Sanders is a liberal. Like most liberals he’s humane. He wants the poor to not suffer, have higher wages, and a higher standard of living. He also considers globalization to be a threat. Jobs that provide cheaper goods to people to be a threat. His heart is in the right place. His methods to achieve what he wants not so.
What Sanders fails to realize is that mandating higher wages doesn’t make workers productive. It makes the country less productive. That is the reason jobs and manufacturing (requiring little brains) move to where there’s is cheaper labor.
It is the imposition of minimum wage that prevents a less productive (may be a minority) person/kid to get that experience that would help him get to a higher paid position. Mandating minimum wage forces companies to only hire a worker that justifies that wage. Minimum wage in effect is a ban against poor and less skilled workers to gain on the job experience. Labor unions didn’t force minimum wage to help the poor. They used minimum wage so that no poor would get a chance to work and get trained, in effect maintaining the stronghold of those already working. Sanders may be good at heart, but a good heart doesn’t improve economies or help the poor. These emotional rants sound wonderful but the substance is behind what the proposed policies are.
Some policies seem heartless, yet they make people stronger and more productive. Getting cheaper clothing and computer isn’t making people weak. It’s allowing people to have access to things only the rich had. Now even a nobody can afford a computer, and with it have access to all the knowledge in the world. Free education can be had at one’s convenience. Those who are willing will use these opportunities to better themselves. Others would collect welfare from government and keep playing video games. Should the people support those who are abusing the system or reward those who provide something worthwhile in return?
Having salaries that are astronomical doesn’t mean anything. Whether a CEO got 1 mil or 100 mil doesn’t change the life of a minimum wage earner. I doubt they even care about the CEO. What they do care about is their own life. CEO salaries are a function of private owners. If they wish to spend that money then let them do it. But don’t bail them out with public money when their 100 mil dollar CEO bankrupts the company. If there is no bailout the private owners and shareholders would force CEO salaries down or adapt in some other way. That’s what true growth looks like. The companies that produce what isn’t in demand fail and their resources are released to be used by others.
USSR tried to equalize the salaries and pays and it caused a mayhem and eventual collapse. Learn to recognize socialist policies that spread like cancer and destroy the incentive to improvise and improve. America wasn’t built on handouts. It was built on the shoulders of those who innovated and worked hard. Those who depended on their own wits and their fellow man, not on government handouts. Letting government dictate what is and should be is turning this free world into a prison, where the warden decides what’s permissible. Wardens do change, and at times for the worse, and they can damage an entire nation if they are given too much power.
Greenspan helped the big banks using policies that were harmful to the people who were not rich. That is true. The solution isn’t to install another person who can force policies that would help the poor. The solution is to not have such a strong institution that can affect so many across a nation with one misstep. That’s why the American founders dissolved the first two central banks by not renewing their charters. They understood the power these banks gain when they have the monopoly over printing money, and even that out of thin air.