Economy Right wing economic theory BTFO again.

[no fat chicks]

First they were wrong with trickle down economics nonsense.

Now with the fight against allowing for an increase in the minimum wage. All because it will hurt muh economy.

https://www.bbc.com/news/business-58870395

Apparently paying people above slave wages isn't as disastrous as many here would have led us to believe.

The study has won the author this year's noble prize in economics.

Sad the party of fiscal responsibility doesn't seem to have a grasp on how things work in the real world.

Next step is to push UHC on these dummies.

Sadly many would rather everyone do worse, as long as it hurts the poor more than them.
Just as Jesus would have wanted.

 

[ShadowRun]

Lol false outrage


His work on the minimum wage was conducted at Princeton in the 1980s in collaboration with Alan Krueger, who went on to become assistant secretary of the Treasury under President Obama.

They surveyed restaurants in New Jersey before and after the introduction of a minimum wage in the state, an approach that was quite unusual at the time, Prof Card said.

But he said their findings, that the minimum wage had not led to significant job losses, was not immediately accepted.

"People thought we were either cooking the books or had lost our minds or did something untoward or foolish," he said.

However the methodology, of collecting and analysing real world data, opened people's eyes to a new way of analysing the economy, he said.

His subsequent work has included the impact of immigration on domestic employment in the US and how company wage policies determine gender and ethnic pay gaps.

 

[Aegon Spengler]

They don’t care about the economy, pollution or school shootings. Correcting those problems isn’t on the Republican agenda.

They care about university students being too liberal and hating immigrants, that’s it. Talking to a Republican about the economy is like talking to a child about something other than toys. They can’t pay attention.

 

[HereticBD]

They don’t care about the economy, pollution or school shootings. Correcting those problems isn’t on the Republican agenda. They care about university students being too liberal and hating immigrants, that’s it. Talking to a Republican about the economy is like talking to a child about something other than toys. They can’t pay attention.

So, when you put all these militant stipulations on the big money, and the big money fucks off, where does the money come from to pay for your utopia?

Just asking.

 

[Aegon Spengler]

So, when you put all these militant stipulations on the big money, and the big money fucks off, where does the money come from to pay for your utopia?

Just asking.

"Militant stipulations" like a minimum wage designed to ensure workers make enough money to live? You consider that "militant"... heh. Gotchya.

 

[Sketch]

So, when you put all these militant stipulations on the big money, and the big money fucks off, where does the money come from to pay for your utopia?

Just asking.

Middle class people stuck paying taxes.

 

[SBJJ]

"Militant stipulations" like a minimum wage designed to ensure workers make enough money to live? You consider that "militant"... heh. Gotchya.

Fry cooks are making 18 bucks an hour where I live. How much higher you think we should go?

 

[RogerB08]

Conservatives don't care about policy. They've gone all in on their imaginary un-winable culture war to turn back the hands of time; it's their new lost cause.

 

[Sketch]

Fry cooks are making 18 bucks an hour where I live. How much higher you think we should go?

Unionize them.

 

[nostradumbass]

Whoa, guys with rich parent and no real jobs gave an award to another guy without a real job.

Prof Card initially thought the news of the award was "a joke" played on him by an old high school friend, he told the BBC.

"Right wing economic theory" is called capitalism, and it's lifted the most people out of poverty of any economic system, and has had the longest streak of success of every system ever created.

 

[Aegon Spengler]

Fry cooks are making 18 bucks an hour where I live. How much higher you think we should go?

Depends on the cost of living and kind of profit that the business is making.

Collective bargaining agreements are considered normal in first world countries because they address these kind of concerns.

 

[HereticBD]

"Militant stipulations" like a minimum wage designed to ensure workers make enough money to live? You consider that "militant"... heh. Gotchya.

It's not about what I think. It's about what the super rich think, when they're being told to pay $15-$20 an hour to people in one country, to do the same job they can pay people a bowl of rice a day to do in another country. Are they gonna just do it out of the goodness of their hearts?

 

[Sketch]

Conservatives don't care about policy. They've gone all in on their imaginary un-winable culture war to turn back the hands of time; it's their new lost cause.

I don't think your average conservative really cares about a supposed culture war to be honest. That's also mostly an American thing. It seems that nowadays a lot of Conservatives are made up of people who just aren't fully onboard the woke liberal train. These are just normal people who see the wacky nature of the clown world that is now ever present in all of our lives and they are not happy with the way things are going.

 

[SBJJ]

Unionize them.

So they can make a buck less and pay union dues? Would totally suck for them.

 

[SBJJ]

Depends on the cost of living and kind of profit that the business is making.

Collective bargaining agreements are considered normal in first world countries because they address these kind of concerns.

Fast food joints are mostly franchises. There would be no way to do what you are saying.

 

[EndlessCritic]

First they were wrong with trickle down economics nonsense.

https://www.aei.org/carpe-diem/thom...and-then-profits-flow-upward-later-if-at-all/

The phrase “trickle down” often comes up in discussions of tax policies. Historically, tax revenues have in a number of instances gone up when tax rates have been reduced. But any proposal by economists or others to cut tax rates, including reducing the tax rates on higher incomes or on capital gains, can lead to accusations that those making such proposals must believe that benefits should be given to the wealthy in general or to business in particular, in order that these benefits will eventually “trickle down” to the masses of ordinary people. But no recognized economist of any school of thought has ever had any such theory or made any such proposal. It is a straw man. It cannot be found in even the most voluminous and learned histories of economic theories.

What is sought by those who advocate lower rates of taxation or other reductions of government’s role in the economy is not the transfer of existing wealth to higher income earners or businesses but the creation of additional wealth when businesses are less hampered by government controls or by increasing government appropriation of that additional wealth under steeply progressive taxation laws. Whatever the merits or demerits of this view, this is the argument that is made – and which is not confronted, but evaded, by talk of a non-existent “trickle-down” theory.

More fundamentally, economic processes work in the directly opposite way from that depicted by those who imagine that profits first benefit business owners and that benefits only belatedly trickle down to workers.

When an investment is made, whether to build a railroad or to open a new restaurant, the first money is spent hiring people to do the work. Without that, nothing happens. Even when one person decides to operate a store or hamburger stand without employees, that person must first pay somebody to deliver the goods that are going to be sold. Money goes out first to pay expenses and then comes back as profits later – if at all. The high rate of failure of new businesses makes painfully clear that there is nothing inevitable about the money coming back.

 

[SBJJ]

It's not about what I think. It's about what the super rich think, when they're being told to pay $15-$20 an hour to people in one country, to do the same job they can pay people a bowl of rice a day to do in another country. Are they gonna just do it out of the goodness of their hearts?

Also, there is a reason WMT & AMZN support a universal 15 buck wage. It will only hurt their small biz competition, giving them an even larger portion of the market

 

[Sketch]

So they can make a buck less and pay union dues? Would totally suck for them.

A buck less? They would get paid more. Union dues are minuscule.

Paid sick days
Paid Vacation
Pension plan matching contributions
Job Security

etc

 

[RogerB08]

"Right wing economic theory" is called capitalism, and it's lifted the most people out of poverty of any economic system, and has had the longest streak of success of every system ever created.

That's a joke right? A system that mandates a permanent underclass lifts people out of poverty<Lmaoo>

 

[skold]

Does the right wing even have an economic policy, besides "cut taxes"?