Got some great things in this one:
Expand the federal child tax credit from $2,000 per child to $3,000 per child
$400-per-month federal supplement to state unemployment payments, which will continue through September. The Unemployed can remain unemployed an incentive not to work.
$170 billion to assist in reopening schools
$350 billion bailout of state and local governments.
Raising the national minimum wage to $15 an hour
Biden did not address plans for spending offsets or tax increases.
Regardless of how dim a view one takes of our government competence, it would be virtually impossible for the government to spend $27 trillion without benefiting at least some poor people.
It is impossible to walk through many poor neighborhoods, from inner cities to isolated rural communities, and think that our welfare system is working the way it should.
These are areas where the government has spent trillions to reduce poverty. A high percentage of residents are receiving some form of government assistance.
The poor may well be better off financially than they would be in the absence of government aid.
Yet no one could honestly describe those communities or the people living in them as thriving or flourishing in any sense of the word.
So the government focuses too much on poverty and not enough on prosperity and how to get the people to prosperity.
A minimum wage increase isn’t necessary as in a healthy country. Supply and demand allows wages to increase with demand. Government is the cause of wage stagnation by allowing to many people into the country killing the law of supply and demand. So government artificially props up the wage.
This is pretty telling that the Illegitimacy of the Fake President Biden and his team are fearful. They themselves know they didn’t win this election without cheating when they do this. Human behavior is predictable especially those who lie for a living.
This is easy to say if you are part of the fortunate that is still employed and able to make a living. Those of us that are still unemployed through no fault of our own could certainly use the help.
I would love to go back to work (at my real job), but that seems a long way off, yet. I work under the table for $12 an hour. That isn’t even close to being able to pay a mortgage, vehicle payment, utilities and groceries. I am out of state unemployment.
I was diligent about saving money. I can live for another 10 - 11 months before I have nothing left. We aren’t all lazy people that don’t want to work. I was with my company for close to 30 years. I planned on retiring from there. My job was taken from me… I didn’t quit or get fired. I need the help.
I am really sorry to read about your struggles, my heart aches for your restoration. Yours is a true story out many that is unnecessary. Unnecessary because of a certain elitist few created this morass just like every other crisis humanity has suffered through out the ages.
The reference is directed are to the entry level unemployed.
My sister owns a restaurant. During the first shutdown sh hd to lay off most of her staff. Government added additional money to the newly UE. Her she loosened the shutdown and she attempted to call back half her staff. Over half rejected the call and remained on US which was more than they were making. She struggled looking for people to hire. Staffed up she began partial indoor service again. Second shutdown hit and people went back on UE. Her state ban th supplement to UE. Again they reopened she fced the same issue staff refusing to com back to work. She has finally hired enough staff to service the 50% allows. She received notice that she can seat all booths and tables 4’ apart. She will likely face staffing issues.
Looks like another trip and some long hours helping her until she finds enough staff to work.
It’s not about those in business laid off but about the entry level works who have little incentive to return to work.
Just like the stimulus checks to people tha are working, where does that make any sense if they are working full time at their normal pay. Wouldn’t it be better to eliminate the one size fits all and place money where its really needed.???
The state and local governments have created this problem, why should Federal Income Tax dollars be used to bail out state and local governments?
I understand that. I guess I’m just tired of hearing about us “lucky” people that sit at home collecting money. I know you didn’t mean guys like me. I would love to go back to work for real.
No doubt about that. I would have thought that this recent stimulus would have been thought out a little better. But, we are talking about politicians, so…
It will all be like in the past. Some will take the governments money and work for cash on the side. Another huge black market will emerge underground. Back to moribund annual growth rates.
Eventually interest rates will rise and stagflation will set in with a vengeance. If you think the cities struggle with the homeless now you ain’t seen nothing yet.
Increase interest rates. Interesting proposition except for 1 little thing. For every 1% increase it increases the deficit by 270 billion dollars. That’s this year, with 30 trillion around the corner that’s 300 billion in 1 year. 2020 the government spent 576 billion in interest, think they can afford 876 billion and more each year??
Think massive inflation.
Think major recession/depression.
It won’t be long now before those who hold the debt will overwhelm the Fed. They will demand their pound of flesh. We saw this in the 70’s with the overhanging Vietnam debt load. We will see it again.
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