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Old 08-07-2019, 05:17 AM
 
1,362 posts, read 708,552 times
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Minimum wage rate's effect upon USA's living standards.

The minimum wage rate is applied to the least desirable employee or applicant for the least challenging job. Those people are in the poorest of wage negotiating positions.

When the federal minimum wage rate's increased, employers (are not required, but due to the concepts of wage differentials,) also generally increase their other wage rates. Job rates' proportion of increase are inversely related to the difference between the job's and the minimum rates; (i.e. the working-poor rates proportional increases are greater, and the higher rates' proportional increases are lesser).

Within enterprises and industries, earners of lesser than higher wage rates are generally more numerous. Due to this, reducing the minimum rate is detrimental to the median wage rate.

USA's median family income's purchasing power is indicative of our living standards. The overwhelming plurality of USA families' incomes below the median income are employment derived, (i.e. wages). This explains how the minimum wage rate substantially affects our nation's living standards.
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Old 08-07-2019, 05:27 AM
 
Location: Outside US
1,331 posts, read 529,223 times
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Explain for the layman please - if you can.
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Old 08-07-2019, 06:56 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,829 posts, read 40,286,779 times
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I have residences and businesses in;
1) State with ~ $15hr minimum wage (in some cities) $12 state wide
2) State with $7.25 minimum wage

As an employer (job creator) and economic developer for small communities... There is little difference in CoL / Quality of life in the two regions. Employees (today) generally feel 'entitled'. So why work at all?

There are plenty of homeless and "Help Wanted signs" in both locations.

'Choice' is alive and well in the USA.
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Old 08-07-2019, 07:06 AM
 
Location: The Triad (NC)
28,709 posts, read 62,684,962 times
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Quote:
Originally Posted by Returning2USA View Post
Explain for the layman please - if you can.
^^Valid point. You really do need to find someone to edit your stilted and convoluted phrasing.
I suspect that many of your posts have something to say, but if they aren't being read...
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Old 08-07-2019, 07:28 AM
 
1,201 posts, read 273,085 times
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My living standard goes down as the cost of goods and services going up due to the increased labor costs brought on by minimum wage.
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Old 08-07-2019, 08:37 AM
 
Location: NYC
13,118 posts, read 8,891,322 times
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Raising the minimum wage just raises the costs of goods and services. Businesses will pass the cost onto consumers as always. Prior to that government supplements low income with assistance. Raising the minimum wage has implications, some workers with overtime may no longer qualify for assistance if they go over the income threshold. It's win for government to push the cost to the private sector but the end result would be bad for low income because the costs of services will go up and they will have to pay more for their necessities.

Countries that don't have minimum wage do just fine.
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Old 08-07-2019, 09:25 AM
 
8,417 posts, read 9,180,174 times
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Quote:
Originally Posted by Supposn View Post
Minimum wage rate's effect upon USA's living standards.

The minimum wage rate is applied to the least desirable employee or applicant for the least challenging job. Those people are in the poorest of wage negotiating positions.

When the federal minimum wage rate's increased, employers (are not required, but due to the concepts of wage differentials,) also generally increase their other wage rates. Job rates' proportion of increase are inversely related to the difference between the job's and the minimum rates; (i.e. the working-poor rates proportional increases are greater, and the higher rates' proportional increases are lesser).

Within enterprises and industries, earners of lesser than higher wage rates are generally more numerous. Due to this, reducing the minimum rate is detrimental to the median wage rate.

USA's median family income's purchasing power is indicative of our living standards. The overwhelming plurality of USA families' incomes below the median income are employment derived, (i.e. wages). This explains how the minimum wage rate substantially affects our nation's living standards.
Disagree.
1). The notion that incremental increases in the minimum wage exert much pressure on median incomes (~$31 hr.) seems to be unsupported by experience and academic research.

2). If increases in minimum wages offered the net positive impacts claimed by those on the left France for one would have increase minimum wages to say USD equivalent of $25hr.

3). Australia has a very high minimum wage and of course they also have very high unemployment numbers relative to the cadres (young people, the skilless, older people riding out the clock) that earn around the minimum wage. U3 in Australia is roughly 1/3 higher than US U3.
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Old 08-07-2019, 10:00 AM
 
8,417 posts, read 9,180,174 times
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Quote:
Originally Posted by Supposn View Post
Minimum wage rate's effect upon USA's living standards.

