Hutch Starskey
Diamond Member
- Mar 24, 2015
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You have it exactly backwards. Good wages grow the economy and create more jobs.
No, they do not. Your math skills suck pal.
What grows the economy professor?
70% of the GDP is consumer spending and 90% of consumers make less than 100K. Now show me where an increase in wages for the bulk of consumers would not create spending and growth.
This message about sums up the idiocy of a regressive.
"If you just redistribute the GDP components differently they will add up to a bigger number!" "Also, F*** savings and future; SPEND SPEND SPEND!"
Liberal math/values at work!
Refute what I posted or get lost. We have a consumer driven economy, if consumers don't spend more than they did yesterday then there is no growth and no increase in demand. Wages need to grow for that to happen.
There's nothing wrong with my math. It's your lack of an education that's confounding you.
Actually the GDP equation through expenditure is C+I+G+NX
Through income it is:
Compensation of employees + Rent + Interest + Proprietor’s Income + Corporate Profits + Indirect business taxes + Depreciation + Net foreign factor income
So far you have identified two components, and think economy can grow only based on those two, which is false (in fact the economic growth of the last 50 years has mostly NOT dependent on wages). In addition, the GDP won't be any higher if you just redistribute it from one part to a other, or make it illegal for poor people to work.
In other words, you are full of shit, and absolutely uneducated. Get lost, regressive.
I identified precisely the largest component. The component that is and has been lacking.
Growth is slow as a result. Obviously that's where the problem lies. The other components have grown over the same period and have not stimulated growth.
