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I think she might have just given those who caught it an insight into hers and similar Democrat's thinking.
She's discussing the fiscal cliff and her viewpoints and amidst it all she started to say - and I'm paraphrasing until I can maybe get an exact quote later - "....I'm just not sure we can raise revenues enough raising minimum wage - excuse me, I meant...."
I know the Dems have plans to raise the national minimum wage significantly, but never considered they might consider it a source of new tax money!
Here's the video (the mistaken comment is at 1:14):
It stands to reason that any increase in income.... across the board, would result in an increase in revenue.
Could be why job creation was such a hot topic during this past election. Raising people's income from zero would also have resulted in an increase in tax revenue. Too bad the population didn't fall for that one.
I had just never thought of raising the minimum wage from the angle that it raises revenue. I suppose I shouldn't be surprised Dems, on the other hand, do think that way.
It stands to reason that any increase in income.... across the board, would result in an increase in revenue.
Could be why job creation was such a hot topic during this past election. Raising people's income from zero would also have resulted in an increase in tax revenue. Too bad the population didn't fall for that one.
I don't totally understand what you're saying. Maybe I'm missing your sarcasm? Personally I think broadening the base with growth and more people working to raise revenues is the best way and great for everybody.
I think she might have just given those who caught it an insight into hers and similar Democrat's thinking.
She's discussing the fiscal cliff and her viewpoints and amidst it all she started to say - and I'm paraphrasing until I can maybe get an exact quote later - "....I'm just not sure we can raise revenues enough raising minimum wage - excuse me, I meant...."
I know the Dems have plans to raise the national minimum wage significantly, but never considered they might consider it a source of new tax money!
It would help your credibility if you didn't cut the quote off where you did. What did she say after "I meant . . ."?
It would help your credibility if you didn't cut the quote off where you did. What did she say after "I meant . . ."?
Here's the video, she meant to say "raising retirement age" when she mistakenly, but seemingly revealingly, said "raising minimum wage" (1:14) in regard to ways of raising revenue.
Here's the video, she meant to say "raising retirement age" when she mistakenly, but seemingly revealingly, said "raising minimum wage" (1:14) in regard to ways of raising revenue.
People misspeak all the time and it generally doesn't mean anything.
Raising the minimum wage probably won't raise tax revenue that much because minimum wage workers pay the lowest income tax rates.
As for raising the retirement age, that probably remains to be seen. There are a couple of points:
1. We're already in the middle of a process of gradually raising the age to full Social Security retirement eligibility.
2. It may be a zero-sum game because raising the retirement age may be keeping older people in jobs that would otherwise be filled by younger people, and who have no employment process if those jobs are "blocked".
As the economy improves and more people get back to work, companies will see that they have higher demand for their goods and services. That will lead them to produce more, which will lead them to need to hire more workers, those workers will have more money to spend, and the economy will improve, aggregate demand will increase, employment will increase, tax revenue will increase, and social benefit expenditures will decrease.
Keynes and Krugman are right, the Republicans and Europeans are wrong.
Here's the video, she meant to say "raising retirement age" when she mistakenly, but seemingly revealingly, said "raising minimum wage" (1:14) in regard to ways of raising revenue.
Seems like you only want it to be "revealing" in the way that most suits your prejudices. I mean, if we really want to read into things she was talking about being against raising the retirement age, but accidentally said minimum wage, so I guess that means that she is really against raising the minimum wage, right? And she said that raising the minimum wage wouldn't increase revenues much, so maybe she doesn't really see it as a way to raise revenue.
Or maybe, you know, she just misspoke.
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