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Deal reached on unemployment, payroll tax cut
cbs ^ | 2/16/2012 | ap

Posted on 02/16/2012 8:46:50 AM PST by tobyhill

Relieved congressional bargainers say they've reached agreement on compromise legislation extending payroll tax cuts and benefits for the long-term unemployed through 2012, edging a white-hot political battle a major step closer to finally being resolved.

Rep. David Camp, R-Mich., and Sen. Max Baucus, D-Mont., the two top negotiators, strode from a conference room minutes after midnight Thursday to say that only technical issues and the drafting of legislative language remained. The bill would assure a continued tax cut for 160 million workers and jobless benefits for several million others, delivering top election-year priorities for President Barack Obama.

"It's a very good deal for the country," said Baucus, who chairs the Senate Finance Committee.

(Excerpt) Read more at cbsnews.com ...


TOPICS: Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: payrolltax; unemployment
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To: tobyhill

Anyone who stays on unemployment for 3 years and say they couldn’t find a job in that time frame while in a job interview would be shown the door in my business. Period.


51 posted on 02/16/2012 11:28:22 AM PST by oust the louse (The presstitutes think after a few primaries it's over ...Santorum says: GAME ON)
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To: oh8eleven

I’m 32, have a post-graduate certificate in professional writing, and I’m working on a wedding. I didn’t take UI, because I couldn’t (forced to resign); however, I wouldn’t have taken it either way. I’m debt free and had a nice pad of savings to pay my bills. I’m just bored and tired. Don’t know how folks at retirement age could go about their lives without work. I love what I do.


52 posted on 02/16/2012 11:30:42 AM PST by rarestia (It's time to water the Tree of Liberty.)
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To: rarestia
Don’t know how folks at retirement age could go about their lives without work.
LOL ... there's a good reason Dilbert is so popular.

53 posted on 02/16/2012 11:51:38 AM PST by oh8eleven (RVN '67-'68)
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To: rarestia
Don’t know how folks at retirement age could go about their lives without work.

Most of them have less free time, than when they were working.
54 posted on 02/16/2012 12:08:01 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: tobyhill

The GOP capitulated and declared victory


55 posted on 02/16/2012 12:14:29 PM PST by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: tobyhill; ding_dong_daddy_from_dumas; stephenjohnbanker; DoughtyOne; calcowgirl; Gilbo_3; NFHale; ..
Wow, check out this HUGE concession Republicans got out of Obama:

Republicans won a provision barring welfare recipients from using their electronic cards to withdraw cash from teller machines in liquor stores, strip clubs and casinos

That alone should save our national credit rating. Republicans strike one hard deal

56 posted on 02/16/2012 12:44:02 PM PST by sickoflibs (You MUST support the lesser of two RINOs or we all die!)
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To: All
I stand partially corrected. After a conversation with Boehner’s office here's how it will go on unemployment. The 73 weeks will replace the 99 weeks for all those that get unemployed after March 1 but that is after the initial 26 weeks of state unemployment making it still 99 weeks. There will be an additional 32 weeks that can (will) kick in for states that still have an unemployment above a certain amount. The total amount is 131 weeks or 2 1/2 years, not the 3 years I previously reported.
57 posted on 02/16/2012 1:41:33 PM PST by tobyhill
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To: oh8eleven

But add this federal unemployment compensation of 73 weeks to the 26 weeks of state UI that is used initially, which adds up to 99 weeks.

Mrs. Prince of Space


58 posted on 02/16/2012 2:07:51 PM PST by Prince of Space (Obama cares a lot about the poor. In fact, he wants to make more of them.)
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To: oh8eleven
1993 ... had a mortgage, kids in college, etc. Took UI for 26 weeks, plus two under the table jobs - made more than my ex-job. Paid off all bills.

2007 ... ready to retire and didn't give a hoot. Took 99 weeks of UI gladly.

In my view you committed fraud. You gamed the system TWICE for a total of 2 years and (nearly) 5 months during periods of national unemployment misery. You should be publicly flogged.

I hope you get just what you deserve in retirement.

