I'm guessing Trump logic is that people with more money are more likely to spend that money back into the economy. The issue here is assuming people with a net worth of tens to hundreds of millions of dollars are penny pinchers under current taxes. Because that extra million in taxes means they can only hire one butler instead of two.
A higher minimum wage (also legalization and regulation of marijuana at the federal level because it has been shown to be a [i]huge[/i] boost for state revenue) would do more for the economy than broken tax logic. A higher min wage means more disposable income which means more money being spent on luxuries as well as necessities which helps the economy.
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[quote]I'm guessing Trump logic is that people with more money are more likely to spend that money back into the economy. The issue here is assuming people with a net worth of tens to hundreds of millions of dollars are penny pinchers under current taxes. Because that extra million in taxes means they can only hire one butler instead of two. A higher minimum wage (also legalization and regulation of marijuana at the federal level because it has been shown to be a [i]huge[/i] boost for state revenue) would do more for the economy than broken tax logic. A higher min wage means more disposable income which means more money being spent on luxuries as well as necessities which helps the economy.[/quote] No this is false, minimum wage shouldn't exist let alone be raised. You artificially raise wages you eliminate the demand for the job. Lowering taxes gives incentives for economic growth the wealthy are only wealthy through investment and risk, more money=more investment =more jobs
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No minimum wage means either everyone goes on salary or businesses pay whatever wages they want. The first doesn't work for businesses that rely on employees with highly fluctuating hours. The second means businesses will always push it as low as they can. Because people need jobs, they'll still [i]have[/i] to go for it even with wages that make Chinese sweathouse wages look like the coffers of kings. So tell me, how do you fix a situation where a minimum wage protects both the business and the worker?
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[quote]No minimum wage means either everyone goes on salary or businesses pay whatever wages they want. The first doesn't work for businesses that rely on employees with highly fluctuating hours. The second means businesses will always push it as low as they can. Because people need jobs, they'll still [i]have[/i] to go for it even with wages that make Chinese sweathouse wages look like the coffers of kings. So tell me, how do you fix a situation where a minimum wage protects both the business and the worker?[/quote] You need to learn how economics works just like supply and demand and competition and prices there's supply and demand and competition in wages as well the idea that they would pay little to nothing is a fantasy that has never happened in a free market
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That's why it would totally happen in a free market. The Great Depression itself occurred in a market with less government intervention than we currently have. Tainted food used to be a huge issue. How about the snakeoil industry? A free market seems to really hurt the people.
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[quote]That's why it would totally happen in a free market. The Great Depression itself occurred in a market with less government intervention than we currently have. Tainted food used to be a huge issue. How about the snakeoil industry? A free market seems to really hurt the people.[/quote] Snake oil salesmen still exist lol its called self responsibility no the great depression was caused by government hoover caused a trade war by raising tarifs and it hurt the economy