John Fugelsang on Minimum Wage Capitalism

Posted by admin on Sunday, October 5, 2014

John Fugelsang Money Quotation saying we need to #raisethewage so our economic system can rely on people able to afford to spend disposable income. John Fugelsang said:
 
John Fugelsang Hey, you know what else is good for Capitalism? A living-wage workforce that can afford to, y'know, buy shit quote
 

“Hey, you know what else is good for Capitalism? A living-wage workforce that can afford to, y’know, buy shit” — John Fugelsang

 

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In this quote, John Fugelsang is arguing that paying workers a living wage is good for capitalism. He’s suggesting that if more workers earned higher wages, rather than low wages, they would have more purchasing power and ability to spend money. This increased consumer demand from a workforce that can “afford to buy shit” would be beneficial for businesses and the wider economy.

So Fugelsang is making the point that a thriving consumer economy depends on workers having wages high enough to meaningfully participate in markets as customers, not just as low-paid laborers. His view is that living wages can actually strengthen capitalism by creating a customer base that drives further business and economic growth.


NY's new $15 minimum wage for fast food workers will impact more than 100 brands doing business in the state. One caveat: They must operate in at least 30 locations nationwide. That suggests only the big guns — like McDonald's and Dunkin' Donuts — would be hit with the wage hike when it fully takes effect in 2021. 💰🍔🍟💰🍩 But since many fast food franchises are operated by individuals, that means it will take a toll on small business owners like Laura Jankowski, who owns three Tropical Smoothie Cafe franchises on Long Island. The brand has 16 locations in New York and more than 400 nationwide. "There's not much more wiggle room [to increase prices without losing customers]," she said. "I'm going to have to cut crew." What do you think of the new minimum wage? Read more by clicking the link in our profile @cnnmoney #minimumwage #wage #money #fastfood #cash @mcdonalds @dunkindonuts #food #job @usdol

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