$15 per hour is Too High

There are four problems with raising minimum wage to 15 dollars an hour.  One problem is that cost of living is going to skyrocket because businesses are going to have to up the prices in order to compensate for paying people more money.  Two, unemployment is going to be higher because businesses are going to have to cut people to pay more money for those that are left behind.  Three, taxes are going to have to go up in order to pay for the those that are on welfare, hud housing, food stamps, and other forms of assistance.  Four, ultimately we will enter a Great Depression because stocks are going to drop, prices are going to be expensive, and a lot of homeless on the streets. Many people think about only immediate benefits and not the long term consequences.  It seems like our Congress for once knows that raising minimum wage is going to hurt the economy.  However, the problem is the people and the lack of education they have on the whole situation.

There is one benefit, immediate happiness. Then it goes downhill after that, if Congress were to pass it then they will be the stupidest people on earth.  

I think that in our education system we should basic economics be taught to children in high school.  Maybe that will help save this country.  

 

Increase Benefits with A Cost

So Congress has decided that they want to increase benefits to people that are receiving Social Security and Medicare. However, all this benefits are going to come at a high cost. Taxes are going to increase, the Congress is going to increase taxes so they could pay for all these benefits. As a result, inflation is going to occur and the people that are going to be affected the most are the poor people.

The poor people are going to impacted because Congress is going to decrease the amount of people that are going to receive aid. They have to decrease aid in areas that affect them the most. Like Head Start programs, Food Stamps and other forms.

Now before you start trying to blame a party. Look at it this way. One, Republicans hold a majority in House of Reps. Two, Democrats hold a majority in the Senate. Congress has decided that this was the only solution, but there is more solutions then what they think. This is similar to what happen in Jimmy Carter's time and Ronald Reagan decreased taxes in order to get inflation down.

History tends to repeat itself. People may think it is cool that Social Security and Medicare got increased, but in the end it is the same before the benefits were increased. Taxes increase and so does the price to live.