2006-06-24 12:27:50 · 10 answers · asked by coachj444 2 in Politics & Government ➔ Other - Politics & Government
Different economic philosophies - the bush/reagan philosophy of "trickle down economics" says that if minimum wage is low and taxes for the rich are low then the rich people will invest more and grow their businesses faster and more people will have jobs. If a company has to pay more for their workers, they would be forced to hire less workers, thus producing less and then americans would buy more foreign products, hurting our economy.
This of course is countered by the opposite philosophy which says that (aside from the humanitarian issue of forcing a minimum wage earner to live on $10k/year) the more money people make, the more they will spend thus growing the economy.
I agree with the latter philsophy, since i think that trickle down is b.s. - just graph minimum wage vs. CEO pay and you'll see how many workers you could hire with the excess of a CEO's salary (approx $40k/day). but if you wanted to find definitive proof that one is "better" then the other you'll be fresh out of luck because you can warp statistics to spin both ways.
2006-06-24 12:41:49 · answer #1 · answered by gradient descent 2 · 1⤊ 2⤋
no. I think the President has a Fed that understands the basic relationship between minimum wage and the cost of everything else. As minimum wage increases, cost goes up. Clinton's Fed did the same thing.
2006-06-24 19:35:46 · answer #2 · answered by pjflyboy9 2 · 0⤊ 0⤋
No, it does not seem odd. Bush and the Republicans love seeing the wage gap widen and widen. Their goal is to make the rich richer and keep the poor poor. And guess what? For these past 6 years it has worked.
2006-06-24 19:55:30 · answer #3 · answered by Dan 3 · 0⤊ 0⤋
It's been the same for 10 years.
2006-06-24 20:03:17 · answer #4 · answered by Incorrectly Political 5 · 0⤊ 0⤋
You should not really moan! i live in the uk and you have much lower tax rates so you get much more of the money you earn!
God i hate the taxman! i swear i have to work at least 2 days jus to get a decent amount! And then we have to pay more tax on fings we buy then ne1 else even in mainland europe ! it's stupid!
2006-06-24 19:37:19 · answer #5 · answered by fez0 2 · 0⤊ 0⤋
Not odd at all. He's a good friend of business, who doesn't want it raised. (The last two raises were in 96 and 97.)
2006-06-24 19:35:08 · answer #6 · answered by Anonymous · 0⤊ 0⤋
it is past time that the minimum wage be raised in the US
2006-06-24 19:39:28 · answer #7 · answered by Anonymous · 0⤊ 0⤋
don't just blame Bush, it's was the same when Clinton was in office as well!
2006-06-24 19:31:25 · answer #8 · answered by Pobept 6 · 0⤊ 0⤋
Unusual. The liberals usually try raise it every year.
2006-06-24 19:31:31 · answer #9 · answered by Modest intellect 4 · 0⤊ 0⤋
Not as strange as Bush, himself.
2006-06-24 19:31:33 · answer #10 · answered by Isles1015 4 · 0⤊ 0⤋