“The Labor Department announced on Monday that it will be awarding almost $100 million in grant funding to states to prevent layoffs by allowing businesses to pay employees as part-time workers and the federal government will pick up the tab for the cost of a full-time paycheck.”
Right on!
But these days 100,000,000 mighty USD’s is such, well, really chump change, compared to the billions required to keep the banking CEO in their austere lives on 10,000,000 / head. Shurely somatt has gone rong wiv me maffs, or theirs?
Subsidies, food stamps, yep, gotta keep those unemployment numbers down, otherwise the mood of the peeps might turn angry. Just keep feeding them more TV and fast food.
“A group of rising young Conservative MPs claims that ‘idle’ British workers are damaging the economy by failing to compete with ‘grafting’ Asian countries.”
“The five, who are all 40 or younger and entered Parliament at the last election, are publishing a new book in which they say that “lazy” Brits prefer a lie-in to hard work.
Due to be published on the eve of the Conservative Party election, the book, called Britannia Unchained – Global Growth and Prosperity, also criticises the “baby boomer” generation for seeking to raise taxes for young workers to pay for their lavish pension pots.
Kwasi Kwarteng, Priti Patel, Dominic Raab, Chris Skidmore and Elizabeth Truss, who are all seen as rising stars on the right of the party, describe British workers as among the “worst idlers” in the world, and urge David Cameron to reform work places along the lines of the Asian, rather than the European model.
They say: “Too many people in Britain, we argue, prefer a lie-in to hard work. “Britain will never be as big as China or Brazil, but we can look forward to a new generation, ready to get to work.”
I doubt it.Here’s my message to you guys.”This policy will never work. The Brits think the world owes them a living, and if the world doesn’t cough up, then the State will. You will not get any votes for telling people the truth. That is NOT want they want to hear.”
CSArichardo
The rich need to pay higher taxes probably by getting rid of their loopholes and taxing hedge fund profits as income, but that is for fairness and not to fix the economic situation.
On fixing the economic situation we need to get money out to the people. QE to the people works for that (as per Keen) and you know most of it would in 10 years time have flowed to the rich .01% as opposed to the 1% !!! So it’s all win – win !!!
John_by_the_creek
Dear Mr. Mystic:
Yes indeed…sad. :) But there is a saying here in the South; “It is what it is”. I might not like it, and I might not like how we got here. But we is here! And sometimes, when you want to get somewhere else, you might have to “jump the ditch”.
And I agree with your assessment that “One Trillion” won’t go too far. The “one percent” rallying cry is simply a silly diversion.
A glance at Table 1 shows that the top 10% of tax payers are already shouldering the burden of 70% of the income tax paid here in the US. The bottom 50% are collectively covering just over 2% of the bill.
A confiscatory level of taxation is simply another one of those “confidence killers” we so desperately need to avoid given our present situation.
CSArichardo
The money piles up in the 1% because we have a system that encourages this to happen. There is nothing wrong with taxing the rich more until we get the system operating in a better balance. The arguement that there is not enough money there to pay for everything should be viewed as, “that’s right, so we need to come up with other add on options”. Another add on option is QE to the bottom 95%. That would effectively dilute the holdings of the top 5% but also provide lots of stimulus !