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Seattle's new minimum wage hasn't raised retail prices

Discussion in 'Business & Economics' started by PLC1, Jun 13, 2017.

  1. PLC1

    PLC1 Moderator Staff Member

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    There are some low income housing projects here and there, but none in the high rent districts. NIMBY ism keeps them from being located in the expensive neighborhoods.

    People on welfare can get subsidized rent, but I'm really not too familiar with how it works.
     
  2. Openmind

    Openmind Well-Known Member

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    We have section 8 housing, but the waiting list in most places is very long (usually over 2 years), so it wouldn't resolve the problem of seasonal workers!
     
  3. The Scotsman

    The Scotsman Well-Known Member

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    I can understand that! Some of the council estates in the UK are pretty crusty affairs and not the place you would choose to be.
    Saying that though the new rebuilds in South London - Bermondsea and places are really nice but they tend to go downhill pretty swiftly so I guess time will tell.
     
  4. The Scotsman

    The Scotsman Well-Known Member

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    Is that Belgium?
     
  5. Openmind

    Openmind Well-Known Member

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    No, that is the US, specifically I worked with people who needed section 8 housing in California.
     
  6. dogtowner

    dogtowner Moderator Staff Member

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    With no stake for the tenents these projects always go downhill. Always.
     
  7. Aus22

    Aus22 Well-Known Member

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    If the poor are well house , they may find jobs and increase spending on other things. This discretionary spending should increase and boost the economy. Not all public housing projects go downhill.
     
  8. dogtowner

    dogtowner Moderator Staff Member

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    You have a big heart and perhaps it's different there but never here. Never...
     
  9. Aus22

    Aus22 Well-Known Member

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    I am just quoting Keynes policy. Spending on the poor does increase productivity.
     
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  10. dogtowner

    dogtowner Moderator Staff Member

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    No, it doesnt. Keynes has proven to be wrong every time tried.
     
  11. The Scotsman

    The Scotsman Well-Known Member

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    ....agreed.
    ....its a theory not a fact so you cannot prove one way or the other.... its about outcomes based upon various ecomomic metrics. Implementation of the theory depends upon the degree of implementation and the fundementals within the ecomomy its implemented. It has its place like all other ecomonic systems.
     
  12. Openmind

    Openmind Well-Known Member

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    It is a fact that an increase in purchasing power at the lower end of the social spectrum creates more spending and thus more demand for products, and thus more jobs than tax breaks at the higher end of the social spectrum. This is due to the velocity of money.

    Tax Efficiency and Tax Equity - thisMatter.com
    thismatter.com › Economics

    Velocity of Money Definition & Example | Investing Answers
    www.investinganswers.com/financial-dictionary/economics/velocity-money-1422

    It is a proven economic principle. But obviously, those in power prefer to feed their "tax break to the wealthy creates more jobs!" although this has been disproved repeatedly, and, with all the Reagan tax breaks for the wealthy, we should have had an extremely low unemployment . . .which obviously did not happen!


    By the way, unemployment is ALREADY close to bottom (yes, 4 to 5% is believed to be the bottom of the "optimum" unemployment rate (or FULL EMPLOYMENT) because this take into account people who are changing jobs and leaves enough room for increased need for new enterprises to find employees).

    Natural Rate of Unemployment: Definition, Trends - The Balance
    https://www.thebalance.com › ... › U.S. Economy › Supply: Labor, Oil and Capital

    So. . .what is there to gain with Trump's HUGE gift to the already very wealthy? NOTHING. . .at least nothing for the American economy, for the average American, and for the world in general.

    Just a ever smaller "club" or super wealthy who have no respect for those who REALLY work!
     
    Last edited: Jun 29, 2017
  13. The Scotsman

    The Scotsman Well-Known Member

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    ......assuming a closed economy and marginal investment.
     
  14. dogtowner

    dogtowner Moderator Staff Member

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    The wastebin of failed theories ?
     
  15. dogtowner

    dogtowner Moderator Staff Member

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    But what aussie said was just putting them in nicer accomodations, not giving them money for nothing. He believes they will somehow increase their earning power without changing their skillsets merely their address.
     
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