Romney: Workers Should Pay Their Own Unemployment Benefits

[meegbear]

Source: TalkingPointsMemo.com

Mitt Romney has a solution to America's unemployment problems. Rather than giving Americans government help when they lose their jobs (help which he says will keep them unemployed), Romney suggests workers pay for their own unemployment insurance. The government, on the other hand, should spend its money spurring companies into making new jobs.

As part of a sharply-worded attack on the Bush tax cut extension compromise published in today's USA Today, Romney states his case that the extended unemployment insurance contained in the compromise will keep those out of work from looking for new jobs. In its place, Romney suggests "individual unemployment savings accounts over which employees would exercise direct control when they lose their jobs."

Romney doesn't detail how the plan would work, but suggests something similar to, say, a health savings account, which employees pay into with their own money and can then draw from tax free when faced with medical costs. Personalized savings account aren't the only solution Romney offers to solve the unemployment mess.

The other option, he writes, is "putting in place financial incentives for employers to hire and train the long-term unemployed." Again, Romney doesn't offer details, but the phrase suggests government spending aimed at companies.

Read more: http://tpmdc.talkingpointsmemo.com/2010/12/romney-slams-tax-cut-compromise-concept-of-unemployment-benefits.php?ref=fpa

---

So, to summarize: Romney's plan to fix unemployment includes workers spending their own money and the government sending checks to companies.

[xchrom]

1. lol -- kinda like romney care we all have now.

how long before certain democrats claim this for their own and move on it?

[MNBrewer]

2. and if they have no bread, should eat cake, instead.

[valerief]

31. +666 trillion! nt

[christx30]

44. Duh

And instead of eating, people's bodies should manufacture their own food. Plants can do it. Why can't people? See? Make people help themselves. Instead of people getting help from other places, they should do it themselves.
just in case <puts on flame proof suit and holds up the :sarcasm: sign as a shield>

[KT2000]

3. tax increase! tax increase!

how could he raise taxes at a time like this?

[HuckleB]

8. He is going to compensate by dropping the unemployment taxes paid by employers.

The fact that most employers tell their employers that this tax is a part of their compensation package will not matter. The money will go into the employer's profits, and the new tax will come out of the employee's wages. No increase in wages will occur, of course.

[KT2000]

41. In GOP world -

they would call it a tax increase if it was not their idea.
People would see it as a tax increase when it comes out of their own pocket - and it would show up on their checks.
Anyway - that is how I am going to call it - just another GOP tax increase, just like deregualtion is really cost shifting. We get to pay medical and funeral expenses and corporations get to peddle unregulated poisonous products, air, water and food.

[KeepItReal]

4. He thinks they should live off the land hunting small varmits, also I bet

eom

[safeinOhio]

5. How about a tax

on every job outsourced? Ending the tax breaks on foreign investments? Nope the Chamber of Commerce would have a shit fit.

[arcane1]

6. "spend its money spurring companies into making new jobs"

Doesn't sound very free market to me!

[Angry Dragon]

7. Idiot

[creon]

9. drivel

Typical empty headed GOP boiler plate

[Cosmocat]

10. which half the nitwits in this country and "liberal media" ...

will lap up ...

[Gormy Cuss]

11. This from a man who thought it was a good idea to put a dog on the car roof for a family trip.n/t

[HughBeaumont]

12. Obama just has NO chance against this guy in 2012, let me tell you.

Look, as disappointing as Obama is, COME on. Has-Beens, Never-Weres, Lunatics, guys who say shit like this and . . . the Alaskan Half-baked Reality Star (who, mind you, will not have been politically active for nearly 3 years come 2012) is what they're throwing at him.

It's really not enough to say "Obama sucks, he's losing 2012, no questions asked!" - where is a candidate that's 100% strong enough on the Greed Oil Piglet side to win fence-sitters, independents and moderate conservatives? Who will be the candidate that inspires voter confidence in this Republican party; I'm talking enough to make them forget what happened in 2000-2008? Where's the name brand? Where's the ace-in-the-hole?

Sorry. Not seeing one.

Keep talking, Mitt. Comments like that will surely win you hearts and minds. You know, because no one will bite you in the ass with THAT one later on.

