Comments by "whyamimrpink78" (@whyamimrpink78) on "How Right-Wing Economics Destroyed Kansas" video.
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TheAstraeuss The problem with you is that you can't tie everything to inflation. Everything doesn't inflate. Take, for example, a car. While cars may seem more expensive on the surface, they last longer, get better gas mileage, and are safer. So the value of the care is lower and more affordable. Look at the pocket calculator, it was around $200 at the beginning, now they are practically free. Heck, for $200 you can get a cell phone with a calculator and camera.
Now compare that to labor. Look at blockbuster. Those employees are now worth $0/hr. When the tractor was invented, it made farm workers worth $0/hr at that job. In my hometown there was a battery plant that employed over 800 people that paid well with great benefits. In the 90s so many appliances needed batteries. Now with batteries on board that are rechargeable the demand for batteries dropped. When the plant closed down 2 years ago it employed 200 people. Those employees in that job are worth $0/hr.
Some jobs have increased in value while others have decreased and others have remained the same. This idea that businesses pay low is a lie as well. Less than 5% of workers earn at or below the min. wage, the average hourly earnings is $24/hr. 2/3 of min. wage workers get a raise within a year. Businesses already pay more. You are being the greedy one wanting to force them to pay more then they can afford.
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***** With lower turnover than there will be less jobs. How will our job outlook be if nobody retired? Or if nobody left entry level jobs so that those with low skills can't get a job. We will have limited growth thus less jobs and high unemployment.
Giving away money doesn't help the economy, it makes it worse. Money derives it's value from goods and services available. What drives our economy is trade, not money. Money is there to solve two problems, the double incident of wants problem and the retention of value problem. The double incident of wants problem is that both parties need to agree on what is being traded. So if you can make furniture and I am a scientist, chances are you won't need my services so I can't get something like a chair from you. But now that I have money we can agree to trade that and you can take that money and trade it elsewhere. The retention of value problem is that say I am a chicken farmer, I won't be able to save up enough chickens to by something big because chickens die. But I can save money.
In the end, though, you can't eat money, you can't run your car on it, or heat your home. You eat food, you heat your home with gas or electricity, you run you car on gas. If you give out more money to the middle and lower class artificially, than all you do is raise prices since now you have more money flowing but not more goods and services flowing. Money was given away without creating more goods and services, thus now that money is worth less. If all it took was money to drive our economy we might as well print more or just write checks for thousands of dollars to the middle and lower class. But that isn't the case.
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