Wages Are Finally Rising, 10 Years After the Recession
It’s no secret; tight labor markets produce higher wages. The deleterious effects of labor gluts are felt most profoundly at the bottom: the greater the number of people seeking unskilled labor, the lower the wages for “those who need it most”.<p>Hence, the solution to low wages is to stop importing poor foreigners who undercut American wages. Couple that with the elimination of corporate taxes, and there will be no incentive for offshoring or inverting. Become the world&#x27;s biggest tax haven, and incomes will skyrocket.<p>The laws of economics cannot be wished away, and the lesson is clear: cut taxes, close the borders, and prosperity will result. If we could, now, substantially cut social spending – with all these people working, it should be possible to seriously reduce handouts – then we could afford to cut taxes AND pay for the sort of infrastructure program (exclusively projects of national importance) while reducing the deficit.