Prove to me that "trickle down" or "rising tide lifts all boats" are wrong?

[danielpalos]

I already said I was required to submit to having my money taken from me by the fucking government I do not give it it is taken

In other words....

View attachment 223506

The Term is, appropriated.

 

[Oddball]

The Term is, appropriated.

You misspelled "expropriated".

 

[danielpalos]

The Term is, appropriated.

You misspelled "expropriated".

View attachment 223559

words matter, Mr. Feldman.

 

[healthmyths]

Whenever I hear about the "trickle down theory", I am reminded of William Jennings Bryan's Cross of Gold speech way back in 1896:


Mr. Carlisle said in 1878 that this was a struggle between the idle holders of idle capital and the struggling masses who produce the wealth and pay the taxes of the country; and my friends, it is simply a question that we shall decide upon which side shall the Democratic Party fight. Upon the side of the idle holders of idle capital, or upon the side of the struggling masses? That is the question that the party must answer first; and then it must be answered by each individual hereafter. The sympathies of the Democratic Party, as described by the platform, are on the side of the struggling masses, who have ever been the foundation of the Democratic Party.

There are two ideas of government. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it.

You come to us and tell us that the great cities are in favor of the gold standard. I tell you that the great cities rest upon these broad and fertile prairies. Burn down your cities and leave our farms, and your cities will spring up again as if by magic. But destroy our farms and the grass will grow in the streets of every city in the country.




Isn't it funny the Democrats used to represent the rural voters and the Republicans represented the urbanites?

raise the minimum wage to raise taxes. the poor can use the money to create demand.

OK... let's use your $15.00 figure raising all the people that work for minimum wage.
Q) How many people do you think work at minimum wage?

A) In 2014, about 1.3 million U.S. workers age 16 and over earned exactly the prevailing federal minimum wage of $7.25 per hour. Another 1.7 million had wages below the federal minimum. Together these workers make up 4 percent of all hourly paid workers.
What are the characteristics of minimum wage workers? - UC Davis Center for Poverty Research

So let's raise ALL these 3 million people to $15.00/hour.
Now 1.3 million already were paid $7.25 so the additional hourly pay is $7.75 per hour.
So these 1.3 million would get another $7.75/hour and work 2,080 hours per year or a total gross of $20,956,000,000
By the way the national GDP is $18.051 Trillion in 2017 inflation adjusted.

HMMM created demand of $21 billion just by raising the 3 million people at minimum wage will increase the GDP by WOW:
0.1161% less than 1/10th of 1% YUP that will make a BIG impression!

 

[Tax Man]

How many times have we heard socialists bitch and moan about the filthy wealthy. The 1%ers! And how many times have we heard "trickle down" doesn't work or "rising tide lifts all boats" is wrong?

YET my simple question that even the most IGNORANT socialist, 1%er hater seemingly can't answer is this:

Do the filthy wealthy bury their wealth in the backyard or hide under their mattresses ?

Seriously folks what happens?
Those evil filthy wealthy 1%ers buy yachts. Yep they do ...who builds them?
They buy private jets. Who builds them?
They buy mansions. Who builds them. Who staffs them?

So ignorant people point out that "trickle down" doesn't work. Trump tax cuts were wrong. The little people aren't
getting the share and the filthy wealthy,
why they are ...."burying their wealth in the backyard or hiding under their mattresses"....???

Today's employment picture show more jobs than people to fill them!
Each of those NEW jobs creates TAX REVENUE to the federal government.
PROOF?
The economy added 3.2 million jobs since Trump took office:
Trump's Numbers (Second Quarterly Update) - FactCheck.org
Let's assume that each job pays Median household income in the U.S. rose to an estimated $59,055 in January 2018, an increase of nearly 0.4% from our December 2017 estimate of $58,829.Mar 1, 2018
https://seekingalpha.com/article/4152222-january-2018-median-household-income

So 3.2 million times $59,055 is at 12.4% payroll taxes $23.3 billion a year ... additional federal payroll revenue.

So what has happened to the $190 billion in gross income these 3.2 million job holders generated?
Did they bury in the backyard or hide under their mattresses?

Of course not...

