Quote:
Originally Posted by retiredguy123
In my opinion, there are two problems.
One, by combining two bills, you can't vote for one, and not the other.
And, second, both bills are spending way too much money that the country doesn't have, thereby increasing the National debt. Even the COVID part sends $600 checks to everyone making less than $75,000, even if they have a Government job and were never affected financially by the pandemic.
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The idea between giving everyone who makes under $75,000 a check is twofold. Number one, it helps out those that have been affected by the pandemic. But also just as important, hopefully much of that money will get spent thereby helping businesses that have been affected as well.
My income if is from social security and a retirement portfolio. It really haven't been affected by the pandemic. But I will take my $600 and buy some things that I may not have bought without it.
Now I realize that not everyone will spend the money. Some will put into into their bank account or invest it, but I think that most people will spend it. Maybe a lot more people will go out to eat or order take out from a restaurant or buy a new pair of shoes that they might not have bought otherwise. Those purchases will help struggling businesses and the employees of those businesses.
I'm not normally a big fan of injecting money into the economy this way but I believe that it's good idea in an emergency such as this.