This Billionaire Governor Taxed the Rich and Increased the Minimum Wage —

[GMDino]

(07-01-2016, 02:03 PM)Mike M (the other one) Wrote: Not so sure about increased wages, but Far Taxation should definitely give a significant boost to a city/state/fed coffers.

Well technically, I guess increased wages would as well, since the workers will be paying more in taxes as well. Before wages are increased, I'd like to really know why they are being increased.

I read about a study once that said if you give someone who has always been "poor" $1000.00 and someone who has always been "rich" $1000.00 the poor person will spend it and the rich person will spend some, save, some, invest some.

I don't remember the exact ranges they used, but the point was that if you are used to living paycheck to paycheck when you have more you spend it anyway.

Raising the incomes of the "poorest" puts more money back into the economy than any other option in my opinion.  And that will increase demand and then that leads to more jobs and more money going back into the economy.

Call it "trickle up".  Even if there really is no such thing.