Hmm...California, ranked as least business-friendly state, blows past all others in job creation
Economist Christopher Thornberg, a founding partner with Beacon Economics, noted last week that California’s reputation for being unfriendly to businesses hasn’t slowed the state’s forward momentum — particularly in job creation.
“You could argue that just in the last four months we have finally erased the last residuals of the Great Recession out of the labor market,” he said. “And of course California, once written off as a disaster of business unfriendliness, is continuing to lead the nation in terms of economic growth.”
Figures show California added nearly 447,000 new jobs last year, more than Texas and Florida combined.
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Of course Forbes won't ever come near such a stat since it wouldn't support their libertarian bullshit narrative.
And with a low minimum wage, minimum wage workers aren't paying much, if any, tax. Raise the minimum wage, and they're less of a drain on the state's funds. What's more, while it's true that goods and services that rely on minimum wage labour will rise in price, as labour is not the only cost they'll rise by less than the rise in wages. This means that minimum wage workers become relatively more wealthy, and as they're still not exactly swimming in money, they'll spend almost all of it, which is good for the economy - it increases demand.
Now, there is a downside - the incomes of the wealthy won't rise with a minimum pay increase, so this is a transfer of wealth from the rich to the poor. Then again, so is having to pay out welfare because the poor are paid too little to live on wages alone. However, as the truly rich avoid paying a great deal of tax that the merely comfortable, the well-off, and the ever rarer middle-class can't avoid, welfare costs the rich less than paying the poor decent wages (and gives them more direct control over said poor).
The issue of bottom-end pay isn't really one of economics these days, but about class warfare and power.
Just seeing a big problem. At one point in time CA was looking to be a "failed state," illegal immigrants contributing to up to 30% of the deficit.
I may lean left at times...but this...not sure where I am, but something needs to be done especially when immigrants refuse to be legit. (Don't want to pay taxes and all that)
Clearly California is doing something wrong!
Seriously, I wish my state would just leave the union, and let that parasite of a political party, the GoP, get their funding for their asinine policies elsewhere.
#CalExit2016
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I was laughing. It was a good chunk of bullshit.
Warning : Above post may contain snark and/or sarcasm. Try reparsing with the /s argument before replying.
What the world has learned is that America is never more than one election away from losing its goddamned mindMe on Elite : Dangerous | My WoW charactersOriginally Posted by Howard Tayler
I would be embarrassed to have created this thread. The OP posted an article trying to force an dishonest narrative while somehow managing to act condescending. Either the OP did not read the article that he found so interesting, or he's just as dishonest as the author of the piece. Good job, OP.
minimum wage is class warfare! ah best laugh all day.
well if $25 comes to pass I'll be sure to buy gold with it all.
This directly says that California created more jobs, and with higher salaries, causing more people to look for work. Sounds like the minimum wage increase has been HUGELY beneficial for both Californian workers and businesses. Thank you for your very pro-minimum wage increase articleMore Californians entered the job market in June, which probably explains why the jobless rate increased even though the state added a healthy number of new positions.
So some genius says that mininum wages increase fucks jobs but companys that earns millions and pay like shit its allright .