Income Inequality?

[Cow Poke]

As the price of food in general goes up, healthy choices can remain affordable if funds are redistributed in a household's budget.

WOW.... you don't know any poor people, do you?

[Cow Poke]

Oh. I don't see how that's any different from other business regulations.

Of course not -- you're a redistributionalist!

Why does Homer want to be paid less than Mary?

You keep avoiding the question. It's not that Homer "wants to be paid less than Mary" - that's just dumb. He made a contract with an employer, and he honored it.

Homer and Mary should both find a job and Homer should be happy that he's being payed more than he expected.

And the sky turns blue, the birds sing, and the rainbow spreads from sea to shining sea.

You REALLY don't have a clue about economics on a personal level, do you?

[Sam]

Sam this is complete nonsense. There are other, greater drivers of inflation, or conditions that lessen inflation - the minimum wage is just a small part of the picture. So again Sam, it is a straight forward question, if you give the hamburger flipper a three dollar an hour raise will my cost for my burger go up - yes or no.

So if the minimum wage does not, in fact, necessarily lead to a higher inflation and is a "small part of the picture," why make that your argument? Whatever you think raising the minimum wage should do to the inflation rate, it's clear from history that it doesn't necessarily lead to increased inflation. Your question is therefore answered: we've given the hamburger flipper a raise at various times in history (seen, again, on the chart) and that has not caused a increase in the price of hamburgers.

The answer is therefore "probably not and almost certainly not in this case, at least in the mid-to-long term."

[Zymologist]

first, "groceries" is not one thing. It is a conglomeration of products. So you can't just lump them into one thing. Each product is produced and sold by different companies.
Second, labor isn't an negligable cost. It is one of the major costs in producing anything. This goes back to my comment that you don't really understand economics at all.

A couple examples that come to mind, from one who's ignorant of the subject:

1. Textbooks
2. CD's. CD's cost next to nothing to print (like pennies, I'm pretty sure), but are typically sold for $10 or more.

[rogue06]

WOW.... you don't know any poor people, do you?

It's like he thinks that if they take fewer trips to Hawaii that they could to eat better.

[Jedidiah]

Some ideas I've heard that seem reasonable are tying minimum wage to inflation, raise the top marginal tax rate, rewrite the tax code to reduce cheating, limit campaign spending, education reform in several areas, and end corporate subsidies.

I favor the Fair Tax.

[Jedidiah]

say what???? You mean businesses don't exist just to provide a living to liberals? They actually want to make a (excuse my french) profit???

That may have been in jest, but I have actually heard people who think that making a profit is wrong. Beyond comprehension to me.

[Cow Poke]

A couple examples that come to mind, from one who's ignorant of the subject:

1. Textbooks
2. CD's. CD's cost next to nothing to print (like pennies, I'm pretty sure), but are typically sold for $10 or more.

Because it's not just the materials that are being sold -- it's intellectual property, royalties, etc.... They're not just selling cardboard, plastic and paper.

[Zymologist]

Because it's not just the materials that are being sold -- it's intellectual property, royalties, etc.... They're not just selling cardboard, plastic and paper.

Maybe not all that relevant to what PM and Sparko were talking about, though, which seemed to be along the lines of groceries. Oh, well.

[rogue06]

I favor the Fair Tax.

Same here. I know one of the authors of the book on it and met the other. While not perfect, nearly all the objections raised are based upon substantially changing it and then complaining about the results. In any case it is far better than the current system.

[Cow Poke]

Maybe not all that relevant to what PM and Sparko were talking about, though, which seemed to be along the lines of groceries. Oh, well.

And, in the case of CDs or DVDs, you KNOW they're overpriced when you see them in bundles in the bins at Walmart for $3.99.

[Cow Poke]

I favor the Fair Tax.

I dislike it less.

[Cow Poke]

Same here. I know one of the authors of the book on it and met the other. While not perfect, nearly all the objections raised are based upon substantially changing it and then complaining about the results. In any case it is far better than the current system.

So, if I don't want to pay taxes on a multimillion dollar yacht, I simply need not to buy one?

(oh, wait.. that's a consumption tax! )

[rogue06]

So, if I don't want to pay taxes on a multimillion dollar yacht, I simply need not to buy one?

(oh, wait.. that's a consumption tax! )

That reminds me of how back during the Clinton Administration the companies who manufactured yachts were subject to a new much higher tax rate. The result? The companies closed their doors and moved overseas. Not only did the government not get an increase in revenue they lost what they were getting and had a lot of unemployed people also not paying taxes.

Unintended consequences? Anyone with even a modicum of understanding about economics could have seen the results coming from a mile away.

[Cow Poke]

That reminds me of how back during the Clinton Administration the companies who manufactured yachts were subject to a new much higher tax rate. The result? The companies closed their doors and moved overseas. Not only did the government not get an increase in revenue they lost what they were getting and had a lot of unemployed people also not paying taxes.

Unintended consequences? Anyone with even a modicum of understanding about economics could have seen the results coming from a mile away.

EGGzackly the case I had in mind.