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In reply to the discussion: Median incomes are not growing as fast as they should be. This is true. And it is a serious problem. [View all]cthulu2016
(10,960 posts)1. In the face of these wage declines, why is the primary concern what people think of Obama?
The OP starts off being about how to address declining real-dollar wages, but then veers off into a thing about how people complain about Obama too much.
So the thrust of the OP is not really policy, but proper apportionment of blame.
If one wanted to talk about policy they could just talk about policy.
Raising the minimum wage this addresses wages directly. Most important single American priority. Should be $15.
Increasing taxes on top earners might be good policy for other reasons, but doesn't improve wages. Taken by itself, actually reduces wages slightly by reducing aggregate demand, unless one specifies that the increased tax revenues will be spent... that none will be used for deficit reduction in the near term.
Expanding the earned income tax credit, a program which helps lower income workers helps mitigate the effect of low wages
Extensive investment in infrastructure, which will put people to work and increase aggregate demand helps wages in aggregate on the demand side. If tied to #2, is a welcome wealth redistribution.
Increasing taxes on top earners might be good policy for other reasons, but doesn't improve wages. Taken by itself, actually reduces wages slightly by reducing aggregate demand, unless one specifies that the increased tax revenues will be spent... that none will be used for deficit reduction in the near term.
Expanding the earned income tax credit, a program which helps lower income workers helps mitigate the effect of low wages
Extensive investment in infrastructure, which will put people to work and increase aggregate demand helps wages in aggregate on the demand side. If tied to #2, is a welcome wealth redistribution.
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Median incomes are not growing as fast as they should be. This is true. And it is a serious problem. [View all]
DanTex
Apr 2014
OP
In the face of these wage declines, why is the primary concern what people think of Obama?
cthulu2016
Apr 2014
#1
Why do you say that when ProSense provided a chart with both real and nominal figures?
stevenleser
Apr 2014
#21
Prosense is referring to a trend in the last month/year, which is small in comparison to what is
DireStrike
Apr 2014
#53
Nonsense. The trend has been upward for the last three years. The chart shows that. n/t
ProSense
Apr 2014
#56
Yes, if you squint really hard you can see a very minor increase in real wages
DireStrike
Apr 2014
#58
"...I expected dismissal, and your comment flies in the face of the reality."
NCTraveler
Apr 2014
#13
Prosense, you have not come close to making the case that this is fundamental and structural change.
NCTraveler
Apr 2014
#22
"it seems more like vague generalities rather than specific policy objections"
NCTraveler
Apr 2014
#38
Raising the minimum wage won't have any effect on the median income, will it?
Donald Ian Rankin
Apr 2014
#15
Not really. Increasing the minimum wage improves the safety net, but doesn't help most of us.
reformist2
Apr 2014
#19
Good point. But I don't think 50% of workers are making $10 or less. Maybe 25-30% of workers.
reformist2
Apr 2014
#25
Yes, the pressure from the artificial floor should decrease somewhat as you go up, but
cthulu2016
Apr 2014
#31
As cthulu pointed out, it would likely have indirect impact on wages beyond just
DanTex
Apr 2014
#57
Proud to be the first to rec this. Obama has fought HARD for the minimum wage
Cali_Democrat
Apr 2014
#16