[DMCForum] Re: The Constitution Is an Illusion Part II

["ryanpwright" <yahoo1@xxxxxxxxxxxxxx>]

>> Your minimum wage arguments are the typical disinformation 
>> you hear from right wing media.

That's funny, I don't pay attention to right wing media. Fact of the
matter is, I don't pay much attention to media at all these days. I
don't get the paper, I don't have cable TV, I don't watch the news, so
it's highly unlikely that I'm just spreading "disinformation" that I
heard from "right wing media."

>> 1. People at the low end of the economic scale spend 
>> 100% of any increase in wages.

Which explains why they are at the low end of the economic scale. If
they had any sense, they would save or invest their money for the future.

>> 2. Moneys given to high income people are not spent. They 
>> are saved to increase net assets or to accumulated more 
>> assests. AKA buy rental properties, stocks, etc. This money 
>> is not reinvested in the economy and has no multiplier.

Buying properties isn't reinvesting in the economy? Wow - that's news
to me.

>> 3. Ever heard of the Earned Income Credit? What this is 
>> tax money given to people whose wages as so low they are 
>> below the poverty level AKA a family of four -wife and 
>> 2 kids. Well, if the minimum wage was raised, the need 
>> for the EIC would disappear.

There is no NEED for the EIC. It's simply another government handout -
a redistribution of wealth from those of us who pay taxes to those who
do not. It should be eliminated.

>> Labor is less than 25% of the cost.

So? You want to double their labor costs. Now it's between 20% and
50%. Suddenly my double cheeseburger costs $3 instead of $1 because
the U.S. government is forcing retailers to subsidize those who won't
go out and get a better job. The retailers pass the costs onto their
customers and now it's nothing more than a tax on the rest of us -
welfare with corporations as middle men.

Furthermore, have you considered the impact on inflation when everyone
with a job is guaranteed twenty grand plus per year?

-Ryan

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