Tag Archives: jobless benefits

Bush Tax Cuts: Party like its 2001-2003

By Andrew Busch | Published: December 7, 2010

Last night, President Barack Obama announced the following potential deal with Republicans and released this information:

Extending the Bush Income-Tax Rates for Two Years. The potential deal includes a mutually agreed upon solution to the impasse over taxes by extending the Bush income tax rates for two years and reforming the AMT to ensure that an additional 21 million households will not be hit with a tax increase. These measures will provide relief to more than 100 million middle-class families and prevent a tax increase of over $2,000 for the typical family.
Additional Provisions Designed to Promote Vigorous Economic Growth. … …READ MORE

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99ers vs 26ers

By Andrew Busch | Published: August 30, 2010

Today, the WSJ carries an editorial from Harvard economics Professor Robert Barro entitled, “The Folly of Subsidizing Unemployment.” It explores a theory I subscribe to (and have been writing about for months) that the unemployment rate is higher than it should be due to the extension of jobless benefits from 26 weeks to 99 weeks.

Barro’s argument is the same one used in the 1990s that led to welfare reform in the United States. “The loss in efficiency results partly because the program subsidizes unemployment, causing insufficient job-search, job-acceptance and levels of employment. A further inefficiency concerns the distortions from … …READ MORE

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Politics and Unemployment

By Andrew Busch | Published: March 5, 2010

Jobs are clearly on the minds of those in Washington, D.C. The Temporary Extension Act of 2010 allows for another 14 weeks of jobless benefits to be extended to those out of work which would cost a CBO estimated $8.6 billion.

By now, most of the United States is familiar with the Jim Bunning story and how he held up a vote on jobless benefits. Bunning was pilloried by Democrats and the Huffington post for stalling funds from going to help unemployed people. But did it? The Chicago Tribune carries an interesting story that asks due, “Longer jobless benefits cause … …READ MORE

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