A number of years ago, we first introduced the topic of a 'welfare cliff' at which more work was punished - i.e. the 'generosity' of the package of welfare benefits creates a perverse incentive not to work any harder...
As we wrote at the time, one of the tragedies of America today is that so many adults of sound mind and body do not support themselves and their families. It’s a tragedy not because they suffer material want; indeed, relatively few suffer so, because government assistance satisfies many of their material needs.
It’s tragic because one of the keys to human happiness is earned self-respect, which requires, as Charles Murray has written, making one’s own way in the world. The vast majority of poor people don’t want welfare; they don’t want handouts; they want a good job with which they can support themselves and their families comfortably.
The tragedy of the American welfare system is that it traps so many people in dependency on government, by hindering them from getting on and climbing up the job ladder, and thereby earning self-respect and happiness.
Our fear now, confirmed by excellent research from Kathy Morris & Chris Kolmar at Zippia.com, is that the 'generosity' of the CARES Act (and the fact that politicians are loathed to remove any policy that could possibly make their voters upset) has the potential to create an entire new generation of welfare serfs, subsisting on significant welfare benefits with no incentive to 'get back to work', even after the lockdowns are lifted.
DoubleLine's CEO Jeff Gundlach appears to agree...
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16 comments:
I would leave them on unemployment, then replace all of them when she reopens.
Let’s be clear. Unemployment is an insurance NOT a benefit. Employers pay a tax to fund it for American workers. Employers who hire visa workers in OC pay NOTHING.
What do you want to bet that $600 per week will be a Democrat promise in election promises?
Hogan’s new UI system has been crashed since it went online yesterday. At this time, those $600 promises are worthless..
Another ploy by the dimocrats to destroy businesses, tearing apart our unprecedented economy and employment records.
Employers will remember and employees will be permanently unemployed come August with no $600 subsidy
It will be an employers market, as some businesses will close and the unemployed will flood the market and wages will be lower
When it is time to go back to work, show up.
This is what communism looks like.
10:47
You are right
Assuming the Fed does not print currency until the cows come home.
Then everybody gets free currency every month to buy food from the government store (Walmart / Chinamart).
How Conservative are YOU now ? Ideas and values mean little when you have no BANK.
16 weeks of the additional $600 for unemployment compensation
To be told when you can leave home and where you go. And you better like it !!!!
April 25, 2020 at 11:58 AM It was 2009 - 2010/2011 time period when they kept extending regular unemployment. I was in the group that got cut off with no extension while others were still on extensions. I was unemployed (company downsized and laid off 1/2 their staff) for nearly 2 years looking for a full time job. Drained most of my savings trying to survive. No health insurance, cut off house phone, cable, etc. Took me years to recover. People never learn, or listen.
If you are not one used to working the system or growing up being taught how to work the system, its a long tough road.
Democrats wanted (Nancy) an Additional $600 per week for 13 weeks. Everyone knows that Trump campaign for re-election was the economy. Democrats are destroying that economy. When I heard about the extra 600.00 I told my husband people on unemployment will not want to go back to work. If a person on unemployment turns down a similar job they had before the virsus should have their unemployment cancelled.
This is the same effect with welfare.
Why work when you can sit on your lazy ass at home collect welfare and become big and fat?
Democrats (Nancy) wanted and got an Additional $600 per week for 13 weeks. Everyone knows that Trump's campaign for re-election was the economy. Democrats are destroying that economy. When I heard about the extra 600.00 I told my husband people on unemployment will not want to go back to work. If a person on unemployment turns down a similar job they had before the virsus should have their unemployment cancelled.
Not many SHHHHT jobs pay $600.00 week , can't Blame them !!!!
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