The unemployment bonus has been working, so why do Republicans want to slash it? - Business Insider

It seems to be true that Americans, on average, are earning more with the benefit than they were without it. A recent Deutsche Bank report found, as Business Insider'spersonal income since the start of the recession.

But Americans haven't been holding onto this money. They're spending it, and spending it on important things, research suggests. Analysts from the Kellogg School of Management at Northwestern University that analyzedfound that individual spending went up for food, household items, and bill payments, including rent, "suggesting that many people were using the funds to obtain necessities and catch up on bills.

Nor has it been a disincentive for Americans to go back to work because, well, they've started going back to work. In, while the unemployment bonus was still operative, American businesses added more jobs than they cut for two straight months. The US added almost 5 million jobs in June as the unemployment rate fell from 13.3% to 11.

According to research by the JPMorgan Chase Institute of 61,000 households, the $600 unemployment payment helped Americans spend 10% more than they did before the pandemic,"Our estimates suggest that expiration will result in large spending cuts, with potentially negative effects on both households and macroeconomic activity," the researchers wrote."This is what happens when you give money to the bottom 50% — they spend it, any which way they can.

Ideology.

Because no one wants to go back to work

'Has been working'. Wow, printing fake money to prop up a fake economy worked? Fake isn't 'working'.

What is so hard for you to understand the idea is to get people back to work not give them more than they were making to stay home. Your a business publication should you really need this explained to you.

You shouldn’t make more on unemployment then you do working. At the most an appointment should be capped at 75% of your wages

Because people value work and not dependency on the government.

So people will go back to work?

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Congress must extend $600 a week unemployment benefits, help communities of color - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. ArnabDatta321 IndivarD No deal in Congress will be made if they don’t extend it ArnabDatta321 IndivarD Why just color?!? Why not Americans?!? Divisive again by media. ArnabDatta321 IndivarD Find another way to help the unemployed. They may have backed up bills.
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