The IRS has announced that they will now be sending out economic stimulus payments starting this Monday, April 28th. Initially, the first direct deposits were going to be sent on May 2nd, but the government can’t wait to stimulate the economy.Of course, I have no idea how sending everyone a one time check will actually stimulate the economy over an extended period of time. Maybe the underlying assumption is that recipients will go out and spend the money on goods and services that they dont need. But, I suspect that many people will use it to pay off credit card debts, payday loan[...]
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[Source: The Money Blogs]
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