this post was submitted on 01 Jul 2023
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Yeah and it's pushed by guys like Andrew Yang, who very obviously isn't pushing it to help people. He just wants to pay employees less and have the government top it up because it's not a good look for businesses to have their employees needing to go to food banks.
Just raise minimum wage and ignore these business people wanting government subsidies.
I would add: raise minimum wage and increase marginal tax rates, both on individuals and corporations. Fix capital gains while you're at it.
Incentivize the rich to invest in their businesses and the people that run them, instead of their stock portfolios and a Mercedes for their mistresses. You'd help solve Canada's productivity problems at the same time because we'd actually be doing useful work with our money, instead of house-trading.
What you're describing is basically how things were before Jack Welch came along and popularized excessive layoffs to please shareholders. Companies actually did take a lot of pride in having a lot of employees that had good working conditions before that asshole screwed everything up.
And yeah we have to tax the wealthy for sure. The stock market is bloated and it's unhealthy.
I call the mentality among billionaires "foolish greed". If they were taxed and money filtered its way to regular people through social programs, that would increase demand. Demand for the products their businesses sell. So they'd wind up getting that money back. Only difference is regular people would have a better quality of life while businesses competed to sell products that contribute to that better quality of life.
Fucking Jack Welch and Reagan's supply side economics. Everything was going great before those assholes. Well except for problems with oil prices causing economic instability, along with oil causing some much bigger problems we weren't aware of at the time. But now I'm getting off-topic.