April 28, 2020


Americans are choosing to save, not spend, their stimulus checks (Dion Rabouin, 4/28/20, Axios)

What's happening: Despite nearly 20% saying they had been furloughed, laid off or otherwise separated from their job, the most popular answer among survey respondents was to sock their money away, with 38% saying they put it into savings.

Why it matters: Economists have worried that one major effect of the coronavirus pandemic could be that Americans become more conscious of their savings and cut back on spending.

An effect we can enhance with consumption taxes.

Posted by at April 28, 2020 12:00 AM


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