It appears that the Trump Administration has encountered an unpleasant hurdle with its stimulus handouts. Except this time, its not the big corporations being scrutinized for receiving too generous of government-funded paychecks, but rather the working class.
Larry Kudlow, the White House economic advisor has recently announced on Fox News that the US Federal Government is considering unveiling yet another round of stimulus checks for Americans, but surprisingly they would not be aimed as an unemployment benefit for the working class, but rather a “back to work bonus.” As odd as that sounds, Kudlow pointed out that many Americans are receiving more in unemployment benefits than they were when they were working, and now they have become deincentivized as the economy is gradually starting to open.
As part of the CARES Act, each qualifying American received a payment of $1,200, in addition to a $600 weekly top-up. Turns out, those stimulus aids add up to more income than what half of US workers make while employed full time – thus, it makes sense they would would want to sit on the sidelines for as long as possible.
As laughable as it may sound that the US government now has to essentially bribe the working class to come back to work, there is a much deeper underlying issue here. If over half of workers in the US get paid an income less than that of basic unemployment insurance, then perhaps the United States has a much deeper rooted problem.
And here’s another point to consider. Besides the obvious preference of staying at home and receiving “free” money as opposed to going to work: perhaps the jobs that Kudlow is urging the working class to return to, are just that terrible of jobs to begin with, and no one actually wants to do them? Maybe Kudlow needs to get Jeff Bezos up here, so he can roll up his sleeves and show those pesky US workers how its done.
Information for this briefing was found via Fox News and Zero Hedge. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.