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re: In 100 words or less how can raising the min. wage help the middle class?**
Posted on 1/30/14 at 1:48 pm to Zach
Posted on 1/30/14 at 1:48 pm to Zach
quote:
Increase in MW give Mary 500 bucks a year more to spend.
Not when inflation kicks in. Goods and services go up to account for increase. That $500 quickly turns into much less. Mary is right back where she started without realizing it. Now poor Joe in the middle class didn't get that increase has a loss of revenue to account for the increase Mary got.
Posted on 1/30/14 at 1:49 pm to SpidermanTUba
quote:
Load of crap.
No more than saying raising MW a couple bucks will move someone from lower class to middle class.
Posted on 1/30/14 at 1:51 pm to Janky
quote:
No more than saying raising MW a couple bucks will move someone from lower class to middle class.
Right, because the last thing the poor need is money. If we cut the minimum wage in half they would surely all move up a rung in the ladder.
Posted on 1/30/14 at 2:49 pm to SpidermanTUba
so Obama can just magically erase poverty by giving them a little more per hour? Who'd have thunk it. Mankind has been struggling with what to do with the poor for years. And now here comes Obama with the solution. He really is messianic!!!
Posted on 1/30/14 at 4:25 pm to Jack Bauers HnK
quote:
If an increase in minimum wage gives Mary $500 extra, then $500 is missing somewhere else in the economy.
500 is being spent instead of where its more likely to be sitting in someone savings.
and spare me the BS line: "but the business owner will have it to invest in his business or buy a porshe..."
Bottom line is the top 1% save. The other 99% spend.
So the spenders spend, and the savers save profits from the spenders spending, and thats how wealth continues to accumulate to the top 1% and we end up with the massive wealth gap that exists which is a legit threat to the economy.
Yeah im sure ive oversimplified a very complex equation, but i find it disturbing that 1% own 99% of the worlds wealth, and the trend is only worsening.
BTW - im not pro-government handouts and giving shite to people who contribute nothing to society. But I would like to see a more reasonable cost and standard of living for hard working Americans.
did i go over 100 words?
frick.
This post was edited on 1/30/14 at 4:26 pm
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