The jobs report

[JustRalph]

https://www.mediaite.com/news/whoa-c...w-jobs-report/

Stunned

[JustRalph]

More: Headed back to Obama


https://cnsnews.com/article/national...exqpJCgeLsrAQc

[zico20]

Liberal websites are saying this supports why we shouldn't have ended extended unemployment. They claim it had no affect. What the morons don't realize is it is the unemployment rate that determines whether ending the benefits was smart or not. The rate fell from 5.1 to 4.8 so yes the drop can be linked to ending them. How many jobs are created is irrelevant. It is hard to create jobs when so many are unfilled.

[davew]

Originally Posted by zico20

Liberal websites are saying this supports why we shouldn't have ended extended unemployment. They claim it had no affect. What the morons don't realize is it is the unemployment rate that determines whether ending the benefits was smart or not. The rate fell from 5.1 to 4.8 so yes the drop can be linked to ending them. How many jobs are created is irrelevant. It is hard to create jobs when so many are unfilled.

It is hard to create jobs when so many are unfilled.


the $3.5+ TRILLION green human infrastructure bill would create over a million jobs working for the government.


and they are practically FREE because most of their pay goes back to the givernment

[tucker6]

The big kick in the a$$ for employers these days is the child tax credit. It's killing the economy more than the extended UI benefits ever hoped to do.

You don't have to be an economist to understand that if someone working 32 hours/week taking home $1,350 a month is offered a child tax credit for her 4 kids totaling $1,150 per month to sit on her backside and not work, she/he will take door number 2 every single time. I would! She can work one day a week and bring home another $400/month, giving her a lot more income for a lot less work. What a scam.

[Tom]

Everything they said Trump would do wrong was written down on a list. Biden found it and thought it was hid "to do" list.

[Inner Dirt]

I believe the unemployment numbers as much as I believe the inflation ones. There has to be some funny math going on. Between the grocery store and buying supplies to run my machine shop I am paying 30% more than last year on most everything. As for shop supplies I have noticed a huge increase on shipping charges on consumable items that I frequently re-order in the same quantities. I am ordering a lot from large companies that get deep discounts from UPS, that they used to pass on to customers. As an example I just received two small one pound boxes, UPS ground from 300 miles away. They were part of the same order and came from the same place. The shipping bill was $46 + a $5 handling charge. That is freaking nuts.



With unemployment numbers do they not count those who refuse to go back to work? I see help wanted signs all over the place and lack of workers being blamed for supply chain shortages. These aren't new jobs, just old ones that were vacated.

[fast4522]

Originally Posted by Inner Dirt

I believe the unemployment numbers as much as I believe the inflation ones. There has to be some funny math going on. Between the grocery store and buying supplies to run my machine shop I am paying 30% more than last year on most everything. As for shop supplies I have noticed a huge increase on shipping charges on consumable items that I frequently re-order in the same quantities. I am ordering a lot from large companies that get deep discounts from UPS, that they used to pass on to customers. As an example I just received two small one pound boxes, UPS ground from 300 miles away. They were part of the same order and came from the same place. The shipping bill was $46 + a $5 handling charge. That is freaking nuts.



With unemployment numbers do they not count those who refuse to go back to work? I see help wanted signs all over the place and lack of workers being blamed for supply chain shortages. These aren't new jobs, just old ones that were vacated.

Just a short time ago today I was at the checkout line at Market Basket grocery store, the woman with the cashier in front of me was having a tough time getting $267.00 applied or to come off her food stamp card. I guess on the third attempt with a $255 total it was not declined. My observations were all negative and when I got to the parking area to see her 2020 Honda Accord next to my 2020 Camry my thoughts did not get any better. I have never used food stamps in my life or any of the safety nets this country provides. Unemployment is just the tip of the iceberg.

[JustRalph]

Originally Posted by tucker6

The big kick in the a$$ for employers these days is the child tax credit. It's killing the economy more than the extended UI benefits ever hoped to do.

You don't have to be an economist to understand that if someone working 32 hours/week taking home $1,350 a month is offered a child tax credit for her 4 kids totaling $1,150 per month to sit on her backside and not work, she/he will take door number 2 every single time. I would! She can work one day a week and bring home another $400/month, giving her a lot more income for a lot less work. What a scam.

This!

Incredible amounts of money being tossed around. It’s a double edged sword for me. It brings me extra customers and revenue, but many are previously housebound types with terrible attitudes and an incredible sense of entitlement. Their children are hell on wheels in a restaurant

I have employees who have decided they can afford to take off whenever they want, because they have extra cash.

Since unemployment spiffs have ended, I have seen an uptick in male applicants though.

[tbwinner]

Originally Posted by tucker6

The big kick in the a$$ for employers these days is the child tax credit. It's killing the economy more than the extended UI benefits ever hoped to do.

You don't have to be an economist to understand that if someone working 32 hours/week taking home $1,350 a month is offered a child tax credit for her 4 kids totaling $1,150 per month to sit on her backside and not work, she/he will take door number 2 every single time. I would! She can work one day a week and bring home another $400/month, giving her a lot more income for a lot less work. What a scam.

Child tax credit or earned income credit?

The "increased" child tax credit is more an advance on one's "normal" credit that they get at tax time. You get the full amount up to 100K in earnings IIRC. You will see people with lower refunds this year wondering what happened to their normal 5K-10K they've become used to "free" from the government.

Say you have 3 kids over 6, you're currently getting $750 a month in advance. At tax time, assuming everything else is Zero tax at tax time, you will get $4500 refund (9k child tax credit minus 4500 advances). In prior years when CTC was 2K/kid they'd get $6000. A lot of people will claim they've been shorted, when really they squandered most of it throughout the year.


