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Topic: The Wages of Unemployment |
The Wages of Unemployment
Wall Street Journal, by Richard Vedder
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Original Article
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Posted By:Desert Fox, 1/15/2013 7:25:05 PM
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| From the mid-17th century to the late 20th century, the American economy grew roughly 3.5% a year. That growth rate has since declined significantly. When the final figures are in for 2012, the annual rate of real output growth for the first dozen years of this century is likely to be about 1.81%. What accounts for the slowdown? An important part of the answer is simple: Americans aren´t working as much today. And this trend reflects more than the recession and sluggish economy of the past few years.
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Reply 1 - Posted by:
jalo1951, 1/15/2013 7:36:48 PM (No. 9118774)
Mr. Vedder is a mean heartless man who has no problem seeing children starve, the disabled ignored sitting in their own waste and the unemployed abused by suggesting that they look for work. Obviously he is a Republican. s/o If we don´t get on the stick and fix this problem - well, you know. We will be in the fast lane to disaster.
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Reply 2 - Posted by:
retiree, 1/15/2013 7:52:20 PM (No. 9118797)
JOBS = Revenue. We wouldn´t have to borrow if there were jobs.
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Reply 3 - Posted by:
Donna M, 1/15/2013 8:49:57 PM (No. 9118867)
What nobody is counting is the human capital cost--millions, especially highly skilled people 40-60+ who should be peaking in responsibility, business generation and nurturing the next generation of managers NOW and instead are sitting on the sidelines. Chaos is not breeding creativity for the most part. Net net, it is pure destruction for the most part without the creativity.
Trust me, everyone who falls into that category does not want to be on unemployment. The stories are pretty similar where I am. You don´t get considered because you´re overqualified. Being older and auditioning for a marketing manager position in an early-stage health tech company run by 40 year olds is an example. Even though you succeeded recently with early-stage companies just like theirs, if they give you a hearing, they don´t want ´mom´ (as they see it) on board. It hurts and takes its toll. And when you are over 50, retail and service jobs will give you a pass (been laughed at!) Another factor--many companies are gradually running into the ground and that breeds all kinds of dysfunction. Welcome to the Obummer Economy, Crony Capitalism and The Socialist US!
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Reply 4 - Posted by:
3XALADY, 1/15/2013 9:28:24 PM (No. 9118909)
#3 I experienced the exact same thing when I got laid off at the big airplane manufacturer in St. Louis after Mr. Cheney cancelled the A-12 contract in January 1991. I was 45 years old. My name was pencilled in on the lay off letter after the name of a 55 year old female was blacked out. 10,000 people were laid off at the same time and I didn´t find a job until August. I know exactly what you and all others who WANT to work are going through and it isn´t pretty. My heart goes out.
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Reply 5 - Posted by:
ColonialAmerican1623, 1/15/2013 11:01:34 PM (No. 9119034)
How can bringing more immigrants into the situation help, especially those with advanced degrees ?
Money makes the world go around and the unemployed can´t stimulate the economy, or buy green cars.
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Reply 6 - Posted by:
woofwoofwoof, 1/16/2013 12:27:40 AM (No. 9119123)
This Vedder and WSJ are blind as bats.
There are fewer people working because all the jobs were shipped to China.
Yes, yes, comparative advantage, and just how is that working for ya?
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Reply 7 - Posted by:
Trigger2, 1/16/2013 4:06:28 AM (No. 9119218)
Shipping US jobs to China and elsewhere is called Redistribution of Wealth.
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Posted By: Desert Fox- 5/19/2013 8:23:06 AM
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It´s often been said the Internal Revenue Service is the most feared bureaucracy in the United States. Little wonder. As the agency openly proclaims on their own website, concerning what actions they might take if your taxes are unpaid: We could seize and sell property that you hold (such as your car, boat, or house), or we could levy property that is yours but is held by someone else (such as your wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions).
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The scandal eruption currently surrounding the Obama regime was inevitable. The only question was when and what would finally break through the wall erected around the White House by the media. It has long been obvious to conservatives in America that Barack Obama and his fellow travelers are devoid of any honor or integrity and have been immersed in not only socialist/ Marxist philosophy but the belief that they are preordained to govern the masses. Therefore there is but one enemy -- their political opposition, who must be defeated at any cost and by any means possible, ethical or otherwise.
