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ProSense

(116,464 posts)

6. Yes, but

Wed May 7, 2014, 11:33 AM

May 2014

"There's still a surplus of labor. The employment to population ratio has dropped 15% since 2000. That's a huge pool of potential workers and unless that pool is absorbed into the workforce there's little upward pressure on wages once you get to $12 or $13/hour."

...no one is arguing that the minimum wage should be increased in lieu of full employment. The point is that if the majority of workers returned to the workforce with the current minimum wage, the problems would persist. Raising the wage and indexing it to inflation will make a huge difference as the workforce returns to reasonable levels.

Participation Rate: Trends and Cohorts
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Krugman: Three Charts on Secular Stagnation [View all] ProSense May 2014 OP

Wealth inequality is the core problem. lumberjack_jeff May 2014 #1

Yes, and ProSense May 2014 #2

I think raising the minimum wage constitutes treatment of the symptoms. lumberjack_jeff May 2014 #3

I disagree for ProSense May 2014 #4

There's still a surplus of labor. lumberjack_jeff May 2014 #5

Yes, but ProSense May 2014 #6

Still, I'm curious ProSense May 2014 #7

1) raise the tax rate on investment income to the same level as that on labor lumberjack_jeff May 2014 #9

Interesting ProSense May 2014 #10

Tax the Rich. Create Jobs Beearewhyain May 2014 #8

And raise the minimum wage. Elizabeth Warren: ProSense May 2014 #11

Participation Rate: Trends and Cohorts ProSense May 2014 #12