To The Moon, Alice!!!
The web site above is auburnpub.com; not "auburn.com" as in the header mistakenly.
Forced wage increase = inflation = forced wage increase = inflation = forced wage increase = inflation.. Rinse and repeat.
Oh crap, between Joe Stealin’s borrowing and the recursive effect of the law itself, it’ll be $100/hr by Christmas!
Following California’s lead, NY is dead set on committing economic suicide.
To The Moon, Alice!!!
...and thus causing more government created inflation.
The “Robot Full Employment” Act.
These elected officials need to be taken to the shed
Ever heard of positive feedback? Better known as the snowball effect? Inflation causes wages to rise which causes inflation, which causes wages to rise which causes inflation, which causes wages to rise,... ad infinitum.
Price controls do nothing to increase productivity, which is the correct answer if we want to improve people’s standards of living we need to improve productivity. People who operate computers and backhoes get more done than people who operate pencils and shovels.
This is a good thing. Takes this divisive issue off the table.
and so then we get wage push inflation, as in the 70s.
How NYS, per NYS, does it now...
*Annual increases for the rest of the state will continue until the rate reaches $15 minimum wage (and $10 tipped wage). Starting 2021, the annual increases will be published by the Commissioner of Labor on or before October 1. They will be based on percentage increases determined by the Director of the Division of Budget, based on economic indices, including the Consumer Price Index.
This will hasten the dollars demise. Once minimum wage goes up it never goes down. This is all to placate the unions for the next election since their rates are linked to minimum wage.
This is the government taking over one more aspect of the supposedly “free” market economy that we think we have. The ultimate goal is total control, with all the means of production in the hands of the government.
LMAO
Should read... Bill will ensure high inflation is permanent by tying minimum wage to inflation.
raising wages causes inflation to rise, which will cause inflation to rise further causing another raise, continue, repeat.
And of course it will similarly be indexed to deflation and disinflation, right? /sarc
Someone needs to explain to them about feedback loops.
RATS aren’t smart enough to understand the business model of a lemonade stand...
Want more inflation? Because that’s how you get more inflation.