Fourth Stimulus Check Update – Low Income May be in Luck

0
Fourth Stimulus Check Update - Low Income May be in Luck
Advertisements

A fourth stimulus check and what some people are saying should be done. I have to say I like the idea. Let’s get into it and discuss all the details. All right. So I do want to talk about this new idea that I’ve seen floating around out there. And I have to say I kind of like it.

And I think many of you in this community would also agree and probably like it as well. So as we know here, over the last week or so, we’ve seen a few different proposals popping up and even members of Congress introducing proposals to send out checks for the low income. This is great. I mean, it’s been a very long time since we’ve seen any talk about any type of direct payment, stimulus check, survival check, anything like this. So the simple fact that Congress is once again coming up with these ideas is a really good thing.

It’s a huge win. And honestly, it’s only a matter of time until we probably get more proposals like this out of Congress. But again, we’ll have to continue watching everything and see what they have up their sleeve because we have no clue what Congress is going to do. But either way, don’t worry, I’ll continue watching all of it closely and I will bring you the details on this. However, I do want to point something else out.

So as we also consider, with everything going on around the country right now and with everything going on globally, we understand that there are some economies around the world right now that are collapsing. And to be realistic, the United States economy is not too far behind. Now, again, I don’t want to be a pessimist. I don’t want to be here to scare anybody. But honestly, I think all of us recognize this.

The United States is kind of in a predicament right now where our economy is also at risk simply because of all of the massive inflation. And if the Federal Reserve fumbles a little bit on this thing and does not thread the needle perfectly. We could see the economy fall into a little bit of a recession going forward. Now, there’s a lot of economists out there. There’s a lot of people that are predicting that the United States is probably going to fall into a recession sometime in mid-2022.

So in a matter of just a few months from now, we could be looking at a pretty deep recession right here in the United States. Well, here’s what the new idea is. Now. Some people are coming out right now suggesting that Congress and the government should start issuing direct payments. In other words, stimulus checks to the lower-income individuals to help avoid a recession right here in the United States.

Here’s why. Here’s the logic behind this and what the whole idea behind this is. So with the last three stimulus checks that were distributed over the last two years, here the $1200, the $600, and the $1,400 that were distributed, there were about 200 million people that got these payments. Actually, I think it’s more than that, but again, I’m just going to round it to 200 million. There were hundreds of millions of people that got these payments.

There were actually only a small percentage of our population that did not get the checks. In fact, about 86% of our population in the United States. So only about 14% of the people out there did not get a stimulus check. The point is the vast majority of our population got stimulus checks. However, here’s what they found with all the studies.

They found that the higher-income people and those people who had savings and people that didn’t really need the money, basically all they did with it is just stash it away. They put it into savings or they did something with it other than spending it. The whole point behind the stimulus checks was to spend it to stimulate the economy and to bring it back from the depths of early 2020 when everything was being shut down. So they sent out these stimulus checks to stimulate the economy and bring things back up well, what they found is that the higher income people didn’t spend the money, but rather they saved it completely opposite of what they wanted us to do. They wanted us to spend it.

However, the studies also found that the lower-income individuals, primarily those people under $50,000 of income, took that money, went out into the economy, and they bought things that they needed food, clothing, shelter, I mean, all kinds of things, you name it. The lower-income people were out there buying all the necessities, right? No, they were not all buying big-screen TVs. No, they were not all buying luxury purses and shoes. That is not what was happening, but rather the lower-income people were out buying the things that they need, the necessities, food, clothes, all the stuff that I just went through.

This is what they found from all of these reports Well, here’s what’s interesting. We already know that based on all these reports and surveys that have been popping up, tons of them over the last couple of years here, we see that the lower-income people spend the money quickly and they help stimulate the economy. So here’s what they’re saying. The economists and the people that are suggesting this right now are saying, hey, the United States is pretty much on the brink of a recession here in the next couple of months here with everything going on in the United States, with all this inflation, with the Federal Reserve raising interest rates, with everything going on right now, there’s a high likelihood that the United States economy will be falling into a recession. Well, we know that over the last couple of years here, based on the studies, based on the reports and all the surveys that they’ve conducted, they know that the lower-income people spend money because they take that money that we send out in the form of stimulus checks, and they spend it very quickly on the necessities.

So, hey, the Brainiac idea and the great idea that they have floating around right now and again, I like this idea is let’s pump out some more stimulus checks, direct payments to the low income because we know that these people will go out and spend it right away on necessities, therefore potentially avoiding the United States falling into a recession. Pretty cool concept, right? Because here’s the thing we already know, and I’ve been saying this for a long time now. In the event that there is a fourth stimulus check actually approved, it’s likely going to be focused on the low income. We’ve been talking about this for quite a while now, and even the most recent reports and the most recent proposals that we’ve seen out of Congress are also suggesting the exact same thing.

