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Retiree bonuses for quick stimulus

TEXT OF STORY

Bill Radke: Starting today, the Social Security Administration will be adding a little something extra to the checks it sends out. As Marketplace's Steve Henn reports, it's all part of the government stimulus plan passed last winter.


Steve Henn: This month, 50 million retirees will get a one-time $250 bonus in their government check. If you are married, you can expect $500. And it doesn't matter how much you make. Even Warren Buffet will get this tax-fee perk, too. Retired government workers who don't receive Social Security will get a one-time $250 tax credit instead.

It's all part of the stimulus plan that passed last February. The Social Security Administration says these checks will inject $13 billion into the economy quickly.

Economists say retirees living on fixed incomes are likely spend the extra money quickly, and provide a shot in the arm for the economy.

In Washington I'm Steve Henn for Marketplace.

About the author

Steve Henn was Marketplace’s technology and innovation reporter for the entire portfolio of Marketplace programs until December 2011.
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On Jan 31 2008 I was forced into early retirement due to Federal government downsizing, and have not reached the age for social security. How does the stimulus economic plan help me?

I'm one of the many retirees who have not reached the age of social security. My income is fixed each month and I was basically forced to retire. Why do government workers who do not receive social security get a tax credit and no one else? I think this is discrimination. All retirees should get the same amount from the government.

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