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+--- Thread: The way to beat inflation? (/showthread.php?tid=1123)
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The way to beat inflation? - Wainuiguy - 12-02-2022
How about increasing minimum wage to the same level as inflation creating...................more inflation.
https://www.nzherald.co.nz/business/government-raising-minimum-wage-to-2120/BAJVYSWR6VFLK6LRWQJNJMM7HQ/
Adding more costs for businesses, who increaee the costs of their products creating more inflation.
Forcing other peoples wages up in line with this increase creating more inflation.
Interesting that many union negotiated wage increases in the same period were for sometimes less than half of this increase - my staff for example received a 4% increase - only 2/3s the actual value of "official" inflation.
RE: The way to beat inflation? - Magoo - 12-02-2022
dammit, i thought you had come up with a way to beat inflation.
RE: The way to beat inflation? - Wainuiguy - 12-02-2022
(12-02-2022, 10:56 AM)Magoo Wrote: dammit, i thought you had come up with a way to beat inflation.Well I know a few ways to create it - and this government has pretty much pulled every lever to do so.
RE: The way to beat inflation? - Magoo - 12-02-2022
creating it is the easy part. even a government can do that.
RE: The way to beat inflation? - Wainuiguy - 12-02-2022
(12-02-2022, 11:08 AM)Magoo Wrote: creating it is the easy part. even a government can do that.One of the few things this government has created and excelled at.
RE: The way to beat inflation? - king1 - 12-02-2022
you do realise it's a worldwide problem?
RE: The way to beat inflation? - Wainuiguy - 12-02-2022
(12-02-2022, 12:30 PM)king1 Wrote: you do realise it's a worldwide problem?That may be but local inflation is still running at breakneck pace and this increase in min wage certainly won't help.
RE: The way to beat inflation? - Oh_hunnihunni - 12-02-2022
We could always do the opposite, decrease everyone else's income...
RE: The way to beat inflation? - Magoo - 12-02-2022
(12-02-2022, 02:43 PM)Oh_hunnihunni Wrote: We could always do the opposite, decrease everyone else's income...yes hunny, or we could increase taxes, that will stifle it.
specially if we hit the lower income folk hard
RE: The way to beat inflation? - Oh_hunnihunni - 12-02-2022
Well, it is logical. If the increase to the wages of the lowest paid boosts inflation, then doesn't it follow if we reduce the highest paid it will have the opposite effect?
Just pointing out the obvious flaw in yet another kick the poor argument...
RE: The way to beat inflation? - Magoo - 12-02-2022
but but but
trickle down...
RE: The way to beat inflation? - Wainuiguy - 12-02-2022
(12-02-2022, 02:58 PM)Oh_hunnihunni Wrote: Well, it is logical. If the increase to the wages of the lowest paid boosts inflation, then doesn't it follow if we reduce the highest paid it will have the opposite effect?What an idiotic argument. Boosting lower paid people isn't bad but it flows on up the line increasing wages for all then costs for all eroding the increase in the first place
Just pointing out the obvious flaw in yet another kick the poor argument...
RE: The way to beat inflation? - Zurdo - 12-02-2022
Give money to the poor, and they spend it...they may not spend it on you want them to, but they will spend it, and the money goes around. Give money to the rich, and it just gets put with the rest of the money.
RE: The way to beat inflation? - Wainuiguy - 12-02-2022
If you took all the money in the world and divided it equally amongst everyone within a few years those who had most of it at the start would have it again.
(12-02-2022, 02:43 PM)Oh_hunnihunni Wrote: We could always do the opposite, decrease everyone else's income...Bit like the argument Lilith said about Nordic countries - they pay hight tax and are happy. Just make everyone pay 60% tax and we will he the happiest country in the world.
RE: The way to beat inflation? - Zurdo - 12-02-2022
But on it's way back to the rich minority, that money with have been spent countless times, enriching peoples lives...for awhile. Rinse and repeat.
