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View Diary: The Myth of the Job Creator (50 comments)

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  •  Higher wages drive demand (1+ / 0-)
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    JerryNA

    Let's say BigCo comes out with a better tablet than all others. If wages do not go up, Joe refrains from buying something else to afford the tablet. No net increase in spending. But if wages go up, Joe will keep buying at the same rate AND buy the tablet, a net gain in spending. This seems to be overlooked in most or all discussions. Merely making a better widget will not increase spending if it merely replaces something else.

    Wouldn't it be cool to be a teabagger named Balzac?

    by armadillo on Sat Jan 05, 2013 at 01:45:21 PM PST

    •  minimum wage and middle class wages frozen (1+ / 0-)
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      armadillo

      The same people who brought us the never-ending tax cuts and job creator lies also brought us minimum wage and middle class wages frozen for the last 30 years.  When you count inflation, buying power has dropped for the lower ~80% of the country.  When the majority of our nation cannot afford to live well, then of course our economy suffers.  Production has risen, and the resulting profits all went to the top 1%.

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