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View Diary: Deficit reduction from Minimum wage ?? (11 comments)

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  •  There ABSOLUTELY would be (0+ / 0-)

    First of all you're talking about savings that were not there previously.  So the spending of those savings won't have an impact on the deficit but the reinvestment of those savings WILL.  

    First of all we have to invest in infrastructure or it will crumble and the costs of repair at that point will be significantly higher.

    Second, investment in infrastructure has been proven time and time again to have a significant return on that investment.  More jobs, less unemployment paid out, more money recirculated into economy, more taxes paid to gov't, better productivity and so on.

    Now need I remind you that all this would come at no cost since we're talking about spending money that was saved and was not originally part of budget deficit.  So if for every $1  spend on infrastructure we get back $.50 then that $.50 is pure profit.  If we realize a trillion dollars in savings as a result of increasing minimum wages and reinvest the money in infrastructure that means we actually reduced our deficit by HALF A TRILLION.    

    This is your world These are your people You can live for yourself today Or help build tomorrow for everyone -8.75, -8.00

    by DisNoir36 on Fri Feb 21, 2014 at 10:51:47 AM PST

    [ Parent ]

    •  Wow (1+ / 0-)
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      By that logic, why don't we spend $25 Trillion on infrastructure and have a GINOURMOUS Surplus?!  Awesomeness!

      ....remind me never to let you work on my department's budget.

      Красота спасет мир --F. Dostoevsky

      by Wisper on Fri Feb 21, 2014 at 12:55:30 PM PST

      [ Parent ]

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