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Joe Biden appeared last night with CNN host Anderson Cooper doing a "town hall."
Biden couldn’t resist proposing more taxpayer subsidies even when a questioner had just finished describing a problem created by taxpayer subsidies. Here’s an excerpt from CNN’s transcript in which a registered nurse named Sheila Schaufler was given a turn at the microphone:
Quote:
SCHAUFLER: Thank you. And Good evening and welcome back. There are many frontline workers who are making much less than people on unemployment, who have benefited from the extra $600.00 in stimulus payments. I have personally spoken to people who refuse to even look or apply for jobs because of the extra money. What is your plan to get Americans back to work and off the government payroll?
BIDEN: First of all, I have a plan to deal with the need for additional healthcare workers and pay them a wage that is a living wage that’s real. So they don’t have to live hand to mouth, for real. I won’t bore you with the detail, but -- I’ll get your name, we’ll send you the material...
Joe Biden's primary shortcoming is he has quite literally been on the public dole for 47 years. He's forgotten there is an economy beyond Washington DC.
Debate rages on from both sides; many employers and others claim generous UI benefits of past few months have acted as a deterrent to people going to work. Meanwhile economists and others support the view no, such benefits have not had any major effect on people wanting full time employment.
This arguing is likely one huge factor in republicans and democrats still miles apart on any new stimulus package.
It's impossible to say one way or the other. In the long run, the best way to get the economy going is to get the virus under control, rather than quibbling about whether people would rather not work (and possibly risk themselves or their loved ones in doing so).
There was a recent interview with Yide Qiao, the Secretary General of Shanghai Development Research Foundation, and he discussed how China handled the work stoppages and shutdowns during the pandemic. Unlike the U.S., China did not pay people to sit at home or give individuals “stimulus” money. Instead they gave the money to businesses who then found ways to keep healthy people doing useful work even if it was unrelated to their previous jobs.
This ain’t China.
Look at all the fraud cases propping up for the money business did get.
Businesses would keep as much as possible. Not spend on workers. In China they’d just need to shoot a couple of them and problem solved.
At those "bare survival" levels of income I fail to see how an income loss of $8400/yr would "incentivize" someone not to work.
That's because you didn't understand what you read and didn't understand what was happening.
State UI is typically 50% of income, capped at some point. So $400/wk working would mean $200/wk state UI (below all caps) plus $600/wk FPUC (no caps) = $800/wk. That person would be making double on UI than by working. If you were collecting $800/wk sitting at home, would you want to work fulltime if it cut your income in half?
But for those making higher incomes, let's say $80k, they still have a strong incentive to get back to work. That's about $1540/wk. Half of that would be $770 but most states cap at much less. Florida is just $275. A person there would be looking at a $760/wk drop in income. Even if uncapped that person would have a $180/wk drop.
You’re referring to the stimulus portion that was the $1,200 payouts. The thread is about the UI benefits covered under the stimulus, which was $600 per week of federal support on top of the state unemployment.
So if someone was making $400 a week working, they may have been paid $900 a month from the state and federal UI to not work.
And yes, it incentivized any rational person to not want to work.
You did not mention free multimillion dollars windfall to multimillion dollar corporations..
Payroll loan forgiveness? Who could really keep track, a lot of fraud.
Remember several Lamborghinis buying small business owners?
The $600 to people to stay home (so our healthcare could figure out the COVID disease and launch a proper response) - was not given for life.
I don't think it was an invitation not to work...
Some of those unemployed may never have their jobs back as 61% of restaurants which were shutdown in NYC for example- did not open- according to Yelp.
Low income employees did not use this money to put into savings- they spent it right there, maybe they bought laptops for their children doing a remote learning or god forbid -expensive steaks: it all went back to support our economy.
I know several people who lost their jobs- and they are not coming back to them.
Some are older- who is going to hire them? They can't retire yet...Their lives are upended, their family finances are devastated without any signs of a possibility of recovery..
It is not good for our country when a high taxes paying citizen becomes a financial ruin/bankrupt/possibly a public burden
First of all, it was $600 a WEEK (Plus whatever their individuals state was), not per month. Your $900 per month calculation for $10,800 per year doesn’t even make sense. It was in excess of $900 per WEEK in my state for example (fed+state). So that’s $3,600 a month versus their normal $1,600. How would that NOT incentivize someone not to work? Note that I’m also saying that wasn’t wrong in this crisis, because the governments intent was to get people to not work and help shutdown the spread of the virus. Apparently I misspoke in my original post and said per month when I knew it was per week.
Second of all, you would compare the time they would make the unemployment at those heightened levels to what they would have normally made during that time frame.
In Fl - maximum unemployment benefit is $275 for 12 weeks only.
You could be making 6 figures, let go- you only can get $275 for 12 weeks.
Some still trying to get it due to the state government screw ups.
$600 per week were immediately spent to support banks- mortgages, auto industry- car payments, telecommunications- cellphones, grocery stores- food and so on.
That was a life line to people and businesses=direct infusion into economy
A lot of people like to work, to have self respect, career: money is not the only motivation.
If covid proved anything, it's that people don't like sitting around for more than a month or so. Most people want to live life, not sit around doing nothing, regardless of how much money they've got.
I want to switch to a 1k a month UBI bumped to $2k for the duration of the pandemic, and do away with unemployment.
Last edited by redguard57; 09-19-2020 at 09:18 AM..
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