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New York (CNN Business)The most expensive provision in Joe Biden's $1.9 trillion economic recovery plan is his proposal to send an additional $1,400 to most Americans. According to many economists, that's the least effective way to help revive the economy.t
The problem with the direct payments, according to economists and others critical of the plan, is that much of the stimulus would go to individuals who have not been financially hurt by the Covid-19 pandemic. That means those added dollars may not do much to boost economic activity.
The money could be a lifeline for struggling taxpayers. But one of the biggest problems, according to economists, is many who receive the checks will either put the money into savings or use it to pay down debt, neither of which will do much to increase overall economic activity.
originally posted by: seeker1963
a reply to: RudeMarine
Pay attention to who swoops in and buys up all of those shut down businesses and homes that are being lost due to people jobless with no income thru no fault of their own but for the scamdemic.
originally posted by: dug88
a reply to: RudeMarine
$1400 is 70 hours of work at $20/h before taxes.
What the # is $1400 going to get people that've been forced out of work? That'll last people about a day as they catch up on bills and such. It's a joke.
If they want to stimulate the economy, let people go back to work. You can't rebound an economy with a $1400 payment, that's gotta be one of the dumbest things i've heard and i'm hardly an economist.
originally posted by: F2d5thCavv2
So that means the congress will have to invoke the 25th Amendment so that the ultimate exercise in virtual signaling may commence.
originally posted by: seeker1963
a reply to: RudeMarine
Pay attention to who swoops in and buys up all of those shut down businesses and homes that are being lost due to people jobless with no income thru no fault of their own but for the scamdemic.
How long are you all going to put up with being poor, soon to be standing in Government food lines waiting for your bread and cheese?
originally posted by: seeker1963
a reply to: RudeMarine
Pay attention to who swoops in and buys up all of those shut down businesses and homes that are being lost due to people jobless with no income thru no fault of their own but for the scamdemic.