The minimum wage rate is applied to the least desirable employee or applicant for the least challenging job. Those people are in the poorest of wage negotiating positions.

When the federal minimum wage rate's increased, employers (are not required, but due to the concepts of wage differentials,) also generally increase their other wage rates. Job rates' proportion of increase are inversely related to the difference between the job's and the minimum rates; (i.e. the working-poor rates proportional increases are greater, and the higher rates' proportional increases are lesser).

Within enterprises and industries, earners of lesser than higher wage rates are generally more numerous. Due to this, reducing the minimum rate is detrimental to the median wage rate.

USA's median family income's purchasing power is indicative of our living standards. The overwhelming plurality of USA families' incomes below the median income are employment derived, (i.e. wages). This explains how the minimum wage rate substantially affects our nation's living standards.
I'll come back later. I may have misunderstood your point sorry if I do so.
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Old 08-07-2019, 10:53 AM
 
1,362 posts, read 708,552 times
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Quote:
Originally Posted by vision33r View Post
Raising the minimum wage just raises the costs of goods and services. Businesses will pass the cost onto consumers as always. Prior to that government supplements low income with assistance. Raising the minimum wage has implications, some workers with overtime may no longer qualify for assistance if they go over the income threshold. It's win for government to push the cost to the private sector but the end result would be bad for low income because the costs of services will go up and they will have to pay more for their necessities.

Countries that don't have minimum wage do just fine.
Vision33r, every industrial nation has something that similarly performs the functions of USA's minimum wage rate laws. In most of those nations they are, as in the USA embedded within their government's laws and regulations Within the minority of industrial nations, those functions are accomplished by quasi-government organizations in a manner that's recognized and completely supported by their government's laws.

Addressing you and all others who disagree with my posts on the question of the minimum wage rate's relationship to the U.S. dollar's rate of inflation,
Quote:
Originally Posted by Supposn View Post
How inflationary is the federal minimum wage rate?

Although labor contributes a substantial portion, labor is only a portion of aggregate products' costs; (this is true even among service products). The federal minimum wage rate effects Low-wage labor and has extremely little proportional effect upon higher wage rates, it is not among the primary causes of U.S. dollar's losses of purchasing power.
The federal minimum wage rate's purchasing power's much less a cause and much more a victim of U.S. Dollar's inflation.
Federal minimum wage rate's purchasing power's purpose is to reduce incidences and extents of poverty among USA's working-poor.
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Old 08-07-2019, 05:17 PM
 
1,362 posts, read 708,552 times
Reputation: 378
Quote:
Originally Posted by EDS_ View Post
I'll come back later. I may have misunderstood your point sorry if I do so.
Quote:
Originally Posted by EDS_ View Post
Disagree.
1). The notion that incremental increases in the minimum wage exert much pressure on median incomes (~$31 hr.) seems to be unsupported by experience and academic research.

2). If increases in minimum wages offered the net positive impacts claimed by those on the left France for one would have increase minimum wages to say USD equivalent of $25hr.

3). Australia has a very high minimum wage and of course they also have very high unemployment numbers relative to the cadres (young people, the skilless, older people riding out the clock) that earn around the minimum wage. U3 in Australia is roughly 1/3 higher than US U3.
EDS, thank you for the tone of your responses.
City-Data Moderators have instructed me not sign my posts; “Signatures are disabled. Do not include "manual" signatures in your posts. You can put a lot of information in your profile instead”.
My practice in all other groups is to sign my posts as “Respectfully, Supposn”. It reminds myself and all others of mutual respects' common benefits.
//////////
(1) I don't understand your post's reference to “(~$31 hr.)”. I made no reference to $31/Hr?
(2) I'm defending my statements, rather than what you believe the French left contends.
(3) I've tried to understand some things regarding Australia's minimum wage rate laws, but I'm not at the moment prepared to discuss their entire economy.
But USA's Federal minimum wage laws, or any individual facet of any industrial nation's economy, is not entirely responsible for the nation's economic wellbeing.

If a superior minimum wage law should be enacted, there's still need for superior acts governing our global trade, our educational, and our healthcare systems. Any improvement of our training and education would be no less reflected by consequential improvement of our economic and social wellbeing.

Referring to the first post within this thread:
When the purchasing power of the minimum wage is reduced, I do not pretend to know the extent or proportion of the median wage's loss. But because lower rate earners outnumber higher earners, the median wage must suffer some loss; that's a mathematical certainty.

What, if any fault do you perceive with that reasoning?
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