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The entire minimum wage argument is a red herring.
Only 3% of all hourly wage earners make the federal minimum wage or less and many of those are service workers who receive tips.
What massive inflation?
What massive inflation?
[MENTION=20412]JakeStarkey[/MENTION]
Since the Progressives created the Income tax and Federal Reserve in 1913, and transitioned to fiat currency (completed by 1933 with FDR's Gold Seizure):
Because it doesn't keep up with inflation.
Yet, inflation is the problem, not the wage.
What is (massive) inflation caused by?
Printing Money.
What is printing money caused by?
Borrowing money.
What is borrowing money caused by?
Progressive Programs.
----------------------------------------------------------
So Progressive Programs demands that we borrow, which means we print mass money, which means we get mass inflation, which means wages are weaker; then Progressives try to fix the problem by more government intervention, raising the minimum wage, cause more unemployment, therefore more welfare programs, therefore more borrowing, more money printing, therefore more inflation, therefore even weaker wages.
Rinse and repeat!
What massive inflation?
[MENTION=20412]JakeStarkey[/MENTION]
Since the Progressives created the Income tax and Federal Reserve in 1913, and transitioned to fiat currency (completed by 1933 with FDR's Gold Seizure):
We don't have "massive inflation", its quite modest and healthy inflation in fact.
W took the biggest surplus in US history, and turned it into the biggest deficit.
Inflation is never healthy.
2ndA, you are not an authority on anything.
Give us inflation rom 1813 to 1913, please.
W took the biggest surplus in US history, and turned it into the biggest deficit.
Then Obama blew W out of the water turning $300 billion deficits into $1.5 trillion deficits.
BTW, if Clinton ran a "surplus" then why did the national debt go up every year he was in office?
2ndA, you are not an authority on anything.
Give us inflation rom 1813 to 1913, please.
I'm betting its not much.
Same reason the GOP National Debt went up an average of $650 billion per year while Bush claimed an average deficit of $300 billion per year.W took the biggest surplus in US history, and turned it into the biggest deficit.
Then Obama blew W out of the water turning $300 billion deficits into $1.5 trillion deficits.
BTW, if Clinton ran a "surplus" then why did the national debt go up every year he was in office?
Inflation is never healthy.
Yes it is you economic imbecile. Inflation encourages investment and spending by consumers and business and it helps businesses keep the liquidity they need to pay employees and buy inventory. Deflation kills investment and spending and creates liquidity crises for business. Its BAD when a business loses revenues while its debts remain the same, and its BAD for mortgagees when their incomes go down while their debts remain the same. That should be obvious.
W took the biggest surplus in US history, and turned it into the biggest deficit.
Then Obama blew W out of the water turning $300 billion deficits into $1.5 trillion deficits.
BTW, if Clinton ran a "surplus" then why did the national debt go up every year he was in office?
He had a budget surplus.
Congress went over budget as they usually do.
Same reason the GOP National Debt went up an average of $650 billion per year while Bush claimed an average deficit of $300 billion per year.W took the biggest surplus in US history, and turned it into the biggest deficit.
Then Obama blew W out of the water turning $300 billion deficits into $1.5 trillion deficits.
BTW, if Clinton ran a "surplus" then why did the national debt go up every year he was in office?
And give us a graph from 1813 to 1913, please, and you will have something to compare.
Inflation is never healthy.
Yes it is you economic imbecile. Inflation encourages investment and spending by consumers and business and it helps businesses keep the liquidity they need to pay employees and buy inventory. Deflation kills investment and spending and creates liquidity crises for business. Its BAD when a business loses revenues while its debts remain the same, and its BAD for mortgagees when their incomes go down while their debts remain the same. That should be obvious.
Inflation makes each dollar worth less.
The rest that you explained is due to Keynesian economics, and the UNCERTAINTY of the value of currency, because it is not ANCHORED to a commodity, like Gold.
Your chart looks like inflation took off with Nixon rather than the income tax.What massive inflation?
@JakeStarkey
Since the Progressives created the Income tax and Federal Reserve in 1913, and transitioned to fiat currency (completed by 1933 with FDR's Gold Seizure):
