- United States
- Ohio
- Letter
All about the economy.
Let me say it very simply.
Customers create jobs.
The more customers there are, the more jobs are created.
You create customers by putting money into the hands of those who will spend it.
If you spend a billion dollars on millionaires, most of that money goes into investments.
If you spend a billion dollars on roads, bridges, dams, libraries, teachers, fire depts, police, soldiers and their families, veterans, students, etc. almost all of that money is going to go right into the economy -- those are the customers. They will create jobs. And something like 36% of that billion dollars will come back to the government in the form of tax revenue.
So providing unemployment benefits, food stamps, stimulus projects, student loans, infrastructure repair-and-maintenance, etc. will do more for the economy than another round of tax breaks for the rich.
Raising the minimum wage will produce a small bump in prices, yes -- but it will produce a much larger bump in available customers. So if you were in business and you had a choice between your present situation or 10% more more customers for a slightly higher priced product, what would you choose?
We have to stop being short-sighted. If we do not take care of those at the lowest economic levels, we will not be able to take care of those at the highest.
America was known for 200 years as a land of opportunity. It's time to restore that promise. Raising the minimum wage is a necessary first step. NOT giving tax breaks to the wealthy and to corporations is the second step.