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In Reply to: Not "missing" that point... posted by dark_dave56 on March 30, 2021 at 06:07:07:
Fair enough...but it seemed like your thesis was why make just 2% happy when negative effects will tip the apple bucket. That tip of the apple bucket is the purpose of raising minimum wage. It gets cash in consumers' hands...you know, like the purpose of the current stimulus. Minimum wage isn't anywhere near keeping pace with inflation. Wealth is just being sucked up like a vacuum cleaner by the 1%.
Look at the GDP numbers for the 1960s that someone posted here the other day when the top tax rate was 70% and minimum wage kept pace with inflation.
You may have a point in the covid economy, however, since a higher wage hampers new business opening. But they should have started a slow climb to $15/hr six or seven years ago. They could at least implement a federal plan starting at--say--$11.50/hr now and raise it to $15.50 over the next three years.
But instead, everyone is arguing about the effects of a $15/hr minimum wage. (And no, I'm not pointing a finger at you.) And nothing gets done.
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Follow Ups
- RE: Not "missing" that point... - MaxwellP 03/30/2108:25:48 03/30/21 (0)