It’s no joke. Yet, the checks the federal government provides to help Americans get through the economic crisis created by the coronavirus pandemic are turning stimulus payments into a laughing matter. A quick search on Google, and one can see the raps, memes and songs dedicated to the “stimmy” and quips by social media personalities demanding “Gimme my stimmy” while adding how they will use it.
It’s officially called the Economic Impact Payment. So far, the Internal Revenue Service has deposited three payments into the bank accounts of nearly 70 million Americans who filed their 2018 or 2019 tax returns. The first payment of $600 sent to individuals — or $1200 for joint filers — was made available beginning in December of 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Additionally, families received $600 for each dependent child. In March, under the CARES Act, Congress approved an additional $1,200 for those earning up to $75,000 — $2,400 to couples earning up to $150,000 — along with an additional $500 for each dependent child.
Democrats in Congress want more. They are appealing to President Joe Biden to issue a fourth stimulus check on top of the Child Tax Credit Payments soon to be on their way to families that will receive $3,600 for children under six years of age and $3,000 to those with children between six and 17 years of age. The monthly installments of $300 will certainly help households with children impacted by the pandemic.
In the meantime, with the reopening of cities and states around the country, employers are struggling to find people willing to come back to work. More Americans are vaccinated, but the employment lines don’t reflect the need for jobs and income lost due to the pandemic.
Government leaders refuse to admit that their stimulus checks contribute to a negative employment rate. Meanwhile, too many Americans are not taking seriously the consequences of spending on things other than their mortgage, rent or other living necessities.
Very soon, the moratoriums will expire. So, those who found other ways to spend their money will be clamoring for more support. We urge everyone to realize that it won’t be funny when your “Stimmy” is gone, and the bill collectors say “gimme” what you owe me, or else.