So why then do ignorant people continue to use that phrase "trickle down" as a failure?
Look at the following chart and tell me how many of these 50 S&P companies are hiding their tax break
under the mattress or burying in the backyard?
View attachment 223060

Trickle down makes peons and a tide can only raise boats with a sound hull. Nuff said goober?

 

[danielpalos]

Whenever I hear about the "trickle down theory", I am reminded of William Jennings Bryan's Cross of Gold speech way back in 1896:


Mr. Carlisle said in 1878 that this was a struggle between the idle holders of idle capital and the struggling masses who produce the wealth and pay the taxes of the country; and my friends, it is simply a question that we shall decide upon which side shall the Democratic Party fight. Upon the side of the idle holders of idle capital, or upon the side of the struggling masses? That is the question that the party must answer first; and then it must be answered by each individual hereafter. The sympathies of the Democratic Party, as described by the platform, are on the side of the struggling masses, who have ever been the foundation of the Democratic Party.

There are two ideas of government. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it.

You come to us and tell us that the great cities are in favor of the gold standard. I tell you that the great cities rest upon these broad and fertile prairies. Burn down your cities and leave our farms, and your cities will spring up again as if by magic. But destroy our farms and the grass will grow in the streets of every city in the country.




Isn't it funny the Democrats used to represent the rural voters and the Republicans represented the urbanites?

raise the minimum wage to raise taxes. the poor can use the money to create demand.

OK... let's use your $15.00 figure raising all the people that work for minimum wage.
Q) How many people do you think work at minimum wage?

A) In 2014, about 1.3 million U.S. workers age 16 and over earned exactly the prevailing federal minimum wage of $7.25 per hour. Another 1.7 million had wages below the federal minimum. Together these workers make up 4 percent of all hourly paid workers.
What are the characteristics of minimum wage workers? - UC Davis Center for Poverty Research

So let's raise ALL these 3 million people to $15.00/hour.
Now 1.3 million already were paid $7.25 so the additional hourly pay is $7.75 per hour.
So these 1.3 million would get another $7.75/hour and work 2,080 hours per year or a total gross of $20,956,000,000
By the way the national GDP is $18.051 Trillion in 2017 inflation adjusted.

HMMM created demand of $21 billion just by raising the 3 million people at minimum wage will increase the GDP by WOW:
0.1161% less than 1/10th of 1% YUP that will make a BIG impression!

You omit factors like higher paid labor paying more in taxes and creating more in demand. We should expect a positive multiplier of at least two to three. Along with an upward pressure on wages in our First World economy.

 

[danielpalos]

How many times have we heard socialists bitch and moan about the filthy wealthy. The 1%ers! And how many times have we heard "trickle down" doesn't work or "rising tide lifts all boats" is wrong?

YET my simple question that even the most IGNORANT socialist, 1%er hater seemingly can't answer is this:

Do the filthy wealthy bury their wealth in the backyard or hide under their mattresses ?

Seriously folks what happens?
Those evil filthy wealthy 1%ers buy yachts. Yep they do ...who builds them?
They buy private jets. Who builds them?
They buy mansions. Who builds them. Who staffs them?

So ignorant people point out that "trickle down" doesn't work. Trump tax cuts were wrong. The little people aren't
getting the share and the filthy wealthy,
why they are ...."burying their wealth in the backyard or hiding under their mattresses"....???

Today's employment picture show more jobs than people to fill them!
Each of those NEW jobs creates TAX REVENUE to the federal government.
PROOF?
The economy added 3.2 million jobs since Trump took office:
Trump's Numbers (Second Quarterly Update) - FactCheck.org
Let's assume that each job pays Median household income in the U.S. rose to an estimated $59,055 in January 2018, an increase of nearly 0.4% from our December 2017 estimate of $58,829.Mar 1, 2018
https://seekingalpha.com/article/4152222-january-2018-median-household-income

So 3.2 million times $59,055 is at 12.4% payroll taxes $23.3 billion a year ... additional federal payroll revenue.

So what has happened to the $190 billion in gross income these 3.2 million job holders generated?
Did they bury in the backyard or hide under their mattresses?

Of course not...

So why then do ignorant people continue to use that phrase "trickle down" as a failure?
Look at the following chart and tell me how many of these 50 S&P companies are hiding their tax break
under the mattress or burying in the backyard?
View attachment 223060

Trickle down makes peons and a tide can only raise boats with a sound hull. Nuff said goober?

capitalism has a natural rate of unemployment.

