There is a policy battle in D.C. between the sublime versus the ridiculous. House Speaker Pelosi has come forward with a $3 TRILLION HEROES Act stimulus plan. Under her plan, most people would make more money by quitting work and staying home than by working.
Okay, a couple of questions spring to mind:
First, if people make more money for staying home than working let’s assume most people will not work. Great, life is peaches and cream. We are all free to become social justice warriors. But here’s the question: If nobody is working who’s paying the taxes? Where does the government get its money?
Second, if we borrow the money to give everyone how are we going to pay it back? Why would anyone lend America anything?
Third, if we just print the money to pay everyone to stay home and become social justice warriors what are those dollars going to be worth? We will have more dollars paying for the same or potentially fewer goods and services.
Fourth, if nobody works who are you going to buy your food from? Who is going to ship your goods to the store that doesn’t have employees? Who is going to stock the store shelves? Where are you going to get your meds from? Who will make your toilet paper? Who’s going to take care of you if you get sick? Will schools all be self-taught? Where will the free lunches come from? Who will fly the planes? Who will sell you gas? Will your electricity generate itself?
Fifth, if that happens, unemployment would remain high, there wouldn’t be any expansion in the economy.
Sure we all want more time off. But the proposals are the sublime versus the ridiculous. Are you sensing this Democrat plan may be at least as well thought through as CHAZ? Look, these people are messing with our lives, our economy and our future. Shouldn’t they have reasoned answers to these questions before implementing such a change?
Is commonsense dead?
Trump has said he supports another round of stimulus payments to Americans. To use his words he supports, “… larger numbers than the Democrats, but it’s got to be done properly… We had something where they wanted … it gave you disincentive to work last time. Money still going to people and helping people, so I was all for that, but we want to create a great incentive, so we are working on that, and I’m sure we will all come together…”
Senate Majority Leader McConnell says he would not support another expansion of unemployment benefits. The reason is; it would encourage people to stay at home instead of returning to work.
Steve Moore said, “Whatever we do in phase 4, we cannot keep these incentives for people to stay out of the labor force… the Congressional Budget Office estimates that over 4 out of 5 Americans would make more money not working under the Pelosi plan than working… That would be catastrophic…”
Moore said that the only policy that pays people to work is the payroll tax reduction, which Trump supports. “Republicans have to draw the line and say, we are not going to have a policy that pays people more not to work than to work… the one policy out there that pays people more to work obviously is the payroll tax reduction… that’s very much on the table…” The Republican response is barely more serious than the Democrat proposal. Truly this is the sublime versus the ridiculous. Are there any adults left in D.C.?