Tony:
1. Inheritance. Lots of older people dying and HUGE amounts of wealth being passed on to middle age guys. People my mom's age (she is 92) have lived frugally since the depression. I had some clients (H & W) that died fairly recently that were still living in a 900 square foot rock house out in the boonies. They were worth $12.1M.
2. I realize some will disagree, but I believe that MANY small businesses applied for PPP loans that were forgiven, AND received very favorable tax breaks in the process. Freed up a lot of cash. While the $1200 check doesn't allow Bubba to spend stupid money on a car, Bubba's small business employer may have benefited way more than that. Just one example of some windfalls that were unintentionally created with the hand outs.
The way my business is set up (and a lot of others) I COULD have applied for a loan and made a big windfall. I did not because the pandemic really did not affect me that much.
Just the first round at $2.3 Trillion comes out to about $7,000 per person in the Country. If Joe Sixpack (and many others) only got $1200, that's a lot of unaccounted for scratch.
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