 

[Winston]

Whenever I hear about the "trickle down theory", I am reminded of William Jennings Bryan's Cross of Gold speech way back in 1896:


Mr. Carlisle said in 1878 that this was a struggle between the idle holders of idle capital and the struggling masses who produce the wealth and pay the taxes of the country; and my friends, it is simply a question that we shall decide upon which side shall the Democratic Party fight. Upon the side of the idle holders of idle capital, or upon the side of the struggling masses? That is the question that the party must answer first; and then it must be answered by each individual hereafter. The sympathies of the Democratic Party, as described by the platform, are on the side of the struggling masses, who have ever been the foundation of the Democratic Party.

There are two ideas of government. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it.

You come to us and tell us that the great cities are in favor of the gold standard. I tell you that the great cities rest upon these broad and fertile prairies. Burn down your cities and leave our farms, and your cities will spring up again as if by magic. But destroy our farms and the grass will grow in the streets of every city in the country.




Isn't it funny the Democrats used to represent the rural voters and the Republicans represented the urbanites?

raise the minimum wage to raise taxes. the poor can use the money to create demand.

OK... let's use your $15.00 figure raising all the people that work for minimum wage.
Q) How many people do you think work at minimum wage?

A) In 2014, about 1.3 million U.S. workers age 16 and over earned exactly the prevailing federal minimum wage of $7.25 per hour. Another 1.7 million had wages below the federal minimum. Together these workers make up 4 percent of all hourly paid workers.
What are the characteristics of minimum wage workers? - UC Davis Center for Poverty Research

So let's raise ALL these 3 million people to $15.00/hour.
Now 1.3 million already were paid $7.25 so the additional hourly pay is $7.75 per hour.
So these 1.3 million would get another $7.75/hour and work 2,080 hours per year or a total gross of $20,956,000,000
By the way the national GDP is $18.051 Trillion in 2017 inflation adjusted.

HMMM created demand of $21 billion just by raising the 3 million people at minimum wage will increase the GDP by WOW:
0.1161% less than 1/10th of 1% YUP that will make a BIG impression!

Multiplier (economics) - Wikipedia

 

[Oddball]

words matter, Mr. Feldman.

Ironic to have someone who bastardizes the meanings of words should proclaim this so often.

 

[Oddball]

Whenever I hear about the "trickle down theory", I am reminded of William Jennings Bryan's Cross of Gold speech way back in 1896:


Mr. Carlisle said in 1878 that this was a struggle between the idle holders of idle capital and the struggling masses who produce the wealth and pay the taxes of the country; and my friends, it is simply a question that we shall decide upon which side shall the Democratic Party fight. Upon the side of the idle holders of idle capital, or upon the side of the struggling masses? That is the question that the party must answer first; and then it must be answered by each individual hereafter. The sympathies of the Democratic Party, as described by the platform, are on the side of the struggling masses, who have ever been the foundation of the Democratic Party.

There are two ideas of government. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it.

You come to us and tell us that the great cities are in favor of the gold standard. I tell you that the great cities rest upon these broad and fertile prairies. Burn down your cities and leave our farms, and your cities will spring up again as if by magic. But destroy our farms and the grass will grow in the streets of every city in the country.




Isn't it funny the Democrats used to represent the rural voters and the Republicans represented the urbanites?

raise the minimum wage to raise taxes. the poor can use the money to create demand.

OK... let's use your $15.00 figure raising all the people that work for minimum wage.
Q) How many people do you think work at minimum wage?

A) In 2014, about 1.3 million U.S. workers age 16 and over earned exactly the prevailing federal minimum wage of $7.25 per hour. Another 1.7 million had wages below the federal minimum. Together these workers make up 4 percent of all hourly paid workers.
What are the characteristics of minimum wage workers? - UC Davis Center for Poverty Research

So let's raise ALL these 3 million people to $15.00/hour.
Now 1.3 million already were paid $7.25 so the additional hourly pay is $7.75 per hour.
So these 1.3 million would get another $7.75/hour and work 2,080 hours per year or a total gross of $20,956,000,000
By the way the national GDP is $18.051 Trillion in 2017 inflation adjusted.

