A prepaid debit card should arrive in the mail by December 31 for Californians with last names starting with L to Z who are entitled to the Middle-Class Tax Refund of the state but did not receive Golden State Stimulus funds.
This fall, the fund was approved to assist locals in containing skyrocketing inflation. Based on your income & filing status, the payments vary from $200 to $1,050. Up until mid-January, the stimulus will still be distributed gradually.
46 Cities & States Provide Payments For A Universal Basic Income
Individuals who qualify for UBI get a series of ongoing payments from the government. They may be compensated once a year, multiple times per year, or once every month.
Guaranteed income might be financed through public or private sources. Even though it’s unlikely that Congress would approve another stimulus plan, some states and communities provide their residents with guaranteed income or UBI payments. The Sun compiled more than 40 instances of UBI, including ones in Georgia, Alaska, and Arizona.
Residents Of San Diego Are Still Hoping For Stimulus
Residents who qualified for the Middle-Class Tax Refund were expected to get their stimulus cheques by November 14, as per the California Franchise Tax Board. 6.9 million residents in San Diego have not yet received their stimulus, CBS8 reported on Monday.
To qualify for the stimulus, an individual’s income must be sufficient to file taxes but not more than $250,000 annually or $500,000 for couples.
Whether Or Not Relief Payments Are Causing Inflation To Rise
According to The Lee Daily Register, several economists and financial professionals are concerned that inflation relief payouts will only serve to accelerate inflation.
According to senior scholar Beth Akers at the American Enterprise Institute, giving away cash during an inflationary environment will simply fuel more inflation.
*My god nearly 2/3 of people think that further stimulus checks will combat inflation – yet this is exactly what will make it worse (and how the 3x rounds of stimulus 2020-21 were what amplified the current inflationary wave)
This is terrifying and why ‘democracy’ isn’t ideal pic.twitter.com/JXuIdpGEfm
— Adem Tumerkan (@RadicalAdem) December 24, 2022
She also cautioned that once tax revenue growth starts to slow down, the checks could put numerous states across the country in the red the next year, reports Sun.
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