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Leftist propoganda?

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    Leftist propoganda?

    I think this must be one of the most idiotic things I have ever read.

    London living wage 'would give Treasury a £608m boost' - London - News - London Evening Standard

    You can see the actual figures here:

    The cost of low pay > Juncture :: IPPR

    Note that the calculation of this £3.2bn boost for the exchequer includes the increased tax and NI take from the employees and increased employer's NI BUT there is no account taken of the reduction in corporation tax, tax/NI paid by bosses or the fact that reduced profits will mean less employees taken on with negative effects on tax and welfare.

    I keep looking at this "study" thinking I must have missed something. An economist cannot be that stupid surely?
    Last edited by xoggoth; 7 November 2013, 18:21.
    bloggoth

    If everything isn't black and white, I say, 'Why the hell not?'
    John Wayne (My guru, not to be confused with my beloved prophet Jeremy Clarkson)

    #2
    Originally posted by xoggoth View Post
    I keep looking at this "study" thinking I must have missed something. An economist cannot be that stupid surely?
    Threasury is not stupid - they are far more capable of getting most of money paid to people who live from one paycheck to another than getting money from pockets of those who can afford lawyers and accountants.

    Personally I think that minimum wage should be the "living wage" that they are referring to.

    Comment


      #3
      You could be right for all I know but that does not alter my criticism of this report. If there had been some examination of how the increase in tax revenues from workers would exceed the reduction of loss from employers I would not comment but it is not even considered.
      bloggoth

      If everything isn't black and white, I say, 'Why the hell not?'
      John Wayne (My guru, not to be confused with my beloved prophet Jeremy Clarkson)

      Comment


        #4
        One day I think London will just become a luminescent orb that'll detaching itself from mother Britain.
        "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

        Comment


          #5
          Minimum wage / living wage is just a full-on vote-winning scam, soaked up by the economically illiterate masses who don't realise it's exactly those kinds of policies that impoverish them in the first place.

          Let prices do their thing - that's what they're for!

          Comment


            #6
            Allowing companies to pay low pages then topping up with benefits is a taxpayer subsidy to those companies. Make them pay proper wages and save wealthy taxpayers like me the money

            Comment


              #7
              The more money you give these people the more they will spend, increasing demand. That is what makes the economy tick, and IMO it would be far more sensible to have a bit of wage inflation than more personal debt at the current juncture.

              The well known Trotskyite Henry Ford had a similar idea almost 100 years ago.

              Henry Ford - Wikipedia, the free encyclopedia
              While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'

              Comment


                #8
                Originally posted by xoggoth View Post
                Note that the calculation of this £3.2bn boost for the exchequer includes the increased tax and NI take from the employees and increased employer's NI BUT there is no account taken of the reduction in corporation tax, tax/NI paid by bosses or the fact that reduced profits will mean less employees taken on with negative effects on tax and welfare.
                There is no account of the savings on the benefits bill or the increased VAT take from them spending the money either. Or the overall economic effect of increasing consumer demand.
                While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'

                Comment


                  #9
                  Originally posted by doodab View Post
                  The more money you give these people the more they will spend, increasing demand. That is what makes the economy tick, and IMO it would be far more sensible to have a bit of wage inflation than more personal debt at the current juncture.

                  The well known Trotskyite Henry Ford had a similar idea almost 100 years ago.

                  Henry Ford - Wikipedia, the free encyclopedia
                  It's working out well in Detroit for car production, yeah for wage inflation!
                  Socialism is inseparably interwoven with totalitarianism and the abject worship of the state.

                  No Socialist Government conducting the entire life and industry of the country could afford to allow free, sharp, or violently-worded expressions of public discontent.

                  Comment


                    #10
                    Originally posted by MicrosoftBob View Post
                    It's working out well in Detroit for car production, yeah for wage inflation!
                    It did at the time.
                    While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'

                    Comment

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