August 4, 2017

Friday Off-Topic (Moderated) Open Thread (080417)

Filed under: Lucid Links — Tom @ 6:00 am

This open thread is meant for commenters to post on items either briefly noted below (if any) or otherwise not covered at this blog. Rules are here.

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  1. Study: Increasing Minimum Wage Would Cost One Maryland County 47,000 Jobs

    http://hotair.com/archives/2017/08/03/study-increasing-minimum-wage-cost-one-maryland-county-47000-jobs/

    However, there would be offsetting costs and they could be substantial: a loss of almost 47,000 jobs and $396.5 million in total income by 2022, due to workers’ being priced out of the job market by the higher minimum wage. This would spell a reduction of nearly $41 million in expected county tax revenue between fiscal 2018 and fiscal 2022; meanwhile, the county government’s payroll costs would go up $10 million.

    Irony alert, idiot liberal (but I repeat myself) politicians seeking to up the income tax collections surreptitiously by jacking up the minimum wage cause the overall tax revenue to DROP. Where have we seen and heard that before? The millionaire’s tax.

    Here is the proof of the flip side: JFK/Reagan’s tax rate cuts increase tax revenues called Supply Side Economics (investment driven economy).

    Make no mistake, liberals aren’t pushing for $15 minimum living wage because they “care” about the poor, they only care about raising more revenue for their vote buying hand outs. They already admitted before that there would be job losses. It’s a vicious downward cycle.

    FYI- What liberals are basing their idiocy on is Demand Side Economics where consumption is considered the prime driver of the economy and NOT investment as in Supply Side Economics. This is why Democrats for decades (before Reagan) engaged in Pump Priming the economy via deficit spending in their Keynesian belief system. It’s simplistic nonsense reversing cause and effect. Obamanomics just took this idiocy to the next level doubling the national debt in 8 years and then they proclaimed the new normal of less than 3% growth.

    Like with ObamaCare, was Obamanomics a means to destroy the existing system to establish a new system. ObamaCare was designed to fail to pave the way for single payer. Was Obamanomics similarly designed to end in failure via bankruptcy paving the way to what? The Soviet economic system, which we know failed.

    Comment by dscott — August 4, 2017 @ 8:15 am

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