Quote:
Originally posted by Secret_Agent_Man
The United States could surely pay the price for those things (i.e. universal health coverage and much higher minimum wage) if the nation was willing to raise taxes significantly and sacrifice a percentage point (or two ) of GDP growth each year. Our economy would be less dynamic, and look much more like Europe than it does now. So, there would be less wealth creation -- and undoubtedly other social costs, expected and unexpected.
S_A_M
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Again those things have costs/effects that are dyametrically opposed to what you are trying to achieve. Raising minimum wage would be great, except that businesses would have to cut workers. So while those who were productive enough to keep their jobs would make more, there would be a net job loss. And of course, those that did make more would take home LESS because their taxes have been raised to pay for health care, the quality of which would surely decline to a level similar to Canada and Europe, not to mention the negative effect the large tax raises would have on the economy, which would mean even less jobs available.
I could go on and on but my keyboard is about to rupture because I am so agitated.