59 posted on 02/16/2012 3:37:53 PM PST by newzjunkey (Santorum has baggage too! Demand an inspection!)
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To: newzjunkey
In my view ...
WTF asked you? Oh, I forgot to mention - I'm also former USMC, survived 13 months combat in VN up on the DMZ.
Hurray for me and fluck you, your view and the horse you rode in on.
60 posted on 02/16/2012 4:04:43 PM PST by oh8eleven (RVN '67-'68)
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To: Red Boots

Agree. Employers pay the whole tab. Also we had to pay more this year and will for several years cause the STATE borrowed money from the FEDS to fund the system. I think everyone should get to play employeer for awhile and just see where the money goes in a business. This is just one place .gov has their hands.


61 posted on 02/16/2012 6:52:46 PM PST by therut
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To: Brown Deer
Good God. It's staring at you there, in plain English: unemployment compensation has nothing to do with the way the unemployment rate is calculated.

Don't quote my dispositive source back at me, and claim it means something else. Seriously.

62 posted on 02/16/2012 7:38:44 PM PST by 1rudeboy
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To: 1rudeboy
ARE YOU A MORON?

The original statement made was, "Because of the way they calculate U3, this (should) ironically make the U3 start shooting back up as tons of people reapply for benefits."

YOU replied, "The above is incorrect. Completely. Where does this misconception come from?"

The fact is, U-3 is the total unemployment rate. Persons are classified as unemployed if they do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work.

When people who left the workforce, reapply for unemployment compensation, they will then again be counted as part of the unemployed. This in turn will raise the unemployment rate!

Seriously!

Don't tell me what I can quote and can't quote! Obviously, you don't know what you are talking about.
63 posted on 02/16/2012 7:52:49 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Brown Deer
Ok, let me run this by you again, slowly.

Whether or not you apply for unemployment insurance, continue employment insurance, or run out of unemplyment insurance, has nothing to do with the way the unemployment rate is calculated.

It might affect the unemployment rate, for the reasons you mention, but it could just as easily affect it downward, WHICH IS WHY THE DATA IS NOT USED.

Hilarious.

64 posted on 02/16/2012 7:59:33 PM PST by 1rudeboy
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To: 1rudeboy
Whether or not you apply for unemployment insurance, continue employment insurance, or run out of unemplyment insurance, has nothing to do with the way the unemployment rate is calculated.

Pay attention, dumbo!

Persons are classified as unemployed if they do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work.

Persons not in the labor force are those who are not classified as employed or unemployed during the survey reference week.

unemployment rate = number unemployed / number in labor force

When a person doesn't find a job and runs out of unemployment insurance and stops looking for work, then after four weeks they are NO longer included in the unemployed or as part of the labor force!

Now that same person is offered additional unemployment benefits. So that same person files for unemployment benefits and begins to look for work again. So, that same person is now again part of the workforce and is also included as one more unemployed person in that same calculation above!

The fact of the matter is that there are millions of people that have recently dropped off of those counted as unemployed because they have stopped looking for work. That is why the unemployment rate has recently dropped.

Are you really too dense to understand this?
65 posted on 02/16/2012 8:14:21 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Brown Deer
Oh, you are such a genius, by explaining to me how the labor force participation rate is calculated, when we are speaking of something completely different.

It's as if I point out that apples are different from oranges, and some imbecile parachutes onto the thread to explain that it is possible to grow apples on orange trees.

What's next, "Vote Ron Paul?" LOL

66 posted on 02/16/2012 8:18:03 PM PST by 1rudeboy
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To: 1rudeboy

You really are that stupid?


67 posted on 02/16/2012 8:31:05 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Brown Deer
No, unlike yourself, English is not my second language. I understand the difference between factors that affect the unemployment rate, and factors that are used to calculate the unemployment rate.

Your level of stupid is weapons-grade. I fully expect you to return and try to explain to me the context of the conversation I was having with the others, and how your context is now the context.

68 posted on 02/16/2012 8:37:05 PM PST by 1rudeboy
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To: 1rudeboy
I understand the difference between factors that affect the unemployment rate, and factors that are used to calculate the unemployment rate.

