Message from @VulpesVulpes
Discord ID: 794837826424274995
Raising Debt is bad. We should try and stay out of debt because then our economic value is higher.
At least thats the way I see it
Most economists don't say that. They say we can raise our debt, as long as it stays below our total economy. Right now that's not true
Right now our debt is greater than our economy
which is bad, and the economists say it's bad
Agreed, it’s a problem
Idk my teacher told me that last year so imma assume most economist actually think that because it seems like they actually think that
Economists don't make economic policy unfortunately
And your teacher being a nitwit doesn't make economists idiots
IMO a raising debt means we have to pay more taxes in an attempt to keep up with the debt and more taxes is never good
Eventually it will get to a point where we will have to borrow to keep paying the interest on our debt
which will be funny
anyway
Now that the economic debate is settled
I think we are at that point tbh
I'm going to head off to bed
Goodnight
Not yet. I'm actually watching the situation
It would help millions of people and long term it would create jobs with innovation. The problem I see is businesses having increased labor costs which will force them to cut hours, fire people, and raise prices
Short term matters as well in this scenario
Minimum wage was made to be a starting point. The longer you work the more you’ll end up earning so minimum wage is a starting point
This is only true in a situation where you raise the minimum wage by a large ammount in a short time. A hike up from 10 to fifteen for instance. A twelve cent increase in the hourly wage would lead to about a $250 raise in a single employee's annual salary
Interesting
Which is basically nothing
@VulpesVulpes
I’m definitely for your plan of tied minimum wage and inflation, but not now. Businesses are struggling due to Covid and it would worsen unemployment and close more small businesses. Give it another couple years and I’d be onboard
Oh certainly, this isn't the time to be applying any more restrictions onto small businesses
It’s true if businesses are already on their last legs due to, idk, a global pandemic
I think the best course of action is to lower the minimum wage so more people gets employed
Alright, in that case, I think we might agree more than we disagree
Even in a 'on your last legs situation' a couple hundred dollar increase in an annual salary is basically a rounding error
Bad plan
I mean, good intentions
Not by much
but bad plan
No, terrible. Too many people live off of that
Once you've raised a minimum wage, you shouldn't lower it.
It's sort of the problem with minimum wages
If I got a pay cut rn I'd be kinda hosed
True but minimum wages was made to be a starting point
Senor ... honestly I think you should leave economics to ... other people.
An extra $200 ish dollars per employee when businesses are already thousands in debt isn’t good.
😂