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08:34 PM
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America Needs a Raise: The Case for a Higher Minimum Wage
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[quote:smilesun:MV8yMTA2NjcwXzM1NTA3ODMyXzM4N0Q0RkIw] [quote:||n||->0 12680882:MV8yMTA2NjcwXzM1NTA3Njk4XzI4RDk2MzJF] [quote:smilesun:MV8yMTA2NjcwXzM1NTA3NjUyXzY0QjlDNTND] [quote:Anonymous Coward 12680882:MV8yMTA2NjcwXzM1NTA3NDI1X0I2MTgxMjM2] [quote:smilesun:MV8yMTA2NjcwXzM1NTA3MzUyXzYyNzIwN0Q3] [quote:Anonymous Coward 12680882:MV8yMTA2NjcwXzM1NTA3MjQ2XzdEQzY5OEI4] Hey OP what the fuck is it to you? You live in a PIIGS nation. Worry about the shit in your own bunga-bunga shithole. [/quote] I live in America, Job in ITALY!!!!! [/quote] WOW That must be one helluva commute :captain: [/quote] Raising the minimum wage right now is more important than ever. Minimum wage increases stimulate the economy by increasing consumer spending, without adding to state and federal budget deficits. Consumer spending drives 70 percent of the economy, and increasing demand is key for jumpstarting production and re-hiring. A raise in the minimum wage puts money into the pockets of low-income consumers, who immediately spend it at local businesses. :Smiley: [/quote] you're neglecting marginal changes and their impact on the AD-AS model. never underestimate the power of infinitesimals and the negative externalities that accompany said changes. you did not respond to your bogus claim of living in the us but working in a PIIGS nation. you're a bullshiter plain and simple [/quote] Study this ... A raise in the minimum wage puts money into the pockets of low-income consumers, who immediately spend it at local businesses. :Smiley: [/quote]
Original Message
An economy that relies overwhelmingly on consumer spending can't afford to watch vast numbers of hard working citizens experience ever diminishing purchasing power.
Almost four million Americans earn wages at or below the federal minimum wage of $7.25 an hour, or nearly $15,000 a year if they work full-time. That is approximately $8,000 shy of the poverty threshold for a family of four. And given that more than half of workers earning the minimum wage or less are 25 or older, it is clear that many of these workers are trying to support a family on these extremely low pay. Contrary to widely held perceptions, most minimum-wage jobs are not held by young people who get better jobs as they age. Raising the minimum wage by just 85 cents a year for three years, plus indexing it to inflation, would directly lead to higher wages for an estimated 20 million working Americans, with another 10 million likely receiving raises as employers' pay scales adjust. And more than one quarter of the nation's children would see a parent's earnings increase.
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link to www.theatlantic.com
]
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