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I would have to disagree, from a macroeconomic standpoint. When workers have low wages, they can only afford necessities. As their wages increase, they can buy other items and sometimes save for the future. That's called demand and it is what fuels an economy.
Remember, my spending is your income and your spending is my income. If I have more to spend, you have greater income which you then spend on what I am selling.
I agree with you on growing the economy. That ultimately is the very reason that inflation will accompany it.
The real issue is who captures the benefit of that growth; those benefits will not accrue to everyone in between the minimum wage workers and the upper middle class. Ultimately, that means that lose out dramatically as inflation accelerates (even slightly) while they stay stagnant.
Why don't those who admit that those who oppose raising the min wage just admit they like having poor people to look down on? The prices of gas, food, has gone up all to the point where something needs to give. But hey let's keep poor people poor!
Why don't those who admit that those who oppose raising the min wage just admit they like having poor people to look down on? The prices of gas, food, has gone up all to the point where something needs to give. But hey let's keep poor people poor!
Why don't they? Because unlike liberals who think no one is capable of succeeding without government help, people who oppose raising the minimum wage don't look down on other people. You're doing a great job of keeping poor people poor, you should be proud of your accomplishments. Don't do anything to help people improve, just take from someone else and give "the poor" a handout to make sure they stay poor.
I agree with you on growing the economy. That ultimately is the very reason that inflation will accompany it.
The real issue is who captures the benefit of that growth; those benefits will not accrue to everyone in between the minimum wage workers and the upper middle class. Ultimately, that means that lose out dramatically as inflation accelerates (even slightly) while they stay stagnant.
As I write this, I am reading about inflation being below the Fed target. Commodities are actually in a deflationary mode. We can use a little wage inflation and that inflation will still not result in undue inflation.
To think of this, try to mentally calculate how much dollar volume a fast-food register worker rings up in an hour. Then multiply that by the number of registers, then divide by the number of minimum works in the restaurant. That's the sales per person. When I have done that, it came to several hundred dollars. Adding another $7.50 in cost to bring in several hundred dollars really isn't that significant and won't drive prices up.
Liberal idiots think money falls out of the sky. If you raise the Min. wage its passed on to the consumer who then buys less or tips less ect. For ever action............. Liberals never learn.
I enjoy reading the irony of *someone* who calls others idiots but nevertheless is ignorant of the research on the matter and then argue a conclusion not concluded in the research. The MW is one of the most highly studied and there is little evidence that raising the minimum wage has anything but a minimal impact on prices.
So, when one asserts that there will be fewer sales if we raise the MW, one is just making up facts that aren't true.
Moreover, this isn't a liberal/conservative issue. There are plenty of conservative MW workers who would benefit from a raise.
Liberal idiots think money falls out of the sky. If you raise the Min. wage its passed on to the consumer who then buys less or tips less ect. For ever action............. Liberals never learn.
Neither party does... I don't vote for that very reason. But I have yet to see or hear a fix from either party. I won't hold my breath waiting either.
If you knew how to read you would know that tipped restaurant employees are exempt from the federal minimum wage (when their tips make up the difference).
Get out of your bubble and try living on the $7.25 an hour federal minimum and see how it goes. It might be possible to survive on 7.25 an hour while living in your moms basement not paying rent, but not possible in the real world and not on your own. I doubt anyone could even survive on such meager pay, much less make any sort of decent living on it. It would be a struggle on 10 or 11 an hour much less seven twenty five.
I bought my first house while working for minimum wage.....$3.50 an hour.......granted, I worked two jobs and made money anywhere else I could find.......until I found a better job......which then led to an even better job.
Nobody should be surprised when wealth inequality becomes so obvious and instilled
in American life that people will vote for a democratic solution to the problem.
All it takes is a majority to vote clearly for something or someone they can depend on.
That is the rub (depend on). If there is a large enough support for socialistic price controls
and profit sharing, including wage increases, they will happen.
I don't think anyone can successfully argue that supply-side/trickle-down/too-big-to-fail/
non-protectionist trade economics has not been fully experienced for enough years that
we shouldn't pass a verdict on these things. Let's call them what they are.
They are a stab in the back of the average American family.
We need some trickle-UP and we need some protection against unfettered global trade.
We also need to start hiking interest rates because the results of free money and stimulus
is only malinvestment leading to bubbles and speculative price inflation.
fast food workers are calling for a 100% increase in wages. am I going to get this raise also? or is this just lifting the parasites up to a level they haven't earned?
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The prices of gas, food, has gone up all to the point where something needs to give. But hey let's keep poor people poor!
