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Ending or reducing the $600 Unemployment Supplement is cruel, hypocritical & stupid. 1/9
1st, it’s important to point out that one of the main objectives of the $600 UI addition was to help keep as many non-essential workers safe AT HOME rather than working during a deadly pandemic: to pay people to stay home, so fewer lives are lost. 2/9 https://twitter.com/DeanBaker13/status/1279032902915780609
2nd, the fact that the supplemental income reveals just how disgracefully low wages are in the US doesn’t mean we should end the supplement.
IT MEANS WE SHOULD END THE DISGRACEFULLY LOW WAGES!!! 3/9
IT MEANS WE SHOULD END THE DISGRACEFULLY LOW WAGES!!! 3/9
In capitalism, labor is bought & sold on a market & thus, wages (price of labor) are subject to market forces. Since prices in markets reflect the relative bargaining power between buyers & sellers, wages are, therefore, a function of bargaining power. 4/9 https://twitter.com/ArashKolahi/status/1210332075787608065
A 50-year one-sided class war against the working class has radically reduced the bargaining power of labor for most workers & thus depressed wages to historical lows. 5/9 https://twitter.com/ArashKolahi/status/1230953222375763969
Most families are struggling as it is. Ending the unemployment supplement when we have not even overcome the worst of the pandemic is utterly cruel. We should not be forcing families to go out looking for non-existent work when they should be home! 6/9 https://twitter.com/ArashKolahi/status/1278549893359886337
Ending or reducing the $600 unemployment supplement is also incredibly hypocritical. The financial markets, large corporations & the 1% have already been bailed-out with trillions! 7/9 https://twitter.com/ArashKolahi/status/1280608044028551168
It’s also incredibly stupid from an economic recovery point of view. The largely top-down bailout we’ve got so far will NOT pull the economy out of a recession.
Fact: Economic recovery is *most* effective when it's bottom-up. 8/9
Fact: Economic recovery is *most* effective when it's bottom-up. 8/9
Ending the $600 supplement will likely result in an additional 5 million more unemployed, furthering the downward recessionary cycle.
It will likely cost the economy more to end the supplement, than to maintain it until we are clear of the pandemic. 9/9 https://twitter.com/EARNetwork/status/1285969590313517058
It will likely cost the economy more to end the supplement, than to maintain it until we are clear of the pandemic. 9/9 https://twitter.com/EARNetwork/status/1285969590313517058
Interested to learn more about how Capitalism really works? Check out this thread of threads…. https://twitter.com/ArashKolahi/status/1260960535618543616