Sorry, but you have no idea what U-3 is and how that is used to calculate the unemployment rate!

Come back when you finish high school kid.
69 posted on 02/16/2012 8:49:35 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Brown Deer
Funny, I was thinking the same thing. There must be a community college in you area that offers Intro to Econ. If you are a senior citizen, and I suspect you are, then you might even be able to take the class for free.

But I'll repeat, once again. Unemployment compensation, in any form, does not factor into how U-3 is calculated.

70 posted on 02/16/2012 8:57:43 PM PST by 1rudeboy
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To: Yashcheritsiy
Exactly. Because of the way they calculate U3, this (should) ironically make the U3 start shooting back up as tons of people reapply for benefits.

That's exactly right!

U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate)


71 posted on 02/16/2012 9:08:11 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: tobyhill
Get ready to see a spike in the unemployment numbers because suddenly these people are counted again.

You got that right!
72 posted on 02/16/2012 9:10:58 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Yashcheritsiy

Exactly wrong. I explained why, so don’t let others confuse you.


73 posted on 02/16/2012 9:17:04 PM PST by 1rudeboy
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To: Brown Deer; tobyhill
tobyhill, for example, appears to understand the point I am making . . . what's your excuse?
74 posted on 02/16/2012 9:20:13 PM PST by 1rudeboy
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To: rarestia
I’ve been unemployed for almost 4 months, did not apply for unemployment

???

Why on earth not??
You better get back from scumbag government every last dime you can before the Democrat "base" of parasites gobbles it all up.

75 posted on 02/16/2012 9:23:55 PM PST by Lancey Howard
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To: 1rudeboy

I think he understands very clearly that you’re a dumb troll.


76 posted on 02/16/2012 9:25:56 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Lancey Howard

Well first and foremost, I resigned from my job, I wasn’t fired. That alone precludes me from applying.

If I was eligible, however, I still would not take it, as I don’t feel any more entitled to it than anyone else. I had plenty of cash in savings, and aside from a Christmas blowout, the money’s kept the bills paid.

It’s wonderful being debt free and responsible with money. Thus, I don’t even want to crawl to big guv for $$. What I have, I earned by my own hard work.


77 posted on 02/17/2012 5:20:16 AM PST by rarestia (It's time to water the Tree of Liberty.)
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To: Brown Deer
And finally, we get to "anyone who demonstrates I am incorrect must be a troll." I'm surprised it took so long.

I think the source of your confusion is your assumption that, when people run-out of unemployment they stop looking for work, "disappearing" them from the calculation of the unemployment rate. Your problem is that not all of them do, and you don't know how many continue looking.

So the notion that there will be a "spike" in the unemployment rate as a result of the extension of unemployment compensation is unproven, and unprovable. And I demonstrated why.

78 posted on 02/17/2012 6:35:53 AM PST by 1rudeboy
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To: 1rudeboy
And finally, we get to "anyone who demonstrates I am incorrect must be a troll." I'm surprised it took so long.

took so long? not the first time, I've called you out, loser.

I think the source of your confusion is your assumption that, when people run-out of unemployment they stop looking for work, "disappearing" them from the calculation of the unemployment rate.

I'm not at all confused. It's you who is confused.

Your problem is that not all of them do, and you don't know how many continue looking.

Why would you think that is my problem?

So the notion that there will be a "spike" in the unemployment rate as a result of the extension of unemployment compensation is unproven, and unprovable.

Actually it is.

And I demonstrated why.

You've only demonstrated your stupidity.
79 posted on 02/17/2012 9:30:05 AM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: 1rudeboy

Unemployment calculations and the difference between sucrose and HFCS catch an unbelievable number of goofy comments.
You’re right, no matter how many times you explain it, the same clowns make the same mistakes, over and over.


80 posted on 02/17/2012 3:26:37 PM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Brown Deer

If you cannot argue the facts . . . .


81 posted on 02/17/2012 6:58:47 PM PST by 1rudeboy
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To: Toddsterpatriot

That’s what is amusing. They keep returning to it like dogs to vomit. How many times did I have to repeat myself on this thread?