The last three proposals that we’ve talked about here over the last week or so are all focused on sending stimulus checks or direct payments in the amounts that I’ve given in those previous topics, sending them out to the low-income individuals. Well, we know that this is a highly effective strategy to get money into the economy quickly so that these people can not only one kind of get by, but again, helping everybody buy the necessities at the same time stimulating the economy. So ultimately it’s like a threefold effect, right? They send the money out, it’s spent very quickly to stimulate the economy. Meanwhile, it’s helping the low-income individuals get everything that they need right now.

So kind of a cool effect right now. Right. Whereas, as I mentioned a minute ago, if they send this money out to the higher-income people, we know that that has almost a reverse effect, whereas it just gets stashed away in savings accounts. And that is not what they want. They want the money to be spent.

So this new idea that I’ve seen floating around is they’re basically saying, hey, let’s give some stimulus check, but let’s focus it on the lowest income people out there, and we know that they’re going to go out and spend it, and it will help avoid a recession right here in the United States. I don’t know. I think it’s a pretty cool idea. I totally endorse that idea. I’m not sure about you.

Let me know your thoughts down below. Do you like the idea? Do you endorse them sending out stimulus checks or lately they’ve been calling them direct checks, just to be totally clear with you, that is what they’re calling them now is direct checks. But honestly, it’s the exact same thing. Stimulus check, direct check, relief check, antiinflationary check, honestly, whatever it’s called, it’s all the exact same thing.

Sending out a check to the low income or just people in general and telling us to basically, hey, here’s some money, please go out and spend. It is essentially what they do with these checks. So anyway, I thought it was a cool idea. I thought it was very encouraging. And I think this would be a great way considering if we’re potentially looking at a recession here in the United States at some point here in the next few months, according to the reports and what the economists are saying right now, they’re anticipating a recession sometime basically within the next three to probably about six months or so, sometime in mid-2022.

Sorry, I was off by a couple of years in 2022. So, yeah, this would actually be a great way to do that because realistically, if a recession does come in 2022 in the United States, it’s going to impact everybody. It is a painful type of situation. Remember 2008, 2009? Yeah, a lot of people were in a pretty bad situation then. A lot of people lost their homes. A lot of people were evicted. A lot of people lost a ton of savings money that they had put away. A lot of people were hurt really badly in 2007, 2008 and 2009. So if we could avoid another one of these types of situations by simply just sending out money to the low income and telling them, please go out and spend the money.

Spend it on things that you need, food, clothes, a car, rent or a house or whatever it is, paying down bills, whatever it needs to be. All that money flows right back into the economy and ultimately would prevent maybe a recession or here’s the deal. Let’s just say that the economy still goes into a recession in the event that they do this, where they send out stimulus checks for the low income and the economy still goes into a recession. If they were actually doing this, it would probably avoid a really deep and sharp and painful recession. Maybe it would be much shorter-lived and maybe it wouldn’t be quite as deep or as painful for the vast majority of people.

So either way, if they did this, we know that money would be flowing into the economy and that people would be out simulating the economy with these checks to be sent out for the low income. Anyway, I thought it was a super cool idea. I like it. I totally endorse this idea.

I think this would be a great way to not only help out the low income, but again, hopefully actually potentially avoid some type of recession going forward. And as we’ve seen before, the higher-income people don’t need it. So don’t worry about it. They don’t need it. So therefore, they probably wouldn’t get it.

And that’s totally fine. They don’t need it. But again, I think the biggest thing here would be if we could potentially avoid a recession by sending these checks out to the low income, the higher-income people would benefit anyway because their investments anything that they may own probably wouldn’t go down in value in the event of a total collapse of either the real estate market or the stock market and all of these things like this. So it’s kind of a win-win for everybody, right? The economy stays propped up, the markets stay propped up the low-income benefit because they get direct checks I don’t know, kind of a cool idea all around.

Anyway, just another thing that I found out there while doing some research. I want to lay it all out here for you on this topic and kind of let you know what’s going on out there. But either way I do find it very encouraging here that Congress is starting to throw around these ideas. They’re starting to propose all these different things to get direct checks or payments out to the low-income. I like it.

I think we’re on a good path here and hopefully, Congress continues to play around with these ideas but as I do get more information, of course, I’ll break it all down into these short topics and I’ll let you know what I’m finding. Thanks again for watching.

I truly do appreciate it. Enjoy your day and I will catch you again later in the next update.

 

 

Advertisements

LEAVE A REPLY

Please enter your comment!
Please enter your name here