>>I don’t know why I’ve had to correct dozens of people on this on here, but people need to realize that this is only 26-99 weeks.<<
Because there is no stopping it. What guarantee do you have from a government that wants ANOTHER stimulus package after stating that the first one is the end all be all, that it won’t be extended again?
So the question is, how long should be extend it? How about 5000 weeks?
Unemployment funds come out of business taxes. Unemployment taxes are assessed on number of full time employees times a rate based on the business types turnover.
In some states and for some jobs the tax rate is over $1000 per month. And if we extend more unemployment benefits, the rates will go higher yet.
Businesses will think long and hard before they hire anyone when the next new hire costs them that kind of coin.
Getting a tier 5 to go past 99 weeks is not likely to happen. Paying for tier 4 which is up to 99 is all that this does. It’s a stupid way of doing it, but if the economy suddenly turns around then they can just defund it easily. Playing games when the economy isn’t turning around is cruel and stupid politically.
As that chart shows, recessions end and the benefits decline. That’s how it always is. The Republicans extended it last time until 04 or so, which was when things got better after 9/11. That is certainly prudent to do here as well.