[Amonester]

21. Never mis-estimate the idiocy of the easily fooled who did vote for bush

TWICE

And don't mis-estimate the huge number of those who will no-doubt NOT campaign, nor vote, for Obama ever again (because he never stops scolding them, while lauding the republikkkans he loves so much).

[abelenkpe]

23. You are right

If it was Mitt or Sarah Obama would win easily despite insulting many in his base.

Thought republicans were going with Jeb though, no?

[stopbush]

13. Unemployment "savings" will never do the trick and will hurt the poor.

First off, the dynamic behind any kind of insurance is the premise that not everyone who pays into the insurance will ever draw a dime in benefits. Unemployment insurance is no different. The best one can hope for is steady employment so that one never has to rely on UI. But if one does, then the simple fact is that it takes the contributions of those who are still employed to fund benefits for those out of work. The longer one is out of work the less their own contributions are funding the checks they're receiving.

Of course, the people who would carry such "insurance" would be those who can afford it to begin with. A lower wage earner will prefer having that cash every week and will pass on investing in such a program just as surely as many pass on employer-provided health insurance because they can't afford it.

And, of course, a savings account is something that can be cashed out at some point. That's not true of insurance where the premiums one pays are gone unless one has to use the insurance to cover a claim. So rather than building a long-term trust fund that benefits future generations, Romney's plan is just more of the every-man-for-himself shit that Reagan started back in the 80s.

[Lochloosa]

14. So is he going to REQUIRE everyone to buy insurance. I thought that was unconstitutional.

[texshelters]

15. It's never been so evident that Republicans hate Americans

at least 98% of them.

Here's what Boehner really wants: http://texshelters.wordpress.com/2010/12/03/memo-from-the-desk-of-john-boehner-a-sheltersleaks-production/

Thanks for posting more truth!

And by the way, we pay for unemployment through taxes.

Peace,
Tex Shelters

[Luciferous]

16. What a fucking moron. Correct me if I'm wrong, but don't they already pay

for it when they pay TAXES?!

[glinda]

18. naw we pay for the rich with our taxes

[Abq_Sarah]

30. Generally speaking

Unemployment insurance is paid for by businesses via a tax at the federal and state level. The fed taxes aren't so bad but the state taxes can be a killer, depending on where you're doing business.

[cbdo2007]

17. Really this sounds like a stupid idea....until Obama announces this as his plan in 2012.

Then we'll all be behind him acting like he's brilliant.

[golddigger]

20. Hehe.

[tomg]

19. Of course he "doesn't offer details"

because it is not about really setting up a program ( no matter how totally insane the proposal is). It is about completely and totally dismantling any kind of safety net for workers.

[CLANG]

22. Romney's just another hairdo...

[bluesmail]

24. I was under the erroneous impression that it WAS the employees paying

for their unemployment. I thought employers always passed on the 'fees' to their employees. :shrug:

[naaman fletcher]

28. It is,

what Romney is saying is that if the money went into an account that they controlled, then they would be less likely to dick around on unemployment as it would be costing them directly. It's not really a bad idea IF in fact people dick around on enemployment, over which there is considerable disagreement.

[Warren Stupidity]

34. uh no - then it would not be an insurance program - a pooled resource

instead it would be a savings account, and one that would not even begin to tide you over while laid off in a major recession. It is a fucking stupid idea.

edit: plus FUTA is in fact an employer tax. So mittens is raising taxes on workers and substituting a shitty mandated savings account for an actual insurance program.

[Tx4obama]

33. Maybe Romney doesn't know that folks already are paying. n/t

:shrug:

[calimary]

54. As my husband just said - "hey! Let's make it a deduction out of every paycheck.

And then, let's call it - FICA!"

Just another attempt to get around making employERS share the load. :crazy: :silly: :crazy: :silly: :crazy: :silly: :crazy: :silly: :crazy: :silly: :crazy: :silly: :crazy: :silly:

[abelenkpe]

25. Your summary is perfect. :) nt

[meegbear]

26. I can't take credit for that ...

that is actually the 5th paragraph from the article. It does sum it up nicely.

