Connect with us

Economy

Dem Senator Joe Manchin ‘Done with Extensions’ as ‘Economy is Coming Back’

Published

on

Joe Manchin

Even Democrats are starting to get on board that the government needs to stop its federal handouts. With the global coronavirus pandemic, many employers have struggled to find employees willing to come back to the workforce when their alternative is to continue to get paid to do nothing.

Over the weekend, Democratic Senator Joe Manchin from West Virginia indicated he will no longer support extensions of federal aid for gig workers and long-term unemployed Americans past Labor Day in a Democrat-only package, reports Business Insider.

“I’m done with extensions. The economy is coming back” Manchin expressed to Insider. “Look guys, read your own print. Read your own print. The economy is stronger now, the job market is stronger. Nine million jobs we can’t fill. We’re coming back” added the Senator.

Business Insider reports:

The West Virginia senator’s opposition would effectively kill the renewal of those federal aid programs, given all 50 Senate Democrats need to back the party-line bill for it to clear the upper chamber. Democrats are drafting the initial bill, which will pass through the reconciliation process requiring only a simple majority vote sometime this fall.

Nearly 9.4 million people are currently receiving benefits through a pair of pandemic-era federal initiatives: Pandemic Unemployment Assistance (PUA), which expanded benefit eligibility to gig workers. Then Pandemic Extended Unemployment Compensation (PEUC) extended how long recipients could collect benefits for. Jobless people also qualify for a $300 federal weekly unemployment supplement.

Currently, unemployment is slated to end September 6th after an extension was given in Biden’s stimulus. While the number of unemployment claims has been falling showing people are returning to work and the economy is making a recovery, some Democrats still want to continue the handout programs.

Former economist to Obama recently supported extending the programs after the September 6th date and “grandfathering” in current recipients. “I would also seriously consider extending the programs and possibly making them contingent on caseload and hospitalization numbers” said Furman who is currently a Harvard professor.

Continue Reading
5 Comments

5 Comments

  1. Slideglide

    August 10, 2021 at 9:52 am

    🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸♥️♥️♥️♥️🌎🌎🌎🍓🍓🤪

    Manchin cannot be trusted as he has shown to be a Democrat Party stooge.

    He comes off as a Patriot, but his voting history is all Democrat as Schumer commands.

    The real problem in the current Senate, are the Republicans who vote with Democrats, to further their Marxist agenda.

    Our country is on an avalanche of Marxism, with an increasing number of Republicans seeking their share of the “pork barrel” that Democrats are offering in exchange for unrestritive passage into a political whirlpool towards central planning by American Autocrats.

  2. Marcia D'Alcorn

    August 10, 2021 at 9:52 am

    Who doesn’t want to get paid for doing nothing- it’s human nature to be lazy. On the other hand, nothing makes a person feel more worthwhile or just plain good than being able to take care of yourself and your family and saving for the future. This country was based on religious freedom and the opportunity to get ahead. Europe’s downtrodden came here to do just that and to get out from under tyrannical rulers.

  3. WillyB

    August 10, 2021 at 1:15 pm

    Clearly the Democrats want to keep the freebees and handouts going until the 2022 campaigns, so they can use their usual scare tactics to get votes of all those on the dole. If we don’t stop them in 2022, by 2024 there won’t be elections.

  4. Mike

    August 10, 2021 at 9:58 pm

    Why has it taken the Dems sooo long to figure this out. Any normal person with a half an ounce of common sense could have figured that out. No wonder the Dems are doing such a horrible job attempting to run the country.

  5. Rebecca J Spicer

    September 11, 2021 at 11:33 am

    Manchin always says he’s not gonna vote for them the day is the votes that piece of shit votes for, don’t believe him he Faust this shit hoping it will save his votes when he’s up for reelection, he’s a liar and scum like the rest

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

Dem’s $3 Trillion Tax Hike Hurts Working Families and Small Businesses

Published

on

Tax

The Democrats’ almost $3 trillion tax increase proposal would deeply impact small businesses and working families. “This is the largest tax increase since 1968 compared to the size of the economy and the largest tax increase ever in nominal dollars” reports the Americans for Tax Reform website.

“Raising taxes on working families by increasing the federal corporate income tax rate from 21 percent to 26.5 percent” will be passed along to working families in the form of “higher prices, fewer jobs, and lower wages.”

As a result, the U.S. will have a combined state-federal rate of 30.9 percent. That rate is “higher than our foreign competitors including China, which has a 25 percent corporate tax rate, and Europe which has an average rate of 21.7 percent. The developed world average (OECD) is 23.5%” reports the website.

The Tax Foundation’s Stephen Entin states a tremendous 70 percent of corporate income tax is a burden to “labor (or workers)” in the form of wages and employment. In a 2020 study, the National Bureau of Economic Research found that 31 percent of the burden falls on consumers.

“A corporate tax increase will threaten the life savings of families by reducing the value of publicly traded stocks in brokerage accounts or in 401(k)s” as well as “higher utility bills as the country tries to recover from the pandemic.”

Small businesses will be impacted because “raising the top income tax rate to 39.6 percent, limiting the 20 percent small business deduction, expanding the Obamacare net investment income tax, limiting the ability of passthroughs to deduct excess business losses, and raising the corporate tax rate.”

The painful plan also increases the capital gains tax rate to 28.8 percent, adds a 16.5 percent global minimum tax, and increases the death tax by cutting the exemption level in half. Not to mention, $80 billion in new IRS funding would allow for the hiring of 87,000 new agents. “This would allow the IRS to audit and harass small businesses and American families for an additional $787 billion. It would hire enough new IRS agents to fill Nationals Park twice.”

Continue Reading

Economy

Liberal Utopia Inching Closer: Social Security Expected to Run Out of Money Sooner Than Expected

Published

on

Social security

If the novel coronavirus did nothing else, it gave Liberals a blanketed excuse for their horrendous policies. According to an annual government report, the Social Security trust fund most Americans rely on for retirement will be out of money in as soon as 12 years.

CNBC reports the 12-year prediction is “one year sooner than expected” and “the outlooks, aggravated by the Covid pandemic, also threatens to shrink retirement payments and increase health-care costs for older Americans.” Essentially, everything Democrats were already accomplishing, sans their lucky COVID-19 excuse.

The “financial outlook for Social Security and Medicare, two of the nation’s preeminent safety net programs, has deteriorated over the past year as Covid hastened retirements and caused a contraction in the size of the U.S. labor force” reports CNBC. Again, the result of Democratic policies and horrific government overreach under the guise of saving the world from the coronavirus.

CNBC reports:

The Treasury Department oversees two Social Security funds: The Old-Age and Survivors Insurance and the Disability Insurance Trust Funds. Those programs are designed to provide a source of income respectively to former workers who have retired at the end of their careers or to those who cannot work due to a disability.

Officials said that the Old-Age and Survivors trust fund is now able to pay scheduled benefits until 2033, one year earlier than reported last year. The Disability Insurance fund is estimated to be adequately funded through 2057, eight years earlier than in the report published in 2020.
Though the two funds are separate under law, the Treasury Department said the hypothetical combined funds would be able to pay scheduled benefits on a timely basis until 2034.

Senior administration officials said in a press briefing Tuesday afternoon that a spike in deaths among retirement-age Americans in 2020 helped keep the programs’ costs lower than projected. They added that the ultimate, long-term impact of the coronavirus is less clear as costs and revenues return to their extended forecasts.

Continue Reading

Leo's Hot List