Quote:
Originally Posted by slapass
Raising the minimum wage just creates inflation. It won't cost or create jobs. He wants to do it so that all the people under water on their houses, govt debt and banking debt all goes away easier. The bad news is anyone with money then gets hammered like all of those folks who rode the bond rally for the last ten years. Obama and company are doing whatever they can to create inflation.
PS People are screaming out of bonds as we speak. I wonder why?
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very true... and inflation is nothing more than a hidden tax, with 3% inflation for example, whether you have $100 in the bank or $100 Million, you get "taxed" 3% of your wealth every year...
(though I disagree about it not having effects on unemployment, it will likely have negative consequences, increased unemployment, etc like Milton pointed out few posts earlier in that youtube video)