Originally posted by Cowpoker
What do professors of economics at really good schools say ? Let me start this by saying that I do not have a degree in economics but explain this to me on an incredibly simple level. The solution to our economy is taking money that is currently sitting in the hands of successful people/businesses is to take a larger portion away from them, filter it through the government, sending it to people and business who are not as successful and the economy will grow. I am missing the growth part of the equation. If anything, they are simply moving the goalposts, for example, you could say that someone earning 25 cents an hour in 1920 was making a living, that doesn't mean you have improved on anything by making that wage $8 an hour in 2015 or that you will improve that by making it $20 by 2020. Yes, $20 is more then $8 and $8 is more then 25 cents but where does that money magically come from ? Where does free college money come from, what will the government paying for college do to college tuition ?
I've never listed to Bill O'Reily in my life, never watched his show, never listened to an interview and have only seen sound bites when he says incredibly stupid shit but apparently he was on Colbert recently and said something that I actually agree with. It was something to the effect that Bernie and Trump are the same person, making wild promises about accomplishing things that are impossible.
Strong economies are active ones. Since 84%ish of the us population would benefit from the minimum wage increase to $15( which is factored into the math) you create shit loads of economic activity since 84%ish of the population spend all their take home income. And they will spend it. And yeah raising the minimum wage to $8 won't do shit, because we're not increasing the purchase power really. We've done this before. And it was a smashing success.