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I like how a lot of people try to make an argument that minimum wage can't afford a 2bd anywhere. No kidding, it's a dang 2bd! Get a studio if you're single and making minimum!!
The rapidly expanding income inequality also drives up the cost of everything. The only difference in that scenario is that most people can't afford anything and the rich keep living the high life while they continue to drive the cost of everything up.
Some more complex economics for you.
Not so. Setting a minimum wage and raising it periodically to compensate for inflation is fine. Trying to set the minimum wage so that it provides a middle class lifestyle is another matter entirely. It is doomed to failure as you cannot simply legislate that everyone must be at least middle class.
$15/hour, from what I can tell, is a completely arbitrary number. I've never seen any study that states why $15 per hour is economically desirable as opposed to some other number. Probably someone picked that number out of thin air because it sounded good and people latched on to it.
The rapidly expanding income inequality also drives up the cost of everything. The only difference in that scenario is that most people can't afford anything and the rich keep living the high life while they continue to drive the cost of everything up.
Some more complex economics for you.
Amusing. So what's your solution then? Robin Hood? Socialism? More taxes for the rich? I have my notepad and number 2 pencil at the ready. Fire away.
CEO's make millions and many don't even know how do an entry level job for the corporation they run. They get bonuses when a merger goes though and many employees lose their jobs as a result due to duplicate jobs. They also get millions in compensation when they leave a company even if it failed under their leadership. But that's never talked about. It's always lets target minimum wage workers or the lower class. People claim prices will go up as a result and that's true, but when my cell phone bill goes up did any of the lower tier workers see a raise? Nope, but I bet the CEO's did. My point CEO's don't really run a company the workers who show up and do their job do. Lets give a little more to the ones who really run it. But that will never happen.
Do you have a point? Because nothing in your post is relevant to the thread. It just seems like a rant. So again, do you have a point?
Company profits are at record highs and that money is sitting in the pockets of executives. Sorry, but it is time for the people who created those profits to get a raise!
The price of Walmart stock cratered yesterday -- the biggests one-day drop since 1987.
Why? Walmart previously announced it is raising the pay of all their employees, in particular those who earn minimum wage or slightly above; yesterday Walmart announced the impact to their financial statements.
$21 BILLION was wiped out in a day.
Just to be clear: the major shareholders of Walmart are public sector pension plans. So public sector pensions took it in the shorts.
Last edited by SportyandMisty; 10-15-2015 at 12:58 PM..
$15/hour, from what I can tell, is a completely arbitrary number. I've never seen any study that states why $15 per hour is economically desirable as opposed to some other number. Probably someone picked that number out of thin air because it sounded good and people latched on to it.
Actually, the $15 number was chosen as being most likely to rile up the worker bees to stand on the corner holding signs. Any more than $15 and the worker bees wouldn't believe it is possible, so they wouldn't go stand on the corner holding signs. Much less than $15 and they won't get off the couch.
"The increase in salary without a corresponding efficiency/productivity increase in the economy creates nothing but pure inflation so the net effect is absolutely and virtually nothing.
Instead of increasing minimum wage focus on improving productivity, encourage people to get more skills. Improve upward mobility by providing easier access to education. Increasing minimum wage is not the answer to current social problems."
I agree. This makes sense. It's a vicious cycle. The government should probably have like government-operated farms & hire from the people looking to be paid more than they are (or even from homeless people).
Do you have a point? Because nothing in your post is relevant to the thread. It just seems like a rant. So again, do you have a point?
My point was and still is... No one ever complains about CEO's that get raises and bonus for doing their JOB and even if they fail they still get millions in compensation. but if a low wage worker wants them, there is an outrage.
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