Wednesday, January 15, 2014

Reduced Benefits

I read an article about the approaching cut in unemployment benefits. 1.3 million Americans have already been cut from the program and an additional 3.6 million Americans may also have their unemployment benefits cut. The long-term unemployment rate is at 2.6%, which is twice what it has been when long-term unemployment benefits have been cut in the past.

There is no reason why we can't extend unemployment benefits. From an economic standpoint, for every dollar we invest in unemployment benefits, one-and-a-half dollars is added to the GDP. But more importantly, from a moral standpoint, how is it ever okay to stop supporting people who are in need? Even if there are those who abuse the system, there still isn't a large problem with providing for them too. Lazy people deserve to eat too. There is enough altruistic people in this country that everyone regardless of everything ought to have a basic income. In fact, Switzerland recently passed a living wage; a wage which is entitled to everyone that guarantees low levels of income.

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