Name:   MartiniMan - Subject:   Economic illiteracy on parade Date:   7/22/2020 5:15:53 PM (updated 7/22/2020 5:20:23 PM)

Typical ignorant class warfare.  Goofy, unlike income taxes every single employee pays payroll taxes from the lowest of the low to the highest earners.  But it maxes out at around $137K per year so those who make more than that stop paying FICA taxes when they reach the max.  And the poorest pay exactly the same amount of tax on their earnings as someone making $1M per year up to whatever they earn.  So some construction worker that makes $25K per year pays exactly the same FICA on that $25K as the guy that makes $200K per year.  Companies pay the other half for W-2 employees.  And self employed have to pay the entire amount (~14%).  So this actually puts more money on a percentage basis in the pockets of the lowest earners and they will presumably spend that money which will stimulate the economy.  And it frees up companies with employees to hire more with the cash they are saving.  FICA is literally the most regressive tax in our system.  But you probably never knew any of that because you are economically illiterate.

The whole idea of stimulus is to get more money into the economy and this would be an excellent way to do so.  But Democrats would prefer to give the money to unions and others so it can be laundered back to them in the form of campaign contributions.  Republicans actually want to get the money into the hands of hard working Americans.

And on top of the actual economics here is another factoid.  This is not being suggested in lieu of continuing additional unemployment benefits.  But what the Republicans are proposing is the very common sense idea that people should not earn more on unemployment than they earned when they were working.  That is a perverse disincentive to get back to work which is what the economy needs......and of course Democrats oppose this because they don't want the economy to get better and they do want to create more dependency on govt.

Goofy, I keep telling you to think before you post so you don't look like an ignorant rube.  I am trying to help you out and you simply cannot help yourself.