82 posted on 02/17/2012 7:02:01 PM PST by 1rudeboy
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To: 1rudeboy

still waiting for you to explain how the unemployment rate is calculated...

I really don’t believe you have a clue.


83 posted on 02/17/2012 7:02:43 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Brown Deer
Oh, so now I don't know how it is calculated? LOL

How about admitting that unemployment compensation has nothing to do with the way the unemployment rate is calculated, for starters.

You do that, and we can begin talking about "how the unemployment rate is calculated."

84 posted on 02/17/2012 7:06:46 PM PST by 1rudeboy
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To: 1rudeboy

I guess I was right. You know nothing.


85 posted on 02/17/2012 7:08:21 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Brown Deer

Brilliant response. Completely invalidating everything I’ve stated on this thread to this point. You are the master.


86 posted on 02/17/2012 7:12:20 PM PST by 1rudeboy
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To: 1rudeboy

btw moron, you are the only one on this thread that keeps trying to associate unemployment compensation with U-3. Seems like you also have a problem with your basic reading comprehension.


87 posted on 02/17/2012 7:14:27 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Brown Deer

you still haven’t shown anyone that you understand U-3 or how the unemployment rate is calculated. Why do you keep avoiding the question?


88 posted on 02/17/2012 7:15:42 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Brown Deer
Oh, my . . . you need just a little bit of rest to reread the thread. I can't help it if you decide to argue with the voices in your head. Because you certainly are not arguing with me.

Does that happen often? When you are wrong?

89 posted on 02/17/2012 7:19:01 PM PST by 1rudeboy
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To: 1rudeboy

90 posted on 02/17/2012 7:23:57 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Brown Deer

Here, I’ll make one more attempt to bring you back from full retard. You ask if I know how U-3 is calcualted, and the answer is yes. Do you understand that unemployment compensation has nothing to do with its calculation?


91 posted on 02/17/2012 7:30:51 PM PST by 1rudeboy
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To: 1rudeboy
You ask if I know how U-3 is calcualted, and the answer is yes.

You really do have a problem with your basic reading comprehension. That's too bad. I feel sorry for you.
92 posted on 02/17/2012 7:38:55 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Brown Deer
So, in other words, you admit that unemployment compensation has nothing to do with the way U-3 (or U-6, etc.) is calculated. Thanks.
93 posted on 02/17/2012 7:42:36 PM PST by 1rudeboy
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To: 1rudeboy

Please point me to where you read that.


94 posted on 02/17/2012 7:51:02 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Brown Deer

LOL, you’re the expert on U-3, I guess . . . LOLOLOL


95 posted on 02/17/2012 7:53:04 PM PST by 1rudeboy
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To: 1rudeboy

It’s about time you admitted that you don’t know what you’re babbling about. So long loser.


96 posted on 02/17/2012 7:58:46 PM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Brown Deer

Buh bye. See you on the next econ thread.


97 posted on 02/17/2012 8:00:01 PM PST by 1rudeboy
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To: 1rudeboy; Brown Deer
Most annoying is to correct someone only to see them repeat the same falsehood later. Please pay particular attention to the second paragraph. From the BLS website:

In other words, the website you so helpfully pointed us to says exactly what I was using to come to my conclusion. Thank you for substantiating my statement.

Now, perhaps, you wouldn't have to "correct" people every week if you actually knew what you were talking about, or had the sense to simply mind your own business instead of trying to be a busybody ninny who feels like he has to go around and "correct" everybody all the time.

98 posted on 02/18/2012 4:45:06 PM PST by Yashcheritsiy
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To: Yashcheritsiy
Like I said, Full Retard. Your statement, that "Because of the way they calculate U3, this (should) ironically make the U3 start shooting back up" [emphasis added], is false.

Unless you do not understand what the word "because" means. I am wondering.

99 posted on 02/18/2012 5:39:13 PM PST by 1rudeboy
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To: 1rudeboy

Uh huh. When you finally figure out how to use fractions, come see me.


100 posted on 02/18/2012 6:30:09 PM PST by Yashcheritsiy
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