- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
In 100 words or less how can raising the min. wage help the middle class?**
Posted on 1/30/14 at 9:47 am
Posted on 1/30/14 at 9:47 am
ccccccccccccccc
This post was edited on 1/30/14 at 9:47 am
11
Posted on 1/30/14 at 9:48 am to doubleb
Living wage for all...blah, blah, blah...economic justice....blah, blah....everyone deserves a fair shot....blah, blah, blah...
19 words. How'd I do?
19 words. How'd I do?
Posted on 1/30/14 at 10:03 am to doubleb
I feel like this would be very hard to do 
Posted on 1/30/14 at 10:06 am to doubleb
Supposedly it goes like this:
Increase in MW give Mary 500 bucks a year more to spend.
Mary has a thing about shoes, so she buys 500 bucks worth of shoes at Pay Less.
The jump in sales motivates the owner of Pay Less to hire an extra worker.
Thus, a middle class job is created.
Increase in MW give Mary 500 bucks a year more to spend.
Mary has a thing about shoes, so she buys 500 bucks worth of shoes at Pay Less.
The jump in sales motivates the owner of Pay Less to hire an extra worker.
Thus, a middle class job is created.
Posted on 1/30/14 at 10:08 am to doubleb
I love how proven economics is just thrown aside.
if the government stayed the frick out of business wages would be higher and there would be more jobs.
The lags we would experience would be short lived.
Somewhere along the line we forgot that when every individual satisfies his own needs and goals, the collective benefits.
if the government stayed the frick out of business wages would be higher and there would be more jobs.
The lags we would experience would be short lived.
Somewhere along the line we forgot that when every individual satisfies his own needs and goals, the collective benefits.
Posted on 1/30/14 at 10:15 am to doubleb
quote:
In 100 words or less how can raising the min. wage help the middle class?**
Who said that was the objective in the first place?
Posted on 1/30/14 at 10:19 am to doubleb
Minimum wage only helps out union bosses and governments and only for a short period of time. Because after prices adjust (inflate) they will be begging for more.
Posted on 1/30/14 at 10:32 am to doubleb
No but it would increase the banks seigniorage revenue because it would cause massive inflation.
Posted on 1/30/14 at 12:12 pm to doubleb
This minimum wage debate is a direct appeal to the lowest common denominator, at least in terms of its framing.
The decrease in the minimum wage has been nearly perfectly offset by the earned income tax credit, the sum of which is now equal today to where it was in the 1970s and in the mid to late 1990s. Some inflation adjustment is likely needed but, remember, the government tells us we don't have inflation because they remove food and energy from the calculation, so I don't know if they can even argue for said adjustment unless it's over a multi-year timeframe (which would be reasonable).
The key difference between the two is that the earned income tax credit is more effective at benefitting its intended audience. Everyone benefits from an increase in the minimum wage - even the 15 year old selling subs at Jimmy John's (for whom an increase is not needed from an economic perspective). Only the real low-income earners trying to support a family benefit from the earned income tax credit. It's simply more effective than the minimum wage.
Read this:
LINK
The decrease in the minimum wage has been nearly perfectly offset by the earned income tax credit, the sum of which is now equal today to where it was in the 1970s and in the mid to late 1990s. Some inflation adjustment is likely needed but, remember, the government tells us we don't have inflation because they remove food and energy from the calculation, so I don't know if they can even argue for said adjustment unless it's over a multi-year timeframe (which would be reasonable).
The key difference between the two is that the earned income tax credit is more effective at benefitting its intended audience. Everyone benefits from an increase in the minimum wage - even the 15 year old selling subs at Jimmy John's (for whom an increase is not needed from an economic perspective). Only the real low-income earners trying to support a family benefit from the earned income tax credit. It's simply more effective than the minimum wage.
Read this:
LINK
This post was edited on 1/30/14 at 12:14 pm
Posted on 1/30/14 at 12:16 pm to doubleb
quote:
In 100 words or less how can raising the min. wage help the middle class?**
Help?
Posted on 1/30/14 at 12:18 pm to doubleb
quote:
doubleb
In 100 words or less how can raising the min. wage help the middle class?**
It won't. I helps poor people get into the middle class.
Posted on 1/30/14 at 12:23 pm to doubleb
it cant
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News