Quote:
Originally Posted by $5 submissions
Did you read the article?  |
I don't need to read an article, the basic fact is they raised min wage to $15/hr and jobs did not run away... I don't need need to read an article of excuses as to why the doom & gloom didn't happen.. I understand basic economy.
More money in the hands of more people equals more spending which equals more economy. It's very simple. but as always things must be kept in check.. $15/hr is sustainable but trying to raise min wage to $30 would not for example. Wages "HAVE" to be kept in check with inflation and that's what they did..
The reason our middle class is shrinking is because wages have not kept up with inflation and people are incurring more debt as a result. More debt is good for the 1% but not good for growing the economy or the middle class.
One half of our govt understands this, the other half pretends not to because they only care about the 1%..