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That is awesome, hopefully more states will follow. I imagine Washington and Oregon will be the next states to do something like this.
WA and OR are already well over $9
Why not raise the minimum wage to $100? Minimum wage is an arbitrary number that will price out unskilled labor, and especially against the poor and youth.
If minimum wage goes past a certain point the service industry will invest in automation, and the unemployment roles will grow by leaps and bounds.
Yup cherry pick. Most of the costs you cited are either not up much at all since 2008 or are tightly controlled commodities through government regulation e.g. utilities and pharma with prices subject to a lot either local, or national regulation.
That is why the CPI is generally used because it is a basket of commodities that reflect the economy as a whole, now it has its problems, but not the kind of problems the conspiracy minded right places on it.
Deflation is usually a boon to people not in debt and have cash to spend.
Not so with the Fed controlling interest rates my friend.
We have not had true deflation because with true deflation cash is king.
And that didn't happen this go round did it ?
Savers suffered just as much, if not more by the Fed's meddling in the economy.
How is a person supposed to raise a family on $10 an hour?
One cannot. That's why the combination of legacy benefits for low income family earners, EITC, TANF, SNAP, free/reduced cost school meals, Section 8, Medicaid for children, etc. combine to substantially increase a low income family's buying power.
After taking the value of these benefits into consideration, how many families are actually living on minimum wage?
And when they get a raise it's not a $2/hour raise is it ?
How can you possibly compare a normal raise of $.25-$.50/hour to a mandated raise to all of $2/hour ?
A 25 cent raise? That is quite the junky raise you are getting. And yes, your description is called normal fluctuations of employment.
Why not raise the minimum wage to $100? Minimum wage is an arbitrary number that will price out unskilled labor, and especially against the poor and youth.
If minimum wage goes past a certain point the service industry will invest in automation, and the unemployment roles will grow by leaps and bounds.
It's already occurring in Europe.
But since our MSM doesn't talk about it ..."ignorance is bliss" as they say.
Why not raise the minimum wage to $100? Minimum wage is an arbitrary number that will price out unskilled labor, and especially against the poor and youth.
If minimum wage goes past a certain point the service industry will invest in automation, and the unemployment roles will grow by leaps and bounds.
Heck, why not raise it to a billion an hour? I stopped reading your post after that statement.
Deflation is usually a boon to people not in debt and have cash to spend.
Not so with the Fed controlling interest rates my friend.
We have not had true deflation because with true deflation cash is king.
And that didn't happen this go round did it ?
Savers suffered just as much, if not more by the Fed's meddling in the economy.
2009-2010 was a boon to people with cash on their hands. Are you joking, my family has a real estate holding and operating business and we all went on a spending spree, so did other similarly situated folks I knew, one person I knew got some great deals on beach houses. It was good times if you had cash.
Savers suffered just as much, if not more by the Fed's meddling in the economy.
Savers suffered the most this go around. The FED has always rewarded savers in the past, but this time the very people who bailed out the banks are also being crushed by their policies. They keep interest rates artificially low, creating cheap money. The banks take that cheap money, and rather than loan it to main street, they invest it in Wall Street.
It's all a scam based on greed.
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