What is more, the authors of the paper show that the average benefit is 134 percent of lost earnings with the bottom 20 percent of earners receiving as much as 200 percent of lost earnings. In essence, anyone earning about $1,000 per week or less receives more in unemployment benefits than from working. Basic economic theory tells that it will be hard to see substantial decreases in unemployment until the end of July when the $600 is set to expire.
I can confirm this. I was working 9-5 in a shitty Democrat-run law office, getting paid $15 after 6 1/2 years there, and being the most senior employee. My unemployment benefits have brought in significantly more money than I’ve ever made before. I was anti-UBI before the lockdown, and all of this has only strengthened my position. UBI disincentivizes work. It rewards laziness, and forces everyone else to foot the bill. I consider employment to be dignifying and respectable. But there’s a lot of losers who don’t.
Ever wonder why there isn’t a large push to reopen?
Not just people making more than previous earnings.
Some people get less than paycheck but enough to dissuade a job search.
Strange how government always incentivizes failure and then is ‘surprised’ when failure becomes the ‘goal’ of people.
I can confirm this. I was working 9-5 in a shitty Democrat-run law office, getting paid $15 after 6 1/2 years there, and being the most senior employee. My unemployment benefits have brought in significantly more money than I’ve ever made before. I was anti-UBI before the lockdown, and all of this has only strengthened my position. UBI disincentivizes work. It rewards laziness, and forces everyone else to foot the bill. I consider employment to be dignifying and respectable. But there’s a lot of losers who don’t.