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Minimum Wage Increase...Yes or No?

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posted on Feb, 17 2014 @ 11:37 AM
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reply to post by Hoosierdaddy71
 


You really had my hopes up for a while there. : )




posted on Feb, 17 2014 @ 11:40 AM
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WeAreAWAKE

VictorVonDoom
Think of the economy as a car that's burning oil. Raising the minimum wage is like adding a quart. It needs to be done to keep it going, but it doesn't change the fact that you need a complete overhaul. You'll just have to do it again later, and the problem only gets worse.


And correct me if I'm wrong...the longer you put off the overhaul, the more expensive it is and you still had to pay for the extra oil. It doesn't correct the problem and ends up costing more.


Exactly.

The root problem is a fiat currency that is steadily inflated. As Federal Reserve Notes continue to lose value, wages have to be increased to maintain the standard of living. The Fed can inflate the currency at will, but it literally takes an Act of Congress to raise wages.

As a result, the wage you worked for today is less than the wage you worked for yesterday. If you try to save money, it will lose value. To maintain the value of your money, you are forced to play rigged casino games like the stock market or other "investments."

One might think it would help to tie the minimum wage to the inflation rate. But that would depend on the Federal Government posting honest economic numbers. I'm certain that no one on ATS believes that would happen.

The only real solution I see would be to end the agreement between the US and the Federal Reserve Bank and go back to Constitutional money. That won't happen because the current fiat currency system is designed to make wealth flow from the bottom to the top, and it's working very well.

Maybe some industrious lawyer can come up with a breech of contract class action lawsuit against the Federal Reserve. I think it could be argued that the Fed has not done what it was contracted to do.



posted on Feb, 17 2014 @ 11:51 AM
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WeAreAWAKE
If I'm not missing something, that is 21 BILLION DOLLARS. Where exactly is that money coming from?


Anyone can quibble with the numbers themselves, but your overall point holds. The $21 billion will come from price increases. It amounts to enforced inflation, and where making $5.00 an hour was quite sufficient in 1977, such an increase will trigger calls for (wait for it) an increase in the minimum wage.

The Minimum Wage has been called the "Youth Unemployment Act" for good reason. Employers are reluctant to hire young workers with no experience when the minimum wage "allows" them to hire adults. If you REALLY want to stimulate job growth and move to a full-employment economy, you'd eliminate the minimum wage altogether. It is an artificial construct that retards job growth.



posted on Feb, 17 2014 @ 01:34 PM
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reply to post by WeAreAWAKE
 


I wrote the below, many weeks back in another thread and I stand by it.


13th Zodiac
reply to post by xuenchen
 


Unions, jobs, and wages will be at the forefront of everything this year. Unions will swell and become strong. There will be scandals to discredit them and shut them down. Verbally you will hear of a push to increase wages . The reality is wages will drop significantly. US wages will drop due to imigration. Australian wages will drop to compete with work for the dole. More jobs will off shore with the TPP. By November both Countries will both have Australian and American Springs. Violence is comming.




posted on Feb, 17 2014 @ 03:20 PM
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I haven't really given much thought to this so bare with me, but what about mandatory wage increases only for companies that have a profit over a certain amount, such as wal-mart. I am sure there are plenty of problems but and idea worth discussing anyways.



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