DISQUS

Bank News, Bank Deals, My Bank Tracker: A Much Needed Break: Senate Extends Lifeline for the Jobless, Tax Credit for Home Buyers

  • michaelLV · 2 weeks ago
    Its great that Washington ins finally getting the idea that regular Americans need help, but simply expanding the unemployment benefit time line is not going to solve anything. America needs jobs, and it is kind of hard to see that the Democrats in power get that. The winners in 2010 and 2012 are going to be which ever party realizes that real America is being strangled to death by the ideological struggle that consumes Washington DC but is unknown anywhere else in the country.
    Take the estate tax as an example. The right hates it because it destroys small businesses, destroys jobs, and takes wealth away from the individuals who have worked hard for it. The left likes it because the idea of the tax was to redistribute wealth to prevent the creation of an American aristocracy. The net effect however, has been to squash small businesses and line the pockets of the large insurance companies.
    To see that I mean you can visit

    http://estatetaxtruth.org/

    The fact is that real America feels the results, and does not get hung up in the esoteric philosophical concerns that fuel the partisan divide in DC.
  • Momof2WifeofaVet · 2 weeks ago
    Enjoy collecting 99 weeks of benefits? Enjoy? Are you serious? I'll be one of the UNlucky ones to collect for 99 weeks and there hasn't been an ounce enjoyment in it. You obviously have no idea what it's like to be an educated and skilled individual that travels across 4 states, regularly, looking for work only to be told I'm over qualified. You have no idea what it's like to have borrowed so much money from so many people just to make only to have them hate to see you coming. You have no idea what it's like to be on your last roll of toilet paper and there's no money in site or the future. I suppose you've always had a job or come from a family with money. If so, good for you. That's wonderful. I wish I could be so lucky. But don't assume that we unfortunate folks that HAVE to collect the unemployment we've EARNED enjoy it. Getting unemployment is no joy. It's only a fraction of what I used to make and believe me, I've cut down to the bone. I'm tired of merely existing. I'm ready to live again, but there are no jobs to be had! We've had to beg and borrow and our very own government, the ones we, correction, you elected (I'm a Democrat) held it up for weeks with unrelated crap. If you're not a Republican, forgive my assumption, but can you see my frustration? Our elected officials that are supposed to have American citizens' best interest at heart are full of @#$!. They put their selfish interests before the needs of the American worker and for what? A home-buyer tax credit? A business tax break? That's all well and good, but neither have anything to do with the DIRE needs of the unemployed. Enjoyment? Not at all. It's called survival.
  • Len Penzo · 2 weeks ago
    This is bad legislation. Extending unemployment benefits to 99 weeks actually encourages many people to not look for jobs. Come on now. That's almost two whole years to find a job. California pays the equivalent of about $12 per hour for unemployment benefits. Why would somebody take a job stacking boxes for 40 hrs per week at $15 per hour when they can stay at home, or go to the beach, or go skiing and make $12 per hour? The opportunity cost of staying home is worth it for a lot of people.

    I wrote about the folly of this bill in late October in my article entitled It's Time Unemployed People Start Working for Free. Here is the link:

    http://lenpenzo.com/blog/id793-its-time-unemplo...

    Best,
    Len
    Len Penzo dot Com
  • SharB · 2 weeks ago
    I'm not sure where you got your statistics, but CA unemployment benefits are NOT the equivalent of $12 per hour!! The cost of living in CA is high, the minimum wage is $8.00 an hour, but the average benefits are $300 per week, which is $7.50 per hour. If you adjust for taxes withheld, I could see saying it was the equivalent of $9.00 per hour. Either way, it's really not beneficial to be on unemployment rather than working with health benefits, pension plans, etc.
  • notsofunemployed · 2 weeks ago
    len penzo is an inconsiderate bully and should look at the big picture before speaking out on things not just the picture that len penzos immature friends paint for len penzo unemployment system hasn't changed at all ,only people who qualify can recieve benefits its not a system you can simply choose to be on.
  • kevinfd · 2 weeks ago
    Len Penzo needs realize that this bill while helping the hundreds of thousands of unemployed who have exhausted benefits will also keep the power, water, mortgage companys from taking losses, boost retail sales this holiday season, keep crime down and keep the homeless rate down. Len Penzo needs to realize that having a blog, a job, or even a senate seat doesn't mean you know what you're talking about. Len Penzo needs to thank others in goverment for allowing companys to sell off a large percentage of our jobs years ago. Len Penzo needs to step out in the real world and realize there is no "stacking boxes" job that pays $15/hr. And that most states don't pay $12/hr UE benefits.

    Len Penzo by all accounts, should drink a big glass of STFU.
  • Len Penzo · 2 weeks ago
    @Shar: To be exact the maximum benefits are the equivalent of $11.88 per hour. The fact that the benefits are taxed is irrelevant, since all wages are taxed.

    @Kevinfd: Len Penzo says he's all out of STFU, but try to have a nice day anyway.