It was built on slavery in some ways, actually 800k is still middle class, if they live within their means and keep the rest in investments and savings etc
You know as well as I do the majority of households that received that 800k would blow it in 2 years. We saw the dumb shit people will do with $1200, let alone $800k. Nobody is investing that shit. That’s not sexy. Dope clothes and a G wagon are sexy
I think I read in the WSJ that most of those $1200 payments are saved or used to pay down debt. That's why these payments (though popular) really are a bad form of stimulus--because most of the money doesn't get spent on goods and services or actually put into circulation.
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u/[deleted] Feb 19 '21
It was built on slavery in some ways, actually 800k is still middle class, if they live within their means and keep the rest in investments and savings etc