It's high-time that we doubled the National Minimum-Wage in America!

Well, you show your irrelevance. Reagan cut the top bracket from 70% to 50%. In 1988 it briefly fell to 28%. Then in the 1990s it rose to 39.6% only to fall to 35% in 2003 and then rise again to 39.6% in 2012. And all through this the average employee saw mostly a decline in his tax burden.

I won't call taxes high until the top rate hits 70% again, but I think there needs to be a new bracket or two and the top rate needs to be even higher than 70%. We have a minimum wage. I think we should also have a maximum wage above which taxes are mostly confiscatory.

 

People like you who complain about taxes and only want to take, take, take, are responsible for debt. Taxes should have been adjusted to amortize the costs of the bailouts by taxing those who were bailed out.

 

Notice how the bailouts were given to the banks, rather than the pension funds and investors who were misled and cheated by those banks.

Should have let the banks fail.
That doesn't mean the government couldn't have swooped in and guaranteed people's accounts 95 cents on the dollar.

 

And the money was immediately given to bank CEOs and top officers as bonuses. It would have been a different story if it had been taxed at some high rate.

And there would have been a run on banks, the banking system would have collapsed, other countries would have also taken action that would not be good for US. The mistake was in letting them get so large. It's not like they didn't know better.

**IF** the government would do that.

 

The subject was trickle down. Your hero did 8 years of trickle down on steroids while you clapped

 

70% is sadistic

 

No, the subject was doubling the minimum wage. But believe me, I didn't clap. You are so partisan that you can't understand anything else, like most righties. If I oppose Trump and oppose the right, then "it HAS TO mean that I love the Democrats!!!!" Uh, no. Wrong guess.

 

And your kind of opinions is what got us into the mess. So your evaluation of a 70% top bracket rate means little.

 

What's my opinion?

 

27 states have minimum wages that are higher than the federal minimum. Perhaps the federal minimum ought to just be abolished and let the states decide.

 

Not a bad idea but the Lib, he's like all power center in federal government Not state govt. it's anti-American but that's what liberals want

 

Obviously what got us into this mess with live socialism we know that capitalism works far better ever heard of east west Germany or Cuba Florida

 

Why not quadruple everyone's wage???it is no big deal to past a law why pussyfoot around???

 

That would truly ignite inflation, particularly in a tight Labor-market.

For the Employment-to-population Ratio to get back to 63% with an Unemployment Rate at 4.9%, it means non-workers before must start participating again. If you don't work, but can work, you are not counted in Employment part but you are counted in the Population part of that Ration.

And, for the moment, it is significant part of the American population who, before the Great Recession, were indeed working ...

 

So a raise in the minimum wage ignites inflation?

 

In fact inflation goes up only when money supply goes up not when wages go up this is Econ 101

 

A good idea we could put a stop to inequality so easily don't know why we haven't done it already

 

It could, but it need not. It depends upon how it is applied.

Raising the MW from $7.25 to $15 over a period of seven years will have little impact upon costs. Though, of course, they will rise generally as a result. I doubt the inflation will be more than 0.5% per annum.

But giving people additional money also means most of it at the bottom-levels will go to Consumption - which is how it will boost/sustain economic growth.

There are other parameters as a consequence, too many to address here ...

 

You do know the poster was being sarcastic right?

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Econ 101. you could give people at the bottom trillions and it would not increase economic growth. There is no free lunch! Economic growth from stone age to here came from the supply new inventions. Now you know what supply side economics is. Think about it!!!!!

 

not if he was a liberal!! Nancy Pelosi assured us food stamps, not Republican inventions, caused economic growth!!!

At a press conference in her home town of San Francisco, Pelosi explained that the program's multiplier effect –the amount of money generated in the local economy as the result of the subsidy– far exceeds the nearly $60 billion spent this year by the federal government and is a sure-fire way to stimulate the economy. For every dollar a person receives in food stamps, Pelosi said that $1.79 is put back into the economy. The U.S. Department of Agriculture cites an even higher figure of $1.84.

"It is the biggest bang for the buck when you do food stamps and unemployment insurance. The biggest bang for the buck," she said.

 

How does a raise in the minimum wage cause inflation? By what mechanism?

 

good idea!!! we don't want to give Elon Musk too much incentive to save the planet with electric cars or cure cancer when we need his money for more important things like crippling even more people with more 4th generation welfare!!!! See why we are positive that liberalism is based in ignorance? Is any other conclusion possible?

 

Costs of production in a market-economy can be passed through to the consumer. Not always, but often. It depends upon the nature of the market-economy at any given time. When it is weak, such higher costs will put a further break on Consumption that worsens the economy.

Which is why it is important to have a "gradual process" multi-year application by which the Minimum Wage is augmented, and why I suggested such ...

 

Have you ever ran a lemonade stand as a kid?

If labor and overhead cost to much you say forget this and go watch the Brady bunch on television.


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