HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » STB chairman says higher ... » Reply #4

Response to elleng (Original post)

Sun Aug 7, 2022, 12:04 AM

4. Higher pay in general will solve a lot of problems

It will increase Federal and state tax revenue, lowering deficits.

It will increase OASDI and Medicare funding, shoring those up.

It will allow people living on the edge, working those jobs we recently found out were essential to afford nutritious food, safe housing, and even enough savings that they no longer have to rely on predatory lending companies.

It will allow people to feel they are a part of this country for the first time since the early 70s, being paid a fair wage does that, too.

It will decrease homelessness as people become able to save enough to rent, rather than living in shelters.

Employment will increase, since every penny spent at the bottom has a multiplier effect as demand and labor are added to it as it goes through the economy.

It won't do everything at once, but it's a good start on some of the other reforms we desperately need, like a progressive tax system, breaking up the monopolies (starting with media and banking), and freeing up seed money for entrepreneurs.

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 5 replies Author Time Post
elleng Aug 2022 OP
CurtEastPoint Aug 2022 #1
Emile Aug 2022 #5
ret5hd Aug 2022 #2
czarjak Aug 2022 #3
LineNew Reply Higher pay in general will solve a lot of problems
Warpy Aug 2022 #4
Please login to view edit histories.