HMMM created demand of $21 billion just by raising the 3 million people at minimum wage will increase the GDP by WOW:
0.1161% less than 1/10th of 1% YUP that will make a BIG impression!

Multiplier (economics) - Wikipedia

Also found under "voodoo economics."

 

[healthmyths]

Whenever I hear about the "trickle down theory", I am reminded of William Jennings Bryan's Cross of Gold speech way back in 1896:


Mr. Carlisle said in 1878 that this was a struggle between the idle holders of idle capital and the struggling masses who produce the wealth and pay the taxes of the country; and my friends, it is simply a question that we shall decide upon which side shall the Democratic Party fight. Upon the side of the idle holders of idle capital, or upon the side of the struggling masses? That is the question that the party must answer first; and then it must be answered by each individual hereafter. The sympathies of the Democratic Party, as described by the platform, are on the side of the struggling masses, who have ever been the foundation of the Democratic Party.

There are two ideas of government. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it.

You come to us and tell us that the great cities are in favor of the gold standard. I tell you that the great cities rest upon these broad and fertile prairies. Burn down your cities and leave our farms, and your cities will spring up again as if by magic. But destroy our farms and the grass will grow in the streets of every city in the country.




Isn't it funny the Democrats used to represent the rural voters and the Republicans represented the urbanites?

raise the minimum wage to raise taxes. the poor can use the money to create demand.

OK... let's use your $15.00 figure raising all the people that work for minimum wage.
Q) How many people do you think work at minimum wage?

A) In 2014, about 1.3 million U.S. workers age 16 and over earned exactly the prevailing federal minimum wage of $7.25 per hour. Another 1.7 million had wages below the federal minimum. Together these workers make up 4 percent of all hourly paid workers.
What are the characteristics of minimum wage workers? - UC Davis Center for Poverty Research

So let's raise ALL these 3 million people to $15.00/hour.
Now 1.3 million already were paid $7.25 so the additional hourly pay is $7.75 per hour.
So these 1.3 million would get another $7.75/hour and work 2,080 hours per year or a total gross of $20,956,000,000
By the way the national GDP is $18.051 Trillion in 2017 inflation adjusted.

HMMM created demand of $21 billion just by raising the 3 million people at minimum wage will increase the GDP by WOW:
0.1161% less than 1/10th of 1% YUP that will make a BIG impression!

Multiplier (economics) - Wikipedia

Now the multiplier effect comes in to play.
http://www2.econ.iastate.edu/research/webpapers/paper_13143.pdf
"Every $1 million spent is multiplied by 1.18 or $50 billion spent by employees: $60 billion back into the GDP.
So taking that figure of 1.18 times that means the $122.4 billion in additional paychecks spent back into the economy of $144.4 Billion. That means more tax revenue for federal/state and local governments.

So with $21 billion divided by 1 million equals $20,956 times 1.18 or a whopping $24.7 Billion added due to the multiplier effect or 0.13699%...
Yea that makes A BIG difference...
Oh by the way have you seen this: 12 of these 50 companies raising to $15/hour or more!
NOW I'm in favor of that! Because it is a decision NOT made by the federal government saying YOU MUST do this!!!

 

[danielpalos]

words matter, Mr. Feldman.

Ironic to have someone who bastardizes the meanings of words should proclaim this so often.

nothing but Excuses, Mr. Feldman?

 

[danielpalos]

Whenever I hear about the "trickle down theory", I am reminded of William Jennings Bryan's Cross of Gold speech way back in 1896:


Mr. Carlisle said in 1878 that this was a struggle between the idle holders of idle capital and the struggling masses who produce the wealth and pay the taxes of the country; and my friends, it is simply a question that we shall decide upon which side shall the Democratic Party fight. Upon the side of the idle holders of idle capital, or upon the side of the struggling masses? That is the question that the party must answer first; and then it must be answered by each individual hereafter. The sympathies of the Democratic Party, as described by the platform, are on the side of the struggling masses, who have ever been the foundation of the Democratic Party.

There are two ideas of government. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it.

You come to us and tell us that the great cities are in favor of the gold standard. I tell you that the great cities rest upon these broad and fertile prairies. Burn down your cities and leave our farms, and your cities will spring up again as if by magic. But destroy our farms and the grass will grow in the streets of every city in the country.




