Saturday, Aug. 1, 2020 | 2 a.m.
To those of you opposed to the extra $600 relief for the unemployed, let’s consider where that money goes after it’s received.
First, economists tell us that this money will be spent quickly to pay for rent, food, medicine and other necessities. This money goes to local businesses, who in turn pay their essential expenses, including employees, which means saving jobs, etc.
Thus, the equivalent of a $15-an-hour wage for employees puts that $600 in play on several levels. This is truly boosting a falling economy.
In contrast, the tax cut, which mainly benefited the rich, was spent buying back stock, paying executives more bonuses and placing money in savings of every type — none of which benefited the economy but instead took more money out of circulation.
So let your representatives know that you want more economic assistance for the unemployed to bring more money back to communities.