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Millions of Americans Quit Their Jobs... BUT


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https://www.marketwatch.com/story/americans-say-theyve-lost-confidence-in-the-economy-but-theyre-spending-like-its-happy-hour-11634659658

Weird... many Americans say they're unhappy about the economy or future prospects, but they are spending more money than ever!

Millions of workers will remain on sidelines until benefits of having a job outweigh the costs, Fed official says

https://www.marketwatch.com/story/millions-of-workers-will-remain-on-sidelines-until-benefits-of-having-a-job-outweigh-the-costs-fed-official-says-11634666482

Why aren’t more people working? The pandemic has exacerbated four key barriers to employment: mismatches, family care, health and incentives, he said. Most Americans out of the labor force are women and those without a college degree. They live in small towns and rural areas, Barkin said. For some, opting out of work is the right decision. “But it is easy to imagine many could be open to working,” he said.

Definitely very strange times. I honestly don't know how people are able to just "not work", and in fact a recent study

https://news.osu.edu/millions-of-working-americans-still-cant-afford-food-and-rent/

Millions of working Americans still can’t afford food and rent

So, overall I'm not sure how people are doing this? Perhaps many of the millions that quit are living with family? Anyone here quit their job during this pandemic? And if so, how are you affording your video games 🤨

i quit dave bautista GIF by WWE

Edited by avatar!
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The article implies people have no income but that's not what it states, it simply states they quit their jobs and doesn't provide the next piece of necessary information.......they're being subsidized by government programs which is why they chose to quit in the first place.

"Most Americans out of the labor force are women and those without a college degree."

There you go, people are making minimum wage, they see how much more they could be making with unemployment and Covid subsidies and they quit. I know people in my community that have done it, it's incredibly common.

Also, if you set up your finances correctly, you don't really need to work for long periods. You could simply not work for 3-6 months and it shouldn't really have any impact on your finances at all, otherwise you are spending too much.

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15 minutes ago, Code Monkey said:

The article implies people have no income but that's not what it states, it simply states they quit their jobs and doesn't provide the next piece of necessary information.......they're being subsidized by government programs which is why they chose to quit in the first place.

"Most Americans out of the labor force are women and those without a college degree."

There you go, people are making minimum wage, they see how much more they could be making with unemployment and Covid subsidies and they quit. I know people in my community that have done it, it's incredibly common.

Also, if you set up your finances correctly, you don't really need to work for long periods. You could simply not work for 3-6 months and it shouldn't really have any impact on your finances at all, otherwise you are spending too much.

I think it's much more than just subsidization, although you may be right, that might be a big part of it. But no one seems to really know... although I have to disagree with you regarding "You could simply not work for 3-6 months and it shouldn't really have any impact on your finances at all". While that would be ideal, most American households have a savings of around $5000 - NOT $50,000 but FIVE THOUSAND. Where I live, that would keep you afloat for about 1.5 months.

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2 minutes ago, avatar! said:

I think it's much more than just subsidization, although you may be right, that might be a big part of it. But no one seems to really know... although I have to disagree with you regarding "You could simply not work for 3-6 months and it shouldn't really have any impact on your finances at all". While that would be ideal, most American households have a savings of around $5000 - NOT $50,000 but FIVE THOUSAND. Where I live, that would keep you afloat for about 1.5 months.

I wrote, "You should." I'm aware most people don't and that's disappointing.

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3 hours ago, Code Monkey said:

 

"Most Americans out of the labor force are women and those without a college degree."

There you go, people are making minimum wage, they see how much more they could be making with unemployment and Covid subsidies and they quit. I know people in my community that have done it, it's incredibly common.

Also, if you set up your finances correctly, you don't really need to work for long periods. You could simply not work for 3-6 months and it shouldn't really have any impact on your finances at all, otherwise you are spending too much.

You don't get paid unemployment when you quit.

Also, those people working minimum wage that you mention, typically work paycheck to paycheck with zero savings and no ability to handle financial disruption.

 

Anyone quitting by choice isn't living off of subsidies.  And anyone with the savings to float for a few months, or more, wasn't working minimum wage.

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14 minutes ago, arch_8ngel said:

You don't get paid unemployment when you quit.

Also, those people working minimum wage that you mention, typically work paycheck to paycheck with zero savings and no ability to handle financial disruption.

