$2,000 Easter Day stimulus check update. I have all the details and everything you need to know right here on this topic. As I am your one and only daily advocate and I’m very much dedicated to you and this community to do all the research to boil it all down into these short topics so that you can stay updated with everything going on during this very busy time. So again, thanks so much for visiting our site. All right, So the big question that all of us want to know, will there be a $2,000 Easter Day stimulus check, which would also be a fourth stimulus check?
So I do want to talk through all the details where we currently stand, any of the latest updates that are out there right now, as well as talking about all the information regarding a $2,000 stimulus check and let you know where we currently stand with this stimulus check, or honestly, any stimulus check of any price. So let’s get into all the details. All right So first off, I do like to keep you updated on this every so often and let you know what is going on with this $2,000 stimulus check petition. Remember that one?
This is the one that’s been around for a couple of years now. It has over 3,040,000 signatures. So it’s still gaining signatures literally every single day. I stop in and look at it every couple of weeks here. But I’d like to give those updates to you just so that we can all be on the same page and kind of keep an eye on this thing because ultimately this thing is still gaining signatures.
And a lot of people out there are wondering when and where can I get some extra money in regards to a stimulus check right here, right now. Also, I do want to talk about a previously reported report that was sent out by the Committee for a Responsible Budget. Now, this is actually really interesting because this is the committee that actually does all the calculations. Right. They sit there with their calculators and they figure out how much all these bills and different things that Congress actually pushes through will actually cost the federal government and or taxpayers at the end of the day.
So I want to give you some numbers behind this. So when they ran their calculations on this, they estimated that sending out a $2,000 stimulus check would cost anywhere between $300 billion and $435 billion. However, here’s the difference. That would have been sent out to over 170,000,000 households, millions and millions and millions of people and households. Right?
So that’s where that price tag is actually coming from $300 to $435, billion dollars. However, here’s the difference as we continue to fast forward here and look at the current time where we are right here, right now. As we talked about previously in other reports and in other videos, we know that we would need a highly focused stimulus check. We don’t need a broad $2,000 stimulus check going out to 170,000,000 households. That is simply not needed right now.
And honestly, that would just exacerbate the entire inflation situation that we’re currently in right now. But rather, we need a highly, highly focused stimulus check on about 50 million people, probably even less than that. These would be the lowest income individuals out there, seniors, the elderly, fixed income beneficiaries, people with disabilities, Social Security, SSDI, retirement survivors, SSI, VA, and RRB, as well as just low income and no income. This encompasses about 50 million people, actually more like a little bit less than that. So here’s what it would actually look like, even though that we saw the report out of the Committee for a Responsible Budget estimating about $300 to $435 billion.
And what they also said in that same report is that this would also generate between 200 and $300 billion of economic activity. Now, you would think if they sent out $300 to $435 billion, it would also translate into about the same dollar amount in economic activity. You would think so. But the difference is when they send out money to people who are maybe a little bit higher income or who have a bunch of money stashed away, as in saved money and they don’t spend it, but rather they save it. That is not economic activity.
When people save money, that money is not circulating through the economy. Therefore, it does not have a velocity of money and it does not have any economic activity Right. So here’s the difference, though, as we’ve seen with all these reports that we’ve talked about in previous topics, the low income, and the fixed income, all of these individuals take the money and spend it very quickly on the necessities. Therefore, the economic activity to send out a $2,000 stimulus check to 50 million people would actually be much greater because these individuals are the ones who actually need the money to spend rather than stash away like a lot of higher-income people who maybe don’t need the money.
Right. So the economic activity between sending out a $2,000 stimulus check to 50 million people would actually have much greater economic activity and impact going forward in a really, really good way to help stimulate the economy, especially right now as things are slowing down because of all of this massive, massive inflation. Now, here’s what we also seen in a few recent reports as well, that if we sent out a $2,000 stimulus check, which, by the way, it would cost about $100 billion in the event that they sent out a $2,000 check to 50 million people, now again, I’m just using round numbers here for easy mathematical purposes. However, the actual number that would need the actual number of people that would actually need a $2,000 stimulus check. Like I said, maybe 50 million people.
It’s realistically, probably more like 40 to 45 million people. Therefore, it would save anywhere between about 510, maybe even $15 billion for the federal government. So that’s kind of a big deal, right? So at the end of the day, as we look at all these numbers and everything going on right now, it would realistically not cost all that much to send out a $2,000 stimulus check for about 50 million people. Like I said, it would cost anywhere between about 80 and $100 billion.
At the same time, there would be almost equal to that economic activity because here’s what we know. According to the reports, these people would go out and gather the money and then go out and spend it almost immediately on the necessities food, clothing, gas, in our cars. I mean, all the things that we know that we would actually buy all the necessities. Right. And this is a really, really good thing because as the reports have shown, we want to stimulate the economy with this money, which is exactly why they are called stimulus checks.
Right. So as we continue to approach Easter here in a matter of just days, the big question looming out there right now is will there be a $2,000 stimulus check for Easter day? Now here’s what’s interesting about it. As we worked our way through the previous big holidays, like Thanksgiving, Christmas, New Year’s, do you remember that from a few months ago? We actually came into these other holidays, and there were multiple reports floating around at that time where there were these big groups of people that were coming out essentially saying, let’s get a $2000 stimulus check before this next big holiday.
