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by nostrademons
4818 days ago
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It wouldn't actually help. The reason poverty makes the poor suffer is that they struggle to afford basic necessities of life. The price of those necessities is set by how much money the average person has available to spend on them. If you give everyone more money, then the price of food/rent/medicine will just rise accordingly. Just look at what's happening with Bay Area rents. Larry and Sergey having a few billion doesn't materially impact them. Google expanding from 20,000 => 35,000 employees and paying all of them $150K+ does. Now there's someone else who makes just as much as you who's willing to pay a premium for that apartment. The way to drive down the cost of basic necessities is through massive improvements in productivity that suddenly make the supply of a good large enough for everyone to have one. Think of Ford and the automobile, or GE and household appliances, or Apple/Dell/Microsoft/Intel and computers, or the green revolution and food. |
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These folks are going to qualify for Medicaid in 2014. They can't participate in the market-based healthcare system. They're just too poor. Give them more money, and they'll be able to participate in a market-based system.
That's at odds with your argument about high tech gentrification in the Bay Area. Those workers were going to start out at the median income, and only earn more over time. So the effect of their getting more money is going to raise prices.
My argument is that the janitors at Google (and other companies owned by the wealthy) should get paid more. My argument is that that housekeeper hired by Meg Whitman should have been paid more, and paid overtime etc.