 

Anyone quitting by choice isn't living off of subsidies.  And anyone with the savings to float for a few months, or more, wasn't working minimum wage.

I’m neither agreeing or disagreeing here just mentioning that unemployment is only one subsidy one can get when not working. OP also mentioned that most people quitting probably have no real financial responsibility; live at home with family, no loans, none of it. Credit card debt is also increasing again so people could be living off credit. It is also logical to think that the people who quit their jobs are not the ones buying more crap they don’t need. Any news story you can find will also somewhere else have a news story that says the opposite is happening 

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I think part of the problem was, during the Covid lockdown, I had just quit my job in Feb (2020).  At that point I was working every day, as a guitar teacher (public and private) as well as working in an electronics store (I was getting 30 an hour teaching in a school an hour at the store, on top of the 75 an hour private).  I was getting still getting more from unemployment/covid bonus than I was working 7 days a week.  I actually would have lost money if I didn't leave my job in Feb.  Luckily I got a lot saved up now.  

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People are waking up and realizing how badly they’ve been exploited in the US and they’re leaving their poor wage jobs. People can get mad about it but that’s capitalism. Your workers are leaving? You’re not being competitive with their wages and they’re going to employers that are. The market is pushing you out.

So, I haven’t talked about it much on here but I recently had a career change. In between my last career and the one I have now I worked at Target to keep some cash flow going. Target starts at $15 an hour and we had applications coming out of our ears. Truckloads coming in every day and they gathered dust in the manager’s office. Know why? Because corporate told the team leads that if they under-schedule hours they would get bonuses on their paychecks. So instead of hiring enough people (despite people beating down the doors to work) they decided to stretch out a few of us. That way: they can get away with paying less in wages while still having the managers in the store whine to customers about “no one wanting to work anymore.” They get the sympathy and the wages. Sickening, but if you think it’s just Target that did this, it’s many big companies just like them too. It’s disgustingly common. The “worker shortage” is made up, or at least the optic in which they try to frame it is.

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Well not every job deserves $15, 25, 30+ an hour, if they want to get salty doing a job a college or teenage aged person should be doing maybe they need to find a way to do better than continue failing in life.  Otherwise I agree, if the company has crap benefits, pays poor, micromanages you into your first heartattack before 40... GTFO and if they fail, lesson learned.

The thing is the combination of tax refund time in 2020 and 2021, all the raining money down on people where a lot just pocketed it for later or to run some scheme to do exploitation of others pushing this or that had a hand in it.  If you just sat on it and raked in thousands of dollars, free food stamps/card bucks, and other tricks -- not to mention compounding the asinine increase they added and kept renewing for over a year into unemployment and here we are.  When you get paid monthly to sit on your ass and fake looking for work, or not even bothering at that, for over a year...what's the incentive?  (These are fake figures) If they'll pay you $17/hr to sit on your ass, or you go flip burgers for $12-15/hr...gee tough call?  Nope...squat and make bank.

And what's this shit about Americans maybe having on average $5K in the bank?  Damnit...I barely have over 10% of that in a savings acct and that's just so if shit in the fan I can put off defaulting on a mortgage for a month.  Ugh.

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4 hours ago, arch_8ngel said:

You don't get paid unemployment when you quit.

Also, those people working minimum wage that you mention, typically work paycheck to paycheck with zero savings and no ability to handle financial disruption.

 

Anyone quitting by choice isn't living off of subsidies.  And anyone with the savings to float for a few months, or more, wasn't working minimum wage.

They do here! You can quit and get the government CERB benefit which is what a lot of people did.

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2 hours ago, Tanooki said:

Well not every job deserves $15, 25, 30+ an hour, if they want to get salty doing a job a college or teenage aged person should be doing maybe they need to find a way to do better than continue failing in life. 

I would say every job does deserve at least $15/hr. As far as only students working certain jobs do you think those stores should be closed except from 3 or 4-10PM on weekdays?

 

2 hours ago, Tanooki said:

And what's this shit about Americans maybe having on average $5K in the bank?  Damnit...I barely have over 10% of that in a savings acct

According to Code Monkey, you’re spending too much. Simple fix.

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18 minutes ago, Link said:

According to Code Monkey, you’re spending too much. Simple fix.

Yeah, there are TONS of Americans wasting money on stupid shit like FOOD, SHELTER and HEALTHCARE on a daily basis!

