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#51
May 3 2023 09:56pm
Quote (El1te @ May 3 2023 10:54pm)
This is indeed something that left wing people fail to realize.

By making life more affordable (necessities - food, fuel, shelter), that IS a minimum wage increase, as their wage is now worth more.

Lower taxes? Minimum wage is increased.

Cheaper gas? Minimum wage again increased.

The same people often operate under a very flimsy assumption that tax revenue helps those minimum wage earners enough to justify it. Not even close in my opinion - a VERY small fraction of taxes goes toward actually helping the poor.


I too am in favor of mandatory price caps. Glad to have you on board.
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#52
May 3 2023 09:58pm
Quote (NetflixAdaptationWidow @ May 3 2023 08:56pm)
I too am in favor of mandatory price caps. Glad to have you on board.


They can indeed be good when appropriate
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#53
May 3 2023 10:00pm
Quote (El1te @ May 3 2023 08:58pm)
They can indeed be good when appropriate


An example of where a price cap would not be appropriate is if the capped price is lower than the cost to produce said good or service. Then, the provider ceases to produce that good or service as it is no longer profitable, and the economy shrinks. When this is food, you can get widespread famine and death if it gets out of control.
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#54
May 3 2023 10:14pm
Quote (El1te @ 4 May 2023 06:00)
An example of where a price cap would not be appropriate is if the capped price is lower than the cost to produce said good or service. Then, the provider ceases to produce that good or service as it is no longer profitable, and the economy shrinks. When this is food, you can get widespread famine and death if it gets out of control.


It's equally problematic to have price caps below production cost on stuff like energy or everyday goods. Simply put, price caps only make sense to reign in excessive greed, and only on products which are indispensable and highly profitable at the same time. The prime example being stuff like insulin where some cunt was jacking up prices by 800% for no other reason than that he could.
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#55
May 3 2023 10:19pm
Quote (Black XistenZ @ May 3 2023 09:14pm)
It's equally problematic to have price caps below production cost on stuff like energy or everyday goods. Simply put, price caps only make sense to reign in excessive greed, and only on products which are indispensable and highly profitable at the same time. The prime example being stuff like insulin where some cunt was jacking up prices by 800% for no other reason than that he could.


This is proof that laissez-faire capitalism doesn't work.

Some people want the state to control everything, while others want the government to get out of the markets completely. I am middle of the road. I think the government should try and let the markets develop on their own, however they should step in when people's economic actions are starting to hurt others, or when greed gets out of control.
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#56
May 3 2023 10:40pm
Quote (El1te @ May 3 2023 11:00pm)
An example of where a price cap would not be appropriate is if the capped price is lower than the cost to produce said good or service. Then, the provider ceases to produce that good or service as it is no longer profitable, and the economy shrinks. When this is food, you can get widespread famine and death if it gets out of control.


Yeah but that'd be pretty hard to do right now. For instance, egg producing hens didn't change almost at all in the last 3 years, nor did egg production, but prices went up and profit margins went up 700%.

The bird flu causing an egg shortage isn't supported by any actual numbers that I've been able to find. Just by people saying egg shortage even though production numbers don't seem to have declined.

That would have been a great time for a windfall profits tax or a price cap.
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#57
May 4 2023 05:06am
Quote (El1te @ May 4 2023 05:54am)
This is indeed something that left wing people often fail to realize.

By making life more affordable (necessities - food, fuel, shelter), that IS a minimum wage increase, as their wage is now worth more.

Lower taxes? Minimum wage is increased.

Cheaper gas? Minimum wage again increased.

The same people often operate under a very flimsy assumption that tax revenue helps those minimum wage earners enough to justify it. Not even close in my opinion - a VERY small fraction of taxes goes toward actually helping the poor.

Not to mention frivolous and ineffective regulation, which drives up the cost of goods and services, which is passed down to the consumer through higher prices.


for context: just before i made that post i read an article about recent salary increases in germany

they did the numbers and a regular industry worker on an average salary, who gets a 100€ increase........makes 41 bucks NET

lowering taxes on income and essential commodities would go a long way

price caps are not needed when the supply is there


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#58
May 4 2023 06:54am
Quote (Santara @ May 3 2023 07:13pm)
Isn't that what the standard deduction is for?


*corporate tax burden.

better yet, eliminate all corporate tax cuts. period, full stop.
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#59
May 4 2023 09:30am
Quote (NetflixAdaptationWidow @ May 3 2023 09:40pm)
Yeah but that'd be pretty hard to do right now. For instance, egg producing hens didn't change almost at all in the last 3 years, nor did egg production, but prices went up and profit margins went up 700%.

The bird flu causing an egg shortage isn't supported by any actual numbers that I've been able to find. Just by people saying egg shortage even though production numbers don't seem to have declined.

That would have been a great time for a windfall profits tax or a price cap.


I think you're totally right, now I'm no expert in food costs & profit margins but since the cost of groceries has increased so much relative to the cost of labour it makes sense that it is lopsided not in the consumers favour
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#60
May 4 2023 09:41am
Quote (NetflixAdaptationWidow @ May 3 2023 11:40pm)
Yeah but that'd be pretty hard to do right now. For instance, egg producing hens didn't change almost at all in the last 3 years, nor did egg production, but prices went up and profit margins went up 700%.

The bird flu causing an egg shortage isn't supported by any actual numbers that I've been able to find. Just by people saying egg shortage even though production numbers don't seem to have declined.

That would have been a great time for a windfall profits tax or a price cap.


excuse me but wut? surely didn't justify 10$/doz prices, but production 100% was disrupted.

https://www.ers.usda.gov/data-products/chart-gallery/gallery/chart-detail/?chartId=105576

Quote
Highly pathogenic avian influenza (HPAI)—a disease infecting birds and poultry—struck egg-laying hens throughout 2022. As a result of recurrent outbreaks, U.S. egg inventories were 29 percent lower in the final week of December 2022 than at the beginning of the year. By the end of December, more than 43 million egg-laying hens were lost to the disease itself or to depopulation since the outbreak began in February 2022. Losses were spread across two waves: from February to June (30.7 million hens) and from September to December (12.6 million hens).


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