Isn't it funny the Democrats used to represent the rural voters and the Republicans represented the urbanites?

raise the minimum wage to raise taxes. the poor can use the money to create demand.

OK... let's use your $15.00 figure raising all the people that work for minimum wage.
Q) How many people do you think work at minimum wage?

A) In 2014, about 1.3 million U.S. workers age 16 and over earned exactly the prevailing federal minimum wage of $7.25 per hour. Another 1.7 million had wages below the federal minimum. Together these workers make up 4 percent of all hourly paid workers.
What are the characteristics of minimum wage workers? - UC Davis Center for Poverty Research

So let's raise ALL these 3 million people to $15.00/hour.
Now 1.3 million already were paid $7.25 so the additional hourly pay is $7.75 per hour.
So these 1.3 million would get another $7.75/hour and work 2,080 hours per year or a total gross of $20,956,000,000
By the way the national GDP is $18.051 Trillion in 2017 inflation adjusted.

HMMM created demand of $21 billion just by raising the 3 million people at minimum wage will increase the GDP by WOW:
0.1161% less than 1/10th of 1% YUP that will make a BIG impression!

Multiplier (economics) - Wikipedia

Also found under "voodoo economics."

why Any government Spending, at All; Mr. Feldman?

 

[RealDave]

Yes I realize that wealth is not a static commodity.... economics at this scale is an extremely complicated system, which is why I made the assumptions that the 1% be considered a single entity and our wealth as currency and a fixed amount. Yes I realize there are several dynamic factors but I’m trying to talk about core principles which is much easier to do when you simply and generalize...

So if we consider wealth as a the value of ones assets including the % of currency they own, then we can examine how it flows and effects our society and economy.

Let expand it to the top 10%.... if the top 10% owns a large portion of our nations wealth and that % keeps growing, are you going to tell me you don’t think that has an impact on the rest of of the people, particularly the poor and middle class?

As long as wealth creation isn't static -which it isn't- then what's the problem?....You keep claiming that there's an "impact", yet leave it at that extremely vague claim.

If the pool of wealth is constantly expanding (which it is), to the point that everyone with an ounce of get-up-and-go can get some, who gives a rats ass if some are accumulating more than others?

I’ve actually been asking you if you believe there is an impact and you’ve avoided answering 5 times now.

But now that you bring it up, yes I believe there is an impact from wealth inequality. let’s look at an extreme example that will emphasis my point. Let’s say the % of wealth owned by the top earners continues to grow and it gets to a point where they own 90% of our nations wealth. What does that do for the rest of us?

The largest impact I see comes in real estate and business ownership. When a few own and accumulate the wealth while he middle class and poor stay stagnant then the rich buy up the properties and business. More of the lower guys become renters and employees. It gets harder for the “little guy” to compete with the big businesses and it gets harder for them to be able to afford to own a house. The few control our habitat and commerce and we need up in a corporate socialism of sorts. If you dont like big government running your life then perhaps you should put big business on your radar as well because there are not many differences.

True that currency isn’t static but new Money is created by borrowing and the majority of that is done by the wealthy. Cost of living also isnt static, it is a rising figure like inflation. Like I said, it’s a complicated system but if you can simplify it down to the core and look at it then maybe we can identify some of the cause and effects of wealth inequality.

I’m not calling for socialism or some massive redistribution, I’m just trying to have an honest examination of economic cause and effects in a system like we have. I’m far from having all this figured out

NOT one link to prove your comments.
Therefore just plain SUPPOSITION on your part.
Provide links to support your points please.

But contrary to your point... Please refute these facts.
Explain to me how come the GDP has grown from 1929 of $1.109 Trillion in inflation adjusted to $18.051 Trillion in 2017 inflation adjusted.
Explain how this growth of 17% a YEAR since 1929 in inflation adjusted occurred.. even though the population has grown by less than 2%?

The Strange Ups and Downs of the U.S. Economy Since 1929

Explain how come in 1890, there were about 4,000 millionaires in the United States, Google Answers: statistics on millionaires, late 1800s
In terms of today's dollars one million in 1890 would be equal to $27 million today. FACT:

The Inflation Calculator

How many people in the USA have net worth over $25 million today?
There were 172,000 households with net worth above $25 million...

