Trump's Secretary of the Treasury Steven Mnuchin believes that giving Americans $600/week is overpaying. Here is why he is completely wrong.
Treasury Secretary Steven Mnuchin shows he is oblivious to Americans' plight
It is clear that Steven Mnuchin, Trump's Treasury Secretary does not have a grasp of the state of what a large percentage of the American people are living under. He cannot understand the economic pain or stress they are under given his ridiculous statements on This Week. The thing is, he does it with such nonchalance and smoothness that most do not see how insensitive, inhumane, and callous his statements are.
"So you do think it is a disincentive to find a job," Raddatz asked Treasury Secretary Mnuchin. "if you have that extra $600?"
"There's no question in certain cases where we're paying people more to work -- stay home than to work," Mnuchin said without batting an eye. "That's created issues in the entire economy."
It is clear to Mnuchin, it is not about people's health. The real issue is maintaining a vibrant economy for the few. That is the secretary's sole concern.
"I want to interrupt you there for just one second," Raddatz said. " It's not all the evidence. A Yale study from this month refutes that, saying many economists who have studied the benefits said that so far they don't see any evidence in labor market data that the payments are affecting at which people are returning to work during the pandemic."
Treasury secretary response says it all
"I agree on certain things. I don't always agree," Mnuchin said. "There's a Chicago study that goes through all the people that are overpaid.
Where are the studies that look at services provided as a function of pay for the employee versus what the executives and shareholders make? You likely won't find them because they would reveal the dirty little secret nobody wants to talk about.
We have learned to put a facade over our economic system, hiding that it is mathematically unsustainable. What we have is antiseptic slavery where the gradation of pay and other influences have been sufficient to keep order. But citizens are becoming enlightened as it continues to cave under its own weight and is exacerbated by the coronavirus pandemic. As economist Richard Wolff points out, like every other failed economic system, it will die.
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