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Old 06-03-2014, 12:11 PM
 
5,044 posts, read 4,923,450 times
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Quote:
Originally Posted by Keyan View Post
It just wouldn't work long term, if min wage was $15, the hamburger you eat at mcdonalds turns to $12
Good thing is, no more tipping.
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Old 06-03-2014, 12:21 PM
 
38 posts, read 50,944 times
Reputation: 51
Quote:
Originally Posted by UrbanAdventurer View Post
These arguments against raising it always crack me up/drive me insane. Such shortsighted nonsense.
the arguments are abosolutely pathethic...
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Old 06-03-2014, 12:57 PM
 
3,244 posts, read 5,229,409 times
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Mayor de Blasio says President Obama's $10.10 minimum wage is not enough - NY Daily News
Some people argue against any minimum wage. Needless to say, none of them have to live on anything near $300 to $600 per week, before deductions.
People also don't realize that the Earned Income Credit provides minimum wage earners with a "refund" that far exceeds their withheld taxes, so higher-earning taxpayers are already subsidizing these low-paid workers. Better their employers do.
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Old 06-03-2014, 01:27 PM
 
Location: new yawk zoo
8,654 posts, read 11,030,529 times
Reputation: 6313
what if there was no minimum wage? would people take $2 an hour job? $1 an hour?
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Old 06-03-2014, 01:32 PM
 
47 posts, read 43,340 times
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Quote:
Originally Posted by rubygreta View Post
$30,000 a year to flip burgers. Plus additional social security and Medicare payments made by the employee. Add another $3,000.

Every fast-food restaurant in Seattle that can will automate; you will no longer order from a human. Menu items that take too much preparation will be discontinued. The small business who was thinking about hiring the 3rd or 4th employee will manage without. The summer job market for teenagers will be wiped out.
Do you have any data to back any of that up? Or are you just assuming things?
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Old 06-03-2014, 01:36 PM
 
47 posts, read 43,340 times
Reputation: 39
Quote:
Originally Posted by Keyan View Post
It just wouldn't work long term, if min wage was $15, the hamburger you eat at mcdonalds turns to $12
Uh that isn't how it works. There isn't a one to one correlation and the fact that you think there is shows how ignorant you are of how economics actually works.


Here is an actual study

If Walmart Paid its 1.4 Million U.S. Workers a Living Wage, it Would Result in Almost No Pain for the Average Customer | Alternet
Quote:
A study released this week found that if the nation's largest low-wage employer, Walmart, were to pay its 1.4 million U.S. workers a living wage of at least $12 per hour and pass every single penny of the costs onto consumers, the average Walmart customer would pay just 46 cents more per shopping trip, or around $12 extra dollars each year.
So you should probably reconsider your idea that if the minimum wage raises by x then other prices will raise by x because it is just plain incorrect.
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Old 06-03-2014, 02:32 PM
 
1,092 posts, read 1,553,835 times
Reputation: 750
Quote:
Originally Posted by Opin_Yunated View Post
Who cares?

People need to stop categorizing each other by what they do. In fifty years, having a job will be worthy of enough respect. If we don't keep increasing the minimum wage, 50% of the workforce will be on welfare due to automation. We need the spending power in our economy so people can buy goods. We also need to bring back unions, hike the minimum wage even more, and beg corporations to hire people. It is going to take a good amount of government intervention to keep people at work.
Clearly u didn't get his point.

First of all, majority of minimum wage jobs, roughly 80%, are occupied by those whose household income is greater than $50,000 aka this 10.10 does jack **** for the poor. Most of the poor don't have jobs. They are not the ones complaining about minimum wage.

In this society there is a totem poll and an increase in minimum wage will have a ripple effect. If the bottom of the pile receives a 50% increase, society is compelled to increase the wages of professionals in white collar positions. Why? Because we strongly associate salary with value. Increase in MW will create a domino effect where salary levels and taxes are increased overtime to complement the increase of discretionary income.