[FSogol]

27. Romney, "Let them eat tax cuts!" n/t

[harun]

53. lol

[onethatcares]

29. ain't nothing like living on 1/4 of what you're used to.

of course he probably has an insurance company he'd reccomend too.

[valerief]

32. Wealthy people should pay for their own tax breaks, too. nt

[gmoney]

35. He doesn't understand how insurance works, does he?

The idea of insurance, Mittens, is that a pool of money is created where everyone chips in a relatively small amount, and then every so often, someone who has a need receives a larger amount, as agreed upon.

Perhaps his idea is a privatized unemployment insurance operation, where everyone chips in a larger amount than they do now, and the executives use that money to play the market and give themselves big bonuses, and if someone has a need for covered payments, deny the claim and/or make it nearly impossible to collect. Then, when the executives fuck up, go pleading to the government for a bail-out because the company is "too big to fail."

Sound about right, Mittens? Fuck you.

[PurityOfEssence]

36. Born rich, and knows how the world works.

Pretty Boy Droid.

[MikeW]

37. nice that he offered no details on hwo it would work lol

Romeny old boy .. the people dont have any more money to chop up and give to someone else.

Game over ... the well's dry.

[customerserviceguy]

38. It's not the world's worst idea

Imagine having an unemployment account, funded with pre-tax dollars, that you could draw out of tax-free when you're out of work. And then compare that to fully-taxable unemployment benefits that we have now, for which some workers are paying into with their own contributions that are paid for with after-tax dollars.

It's no worse than the Health Savings Account that I set up this year, the only difference is the purpose.

[hankthecrank]

39. this from the guy who put his dog on roof of his car

[Johnny Harpo]

40. Spoken Like A True Millionaire...And To Think...

this guy is probably the best of the lot.

[quakerboy]

42. How long will it be till our Democratic leadership

Co-opts this plan?

[katnapped]

55. (checks watch)

Not long...not long at all...

[freethought]

43. How many people did he put out of work

when he was a corporate raider?

Typical repub. To them you're not worth a damned unless your obsessed with becoming rich.

[killbotfactory]

45. I'm sure companies will adjust wages upward to reflect their lower tax burden

GIGANTIC MOTHERFUCKING ROLLEYES

[struggle4progress]

46. Coming up next: a preview of Romney's new book, "Recipes for the Unemployed"

We'll show you how to make Stray Dog Tacos, Roadkill Casserole, and other tasty dishes

After these important messages ...

[WestSeattle2]

47. So let me get this straight. We would be responsible for funding

our own unemployment insurance, on top of saving for our pensions,paying our own health insurance premiums and buying $3.25/gallon gasoline; while at the same time our Social Security and Medicare benefits are being cut, college tuition is going through the roof, our house values are plummeting through the basement, and our wages are stagnant?

Makes perfect sense.

What world do these people live in? I mean seriously! Every time they open their mouth, they show the world how utterly ignorant they are of reality in middle and lower class America. The verbal equivalent to George H.W. Bush and the grocery store check-out scanner.

Pull your head out Romney. Stick to combing your hair and performing political flip-flops.

[sakabatou]

48. *facebludgeon*

[hamsterjill]

49. Silver Spoon

It's real easy for people like Romney to spout this shit when they've never had to worry about anything financial their entire lives. Most Americans aren't that lucky, Mitt!

[Godhumor]

50. So...this does nothing for the currently unemployed?

Only those who currently have jobs would pay into these savings accounts. What about those who are currently unemployed? My guess is he thinks ending their benefits will be "motivation" to find a new job.

[truthisfreedom]

51. Naturally, leave it to a rethug to offer an idea that has no relevance to our current situation.

It's a solution to a problem we're not facing.

[alp227]

52. and this guy wants to be president?

Play this over and over again in campaign ads. Let him suffer under the wrath of his own stupidity. BTW, dude, why don't you tell the Republicans to pay for their OWN wars and pet projects etc?

[KamaAina]

56. And what happens to the "individual unemployment savings accounts" when the market tanks?

which, presumably, would be just when most people would need them.

Mitt's an empty suit who puts me in mind of the famous description of Tom Dewey as "looking too much like the groom on a wedding cake".