Why we need a 4x on minimum wage (unemployed, dollars, economic)
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Like all things, the amount your paid is based on supply and demand, that is unless your in the gov and wall street where you have a unfair advantage.
The only way to increase wages is to reduce the supply of workers so that they will have to pay more to attract workers.
The best way to reduce the number of workers is to boot out all the illegals, lower the age required for social security so that more will go off the work force.
This would work in theory only if we were living in an isolated country though, since there is still the global workforce to take into account.
So we would need to go with isolationist policies which cause some short term pain for long term gain, boot out the illegals, and lower the age for social security.
Also, since the majority of our goods come from overseaes, going with isolationist policies would force those companies to move back here to meet the supply and demand of this local market, or new companies would pop up here.
The Social Security age limit was set to match the average life expectancy prevailing at the time. If anything, there is a push to raise the age limit to match the new higher life expectancy. Illegals have some effect on wages in general, but, to be fair, illegals are represented in only a couple or three main areas of commerce. Wages are depressed across the board in America. Illegals? I think not. It must be said, the entry of women, en masse into the workforce has been probably the biggest influence on the stagnant wages of the 20th/21st Century. I'm not saying it from an anti-feminist standpoint just from the observers standpoint that a near doubling of workforce can and will be exploited by business in the form of lower wages overall. The trend towards excessive compensation of Executives is as large or a larger knock on the overall compensation of workers in America as well.
So... it's either we return to single earner households or knock executive compensation back to rational levels. Nothing else will have as great an effect on overall wage trends.
"Supply and Demand" and "Free Trade" are meaningless concepts in a world economy dominated by corporatists and industrial slavers.
If we value our country, our freedom and ourselves we need to stop playing their games by their rules.
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Originally Posted by Frank DeForrest
If we value our freedom we should have a government run centrally planned economy
It must be opposite day on your planet lol
You are both right and both wrong.
We are dominated by a corporatist system, our government grants privilege to corporations.
What we should not do is hand over control to the same government that created the mess. We need to change the system to one that taxes government granted privilege, this includes limited liability of corporations, bankers, land speculators, oil and natural resource controllers etc.
If we were to do this we would not need taxes on productivity or a huge government. We could fund the basics and give the rest of us the benefits of their privilege.
Central planning never works but a truly even playing field with a government that acts as a referee, not a player, is the answer.
And you think big businesses and small businesses are just gonna pay people more 'cause they're nice companies and ethical? Better skills just equals better work and qualifications for THE SAME MONEY.
That is the most naive thing I think I've ever read here. ROTFLOL!
You are either still too young to have had a real job or you have never had a private sector job in your life. In the real world, people get raises for their performance and your salary is determined by skill and the free markets.
I like Reggie, he does good work. Yes, it is going to get worse. Japan peaked in spending (their baby boom peaked) in 1990, we are on the same path, yet Japan did not have the debt we have.
We are in really bad shape economically. What we really need is a 200% inflation of GDP. With out any more debt.
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Originally Posted by hilgi
Pay off all debt with government issued debt free currency.
If you have a workable plan I’m all ears.
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Originally Posted by hilgi
As we saw in Japan, pumping in money won't work in a cyclical spending down turn.
What drives a cyclical spending downturn is too much debt to income. You get to spend more money when you have more income than the debt load will tax.
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Originally Posted by hilgi
Growing the monetary base will only cause inflation if it makes its way into the economy, so far it has not. The velocity of money dropped and is still down drastically, if it skyrockets we will have inflation. First look for deflation, inflation will follow.
What I said in the opening post on this thread was that we have had, worldwide and run through the US economy, is an over tripling of the worlds monetary base in the last ten years. We are going to be having inflation and badly so if we don’t pull $7TrillionUSD out of circulation. Got any ideas on how to do that one pretty and well?
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Originally Posted by lifelongMOgal
A better solution would be for the FED to stop printing money and devaluing our dollar. This country needs to learn to live within its means and to bring manufacturing back to our shores.
What the fed is doing is small potatoes compared to what has already been done.
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Originally Posted by rd2007
I love people who think things all the way through. I'm guessing the OP gave this topic at least two seconds of thought before forming this opinion...
Try a good two years worth of research. If you triple the monetary base then you are going to triple everything else if you let the money circulate. Really simple. If lead with the minimum wage you are pushing where it needs to go and not letting wages lag.
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Originally Posted by SourD
You are either still too young to have had a real job or you have never had a private sector job in your life. In the real world, people get raises for their performance and your salary is determined by skill and the free markets.
You left out a biggie people also are paid relative to the minimum wage.
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Originally Posted by Roadking2003
The states should set their minimum wage at zero.
We don't need government telling us what to pay workers.
You are absolutely correct as long as you are willing to live or die with the consequences. The French revolution. The killing fields of Cambodia. The cultural revolution. Pay the bottom end a descent wage and you don’t get those things.
Because the worlds monetary base did a 3.3333X over the last decade, with the printed money going through the US economy, and we need to up the minimum wage just to keep up with inflation.
There should be no minimum wage. If the job doesn't pay enough for what you think you are doing, don't work there.
I'm not well to do or important enough to be a target to revolutionaries.
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