Obama and minimum wage

[Jim in CT]

Originally Posted by Nebe

If people's incomes were higher, consumption would be higher and the economy would be booming. You can't have higher and higher costs of living without higher pay rates across the board.
Posted from my iPhone/Mobile device

Eben, I agree that if people have more disposable income, that helps the economy. But that ONLY WORKS if the people earn that higher income in the free market cycle (menaing, if customers freely choose to give the workers that extra income). The economic benefit of higher income does not apply when the higher income results from the government forcibly confiscating that extra money from someone else. Nor would it apply if the feds simply printed more money and gave it to poor people.

I wish more people were as concerned with stagnant incomes as you and I. Because despite Obama's record-setting spending, median income is down 8% since he took office. And very few people seem to hold him accountable for that.