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Metropolitan DC Local Politics
Reply to "$25 min wage in DC"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Sound economic policy, which this is not, is simply beyond the grasp of the average or below average person. [/quote] Why don’t you explain it to us sweetheart? [/quote] This will just drive prices up for everyone. If people at the very bottom now make a minimum of $25, then everyone else's wages will go up accordingly because everyone will say what about me. If everyone suddenly has a lot more money to spend, then prices for everything will also go up accordingly. A pint of beer will cost $25 and the dishwasher making $25 an hour will not be any better off. [/quote] Just as I suspected, a bunch of BS completely made up by you. Got forbid people on the bottom make a living wage. Have to keep those suppressed so you can have cheap beer. [/quote] Sweetie, this is how inflation works. [/quote] It's really not. you have no idea what you're talking about. Raising minimum wage puts more money in people's pockets, which they pump into the economy. [/quote] Raising minimum wage puts more people out of a job. The number of jobs isn’t fixed. Only jobs that produce $25 of value per hour will exist after the transition and any laborer who’s labor does not produce value at that rate will be left out[/quote] No, it gives people enough money so I don't have to subsidize them with my taxes. There is a reason so many people working these jobs rely on SNAP and medicaid to get though life. It's people like you who don't want to raise the min wage OR give them benefits that are the problem. [/quote] Where do you think the money comes from? It comes from a business owner who makes the evaluation: can I take the labor produced by person X and sell the output for enough to pay person X and make a profit. If the answer is no, then the business owner doesn’t fill the position. Except for government jobs program jobs, that’s how the economy works. [/quote] Oh please! The vast majority comes from people like me, making around 200K. Everyone knows your trickle down economic BS has never worked. [/quote] I don’t know anything about trickle down theory. I do know a couple DC restaurant owners who either have or are expecting to go out of business with the min wage hikes. There’s a limit to how much they can charge for meals and the business breaks. [/quote] Let them go out of business. Not everyone who can't afford to pay a living wage to the people they employ needs to stay in business. As I said before, when the owners don't pay, we all do with our tax money. [/quote] Oh stop. If you make less than $100,000, you pay *jack shit* in taxes. Your taxes are miniscule. The top 10 percent pay for everything the government does. [/quote] I make $230K and can assure that I pay plenty in taxes. The top 10% SHOULD be paying most of the taxes. But they don't. Stop this lie.[/quote] 79 percent of all federal income taxes are paid by people making at least $228,000. https://home.treasury.gov/system/files/131/Distribution-of-Tax-Burden-Current-Law-2025.pdf [/quote] Folks...the problem isn't the top 10% paying their fair share (they do)...it's not even the top 1%...it's literally the top 0.1% that don't pay anywhere near their fair share, yet are responsible for like 20% of the entire wealth in the country. They famously pay themselves $1 because they have billions in stock, most of which pays no dividends...and they never sell the stock and realize capital gains, but rather take out loans with their stock as security and at miniscule interest rates (with the interest expense tax deductible). It's not as though Bezos needs to spend $10 BN a year to fund his lifestyle...in fact, I would be surprised if he has to spend more than like $100MM - $200MM per year to fund his lifestyle.[/quote] Most of that wealth can't be converted to cash because it would crash the market. It's paper wealth. [/quote] If you have a disciplined stock disposal strategy it won't crash the market. That would only happen if Bezos as an example decided to dump 10% of his ownership in one fell swoop, vs. selling say 10% of his holdings (so, 2% of Amazon stock) over the course of a year (and usually on days when the market / Amazon is up).[/quote] People like Jeff Bezos have to publicly report when they sell stock. The announcement alone can drive down the price. [/quote]
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