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Politics : Formerly About Advanced Micro Devices

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To: i-node who wrote (956634)	8/14/2016 4:52:32 PM
From: Alighieri	1 Recommendation Recommended By bentway Read Replies (1) of 1575354

It is bizarre to me that those on the Left think that you can arbitrarily raise the cost of labor without reducing demand. I'm telling you I had economics in high school, maybe about the 11th grade, and we learned that the first week. How do you think that works? You are (conveniently?) forgetting the stimulative effect of higher wages... What we don't know with certainty is how bad it is. CBO estimated that an increase to $10.10 would put 500,000 people out of work, with an upper range of a million. OUT OF WORK. They have no idea...studies show no measurable effect on employment. From the CBO report... ...in CBO’s assessment, there is about a two-thirds chance that the effect would be in the range between a very slight reduction in employment and a reduction in employment of 1.0 million workers (see Table 1). Can't you see that we are better off allowing supply and demand to work? If someone wants to work for $3/hour, why in the hell do you think you should stand in their way? Right...brilliant...then you can feed their unmet needs with welfare checks. And by the way, that's precisely what we've been doing...pretty much letting the market dictate things....it's showing itself to be an excellent way to continue to feed wage and wealth disparity and keep people in poverty. Can't you see that conservative policies just DON'T WORK? Al

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