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I think min wage should be raised to $9-$10 dollars but anything more would be a disaster. Also a negative income tax should be created to help those who are not making enough to get by.
“The real losers in all of this are the innocent civilians,” said Aaron DeHoog, the Financial Publisher of Newsmax Media. “Those who are investing ‘safely’ could lose as much as 50% of their wealth if things get out of control.”
OK this article doesn't even consider the impact of hyper inflation on those making minimum wage. The cost of food going up much faster than the minimum wage would be disastrous. Better to lead inflation with the minimum wage than let it lag.
Quote:
Originally Posted by PokerPlayer84
Many peoples agenda is obvious they do not like or care for the poor so they will blame the poor and try to make that their opinion that the min wage is not supposed to be a career a fact without showing any evidence and we are supposed to just accept that their opinion is right.
Forget the poor. The middle is going away do to outsourcing and automation. In terms of our tax base and our unfunded obligations we need the bottom to pay what the middle use to. Downwards mobility is the norm now so we need the bottom to pick up the slack left by the sacking of the middle.
Thats about the size of it. They want to have a lot of poor peasants to work as slaves to make the rich, richer.
This is actually true in many ways. However many so-called champions of the poor actually encourage or ignore the behaviors and mindset that keep people poor. The biggest one being having kids without being married.
Even some of the more liberal scholars are admitting conservatives were right in speaking out about the dramatic increase in single parent families:
The powers that be know the more one makes... the more they spend, people should realize the bump up of min wage only drives up consumer goods.
The only thing you will get is a increase in tax and to brag you now make x amount of money... i'd be happy make'n 2 bucks a day, if that same $2 would actually buy something! More and or bigger is not always better.
The biggest one being having kids without being married.
No. That's just a another bad attempt to confuse an incidental result with a causal action.
The issue in this is the conception by woefully unprepared to be a parent kids...
for whom the closest thing they have to a relationship is proximity to each other.
Implying that either of them, let alone the child, will be better off by imposing
a shotgun marriage between them is just ludicrous.
We pretend to work. We pretend we pay you. All good.
So we pay 20 bucks an hour minimum wage. Inside a week, the cost of EVERYTHING will shoot up. And instead of saving money, Americans will still head for Disney World, go on cruises, buy that new car, another tattoo. Etc.
But I can hear it now. So what? That is my money to spend anyway I want to. Fair enough. But the government wants to take more of my money to give to you. I saved, drove used cars, no tattoos, no cruises and enjoy a nice retirement, but you need to be subsidized which is what minimum wage is.
Is there no end to this nonsense? Yes there is. It will be very ugly.
The middle is going away because of the pressure on wages...
most of that is from the over abundance of warm bodies available.
Quote:
Originally Posted by pie_row
As I said here
It is the ratio that matters. In this case the ratio of people to available money. With a high concentration of wealth in the hands of a few then everyone else is staved for money. To the rich wages are an expense. But if you loan the workers money instead of paying them wages you get your money back with interest.
Quote:
Originally Posted by Bettafish
Higher minimum wage = more people out of work
Normally yes that is so, but and here is a big one, with effective (That is something that works) economic stimulus you can eliminate the dead weight loss of a much higher minimum wage.
Quote:
Originally Posted by 369963
The powers that be know the more one makes... the more they spend,
And the problem with the popping Real Estate bubble was that they stopped spending.
Quote:
Originally Posted by 369963
people should realize the bump up of min wage only drives up consumer goods.
That doesn't matter. Prices are going up without wages going up. Wages need to lead prices. That takes the pressure off of the bottom end.
Quote:
Originally Posted by 369963
The only thing you will get is a increase in tax and to brag you now make x amount of money... i'd be happy make'n 2 bucks a day, if that same $2 would actually buy something! More and or bigger is not always better.
That is the argument for deflation. But deflation brings with it much higher unemployment. We have a lot of unfunded obligations. We need everyone working at a high nominal rate of pay. The alternative to doing this is hyper inflation. A runaway printing press.
Quote:
Originally Posted by Ollie1946
We pretend to work. We pretend we pay you. All good.