The Number of High-Net-Worth Households in the US Continues to Grow - Marketing Charts

So in the 128 years since 1890 there are 1,312 times as many inflation adjusted millionaires...
even though the population in 1890 was 62,979,766 versus 2018 USA population 327,467,580 U.S. Population (2018) - Worldometers
has increased just 4.2 times.
Demographic history of the United States - Wikipedia
In other words while the population grew 4.2 times what it was in 1890, the number of inflation adjusted millionaires has grown 1,312 times!

Again explain how that has happened?
So if there are more people having the opportunities to become millionaires how does that fit with your "Let’s say the % of wealth owned by the top earners continues to grow and it gets to a point where they own 90% of our nations wealth. What does that do for the rest of us"

My criticism of your comment is you make a supposition: "let's say".... :LETS SAY:????

ONE word: SUPPOSITION

Part Time jobs:

"The first thing you would expect to see from a Part-Time America is that the number of part-time jobs added would rival the number of full-time jobs added. But in the last year, new full-time jobs outnumbered part-time jobs by 1.8 million to 8,000. For every new part-time job, we're creating 225 full-time positions. "

The Spectacular Myth of Obama's Part-Time America—in 5 Graphs - The Atlantic

So goes that part time jobs lie you assholes have been telling.

That was duped years ago & yet here you are spewing this same shit.

Grow the fuck up & get a fucking education.

 

[Oddball]

why Any government Spending, at All; Mr. Feldman?

Piss off, Josef.

 

[danielpalos]

why Any government Spending, at All; Mr. Feldman?

Piss off, Josef.

one way, Mr. Feldman?

 

[Winston]

Whenever I hear about the "trickle down theory", I am reminded of William Jennings Bryan's Cross of Gold speech way back in 1896:


Mr. Carlisle said in 1878 that this was a struggle between the idle holders of idle capital and the struggling masses who produce the wealth and pay the taxes of the country; and my friends, it is simply a question that we shall decide upon which side shall the Democratic Party fight. Upon the side of the idle holders of idle capital, or upon the side of the struggling masses? That is the question that the party must answer first; and then it must be answered by each individual hereafter. The sympathies of the Democratic Party, as described by the platform, are on the side of the struggling masses, who have ever been the foundation of the Democratic Party.

There are two ideas of government. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it.

You come to us and tell us that the great cities are in favor of the gold standard. I tell you that the great cities rest upon these broad and fertile prairies. Burn down your cities and leave our farms, and your cities will spring up again as if by magic. But destroy our farms and the grass will grow in the streets of every city in the country.




Isn't it funny the Democrats used to represent the rural voters and the Republicans represented the urbanites?

raise the minimum wage to raise taxes. the poor can use the money to create demand.

OK... let's use your $15.00 figure raising all the people that work for minimum wage.
Q) How many people do you think work at minimum wage?

A) In 2014, about 1.3 million U.S. workers age 16 and over earned exactly the prevailing federal minimum wage of $7.25 per hour. Another 1.7 million had wages below the federal minimum. Together these workers make up 4 percent of all hourly paid workers.
What are the characteristics of minimum wage workers? - UC Davis Center for Poverty Research

So let's raise ALL these 3 million people to $15.00/hour.
Now 1.3 million already were paid $7.25 so the additional hourly pay is $7.75 per hour.
So these 1.3 million would get another $7.75/hour and work 2,080 hours per year or a total gross of $20,956,000,000
By the way the national GDP is $18.051 Trillion in 2017 inflation adjusted.

HMMM created demand of $21 billion just by raising the 3 million people at minimum wage will increase the GDP by WOW:
0.1161% less than 1/10th of 1% YUP that will make a BIG impression!

Multiplier (economics) - Wikipedia

Also found under "voodoo economics."

LMAO, "Voodoo economics" was what HW Bush called Reagan's economic plan during the 1980 election, and he was correct. We are still being hexed by Reagan's voodoo to this day, especially that big old tax increase in regards to Social Security that he slapped on us. We still get hit with it every year and he has been gone for years now.

 

[healthmyths]

Yes I realize that wealth is not a static commodity.... economics at this scale is an extremely complicated system, which is why I made the assumptions that the 1% be considered a single entity and our wealth as currency and a fixed amount. Yes I realize there are several dynamic factors but I’m trying to talk about core principles which is much easier to do when you simply and generalize...

