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

[PLC1]

I guess you have social houseing? We have large stocks of social houseing here in the UK where the local authorities build flats/houses for low income families and immigrants which are rented out for "nominal" amounts - funded by the tax payers of course. They are not the best build quality but are at least affordable. The UK has a housing shortage (due to all the immigrants that are not coming here!!) so a lot of estates are being planned/built - the idea being that these new estates must have a mix of private and social housing.

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.

 

[Openmind]

I guess you have social houseing? We have large stocks of social houseing here in the UK where the local authorities build flats/houses for low income families and immigrants which are rented out for "nominal" amounts - funded by the tax payers of course. They are not the best build quality but are at least affordable. The UK has a housing shortage (due to all the immigrants that are not coming here!!) so a lot of estates are being planned/built - the idea being that these new estates must have a mix of private and social housing.

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!

 

[The Scotsman]

NIMBY ism keeps them from being located in the expensive neighborhoods.

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.

 

[The Scotsman]

We have section 8 housing,

Is that Belgium?

 

[Openmind]

Is that Belgium?

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

 

[dogtowner]

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.

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

 

[Aus22]

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.

 

[dogtowner]

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.

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

 

[Aus22]

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

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

 

[dogtowner]

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

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

 

[The Scotsman]

No, it doesnt.

....agreed.

Keynes has proven to be wrong every time tried.

....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.

 

[Openmind]

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.

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!

 

[The Scotsman]

This is due to the velocity of money.

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

 

[dogtowner]

....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.

The wastebin of failed theories ?

 

[dogtowner]

It is a fact that an increase in purchasing power at the lower end of the social spectrum creates more spending

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.