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View Diary: What Would You Have the President Do? Part II, Getting to Full Employment (6 comments)

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  •  What is the salary or wage? (0+ / 0-)
    Getting to Full Employment
    So everyone has a job but at minimum or slightly higher than minimum wage.

    Then what?  

    •  Actually, (1+ / 0-)
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      gooderservice

      the JG wage rates I quoted above are much higher than today's minimum wage, also the JG would offer good fringe benefits as well. To compete private business would have to kick up its compensation levels considerably to hire wage earners. Of course, all this would create a big spur to aggregate demand and economic growth, along with an improvement in the incomes of both middle class and poor workers. Think about it Walmart would have to pay in excess of $17 per hours in many urban and suburban places and it would have to spend 30% more than per hour to over the fringe benefits.

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