Mnuchin on $600 unemployment benefit: We can't be 'paying people more to stay home'

[mystery-ak]

Mnuchin on $600 unemployment benefit: We can't be 'paying people more to stay home'
By John Bowden - 08/02/20 09:57 AM EDT


Treasury Secretary Steven Mnuchin on Sunday threw cold water on the prospect of extending $600 unemployment benefits for Americans for the duration of the COVID-19 pandemic.

In an interview with ABC's "This Week," Mnuchin suggested that the payments, which expired last week, led to some out-of-work Americans being "overpaid" and indicated that he believed they were slowing the return of workers to the labor market.


"Unemployment is supposed to be wage replacement, so it should be tied to some percentage of wages," he said. "The fact that we had a flat number was only an issue of an emergency where we had 30-year-old computer systems."

"I think, on the concept we absolutely agree on enhanced unemployment," Mnuchin continued. "We want to fix the issue where in some cases people are overpaid, and we want to make sure there's the right incentive [to get back to work.]"

more
https://thehill.com/homenews/sunday-talk-shows/510172-mnuchin-on-600-unemployment-benefit-we-cant-be-paying-people-more

[cato potatoe]

I just don't understand why a flat $600 is the magic number.  This exceeds most service industry wages.  Even the dumbest liberals must understand the concept of moral hazard.

[sneakypete]

I am watching this on tv now,and Mnuchin is knocking it out of the park. Dims must be stroking out all over America.

[Hoodat]

Mnuchin on $600 unemployment benefit: We can't be 'paying people more to stay home'

We're paying them $600 to riot in Portland every day instead of having to show up for an actual job.  And without this new infusion of money, the Democrat Party would be broke.  Now they'll be able to count on new donations through November.

[FeelNoPain]

I just don't understand why a flat $600 is the magic number.  This exceeds most service industry wages.  Even the dumbest liberals must understand the concept of moral hazard.

  I was wondering about that, too. I wonder if it is a preemptive way to get people conditioned to nationwide $15 dollar minimum wage (40 x 15 = $600) now that the precedent has been set.