- Jun 6, 2007
- 852
- 483
- 910
The current Congress should most definitely extend Unemployment Insurance this year and not let it expire at the end of this month like it is set to. The case for extending is overwhelming.
If this insurance is not extended two million Americans will lose their unemployment checks in December. America is now in the Christmas shopping season, this will hurt the nation's retailers big time not only these two million families spending power is affected but this cut off will spoil the consuming mood of the American consumer they will hear about these cut off families not being able to pay their bills and they will worry about their own economic well-being and hold back on spending. Early next year when the nation's retailers report their fourth quarter profits the figures will be low which will hurt these businesses stock prices and be a drag on business and wall streets confidence which could hurt the nation's economic recovery. Plus, these unemployment check recipients spend this money they get quickly they create an economic stimulating boost to the nation's economy wisdom doesn't call for taking away this stimulating boost right now when the economic recovery is still in a fragile state!
Another very good reason for holding off on the stopping of unemployment checks right now is that when it is stopped nationwide the pain from this government act on the American people is going to be significant, many of these unemployed won't be able to make their mortgage, rent, car/credit card payments, utility bills etc.. This social impact will be palpable, a new level of the hardship this recession has thrust on the American people will be evident. The American people need the current government to drop this situation on the newly elected government's lap especially the new Republican controlled House of Republicans and give them a real wake up call. Because this new Republican government is so misguided they offer no hope to the American worker as a whole on the middle income jobs front!
These Republicans with their lower business taxes and trickle down economic policies are delusional if they thing this is going to generate the numbers of middle class jobs needed by the American people! These Republicans fail to recognize that American business managers have as their priority increasing profit not creating good paying jobs. These Republicans have to gain a commitment to bring back manufacturing to America. Plenty of manufactured items used in American households and in other capacities in America have a price point where they could pay an American worker manufacturing such product a middle class wage. Republicans have to abandon their refusal to support anything that restricts free markets or free trade. Too many ordinary people get hurt with a pure free market system. Countries have to have a domestic industry to compete in a free market system otherwise the whole system is a sham, it is a government's duty to preserve a domestic industry for those goods whose prices can support such an industry - a government has a duty to work to provide decent livable wage jobs for their citizens. Republicans will tell you the answer here is we need American businesses to be doing research and development and come up with new products that people around the world will need and Americans will find good employment in making these new products. The American people have been hearing this crap from their politicians for the past twenty five years with nothing to show we have heard it about the solar power indusrty and the wind power industry and electric car battery industry and what happens American business invent this technology and other countries manufacture the products and little American employment comes from it. Republicans need to get the message from the American people enough is enough do whatever you have to fix this situation but fix it renegotiate the trade agreements allowing countries to protect their domestic industries so that a third of the products consumed domestically come from domestic industries or just start doing what the Chinese and other foreign governments do providing grants and low interest loans to businesses building and running domestic manufacturing industries and put tariffs on foreign imports to protect these industries as needed. Stopping Americans unemployment checks is a bomb and it should be dropped on the next Congress because maybe it will change that Congress for the better otherwise rest assured more unemployment bombs are coming!
If Congress needs help paying for this legislation, American businesses have foreign generated profits sitting off shore because they don't want to pay the thirty-five percent U.S. corporate tax rate on this revenue if they bought it back into the country. Congress for a year or two should lower the tax on this revenue stream to around ten percent, the U.S. treasury would get tens of billions of dollars they would not otherwise get from this tax and they could use this to pay for an unemployment insurance extension. Plus, all this offshore money coming back into the U.S. would have an economic stimulating effect for the American economy, it would be a two-for!
If this insurance is not extended two million Americans will lose their unemployment checks in December. America is now in the Christmas shopping season, this will hurt the nation's retailers big time not only these two million families spending power is affected but this cut off will spoil the consuming mood of the American consumer they will hear about these cut off families not being able to pay their bills and they will worry about their own economic well-being and hold back on spending. Early next year when the nation's retailers report their fourth quarter profits the figures will be low which will hurt these businesses stock prices and be a drag on business and wall streets confidence which could hurt the nation's economic recovery. Plus, these unemployment check recipients spend this money they get quickly they create an economic stimulating boost to the nation's economy wisdom doesn't call for taking away this stimulating boost right now when the economic recovery is still in a fragile state!
Another very good reason for holding off on the stopping of unemployment checks right now is that when it is stopped nationwide the pain from this government act on the American people is going to be significant, many of these unemployed won't be able to make their mortgage, rent, car/credit card payments, utility bills etc.. This social impact will be palpable, a new level of the hardship this recession has thrust on the American people will be evident. The American people need the current government to drop this situation on the newly elected government's lap especially the new Republican controlled House of Republicans and give them a real wake up call. Because this new Republican government is so misguided they offer no hope to the American worker as a whole on the middle income jobs front!
These Republicans with their lower business taxes and trickle down economic policies are delusional if they thing this is going to generate the numbers of middle class jobs needed by the American people! These Republicans fail to recognize that American business managers have as their priority increasing profit not creating good paying jobs. These Republicans have to gain a commitment to bring back manufacturing to America. Plenty of manufactured items used in American households and in other capacities in America have a price point where they could pay an American worker manufacturing such product a middle class wage. Republicans have to abandon their refusal to support anything that restricts free markets or free trade. Too many ordinary people get hurt with a pure free market system. Countries have to have a domestic industry to compete in a free market system otherwise the whole system is a sham, it is a government's duty to preserve a domestic industry for those goods whose prices can support such an industry - a government has a duty to work to provide decent livable wage jobs for their citizens. Republicans will tell you the answer here is we need American businesses to be doing research and development and come up with new products that people around the world will need and Americans will find good employment in making these new products. The American people have been hearing this crap from their politicians for the past twenty five years with nothing to show we have heard it about the solar power indusrty and the wind power industry and electric car battery industry and what happens American business invent this technology and other countries manufacture the products and little American employment comes from it. Republicans need to get the message from the American people enough is enough do whatever you have to fix this situation but fix it renegotiate the trade agreements allowing countries to protect their domestic industries so that a third of the products consumed domestically come from domestic industries or just start doing what the Chinese and other foreign governments do providing grants and low interest loans to businesses building and running domestic manufacturing industries and put tariffs on foreign imports to protect these industries as needed. Stopping Americans unemployment checks is a bomb and it should be dropped on the next Congress because maybe it will change that Congress for the better otherwise rest assured more unemployment bombs are coming!
If Congress needs help paying for this legislation, American businesses have foreign generated profits sitting off shore because they don't want to pay the thirty-five percent U.S. corporate tax rate on this revenue if they bought it back into the country. Congress for a year or two should lower the tax on this revenue stream to around ten percent, the U.S. treasury would get tens of billions of dollars they would not otherwise get from this tax and they could use this to pay for an unemployment insurance extension. Plus, all this offshore money coming back into the U.S. would have an economic stimulating effect for the American economy, it would be a two-for!
