with you, but really quickly, before we do, share this topic with your friends, family, social media. As I am you’re one and only daily advocate and I’m very much dedicated to you as I’m literally doing research all day, every single day, trying to find the best information for you in this community.
I want to help you out in any way that I possibly can, as well as making sure that you’re staying updated with everything going on, including these reports, announcements, proposals, packages, anything else that may pertain to money, benefits, raise checks, anything else like that, I want to make sure that you know about it right away. All right,
So this report was actually released out of the University of Chicago School of Business. So there are actually some pretty good high profile people behind this report. And I want to show you the details of this. All right. So as we’ve seen in previous other reports, as they send out money to the low income and fixed income, we’ve seen this with multiple different reports.
Now, these people again, many people here in the community, as well as other low income and fixed income individuals, typically spend the money right away. Exactly what they want us to do. By the way, when they send us out money in the form of stimulus checks, it is not to be held onto. It is not to be saved. It is to be spent.
That is the purpose behind the checks. They don’t give us money so that we can save it. That’s not what we want to do. That’s not what they want us to do. They want us to spend it.
So when they look at all of these groups, as in the low income and the fixed income, these are the groups that they want to focus on because they say this is the group of people that’s actually doing what we want with them with the money. Right, So when they look at the checks and all the money that goes out the door, they highly focus on the low income and fixed incomes because they’re always looking at it saying, these are the groups that are actually doing what we want them to do with all this money versus the moderate and higher income who are just saving the money. That is not what we want them to do. We do not want the people to save the money.
Right, So anyway, let me tell you the details on this because it’s actually a pretty interesting report. Again, this is out of the University of Chicago School of Business. So these people that are working on this report actually identified it as marginal propensity to consume. Sounds kind of confusing. Right, But basically what it comes down to, that is a really fancy and smart way of saying basically, people that will take the money and consume it. In other words, spend it right away. Here’s what they found. Sending out a $1000 check to those individuals who are lower-income and fixed-income beneficiaries.
Sending out this $1,000 check would actually add $69 of GDP per dollar sent out. Right. But here’s the thing. Here’s what they found. Sending out a $2,000 check to those individuals who are higher income and who have a less marginal propensity to consume.
Mpc is what they’re calling it actually has a 96 cent GDP impact. So basically what it comes down to is sending out $1,000 to the low income and fixed income who have a high marginal propensity to consume. In other words, high margin ability of consumption. In other words, like spending the money right away actually has way more GDP impact, $0.69 per dollar versus sending out $2,000 to higher-income people who only have GDP impact of $96. Right
So there’s actually a huge difference. So the fact of the matter is sending out $1,000 for lower-income people is way more beneficial to the economy than sending out $2,000 to everybody, including higher-income people. Kind of makes sense. I know that’s kind of confusing with the MPC analogy and the marginal propensity to spend or sorry to consume. That’s what they’re calling it.
But like I said, it’s just a very fancy way of saying give money to the people and the likelihood of those people spending it. That’s essentially what that actually means. So I know it’s kind of some big fancy-sounding words. Honestly, it’s really smart-sounding words that I would typically never use. But my point is it’s just basically just a way of saying the likelihood of somebody taking that money and spending it quickly.
So what they’re finding with these reports is that, yes, once again, backing up everything that we’ve been finding here with all these reports over the last couple of years is that sending out money on an ongoing basis to the low income is a very effective method because they know, just like this report shows as well, these individuals will go out, spend the money on necessities, go out, spend the money on everything that is needed on a daily, weekly or even monthly basis, spending money, therefore further stimulating the economy rather than just sticking it away for a rainy day. No, that’s not what they want us to do. They want us to spend that money, stimulate the economy. They want to get that money into the system, as in buying goods and services and getting that money exchanged for those things. Right
That’s all that money is. Again, sometimes we look at money as like this big old thing, right? Oh, it’s money. At the end of the day, all it is is an exchange for goods and services. That’s it.
It’s an exchange of value. That’s it. We give a little piece of paper that has some ink on it saying $20 or whatever it says on it, and then we exchange that for three cans of soup. Well, these days that’s about all it really comes out to you now, right. So really the value is the soup and the exchange is the money.
That’s it. That’s all that money represents. Right. In exchange of value. And it’s little pieces of linen that have ink printed on it and it has whatever value they assigned to it all it is.
Right. So when we simplify this process, that’s basically what it comes down to. And again, this is actually a pretty powerful report, pretty interesting stuff as it shows ongoing monthly checks. Now here’s what else is interesting. As we talked about maybe four or five days ago, the reports that have been coming out are seeing that 4.5 million people are leaving the workforce.
Meanwhile, there’s eleven and a half million job openings out there right now. So basically what that’s showing us is that, yes, people are losing their jobs, as in quitting their jobs. The economy is contracting. Therefore, what are they going to do as there’s more people that are leaving the workforce? We need more money to get out there and spend money.
What are they going to do? You kind of see the signs behind all this. And again, we’ve seen so many other times with big, high profile people coming out saying that monthly checks, otherwise known as universal basic income or guaranteed basic income, is almost inevitable in this country. And in fact, across the world right now, there are countries that are already sending out guaranteed basic income and ongoing monthly checks. In fact, right here in the United States, there are multiple different cities, States, counties, and localities that are already sending out these checks.
I’ve been talking about some of them lately because there’s a whole pile of them that have been popping up lately. And it’s kind of where the country is leaning toward, especially with all these States, cities, counties, localities that have tons and tons of money that was sent out from the last stimulus package. Anyway, when I come across reports like this, I always like to share them simply because it’s pretty powerful to see the reports and some of the studies as far as everything that is being discovered by all of these very smart people that are researching everything at a very deep level, and they continue to come up with the same conclusion time and time again. Sending out money to the low income is by far the most efficient way to get money into the pockets of the people. Again, we found that before, and we’ve seen that with other reports that sending money out in the form of direct payments is the best and most effective way.
It’s equitable and it gets money into the pockets of the people very fast. Now, this is a very good method. And again, just another report showing the power behind $1,000 ongoing every single month. So kind of like the Apple a day, in this case, $1,000 a month. Well, it’s not quite a day, but that certainly would be pretty nice for a lot of people.
Could you imagine? Yeah, that’d be pretty amazing for a lot of people. But obviously that’s not going to be happening, but rather $1,000 a month would certainly be very helpful and beneficial in a lot of ways. Also, one more side note, I want to throw this out there as well where you remember presidential candidate Andrew Yang is also a huge proponent of $1,000 ongoing checks. Right, He was kind of the guy that kind of stepped up years ago and said $1,000 ongoing at UBI, universal basic income payments for everybody. And that whole idea kind of stuck and it’s been around for a very long time and he’s still a proponent of UBI. Anyway, I just want to throw that out there because it’s pretty interesting. I hope you’re having a nice day so far. Thank you so much for reading this.
Please make sure to subscribe down below. Again, I’m doing my best to find all the best reports I can find all the best relevant information for all of you right here in this community. So just remember, I’m doing my best to find you the best information, as well as keep you updated with everything going on and making sure that you’re staying tuned with any reports, money, benefits, programs, or anything else we can possibly take advantage of during this time. Thanks again for reading this. I truly appreciate it.
I’ll see you for now. See ya bye.