Skip to main content

View Diary: Thoughts on the Minimum Wage: Evidence, Opposition, and Historical Context (23 comments)

Comment Preferences

  •  No (2+ / 0-)
    Recommended by:
    Youffraita, Captain Pants

    That's only one part, and it's dangerous to generalize a concept like that.

    So you have to compare the "more businesses make" versus the "more businesses will pay", and also the consumer-level effect.

    Otherwise we would just increase wages for everyone and all people and businesseswould benefit -- there are constraints that have to be considered case by case, specifically price levels/inflation if you take that idea to the absurd extreme.

    I did go over this though in the EPI study cited which took the position that such a minimum wage increase would be like a covert stimulus plan.

    In the current environment though, it wouldn't do much to hurt the aggregate, and would actually be a net benefit, since inequality and deflation are two problems facing the economy at the moment.

    Deficits don't matter, jobs do.

    by aguadito on Fri Feb 15, 2013 at 12:09:26 AM PST

    [ Parent ]

    •  Obama's stimulus plan worked well (1+ / 0-)
      Recommended by:
      Captain Pants

      to avoid the deflationary spiral we were facing a few years ago.

      But when Congress let the payroll tax cut expire on January 1, that deflationary spiral arose again.

      The NYT has already reported on the deleterious effects of letting the payroll tax cut expire.

      Closer to home?  I'm living it; so are my customers, and my friends.

      Meanwhile, we have a GOP gov. who wants to unemploy as many state employees as he can.

      Deflationary spiral, much?  If the GOP gets their way...look out, Japan, we can out-deflation you.

      Irony takes a worse beating from Republicans than Wile E. Coyote does from Acme. --Tara the Antisocial Social Worker

      by Youffraita on Fri Feb 15, 2013 at 01:01:23 AM PST

      [ Parent ]

      •  The problem was letting Wall Street off the (3+ / 0-)
        Recommended by:
        dfarrah, Captain Pants, 6412093

        hook for the economic collapse. That revived supply-side economics and it has pretty much recovered intact.

        Republicans now wield the same old, tired, failed arguments and policies as if the collapse never happened and Wall Street and concentration of wealth policies, including de-regulation, were not to blame.

        Until supply-side is joined in battle by the SEC, DOJ and Democrats in Congress, the Class War will continue apace and the bottom 80% will continue to lose economic security, power and influence.

        And that will not happen until the left confronts the center, which gives the Right and supply-side economics all of its oxygen, in D.C. and on Wall St. in an unconditional and unrelenting way. A couple of million organized people in the streets of D.C., a city of 660,000, applying indefinite pressure, would bring about more change in 3-4 months than an infinite number of election cycles. Because the center will always join the Right to serve the plutocracy and maintain economic injustice.

        The Class, Terror and Climate Wars are indivisible and the short-term outcome will affect the planet for centuries. -WiA "When you triangulate everything, you can't even roll downhill..." - PhilJD

        by Words In Action on Fri Feb 15, 2013 at 07:16:36 AM PST

        [ Parent ]

Subscribe or Donate to support Daily Kos.

  • Recommended (129)
  • Community (63)
  • Bernie Sanders (44)
  • Elections (35)
  • Hillary Clinton (28)
  • 2016 (27)
  • Culture (27)
  • Climate Change (26)
  • Civil Rights (23)
  • Environment (22)
  • Science (22)
  • Labor (18)
  • Law (18)
  • Barack Obama (17)
  • Spam (17)
  • Media (17)
  • Republicans (17)
  • Trans-Pacific Partnership (15)
  • White House (14)
  • International (13)
  • Click here for the mobile view of the site