Imagine how foolish they would feel if they realised they could save a TON of money by avoiding such trivial spending! 😉

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I believe this country has the means to establish liveable wages in each state that is adjusted for the cost of living so that everyone can afford to put food on their tables, clothes on their back, and a roof over their head. Maybe people won’t be able to afford the luxuries that some other people can and that is normal in society. As long as their is some kind of currency there will always be a class structure. 
 

Trickle down economics has to go, tax the rich, implement an inheritance tax, cut military spending in half, drain the swamp, and charge more than $1 for a god damn double cheeseburger so people can have health insurance.

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1 hour ago, a3quit4s said:

tax the rich, implement an inheritance tax

You know that taxing the rich doesn't work right? I know your intentions are good but that only makes rich people richer and goods more expensive to everyone. I mean, if the richest people in the world are for this crap why they just won't donate or ask for a "voluntary tax" (if that even makes sense) so that they can give money to the government?

 

No, they want all their smaller competitors to go broke.

 

And inheritance taxation? A person pays taxes all his life and when he dies, he has to pay more, because someone thinks he should be distributing his money. And the richest? They hire lawyers to evade the tax. Once again, the richest people don't get a scratch but those just ascending economically get punished.

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53 minutes ago, obnoxious said:

And inheritance taxation? A person pays taxes all his life and when he dies, he has to pay more, because someone thinks he should be distributing his money

You could look at it like this. Or you could look at it as: "Someone who did absolutely nothing for this money and is suddenly being given $2m for the arduous task of being born to a rich parent is being taxed for their lottery winnings" which makes it a slightly different story.

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Fuck that... obnoxious is right.  You're just assuming you got born into money, so yay...take 1/2 of it away because...death.  Nah... you paid tax working, you paid tax buying...you don't need to pay tax dying too that's ridiculous triple taxation.  And he's right, if you are already loaded, you've got the lawyers to use shelters and tax dodges to keep what gets trickled, yet someone like me who may end up get a few 100k in a few years...I am paycheck to paycheck, so it's my job to give half of that shit up and get a crippled benefit from inheriting some money, a piece of property(that's already reverse mortgaged), and some old clothes and junk that'll end up in a landfill, estate sale, and little else.... yeah...nope.

 

I'm fine with a livable wage, but my problem is the system is FUCKED.  Let's just say we make for the sake of argument even the dopiest of jobs worth $15 an hour right now...starting monday.  Ok...then what?  What about all us others who had to earn a bit more on a check each year?  Are we going to nationally see our employers be legally forced by the government to also equally bump our pay too?  Yeah, that's not happening.  Yet you move the pay up for millions of others, who does this cost?  The business owner, the franchisee, whatever...the dude issuing the $.  They're not going to want to lose their asses on that slice.  What does a smart business person do then?   1) Raise prices 2) Fire someone/cut hours/close a location/branch  3) Make other benefit cuts legally allowed or 4) Cut corners and hope for the best

How does this help?  Great a bunch of people just went from $10-12/hr to $15, yay them.  I give it months to a year, the market pushes back, the rich people will do those 4 choices and fuck everyone across the board.  The $15 pay bump will feel like making $10 an hour again if that, and you're stuck.  Then you'll get whiny asshole politicians playing scare games further and bitching to bump it up to $20...wash rinse repeat, because it looks good in an election cycle.

Jacking up peoples paychecks without forcing the hand of those supplying them not to screw everyone unilaterally so protect their margins just creates a stupid vicious cycle that benefits no one.

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5 minutes ago, Khromak said:

"Someone who did absolutely nothing for this money and is suddenly being given $2m for the arduous task of being born to a rich parent is being taxed for their lottery winnings"

If this person's parents took risks, failed, tried again, worked their fingers to the bone to save those $2m, generating value as services or goods to society, so their children wouldn't have to do the same, that means we should take part of it to distribute to other people who also did nothing to earn it? Will we punish people for being successful?

It's theirs, they do what they please with their own money. If you think that this money is not deserved and it's yours, then you should donate, distribute or do whatever.

It's very simplistic and far from reality to call everyone receiving an inheritance "spoiled little brats" but the fact is that the majority of people work very hard and live on a shoestring to save that amount of money. If we start stealing from their kids the right to those savings, they will just spend everything or evade taxation.

