Stimulus Check money has had a lot of positive impacts. These checks have provided much financial relief to the citizens of America. Most of the middle-class families seem to have made a lot of benefits. The policy of the stimulus checks was designed uniquely. It provides the maximum benefits to low-income families. However, the checks diminished in value as the income of the household got higher. This is the reason most of the low and moderate earners are very much satisfied. They have pocketed a chunk of payments in these months. Some families have received checks that were higher than their usual income.
Stimulus Checks Averages $2910 In The Year
As per the analysis of Pew Research, the middle-class definition has been provided. A household earning roughly between $53,266 & $159,800 can be considered as a middle class. These people have been the clear winners. The middle earners have pocketed an average of $3540 from stimulus payments. This money included several different checks.
$2910 was the average amount that people received from the checks. In addition to the above payment, people also pocketed the child and the income tax credits. These were valued at $620 & $10 respectively. The people earning between $111,300 & $ 247,400 is expected to receive $2830 on an average.
The checks have been deposited directly to the bank accounts of the qualified citizens. People also had the choice of opting for paper checks. The child tax credit was also a great initiative from the government.
People of the upper-middle bracket saw a significant decrease in the Stimulus Checks. The benefits of these families were significantly less than the others. However, considering their income capacities, they do not seem to be missing out on much. All in all, the Stimulus Checks have provided support to the ones who needed it the most.