And there were these big pushes and a lot of extra activity and talk out there on social media, as well as a variety of other places, articles, and all kinds of different things coming out, talking about a $2,000 stimulus check at that time, basically using the holiday as kind of like a backdrop or a timeline to really push Congress and put the heat on Congress to actually get something done before that big holiday Right. So here we are, only a matter of days out from Easter, and I think a lot of us are wondering, are we going to be getting essentially a golden egg dropped into our pocket? Right? Well, essentially it’d be about a 1oz gold egg because gold is about $2,000 an ounce right now.
So essentially we could get a little teeny tiny golden egg, and essentially it’d be about two grand. So kind of put it into perspective right there. Right. So gold is also up significantly, but that’s not what we’re talking about in this topic. But anyway, I do want to mention this as well.
As we do know previously, there were over 80 members of Congress who have been in support of a $2000 stimulus check. And realistically, they also wanted ongoing monthly checks for the low income and the fixed income. Do you remember all this? Over 80 members of Congress. In fact, let me break it down for you.
56 members of the House of Representatives all cosigned a letter that was sent over to the President calling on him to issue a $2000 stimulus check plus monthly checks. Well, shortly thereafter, we also got that same letter. Well, it wasn’t the same letter, but it was a very similar letter drafted by 21 members out of the Senate, I shouldn’t say members more like 21 senators out of the Senate who drafted this letter, signed it and sent it over to the President calling on him to issue a $2,000 stimulus check again, plus monthly recurring payments. And then shortly thereafter, we had six members out of the House Ways and Means Committee once again showing their support for extra stimulus checks and stabilizers. Therefore, all of these numbers put together puts us over 80 people in Congress that are in support of $2,000 stimulus checks and ongoing monthly payments.
Now here’s what else we know. Over the last maybe month, maybe five weeks or so of time, we’ve seen multiple different people in Congress coming out talking about simulation checks. Remember this? We’ve gone through all the different proposals. There’s about seven or eight, maybe nine different proposals that are out there right here, right now talking about direct payments, direct checks, stimulus checks, tax rebates, tax credits, tax vouchers, gas vouchers.
Remember all this? We’ve talked about all these in previous videos. We do know that there are multiple different lawmakers out there right here, right now that are pushing for these direct payments or stimulus checks for the low income and the fixed income. And as Nancy Pelosi confirmed, maybe what was it about a week and a half maybe? It wasn’t even quite two weeks ago yet.
It was about a week and a half ago. Nancy Pelosi, in her weekly news conference, confirmed that lawmakers were currently working on the details of direct payments or stimulus checks for the people.
So again, since Nancy Pelosi made that announcement during her weekly press briefing, haven’t really seen any additional details on that quite yet. So either way, we do know that Congress is working on this, and we kind of have our backs against the wall right now when it comes to a timeline on this, because if they get something done, it either needs to be completely done and passed before the midterm elections or it needs to be very seriously considered. And they need to be talking about it pretty aggressively prior to the midterm elections because they know that’s the way to our hearts right now is basically giving us some money. Right. So Congress knows just as well as we do that they’re looking for a way that they can get secure some votes going into the midterm elections.
And again, this is not a political statement. This is something that all parties do. They always have, and they’re always trying to do something to gather votes Right. Well, here’s the deal.
As we approach the midterm elections, we recognize that they know and we know just as much that they need to do something to secure more votes going forward. And they know that a lot of times, especially during a very difficult time right now, that money is generally the answer to get to the people and really kind of help people out. Well, it’d be unfortunate if they were playing a political game right now and waiting on sending stimulus checks out for the people until they could actually secure some votes. I feel like that’d be completely wrong. But you never know.
There are a lot of political games that go on out there right now, and there are a lot of different things that are happening. But anyway, as of right now, I want to throw this out there so that there is no miscommunication, no misunderstanding so that we are all on the same page. As of right now, a $2,000 stimulus check has not been approved yet. However, we do know that Congress is currently working on direct payments, stimulus checks, vouchers, tax rebates, tax credits. We all know this.
But let me recognize let me throw this out there one more time for you. First, just because something is called a tax rebate or a tax credit, don’t feel like, oh, that means I have to have a job or I need to file a tax return. No, it doesn’t mean that at all. It simply means it’s a different name for a simulation check. Simulations, checks are exactly that all it was in advance on a refundable tax credit.
That’s all that the previous stimulus checks were. It was advanced. So basically, the federal government, as in the IRS, advanced you the money on a tax credit that was going to show up on your tax return anyway, whether you file or you don’t file. So that’s why they sent it out. They sent it out as an advance payment.
Right? So just like a cash advance on a credit card. Same exact thing that the IRS did for us. They just did it on a massive, massive scale, right. Millions of people, actually.
Hundreds of millions of people is what they did. So anyway, so I want to make sure that all of us are on the same page with this and let you know what’s actually going on out there. But we’ve got to continue doing everything we possibly can to get out to Congress and to remind them as well at this point, just do whatever we possibly can to get into the skin of Congress and let them know, hello, where have you guys been? There are a lot of people that are struggling right now, especially the low income and the fixed income, who certainly need a $2,000 stimulus check right here, right now. Anyway, I’ll keep you posted as we do.
So please enjoy your day, stay safe out there and I will keep you posted with any new details that we get going forward. Thanks again. I’ll see you soon in the next stuff. bye