What to do with the stimulus check

[rlvaughn]

I just read the President Biden has signed the latest "covid" stimulus bill, and that at least some Americans will be getting a $1400 stimulus check.

I know a lot of people are excited about the "free money." I have several problems with the whole concept -- not just under Biden but under Trump as well. For example,

• The government doesn't actually have that money to give away in the first place.
• The vast majority of the money does not go to the bill's ostensible purpose.
• To some extent it is a government redistribution of wealth.
• The government is not capable of managing something like this properly.

By the last point I mean, for example, them giving the same amount of money to all within certain income groups, regardless of whether one was not at all financially damaged by the Covid pandemic, or whether one was completely wiped out by it.

So, what should one do with the stimulus check? What are you doing? I am not aware of any easy way to reject or send back the money. Perhaps you know of a way? I have simply kept what I have received previously, wondering what the best stewardship might be. (Is sending it back even good stewardship anyway, since the government might just waste it on something else?) So my primary thoughts of best use are to give it to someone who was financially injured by the Covid pandemic, or to give it to a church or charity. Something else?

What are your thoughts?

 

[JonC]

If we, as a nation, were fiscally responsible then I would also have an issue with the handout.

But given the amount of money we send overseas, I am of the mind I might as well get some of what I paid in back.

Since fiscal decisions hinge on getting votes rather than the welfare of our nation I really do not care. Money misspent may as well be money misspent on and by me.

 

[kathleenmariekg]

The government's professed primary goal is to make money circulate in the theory that any money spent leads to more money spent and prevents a depression? Expanded food stamp handouts are considered a total success working from the bottom up to stimulate the entire economy?

Carefully timed handouts distract people from action? This has never been a professed goal, but what I believe is the primary goal.

Yes, this money is not the government's. It is created by methods that will result in inflation? And will result in redistribution of wealth? Everyone will lose this amount of money and more through inflation? To take and use this money will reduce the personal effects of the coming inflation?

I worried at first that I did not "deserve" the first check. By the time I received mine, I had been denied money that I was "entitled" to. It just evened out the losses, and I took the check with no quilt. I am still suffering loss of several benefits that I am "entitled" to. Instead of fighting for what is "mine", I am surviving and waiting to see what comes next.

I trust God to send me what he wants to be in my pocket and what he trusts me to use and what he trusts me to give. I accepted the wagon that Benjamin gifted me. And I have been strengthened by the wagon and extra food stamps enough to pay forward the gifts over and over and over. When I am dragging home my water and groceries, and pass dehydrated and exhausted homeless people sprawled on the sidewalk, I can reach into my wagon and share what I have, water always being the most appreciated item.

At times of my life, I have self-neglected for multiple reasons. All forms of neglect are wrong, including and maybe especially self-neglect. God values us differently than our siblings. We need to be careful to take what we need to sustain ourselves at the level needed to accomplish our purpose. We are sinning if we keep ourselves too resource-less to do his will. Without the wagon and "extra" food stamps, I cannot give away water.

I think it might even be illegal for me to give away water purchased with food stamps. Sigh. The Bible says to follow the laws until they conflict with the laws of God. Walking past a person on the sidewalk with cracked lips and open festering sores that is out of their head with metal illness or fever or dehydration or all three without offering water is against the laws of God.

Some of us must maneuver differently now. This is a new world.

 

[Reformed]

I just read the President Biden has signed the latest "covid" stimulus bill, and that at least some Americans will be getting a $1400 stimulus check.

I know a lot of people are excited about the "free money." I have several problems with the whole concept -- not just under Biden but under Trump as well. For example,

• The government doesn't actually have that money to give away in the first place.
• The vast majority of the money does not go to the bill's ostensible purpose.
• To some extent it is a government redistribution of wealth.
• The government is not capable of managing something like this properly.

By the last point I mean, for example, them giving the same amount of money to all within certain income groups, regardless of whether one was not at all financially damaged by the Covid pandemic, or whether one was completely wiped out by it.

So, what should one do with the stimulus check? What are you doing? I am not aware of any easy way to reject or send back the money. Perhaps you know of a way? I have simply kept what I have received previously, wondering what the best stewardship might be. (Is sending it back even good stewardship anyway, since the government might just waste it on something else?) So my primary thoughts of best use are to give it to someone who was financially injured by the Covid pandemic, or to give it to a church or charity. Something else?

What are your thoughts?

The Bureau of Fiscal Service accepts donations for reducing the national debt. You cannot refuse the stimulus check, but you can send your own check for the amount of the stimulus back to the federal government.

It is important for people to understand that stimulus money is borrowed. It is a loan from the Treasury. Even if you send it back you will not be exempt from the tax increases that will be a result of this experiment in Socialism. If taxes are only increased on top wage earners there will be negative consequences for everyone. When top wage earners are taxed at a higher rate they pull their money back from the economy. Large businesses do this by parking their cash reserves overseas. High net worth individuals do this by pulling back on investments and small business expansion. This has a negative trickle down effect on the economy.

 

[timtofly]

Pay off debt to incur more debt!

 

[Salty]

I'm surprised that no one has stated giving at least part to your local church.

I agree with the basic thoughts that the govt is borrowing money to send to us.
Sure, you can send it back. But the theory is that by giving people money - it will be spent locally to help the economy. That is you go downtown you purchase a few items at a local store - you eat out at Ma & Pas restaurant - thus they make some extra money- and they are now able to hire a new employee -- who now is able to afford those extras, who in turn..... In addition, with the owner making more money and new employees having an income - will now be paying taxes. That actuality was the thought behind the GI bill for education back after WWII. Sure - it help people who lives were interrupt by the War - buy the govt knew (the vast majority) the vets were go getting - and by allowing them to recive a college education - they income would greatly increase and thus pay more in taxes.
Yes, I will accept the cash - and will spend it. on some needs as well as a few wants.
But I will try to buy locally as much as possible.

For those of you - who just feel you must return it to the govt:

Government - Frequently Asked Questions about the Public Debt

 

[kyredneck]

I believe it my duty to stimulate the economy with it, as intended.

 

[rlvaughn]

...this experiment in Socialism...

Another good point to add to what is wrong with the whole idea.