SimpleDon
Veteran Member
No, I have repeatedly stated my argument and I never mentioned McDonald's or your favorite job, the fry cook. You have never addressed any of my arguments that you are wrong when you say that the government hasn't suppressed wages to boost the incomes of already rich. The best that I get from you are these little gems of complete absurdity.
There was a manager before your fry cook, I assume we are back to your obsession with fry cooks now, got promoted and someone took the vacated fry cooks job. While I am happy for the fry cook who was promoted and who got a raise, no it doesn't count as an increase in wages for this discussion unless the promoted fry cook/new manager makes more money than the manager he or she replaced. Likewise the person that is the new fry cook is only an increase in income if she or he makes a higher wage than the old fry cook.
Now that I have now addressed your latest deflection maybe you could start to defend your statement that the government isn't suppressing wages.
But the point of the changes is to get the economy moving. The economy is always in flux with people coming in, going out, moving around and moving. You are argument is that the new people coming in aren't making tons of money as they come in instead of gauging how everyone else is doing.
So you have nothing to add to the discussion but this babble?
What are you doing now? You are not defending your statement that the government isn't intentionally suppressing any wages. Correct?
You don't believe that Reagan lowering taxes on the rich and raising taxes on everyone else impacted the distribution of income because we can't compare between groups and the "economy is always in flux with people coming in, going out, moving around and moving." Correct?
That my argument is "that the new people coming in aren't making tons of money as they come in instead of gauging how everyone else is doing."
I don't speak babble so I not sure what, if anything, this means. But I thought that my argument was clear. Perhaps you could reread my posts to you stating my points and explain how you distilled my position into this:
You are (Your?) argument is that the new people (babies, immigrants, new graduates, those promoted to McDonald's managers?) coming in (to the world, to the country, the workforce, management?) aren't making tons of money as they come in instead of gauging how everyone else is doing.
Parenthetical remarks are mine.
Perhaps you are not aware of which remarks are mine. I am saying that conservative economic policies are all designed to increase the incomes of the very rich and as a consequence lower the wages of everyone else. I can't see how the most adept strawman creator here could turn this statement into your quote above.
The closest that I can come is this.
I am saying that the upper earners, the rich, are earning too much money and the rest of the earners, the lower 90%, are earning too little money because of the conservative economic policies that we have instituted over the last thirty five years starting with the Reagan tax cuts for the rich and the Reagan tax increase, the largest tax increase in history. The lower 90% of earners are hardly "the new people coming in," in your terms. And I am definitely "gauging how everyone else is doing," the 10%. The 90% haven't had a wage increase in the thirty five years and the 10% have doubled and more their wages in the same time.
Yes, individuals are promoted and their wages do go up. This is not what we are talking about here. Because the position that the individual was promoted into is paid the same that the previous holder of that job was paid. There was no net gain in real wages for the 90% in the thirty five years. The labor share of GDP has gone down and the capital share of GDP has gone up by the same percentage, ~5.5%. And the labor share includes the wages of the 10% which as we already know have more than doubled.
And yes, "the point of the changes is to get the economy moving." This is always the point of economics policy changes. But Reaganomics was suppose to improve the economy over the previous economy that we had by the wet dream of providing more money for investment. But this didn't happen. The economy was worse than the economy that preceded it with less investment and slower growth.
This is because while Reaganomics increased the amount of financial capital available for investment it did it by lowering demand, which comes primarily from wages. Without demand there is no investment. The economy had changed from an agrarian economy that was supply constrained in the 19th century into an industrial economy that is constrained by demand in the 20th century.
The agrarian economy that the classical economists studied, Adam Smith, Ricardo, Malthus, John Mill, etc. was supply or capital constrained* because the supply side was land to grow food on. But the modern industrial economy doesn't have any supply side constraints because supply is only money. And in the modern fiat money system the economy determines how much money is created. The only limit on making a good investment is whether there will demand for the products to be produced by the investment.
* Ironically the two economies that lead the industrial revolution did it in no small part by solving the supply side problem in the agrarian economy, limited land for planting crops. The US by expanding westward as the need for more food became a limitation on growth and the UK through colonization.