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How much has rent gone up in the past five years? How about food? gas? Why should the minimum wage have no relationship to the cost of living? What defines "strong" job growth? An abundance of crappy wage jobs that pay half ones previous job is not my idea of "strong" growth.
How much can you expect to get from some who you pay below a subsistence level? You want someone sharp, courteous, ambitious but pay them dirt? You get what you pay for.
Employers will invest in labor saving devices if they can, and it is not connected to wages, at least not in America.
why should the minimum wages not be tied to the cost of living ?
the increases we see in food , housing , etc are caused by supply and demand issues ...stop using the item or find more supply and the price goes down .
oil and gas cost more 12 years ago then today . why ? usage went down and supply went up .
this kind of inflation is never solved by raising wages . that only makes things go higher as more money chases the same supply ....
wage increases help in monetary inflation not what we call demand inflation which is 90% of what we see here.
those with low wages may have to live golden girl style . no one is guaranteed their own private living space when you can't afford it .
The purpose of Demand-pull Inflation is to prevent the over-consumption, over-use or depletion of goods, services and resources that are more in demand then the supply we have .
Higher prices stop or cut back the over-consumption, over-use or depletion of goods, services and resources.
Therefore, it makes zero sense to increase wages, since that only serves to enable continued over-consumption, over-use or depletion of goods, services and resources, which results in even higher prices.
If people cannot afford to purchase the goods, services and resources affected by Demand-pull Inflation, then they need to seek substitutes, stop consuming or move to increase Supply to offset the rate of increase of Demand (assuming that's even possible in the first place , but raising wages as a solution can not fix that
Last edited by mathjak107; 12-25-2019 at 04:51 AM..
because wages have less to do with cost of living but rather what value and skills you bring to the employer.
a minimum wage artificially increases that cost to the business and now many are closing doors because of it.
it has been shown time and time again that min wage hurts more than helps those that need it most. either they get reduced hours or jobs get cut and replaced with automation.
something so simple that even a caveman can comprehend but leftists seem to struggle with.
those things we can do for ourselves will always pay very little regardless of what the cost of living is . that is why many jobs look to tips .. the worker is appealing to the customers charity to boost their wage to more then the market values it .
money can always be made doing the the things others can't or won't do themselves ... that does not even take a degree .. it takes thought and creativity ....
as newton said , an object at rest stays at rest .
most americans are just lazy .... the path of least resistance is what is taken by 65% of americans and that means doing the same thing they are doing and doing nothing to improve their skills or ability to earn more . there will always be those who excel and find a way , while the rest find an excuse .
But then people who truly need assistance end up in the streets. A min wage is a way to force businesses to pay a living wage to workers. A wage which the worker can survive off of without public assistance. If said business can not afford it, then their business model is flawed and they should go under. Welfare and food stamps should not be subsidizing low wages.
You are correct though, that no one would take the low paying jobs if they were not also eligible for public assistance. If you can’t live, you’d move on.
New York both state and local governments continuously rank in lowest percentile for being friendly to business. Between Fredo's big brother in Albany, and Sam the Eagle in city hall that has gone into overdrive over past decade or so.
The article states that A.Torres, a single mother of 2, would be entitled to 6 weeks of paid vacation in her home country of Mexico, but has no paid vacation working at a nail salon or something in the Bronx, and is "lobbying" for mandatory paid vacation time. What I cannot comprehend in this story is why she is not then living and working in her home country of Mexico, rather than lobbying for making the US more similar to Mexico.
That sets up a highly inflationary positive feed back loop. The cost of living goes up, so the minimum wage goes up. The minimum wage goes up, so companies costs go up. They raise prices so the cost of living goes up. Repeat.
Bad idea.
Quote:
Originally Posted by mathjak107
why should the minimum wages not be tied to the cost of living ?
the increases we see in food , housing , etc are caused by supply and demand issues ...stop using the item or find more supply and the price goes down .
oil and gas cost more 12 years ago then today . why ? usage went down and supply went up .
this kind of inflation is never solved by raising wages . that only makes things go higher as more money chases the same supply ....
wage increases help in monetary inflation not what we call demand inflation which is 90% of what we see here.
those with low wages may have to live golden girl style . no one is guaranteed their own private living space when you can't afford it .
The purpose of Demand-pull Inflation is to prevent the over-consumption, over-use or depletion of goods, services and resources that are more in demand then the supply we have .
Higher prices stop or cut back the over-consumption, over-use or depletion of goods, services and resources.
Therefore, it makes zero sense to increase wages, since that only serves to enable continued over-consumption, over-use or depletion of goods, services and resources, which results in even higher prices.
If people cannot afford to purchase the goods, services and resources affected by Demand-pull Inflation, then they need to seek substitutes, stop consuming or move to increase Supply to offset the rate of increase of Demand (assuming that's even possible in the first place , but raising wages as a solution can not fix that
Status:
"Let this year be over..."
(set 16 days ago)
Location: Where my bills arrive
19,219 posts, read 17,075,134 times
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Quote:
Originally Posted by elnrgby
The article states that A.Torres, a single mother of 2, would be entitled to 6 weeks of paid vacation in her home country of Mexico, but has no paid vacation working at a nail salon or something in the Bronx, and is "lobbying" for mandatory paid vacation time. What I cannot comprehend in this story is why she is not then living and working in her home country of Mexico, rather than lobbying for making the US more similar to Mexico.
I agree, reading the article it appears benefits are better everywhere else so why are people passing up on all these great countries to cross our borders illegally?
It may be an added factor. If a business has to close out because of the minimum wage, I say that business is not really doing well at all in the first place.
I say that anyone that hasn't owned a successful small business that had employees shouldn't be offering their input on small business models.
It is in the small businesses' best interest to subsidize labor with tax payer dollars... its free money. It would be a one sided discussion about rationalization/justification of corporate/business welfare.
This is like having a discussion over welfare, in which only the recipients are allowed to talk. The tax payers who support welfare aren't allowed to have a voice.
Why would anyone being the recipient of free money complain?
PS> Successful business owners pay enough wages so that their employees don't need to be supported by welfare. Simply being open and operating does not make a successful business.
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