Quote:
Originally Posted by tony286
Read what I wrote again "I think he went overboard". The fact is Wages have raised the smallest percentage in 33 yrs was reported last week. In a consumer based economy if no one has money to spend. The economy goes down the toilet.
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Where do waged come from? The sky? Unicorn tears? They come from the sale of goods and services. Higher wages, means higher production costs of goods and services. Pay people more but make everything more expensive isn't a great policy for what should be obvious reasons. Discretionary income doesn't increase when the cost of everything increases with it.