I don't really know what to make of this but recent studies indicate that consumer spending may actually have increased to record high levels in May, probably due to stimulus checks. So enough people are actually spending money to reflect relatively high consumer spending in May - whether you adjust for inflation or not.
Has this helped your business? Are you seeing temporary profits or better profits? Has this helped you personally when it comes to saving money? We plan to put a part of our check into (don't laugh, please) canned food. Yep, we think prices will rise fast enough to equal stock returns and we'll just save on our groceries.
Here is just one article about that, about how stimulus checks affected consumer spending in Savannah: <br> <a href="http://www.wtoctv.com/Global/story.asp?S=8568687&nav=0qq6DP1V">Savannah gets economic boost</a>
Spending those checks, of course, is not saving or investing them. So I have to wonder.....if you are saving your checks or spending them, using them to pay off bills, etc?
If you haven't got your check yet and I'm allowed to leave links to this info, here is some related info for those who have not as well as those who may not know they have unexpected time to file those taxes without penalty (select groups of people). I can't copy the articles here, word for word, but I can provide links:
<br> <a href="http://www.associatedcontent.com/article/848347/top_reasons_your_stimulus_check_may.html">Top Reasons Your Stimulus Check May Not Have Arrived yet and Breaking Updates</a>
<br> <a href="http://www.associatedcontent.com/article/848471/think_its_too_late_to_file_taxes_avoid.html">Think it's Too Late to File Taxes, Avoid a Penalty and Get Your Stimulus Check? Think Again</a>
In the meantime, do you thnk it is a good thing that people are spending those checks? Is a temporary boost to the economy a way to truly stave off or keep a recession from deepening? I'd really like to know. I'm just another confused consumer, trying to figure my way through the economic jungle.
And thanks, Ms Meacham, for suggesting I submit this to your particular group :)
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Comments: 28
I forwarded your email about you not being able to log in to the gather staff. Hope it helps
It isn't a temporary bandaid when you think about it. Jo, did any of those articles say what the total amount of money paid back into society amounted to?
You all are thinking that they gave the money out and it is already spent. But that's not the way things work. There are about 350,000,000 people in America. Take ??? maybe 300,000,000 x 300$ (the minimum) (I got 500+) and see how much we begin with. Once we have all spent the money ... the people we purchased our products from NOW have the money. They are now richer and spend the money again. NOW a third person is spending each of those dollars returned. NOW a 4th person is now spending each of those dollars. NOW a 5th person is spending each of those dollars. Of course I could go on forever :):)
Also, remember that every time those dollars are spent, the governmen is receiving back GOBS of tax money. This boone can go on forever.
That is why tax breaks help our economy. All this money is makeing demands for more products. The demand for more products means more jobs. MORE money going into government in earnings tax plus the additional salaries are also being spent on products which continues to stimulate the economy.
This was a very smart move. The next time you hear a discussion on making the tax breaks permanent, please remember this discussion. Somewhere along the line their is a balance on the perfect amount of taxes paid ... but so far the tax breaks are really paying off financially.