Restaurant Workers Lose Their Jobs Over Newsom’s $20 Minimum Wage

While productivity has increased significantly, the growth in wages for typical workers has not kept pace with inflation over the past four decades. This disparity underscores the need for policies that address wage stagnation and promote equitable economic growth. In other words, workers earn more disposable income than they are receiving.

Don't forget: The wealth of the top 1% continues to outstrip that of the entire middle class. That extreme wealth by the 1% of the 1% has NOT been earned.

 

Yes, production employment only when demand is created. The production created wealth via labor/technology.

 

JFC read the post I DID PROVE IT. You seem to have a habit of demanding people prove things and then when they do you obfuscate for page after page and then claim they didn't and demand they do again.

KEY TAKEAWAYS:

• Top earners benefit the most from Biden’s student loan giveaway, despite the Administration’s efforts to target low-income borrowers. According to the CFRB, “57 percent to 65 percent of the extended pause and cancellation will go to those in the top half of the income spectrum.”
• Even assuming full participation across incomes, highest earners still reap the most financial reward. As noted by CFRB, in order to receive the handout, Americans must fill out an application, “which is likely to be a more significant barrier to lower income borrowers with fewer resources, particularly those who have long been in default or forbearance and are thus detached from the system.”
• Earnings from the last two years are skewed. The pandemic caused even high-income households to report lower incomes than usual, nullifying the Administration’s means-testing efforts. The CFRB goes on to note that those with high earning potential (and therefore are more able to pay off their student debt), such as lawyers and doctors, often take on temporary low-income jobs.

https://waysandmeans.house.gov/study-wealthy-reap-vast-majority-of-benefits-from-bidens-student-loan-giveaway/#:~:text=Despite the Administration's attempts to,two thirds of the giveaway.

Canceling All US Student Debt Would Mostly Benefit High Earners

They find that following universal student-debt forgiveness, the average person in the top decile of the earnings distribution would receive more than five times as much relief as the average person in the bottom decile, and almost half of all relief would go to people in the top 30 percent of the distribution. “Patterns are similar under policies forgiving debt up to $10,000 or $50,000,” they write, “with higher-income households seeing significantly more loan forgiveness.”
https://www.chicagobooth.edu/review/canceling-all-us-student-debt-would-mostly-benefit-high-earners


Biden’s Student Loan Forgiveness Plan Makes the Poor Pay for the Rich

...While the intention behind President Biden’s student loan forgiveness may appear noble (in likelihood, it is a rent-seeking move), the results may prove detrimental to our nation’s economic stability and fairness. And if the debt is monetized, more inflation will result.

Forgiving student loans will exacerbate existing problems, with the brunt of the burden falling on lower-income Americans. Instead of improving the situation, it will likely create an intricate web of financial consequences, indirectly affecting the very people it aims to help. But that is the result of most government programs with good intentions.
https://www.econlib.org/bidens-student-loan-forgiveness-plan-makes-the-poor-pay-for-the-rich/

You said the rich don't take out loans and don't need them so prove that the majority of those who would benefit here are the poor.

 

Yep and Biden wants it back and forgive it all.

 

I know they're excellent propaganda tools. I'm going to fill up my car today at $4.30 a gallon and then go grocery shopping where everything is almost double what it cost a few years ago. Where's your graph for that?

 

LOL.

You have no clue what the new policy is about.

As you agree with me, the old policy was ruled unconstitutional and that's not going to change.
This new one could be ruled that way also. But less likely, since I'm sure the USSC ruling was taken into account with this new policy.

 

Not if they point to actual data/statistics/facts.

You have a very very broad brush. And I don't think you know the difference between propaganda and data.

You don't understand inflation? Likely why you don't know data/stats/facts and charts.

 

Thanks for the source

 

What then do you claim creates wealth??

 

Students typically do not make more than $125K per year.

 

It's geared toward students.

 

That's the risk of doing business. The workers nevertheless get paid for producing the goods. Nobody is selling whale oil these days. Petroleum saved the whales.

 

Businesses do market analysis and risk analysis before going into production. Production occurs, wealth is created, and goods are purchased and consumed. Production always precedes economic demand. QED.

 

My god man. This is the the group that based their findings on this:

The totality of the finding is that they think low income people filling out an application wouldn’t happen, thus rich people will get all the money

MY God man!!!

I have already rebutted this throughly…..

http://www.politicalforum.com/index...0-minimum-wage.618058/page-20#post-1074764972

I already destroyed that….

 

You don't know what this new program is about?
It has been linked in this thread already.

Students of today are not the target of this program. As has been shown.

 

I repeat.
Read the details, links have been provided, about the target loan payers.

Your claims it's geared to students seems way off base.

 

I see.
So you claiming production creates wealth is now not the case per your post above.

For producing something no one wants or needs creates nothing.
And the employer, having no sales won't have the money to pay the workers. So they may not get paid.

 

Not to mention.
That plan is from over 2yrs ago that the poster is referring to. That's the one the USSC said was unconstitutional?

It's not the same plan being tried today.

 

I understand that gasoline just cost me $4.30/gal and groceries are almost double from a few years ago. Ask people paying rent for an apartment how things are? Ask people why their home energy bill is 1/3 higher than a few years ago.

 

Kinda sounds like communism: Production levels are determined by the State via advanced planning mechanisms rather than supply and demand.

 

Again that’s the risk of doing business. Successful businesses produce goods that people want to buy. Production always precedes consumption. QED.

BTW workers get paid immediately for their work. They don’t have to wait to be paid from sales revenue.

 

How do you come up with that conclusion??

 

Ahh so the while poor blacks can't get ID's to vote is a hoax?

Hardly. And the fact remains that lower earning people will pay for these highest earns loans. If you are going to forgive loans why no home mortgage loans?

 

He hasn't been abke to get his full policy the SCOTUS stuck him down so now he is again trying to go around them with the ultimate goal to forgive it all.

 

The graph I posted is inflation adjusted so your statement doesn't make sense. Or, you could post some data to back up your assertions.
How would I forget the at the 1% didn't earn their wealth when I never agreed that it was the case anyway. Another unsubstantiated remark.