Minimum Wage Topic

It's obvious where you're going with this. There isn't a shortage of capital in the country right now. There is, still, a shortfall in demand.
6/24/2014 11:32 AM
Goddam.  I lost count.   How many posts has BL made since he declared that there was nothing left to argue?
6/24/2014 11:44 AM
Posted by MikeT23 on 6/24/2014 11:44:00 AM (view original):
Goddam.  I lost count.   How many posts has BL made since he declared that there was nothing left to argue?
Probably less than the amount of times you responded to me after you "blocked" me.
6/24/2014 11:52 AM
I want you to say this out loud:

"I specifically created a username to argue social issues on a simsports internet site.   I post before I go to work, while at work, after I leave work and on the weekends."    If that doesn't make you feel a little weird, tell a co-worker or your wife.  
6/24/2014 12:09 PM
Posted by bad_luck on 6/24/2014 11:31:00 AM (view original):
Posted by tecwrg on 6/24/2014 11:29:00 AM (view original):
Are they investing with their low marginal utility money?
Sure
If investing is important to the economy, then how is the money being invested considered by you to be "low marginal utility"?

Seems a bit contradictory, doesn't it?
6/24/2014 12:26 PM
Posted by tecwrg on 6/24/2014 12:26:00 PM (view original):
Posted by bad_luck on 6/24/2014 11:31:00 AM (view original):
Posted by tecwrg on 6/24/2014 11:29:00 AM (view original):
Are they investing with their low marginal utility money?
Sure
If investing is important to the economy, then how is the money being invested considered by you to be "low marginal utility"?

Seems a bit contradictory, doesn't it?
From an individual perspective, what money is more useful, money that prevents you from starving to death or money that you use to invest?

Diminished marginal utility does not mean useless or not valued or OK to waste. It just means that it has a lower impact on an individual's life than high utility dollars.
6/24/2014 12:46 PM (edited)
MikeT my question was basically this, if the lower and middle classes get taxed more thereby not able to spend as much money on widgets and doodads does the economy not suffer?
6/24/2014 1:23 PM
Now further more if the economy suffers because of less money being spent by the entire bottom 50% of the population does it really make sense to go to a more regressive tax system that is in place today?
6/24/2014 1:25 PM
Finally if the bottom 50% get taxed less they will have more money to spend on doodads and widgets. What happens to the economy then? Is it only the bottom 50% that benefits from that? Can you not see that the top 1 or top 10 percent benefits as much as the bottom 50% because their investments increase in value?
6/24/2014 1:28 PM
I've seen some of you guys say that business will hire more if they are taxed less. That might be true, but I would hazard a guess that they will hire much more if they have higher demand for their product. And how do you do that? By giving the majority of the population more disposable income. Certainly not less which is what too many people here are prescribing (simply by taxing them more) This all seems pretty obvious to me. Now please Miket and tec if you could argue against these assertions I'd love to here it.
6/24/2014 1:33 PM
Yeah, I've answered that several times.   I've suggested that the tax money brought in by taxing illegals, illegally made money, foreign tourist dollars and eliminating loopholes for the rich will more than make up the money "lost" by taxing those who do not pay taxes an extra 15% or so on purchases.   People will figure out a way to make it work.   And, if I'm correct, the sales tax will go down from 23%(or whatever number was thrown out as the "average" amount taxed) due to the sources of untapped tax revenue.  Will there be an adjustment period?  Sure.   Omelet, eggs, you know the story.
6/24/2014 1:46 PM
I just did the math.   If the "average" person is taxed 23%, that's where I'd set the sales tax.    And, if the average person is taxed 23%, my paycheck is taxed more than that.  I'm definitely middle class.   I'd get a raise.   Good for the economy. 
6/24/2014 1:56 PM
Posted by bad_luck on 6/24/2014 12:46:00 PM (view original):
Posted by tecwrg on 6/24/2014 12:26:00 PM (view original):
Posted by bad_luck on 6/24/2014 11:31:00 AM (view original):
Posted by tecwrg on 6/24/2014 11:29:00 AM (view original):
Are they investing with their low marginal utility money?
Sure
If investing is important to the economy, then how is the money being invested considered by you to be "low marginal utility"?

Seems a bit contradictory, doesn't it?
From an individual perspective, what money is more useful, money that prevents you from starving to death or money that you use to invest?

Diminished marginal utility does not mean useless or not valued or OK to waste. It just means that it has a lower impact on an individual's life than high utility dollars.
If that money is invested in such a way that it creates more jobs to meet higher demand, that's a good thing for the economy, correct?
6/24/2014 2:16 PM
Posted by tecwrg on 6/24/2014 2:16:00 PM (view original):
Posted by bad_luck on 6/24/2014 12:46:00 PM (view original):
Posted by tecwrg on 6/24/2014 12:26:00 PM (view original):
Posted by bad_luck on 6/24/2014 11:31:00 AM (view original):
Posted by tecwrg on 6/24/2014 11:29:00 AM (view original):
Are they investing with their low marginal utility money?
Sure
If investing is important to the economy, then how is the money being invested considered by you to be "low marginal utility"?

Seems a bit contradictory, doesn't it?
From an individual perspective, what money is more useful, money that prevents you from starving to death or money that you use to invest?

Diminished marginal utility does not mean useless or not valued or OK to waste. It just means that it has a lower impact on an individual's life than high utility dollars.
If that money is invested in such a way that it creates more jobs to meet higher demand, that's a good thing for the economy, correct?
There is no shortage of capital. There is, though the problem is easing, a shortage of demand.

Demand needs to be boosted before we worry about meeting the demand. Increasing taxes on the vast majority of Americans (the poor and middle class) would cause a significant cut in demand.
6/24/2014 2:22 PM
You say there's no shortage of capital, which is provided from the upper class.  Yet you propose taking away some of that money from them.  You know, the "diminished marginal utility" money that you say they won't miss.

Why do you think that won't create a decrease in the amount of capital investment funding?  Demand is great, but if the capacity to meet those demands, i.e. creating jobs, is diminished, how is that good for the economy?
6/24/2014 3:11 PM
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