Progressives always talk about mininum wage

[OohPooPahDoo]

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.

So Reagan gets saddled with what Congress did, but Clinton doesn't. Got it.

I didn't say anything about Reagan.

 

[The2ndAmendment]

Your chart looks like inflation took off with Nixon rather than the income tax.

BTW, it costs $1.08 today to buy what $1.00 bought in 2008.

Inflation Calculator: Bureau of Labor Statistics

You are correct, Nixon totally abolished the Gold Standard during his reign, it added fuel to an already raging fire; notice however, that the Gold Standard could never have been eliminated before Fiat Currency and the Federal Reserve were created (and the income tax to pay the interest on that fiat money borrowing).

 

[edthecynic]

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?

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.

Yes, it is. There was no surplus. They ... wait for it ... lied.

No, they raided the SS SURPLUS, which ran out in 2007. That is why in Bush's last fiscal year the deficit was $1.4 trillion and the GOP National Debt went up $1.4 trillion.

 

[kaz]

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.

Yes, it is. There was no surplus. They ... wait for it ... lied.

No, they raided the SS SURPLUS, which ran out in 2007. That is why in Bush's last fiscal year the deficit was $1.4 trillion and the GOP National Debt went up $1.4 trillion.

I like how Obama wasn't responsible for the first year of his Presidency becuase it was a bush budget, but W was responsible for a recession that started six months before he took office.

Reagan is responsible for the spending of a Democratic congress, but Clinton isn't responsible for spending by a Republican congress.

When you have consistent rules, Ed, let me know and we can talk.

 

[kaz]

He had a budget surplus.

Congress went over budget as they usually do.

So Reagan gets saddled with what Congress did, but Clinton doesn't. Got it.

I didn't say anything about Reagan.

Do you blame Reagan for the 80s deficits? Don't play games.

 

[Erand7899]

The key to minimum wage or not paying a living wage for your area is ....Who makes up the difference?

If you don't pay your workers a wage on which they can support themselves or their families, it is the taxpayer who steps in to pay housing subsidies, food stamps for medical care

THe business profits off of substandard wages and leaves it up to the taxpayer to make up the difference

There is no such thing as a substandard wage.

No individual member of a free society owes any other member of that society the means to support themselves or their families. It is the responsibility of every person to provide for their own support and the support of their own families.

No half way intelligent, sane individual would ever believe that they can support a family on a minimum wage job. It is not possible with the minimum wage at $7.50, and it would not be possible with the minimum wage at $15.00 or even $20.00.

In the Fifties, skilled workers made between $5,000 and $10,000 per year. Now, skilled workers make $40,000 to $50,000 per year, and they do not live one damn bit better than they did in the Fifties.

Does that give you a clue as to why raising the mimimum wage is a dumb idea? If not, look up the term "wage inflation".

 

[OohPooPahDoo]

So Reagan gets saddled with what Congress did, but Clinton doesn't. Got it.

I didn't say anything about Reagan.

Do you blame Reagan for the 80s deficits? Don't play games.

Did the budgets he proposed have deficits in them?

 

[OohPooPahDoo]

There is no such thing as a substandard wage.

If you change the definition of "substandard" - sure.

No half way intelligent, sane individual would ever believe that they can support a family on a minimum wage job.

No shit, that's the PROBLEM you moron.

In the Fifties, skilled workers made between $5,000 and $10,000 per year. Now, skilled workers make $40,000 to $50,000 per year, and they do not live one damn bit better than they did in the Fifties.

LOL? Really? Skilled workers in the 50's had color TV's? Cell phones? Computers hooked up to the internet? Mkay!!!

 

[The2ndAmendment]

What happened Libtards? I posted the graphs of inflation pre-1913 and you all changed to subject?

 

[JakeStarkey]

Yes, there are substandard wages, and those butt bums who support them.

 

[OohPooPahDoo]

What happened Libtards? I posted the graphs of inflation pre-1913 and you all changed to subject?

Now post a graph of economic growth and compare you moron.

 

[JakeStarkey]

What happened Libtards? I posted the graphs of inflation pre-1913 and you all changed to subject?

There are no libtards here, only contards and sensible people.

Now correlate the graphs and tell us what they mean.

And it had better be more than . . . there's inflation.

 

[Londoner]

What is borrowing money caused by?

Progressive Programs.

Reagan and Bush spent and borrowed more than double Carter and Clinton. The deficit is now shrinking under Obama whereas it exploded under Bush.

WWII...
Deficit spending during the build up of our war manufacturing was over 100% of GDP. But this spending had an immense multiplier effect through the explosion of jobs and the continuation of those jobs as we converted war manufacturing into domestic consumables which lead to the great postwar boom. The increase in economic activity allowed us to pay down the deficit fast until Reagan came along and put the nation back in hawk with no-bid defense give-aways like Star Wars.

Turn off talk radio and study history.

 

[Erand7899]

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.

Economic growth and inflation are not the same thing. Economic growth is good, inflation is not. Inflation means that the money you earn is worth less, and therefore you are not better off in any possible way.

The real value of an hour's work is not how much cash you get, but what you can buy with that cash. How many hours do you have to work to buy a loaf of bread, a pair of shoes, or pay rent.

 

[edthecynic]

Yes, it is. There was no surplus. They ... wait for it ... lied.

No, they raided the SS SURPLUS, which ran out in 2007. That is why in Bush's last fiscal year the deficit was $1.4 trillion and the GOP National Debt went up $1.4 trillion.

I like how Obama wasn't responsible for the first year of his Presidency becuase it was a bush budget, but W was responsible for a recession that started six months before he took office.

Reagan is responsible for the spending of a Democratic congress, but Clinton isn't responsible for spending by a Republican congress.

When you have consistent rules, Ed, let me know and we can talk.

The First Bush Recession started March 2001, Bush took office Jan 2001. But hell, the Right blame Clinton for what happened in Sept 2001 and blame Clinton and Carter for what happened Dec 2007. It seems Bush II never was actually a real president!

 

[OohPooPahDoo]

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.

Economic growth and inflation are not the same thing. Economic growth is good, inflation is not. Inflation means that the money you earn is worth less, and therefore you are not better off in any possible way.

That's not what inflation means. Inflation means prices are going up. One of the prices that goes up is the cost of labor. If my income goes up with inflation while my home debt or business debt or education debt remains the same, I benefit. Fuck shit you're an idiot.

 

[JakeStarkey]

The reactionaries of the far right took dumbfuck economics for unintelligent, useful tools.

The economic health of the USA resides in the working and purchasing powers of the American middle classes.

Right now, America is not very healthy economically.

 

[Erand7899]

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.

A budget is a planning document that can be, and usually is, manipulated to fit the demands of the moment. Anyone can write a budget with a surplus. Especially if one underestimates the amounts expected to be paid out in entitlement spending.

One can easily determine the lack of fiscal knowledge of anyone who touts the Clinton budget surplus. One can easily imagine they have trouble balancing their own checkbook.

BTW, the Clinton claim of surpluses "as far as the eye can see", was pure fiction put out by dishonest politicians that knew it was a lie when they said it. The rosy economic projections that claim was based on had ceased to exist almost a year prior to the claim being made.

 

[OohPooPahDoo]

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.

A budget is a planning document that can be, and usually is, manipulated to fit the demands of the moment. Anyone can write a budget with a surplus. Especially if one underestimates the amounts expected to be paid out in entitlement spending.

Is that what happened or are you making things up?

 

[JakeStarkey]

Erand is making stuff up, or he would be giving solid evidence.