Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I wanna know where the OP jacked that huge post from. I doubt the OP wrote it all themselves.
Also, where is all of this money going to come from? If everyone was paid that amount, the dollar would be worthless. We'd be looking at the dollar being valued like the Yen. You'd need $50,000 just to buy a piece of gum.
I am the author of the post.
Unfortunately, my account was banned for spam when I posted this thread with the links to my citations. But the most important is the calculations of the incomes which I posted as a response here:
All we are doing is re-allocating EXISTING income. We are not increasing the total amount of income that is getting paid out. So it does not cause inflation.
If all we did was increase the minimum wage to $115k, and kept everyone else's income the same, that would cause inflation. But that is not what we are doing. We are also lowering the top pay from hundreds of millions and billions of dollars to just $460k. The amount we are reducing the top pay is exactly equal to the amount we are increasing the minimum pay. The net result is no increase in price on average. This is math 101.
If you have a $14.5 trillion economy and you only pay out $14.5 trillion in income, it is mathematically impossible to have inflation. How is the economy going to inflate beyond the $14.5 trillion if only $14.5 trillion is being spent? It can't. It is impossible.
As I explained to the other commenter, all we are doing is re-allocating EXISTING income. We are not increasing the total amount of income that is getting paid out. So it does not cause inflation.
If all we did was increase the minimum wage to $115k, and kept everyone else's income the same, that would cause inflation. But that is not what we are doing. We are also lowering the top pay from hundreds of millions and billions of dollars to just $460k. The amount we are reducing the top pay is exactly equal to the amount we are increasing the minimum pay. The net result is no increase in price on average. This is math 101.
If you have a $14.5 trillion economy and you only pay out $14.5 trillion in income, it is mathematically impossible to have inflation. How is the economy going to inflate beyond the $14.5 trillion if only $14.5 trillion is being spent? It can't. It is impossible.
You can see the calculation in paying out those incomes here:
Sounds like a good plan, everyone at McDonalds should be making 100k.
Now I'll go order me one of those quarter pounders with cheese for $35.
All we are doing is re-allocating EXISTING income. We are not increasing the total amount of income that is getting paid out. So it does not cause inflation.
If all we did was increase the minimum wage to $115k, and kept everyone else's income the same, that would cause inflation. But that is not what we are doing. We are also lowering the top pay from hundreds of millions and billions of dollars to just $460k. The amount we are reducing the top pay is exactly equal to the amount we are increasing the minimum pay. The net result is no increase in price on average. This is math 101.
If you have a $14.5 trillion economy and you only pay out $14.5 trillion in income, it is mathematically impossible to have inflation. How is the economy going to inflate beyond the $14.5 trillion if only $14.5 trillion is being spent? It can't. It is impossible.
You can see the calculation in paying out those incomes here:
Thinking the same thing. They have been listening to the entitlement Liberals to much!
There is nothing more entitlement than paying half our total income to people who don't work. All our money should be paid to workers in exchange for working, not half, since they are responsible for all of our production. That is only fair. And that is what is advocated in this post.
The OP must be under the impression that with wages like that everything else will stay at the same price.
All we are doing is re-allocating EXISTING income. We are not increasing the total amount of income that is getting paid out. So it does not cause inflation.
If all we did was increase the minimum wage to $115k, and kept everyone else's income the same, that would cause inflation. But that is not what we are doing. We are also lowering the top pay from hundreds of millions and billions of dollars to just $460k. The amount we are reducing the top pay is exactly equal to the amount we are increasing the minimum pay. The net result is no increase in price on average. This is math 101.
If you have a $14.5 trillion economy and you only pay out $14.5 trillion in income, it is mathematically impossible to have inflation. How is the economy going to inflate beyond the $14.5 trillion if only $14.5 trillion is being spent? It can't. It is impossible.
You can see the calculation in paying out those incomes here:
You will not have a 14.5 trillion dollar economy for long when there is zero incentive to profit and all the incentive in the world to take your money and flee.
I am sorry, but I meant how you calculated the fair value of each job a person is doing. A direct even split is hardly 'fair'. A fair wage is whatever you can earn for yourself. Forcing someone to take a higher wage than they can earn on their own is hardly 'fair'.
Before we dive into the math, please give me your definition of 'fair'.
So, under your economy, a CEO or a top surgeon would only be making 4X the salary as a fast food worker or a factory line worker? Seems completely fair to me
What I don't get with the whole Democratic/Liberal/Socialist way of thinking is why should we reward laziness in the form of government hand outs and increased minimum wage. The people that are making more than that worked their way up to get to that salary. Now you're going to take it away from them so that people who don't want to work, or people who are working but doing an awful job would make that much more!
Also, under your plan you stated that everyone would be employed, also meaning that no one could get fired. So people could sign up for that $115K job and then never show up and they can't get fired.
Seems like the American way! WAKE UP!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
