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Instead of 'requiring' someone to do anything, why don't we let people fall on their faces when they screw up? The incentive not to fail is a powerful motivator.
Yes, let's deliberately force everyone to fend for themselves and just see how things work out. That doesn't have any flaws. Let's live like animals in the wild.
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Why do we have to treat grown adults like five year olds?
Because there are some adults who don't understand when they are being taking advantage of...
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I crossed the threshold into a six figure income. I work 75-90 hours per week. On what planet would I want to endorse a system that gives the results of my hard work to someone who is content to work only 20 hours/week in a mailroom and expect a six figure salary?
...Because there are some adults who think working 90 hours for a 6-figure income is a better financial deal than working 20 hours for a 6-figure income.
I think it interesting that you joined CD just for the sole purpose of starting this thread, with every single one of your 47 postings being in this thread.
Anyway, let me tell you what my father once told me when I exhibited too much time on my hands:
why not explain just how I'm being exploited. You've obviously got it all figured out, so be specific - don't toss out nonsensical generalities. Explain to me exactly how *I* am being exploited, and by whom. Thanks in advance for the words of enlightenment.
I would imagine this idea is very popular within the union of latte foam artists.
It is popular with anyone who understands that using theft to privatize the planet is wrong, that paying half our income to people who don't work is not fair, that allocating income based on how much you can exploit someone is a scam, and that getting paid a below average income, which 97% of workers get paid, is a bad deal.
It isn't the initial act of raising the minimum wage that causes inflation. It is the resulting market realignment to an equilibrium point. You raise the minimum wage so that everyone makes between $115k and $460k per year. Great! Now what?
To make things simple, let's realign your numbers to today's prices. The maximum salary is effectively four times the minimum wage. This is the same as a janitor making $7.25/hr while a surgeon makes $29/hr. This gives the janitor a present-day yearly salary of $14,500 and a surgeon a present-day yearly salary of $58,000. Let's suppose we enact that legislation. Every surgeon now has effectively had their salary cut dramatically. Now, you are asking a surgeon to go to school for four years of college, four years of medical school, and up to seven years of a residency, studying 80 hours/week along the way to make an effective salary of $58,000. After realizing that instead of doing that work, the surgeon to be will realize that he/she can avoid fifteen years of schooling by becoming a janitor for not too much less money.
Now the question becomes, what do we do when we are lacking surgeons and have an influx of janitors? Well, we need to incentivize people to be willing to sacrifice fifteen years of their lives for a profession. How do we do that, why, we suddenly start offering that surgeon more than $58,000 per year for that work. After years of market balancing (during which time economies are crumbling and people are dying as people refuse to perform high paying, high stress jobs such as surgeons), the effective wages realign to their present day state, however at higher wages.
That is the DEFINITION of inflation.
Good god. I am ashamed to be human reading this s**t.
Yes, that is exactly what inflation is. Did you get that out of an economics book?
Inflation is a rise in the general level of prices. Prices for everything, on average, rise. In order to have have inflation in a $14.5 trillion dollar economy, you need to produce the same amount for more than $14.5 trillion. That is mathematically impossible to do when you only pay out $14.5 trillion in income.
Cliff has no incentive to make anymore notes since his profits are capped.
LMAO!!!
I'm all for equalizing the wealth, but you don't do it through hyperinflation.
You do it through economic policy such as tariffs, strict immigration laws, etc.
By eliminating the competition, the remaining folks in effect can ask for a bigger piece of the pie.
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