Why Boosting Jobless Pay Won’t Work!, 3608

Good evening, I’m still reporting on the economy.
But first, a reminder that tomorrow night at 7pm EDT, we will have another appearance by one of the world’s greatest experts on COVID and all things Fauci and Wuhan, Dr. Bose Ravenel, MD. as we continue to walk the low-profit, high danger edge of truth on YouTube. Again 7pm Eastern tomorrow evening.
Now,
Anybody other than Joe Biden who was surprised at the recent jobs report, must be still locked in their basement wearing three masks and walking around in an inch of disinfectant on the floor.
Because those of us who have been out and about trying to get back to something approaching normal life, have noticed “Help Wanted” signs all over the place.

Job Fairs where employers get together so people interested in working can go from employer to employer and hopefully find the right fit, report that the employers show up in droves, and the potential employees stay away in droves.
Restaurants trying to make up for a lost year, can’t reopen to the current COVID restriction standards whatever they are this week because they can’t hire staff.
Not to be harsh, but honest 100 percent of the blame lies on Biden and the Democrats who don’t even have a clue about the working class.
But just in case Joe Biden is watching, here it is in simple terms, “People aren’t working because you are paying them to stay home.”
Most people would rather stay home, go fishing, wash their car, cut the grass, play tennis, golf or maybe pickleball, sleep late, binge watch Netflix or even cut their toenails than go to work.
Under the American Relief Act in my state, those on unemployment receive the equivalent of $13.75 an hour, in some states it’s considerably more. But that means for anyone working for $10 an hour would have to be willing to accept a cut in pay of $150 a week for the privilege of working.
Even someone making $15 an hour would work a 40 hour week for $50. When you subtract out the cost of getting to work and a midday snack, you lose money going to work. Even someone making $18 an hour would have to think hard before giving up an almost full paid vacation for the privilege of going back to work.
When the original COVID Relief bill passed in March 2019, it made sense to offer a substantial supplement to the unemployment payments because millions of people were unexpectedly thrown out of work and had no hope of finding another job because their place of employment was closed.
When the Democrats passed the American Rescue Plan in March, the economy was in an entirely different place. People were getting vaccinated by the millions and the world was starting to open back up. From an economic standpoint it was a stupid idea to pay people to stay home completely unlike the first COVID relief act when there were no jobs.
But there is more. Biden has said he plans to raise individual, corporate and every other kind of tax he can, and Biden is re-implementing the draconian regulations of the Obama administration as fast as he can.
The business world hates uncertainty. A corporation that is planning a major expansion needs to be able to project the costs versus the anticipated revenue.
If Biden is going to raise corporate taxes by 40 percent from 20 percent to 28 percent, that’s has a huge effect on the bottom-line and with the new numbers in place it may make more sense to build that new facility somewhere other than the US. If new regulations are going to bring additional expenses, then the option of building in a more business friendly country becomes a necessity not an option.
Add to that additional energy costs. Biden is shutting down the American energy sector. The corporate heads in this country are not idiots and they know that despite what AOC says they can’t operate on solar because sometimes they may have employees who want to work after sunset or on a rainy day.
The US will once again be at the mercy of foreign governments for oil and gas. The price has gone up and will continue to go up. It is far less predictable if the oil is coming by ship from the Middle East than if it is coming through a pipeline from North Dakota or the Gulf Coast. The Gulf of Mexico is a pretty sedate place when compared to the Persian Gulf.

The US economy pre-COVID under Trump was setting records for low unemployment and growth. Trump did that by supporting American industry with lower taxes and fewer regulations.
Biden is raising taxes and increasing regulations and it is doing exactly what it is supposed to do, it is killing the American economy.
Biden probably was surprised by the jobs report because he believed the left wing economists who told him that throwing $2 trillion into a recovering economy would give it a big boost and increased taxes and regulations wouldn't damage it.
Then again Biden may have been surprised, because he is pretty much surprised by everything these days.
On the upside at least he doesn’t bite people when he’s startled like Major.

I’m still reporting from just outside the citadel of world freedom. Good day.