So not only are we exporting jobs, but now importing cheaper labor, in addition to automating much labor. High supply of labor, unfavorable conditions for creating jobs (at least for small companies) and youll naturally get a depressed labor rate. If we artificially put a bottom cap on labor prices well see even fewer jobs (look at labor participation rates to see why the unemployment numbers are bunk) created. That will force many into working for cash or on the side. So I expect the next round of controls will have to do with reducing cash so the government can keep taxing labor and transferring that to the politically connected. What if half the labor force stopped working? Dry the supply of labor up and wages should raise naturally. Or, rather than stop working, I mean, start up their own businesses? Remain productive, but use the tax code to your advantage.
Posted on: Sat, 18 Oct 2014 12:47:32 +0000
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