TL;DR: doesn't work and when it does, it's unfair.

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22 minutes ago, Tanooki said:

take 1/2 of it away because...death

Government and "politicized" people can't leave others alone even when they DIE. There's a family mourning and they are asking "hey, where's the money, give me the money"....

That's fucking cruel no matter how much money we are talking about, even when you think about the "fat capitalist with a top hat" stereotype.

The curious thing is that people who support this kind of taxation are often those who don't have an inheritance to pass forward. And when they do have, they don't donate 50% because it's undeserved, they ask for laws to enforce it to himself and others. They just don't live by their own words.

Also, when this kind of taxation is implemented and things go wrong, people start pointing fingers at each other and demanding more taxes and lowering the cutoff line, because it's more comfortable than saying "Well, we were wrong... AGAIN. Let's stop doing this.".

Edited by obnoxious
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Yeah I’m not talking about people who inherit $2 million from mom and pop who ran a pizza shop for 40 years. 
 

@Tanooki I’m not sure what happened in your life but it’s a good thing to see others succeed. It should not make you mad and cutting government spending should decrease your tax liability and see you take home more of that money you worked for. 
 

I would never have thought I’d quote Jerry Jones because I hate the cowboys but “It’s time to check I at the door and move forward as we”

Im also not saying there wouldn’t be compromise which is something that has just disappeared from American politics, we’ve become so divided we can’t get out of our own way to help each other anymore. Disgusting really 

Edited by a3quit4s
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Raising the minimum wage would not increase the prices of goods nearly as much as people think, it is a scare tactic sold by corporate America for decades. In fact, by increasing wages, people will have more money to buy goods from these very companies and will boost the economy.

Trickle down economics and tax breaks do not work. The money stays lodged at the top and just makes average Joes have to foot the national tax bill. It makes zero sense why a middle-upper-class person should have to pay siginifcantly more taxes than Amazon or Boeing, which pay ZERO!? 

When people hear "tax the rich," they think we mean "take that small business owner who makes 200k-2m a year's hard work away and give it to the poor." What we're really talking about are the 0.01%. The Jeff Bezos and Koch Brothers of the world. It's hard to fathom how much money they actually have. You could work a full 40 hour work week, 50 weeks a year, at $100/hr, and you still need to work for over 100,000 years to have the same amount of money as Jeff Bezos. Think about that for a second. 

It's not the government social programs, immigration, or a minimum wage which is the issue. You could pay for every social program in America with a droplet of the taxes these companies should be paying. It is corporations lobbying for a lower corporate tax rate, which used to be over 90% in the 1950s, down to in the 30s and 40% range by the time of Ronald Reagan. Then, they eliminate that 30-40% through tax breaks and other incentives by the government. And ever since Citizens United was upheld, making bribing our politicians legal, it will never, ever change. This country is run by big business and no one else. 

That is why we need to tax companies based on their wealth, not what they claim. You can't hide public information like that. Had a "bad year"? Well, make a decision, either admit that to your investors, or pay the damn tax.

Edited by KokiriChild
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Income is taxed. Super rich people have many assets that appreciate in value like stocks that do not get taxed because they never become realized. When you inherit something your basis is fair market value. All of that unrealized gain will never be taxed.

And they were throwing out numbers like after your first $10 M so you are defemding the top percentage of one percent which is irrelevant to you.

Edited by Californication
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1 minute ago, a3quit4s said:

Yeah I’m not talking about people who inherit $2 million from mom and pop who ran a pizza shop for 40 years. 

It doesn't matter where the money came from, considering it's not from a crime.

Pizza shop? Taxes paid
Previous inheritance? Taxes paid
Lottery? Taxes paid

Doesn't matter where the money came from. It's theirs. If there are plenty of ways to donate there's no reason to make laws forcing everyone to do it.

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14 hours ago, Tanooki said:

Well not every job deserves $15, 25, 30+ an hour, if they want to get salty doing a job a college or teenage aged person should be doing maybe they need to find a way to do better than continue failing in life.

I have questions. What is a job a college or teenage aged person should be doing? I wasn't aware certain jobs were geared towards a certain age? Can you elaborate? 

Also, what do you mean by failing in life? For example, if I am 40 and making pizzas every day brings me joy, am I failing in life? I don't really understand what you mean here.

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