Question of the Day: What percent of taxpayers are expected to receive a stimulus check?

|
Apr 19, 2020
|
Interactive, Behavioral Finance, Budgeting

Stimulus checks started showing up in bank accounts over the past week so I thought this was a relevant question.  Note that if the IRS doesn't have your bank account information, checks will be sent out later this month.

Answer: 83%

Questions:

  • How do you think that most Americans will spend these checks which are $1,200 for individual taxpayers and $2,400 for couples with an additional $500 for children under age of 17? 
  • The stimulus checks are NOT going to individuals and couples that have adjusted gross income above a certain amount. What do you think is the maximum amount that someone should earn and STILL receive a stimulus check? 
  • Do you think these payments will act as a stimulus for the economy? Why or why not? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Washington Post):

Roughly 125 million people will receive a check, or about 83 percent of tax filers, according to Kyle Pomerleau, a tax expert at the American Enterprise Institute.

------------------

Want to track your own stimulus check? The IRS launched a website to help you track your stimulus payment.

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.