Amity, can you give your opinion regards the Fed #minimumwage ? Should it be eliminated and left to the States as per the US Constitution? Would this be a significant positive event if accomplished?
Our press worries abt "foreign tourists", i.e. foreigners who pull money in and out of market. However, if US halved the capital gains tax, committing to keeping rate at 10%, the foreign tourists would flock in to "live here"-- upward prices for all.https://www.marketwatch.com/story/beware-of-foreign-tourists-pushing-up-the-sp-500-then-bailing-when-things-get-bumpy-says-citi-2020-05-12?mod=home-page …
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No Depression repeats, please. A minimum wage pressures employers to pay more. Pressure on employers to pay more worsens unemployment. Placing upward pressure on wages through the minimum wage and other moves contributed to the legendary unemployment of the Great Depression.
Fin de la conversation
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Thanks Amity for being a thoughtful capitalist in this world of socialist "fixes."
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These are business reporters!? Seriously? And they're suggesting that cheap foreign capital is something to be avoided?...I'm reminded what Stanley Baldwin said: [The press] is aiming at power, and power without responsibility — the prerogative of the harlot through the ages.
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Capital can live with restrictions but it abhors uncertainty. Lessen both and prosperity abounds.
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Le chargement semble prendre du temps.
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