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Sherman A1

(38,958 posts) Thu Jun 7, 2012, 08:33 AM Jun 2012

Bill Pushes for Increase in Wages

WASHINGTON — Representative Jesse L. Jackson Jr. tried to give new vitality to the issue of the federal minimum wage on Wednesday, coming at the debate with a fresh angle: that raising it might encourage Americans to spend more and, thus, help stimulate the nation’s struggling economy.

At a Capitol Hill news conference, he said the economy would be bolstered by increasing “the purchasing power of millions of low-income and low-wage workers, and one proven and effective way of doing that is to raise the federal minimum wage.” He has introduced a bill that would immediately increase the minimum wage by $2.75, to $10 an hour from $7.25.

The argument in favor of raising the minimum wage as a form of economic stimulus goes to the heart of the debate in government and business spheres about whether more spending needs to be part of the prescription for strengthening the economy.

http://www.nytimes.com/2012/06/07/business/bill-pushes-for-increase-in-wages.html?nl=todaysheadlines&emc=edit_th_20120607

Putting money into the hands of those who would most likely spend it as a means to stimulate the economy. How novel?

7 replies

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Highlight:

Bill Pushes for Increase in Wages (Original Post) Sherman A1 Jun 2012 OP

"How novel..." 4_TN_TITANS Jun 2012 #1

I wish this would pass. Cobalt Violet Jun 2012 #2

Trickle up economics Blaspherian Jun 2012 #3

Wow, a proposal that would actually help the lower end of the economic spectrum Egalitarian Thug Jun 2012 #4

I'm certainly no genius, but Ship of Fools Jun 2012 #5

Make it $15 per hour and that would be a start SHRED Jun 2012 #6

Precisely Sherman A1 Jun 2012 #7

4_TN_TITANS

(2,977 posts)

1. "How novel..."

Reply to Sherman A1 (Original post)

Thu Jun 7, 2012, 09:45 AM

Jun 2012

Kind of like creating government jobs (CCC, WPA) to beef up crucial infrastructure and give good paying jobs to those who need and will spend the money thus boosting the economy.

God... where have I heard this before? I guess shoveling money at Wall Street has a better track record.

I'd give my left nut and a kidney if FDR could walk among us today.

Cobalt Violet

(9,905 posts)

2. I wish this would pass.

Reply to Sherman A1 (Original post)

Thu Jun 7, 2012, 09:45 AM

Jun 2012

I know I sure would sure spend the extra money.

I could use a vacuum cleaner. A new painting easel. Lots of paints and brushes. I could use some sort of chair to sit and relax in after work. I would love some better quality shoes as I work on my feet and have foot issues that cause pain. I need new tires on my car since I have one I need to put air in every week. I love to take a trip to visit a friend who live across the country. A bike rack for my bike. A hamper to put my dirty laundry in. A beach umbrella. New blankets for my bed.

I would be a job creator!

Edited : Almost forgot, I would be able to donate to DU too.

Blaspherian

(94 posts)

3. Trickle up economics

Reply to Sherman A1 (Original post)

Thu Jun 7, 2012, 09:49 AM

Jun 2012

The repubs will never go for it.

Egalitarian Thug

(12,448 posts)

4. Wow, a proposal that would actually help the lower end of the economic spectrum

Reply to Sherman A1 (Original post)

Thu Jun 7, 2012, 10:08 AM

Jun 2012

and in doing so, stimulate the Main Street economy. I'm stunned.

Of course this isn't going anywhere, can't have anything like this happening. People might get the idea that government can be beneficial, and that would shake the foundations of both parties.