Obama has proposed a new "wage insurance" program which would require tax payers to subsidize the income of individuals whose jobs have been eliminated and who take a new job with a lower salary.
The administration claims Obama's economy has been producing low wage, low skill jobs, leaving many skilled individuals without hope.
Many American's have seen there jobs eliminated due to bad trade deals, imports, and unrestricted immigration.
According to WND experienced workers "on average lose 10 percent when they lose their jobs. Workers with more than 20 years experience may see a 25 percent pay decrease.
The program would replace half the lost income up to...
$10,000. It would be available to workers who were with their last job for at least three years and currently make less than $50,000.
$10,000. It would be available to workers who were with their last job for at least three years and currently make less than $50,000.
"Wage Insurance" will be a part of Obama's new budget proposal to Congress in February.
The question however must be asked. Don't programs like these which extend government assistance to workers create more government dependency?
Not does this program create government dependency for American workers but it is also a crony capitalist corporate handout to corporations who will be able to use the program to reduce the amount they offer their new employees, knowing the government will cover the shortfall.
WalMart for example, which reports profits of $130 billion per year can post high earnings because many of their employees are paid so little that they qualify for food stamps -money they use that WalMart doesn't have to pay them.
As always, people taking advantage of government programs like these is one of the major downfall's for the American economy, as well as for the individual who learns to become dependent on the government rather than their own self discipline, work ethic, and ambition.
It also ignores the effects of unrestricted immigration on the American economy -where American's haven't seen their quality of life increase on average since 1973.
