JavaScript is required to use Bungie.net

OffTopic

Surf a Flood of random discussion.
Edited by Progo: 6/16/2015 7:09:55 PM
31

"Pay low income families more" -IMF

Increase pay for the poor

136

Do not change the pay

178

View results/undecided

121

[quote] The idea that increased income inequality makes economies more dynamic has been rejected by an International Monetary Fund study, which shows the widening income gap between rich and poor is bad for growth. A report by five IMF economists dismissed “trickle-down” economics, and said that if governments wanted to increase the pace of growth they should concentrate on helping the poorest 20% of citizens. The study – covering advanced, emerging and developing countries – said technological progress, weaker trade unions, globalisation and tax policies that favoured the wealthy had all played their part in making widening inequality “the defining challenge of our time”. The IMF report said the way income is distributed matters for growth. “If the income share of the top 20% increases, then GDP growth actually declines over the medium term, suggesting that the benefits do not trickle down. In contrast, an increase in the income share of the bottom 20% is associated with higher GDP growth,” said the report. [/quote] Thoughts? Edit: That feel when you can tell everyone is just liking the bobcast comment and moving on instead of commenting.

Posting in language:

 

Play nice. Take a minute to review our Code of Conduct before submitting your post. Cancel Edit Create Fireteam Post

View Entire Topic
  • Edited by Kazzong: 7/17/2015 4:06:08 AM
    I think that the minimum wage is fine as is. it wasn't ever intended on being a wage that could support cost of living. it was intended to give high school students something to do in the summer to earn a little cash, and gain some experience in a real work environment. but when people outside of high school, who have bills and sometimes have families cannot get a BETTER, higher paying job for whatever reason... they are forced into a minimum wage job. ( which causes other problems outside of their own. more on the scale of national economy status ones.) The US is the most over-qualified work force in the world. so many people go to school for years to get a good education, but cannot seem to get a good job despite being able to do the job well. hence they are forced into flipping burgers or something similar. I think that if we really want to help people have a better standard of living, the key is not to raise the minimum wage, but rather help people get the better job. when you give companies reasons create jobs within a field, people flock to the opportunities. increased innovation and industry are what keeps an economy healthy and happy. while just throwing money at a problem like this tends to only make things worse. if we can get the over-qualified people out of minimum wage jobs and into those ones... then things balance out because people who have to pay bills will make enough to do so, while those high school students who do not have that need, are not making as much, but still have plenty for their wants. if we simply raise the minimum wage, then companies who pay minimum wage to their employees will generally do one of two things: a) cut jobs to keep earnings rates the same, or b) raise the prices of their products/services to cover the new amount that they are having to pay. (some companies may do both.) now not all companies will act the same, so the end result will be a combination of the two, leaving less people with jobs and a higher overall cost of living. which is the exact opposite of what we want. also, many small businesses may simply not be able to afford to pay employees at the higher rate and could go out of business altogether, thus the job market shrinks even further. so to me the best course of action is to help people who need to pay bills and support families out of minimum wage (or under the cost of living) jobs, and into a better paying job.

    Posting in language:

     

    Play nice. Take a minute to review our Code of Conduct before submitting your post. Cancel Edit Create Fireteam Post

    6 Replies
    You are not allowed to view this content.
    ;
    preload icon
    preload icon
    preload icon