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Posted By: Desert Fox- 5/19/2013 8:08:16 AM
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In the days before the 1905 Russian Revolution, there was great discontent with the Tsar´s dictatorship. The revolution was a "wave of mass political and social unrest that spread through vast areas of the Russian Empire. Some of it was directed against the government, while some was undirected. It included terrorism, worker strikes, peasant unrest, and military mutinies." These cataclysmic changes evoked a number of reactions. Isaac Leib Peretz, one of the luminaries of Yiddish literature, wrote a small essay entitled "Hope and Fear," wherein he asserted the following. I worry. As victors.
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Posted By: Desert Fox- 5/18/2013 10:39:03 PM
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Michelle Obama on Friday urged black youth to stay in school instead of dropping out to become a "baller or a rapper." The first lady, speaking to graduates at Bowie State University, a historically black college, criticized the worship of sports stars and celebrities. "Today, instead of walking miles every day to school, they’re sitting on couches for hours playing video games, watching TV," she said of black youth. "Instead of dreaming of being a teacher or a lawyer or a business leader, they’re fantasizing about being a baller or a rapper."
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Posted By: Desert Fox- 5/18/2013 10:18:30 PM
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Reuters, by Leigh Thomas
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Posted By: Desert Fox- 5/18/2013 9:53:43 PM
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More than 8,000 French households´ tax bills topped 100 percent of their income last year, the business newspaper Les Echos reported on Saturday, citing Finance Ministry data. The newspaper said that the exceptionally high level of taxation was due to a one-off levy last year on 2011 incomes for households with assets of more than 1.3 million euros ($1.67 million). President Francois Hollande´s Socialist government imposed the tax surcharge last year, shortly after taking office, to offset the impact of a rebate scheme created by its conservative predecessor to cap an individual´s overall taxation at 50 percent of income.
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Thirty-six weeks. That´s the average time an unemployed American is out of work in the Obama-led economy, according to the latest government data. For anyone who has been jobless for an extended duration of time, nine months seems like an eternity. But, nine months is the norm in the Obama economy. The latest data from the Department of Labor show the nation´s unemployment rate stands at 7.5%. The Obama Administration and Obama backers are quick to point out that this rate is the lowest of his presidency. However, the deeper we dig into the state of the unemployed under Obama,
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Evidence emerges that Obama
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Posted By: earlybird- 5/18/2013 9:01:39 PM
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WASHINGTON - There were new questions Saturday night concerning if anyone in the White House was aware of the IRS´ targeting of conservative groups. Inspector General Russell George said he informed a deputy at the Treasury Department in June of 2012 about the probe into the IRS. The Treasury Department confirmed the timeline but said they did not know the details of the investigation until last week.(Snip)Marcus Owens ran the tax-exempt division at the IRS for 10 years. He said it isn´t difficult to figure out who´s doing what at the agency.
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In the wake of one of the worst abuses of government power in recent history, many are rushing to frame the Internal Revenue Service scandal as simply an attack on conservative activists. That view risks creating a partisan political football and misses a fundamentally scarier abuse that exceeds the scandals of Watergate or any other prior government abuse. The IRS has admitted that since May 2010 it targeted grassroots-conservative organizations that had applied for tax-exempt status, unfairly subjecting them to rigorous scrutiny due to their political leanings. Such groups were told they were required to comply with IRS requests,
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Posted By: DW626- 5/18/2013 6:12:33 PM
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Washington – Sen. Claire McCaskill, D-MO, issued a video statement Friday in response to reports that the Internal Revenue Service unfairly targeted conservative nonprofit groups. (Snip) “There’s a reason Lady Justice wears a blindfold in America. That is because in America, we don’t apply the law based on who you are, who you know, or what you believe. We apply the law equally.” “We should not only fire the head of the IRS, which has occurred, but we’ve got to go down the line and find every single person who had anything to do with this and make sure
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The Internal Revenue Service´s watchdog told top Treasury officials around June 2012 he was investigating allegations the tax agency had targeted conservative groups, for the first time indicating that Obama administration officials were aware of the explosive matter in the midst of the president´s re-election campaign. The disclosure to the Treasury general counsel and the deputy secretary was a cursory one, according to J. Russell George, the Treasury inspector general for tax administration. He said he didn´t reveal conclusions of the probe, which was in its early stages, and his disclosure came as part
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It began in earnest last Friday. A flash mob of latte drinking, tofu eating media that has done its best to quell, rather than fan the flames of truth, turned on one of their own. Jay Carney lay bludgeoned at the base of the podium, a victim of friendly fire. Ironically, the attack was reminiscent of the one in Benghazi he has repeatedly denied the Administration he represents bears any responsibility for. “Changed twelve times?!” came the cries. And with good reason. We were misled; no, lied to.
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