Raising the minimum wage is good for the economy.

If an "uber-rich" person "sinks" money into property, where do yo uthink that money goes? Do they put it in a bundle and leave it on that property? I mean, you seem to believe that spending creates economic growth, so doesn't spending money on property effectively move that money into the pockets of others?

I really don't know why you people even bother with economics, Your thinking is so completely muddled, contradictory, and full of catch-phrases that I can only gather that you are completely blind to the ridiculousness of those thoughts.

Demand is meaningless. You can demand things all you want. You don't get something unless you produce something first, or steal it. This is Say's law. It is fundamental to all economics. It is not overridden because your legislator casts a spell with words on paper and a great speech.

So taxing poor people more is a good thing? The business owners are paying more in business expenses, so it's not their money being taxed.

Great, go visit the BLS and compare black youth unemployment to increases in minimum wage. Tell me what you see. I'll give you a hint, if you don't find it tragic, then you are as racist as they come.

It's good because the rich don't like it. That is a moral argument, not an economic one. It puts you right up their with the religious busybodies who want to control your life.

 

I never claimed to be "economic expert" however I'm not an economic neopyte such as yourself. The courses in economics I've taken were in relation to obtaining an accounting degree. However, there are a few "economic experts" (I call them "economists") on this forum you can seek if you'd like. However, I would recommend setting your partisanship aside if you do.

That said, let's turn the conversation towards Say's Law, as is seems to be an excellent opportunity for clarification (since you seem unfamiliar)

What do you think it means?

 

So no more generational wealth? Your mom can't leave you the house she spent 30 years paying for? Who does it go to?

 

Unless mom is VERY rich...mom will never be effected

 

If an "uber-rich" person "sinks" money into property, where do yo uthink that money goes?

Actually unless banks are lending...paying back loans doesn' t do a lot for the economy. If they're not...they pay off the loans THEY took to give you yours and eventually that money disappears. HUH you say?
Just as money that the Fed lends out to banks is "created out of thin air" as it is paid back it goes where it came from

 

Tell that to the old people in Chicago an else where in cities that own their own homes but had to sell and move because they couldn't afford the Democrats property taxes.



.

 

So if I buy property from another seller, the money goes nowhere? Or are you trying to sidestep the question?

 

I know exactly what supply side stupidity has to offer, there is a record of it's results in hundreds of place. Over 35 years of all new increase wealth, which have been massive, going into the hands of the few. Why are you one of them With your I know it all attitude? This is a clear statement, argue that and tell us how that happened. I always love the excuses you get with the last 35years from the me me group. They just all of a sudden got smarter, they worked harder, they say they deserve it. I ask why do they deserve all of it and to what ends will be the outcome
Pack this up in your little hate group mind meld. If you take the incentive out of capitalism, it collapses. Your nothing other then a ringed nose puppet, totally controlled by the people who benefit from the trickle down lie.
Just for a point of interest what was expected when Reagan sold this lie to this country. Droping the tax rate from 70% to 28%

 

The title of this thread has totally been debunked. Ask the people that were fired in cities and states that raised the min wage.

 

maybe it was raised too much, too quick

the middle class' wages have been stagnant over the last 35 years.

while the rich has seen their income skyrocket, due to the labors of the middle class.

 

Try to keep up. Property taxes are not Estate taxes

 

So you don't understand how the Fed works?

 

And where might that be?

Links please.

 

Boo-yah!

 

Still sidestepping the question. Look, unless you argue that the Fed is giving banks money so they can pay interest, the money to pay interest on savings and investment must come from somewhere. From where do they get the money to pay interest?

 

So you don't understand how the Fed works...

The Fed creates it out of thin air. And loan it out. When it's paid back it goes back to where it came from. The ether.