Remember that tax deal last December, where Democrats in Congress agreed to extend by two years the Bush tax cuts for the wealthy and Republicans agreed to extend special federal unemployment benefits by one year. We had no choice, the deal’s Democratic supporters explained. We had to protect the jobless.
Well, April Fool! The jobless aren’t feeling particularly protected these days. Michigan lawmakers last week voted to slash the maximum weeks any jobless person can receive unemployment benefits, starting next year, from 26 to 20. In Florida, lawmakers are pushing for a slash all the way down to 12 weeks.
The wealthy, meanwhile, are fully enjoying the tax benefits from December’s deal. Taxpayers making over $1 million a year are saving, on average, $2,686 a week. The maximum weekly unemployment check in Michigan: $362.
Ready to help turn the April Fool’s tables? The Common Security Club network is now organizing, nationally, “We Won’t Be Fooled Again” parties for this Friday. The parties will be screening Inside Job, the Oscar-winning documentary that details how Wall Street kills jobs. You can learn more about Friday's alternate April Fool online — and lots more about inequality below, in this week’s Too Much. ...
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