On the EIC side, you could make a case that it is cheaper and more beneficial to work 1 or 2 days a week collecting EIC credit along with CTC than it is to work a FT job and pay childcare forgoing any EIC.

[tucker6]

Originally Posted by tbwinner

Child tax credit or earned income credit?

The "increased" child tax credit is more an advance on one's "normal" credit that they get at tax time. You get the full amount up to 100K in earnings IIRC. You will see people with lower refunds this year wondering what happened to their normal 5K-10K they've become used to "free" from the government.

Say you have 3 kids over 6, you're currently getting $750 a month in advance. At tax time, assuming everything else is Zero tax at tax time, you will get $4500 refund (9k child tax credit minus 4500 advances). In prior years when CTC was 2K/kid they'd get $6000. A lot of people will claim they've been shorted, when really they squandered most of it throughout the year.


On the EIC side, you could make a case that it is cheaper and more beneficial to work 1 or 2 days a week collecting EIC credit along with CTC than it is to work a FT job and pay childcare forgoing any EIC.

#1, there should be no child tax credit whatsoever. You have a kid, that's on you to make it work economically. Why should I have to pay for someone else's mistake during sex?

#2, Biden and the dems want to make the monthly child tax credit permanent. Pure and simple, this child tax credit is wealth redistribution. It does nothing to improve the lives of these children, nor their families, nor small business, nor America. It is idiotic to an extreme.

#3, the child tax credit does not get any one of these families out of poverty. They are simply working less to "maintain" their "lifestyle", which is why the unemployment rate fell even though few jobs were created. Fewer people actually want to work. There is a huge segment of the population that prefers to live paycheck to paycheck, and an extra $5 in their pocket is a mistake that has to be spent. In the spring when people get their tax refund, they will take off two weeks because they will live off the refund until it runs out. In our business, if we give out a pay raise to one of these people, it means they won't want as many hours each week, so it makes us reluctant to reward them as it hurts us both financially and in getting the contract work completed. It's insanely counterintuitive.

#4, these freebies are unsustainable in a market economy. At some point, just like you see in Venezuela, Cuba, and the Soviet Union, the hard workers trying to get ahead work less hard until the tax revenue cycle spirals out of control. Conversely, the free money floating around increases inflationary pressure to where the govt needs to hand out more and more freebies until the system collapses, but at that point we'll be at war with each other.

[tbwinner]

The Child tax credit has always existed since 1997 but I do agree that trying to increase it so much and the monthly payments permanent has a lot to question. You got it making up to 110k before and Trump tax cuts doubled the tax credit and increased the limit to 400k for married filing joint. You can be upper middle class and still get the 2k per child (3k this year). The Biden "child tax credit" is merely an increase for one year and advancing half of it.

I do agree that the CTC, along with EIC and other welfare items, there is a disincentive to work if you could only work in lower to low-mid paying jobs. What's the incentive to get ahead if you lose a monthly benefit?

[Inner Dirt]

Originally Posted by fast4522

Just a short time ago today I was at the checkout line at Market Basket grocery store, the woman with the cashier in front of me was having a tough time getting $267.00 applied or to come off her food stamp card. I guess on the third attempt with a $255 total it was not declined. My observations were all negative and when I got to the parking area to see her 2020 Honda Accord next to my 2020 Camry my thoughts did not get any better. I have never used food stamps in my life or any of the safety nets this country provides. Unemployment is just the tip of the iceberg.

At least you had comparable vehicles. The last place in lived in SoCal I voted at the nearest grade school. I always vote, even if it a special election for head dog catcher. The polling area was down a hallway past the cafeteria.
I pretty much went right when the polls opened. School was not in session yet, the only kids there were in the cafeteria for free breakfast. Most all the kids were eating while playing with their smart phone (I had a flip phone at the time). Almost every kid was dropped off by a parent with a lot newer SUV than I had. Every kid at school that early was there for the free breakfast.



I have no problem with social programs to feed people. My problem is those that abuse the system. Unfortunately these programs need more and better over site. Some people seem to have no shame. My favorite pet peeve has always been the person buying $100 of groceries with an EBT card while paying cash for a $100 cartoon of cigarettes. I swear if I ever did something like that I would have to be wearing a disguise and not go to the same place twice. Second pet peeve is a person using an EBT card to buy potato chips, full sugar soda and candy bars. That is nothing but a bunch of expensive empty calories, crap they would not buy if they were paying for it.



I always say if you are poor, live like a poor person, then I have no problem with you. I never took a social program dime either, and moved out when I was 17.


My white trash food of choice was home made spaghetti, only put in meat on special occasions. I would make a huge pot of it and often ate 3 meals a day of it. Another cheap food option was my friends and I would hit the K-Mart close to closing time and wait for the blue light special cleaning out the premade sandwiches.


Most of my male friends in High School lived by the rule that you hit the road when you were 18. If you can't find a roommate and a job to survive your dad would happily drop you off at the armed forces recruiting office.

[lamboguy]

the Brookings Institue ranges from centrist to liberal. (just to put the agenda of this article into perspective)

https://www.brookings.edu/blog/fixgo...a-record-high/

[Tom]

Originally Posted by Inner Dirt

My white trash food of choice was home made spaghetti, only put in meat on special occasions. I would make a huge pot of it and often ate 3 meals a day of it. Another cheap food option was my friends and I would hit the K-Mart close to closing time and wait for the blue light special cleaning out the premade sandwiches.

You lucky stiff! Could have been worse...