With last week’s disastrous jobs report, where the U.S. economy fell 700,000 jobs short of expectations in the middle of what is supposed to be a major recovery, the excuses for why that happened have been out in force. One of them was to blame normal Americans for not getting vaccinated quickly enough. You see, when the government screws up, stomping on the little guy and saying it’s their fault is a go-to move.
Of course, the real reason that an economy with millions of job openings doesn’t have a hiring boom is that Joe Biden and his party decided it’d make more sense to pay people to sit at home. In some states, you can make over $40,000 a year tax-free right now by getting unemployment benefits enhanced by COVID relief legislation. Why would anyone go wait tables when they can watch Netflix all day until at least September and make the same amount of money?
Despite that obvious reality, the media needed a new narrative to push that didn’t involve blaming Biden, thus, we got this scorching hot take from MSNBC’s Stephanie Ruhle.
Why is it – that the unemployment benefits are too generous rather than the pay offered by employers too low?
Pay more $ = find more workers
If margins are so thin, that you cannot increase pay without passing it through/losing customers = your biz model doesn’t work https://t.co/OODyU8smSH
— Stephanie Ruhle (@SRuhle) May 10, 2021
Behold, the economic literacy of your supposed betters. As an aside, Ruhle is the same nut who lost her mind on Gov. Jim Justice recently over a bill to keep biological boys from dominating girl’s sports.
Anyway, let’s talk about how little sense this makes. According to Ruhle, businesses should just substantially “pay more” than an artificially created government hand-out in order to entice people to chose work over staying home. She then asserts that if you can’t do that, then your business model doesn’t work. In short, Ruhle believes that many small businesses around the country that rely on part-time and low-income work should simply shutter and close down because they can’t compete with the profit margins of major corporations.
Now, think about what that would do to the economy. Supply would further restrict in regards to goods and services. Then, once the unemployment benefits stop in September, there will be no jobs for those people to go back to. That will lead to more unemployment and higher inflation, crushing the poor and middle class in the country. Is that what Ruhle wants?
Further, Ruhle’s characterization is nonsense anyway. Many businesses are, in fact, offering bonuses, $15+/hr to start, and other benefits to get people back to work. Yet, when a blue-collar worker is told they can make $35,000-$40,000 a year to do nothing, making $45,000 a year to work five days a week suddenly isn’t very enticing. Businesses simply can’t compete in this environment.
Ruhle ended up getting dragged for her idiocy.
— Stephen L. Miller (@redsteeze) May 10, 2021
I love the social darwinism justifying government intervention. *Yes, this govt intervention hurts small businesses, but they should just have larger margins–like the Comcast Corporation does.* https://t.co/gA5afeSkKw
— Tim Carney (@TPCarney) May 10, 2021
Our media are populated with the dumbest of people. These are cocktail-sipping, out-of-touch elites who wouldn’t have the first clue how to run a business. They have no idea of the struggles small businesses go through, and they could not care less that their economic pronouncements are going to actually hurt the poor and middle class more in the end. There is no free lunch. Inflation is already out of control. The government needs to step back, and people like Ruhle need to realize they have no idea what they are talking about.