Toddsterpatriot
Diamond Member
DanielPalos, a recent post within another group:balance of trade is just one factor to consider regarding our whole economy.
why shouldn't structural inefficiencies in our economy be solved first, to then see where we stand regarding trade?
JBander, I'm among the proponents for three economic proposals in particular:
(1) Each Labor Day, the federal minimum wage, (FMW) rate should be cost-of-living-adjusted, (COLA'd) by pegging it to a federal cost-price-index number. This method has been successfully retaining Social Security retirement benefits' purchasing powers.
(2) Each Thanksgiving day until the FMW rate attains 150% of its February 1, 1968 purchasing power, the rate should be increased by an additional 15%. The nation would have benefited if the minimum's purchasing power had been further increased since its peak value, rather than the significant decline we have experienced.
(3) Enact the trade policy described within Wikipedia's “Import Certificates” article. It would significantly reduce USA's trade deficit of goods in a manner that would increase our domestic production and our numbers of jobs more than otherwise. Beyond the fact that trade deficits always reduce the GDP, I'm among those contending that although the extent of trade deficits' detriment to domestic production cannot be determined, we know that it exceeds the amount of trade deficit itself.
These three proposals do not materially affect our annual federal budgets; Although, there are initial start-up costs necessary to enacting the self-funding Import Certificate policy.
They all contribute to increasing our median-wage which is critical to our middle income earning segment of our population.
The FMW rate effects upon jobs' wages are inversely related to the difference between the minimum's and the job's rate. Those earning the least, proportionally benefit more; those who earn more, proportionally benefit less, but all USA employees benefit from the federal minimum wage rate.
Respectfully, Supposn.
Each Thanksgiving day until the FMW rate attains 150% of its February 1, 1968 purchasing power,
You want the minimum wage to be $17.50? What a perfectly terrible idea.
The nation would have benefited if the minimum's purchasing power had been further increased since its peak value,
How many people make minimum wage?