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Wed Nov 21, 2012, 09:57 AM

Higher Pay is a Gift to the Economy

With the holiday shopping season fast approaching, Demos has released a new report showing how raising wages in the retail sector would benefit not just workers but the economy as a whole. The study looks at what would happen if the lowest-paid retail employees earned $25,000 a year (the current average is $21,000 for retail sales people and just $18,500 for cashiers).

More than 700,000 Americans would be lifted out of poverty; nearly the same number would rise from near poverty to above 150 percent of the poverty line. Because families living near the poverty line tend to spend almost every penny they have, the additional wages would likely go right back into the economy Demos estimates that the GDP would increase between $11.8 and $15.2 billion over the next year, leading employers to create an additional 100,000 jobs. The retail sector itself would earn an additional $4 to $5 billion from its own workers. Another way the wage increase might help pay for itself is through greater productivity and higher sales generated by happier workers.


http://billmoyers.com/2012/11/20/tis-the-season/

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Arrow 7 replies Author Time Post
Reply Higher Pay is a Gift to the Economy (Original post)
Sherman A1 Nov 2012 OP
liberal N proud Nov 2012 #1
1StrongBlackMan Nov 2012 #2
Sherman A1 Nov 2012 #3
1StrongBlackMan Nov 2012 #5
Honeycombe8 Nov 2012 #4
1StrongBlackMan Nov 2012 #6
trumad Nov 2012 #7

Response to Sherman A1 (Original post)

Wed Nov 21, 2012, 10:09 AM

1. It's a basic principle - the more I have the more I can spend

The more I spend the more others have and the more they spend and it all goes round.

This accumulation at the top, will not be sustainable.

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Response to liberal N proud (Reply #1)

Wed Nov 21, 2012, 10:33 AM

2. But ... But ...

they told me that giving the peo-ple with the most more will trickle down to those with the least. Are you telling me they lied to me?

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Response to 1StrongBlackMan (Reply #2)

Wed Nov 21, 2012, 12:53 PM

3. One suspects

That while they would never, ever lie, they may have been just a wee bit confused in how the whole economics thing really works.

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Response to Sherman A1 (Reply #3)

Wed Nov 21, 2012, 01:19 PM

5. Well ...

wasn't their recently divulged political philosophy, "We will not be ruled by fact-checkers"?

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Response to Sherman A1 (Original post)

Wed Nov 21, 2012, 01:04 PM

4. That may be. But that's not a reason to pay people more.

If it were, then people would have to have their wages cut if it did NOT help the economy. And whose authority would we go by to determine whether a cashier's pay does or does not help the economy?

People are paid mainly by the financial wealth of the industry they're in, and whethr the job requires certain skills (that is, not just anyone can do it).

Min. wage jobs are usu. those that don't require a special education or particular skills, so teens can do those jobs, or anyone. Maybe the min. wage should be raised across the board. But I don't see why one group in one industry should be singled out to get wage increases because "it would help the economy."

Hey, if you give me $1 billion dollars, I'll guarantee it'll help the economy!!!!

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Response to Honeycombe8 (Reply #4)

Wed Nov 21, 2012, 01:26 PM

6. If I'm not mistaken ...

The study wasn't advocating only raising the pay of one group in one industry; rather, it was examining the effect of raising the pay of one group in one industry. We can generalize to all (most) wage earners.

The only wage earners that would be unaffected are those whose current wages afford them ALL of their needs (e.g., food, shelter, clothing, etc.) and MOST of their wants.

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Response to Sherman A1 (Original post)

Thu Nov 22, 2012, 07:21 AM

7. K&R

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