Tuesday, October 28, 2008

Look for price increases in the future.

Obama and the Democrats plan to raise the minimum wage to $9.50 an hour by 2011 and indexed for inflation after that.
Posted by Common Sense Joe at 2:55 PM
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5 comments:

Anonymous said...

That will be great for the economy in general but tough on profits for investors, unless Obama allows further tax deductions on wages which he's going to have to do if he's going to keep his promise on no more taxes for small business owners making less than 250K, yet of any politician I've seen yet, Obama seem's the most sincere on keeping promises. Anyway Obama is a capitalist at heart I'm sure he'll do what's best for the economy evidenced by the overwhelming support he has from our nations top investors and economists, Buffet, Google, Soros, Stiglitz, Krugman, Greenspan, Bernanke, the head of Bank of America...etc

October 29, 2008 at 5:17 AM
Anonymous said...

When you think about it the best thing for small business is to tax big corporations like Walmart, huge retail, big food processors, big agriculture etc...by taxing them more you give small business the chance to compete, so many small mom and pop stores were run out of town by huge discounters like Walmart, in fact by breaking up huge monopolies you allow more high quality innovative small business to thrive which creates more and higher paying jobs long term strengthening the economy...fascism is allowing big corporations to make more profit, capitalism is allowing many small businesses to compete with big monopolies...so a higher minimum wage will kill companies like Walmart and big agro allowing small retail and small farms breathing room to compete producing higher quality products for all.

October 29, 2008 at 7:22 AM
Common Sense Joe said...

Wal-Mart has done more for the poor and middle class than any government program. It has done so well because it delivers lower prices not only in it's stores but also caused competition and suppliers to lower their prices. If forced competitors to become more efficient.

Wal-Mart has done more for the poor and middle class than any government program. It has done so well because it delivers lower prices not only in it's stores but also caused competition and suppliers to lower their prices. If forced competitors to become more efficient.

One does not want small businesses just to give the owners comfortable wages. But you don't want the government to hurt them, because they generate most of the new jobs.

October 29, 2008 at 12:06 PM
Anonymous said...

Joe, I don't think that Wal-Mart buying and stocking CHINESE products does the AMERICAN poor and middle class any good, unless you think sending money and jobs outside the country is good for our long-term economic health.

China has long proven it makes the shoddiest and most dangerous products and foods in the world. Supporting bad quality is bad for everyone. When there are no more jobs here at home, no one will have the money to shop *even* at Wal-Mart.

October 30, 2008 at 6:53 AM
Common Sense Joe said...

Almost every company bought toys from China, not just Wal-Mart. That China has evil manufactures just makes it like every other country. Raising the standard of living for everyone, is good for the U.S. That everyone can afford a DVD player ($30 at Best Buy), television, computer, digital camera is a good thing. That they take are money at buy U.S. government bonds or food and beef from our farmers and ranchers is a good thing. Or they buy stuff from other countries which eventually buys stuff from the U.S. is a good thing.

As for no one having a job in the U.S., I assume you mean manufacturing jobs. For those with service jobs, that can not be exported, will always be able to buy at Wal-Mart. Many jobs disappear, others are created. Instead of making toys, they can build bridges and roads. Instead of making clothes in sweat shops, they can build nuclear power plants, wind mills, utility lines. Instead of making GM cars in Detroit, they can make Hondas and BMWs in the south.

October 30, 2008 at 12:37 PM

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