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WarlordAdventures (164)
Joined 2021-03-03
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The minimum S/S payment is $849/mo. The average for a person retiring at 70 is $1,649. in politics
1 up, 8m
Neither. If prices stay the same, supply will increase to accommodate.
The minimum S/S payment is $849/mo. The average for a person retiring at 70 is $1,649. in politics
0 ups, 8m
I agree with this to a degree. Something that scoobs69 is missing is that when minimum wage increases, cost of living goes down not up. $15/h is a healthy place to pause. It will increase expendable spending enough to compensate for increased employee wages. Much higher and the expendable spending would not affect corporations like Wal-Mart and instead begin to land on luxury markets and online spending.
The minimum S/S payment is $849/mo. The average for a person retiring at 70 is $1,649. in politics
1 up, 8m
History shows that this is never the case. Quite the opposite. People think only one step into the process. I have to pay more, so I have to hire less. However, laws of supply and demand answer this.

If it were only a few companies required to pay higher wages, then it would destroy jobs. However, with higher minimum wage you will have more money in the hands of the people who are then more likely to be able to spend that money. Non essentials will have a higher demand. With people spending more, there will be an increase in demand for workers. 15 dollars an hour was chosen with calculated reasoning, too, as 15 dollars an hour is around where this effect starts to curve towards a downward trend (paying too much with not enough non-luxury non-essentials to compensate for the increase in pay).

This is what trickle down economy is supposed to look like. People having enough money available to them to make purchases. If money is flowing in a circle, quality of life increases.
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