Wyatt earp
Diamond Member
- Apr 21, 2012
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Lol inflation depends on how high it is raised and how it is raised such as being indexed. Either way, if people make more money they SPEND more money. Consumer spending is 70% of our economy. This would obviously help the economy in the process.You’re pretending socialist aspects can’t be mixed with a capitalist model. I’m all for capitalism, but unfettered capitalism does nothing besides besides make the wealthy more wealthy. It serves no purpose in creating a strong middle class or to minimize poverty. Only through government intervention can the middle and poor class benefit.I’ve never understood what that phrase really means. There is never an explanation on how to do it.
Republicans of course automatically assume the extreme which is that the wealth would be radically distributed among the entire population which would eliminate the wealthy class of America and thus end capitalism as we know it. However, no prominent progressive has EVER suggested this. The issue on the left is the rising inequality between the middle class and wealthy class. We aren’t suggesting some naive, theoretical utopia where everyone lives off the same wealth regardless of their contribution to society and lives happily ever after. Republicans just assume that’s what lefties mean when we talk about wealth inequality because it makes for a convenient argument. It makes dismissing the leftwing ideology easy.
Of course, what lefties actually want to do is simply narrow the gap so that anyone working 40 hours a week doesn’t have to live in poverty. That’s it. That’s all lefties care about. In this current economy, that is impossible for 10s of millions of people. Why is that impossible? Because the top 3 richest people in the country own more wealth than the bottom 50% of workers.
Again, I’ll admit I don’t know how it should be done, but it needs to be done. Radical change is necessary. The last time someone could comfortably live off $10 per hour was in the 1960’s.
Here’s the problem lefties don’t understand because they fundamentally lack the basic understanding on how capitalism works. Under socialism, wealth is a finite thing. There’s no incentive nor basis upon which to create additional resources or wealth, so it’s limited. We saw it time & time again. But under capitalism, there is no finite limit. Competition & ingenuity drive the model. You can go on creating forever because the well never runs dry. This system is a proven winner time & time again. The idea isn’t to redistribute wealth, but rather generate additional wealth. Only one system does that...
Government has nothing to do with it. Raise minimum wage, and you create inflation. The $7.50 an hour worker who gets a raise from government to $15.00 an hour will find themselves right back in the exact same situation they started from because everything else will drastically increase in price. Then you will be demanding $20.00 an hour.
All you would really accomplish is more jobs leaving the state or country. Why do you think government promotes doubling the minimum wage? Because the higher wage you make, the more taxes you give to government. You're still dirt poor, but they really don't care about that.
Sure they can push wheel barrels full of money that's worth $10 bucks like they did in South America with hyper inflation..