3) Retirees are a major voting bloc nationally, and many are under financial stress. Additionally, for many of them, spending the direct tax cut, which will lead to Job creation, without question, will be a patriotic duty. There are more reasons. However, listing all of them would make this article too long. What is clear, it is time to choose a proven successful economic path for our nation, that works for ALL of US, and is based on the TRUTH, regarding “our REAL unemployment rates.” Capisce.
We need Mr. Biden to accept the path, of aligning his administration with economists; acknowledge, and declare the REAL, and (truthful) national unemployment rate, of 6.6% for April. He needs no additional authority to do this. Taking this action will start, an honest, and needed conversation, about a plan to grow our economy, and new Jobs as we did, during the Covid 19 Downturn. Long-term growth and Job Creation is indeed not only possible but doable.
The age group, beginning at 55 plus years, are currently responsible for approximately 40% of consumer spending in our economy. Baby Boomers are the largest homogeneous population, within that group of consumers, and would be the logical and, idea tax cut recipients. They too will use and spend the money, based on their statistical track record of spending as indicated, by their spending rate, above. But to get to this point, we need politicians like Senator Elizabeth Warren to support accurate Jobless rate numbers. Clearly, the prosperity of this nation is wrapped up in her efforts to get at the truth. And when having found the truth, we need her to stand up and support the truth, with the same vigor, she admonished the Federal Reserve.
They want them “mean tested,” and work requirements applied. In objecting to Families with Children, as recipients; are Republicans, and Senator Manchin, also objecting to the confirmed principle, of consumer spending, as a means to grow back lost jobs, and pull us out of this Downturn? Even “a college graduate,” can understand this, if you give a tax cut to the 70% (the consumer), who is powering your economy, you are going to get a burst of growth, and job creation through “NEW” spending, by the 70% (the consumer), who is powering, and growing your economy, as the Tax Cut to Families with Children showed us, from July to December in 2021.