Let's Raise The Minimum Wage to $115,000 per Year And Reduce Week To 20 Hours (fast food, salary)

[UNC4Me]

Originally Posted by skeeter31

I wanna know where the OP jacked that huge post from. I doubt the OP wrote it all themselves.

Also, where is all of this money going to come from? If everyone was paid that amount, the dollar would be worthless. We'd be looking at the dollar being valued like the Yen. You'd need $50,000 just to buy a piece of gum.

Shhh..... that's too much reality for a Tuesday

[hnsq]

OP - please post your footnotes with your calculations. I will have a field day with them.

[texdav]

Ah;ther gbreek plan;ssre income ot whereevryone can do pretty much nothing and let GDP and competitiveness drop to zero.Hech; poverty level income was middle class not that long ago really.

[FairnessIsGlorious]

Originally Posted by Del Boy

I don't know if Mircea is going to waste his time with this, but I'll wait for him to come here and crush this.

OP, don't worry though, he tends to do this to everyone.

I appreciate the heads up! But I am a formidable opponent. Hopefully he can deliver rational arguments instead of insults.

[FairnessIsGlorious]

Originally Posted by HurricaneDC

Oh I hope he does.

OP: if there was a way to magically make everybody wealthy, it would have been done.

There is no magical way. It takes the overthrow of our current economic system. And getting people to want to do that requires us to deprogram a significant majority of the population who were subjected to a lifetime of brainwashing. None of that is easy. But it is certainly possible.

[FairnessIsGlorious]

Originally Posted by Gtownoe

If what he posted was to happen you'd have to literally take the wealth away from some American families. I believe that's what he's saying.

Not saying that I agree, just reasoning through his post.

As explained in the post, 97% of American workers are getting exploited. That means they are getting paid less than what they should be getting paid if income was allocated fairly. Their wealth is literally being taken away.

All I am saying is that we should put an end to that and pay American workers fairly, not based on how much you can exploit them.

[slackjaw]

Sounds like a good plan, everyone at McDonalds should be making 100k.

Now I'll go order me one of those quarter pounders with cheese for $35.


Rodney Dangerfield's First Economics Class - YouTube

[FairnessIsGlorious]

HOW THE $115k - $460k INCOMES WERE CALCULATED


GDP, the total price of all the goods and services we produce each year, determines how much income is available to pay out to workers. If we produce $14.5 trillion in goods and services, we obviously need to pay out $14.5 trillion in income to buy all those goods and services. So $14.5 trillion is the total amount of income we have available to pay out to all workers.


If we paid 100% of our income to workers and if we determined that paying the top performers in performance based jobs four times more is enough incentive and that doing physically or mentally difficult jobs were undesirable and that paying the people who did these jobs two times more is enough incentive and this income distribution plan was democratically approved and passed the legal test, that would enable us to pay $460,000 per year to the top 2.5% of all workers; $230,000 per year to the 12.3 million workers who do the mentally or physically difficult work of science, computers, engineering, medicine, construction, mining, and farming; and $115,000 to everyone else.

In 2010, we produced $14.5 trillion in total income:
http://www.bea.gov/iTable/iTableHtml...905=2010&906=A

And we worked a total of 222,736 million hours:
http://www.bea.gov/iTable/iTableHtml...905=2010&906=Q

Cost of Top Workers $460k is $221.15 per hour.
They make up 2.5% of the total labor.
$1.231 trillion = $221.15 * 2.5% * 222,736 million hours
.
Cost of Difficult Workers
$230k is $110.57 per hour.
They make up 9.47% of the total labor.
$2.332 trillion = $110.57 * 9.47% * 222,736 million hours
.
Cost of Minimum Wage Workers
$115k is $55.28 per hour.
They make up 88.3% of the total labor (88.3 = 100 - 2.5 - 9.47).
$10.872 trillion = $55.28 * 88.3% * 222,736 million hours
.
Total Pay
~$14.5 trillion = $10.872 trillion + $2.332 trillion + $1.231 trillion


So when you pay everyone from $115k to $460k as described in this plan, you will pay out a total income of $14.5 trillion which is equal to the $14.5 trillion in income paid out in 2010.

[Miborn]

Originally Posted by shiftymh

Lol, where can I get some of those drugs you're on?

Thinking the same thing. They have been listening to the entitlement Liberals to much!

[SourD]

The OP must be under the impression that with wages like that everything else will stay at the same price.