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Bill Clinton: I Know Why American Incomes Are Stagnant
Posted on 9/29/14 at 5:03 pm
Posted on 9/29/14 at 5:03 pm
quote:
"Median income hasn't gone up for three reasons," Clinton said. "One is the labor markets aren't tight enough, and we haven't raised the minimum wage as we should. And the second reason is we haven't changed the job mix enough, to raise the median income and have more poor people working into it. The combination of jobs has to pay, on average, higher wages."
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Posted on 9/29/14 at 5:07 pm to TT9
quote:
"America has to face the fact that we have not reformed our corporate tax laws when 100 percent of the people, from Democrats, Republicans, Independents, agree we need to," Clinton said. "We have the highest overall corporate tax rates in the world. We need tax reform."
Posted on 9/29/14 at 5:08 pm to TT9
quote:
"Median income hasn't gone up for three reasons," Clinton said. "One is the labor markets aren't tight enough, and we haven't raised the minimum wage as we should. And the second reason is we haven't changed the job mix enough, to raise the median income and have more poor people working into it. The combination of jobs has to pay, on average, higher wages."
This is mostly a self-evident restatement of the problem (minus the minimum wage part).
"I know why wages are stagnant, there aren't enough jobs that pay more!"
Duh.
Posted on 9/29/14 at 5:09 pm to TT9
How the hell does raising the minimum wage grow the middle class? Minimum wage earners, by definition, are the lowest income earners. Clinton commits the same asinine fallacy as so many others: thinking government decree can somehow increase wealth.
Posted on 9/29/14 at 5:16 pm to HailHailtoMichigan!
I am no economics professor, but if we were to raise the minimum wage to say $15.00/hr doesn't that mean companies would either have to cut jobs or raise prices in order to be able to afford the new bottom line?
Posted on 9/29/14 at 5:18 pm to RollTide1987
Yep.
Posted on 9/29/14 at 5:19 pm to RollTide1987
I'm all for raising min wage. Maybe it will get my wife to making sandwiches again instead of depending on others to make them for her.
Posted on 9/29/14 at 5:21 pm to RollTide1987
I would take raising the minimum wage with lowering corporate income tax. Chances of seeing corporate rates go down under this administration? Nil.
Posted on 9/29/14 at 5:30 pm to Retrograde
Serious reduction of the corporate rate would benefit everybody in the country.
Posted on 9/29/14 at 5:35 pm to TT9
quote:
I Know Why American Incomes Are Stagnant
Barack Obama is POTUS
Tax code in noncompetitive with the rest of the world
Posted on 9/29/14 at 5:36 pm to TT9
TT9; dr voted down 
Posted on 9/29/14 at 5:36 pm to TT9
quote:Wat?
"One is the labor markets aren't tight enough, and we haven't raised the minimum wage as we should.
Posted on 9/29/14 at 6:04 pm to HailHailtoMichigan!
quote:
How the hell does raising the minimum wage grow the middle class?
Not sure, but why are you asking this question? Not one mention of the middle class in that article or this thread (except yours).
Posted on 9/29/14 at 6:08 pm to Sid in Lakeshore
Fine, but it is still laughable that Bill thinks that real income can be created by government decree. The fact is that wages are determined by production and the market, and in most MW jobs, production has not increased much over the past decades.
Posted on 9/29/14 at 6:09 pm to TT9
Someone on here posted a graph about a week ago showing how how the gap in wealth had grown basically every year since 1950. They were posting it to somehow support the idea for MORE government intervention into the economy to solve it.
I found this funny because if anything, the graph appears to directly correlate to the growth of government inversely. IE, as our government has become ever more regulatory and ever more of a nanny state, the graph showed the lower classes sharing in LESS of the accumulated wealth. Hmmmmmmm
A caveat. Let's be fair and also point out that another reality is that in 1950, the rest of the world was recovering from WWII while our economy boomed practically unfettered by competition. Our lower classes are simply seeing what happens when the rest of the world's workers compete with them.
We can whine all we want about that last reality but, it's a reality that government aint gonna fix and will just screw shite up more if they try.
I found this funny because if anything, the graph appears to directly correlate to the growth of government inversely. IE, as our government has become ever more regulatory and ever more of a nanny state, the graph showed the lower classes sharing in LESS of the accumulated wealth. Hmmmmmmm
A caveat. Let's be fair and also point out that another reality is that in 1950, the rest of the world was recovering from WWII while our economy boomed practically unfettered by competition. Our lower classes are simply seeing what happens when the rest of the world's workers compete with them.
We can whine all we want about that last reality but, it's a reality that government aint gonna fix and will just screw shite up more if they try.
Posted on 9/29/14 at 6:10 pm to TT9
quote:
"One is the labor markets aren't tight enough, and we haven't raised the minimum wage as we should
Are these supposed to be related?
So, if the labor market isn't tight enough... why are we allowing so much immigration?
Posted on 9/29/14 at 6:12 pm to TT9
quote:NC Tigah: I Know Why American Incomes Are Stagnant.
Bill Clinton: I Know Why American Incomes Are Stagnant
At same time the US maintains the highest Corporate Taxes in the entire world, hemorrhaging jobs overseas, 25% of Americans in the 24-54y/o age group are unemployed. TWENTY-FIVE PERCENT!
Posted on 9/29/14 at 6:42 pm to TT9
So bill is saying incomes are stagnant bc income hasn't risen? He has certainly mastered the obvious.
Posted on 9/29/14 at 6:44 pm to TT9
He's a dumb commie POS like you and Obama.
The reason the wages are stagnant is apparent to everyone but commie pinkos.
When you allow millions of illegals to enter our country every year, you stagnate wages. ( Example : I had a nephew and uncle working in Birmingham a few years ago making 13 dollars an hour as carpenters, after 6 months they were let go. One of their co workers let them know a few days later that the boss hired 3 illegal Mexicans under the table for 6.50 an hour ) This B.S. is happening all over the country, also the more workers seeking jobs the less an employee can offer SUPPLY AND DEMAND.
Now you have the same SUPPLY AND DEMAND problem with unemployment. The work force per percentage of people is below 63 percent to the 100, the lowest in 40 years. When you have high unemployment, you have many people looking for few jobs, creating LOWER WAGES because of SUPPLY AND DEMAND.
Has not shyt to do with the minimum wage law, SHOWS YOU HOW STUPID Bill Clinton is.
The reason the wages are stagnant is apparent to everyone but commie pinkos.
When you allow millions of illegals to enter our country every year, you stagnate wages. ( Example : I had a nephew and uncle working in Birmingham a few years ago making 13 dollars an hour as carpenters, after 6 months they were let go. One of their co workers let them know a few days later that the boss hired 3 illegal Mexicans under the table for 6.50 an hour ) This B.S. is happening all over the country, also the more workers seeking jobs the less an employee can offer SUPPLY AND DEMAND.
Now you have the same SUPPLY AND DEMAND problem with unemployment. The work force per percentage of people is below 63 percent to the 100, the lowest in 40 years. When you have high unemployment, you have many people looking for few jobs, creating LOWER WAGES because of SUPPLY AND DEMAND.
Has not shyt to do with the minimum wage law, SHOWS YOU HOW STUPID Bill Clinton is.
This post was edited on 9/29/14 at 9:01 pm
Posted on 9/29/14 at 6:44 pm to TT9
quote:
we haven't changed the job mix enough
Just how does he plan on doing this? Sounds like Clinton wants the government to manage the job market and control the wages. I don't think that's such a good idea.
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