I posted this because it is being repeated over and over by Democrats to sell endless benefits and sounds idiotic. Today Cavuto (FNC) had a small business owner on who said that many job candidates will not take jobs till the compensation runs out.
‘Free lunch pays for itself’ ping!
Quit working....save the economy. Riiiiight
I guess that means that many of the unemployed will be competing for minimum wage jobs. With the stimulus of unemployment compensation looking like it's coming to an end (and what a shock, after an election) the real economy is about to be unmasked.
If you think things are bad now, you ain't seen nothing yet.
“We don't have enough low-wage workers to serve all their needs in retirement - and boomers are anticipated to be a highly active set of retirees, living longer and with more demands on the economy than their parents ever called for. In other words, we need workers, especially low-wage ones, and we have not bred enough of them in-house, so to speak. Immigrants can fill these needs now and in the future......I'm always amazed, when talking about immigration, that so many well-educated people are oblivious to the various levels within our labor force. They are grooming and educating their children to hold professional, well-paying positions. But these same folks seem blind to the idea that we will always need many, many low-wage workers - that the economy as a whole does not turn on the labor of doctors and nurses and the highly skilled alone. Someone has to take out the trash, mow the lawns, wash the dishes, pick the crops, paint the houses, cut up the pork loins and gut the chickens. “
Baby boomers need immigrants (or “not enough poor workers in America”, what???) 2007 Baltimore Sun editorial
Guess what the Sun is saying NOW..These unemployed low skilled workers are doing their part by collecting unemployment checks and stimulating the economy by spending them. Yep.
If that's the case, then every tax dollar stolen from those that earned it has the effect of $4 removed from the economy.
Unemployment is a form of socialism, and the problem with socialism is that eventually, you run out of other peoples' money.
While the exact amounts in the story below may not be right, the moral of the story is true.
Remove $2 from the pocket of a taxpayer. Taxpayer does not spend $2.
Pass it through government bureaucracy (Fed Gov collects money, Fed Gov distributes money to states, State Gov receives money, State Gov distributes money to unemployed). Cost of bureaucracy: $1? Bureaucrats pay union dues: 2 cents. Bureaucrats spend 98 cents.
Union leaders spend 1 cent on themselves, 1 cent on politicians’ campaign funds for continued support for unemployement insurance.
Unemployed person receives $1. Unemployed person spends $1.
Economy “grows” by $2 for $1 in unemployment benefits!
Who lost?
Taxpayer lost $2.
Employers who have to pay high wages to compete with paid govt vacation (unemp ins), and who therefore cannot expand their businesses.
Who won?
Bureaucrats: 98 cents
Union leaders: 1 cent (for every unemployment dollar)
Politicians: 1 cent (for every unemployment dollar)
Unemployed person living with his relatives and not needing to look for a job: $1.
They all thank you very much, Mr. Taxpayer.
The only way this math is not true is if the Fed Gov prints money or borrows it to pay for some of the original $2 collected from the taxpayer.