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The coming Minimum-wage increase
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11-01-2007, 10:54 PM
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MaickiP
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Oct 2005
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What a bunch of stupid arguments against minimum wage increase. Minimum wage increase creates buying power and buying power creates jobs. It has always worked as intended. There's nothing complicated about this.
Keep in mind...
The richest 2 percent of adults in the world own more than half the world's wealth, according to a new study released by the Helsinki-based World Institute for Development Economics Research of the United Nations University.
OneWorld U.S. Home / Today's News - Richest 2 Percent Own Half the World's Wealth
Consolidating wealth into a few hands is what creates economic pitfalls because buying power is reserved for the few and demand to supply the 'haves' means loss of business because the 'have-nots' can't create enough buying power to create new jobs.
As the article also points out, we are living in a world of absurd misproportion when we speak of wealth. To assume upping the minimum wage would hurt an economy that is already tilted at the scales is unfounded.
And yes, people do live on minimum wage, I was one of them when I was working in the plastics factory in El Paso. Minimum wage is real and people do have to live off of it.
But to be honest, there is nothing more to discuss. What is done is done and it will prove to be beneficial in the short term and long term of things just as it always has.
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