Worldwide economic recession is happening and it is hurting a lot of businesses because of cost-cutting. In the United States of America, there have been talks about giving out stimulus checks to help the economy. Many people are wondering if there be a stimulus check in 2012?
Stimulus check definition
According to experts a stimulus check is defined as a check that the U.S government gives to its taxpayers so that the consumers will spend the money in order to help generate sales and income in businesses like retailers, manufacturers, real estate and the like. The amount on the check depends on the income tax return filed by taxpayers. Accordingly, those who are joint taxpayers will receive twice as much as other taxpayers will receive in their stimulus check.
Why is the government doing this?
America had been hit hard by recession in 2008 and a lot people lost their jobs and businesses closed down because of poor income. The economy was on a downward slope so a lot of people tended to avoid spending and only buy what they needed and not what they want. Certain business sectors and even real estate crashed And the solution is to give out stimulus checks to the taxpayers to stimulate the economy.
Why does the government see this as one of the solutions?
By giving money away money, they will have more opportunity to spend and in return, it will stimulate economic growth. This is one of the attempts to help fix recession and the increasing unemployment rate. But a point of concern is raised if the government spends too much and increase the debt load which will also bring a negative effect on the economy.
Stimulus check look-back
In 2008, stimulus checks have been given in order to help the economy in the midst of the crisis. About 120 million households were given up to $600 per person. Then in 2009, about $250 stimulus checks were sent out to select groups. During that year, the stimulus check was given to each person receiving Social Security and SSI because of the very low inflation that year.
In 2010 and 2011, there was a proposed stimulus check of about $250 million that was intended to be given in the first quarter or 2010, but it never happened.
Who can get the stimulus check?
According to reports, in 2010 and 2011, there are selected groups that are intended to be given a stimulus check. This includes people who receive Social Security or SSI.
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{ 9 comments… read them below or add one }
It is my understanding that people on Social Security in the State of Iowa
will be receiving a “Stimulus ” check on 2012.
Why not our State of Texas? For that matter, what about ALL the States?
Hope you can answer these questions for us.
Thank you,
I would like to know when we will be getting the checks
and also are the checks going to sent to us or do we
have to sign up for them if we are already on
SSI?
puerto rico seniors are receiving $400 stimulis checks why not other states
I received an email today that looked like it came from the IRS. It says I am eligible for a $284 stimulus check and it provides a link to access the form to request it. Being leery about such emails, I checked the link and it wants me to provide my social security number and other information. I figure if I am entitled to one, the government has my information from my tax return and will use that to forward any additional refunds, right?
Does anyone know if this is legit? This article says people of Social Security will receive one and I am on SS.
Thank you.
NEVER EVER GIVE OUT ANY IMPORTANT INFORMATION TO ANYONE IN AN EMAIL NEVER!!!
so will people in ct and on ssi will they get it and if so when and how much im jus wondering thank you…
Very hopeful for the people on SSI that are in need of this “stimulus package” …but what about other people. I am not on SSI and I am working 2 part time jobs, trying to get myself ahead. I have enough time to carry myself to bed each night and start over again the next day. I don’t have fancy things, take spring breaks, own my own house… What about the hard working people that are low-middle class? By no means am I “dissing” anyone on SSI, I’m just asking, what about other people too??? I can assure my stimulus check would be reinvested, I need new clothes, to get my car fixed, pay my rent…
I have been reading information about social security stimulus check for $250.00 for 2012. Will the state of New Jersey be included in this stimuluscheck? iI am collecting ss for 4 years and this check will help so many people who just about pay their rent and food. I pray for the healthand well being of our wonderful country. I lived in England for 4.5 years while my husband was in air force. I and my husband were proud to be an american duringVietnamEra and in Europe after Vietnam. We loved being in England but there is nothing like our wonderful country USA .
to whom it may concern why cant a bill be passed for social security people to recieve a stimoulis rebate in 2012 times are really hard here in america and we could sure use the 250 one time rebate so please congress consider to passing the bill we deseve to be able to surivor to in theses hard times and struggles