Category: The News From Around The World

A War on the Poor – NYTimes.com

If you're not reading Krugman you're not reading.

If you’re not reading Krugman you’re not reading.

Republicans are correct, government can be dangerous, especially when Republicans control the house. Cutting food stamps, cutting unemployment insurance, cutting Medicaid, cutting Welfare is not just cruel it’s unsound economic policy. The Multiplier Effect is Econ. 101. The more money in the system, the more it gets passed around. The more that money gets passed around the richer people get. Austerity is based on a lie. Seriously. The academic paper Republicans always cite for Austerity ended up using faulty Excel spreadsheets. (True) And so now we have a war on the poor. And just like Iraq it’s another war Republicans wage based on a lie. Why do we continue to trust the least educated to run our country? Read Krugman. He has a Nobel in economics.

 

 

 

 

 

 

A War on the Poor – NYTimes.com.

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Fast-Food Wages Come With a $7 Billion Side of Public Assistance – Businessweek

Here’s some good reading to follow up on yesterday’s show about Wal-Mart.

When fast-food workers staged protests this summer to demand the federal minimum wage be raised from $7.25 to $15 an hour, even sympathetic observers weren’t optimistic about the prospects. There seems to be a ready supply of people who will work for low wages. And higher wages could lead to higher prices, which few so far seem willing to pay; my colleague Venessa Wong figured that if fast-food wages doubled and companies did not reduce other costs, the price of a Big Mac could increase by $1 to offset the increase.

via Fast-Food Wages Come With a $7 Billion Side of Public Assistance – Businessweek.

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