The Rabbi
Diamond Member
- Sep 16, 2009
- 67,733
- 7,923
Well no. No economist except idiot Keynesians believe that. We've had years operating under just that fallacy and it is a fail.It's laughable to you because you have the mentality of a school girl. Consumer spending drives the economy. Any economist will tell you that.It's actually you who has a laughable command of economics.How are you so dumb to not understand the effect of consumer spending?It will be the charm because people can at least try to live off 10/h. Can you live with a wage under 10 per hour? It will also be closer to keep up with inflation. It will lift 16 million people out of poverty and any jobs lost will be regained with more through the increase of consumer spending.Why are wages low? Because there are more people looking for work than employers. Check out NorthDakota where average starting wage is 10-17/hr. It used to be sort of like that when Bush was president.
We've had 3 increases in min wage in the last 10 years or less. How much better off is anyone? Why will this be the charm?
Thanks, Obama.
More UNSUPPORTED keynesian BS.