Raising the Minimum Wage is Foolhardy 210208
February 8, 2021
Emailed to United Nations, Fed Chair Jay Powell, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, NYT/WSJ/WP/CNBC/DMN on 2/8/21
The following is a reprise of my April 15, 2016 commentary that explains why it is not a good idea to consider raising the minimum wage until the fiscal and accounting fraud that I call USAPonzi is exposed and rationalized! This fraudulent fiscal policy has created the wealth and income gap in America by printing counterfeit money and giving it to the U.S. upper class!
As of February 8, 2021, the corrupt U.S. Government has fraudulently borrowed $159.2 Trillion of counterfeit money from the future Americans and given it to the U.S. upper class!
We cannot close this wealth and income gap by artificially raising the wages of the oppressed U.S. general public! The U.S. Government needs to start telling the financial truth and stop printing counterfeit money and giving it to the U.S. upper class!
Raising the Minimum Wage is Foolhardy
April 15, 2016
As Posted on www.usaponzi.com
Both of the Democrat Presidential candidates (Hillary Clinton and Bernie Sanders) are promising that they will push for increases in the minimum wage if they are elected president. Bernie Sanders is calling for an increase to $15/hr. This is a "foolhardy" plan for trying to close the wealth and income gap between the upper class and the Common Man in the United States of America. We cannot keep jobs in the U.S. now because of the dramatic wage differential between the U.S. and other competing countries. Raising the minimum wage will only make that problem worse.
The wage differential between the U.S. and other countries is largely due to the fantasy economy that we have in the U.S. because of USAPonzi. The U.S. Government, by using a corrupt and fraudulent fiscal policy and accounting system, is giving the false appearance of wealth and prosperity in the U.S. The U.S. Government is operating with a dramatically unbalanced budget that is stimulating the economy, overpaying the Government workers, overpaying the social benefit recipients, and making the U.S. upper class appear to be filthy rich by undertaxing them.
This Ponzi scheme fiscal policy is creating imaginary-counterfeit money out of "thin air' with this GAAP basis deficit spending. This imaginary-counterfeit money is dramatically increasing the incomes and the personal wealth of the U.S. upper class and is dramatically reducing the incentive of the Common Man to work since the unreasonable and unaffordable social benefit promises of USAPonzi often offer a better lifestyle than working (See The Theory of Imaginary Money).
USAPonzi is allowing most U.S. citizens to live dramatically beyond their means. However, when USAPonzi implodes the private wealth of U.S. citizens and businesses will fall by about $101.9 Trillion (US Unfunded Liabilities (GAAP) as posted on www.usdebtclock.org), Government pay will have to be dramatically reduced, and social benefit promises will with have to be dramatically reduced. The economic conditions in the U.S. will almost instantly become the same as in most countries around the planet when USAPonzi implodes (See The Implosion of USAPonzi).
The U.S. Government should hold off making any changes to the minimum wage until they start telling the financial truth. The U.S. Government should not be making patch work adjustments to our fiscal or monetary policy until they establish an honest and sustainable fiscal policy. Our global economy is dramatically distorted by
USAPonzi, "The Ultimate Government Fraud" which is
"The Biggest Ponzi Scheme on the Planet"!
The financial data presented in this commentary was sourced from www.usdebtclock.org as of April 15, 2016.
End of April 15, 2016 commentary
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain USAPonzi and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can also be downloaded from my www.usaponzi.net website.
John W White