For most, the system of bail and bail bonds may seem like nothing more than a closed business between an agent, the court system, and any number of incarcerated individuals. But, like any other industry, the bail bond business actually has significant effects on the local and state economy, most of which are highly positive. If you have ever wondered what the bail bond system does for you, here are ways that it fuels positive economic growth that we can all enjoy.
Added Employment
Over the past few years, especially during the beginning of the economic downturn in 2007-2008, the notion of unemployment has become a hotly debated prospect, with most discussions focusing on how to create more jobs for Americans everywhere. And no matter where the conversation veers, most everyone agrees that more employed individuals will lead to a better society overall.
The bail bond industry contributes to this by opening up numerous employment opportunities for Americans of all skill levels that wish to work in the criminal justice system. And as more and more jobs are created in this industry, fewer citizens will face the prospect of not having a job.
More Money for the Community
The nature of issuing a bail bond is simple: an incarcerated individual, or often someone close to them, calls a bail bond agent, pays a certain premium, and is then offered a temporary release until their trial begins. The premium is non-refundable, but it is always much lower than the amount set by the court system.
Have you ever imagined what would happen though, if individuals were forced to pay the full amount, or instead wait in jail until the start of the court proceedings? Countless more men and women would end up staying in jail, which would leech money from taxpayers across the entire country. Because the incarcerated must be fed, clothed, sheltered, and tended to in a humane manner, huge sums of money would be allocated to this endeavor in the prisons, taking it away from other, more pressing projects. With the existence of the bail bond system, this capital is freed up, allowing it to be spent on civic projects, such as better education systems, sturdier roads, and anything else the taxpayers want.
Money Changing Hands is Good
Economists across the world have debated whether or not consumer spending is a driver of economic growth, or simply a consequence. Ultimately though, many economists concur over the fact that money changing hands in an economy is a sign of a strong economy, and should be fostered in every way possible. Because the bail bond system epitomizes this concept entirely (as it is an industry in which money changes hands), the growth of these endeavors are a sure sign of positive growth, and should be encouraged, as this then can have a positive effect on us all.
Bail Bonds Are Good for the Economy
Although bail bonds are an easy way for you to secure the release of a loved one, they also actually help support a growing economy for us all. And if you know someone that is looking to enjoy freedom before their trial, make sure to call a Utah bail bond agent to start the process immediately.
- Information to Have Handy When You Call a Bail Bond Agent in Utah - July 18, 2022
- What Happens to Bail Bond Money When Charges are Dropped? - May 23, 2022
- What To Do When Your Loved One Is Arrested With Drugs - January 5, 2022
