Quote:
Originally Posted by TorqueDog
One of the vocalised demands in "Occupy New York" was a minimum wage of $20, with unemployment/welfare benefits equalling roughly the same thing.
Great. I'd love to pay $9 for a loaf of bread too. Or get paid $40k a year to sit on my arse. How fantastic would that be?  |
Thats the key and I talked about it on another site.
If minimum wage bumps to $20.00/hour besides planting 90% of the small businesses who suddenly can't afford help and can't afford to expand, the ripple effect across every industry would be massive.
Suddenly your happy meal would bump from $5.00 to about $8.00, your grocery bill would go from $100.00 to $125.00. Because Minimum wage goes to $20.00 all the people that were at $20.00 would suddenly want an increase to compensate and you'd get another massive ripple through the consumer goods areas, your $20,000 car would go to $22,000.
Basically we would get minimum wage to $20.00 an hour see an explosion of unemployment and then the same people would b$tch that $20.00 isn't enough and they need $25.00 to survive.
And the whole, Unemployment should be bumped, its almost like they expect to live comfortably off of unemployment. It's kept low because A) thats all thats affordable to the goverment, and B) you should want to get off of it as fast as possible, as in f%ck I can't live on this? And how are we going to pay for that? Lets hammer on the people that are making a decent to very good to very high end livings. I get that there's this expectation that mega taxing the rich and well off is the solution, but if you punish these people or over burden these people then all of a sudden you have these people not spending money and seeing their standard of living slide.
While the left laughed and chortled at the Reagan concept of trickle down economics, there's a real problem with the idea of trickle up economics as well.