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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: neolib who wrote (761913)	1/6/2014 9:32:57 PM
From: Wharf Rat	Read Replies (2) \| Respond to of 1573695

"Oregon, which boosted the minimum wage quite significantly (we were the highest in the USA for awhile but WA might be now), " I am pleased to say, "That shalt not stand!!". Nothing would please me more than to hear "Back at you" from either of you. California signs law raising minimum wage to $10/hour by 2016 Sep. 25, 2013 at 1:41 PM ET California has become the first state in the nation to commit to raising the minimum wage to $10 per hour, although the increase will take place gradually until 2016 under a bill signed into law by Democratic Governor Jerry Brown on Wednesday. The law raises minimum pay in the most populous state from its current rate of $8 per hour to $9 by July 2014 and $10 by January 2016. The state with the highest minimum wage currently is Washington, where employers must pay at least $9.19 per hour nbcnews.com

To: neolib who wrote (761913)	1/6/2014 9:47:39 PM
From: TimF	Respond to of 1573695

Not only that, but there becomes a shift from production of products which appeal to the larger market to more and more products which appeal to a very small market with high disposable income. Yes but that isn't a reduction in production. Also the marginal propensity to invest is higher for those with above average incomes. And over time the extra investment will produce extra wealth. And all of that is assuming a large shift in inequality which actually hasn't happened over the past decade or two nearly as much as most people think it has. See Message 28414280 Message 28278878 Message 28308494 Less directly Message 27927364 Also unaddressed by any of those links is that with lower top marginal rates the rich realize more income. Sure they actually get more (since less is taken away from them, and since wealth creation isn't as disincentivized) but in addition to those effects, after they have been accounted for, the rich will still report less income. They have less incentive to avoid, or evade, reporting income, and so there reported income (used as a basis for calculations of inequality of income) goes up to a greater degree then their income increases.