{"id":8398,"date":"2022-07-19T11:51:28","date_gmt":"2022-07-19T11:51:28","guid":{"rendered":"http:\/\/lonecandle.com\/?p=8398"},"modified":"2022-07-19T11:51:28","modified_gmt":"2022-07-19T11:51:28","slug":"california-fights-inflation-by-sending-people-free-money","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=8398","title":{"rendered":"California Fights Inflation by Sending People Free Money"},"content":{"rendered":"\n<p>\n\n&#8220;Every taxpayer earning less than $75,000, or joint-filers earning less than $150,000, will receive a $350 check, plus another $350 if they have children,&nbsp;<a href=\"https:\/\/www.cbsnews.com\/news\/stimulus-check-california-inflation-relief-payments-23-million-up-to-1050\/\" target=\"_blank\" rel=\"noreferrer noopener\">reports<\/a>&nbsp;CBS. A married couple with children would qualify for the maximum of $1,050. Higher-income people would receive smaller refunds.<\/p>\n\n\n\n<p>The checks are the most advertised portion of a budget deal totaling some $300 billion. They help dispense with a&nbsp;<a href=\"https:\/\/www.latimes.com\/california\/story\/2022-05-13\/california-budget-surplus-swells-to-97-billion-under-newsom-new-plan\" target=\"_blank\" rel=\"noreferrer noopener\">$97 billion<\/a>&nbsp;budget surplus buoyed by unexpectedly high tax returns from the highest-income Californians.<\/p>\n\n\n\n<p>It should almost go without saying that giving out individual stimulus checks is more likely to exacerbate inflation than cure it. The&nbsp;<a href=\"https:\/\/www.crfb.org\/blogs\/american-rescue-plan-could-set-stage-4-trillion-debt\" target=\"_blank\" rel=\"noreferrer noopener\">$1.9 trillion<\/a>&nbsp;American Rescue Plan, passed in March 2021, which included $1,400 stimulus checks, is estimated by one Federal Reserve Bank of San Francisco analysis to have raised inflation by 3 percentage points.&#8221;<\/p>\n\n\n\n<figure class=\"wp-block-embed-wordpress wp-block-embed is-type-wp-embed is-provider-reason-com\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"ozU1y3SMEl\"><a href=\"https:\/\/reason.com\/2022\/06\/28\/california-fights-inflation-by-sending-people-free-money\/\">California Fights Inflation by Sending People Free Money<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;California Fights Inflation by Sending People Free Money&#8221; &#8212; Reason.com\" src=\"https:\/\/reason.com\/2022\/06\/28\/california-fights-inflation-by-sending-people-free-money\/embed\/#?secret=GBD1n0xres#?secret=ozU1y3SMEl\" data-secret=\"ozU1y3SMEl\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Every taxpayer earning less than $75,000, or joint-filers earning less than $150,000, will receive a $350 check, plus another $350 if they have children, reports CBS. A married couple with children would qualify for the maximum of $1,050. Higher-income people would receive smaller refunds.<\/p>\n<p>The checks are the most advertised portion of a budget deal totaling some $300 billion. They help dispense with a $97 billion budget surplus buoyed by unexpectedly high tax returns from the highest-income Californians.<\/p>\n<p>It should almost go without saying that giving out individual stimulus checks is more likely to exacerbate inflation than cure it. The $1.9 trillion American Rescue Plan, passed in March 2021, which included $1,400 stimulus checks, is estimated by one Federal Reserve Bank of San Francisco analysis to have raised inflation by 3 percentage points.&#8221;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[304,1316,469,411,624],"class_list":["post-8398","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-california","tag-inflation","tag-money","tag-policy","tag-stimulus"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/8398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8398"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/8398\/revisions"}],"predecessor-version":[{"id":8399,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/8398\/revisions\/8399"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}