Remember Obama's economist love Keynesian economics. All you need to take from Keynesian is that government spends money like a boss durring economic downturns, economy goes up, taxes taxes taxes. Only problem is that America has NOT recovered so in essence, America's economic policies failed. If above had worked, things would be fine. However, that is not the case. Bluntly put, unless the next administration scraps Keynesian BS, we will continue to see hikes in prices and taxes which will eat away very much of that 50% bump in minimum wage. The bigger problem that govt. should be working on is fostering an environment for job creation targeted at both middles class and poor. The MW bs is just a fog used to win votes to prepare for the next election. One thing Democrats always fail to mention is that it does eliminate jobs and you can be damn sure this MW bill will probably be put into effect AFTER the election.
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Old 06-03-2014, 03:13 PM
 
72 posts, read 124,521 times
Reputation: 102
$15/h after 7 years. This means that by 2021 the minimum wage in Seattle is $15/h. After 7 years that would be a BS wage taking into account the big inflation that is occurring in the last 5 years. This is all show by media
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Old 06-03-2014, 05:59 PM
 
Location: Long Island, NY
1,962 posts, read 2,698,537 times
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Seattle will soon be the home of the $50 cup of coffee.
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Old 06-03-2014, 08:55 PM
 
47 posts, read 43,340 times
Reputation: 39
Quote:
Originally Posted by MilksFavoriteCookie View Post
Clearly u didn't get his point.

First of all, majority of minimum wage jobs, roughly 80%, are occupied by those whose household income is greater than $50,000 aka this 10.10 does jack **** for the poor. Most of the poor don't have jobs. They are not the ones complaining about minimum wage.
Care to back this up with any data at all? Lets just say I am skeptical of your numbers so lets see them. On top of that we aren't just talking about minimum wage jobs but any jobs that pay under 10.10 since those would also be raised.

Quote:
In this society there is a totem poll and an increase in minimum wage will have a ripple effect. If the bottom of the pile receives a 50% increase, society is compelled to increase the wages of professionals in white collar positions. Why? Because we strongly associate salary with value. Increase in MW will create a domino effect where salary levels and taxes are increased overtime to complement the increase of discretionary income.
And this is a problem why? Also society isn't "compelled" to do anything...so not sure where you are getting that.
Quote:
Remember Obama's economist love Keynesian economics. All you need to take from Keynesian is that government spends money like a boss durring economic downturns, economy goes up, taxes taxes taxes.
Only problem is that America has NOT recovered so in essence, America's economic policies failed. If above had worked, things would be fine. However, that is not the case.
The recession is different from many others, but Keynesian economics hasn't really failed we haven't seen an actual Keynesian style stimulus. you seem to have very basic economic knowledge and you know the saying "a little knowledge is a dangerous thing".

A more correct interpretation of Keynesian economic thought would be along the lines of economies are reliant on aggregate demand and that should be the driving force behind economic decisions. Recessions you want to drive up demand to restart the economy and when its booming you want to slow down demand.

[quote]
Bluntly put, unless the next administration scraps Keynesian BS, we will continue to see hikes in prices and taxes which will eat away very much of that 50% bump in minimum wage.
[quote]
Already proven false. See my post on this page.

Quote:
The bigger problem that govt. should be working on is fostering an environment for job creation targeted at both middles class and poor. The MW bs is just a fog used to win votes to prepare for the next election. One thing Democrats always fail to mention is that it does eliminate jobs and you can be damn sure this MW bill will probably be put into effect AFTER the election.
Job creation comes from aggregate demand, it doesn't come from "an environment for job creation". If an employer can exploit a worker and make a profit they will if they can't they won't. Some low taxes job creator environment has nothing to do with it, people aren't being hired out of the goodness of a "job creators" heart they are being hired because they are profitable. You want to foster that environment increase aggregate demand for goods which is exactly what a raise in minimum wage will do.
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