Home > Uncategorized > Highest U.S. unemployment rates in history and tomorrow

Highest U.S. unemployment rates in history and tomorrow

  1. April 6, 2020 at 4:10 pm

    Whoa! Almost a third of the people aren’t making anything to expropriate. Things are turning bad for the one percent.

  2. Michael McKay
    April 6, 2020 at 5:56 pm

    The 1% needn’t, haven’t had to, expropriate, while getting free money from the Fed — a parallel economy that has little to do with the 99%. (It’s just entertaining, and proves the elite’s status, taking however much possible from the expendables.) If the 99% were to disappear, the 1% (actually .01%) could just continue making money from money, leveraging into infinity. . . until it stopped. Or until it was no longer fun, having none to look down upon.

    • April 6, 2020 at 10:32 pm

      Interesting. It wouldn’t be much fun having any one to blame for their own troubles. What would acceptable economists do?

    • April 6, 2020 at 10:34 pm

      oops. It wouldn’t be much fun not having any one to blame

      • Steven MCGIFFEN
        April 7, 2020 at 1:17 pm

        Or not having anything to buy.

  3. April 7, 2020 at 8:13 pm

    Tell Congress:

    “It’s critical that the next round of COVID-19 economic response legislation put money where the need is greatest, not pander to pandemic profiteers. We demand that you reject Donald Trump’s proposal of bringing back the corporate entertainment tax deduction and increasing the corporate meals tax deduction from 50% to 100%, both of which benefit corporations, not laid-off workers.” | |

    What’s Donald Trump’s latest “idea” to get the economy moving? Another business tax deduction, of course. And (surprise, surprise), it’s one that would benefit Trump’s family business.

    In 2017, one thing the Trump tax scam actually got right was that it eliminated the corporate “entertainment tax deduction.” This had previously allowed corporations to write-off expenses like country club memberships and luxury skyboxes for concerts and events―which they would use to entertain clients and guests.

    The tax scam also kept the “meals deduction” at 50% (it should have been eliminated), which Congress had correctly reduced from 80% back in 1993.

    Now, in a supposed move to help struggling restaurants and restaurant workers, Trump is suggesting that both corporate tax deductions be reinstated to their former 100% level.[1] But who will this actually help?

    It’s not the out-of-work restaurant worker. And it’s not the shuttered restaurant either. Let’s face it—people are not going to restaurants because taxes are too high. They’re avoiding restaurants to stay alive!

    It’s Donald Trump who will personally benefit. See, Trump owns country clubs and destination resorts with fancy restaurants. The very same kind of businesses where corporations like to wine and dine their clients. In other words, it’s not your favorite neighborhood eatery.

    Sign the petition to Congress to demand that the next COVID-19 stimulus package address the urgent needs of laid-off workers, struggling businesses and healthcare workers. It should not be used as a way for Donald Trump’s family business to benefit off of a global pandemic.

    We’re fighting to demand that the next round of COVID-19 economic response legislation puts money where the need is greatest—in the pockets of laid-off families, better protecting first-responders and delivering food and other services to people who can’t put three square meals a day on their table. It must not pay for tax write-offs for CEOs and wealthy corporations.

    While I’m sure a banking CEO would like to 100% write-off a $1,000 bottle of wine as a “business expense” at a classy restaurant, that’s not going to help struggling workers or help jump start our economy.

    Sign the petition demanding that the next round of COVID-19 legislation put funds where the need is greatest―and that doesn’t include Donald Trump’s pocket!

    Together, it’s up to us to demand an economic and tax response to this pandemic that puts the needs of people first.

    Thank you,

    Frank Clemente Executive Director Americans for Tax Fairness

    [1] “Trump wants Congress to restore full tax deduction for meals, entertainment,” Reuters, March 29, 2020

  4. Ken Zimmerman
    April 21, 2020 at 4:33 pm

    To make any of these good suggestions occur much more than economic changes are required. That more is cultural change. Cultures are constantly changing. They change because of conflict among different elements within them. They change because of contact with outsiders. Population growth, disease, climate change, and natural disaster all impel culture change. However, cultures do not always change at the same speed. Cultural change may happen in small increments, or it may happen in revolutionary bursts. Historically, in most places and at most times, culture change has been a relatively slow process. However, the pace of change has been increasing for the past several hundred years and has become extremely rapid in the past century.

    Since the 16th century, the most important source of culture change has been the development of a world economic system based primarily in the wealthy nations of Europe and Asia. This has involved invasions, revolutions, and epidemic diseases. All revolving around varying forms of capitalism. Of these forms the current dominant version (sometimes called casino capitalism, cowboy capitalism, or more formally neoliberalism) is both the most dynamic and most destabilizing. With great wealth and resources stolen from “colonies” European and American capitalists created the industrial, post-industrial, and information revolutions which lead to the dominance of western Europe and the USA in every aspect of culture but most conspicuously in religion, governance, warfare, and of course economics. This world culture has been collapsing since the end of WWII. First the colonial wars, then several versions of globalization, then new religious wars, new competing empires, oligarchs, and autocrats, climate change, and now endemic instability in nearly every cultural institution. To quote the proverbial pilot in trouble — now that culture is held together with spit and bubble gum. Those who see this coming and hope to direct it to a “soft” landing need to move quickly and smartly to create a workable alternative as quickly as possible. Thus far by and large economists have been “missing in action” on this work. Diplomats, futurists, some corporate leaders, historians, and anthropologists are the ones out front right now.

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.