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re: Will the rich unemployment benefit in the stimulus bill delay economic recovery??
Posted on 3/29/20 at 3:12 pm to Taxing Authority
Posted on 3/29/20 at 3:12 pm to Taxing Authority
Add Kennedy Center musicians to the Unemployment Lines. They were furloughed within days of the signing of the $25 million payoff.
Posted on 3/29/20 at 3:13 pm to I B Freeman
Horrible unless of course you are trying to save the businesses and their customers (us) who make up the American economy. There is pretty much a consensus among the responsible experts and pols that it needed to be done. But I guess we could ignore all that and take the opinion of a crackpot on an internet board. Your hero's on the left wanted and got their way to expand unemployment to the extent it was expanded.
Posted on 3/29/20 at 3:16 pm to I B Freeman
There's no doubt about it, it'll be no shortage of slackers living only in the moment and doing backstrokes in their newly obtained pile of free money. However it just dawns on me that this category of folks will likely be of a certain description, or thereabouts....no kids to worry about and no serious debt to speak of. I feel like that group is probably markedly smaller in comparison to the group that does have those and other ongoing financial stresses.
Posted on 3/29/20 at 3:23 pm to SSpaniel
"So...if you draw SS & still work..." Yep.And as noted La. is one of only 4 states that takes that reduction.With that low of a weekly rate, that reduction usually results in zero State benefits being paid out. I can not address employers not having to pay unemployment taxes or not, but I do know when I do officially retire, my SS benefits will go up by the additional money I have earned & "put" into the system. And the meaning of the word "stimulus" does explain this additional Fed benefit perfecrly.
Posted on 3/29/20 at 3:28 pm to jimdog
quote:
Horrible unless of course you are trying to save the businesses
What is it about having to compete with the government for labor is good for businesses?
quote:
Your hero's on the left
Do you see how stupid that statement is??
You are calling a poster among the most diligent posters advocating for small government and individual liberty a leftist while you advocate for a massive expansion of government.
Posted on 3/29/20 at 3:30 pm to davyjones
quote:
There's no doubt about it, it'll be no shortage of slackers living only in the moment and doing backstrokes in their newly obtained pile of free money.
More than you think.
Everybody in Katrina impacted Louisiana will tell you that had we had to depend on local labor sitting at home drawing to rebuild we would still have blue tarps everywhere.
Posted on 3/29/20 at 3:34 pm to Keltic Tiger
quote:
Yep.And as noted La. is one of only 4 states that takes that reduction.With that low of a weekly rate, that reduction usually results in zero State benefits being paid out. I can not address employers not having to pay unemployment taxes or not, but I do know when I do officially retire, my SS benefits will go up by the additional money I have earned & "put" into the system.
IB, can you shed some light on the bolded part? Just doesn't seem right that the state would reduce benefit while at the same time collecting the UE Insurance on those same earnings.
Posted on 3/29/20 at 3:41 pm to I B Freeman
"A massive expansion of government"...in a historical period of time never experienced before. How would you solve the country's problems?
Posted on 3/29/20 at 3:55 pm to Keltic Tiger
quote:
How would you solve the country's problems?
Why, relaxing all tariffs and buying more from China, of course.
Posted on 3/29/20 at 4:01 pm to Keltic Tiger
quote:
How would you solve the country's problems?
quote:
.in a historical period of time never experienced befor
I would not change the rules for sun screen manufacturers.
I would not make staying home more lucrative than working.
I would not worry about the Kennedy Center.
I would concentrate on areas where the out breaks are most concentrated--down to to the neighborhood.
I would relax FDA regs on drugs and devices.
I would deploy the National Guard or similar labor to airports and gathering places to check fevers so that people sick with whatever illness are not mixing among us.
I would offer a billion dollar prize to the first company that deployed 500,000 quick testing devices similar to the device Abbot just started making.
I would cut spending on defense and other government functions to pay for most of this.
I would give tax CREDITS dollar for dollar to replace any loses they have including wages to people they would otherwise layoff. This would be a huge incentive to keep going on once the limits are lifted. It would also give the businesses a vehicle to use to demonstrate to banks and vendors their viability going forward. Neither banks or suppliers want to cut off these businesses. The credits could be transferable so they will have cash value as soon as they are earned.
This post was edited on 3/29/20 at 4:07 pm
Posted on 3/29/20 at 4:05 pm to SSpaniel
I damn sure would not put a 5 time failed democrat politician with a lackluster academic career and no actual manufacturing experience like Peter Navarro in charge of "Defense Act Production Coordinator".
Sounds like some position in the former Soviet Union.
Sounds like some position in the former Soviet Union.
This post was edited on 3/29/20 at 4:06 pm
Posted on 3/29/20 at 4:05 pm to ynlvr
quote:
Well, for many recipients it will not provide incentive to return to work until used up
Joke's on them if they abuse the boost in unemployment compensation. They'll end up having to scramble to find a job 4 months from now and will have to settle for the first offer.
The smart people will start looking as soon as the shelter in place orders are lifted and will be able to be more picky.
Posted on 3/29/20 at 4:08 pm to Bestbank Tiger
quote:
The smart people will start looking as soon as the shelter in place orders are lifted and will be able to be more picky.
Yes the smart ones will.
Posted on 3/29/20 at 4:10 pm to I B Freeman
quote:
lackluster academic career
What does this even mean?
Posted on 3/29/20 at 4:15 pm to I B Freeman
Getting more in unemployment benefits than the underlying salary is NEVER a good idea.
Posted on 3/29/20 at 4:18 pm to SSpaniel
It means he was in academia as a professor and his career was of no particular distinction.
Posted on 3/29/20 at 4:20 pm to I B Freeman
I share the concern- but I think propping up consumer demand (by keeping everyone’s money coming in) is a lot more critical than the labor shortage it may create as far as stabilizing the economy goes
Posted on 3/29/20 at 4:21 pm to I B Freeman
quote:
he was in academia as a professor and his career was of no particular distinction.
And this is important because? And by that I mean... who gives a crap?
Posted on 3/29/20 at 4:23 pm to I B Freeman
I'll sympathize with your concerns, but I think maybe at the margins this will happen but the recovery will not be a truly symmetrical V
Posted on 3/29/20 at 4:27 pm to SSpaniel
Who gives a crap that an ill experienced person has the power to deploy the Defense Production Act???
Well I would hope we all would.
Well I would hope we all would.
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