reply to post by djzombie
You are absolutely correct that 100% of UI benefits go directly back into the economy. The people that need it are spending it all week to week and
budgeting to meet their necessities. Everything is taxed, even if you don't think so. Tax money that goes back into the public coffers then goes
In reality, it is a win-win situation, that is if they want to improve the economy, to extend benefits to obviously employable people. But a better
idea would be to force banks, the too big to fail ones, to extend credit instead. Businesses are failing because they can't make business.
Corporations have a way of delaying payments in a manner that truly hurts the small business, that affects the small business in way that can double
their costs for the work they perform because they get late on paying for their materials.
Banks are the same way. They act as if it were actually their own money they are gambling with when it comes to loans. They don't mind when they
gamble on wacky 'financial instruments' with your money, they just get stingy when you want some of it back in the form of a loan.
So financial institutions can get a free ride because we can't let them fail. Lots of regular people lost lots of money, the bailout was a way to say
at least you didn't lose everything. The wizards at the top lost nothing, in fact gained more.
Money is a tool, but the source is labor. My point is that labor is needed to create this wealth that is being distributed. Construction,
manufacturing, and agriculture need to be promoted without all the silly laws needed to perform such work in order to make it strong again. People
don't get unemployment from their jobs flipping burgers or selling shoes. They get laid off from their areas of expertise, which is likely in the
former industries because the credit is tight and their is no money to spend on anything extra than just the bare necessities.
That is why people get unemployed, no paying customers. It all comes from the pimps up top who make the decisions, (and I mean congress and senate, as
they care not) that helps a person become unemployed in the first place. Normally if you suck at your job or you just don't like to work, you are not
entitled to UI.
Creating jobs would be as easy as extending credit and getting people back to work. All those "bonuses" handed out to execs that were recipients of
the bailouts would go a long way towards revitalizing this country. The loans get paid back anyway at interest or they seize your assets.
Just think, you get foreclosed on, who gets your home? The banks lost nothing because a home still has that value, what money they did get is just
gravy on top. Now when a family is on the other side of that, what did they lose? The banks don't want to pay property taxes either but they have to
and I think thats their outrage, plus these debts have been repackaged and sold multiple times and they lost once the scam was figured out. All in all
a very sinister cascading effect has happened.
The bottom line is that people, who through no fault of their own, should have this safety net left in place being since they set the precedent for
banks to do the same thing, except for hundredfold. Its insane. /rant off.