So if we consider wealth as a the value of ones assets including the % of currency they own, then we can examine how it flows and effects our society and economy.

Let expand it to the top 10%.... if the top 10% owns a large portion of our nations wealth and that % keeps growing, are you going to tell me you don’t think that has an impact on the rest of of the people, particularly the poor and middle class?

As long as wealth creation isn't static -which it isn't- then what's the problem?....You keep claiming that there's an "impact", yet leave it at that extremely vague claim.

If the pool of wealth is constantly expanding (which it is), to the point that everyone with an ounce of get-up-and-go can get some, who gives a rats ass if some are accumulating more than others?

I’ve actually been asking you if you believe there is an impact and you’ve avoided answering 5 times now.

But now that you bring it up, yes I believe there is an impact from wealth inequality. let’s look at an extreme example that will emphasis my point. Let’s say the % of wealth owned by the top earners continues to grow and it gets to a point where they own 90% of our nations wealth. What does that do for the rest of us?

The largest impact I see comes in real estate and business ownership. When a few own and accumulate the wealth while he middle class and poor stay stagnant then the rich buy up the properties and business. More of the lower guys become renters and employees. It gets harder for the “little guy” to compete with the big businesses and it gets harder for them to be able to afford to own a house. The few control our habitat and commerce and we need up in a corporate socialism of sorts. If you dont like big government running your life then perhaps you should put big business on your radar as well because there are not many differences.

True that currency isn’t static but new Money is created by borrowing and the majority of that is done by the wealthy. Cost of living also isnt static, it is a rising figure like inflation. Like I said, it’s a complicated system but if you can simplify it down to the core and look at it then maybe we can identify some of the cause and effects of wealth inequality.

I’m not calling for socialism or some massive redistribution, I’m just trying to have an honest examination of economic cause and effects in a system like we have. I’m far from having all this figured out

NOT one link to prove your comments.
Therefore just plain SUPPOSITION on your part.
Provide links to support your points please.

But contrary to your point... Please refute these facts.
Explain to me how come the GDP has grown from 1929 of $1.109 Trillion in inflation adjusted to $18.051 Trillion in 2017 inflation adjusted.
Explain how this growth of 17% a YEAR since 1929 in inflation adjusted occurred.. even though the population has grown by less than 2%?

The Strange Ups and Downs of the U.S. Economy Since 1929

Explain how come in 1890, there were about 4,000 millionaires in the United States, Google Answers: statistics on millionaires, late 1800s
In terms of today's dollars one million in 1890 would be equal to $27 million today. FACT:

The Inflation Calculator

How many people in the USA have net worth over $25 million today?
There were 172,000 households with net worth above $25 million...

The Number of High-Net-Worth Households in the US Continues to Grow - Marketing Charts

So in the 128 years since 1890 there are 1,312 times as many inflation adjusted millionaires...
even though the population in 1890 was 62,979,766 versus 2018 USA population 327,467,580 U.S. Population (2018) - Worldometers
has increased just 4.2 times.
Demographic history of the United States - Wikipedia
In other words while the population grew 4.2 times what it was in 1890, the number of inflation adjusted millionaires has grown 1,312 times!

Again explain how that has happened?
So if there are more people having the opportunities to become millionaires how does that fit with your "Let’s say the % of wealth owned by the top earners continues to grow and it gets to a point where they own 90% of our nations wealth. What does that do for the rest of us"

My criticism of your comment is you make a supposition: "let's say".... :LETS SAY:????

ONE word: SUPPOSITION

Part Time jobs:

"The first thing you would expect to see from a Part-Time America is that the number of part-time jobs added would rival the number of full-time jobs added. But in the last year, new full-time jobs outnumbered part-time jobs by 1.8 million to 8,000. For every new part-time job, we're creating 225 full-time positions. "

The Spectacular Myth of Obama's Part-Time America—in 5 Graphs - The Atlantic

So goes that part time jobs lie you assholes have been telling.

That was duped years ago & yet here you are spewing this same shit.

Grow the fuck up & get a fucking education.

