RE: The O'Crappy Factor.
November 27, 2014 at 12:05 pm
(This post was last modified: November 27, 2014 at 12:05 pm by Ryantology.)
Jenny A Wrote:Actually, I'm all for a livable wage. I suspect strongly though, that we differ significantly in what we think is livable. We also differ on the best way to accomplish a living wage for all. Raising minimum wage too high reduces the number of jobs. It's simple supply and demand. Higher prices reduce demand.
Any business that reports a profit, yet has employees on the public dole, is a business stealing from its workers, as well as the taxpaying public.
A living wage gives more people more disposable income. They don't have to spend every penny on necessities, so you have a lot more people spending a lot more money on stuff that stimulates the economy. Demand naturally rises when you have more people with more money. Competition increases as businesses strive to meet greater demand. Prices fall and employment increases. Oh yeah, and we spend less on hated entitlements.
The idea that the health of our economy relies on employers keeping the majority of what workers produce is bunk, and our insistence upon preserving this system is only making things worse for everybody.
