Does Minimum Wage Create Jobs?

12/20/2013 | MosesKnows

[DannyTN]

I agree with you. Yes a 10% tariff might cause a 1% to 2% average price increase. But our wealth will go up. Almost every business will benefit when the American workforce increases by 30% (23% unemployed/77% employed). That’s a lot more profits flowing to business. And a lot more salaries flowing to Americans. And a lot less government assistance.

[Toddsterpatriot]

Okay 10% tariff on that would be 0.15% of GNP.

No. Over the full year, oil imports are about 1.8% of GDP. Domestic oil is probably about the same. So now we're up to about 0.36% of GDP. Just for oil.

It's not going to cause rampant inflation.

Or job growth.

[Toddsterpatriot]

Higher employment starts when Americans can make things more cheaply than making them in China and transporting them here. It may take more than 10% to turn things around.

How expensive do plastic flamingos have to become to raise employment?

Still, America gets wealthy when Americans work.

I agree.

America sinks into debt when we pay the Chinese to work

No, America sinks into debt when the government spends too much.

[DannyTN]

That 10% tariff would allow an offsetting $1500 per worker income tax cut. That could cause rampant job growth.

Also, the inflationary effects of a 10% tariff may be limited to 1 to 2% inflation, but we're talking about imports equal to 16% of GNP that we are trying to bring back to the U.S. "Leverage". A small tariff can make the difference in bringing big dollars back to the U.S.. There is plenty enough there to cause rampant job growth.

[Toddsterpatriot]

That 10% tariff would allow an offsetting $1500 per worker income tax cut. That could cause rampant job growth.

That 10% tariff would raise prices more than $1500 per worker.That could cause rampant job loss.

Not even taking into account job losses caused by retaliation against our exports.

but we're talking about imports equal to 16% of GNP that we are trying to bring back to the U.S.

You want to make everything we import, here? Even plastic flamingos?

[central_va]

That 10% tariff would raise prices more than $1500 per worker.That could cause rampant job loss in China

Fixed it. Tariffs so not cause job losses here, only in the country that exported.

[central_va]

You want to make everything we import, here? Even plastic flamingos?

Yes. We made everything ourselves up to 1980, even pink flamingoes.

[Toddsterpatriot]

Tariffs so not cause job losses here, only in the country that exported.

Really? Rising oil prices wouldn't cause job losses here?

What about rising steel prices?

[Toddsterpatriot]

We made everything ourselves up to 1980, even pink flamingoes.

In 1979, our goods imports were $212 billion, with a GDP of $2.632 trillion.