Here’s the answer.

[OnePercenter]

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years.

 

[Mac1958]

.

Yikes.

What was the QUESTION?

.

 

[Statistikhengst]

.

Yikes.

What was the QUESTION?

.

Damn. You beat me to the punch. That deserves a pos rep from me!

 

[Statistikhengst]

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years.

And now, on the serious side: your points are interesting. I am going to do some research and come back to this thread on Saturday, maybe Sunday.

I'm the type of guy with lots of curiousity in my soul and would prefere to prepare first...

 

[The Rabbi]

Because wage and price controls worked so well under Nixon.

 

[editec]

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

\
Not that I don't think Min Wage doesn't need to go up but this would be a shock to the system that would be catastrophe,

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees.

How about legit business expenses? Of Course those need to be written off.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure.

Not sure what that means. But I do think we ought o computer COLA's based on the PRE CLINTON system of computing CPI.

If that were done Social Security recipients would be owned a staggering amount of repayments for the GRAND THEFT this system really has become since the 90s

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years.

Proce controls are almost always bad idea ..except perhaps in times of WAR or I(REAL) national emergency.

Nixxon tried that, ya know?

It blew up in everybody's faces.

 

[Mr. H.]

Nixon's price controls on domestic crude hobbled an entire industry.

 

[oldfart]

Because wage and price controls worked so well under Nixon.

Blast from the past! Remember Ford's "Whip Inflation Now! ( WIN) program?

 

[oldfart]

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

Not that I don't think Min Wage doesn't need to go up but this would be a shock to the system that would be catastrophe,

I've been having this debate with my son. There is no real evidence that increases in the minimum wage on the scale of past increases is inflationary. But there are two caveats:
1. If you take the position that future increases will also not be inflationary, you are relying on the substitution effect replacing low cost labor as a mechanism to get there. So you really can't argue that low wage employment will be unaffected, especially for large changes.
2. Data from smaller stepped changes might not apply to larger changes (like to $15 per hour).

Overall, I support an increase to say $15 an hour in stages and indexing to the CPI. But I'm not arguing there will be no employment effects, just that as part of a program for economic growth such an increase would play a positive role.

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees.

How about legit business expenses? Of Course those need to be written off.

I make a living as a tax practitioner. Don't get me started.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure.

Not sure what that means. But I do think we ought to compute COLA's based on the PRE CLINTON system of computing CPI.

If that were done Social Security recipients would be owned a staggering amount of repayments for the GRAND THEFT this system really has become since the 90s

I'm confused too. But then I live in the state of confusion where I get most of my exercise by jumping to conclusions.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years.

Price controls are almost always bad idea ..except perhaps in times of WAR or I(REAL) national emergency.

Nixxon tried that, ya know?

It blew up in everybody's faces.

I agree that markets and not governments should set prices. To your list of exceptions I would add price controls for monopolies like state utility commissions.

Peace, y'all.

 

[jwoodie]

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years.

Are you willing to pay $10 for a Big Mac? Or would you rather McDonald's goes out of business?

 

[TheOldSchool]

.

Yikes.

What was the QUESTION?

.

The answer is easy. The question requires a more powerful computer.

#42

 

[BillyZane]

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years.

Your figures are entirely made up. 1968 is generally accepted as having the highest federal minimum wage in terms of real value since the inception of the law in the US, at $1.60 an hour. Use an inflation calculator and that works out to $10.72 an hour, half of what you suggest.

Here's a pretty good overview of the topic here

U.S. Minimum Wage History

You aren't being realistic with your figures at all.

 

[Quantum Windbag]

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years.

The question is "What is the dumbest set of policy arguments anyone has ever made?"

 

[Quantum Windbag]

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

Not that I don't think Min Wage doesn't need to go up but this would be a shock to the system that would be catastrophe,

I've been having this debate with my son. There is no real evidence that increases in the minimum wage on the scale of past increases is inflationary. But there are two caveats:
1. If you take the position that future increases will also not be inflationary, you are relying on the substitution effect replacing low cost labor as a mechanism to get there. So you really can't argue that low wage employment will be unaffected, especially for large changes.
2. Data from smaller stepped changes might not apply to larger changes (like to $15 per hour).

Overall, I support an increase to say $15 an hour in stages and indexing to the CPI. But I'm not arguing there will be no employment effects, just that as part of a program for economic growth such an increase would play a positive role.

Can I assume you son is winning the debate?

I have a few questions for you.

• Have you looked at what happens when minimum wage is raised above the level of prevailing wages?
• Why do large corporations and unions generally support increases in minimum wage?
• What happens to small business when minimum wage increases?
• Does the fact that real world data indicates that higher minimum wages results in more chain stores and fewer mom and pop stores contribute to income inequality?
• Is it remotely possible that you are working against your priorities when you only look at the low wage earner in trying to fix the problems you perceive?

I make a living as a tax practitioner. Don't get me started.

Lots of horror stores about all the H&R Block customers that blame you for selling them an instant refund at exorbitant interest rate?

I'm confused too. But then I live in the state of confusion where I get most of my exercise by jumping to conclusions.

Trust me, we can tell.

I agree that markets and not governments should set prices. To your list of exceptions I would add price controls for monopolies like state utility commissions.

Peace, y'all.

Because legal monopolies are always good.

 

[boedicca]

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years.

What's the question?

How to destroy the economy once and for all?

 

[Statistikhengst]

.

Yikes.

What was the QUESTION?

.

The answer is easy. The question requires a more powerful computer.

#42

So long, and thanks for all the fish!

(sorry to go OT, but it was fun!)

 

[TheOldSchool]

.

Yikes.

What was the QUESTION?

.

The answer is easy. The question requires a more powerful computer.

#42

So long, and thanks for all the fish!

(sorry to go OT, but it was fun!)

How many roads must a man walk down before he can call himself a man?

 

[BobPlumb]

To be or not to be?

 

[OnePercenter]

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Yikes.

What was the QUESTION?

How do you fix the economy.

 

[Avorysuds]

I vote we do it, but if it fails to meet you benchmarks in making "things" better as you define them to be, you sign a contract that you publicly hang yourself only after you apologize.

Ok?