I never took a formal class in economics. The closest I came was business math in the ninth grade. I do understand the concept of money and making a profit. I'll admit to being woefully uninformed in the world of high finance. With all this talk of the national debt, the United States possibly defaulting on its' loans and raising the debt ceiling I have been giving this stuff some thought. I would like the Secretary of the Treasury to explain a few things to me. Really just one major point would do. If we, ( The United States of America ) , need to borrow money, why are giving it away ? Call me simple minded if you will but I just feel like it is a foolish thing for me to borrow ten dollars so I can give away five of it. Now I'm all for charity and helping out my fellow man but this is just plain bad economics.
I didn't listen to the State of the Union address. I'm sorry, just couldn't bring myself to endure that. I did hear the next day the President is talking about raising the minimum wage to 9.25. I fail to see how that will improve anything. All the other costs are not going to remain the same as they are today. If Obamacare stays in place as the law of the land an increase in the minimum wage will just force more employers to either not hire or go to more part time help. Not being an economist I can still understand that much. We would be better served to lower the cost of services and products. Increasing the cost of doing business helps no one. Well except for the government would see an increase in tax revenues. Another of those mysteries in high finance. The government providing the cash, taxing the same cash, and then telling me how much better off I am.
The increase in the minimum wage is just a bunch of smoke and mirrors. Providing the lower class with the false image of more buying power. It is an illusion. The disparity in wage between the skilled and unskilled laborers will still exist. The government can mandate a minimum wage standard but those with skills can demand more. An increase in the minimum will ultimately result in a rise for the skilled as well. The only way this raising of wages will work is if we went to a Communist plan. Everyone gets the same.
Just my view of the situation but I don't posses a degree in economics. Maybe I'll figure it out one day. If I borrow enough money I can be rich ! Sounds like a plan.
I didn't listen to the State of the Union address. I'm sorry, just couldn't bring myself to endure that. I did hear the next day the President is talking about raising the minimum wage to 9.25. I fail to see how that will improve anything. All the other costs are not going to remain the same as they are today. If Obamacare stays in place as the law of the land an increase in the minimum wage will just force more employers to either not hire or go to more part time help. Not being an economist I can still understand that much. We would be better served to lower the cost of services and products. Increasing the cost of doing business helps no one. Well except for the government would see an increase in tax revenues. Another of those mysteries in high finance. The government providing the cash, taxing the same cash, and then telling me how much better off I am.
The increase in the minimum wage is just a bunch of smoke and mirrors. Providing the lower class with the false image of more buying power. It is an illusion. The disparity in wage between the skilled and unskilled laborers will still exist. The government can mandate a minimum wage standard but those with skills can demand more. An increase in the minimum will ultimately result in a rise for the skilled as well. The only way this raising of wages will work is if we went to a Communist plan. Everyone gets the same.
Just my view of the situation but I don't posses a degree in economics. Maybe I'll figure it out one day. If I borrow enough money I can be rich ! Sounds like a plan.
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