Plan A: Tax the rich! That will save our economy!
Plan B: Raise the minimum wage! The poor will save our economy!
The math doesn’t work for either of those solutions. Taking every penny from the rich wouldn’t generate enough cash to dent the deficit. A job that pays $10 an hour still doesn’t take anyone to the middle class. Maybe we should make it $20/hour, hell why not $50/hour? Then everyone would be wealthy. Does anyone think that would have any negative effects?
When something costs more, people buy less of it. That goes for labor as well as Dom Perignon. Businesses will hire less or raise their prices to offset their higher operating costs. That’s not economics, it’s common sense.
This whole minimum wage thing is REALLY about keeping the goodies flowing so the low info, what’s-in-it-for-me voter will keep picking the Democrat.