The coronavirus pandemic has hurt much of the population before even infecting them. This has become a trying time for many who live paycheck-to-paycheck, congress and the Trump administration have tried to answer their call. The massive bill that passed through congress included many different stimuli for the economy. One of the most important benefits to the average american is the $1,200 payment for those affected by the virus. To detail more about the package, and how to land this payment for yourself, we will analyze a video by Graham Stephan.
Why This Guy Again?
Well, he put out one of the first and most inclusive explanations of the bill. He explains this better than I could, and most of the info I have found, he has as well. He has done a great job making an apolitical, comprehensive, and entertaining video on the subject. It goes far beyond the payment details, and I think people should know about the whole bill. So, to eliminate too much redundancy, and ensure you are fully informed, we will be listening to him discuss how this will work:
In Summary
As you can see, this bill is much more than just a $1,200 payment. It really does it’s best to support all affected areas of the economy. Now, is it the best move in the long run? Only time will tell. Some say the spending is wildly out of control, and they have a decent point. $2 trillion is a historical price point, and supporters of the bill argue it mirrors the historical pandemic we are experiencing. As Graham mentions, the $900 billion stimulus in 2009 wasn’t absolutely catastrophic (on the surface). Despite this, there is a lot of room for skepticism here. The focal point for me, though, is that if we are all going to pay for it eventually anyway, you may as well take advantage now if you need it. Don’t let your politics bankrupt you, and remember this train keeps rolling with or without you on it. Advocate for what you believe, but remember to keep food on your table in the process. Take care!
Trey LaRocca is a freelance writer, financial sales worker, and tech guy. When he isn’t out and about or at work, he’s usually at home enjoying some video games and a beer. Currently residing in Newport Beach, this California Kid can be found at the beach on any given weekend. Trey has years of experience in day/swing trading, financial analytics, and sales.