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Discussion Starter · #1 ·
Funny how back in July 2007, we were being told how minimum wage increases costs jobs, but every month since the last increase has seen an increase in the number of employed Americans. How will the Rushovics explain that?

Surely, increasing the minimum wage doesn't stimulate job growth. :D

Remember before Klinton was elected, when Limbaugh was predicting a crashing economy if Klinton got elected and started raising taxes? DIDN'T HAPPEN!! In fact, the opposite happened. Then they were left struggling to find a suitable excuse.

I think a global economy is a little harder to explain, and predict, than some "experts" would have us believe.

http://www.reuters.com/article/marketsN ... 005?rpc=44


US STOCKS-Wall St surges on job growth; S&P hits record
Fri Oct 5, 2007 3:20pm EDT

NEW YORK, Oct 5 (Reuters) - U.S. stocks rallied on Friday, putting the Dow and the S&P 500 indexes on course for a record finish, as a solid employment report rekindled optimism about the outlook for economic growth and corporate profits.

The prospect of continued strength in the economy boosted a broad range of sectors, including technology, basic materials, health-care, industrial, financial and consumer-oriented plays.

Shares of economic bellwethers, led by Caterpillar Inc (CAT.N: Quote, Profile, Research), were the Dow's biggest advancers, along with the stocks of financial services companies such as credit card issuer American Express Co (AXP.N: Quote, Profile, Research) and Citigroup Inc (C.N: Quote, Profile, Research), the biggest U.S. bank.

The Labor Department report showed the U.S. economy added more jobs in September than economists had expected. In addition, August and July jobs figures were revised higher, a change analysts said was even more significant. For details, see [ID:nN04459316].

The S&P financial index (.GSPF: Quote, Profile, Research) was headed for its best weekly climb since March 2003 as investors bet the worst effects of the credit market turmoil is behind Wall Street.

Transport was another stellar performer, with the Dow Jones transport average (.DJT: Quote, Profile, Research) notching its biggest advance since Sept. 18, when the U.S. Federal Reserve cut interest rates.

"From the jobs numbers that we got today, we saw that most of the economy is actually doing a lot better than people thought it was doing," said Cleveland Rueckert, market analyst at Birinyi Associates Inc, in Stamford, Connecticut. "Right now, the economy seems pretty healthy."
 
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Discussion Starter · #2 ·
Yes BUT,What are the majority % of jobs worth $$ going to work for?To work is definitely admirable,working and falling deeper into poverty is not a job but legal slavery.

George H W Buch,Your One World Order philosophy :eek: is a definite boost to the American way of life.
 

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Harley Dude
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14,651 Posts
One thing to keep in mind is the following: Anything that you do to the economy takes a long time to have any serious effect.

Hit people with a big tax increase! It may take some time to bring the economy to a halt! Raise interest rates off the charts, guess what! You will bring the economy to a halt, but over many months and sometimes even years.

Mr. Clinton benefited big time from the huge adjustments that Ronald Reagan made to the tax rates. That act alone pumped tons of cash into the economy since people now had the money and not the government. This lead to long term investing in small business and purchases of goods by people with a larger % of their spendable income to dispose of in a free market.

Mr. Clinton said it was his polices that helped the economy. No it was not, the government benefited greatly from the increases in tax revenue that the booming Reagan economy brought to his administration.

He then cut the military spending in half, jacked up the taxes and that had the effect of increasing the flow of money to the Government. This is how the national debt was reduced under Clinton.

But guess what, his economic polices of increased taxes and reduced spending came back to bite us in the butt, same as under Mr. Carter. Long term the economy suffered and the military was devastated and became less effective. Then the next president was required to repair the damage and ramp up Military spending to be able to keep up with the advancement in other countries and protect us from the dangerous regimes growing around the world.

The change in the min wage is one of those things that hurts small business the most. They only have so much labor dollars to pay out each month, if they are forced to pay non-market rates to employees they will have to find a way to make it work. They will cut full time people down to part time status to eliminate their benefit eligibility or simply cut the benefits that they offer period. They will seek out low wage people to help them out, maybe have two $8 hour employees instead of paying a more qualified employee $20 per hour plus benefits.

It is hard for you to see the effect of a constant rise in min wage rates but I can assure you that its one more thing that is putting American workers out of work and sending mfg over to China where they will work for 60 cents an hour with no benefits. We could raise the Min Wage to $100 per hour, that would make all the young folks happy, but then they would all be sitting at home on the dole because there would be no jobs remaining. But they could all brag that they made $100 per hour at one time.

So each raise does in fact have an effect. But its a small effect and it takes a long time to see the damage it may cause. Like water eroding a river bank!
 
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Discussion Starter · #4 ·
sig232,Do Government jobs contribute to the GNP of our Society,seeing the paychecks are drawn off our tax money?I DON'T KNOW! :roll:
 

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Harley Dude
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14,651 Posts
JoeLee said:
sig232,Do Government jobs contribute to the GNP of our Society,seeing the paychecks are drawn off our tax money?I DON'T KNOW! :roll:
Money that goes to the government in the form of tax dollars does nothing to expand the economy. Government is a sink hole for money. Government wages do nothing to grow the economy.

Money in the hands of people to be spent is what grows an economy. Dollars are spent on goods and services and small business. Small business creates more jobs and buys components to be added to products produced, etc.

The less you tax a people the more money is tossed into the pot for growth. Low tax rates will result in a booming economy which sends a corresponding large amount of revenue to government, even at low tax rates.

High tax rates slows the economic growth but is used as a way to control the population and redistribute monies from folks who work to folks who refuse to work. High tax rates promote socialism, which tries to spread all the economic advantage equally from those who choose to work effectively to those who either can' t work or refuse to work. Society as a whole has a responsibility to help those who can't work but they have no similar responsibility to pay for the folks who won't work. This is our big dilemma today, America is in the middle of an economic war within its borders.
 
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Discussion Starter · #6 ·
Thanks sig232,That's what I thought,I also think we have an over abundance of Government jobs that do nothing,still going strong,that LBJ started.
 
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