A shock headline, but that’s what news media outlets seem to be doing these days.
Businesses are starting to send out ads urging people to spend their stimulus money on that business’s wares.
These businesses are clearly not targeting the poor with their ads, but that percentage of the middle class and above who are getting the stimulus check even though they don’t need it. (i.e. everyone who is still working, whether remotely or otherwise).
But there’s this big uproar against these businesses, that are obviously just trying to stave off bankruptcy, that they’re trying to make poor people forget about buying food for their families and paying off debt, but instead buying luxuries.
Are these news media reports demonizing struggling businesses, or are they right to be outraged?
1st -I was against this kind of check from the start for this very reason. Thank God Shumer got the unemployment part in there ($600 extra a week for unemployed). THAT is what we need.
Sending $1200 to everyone who made under a $$ amount was dumb. This isnt 2008, where the issue was money was tight so people stopped spending.
60%+ of Americans are making the same amount of money today that they were in January. Why are we sending them $1200??/
Stimulus-focused ad campaigns are tacky and target the irresponsible.
My firm just laid out projections and impact (lower bonuses, hiring freeze, but no lay-offs). So we have people now with lower expenses and higher confidence. Good time to buy a tractor or a new office chair, assuming a 9ish month emergency fund.
For people with reserves and confidence in their positions, it’s a kindness to spend. The guy who builds hot tubs is just as good a guy as the one who milks cows.
You should listen to the 4/1 Freakonomics podcast - you’ll hear your argument made and also the push/pull of speed of delivery versus efficient targeting.
On Wednesday, Spell urged Americans to donate their coronavirus stimulus checks to American evangelists including himself, posting a video to YouTube asking for the money and attempting to popularize the hashtag #PastorSpellStimulusChallenge.
“I’m donating my entire stimulus, $1,200,” Spell said. “My wife is donating her stimulus, $1,200. My son is donating his stimulus, $600.”