Yes that was in 2010... from this source...
Top Ex-White House Economist Admits 94% Of All New Jobs Under Obama Were Part-Time
Just over six years ago, in December of 2010, we wrote "Charting America's Transformation To A Part-Time Worker Society",

Fast forward 6 years, when a report by Harvard and Princeton economists Lawrence Katz and Alan Krueger, a former chairman of the White House Council of Economic Advisers, was surprised by the finding., confirms exactly what we warned. In their study, the duo show that from 2005 to 2015, the proportion of Americans workers engaged in what they refer to as “alternative work” soared during the Obama era, from 10.7% in 2005 to 15.8% in 2015. Alternative, or "gig" work is defined as "temporary help agency workers, on-call workers, contract company workers, independent contractors or freelancers", and is generally unsteady, without a fixed paycheck and with virtually no benefits.

The two economists also found that each of the common types of alternative work increased from 2005 to 2015—with the largest changes in the number of independent contractors and workers provided by contract firms, such as janitors that work full-time at a particular office, but are paid by a janitorial services firm.

BOGUS JOB GROWTH: 95 Percent Of New Jobs Under Obama Were ‘Temporary’
95 Percent Of New Jobs Under Obama Were 'Temporary'

AGAIN... why did this happen??
Businesses eliminated hundreds of thousands of full-time jobs to avoid Obamacare mandate
Up to 250,000 positions may have been eliminated by small businesses seeking to avoid Obamacare’s employer mandate, according to estimates in a new working paper distributed by the National Bureau of Economic Research. Altogether between 28,000 and 50,000 businesses appear to have reduced their number of full-time employees from 2014 to 2016 because of the mandate.
Businesses eliminated hundreds of thousands of full-time jobs to avoid Obamacare mandate

Obamacare required an employer with 50 or more employees to have group insurance plan, Obama never understood that the employer would be faced
when the employer wanted to hire another employee to the 49 employees it would cost an employer an average of $284/month per employee.
50 employees times $284 equals $14,200 more per month.

Solution: Hire two part-time employees. No need to spend $14,200/month

Again that's why 95% of new jobs were temporary or part time.

Really... explain to a small employer why they should hire a new employee that would raise their count to 50 and with that 50th employee, the employer
now spends $14,200 more PER MONTH?

 

[The Sage of Main Street]

How many times have we heard socialists bitch and moan about the filthy wealthy. The 1%ers! And how many times have we heard "trickle down" doesn't work or "rising tide lifts all boats" is wrong?

YET my simple question that even the most IGNORANT socialist, 1%er hater seemingly can't answer is this:

Do the filthy wealthy bury their wealth in the backyard or hide under their mattresses ?

Seriously folks what happens?
Those evil filthy wealthy 1%ers buy yachts. Yep they do ...who builds them?
They buy private jets. Who builds them?
They buy mansions. Who builds them. Who staffs them?

So ignorant people point out that "trickle down" doesn't work. Trump tax cuts were wrong. The little people aren't
getting the share and the filthy wealthy,
why they are ...."burying their wealth in the backyard or hiding under their mattresses"....???

Today's employment picture show more jobs than people to fill them!
Each of those NEW jobs creates TAX REVENUE to the federal government.
PROOF?
The economy added 3.2 million jobs since Trump took office:
Trump's Numbers (Second Quarterly Update) - FactCheck.org
Let's assume that each job pays Median household income in the U.S. rose to an estimated $59,055 in January 2018, an increase of nearly 0.4% from our December 2017 estimate of $58,829.Mar 1, 2018
https://seekingalpha.com/article/4152222-january-2018-median-household-income

So 3.2 million times $59,055 is at 12.4% payroll taxes $23.3 billion a year ... additional federal payroll revenue.

So what has happened to the $190 billion in gross income these 3.2 million job holders generated?
Did they bury in the backyard or hide under their mattresses?

Of course not...

So why then do ignorant people continue to use that phrase "trickle down" as a failure?
Look at the following chart and tell me how many of these 50 S&P companies are hiding their tax break
under the mattress or burying in the backyard?
View attachment 223060

The fact that even the Greek ecomomy is getting better is proof that lifting tides lift all boats..

Walking Tall by Walking All Over People

Proof that GreedHeads will take credit for the growth created by those they humiliate and exploit.

 

[danielpalos]

Raising the minimum wage works better; we have the laws of demand, supply, and large numbers on this one.