[karostay]

I'm not giving it back donating it charity We don't deserve this stimulus payment...What loss have we endured just freedom to socialize were retired on fixed income for the most part
Due to social and travel restrictions our monthly expenses have dropped by 1/3 . YA i hate what's going on but Others need this stimulus far more than retirees here in the bubble

[OrangeBlossomBaby]

Originally Posted by karostay

I'm not giving it back donating it charity We don't deserve this stimulus payment...What loss have we endured just freedom to socialize were retired on fixed income for the most part
Due to social and travel restrictions our monthly expenses have dropped by 1/3 . YA i hate what's going on but Others need this stimulus far more than retirees here in the bubble

That's pretty much the point. If you don't NEED it - then SPEND it. That's why you have it. So you can spend it. Spending it means someone is getting paid, by you, for whatever. It's getting people working. It's providing someone with a much-needed paycheck. Spend it on something you have been putting off because of the pandemic. Get your nails done. Pick up some curb-side dinner at a restaurant that you haven't been to in awhile. Hire a guy to pressure-wash your house.

If you do need it - use it!

Just don't bank it. Banking it defeats the purpose of having it in the first place.

[OrangeBlossomBaby]

Originally Posted by Bay Kid

The dollar is getting so watered down it isn't worth much.

That's such a strange thing to say.

I can still get a cheeseburger for a buck at McDonald's. It's worth the exact same cheeseburger now as it was worth last year.

My club dues are the same as they were last year too. The value of the club hasn't changed one bit - and therefore the value of the cost of the dues has also not changed one bit.

My stock dividend has gone up around 20 cents, but that's only because my stock had the last dividend buy more stock, so the whole package is worth a few cents more. I'd call that a wash. The overall value per share is pretty much steady for the past year.

My husband's pension check is exactly what it was a year ago, and we can buy exactly the same groceries with it as we could last year. Our utility bill went up somewhat. But our useage has gone down, netting in an increase that I can pay out of the change stuck under the seat of my car.

Originally Posted by OrangeBlossomBaby

It's assume that if you don't "need" the money you'll spend it. Crazy as it may sound, spending money stimulates the economy. Go figure, who knew!
.

Not crazy at all. It’s a geometric progression with the marginal propensity to consume, MPC. Even if you save the stimulus and put it in the bank, the bank will lend it to someone who will spend it based on the banks reserve requirements.
The sum of that geometric series, K is the multiplier K = 1/(1 - MPC) The actual formula is similar but more complicated as the MPC differs between people.

In words if the MPC is .9 then the first person spends .9 x $600=$540 which becomes income to that second person who spends .9 x $540=$486 and so on. Then the extra Gross Domestic Product GDP=$540 + $486+......

[OrangeBlossomBaby]

Originally Posted by John41

Not crazy at all. It’s a geometric progression with the marginal propensity to consume, MPC. Even if you save the stimulus and put it in the bank, the bank will lend it to someone who will spend it based on the banks reserve requirements.
The sum of that geometric series, K is the multiplier K = 1/(1 - MPC) The actual formula is similar but more complicated as the MPC differs between people.

In words if the MPC is .9 then the first person spends .9 x $600=$540 which becomes income to that second person who spends .9 x $540=$486 and so on. Then the extra Gross Domestic Product GDP=$540 + $486+......

I was being facetious. I didn't know the actual formula but yeah I knew that spending = stimulating the economy.

[bilcon]

I don't understand why retirees are getting stimulus checks. If you are working and lost a job, fine. If you are retired and getting your benefits, why are you getting checks from the government. You weren't affected by Covid-19. This is why our country will be in the toilet by the end of the year.

[Bay Kid]

Originally Posted by bilcon

I don't understand why retirees are getting stimulus checks. If you are working and lost a job, fine. If you are retired and getting your benefits, why are you getting checks from the government. You weren't affected by Covid-19. This is why our country will be in the toilet by the end of the year.

Why are prisoners getting a check?

[karostay]

Originally Posted by bilcon

I don't understand why retirees are getting stimulus checks. If you are working and lost a job, fine. If you are retired and getting your benefits, why are you getting checks from the government. You weren't affected by Covid-19. This is why our country will be in the toilet by the end of the year.

When that event occurs it's to stimulate the use of 100's rolls of toilet paper everyone has in the hall closets

[New Englander]

Originally Posted by Bay Kid

Why are prisoners getting a check?

To buy snacks at the commissary.

[karostay]

Their human many not all have had jobs paid some taxes in the past So why don't they deserve it probably need it more than most. I also believe while they are incarcerate it should go to their family if applicable

[Joe V.]

Originally Posted by bilcon

I don't understand why retirees are getting stimulus checks. If you are working and lost a job, fine. If you are retired and getting your benefits, why are you getting checks from the government. You weren't affected by Covid-19. This is why our country will be in the toilet by the end of the year.

Why shouldn't they? They are paying Federal taxes on their social security and pension checks.

[Dgizzi]

I didn’t get mine but that is because I changed banks before knowing we were getting another check. Hopefully like they said we can claim it on our taxes