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60% Of American Population in Favor of More Paychecks

60% Of American Population in Favor of More Paychecks
When the pandemic’s lockdowns and supply chain interruptions made a nasty dent in the American economy, Congress went to work passing a series of relief plans, including stimulus checks that put money directly back into Americans’ bank accounts. (Photo: Yahoo Finance)

About 60% Of American Citizens Voted for More Checks.

When the Pandemic and supply chain interruptions hit, it made America’s economy on edge, Congress went to work passing tons of relief schemes, this includes stimulus paychecks that will give money directly into the American citizens’ bank accounts.

Stimulus paychecks with an amount of up to $1,200 to qualified adults rolled out in April 2020, and secondary paychecks with an amount of up to $600 rolled out between December 2020 and January 2021.

According to a published post by Yahoo Finance, President Joe Biden then passed the American Rescue Plan, giving another $1,400 amount of paychecks. The most concerned about cash were the Gen Xers (45-54 age bracket), of whom about 28% said living from money to money.

However, the ones behind them were the young millennials with a 25% count aged from the 25-34 age bracket, last were the Gen Z adults with a 24% count aged from the 18-24 age bracket.

60% Of American Population in Favor of More Paychecks

When the pandemic’s lockdowns and supply chain interruptions made a nasty dent in the American economy, Congress went to work passing a series of relief plans, including stimulus checks that put money directly back into Americans’ bank accounts. (Photo: Yahoo Finance)

WHY ARE SOME AMERICANS AGAINST OF THE PAYCHECKS?

It is difficult to speculate, specifically why some residents would be against money difficulty free, however, it may have less to do with their private expenses and come instead from a more economical perspective: that big amount of cash infused into the economy leads to inflation down the line.

We can see how high inflation has become lately, possibly these citizens may feel that they were right in their concerns, In addition to this, stimulus checks tend to gain low-income residents more than any other economic organization, so those who are not in the category might not have any concerns with having money received from the government.

 

READ ALSO: Didn’t Get Your $300 Child Tax Credit This Month? Here’s How You Can Retrieve Any Missed Paychecks!