RE: The way to beat inflation? - Oh_hunnihunni - 12-02-2022
(12-02-2022, 04:36 PM)Wainuiguy Wrote: If you took all the money in the world and divided it equally amongst everyone within a few years those who had most of it at the start would have it again.Research indicates it isn't wealth that makes a nation happy.
(12-02-2022, 02:43 PM)Oh_hunnihunni Wrote: We could always do the opposite, decrease everyone else's income...Bit like the argument Lilith said about Nordic countries - they pay hight tax and are happy. Just make everyone pay 60% tax and we will he the happiest country in the world.
It is education.
(12-02-2022, 03:24 PM)Wainuiguy Wrote:Maybe the flowing up the line ought to stop. After all, the minimum wage is a minimum, for the lowest paid. There is no assumption the better paid others then need to restore the gap that made them the lowest paid - that attitude needs to just go away.(12-02-2022, 02:58 PM)Oh_hunnihunni Wrote: Well, it is logical. If the increase to the wages of the lowest paid boosts inflation, then doesn't it follow if we reduce the highest paid it will have the opposite effect?What an idiotic argument. Boosting lower paid people isn't bad but it flows on up the line increasing wages for all then costs for all eroding the increase in the first place
Just pointing out the obvious flaw in yet another kick the poor argument...
It is yet more evidence that a UBI is a sensible option.
RE: The way to beat inflation? - Wainuiguy - 12-02-2022
(12-02-2022, 05:04 PM)Oh_hunnihunni Wrote:UBI is a pipe dream for the terminally stupid or naive.(12-02-2022, 04:36 PM)Wainuiguy Wrote: If you took all the money in the world and divided it equally amongst everyone within a few years those who had most of it at the start would have it again.Research indicates it isn't wealth that makes a nation happy.
Bit like the argument Lilith said about Nordic countries - they pay hight tax and are happy. Just make everyone pay 60% tax and we will he the happiest country in the world.
It is education.
(12-02-2022, 03:24 PM)Wainuiguy Wrote: What an idiotic argument. Boosting lower paid people isn't bad but it flows on up the line increasing wages for all then costs for all eroding the increase in the first placeMaybe the flowing up the line ought to stop. After all, the minimum wage is a minimum, for the lowest paid. There is no assumption the better paid others then need to restore the gap that made them the lowest paid - that attitude needs to just go away.
It is yet more evidence that a UBI is a sensible option.
RE: The way to beat inflation? - king1 - 12-02-2022
was watching a doco recently (This Giant Beast That Is The Global Economy), in one episode about AI it was suggested that eventually some form of UBI will be required once AI and robots have replaced all the jobs, which they were thinking was a very real possibility...
RE: The way to beat inflation? - harm_less - 12-02-2022
(12-02-2022, 05:39 PM)king1 Wrote: was watching a doco recently (This Giant Beast That Is The Global Economy), in one episode about AI it was suggested that eventually some form of UBI will be required once AI and robots have replaced all the jobs, which they were thinking was a very real possibility...The closing activity in the Netflix doco 'American Factory' very much was towards robotics replacing manual workers with no real other job prospects, so a similar income replacement was implied.
RE: The way to beat inflation? - Lilith7 - 12-02-2022
In the future a UBI may be the way to go - more & more is being done by technology & that's unlikely to stop.
Perhaps in the future all humans will be paid a UBI, no one will work apart from a few specialised areas - & humans will be able to take advantage of free education & develop their creativity to lengths we can't even imagine now.
(12-02-2022, 04:36 PM)Wainuiguy Wrote: If you took all the money in the world and divided it equally amongst everyone within a few years those who had most of it at the start would have it again.I think you know the reason they're happiest isn't because they pay high taxes, but because they're able to access education & health of all kinds, because its paid for with their taxes.
(12-02-2022, 02:43 PM)Oh_hunnihunni Wrote: We could always do the opposite, decrease everyone else's income...Bit like the argument Lilith said about Nordic countries - they pay hight tax and are happy. Just make everyone pay 60% tax and we will he the happiest country in the world.
