The Motley Fool Discussion Boards
Investment Analysis Clubs / Macro Economic Trends and Risks
|Subject: Re: Disability: How the unemployed survive||Date: 3/24/2013 12:14 PM|
|Author: rubberthinking||Number: 418746 of 446685|
You made the biggest point of them all and I am surprised no one wants to discuss it or has seen it.
People on minimum wage make $15k per year and have no benefits.
But bankers make tens of millions per year and have mansions.
Most people in the middle class are starting to wonder what would happen if in relative terms minimum wage was raised to a livable wage.
There are certain benefits to raising minimum wage.
- when done across the board demand for the goods of local small businesses rises substantially.
- people get a much fairer pay for their labor.
- businesses that can not afford minimum wage go under leaving the market to much more successful companies....that is huge....
- throw in some form of health care and you actually start to have economic justice in our country. I know not everyone is for that.
- possibly more people working and not taking any flavor of welfare be it disability or state sponsored welfare.
- unemployment from all of the above shrinks.
- believe it or not if minimum wage rises so does the lower part of the income ladder. I know politically smaller earners with their own businesses have been bamboozled to believe they simply can not afford for minimum wage to go up, but in fact their wages out of their companies would be booosted. Income is on a ladder. It is not isolated to one guy with a hammer somewhere pounding nails.
So who does this cost? Well if more people have more money more businesses do better. But there is competition out there, so it costs the businesses that are less able to compete. The same eejits who generally vote for the wealthy to have tax breaks and hope for a tax break trickle down effect. There is no such thing as a trickle down tax break effect. That my friends is a redistribution of wealth away from the middle class and the working poor and up to the the major corporations. As is welfare and disability payments along with seniors getting social security. All of those govt payments are not much for the individual, but they en mass are great for corporate America, our masters.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|