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Find out which one confersbetter benefits over the long haul.
What Is a Stimulus Check?
What Is a Tax Cut?
Tax cuts also must be passed as part of a bill by Congress.
Stimulus checks give instantaneous relief, while tax cuts provide long-term and incremental relief, Connor pointed out.
Both can have a tremendous impact on consumer spending and the economy.
The Downsides
There are some downsides to both, however, Scott explained.
On the other hand, the biggest risk with stimulus payments is that theyre temporary.
Once the money is spent, people are usually left without a long-term financial backup.
Both solutions have their place but should not be seen as long-term solutions.
Which Is Ultimately Better for the Middle Class?
Scott falls on the side of tax cuts over stimulus checks as being more effective for building financial stability.
They can be used in monthly budgeting and investment strategies for an extended time.
Connor agreed, adding, Tax cuts are mostly better when looking at long-term financial stability.
They just dont offer the sustained benefit that tax cuts can provide, Connor said.
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