Renzatic on 9/2/2020 at 22:24
I don't know why I keep doing this, but I can't help but get involved in Facebook political arguments. It's like I hate myself or something, and I expose myself to dumb as punishment.
Based on evidence I've gathered, Bloomberg, a multibillionaire who made his fortune selling analytical hardware and software to Wall Street, is a crypto-communist who hates capitalism and America. And Sanders, the high strung Jewish guy who's on the low end of barely rich and isn't particularly liked by anyone in Washington, is a neofascist, because Hitler apparently rose to power by selling the German people on the wonders of universal healthcare.
The only person who can stop these two great evils from rising to power, and destroying our country and way of life is one Donald J. Trump.
If you all think I'm exaggerating, I'm not. People actually believe this shit.
And they vote.
jkcerda on 9/2/2020 at 22:33
link to your fb profile......
anyways. my liberal friends are butt hurt realizing trump is going to win come 2020 due to the simple fact currently they have nothing to offer, no one in their right mind is going to trade a good economy for more taxes for the "free" shit all the socialist are promising.
Renzatic on 9/2/2020 at 22:50
It's funny how one of the biggest complaints made about the economy during the Obama administration was that it only benefited the high end, and didn't help the lower and middle classes. Trump's economy is an extension of that. He's made no policy changes that effect anyone outside of Wall Street. Even his tax breaks only helped the middle class for the first two years. Yet he's expected to win based upon the same metrics that Obama was derided for.
What has Trump done to combat crippling student loans? Nothing. What has he done to address the costs of healthcare and medication? Not a damn thing. What has he done to improve our suffering schools? Zilch.
What he has done is deregulate Wall Street, and cut taxes for the upper crusts of the economy, which could help boost a few 401k's, but other than that, it doesn't benefit the average person.
There's more to the economy than the Dow Jones.
jkcerda on 9/2/2020 at 22:55
who the hell complained about that?
I get some of the liberal arguments "but but but they are min. wage yobs, not living wage yobs" blah blah blah. anyone who does NOT own a damn business and yaps about "living wage" is living in a feel good liberal world. the minute you have a "living wage" shit goes up making that wage no longer something you can live with. when you keep raising minimum wage everything goes up far more than what your raise was. it's a shit cycle because too many liberals pretend the rich are just going to take a hit and not raise prices to compensate for higher wages.
Renzatic on 9/2/2020 at 23:15
Raising the minimum wage will lead to a price hike, because employers do have to compensate for the loss in profits they'll be facing with a more expensive work force. Thing is, it won't be a massive one. Maybe 50 cents at most on most regular goods.
This argument has been made literally every single time the minimum wage has been raised to compensate for inflation in the past, and it has yet to break the economy. It'll do exactly what it's done previously. You'll see a hit in the short term, which will quickly be followed by a larger group of people with a larger amount of discretionary income, who will then spend more, then feed more into the economy. It'll bounce back fairly quickly.
Hell, we're already paying more than that for most goods due to Trump's trade wars, all without any direct benefit to the average American. Has it hurt the economy? Not one goddamn bit. So why is it that paying more to compensate for the cost of tariffs is perfectly acceptable, but paying more for goods due to giving our labor force more money to spend is somehow the worst idea ever that'll end up burning the economy to the ground?
jkcerda on 9/2/2020 at 23:21
let me rephrase, you got a $1 dollar raise.
everyone compensated for that $ and then some making your "raise" worthless, hell you now basically make less because EVERYTHING went up. trump just fucked people over and they will feel it AFTER they do next years taxes, our with-holdings decreased making people get a bigger paycheck, draw back to it is when you do your taxes you will pay up if you did not adjust for it. sneaky orange looking MOFO.
Renzatic on 9/2/2020 at 23:46
The only places where you'd see a price hike would be those places that pay minimum wage. Grocery stores, fast food restaurants, dollar stores, places like that. Basically, retail. There would be a markup, though it wouldn't be so great as to entirely nullify whatever gains were made due to the base wage increase. Minimum wagers would still have more spending power overall, especially when you start to account for things that won't go up due to a higher minimum wage, such as rent and utilities that they can now more easily afford.
If you want a real world example, all you have to do is look at Seattle to see how they're doing. There was some reshuffling among labor in the short term, but it didn't lead to any significant price increases over time like most naysayers predicted, and ended up strengthening their economy in the long term.
Of course, just because it worked for Seattle doesn't mean it's guaranteed to work just as well everyone, but their example does a good of job showing that the assumed pitfalls are far from being a given.
(
https://www.washington.edu/news/2019/02/06/two-new-studies-published-about-the-seattle-minimum-wage-ordinance/)
(
https://intpolicydigest.org/2018/01/14/seattle-s-15-minimum-wage-experiment-is-working/)
(
https://publicpolicy.wharton.upenn.edu/live/news/2303-effects-of-the-15-minimum-wage-in-seattle/for-students/blog/news.php)
jkcerda on 9/2/2020 at 23:48
Quote Posted by Renzatic
The only places where you'd see a price hike would be those places that pay minimum wage. Grocery stores, fast food restaurants, dollar stores, places like that. Basically, retail. There would be a markup, though it wouldn't be so great as to entirely nullify whatever gains were made due to the base wage increase. Minimum wagers would still have more spending power overall, especially when you start to account for things that won't go up due to a higher minimum wage, such as rent and utilities that they can now more easily afford.
If you want a real world example, all you have to do is look at Seattle to see how they're doing. There was some reshuffling among labor in the short term, but it didn't lead to any significant price increases over time like most naysayers predicted, and ended up strengthening their economy in the long term.
Of course, just because it worked for Seattle doesn't mean it's guaranteed to work just as well everyone, but their example does a good of job showing that the assumed pitfalls are far from being a given.
(
https://www.washington.edu/news/2019/02/06/two-new-studies-published-about-the-seattle-minimum-wage-ordinance/)
(
https://intpolicydigest.org/2018/01/14/seattle-s-15-minimum-wage-experiment-is-working/)
minimum wage went up for those at the bottom of the chain, the rest of those NOT making min wage did not get an increase............
Renzatic on 9/2/2020 at 23:53
Quote Posted by jkcerda
minimum wage went up for those at the bottom of the chain, the rest of those NOT making min wage did not get an increase............
Which sucks for them in the short term, but we're not worried about their feelings. We're more concerned with the overall economic impact of a higher minimum wage.
...which could work to benefit higher earners eventually, since having more people spending more of their paycheck on things besides the bare necessities leads to more money flowing through the market, which presents more opportunities for employers to expand, which benefits their workers with more jobs, and higher wages.
That's Capitalism 101. Nothing exists in an isolated bubble.
jkcerda on 9/2/2020 at 23:59
you are just trying to make me feel better about not getting a raise :mad:
