Opinion: Small businesses can’t afford any more stimulus
In this opinion piece in the Stamford Advocate, Joel Johnson, CFP® discusses the overstimulation of the economy, inflation, and labor shortages that stemmed from the Covid-19 pandemic. The government response to the pandemic included unemployment benefits up to $1,000 per week, which arguably led to labor shortages and more unwillingness to work.
Some things cost 15 to 20% more than they did in 2019 or pre-pandemic. People now need to earn more to deal with these rising prices. Many will find themselves in the position of asking for a raise at work, which their employer will likely grant due to the shortage of skilled workers. It’s an ever-going cycle and it is time to bring it to a halt.
Joel urges small business owners, who make up the majority of all business, to reach out to their local lawmakers to share their stories. The more they hear from them, the easier it will be to understand what they are and have been going through for over two years.
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