I guess where I’m coming from is that they might invest in new capital equipment if there is demand for their product or service.
I may buy a new company car if I can expense it all in the first year.
But I am not paying my people more or hiring more guys if I don’t see more demand. And demand is falling. The people don’t have enough money in their pockets to buy my schtuff.
The people need a raise to be able to live a dignified life and save for the future. The majority cannot save.
What’s been happening is that a limited supply of money is purchasing various things. We must have cable for phone, tv and internet. We must have a cell phone. Then there is all the normal and regular expenses of living.
We should do a bottom up analysis of what it takes to live in a particular place.
Where I live you cannot get a decent apartment for under $1000 a month.
Taxes are high. Car insurance is insane. Gasoline is a reasonable $2.39 a gallon. But you need car insurance, life insurance, homeowners or renters insurance, health insurance, etc. Gas and electric and food and clothing not to mention booze, cigarettes, junk food snacks, all the necessary bad stuff.
Christ, you need $60,000 a year just to survive without saving a dime in retirement.
That’s $30 an hour or 2 people making $15 an hour.
The state of N.J. needs the $15 an hour minimum wage!
I’m talking to you Phil Murphy, Democrat NJ.
Parker for Governor 2021!