So we pay 20 bucks an hour minimum wage. Inside a week, the cost of EVERYTHING will shoot up. And instead of saving money, Americans will still head for Disney World, go on cruises, buy that new car, another tattoo. Etc.
Yes and the world's economy is structured around the US consumer consuming the excess product of the the world's production capacity. Get the economy back going then grow it to a healthy state and then maintain health over the long run. If people wont save enough voluntarily then we need an enforced savings plan. We probably do anyway as market forces will not demand a high enough savings rate to balance trade as long as we maintain our position of world's reserve currency.
Quote:
Originally Posted by Ollie1946
But I can hear it now. So what? That is my money to spend anyway I want to. Fair enough. But the government wants to take more of my money to give to you. I saved, drove used cars, no tattoos, no cruises and enjoy a nice retirement, but you need to be subsidized which is what minimum wage is.
Not the way I see it. We are in deep economic trouble, we have massive unfunded obligations and we are indiscriminately printing money to fund them. That will take far more of your money than upping the minimum wage far enough to balance the books. And you enjoyed the Reagan started credit bing along with everyone else. The credit bill is coming due. Printing it down will take far more of your money than than upping the minimum wage far enough to balance the books will.
Quote:
Originally Posted by Ollie1946
Is there no end to this nonsense? Yes there is. It will be very ugly.
You said it. One hundred percent inflation a day is coming our way if we don't take responsibility for the last three decades of irresponsibility in the US.
This is actually true in many ways. However many so-called champions of the poor actually encourage or ignore the behaviors and mindset that keep people poor. The biggest one being having kids without being married.
Even some of the more liberal scholars are admitting conservatives were right in speaking out about the dramatic increase in single parent families:
Everyone believes that irresponsibly begetting children is a bad situation. Dan Quayle attempted to extend that belief to a responsible single person, and a fictional one at that!
Single parents can come about many ways. Death, divorce, choice. Not getting married or remarried into a flawed relationship sounds very much like a responsible choice to me.
There is no shortage of damaged people from two parent homes. What conclusion should we draw from that?
It is the ratio that matters. In this case the ratio of people to available money. With a high concentration of wealth in the hands of a few then everyone else is staved for money. To the rich wages are an expense. But if you loan the workers money instead of paying them wages you get your money back with interest.
Normally yes that is so, but and here is a big one, with effective (That is something that works) economic stimulus you can eliminate the dead weight loss of a much higher minimum wage.
And the problem with the popping Real Estate bubble was that they stopped spending.
That doesn't matter. Prices are going up without wages going up. Wages need to lead prices. That takes the pressure off of the bottom end.
That is the argument for deflation. But deflation brings with it much higher unemployment. We have a lot of unfunded obligations. We need everyone working at a high nominal rate of pay. The alternative to doing this is hyper inflation. A runaway printing press.
Yes and the world's economy is structured around the US consumer consuming the excess product of the the world's production capacity. Get the economy back going then grow it to a healthy state and then maintain health over the long run. If people wont save enough voluntarily then we need an enforced savings plan. We probably do anyway as market forces will not demand a high enough savings rate to balance trade as long as we maintain our position of world's reserve currency.
Not the way I see it. We are in deep economic trouble, we have massive unfunded obligations and we are indiscriminately printing money to fund them. That will take far more of your money than upping the minimum wage far enough to balance the books. And you enjoyed the Reagan started credit bing along with everyone else. The credit bill is coming due. Printing it down will take far more of your money than than upping the minimum wage far enough to balance the books will.
You said it. One hundred percent inflation a day is coming our way if we don't take responsibility for the last three decades of irresponsibility in the US.
This is the real point. Both parties have been remiss in not keeping the books balanced. And both parties look the other way when their own guys are doing it!
Back in 2000/2001 I casually remarked to a co-worker (who is a rabid GOP supporter) that we should not be running near trillion dollar deficits as a matter of course. Not because a Republican president and congress were in charge, but because it was poor fiscal policy. He made a lot of rationalizations and really could not care less. Now he rails on daily about deficit spending because a Democrat is president.
Grover Norquist has made a living off pressuring congress not to raise taxes for any reason. When asked what he thought about his hero (Reagan) raising taxes 8 times during his reign, he brushed it off as irrelevent.
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the answer is NO!
