In 21 states, individuals on unemployment can pull in $25 an hour.
There are 9.3 million job openings currently in the U.S. labor market. In other words, there are plenty of jobs to be had for anybody seeking one. But that’s just the problem — few people without jobs are seeking work.
The catalyst for this particular situation falls primarily at the feet of the federal government with its overly “generous” COVID unemployment benefits. The federal government’s “temporary” $600 per week unemployment supplement — in addition to existing state-level unemployment payments — has effectively disincentivized working for a living. Yet it might be even worse than anyone knew, at least according to a newly released study from the Committee to Unleash Prosperity.
The study highlights include some doozies:
* In 21 states and DC, households can receive wage equivalent of $25 an hour in benefits with no one working.
* In 19 states, benefits are equivalent to $100,000 a year in salary for a family of four with two unemployed parents.
* In all but two of the blue states, $300 Supplemental Unemployment Insurance benefits plus other welfare pay more than the wage equivalent of a $15 minimum wage.
According to University of Chicago economics professor Casey Mulligan and Texas Public Policy Foundation economist Stephen Moore, “It is now nearly beyond dispute that supplemental unemployment benefits are reducing employment.” Moreover, they assert, “If Congress or the remaining states were to suspend the weekly benefit supplement, several million more workers would gain employment over the summer months.” Which is precisely what the economy needs.
Incentivize working via income, and people will go find jobs; incentivize not working by giving government payouts, and people will sit at home. That in turn means they become a drag on the economy while at the same time ensuring that the cost of living goes up for everyone. Never mind the ever-growing national debt. Other than that, what’s not to like?
Written by Thomas Gallatin for The Patriot Post ~ June 17, 2021
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About admin
Please allow me to introduce myself; I am Jeffrey Bennett, President of Kettle Moraine, Ltd., the parent of Sierra Madre Precious Metals.
I have been married for 53 years with two children and four grand-children, a veteran of Viet Nam, student of history (both American and film), and was host for fifteen years of Perspectives on America on the alternative airwaves, covering such subjects as, health and wellness, news, political satire, education and editorial commentary on current events through the teaching of history, and Protecting Your Wealth. In early 2018, I took a several month hiatus to complete some family business but returned to airwaves April 17, 2018).
At the age of ten, I sat in a bank-vault in the Citizens Bank of Mukwanago, Wisconsin with my grandfather going through bags of old American Peace dollars, hand-selecting each coin as dated rolls of 20 coins were carefully put together and rolled. Learning of the history of these beautiful pieces of Americana, I asked my grand-father, "Why are we doing this?" to which he replied, "Because someday they are going to do the same thing with the silver in our money that, that (S.O.B.) Roosevelt did with gold in 1933." It took only six-years for his prediction to come to pass at the hands of a disciple of Roosevelt's... and what will a Federal Reserve 'dollar' purchase today - and what will that old 90% Silver Peace Dollar purchase?
Although at the age of ten, there was little understanding of the meaning of it all, over the next half-century I became well-versed on the subject matter. During this summer of my education, I began to purchase silver coins as a collector and some small, international gold coins two years later - not an easy feat in the shadow of the Roosevelt confiscatory policies of 1933. Although those policies remained in effect until the mid-1970's, it was not until 1991 that I found that one could make a living providing precious metals and collectible, historic numismatic coins to a willing and concerned clientele.
It was also during that year, that I began a relationship with one of the first Trust companies to give the public access to gold and silver as part of an Individual Retirement Account (IRA) - and Kettle Moraine, Ltd., founded in 1995, but have ceased providing service due the the intense change-over of the provider.
In November 2011, after a 15 month broadcast on another network, I returned to the airwaves with my then revamped program, Life, Liberty & All That Jazz, and for over 28 years, I have been proud to serve the family of listeners of my numerous broadcast programs for physically-held precious metals for investors and collectors alike. On March 23, 2020 I launched my brand new - appropriately named program, The Edge of Darkness on the Republic Broadcasting Network, and thus continue to remain available to our long time clients and their families. Ah yes - find out what "inter-generational" wealth provision has done for our clients over the past three decades.
Don't buy the sizzle of that steak until you understand the cost! In other words, don't buy the bull being dispensed by the 'rare coin' pitchmen until you understand the full story. We, at Sierra Madre Precious Metals, will be proud to serve your needs.
