How are we going into a recession if the people have money?

never said it would, I said raising the min wage would allow it

as when the min wage goes up, all wages go up and if you have a mortgage, it means now it's easier to pay

 

And I stated that raising the minimum wage (to realistically practical levels) would still come nowhere near allowing it.

I think anyone on the Left who thinks minimum wage is a solution to the home ownership issue is just being stupid.

Use some basic math please.

I think it is a little more complicated than that.

(Want to talk about that? Start a separate new thread. But if course you won't. You never do)

 

it would, for those higher on the food chain, and it makes it easier with time if the min wage keeps increasing like it has in the past to keep up with inflation

I remember when I was about 30, grandparents were paying a mortgage of about $140 a month, inflation made that seem small, in the long run and easier to pay as wages also increased to keep up

 

Those "higher on the food chain" won't really be affected by an increase in minimum wage.

Only the poorest might stand to benefit, but they will still not be buying a house anytime soon, increase in minimum wage or not.

 

sure they would, raising the min wages trickles up

raising the ceo and exec wages doesn't trickle down

 

I disagree. I will argue about that with you in a separate thread, if you want. (You probably don't want)

Your claim there is not so "obvious".

 

it has for years, the problem is for over a decade we have not raised the federal min wage

there will always be some greedy business that pay people the least they can get away with

 

Well, we wouldn't have to if there was not inflation.

Why do you support inflation?

 

we need inflation and rising wages, it's a fine balance

the debt is so large right now, without it, this country will never get out of debt

this is what years of tax cuts for the rich and no min wage increases does to the economy

 

If there was no inflation, you wouldn't need rising wages, would you?

 

Maybe you should have thought about that before the country got into massive amounts of debt?

Like I repeatedly explained in other threads, who would want to continue to lend money to the US if they just pay it off through inflation? This will send interest rates skyrocketing.

 

there is inflation though, even now, so we need to raise wages

min wage used to rise more frequently

https://www.dol.gov/agencies/whd/minimum-wage/history/chart

 

No. We need to stop inflation that hurts poor people.

Raising wages will contribute to more inflation, so you will have to raise wages even more than the amount of initial inflation you are trying to compensate for.

 

the poor are fine as long as the min wage keeps up, they are not harmed unless the min wage does not keep up

the middle class that own homes with mortgages benefit from inflation and rising wages

 

But we wouldn't need to worry about that if there was no inflation.

 

k, how do you force that on corporations, let's start with the oil industry - explain how you would do that

we can easily raise the min wage, forcing corps to lower inflation is harder

we can stop price gouging, but not inflation

 

Hate to tell you but corporations are not the one who controls inflation.

 

they play a big part of it, they raise prices for a shortage caused by covid suply issues, do they lower them back down when the supply issue is resolved

will oil companies increase supply to lower prices?

 

Biden and the Democrats play a bigger part.

 

30 trillion in debt, with a debt to GDP ratio of 125%, and we are still giving away money to anyone and everyone like it's candy....

 

Trump raised the debt more than any other President in history did in 4 years and you blame Dems?

 

Some people are too stupid to see how that doesn't make sense.

 

And now Biden has already raised it more than Trump, even though his term isn't even over yet.

 

yep

Trump was on the verge of a recession in 2019... BEFORE COVID

the fed doesn't do this during a great economy... that the economy was great pre-covid is one of the biggest lies the Republicans ever told.

"Fed Ups Its Wall Street Bailout to $690 Billion a Week as Media Snoozes" Oct 2019

https://wallstreetonparade.com/2019...ilout-to-690-billion-a-week-as-media-snoozes/

and

"The Federal Reserve Has Already Pumped $9-Trillion into Wall Street in the Past Six Months, and Now Is Offering Banks Another $1.5-Trillion" March 2020

https://needtoknow.news/2020/03/the...d-now-is-offering-banks-another-1-5-trillion/

 

That would be Obama, not Trump. And it's well-documented....