“If you want more of something, subsidize it; if you want less of something, tax it.” – Ronald Reagan
We all probably know someone who is receiving that extra $600 per month unemployment bonus and does not want to return to work yet. With businesses reopening nationwide, we are about to run into a lot of pushback from the unemployed to return to work, not because of health reasons, but because remaining unemployed gets them more taxpayer or printed money.
In the Senate, Majority Leader Mitch McConnell is pushing back against extending the unemployment benefits and he is right in doing so. The earlier we can end the benefits and push people into going back to work, the better it will be for conservatives in general in the election and the better the nation will be economically. While I admittedly consider McConnell to be a large part of the problem in Washington and hold him to be more interested in maintaining the status quo than any real governmental reform, he is right here. With the lack of surges outside limited locales on the coronavirus front, there is less and less reason for businesses to remain closed. Too many people are hurting, and too many small businesses are unable to tread water any longer. They need to get reopened and back to work so people can feed their families.
And, as we have seen in massive display over the last few months, from unemployment to backdoor bailouts, we will continue to get more of the taxpayer-subsidized poor economic decisions that will make this whole situation worse rather than better.