This is ridiculously stupid. One of the most important problems with all kinds of welfare programs is the benefits cliff. Where a marginal improvement in the employment status of a person leads to a massive reduction in benefits. (1/n)
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This law, if it ever sees the light of day, will ruin the lives of countless people by creating an employment cliff. Where your eligibility for benefits ruins your employment prospects. So instead of discouraging work finding by means of a benefits cliff, (2/n)
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You will discourage people from being hired because they use benefits. Also no company will be able to predict what their labour costs are going to be which will probably be a big driver of automation (3/n).
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If the increase in costs for the company ever comes to be, there will be impacts on the share price of these companies. (4/n).
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Before we dismiss this as something that only effects the very wealthy, let's remember that some of the largest shareholders in the US happen to be public sector pension plans. (5/n)
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So all the teachers firefighters, cops and others can say goodbye to any hopes of retiring. (6/n)
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There's always the greeter jobs at Walmart I guess.
End of conversation
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