The way to beat inflation?

[Wainuiguy]

How about increasing minimum wage to the same level as inflation creating...................more inflation.

https://www.nzherald.co.nz/business/gove...QJNJMM7HQ/

Adding  more costs for businesses,  who increaee the costs of their products creating more inflation.
Forcing other peoples wages up in line with this increase creating more inflation.

Interesting that many union negotiated wage increases in the same period were for sometimes less than half of this increase - my staff for example received a 4% increase - only 2/3s the actual value of "official" inflation.

[Magoo]

dammit, i thought you had come up with a way to beat inflation.

[Wainuiguy]

dammit, i thought you had come up with a way to beat inflation.

Well I know a few ways to create it - and this government has pretty much pulled every lever to do so.

[Magoo]

creating it is the easy part. even a government can do that.

[Wainuiguy]

creating it is the easy part. even a government can do that.

One of the few things this government has created and excelled at.

[king1]

you do realise it's a worldwide problem?

[Wainuiguy]

you do realise it's a worldwide problem?

That may be but local inflation is still running at breakneck pace and this increase in min wage certainly won't help.

[Oh_hunnihunni]

We could always do the opposite, decrease everyone else's income...

[Magoo]

We could always do the opposite, decrease everyone else's income...

yes hunny, or we could increase taxes, that will stifle it.
specially if we hit the lower income folk hard

[Oh_hunnihunni]

Well, it is logical. If the increase to the wages of the lowest paid boosts inflation, then doesn't it follow if we reduce the highest paid it will have the opposite effect?

Just pointing out the obvious flaw in yet another kick the poor argument...

[Magoo]

but but but
trickle down...

[Wainuiguy]

Well, it is logical. If the increase to the wages of the lowest paid boosts inflation, then doesn't it follow if we reduce the highest paid it will have the opposite effect?

Just pointing out the obvious flaw in yet another kick the poor argument...

What an idiotic argument.  Boosting lower paid people isn't bad but it flows on up the line increasing wages for all then costs for all eroding the increase in the first place

[Zurdo]

Give money to the poor, and they spend it...they may not spend it on you want them to, but they will spend it, and the money goes around. Give money to the rich, and it just gets put with the rest of the money.

[Wainuiguy]

If you took all the money in the world and divided it equally amongst everyone within a few years those who had most of it at the start would have it again.

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We could always do the opposite, decrease everyone else's income...

Bit like the argument Lilith said about Nordic countries - they pay hight tax and are happy.  Just make everyone pay 60% tax and we will he the happiest country in the world.

[Zurdo]

But on it's way back to the rich minority, that money with have been spent countless times, enriching peoples lives...for awhile. Rinse and repeat.

[Oh_hunnihunni]

If you took all the money in the world and divided it equally amongst everyone within a few years those who had most of it at the start would have it again.

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We could always do the opposite, decrease everyone else's income...

Bit like the argument Lilith said about Nordic countries - they pay hight tax and are happy.  Just make everyone pay 60% tax and we will he the happiest country in the world.

Research indicates it isn't wealth that makes a nation happy.

It is education.

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Well, it is logical. If the increase to the wages of the lowest paid boosts inflation, then doesn't it follow if we reduce the highest paid it will have the opposite effect?

Just pointing out the obvious flaw in yet another kick the poor argument...

What an idiotic argument.  Boosting lower paid people isn't bad but it flows on up the line increasing wages for all then costs for all eroding the increase in the first place

Maybe the flowing up the line ought to stop. After all, the minimum wage is a minimum, for the lowest paid. There is no assumption the better paid others then need to restore the gap that made them the lowest paid - that attitude needs to just go away.

It is yet more evidence that a UBI is a sensible option.

[Wainuiguy]

If you took all the money in the world and divided it equally amongst everyone within a few years those who had most of it at the start would have it again.

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Bit like the argument Lilith said about Nordic countries - they pay hight tax and are happy.  Just make everyone pay 60% tax and we will he the happiest country in the world.

Research indicates it isn't wealth that makes a nation happy.

It is education.

---

What an idiotic argument.  Boosting lower paid people isn't bad but it flows on up the line increasing wages for all then costs for all eroding the increase in the first place

Maybe the flowing up the line ought to stop. After all, the minimum wage is a minimum, for the lowest paid. There is no assumption the better paid others then need to restore the gap that made them the lowest paid - that attitude needs to just go away.

It is yet more evidence that a UBI is a sensible option.

UBI is a pipe dream for the terminally stupid or naive.

[king1]

was watching a doco recently (This Giant Beast That Is The Global Economy), in one episode about AI it was suggested that eventually some form of UBI will be required once AI and robots have replaced all the jobs, which they were thinking was a very real possibility...

[harm_less]

was watching a doco recently (This Giant Beast That Is The Global Economy), in one episode about AI it was suggested that eventually some form of UBI will be required once AI and robots have replaced all the jobs, which they were thinking was a very real possibility...

The closing activity in the Netflix doco 'American Factory' very much was towards robotics replacing manual workers with no real other job prospects, so a similar income replacement was implied.

[Lilith7]

In the future a UBI may be the way to go - more & more is being done by technology & that's unlikely to stop.
Perhaps in the future all humans will be paid a UBI, no one will work apart from a few specialised areas - & humans will be able to take advantage of free education & develop their creativity to lengths we can't even imagine now.

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If you took all the money in the world and divided it equally amongst everyone within a few years those who had most of it at the start would have it again.

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We could always do the opposite, decrease everyone else's income...

Bit like the argument Lilith said about Nordic countries - they pay hight tax and are happy.  Just make everyone pay 60% tax and we will he the happiest country in the world.

  I think you know the reason they're happiest isn't because they pay high taxes, but because they're able to access education & health of all kinds, because its paid for with their taxes.