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The question was: If , since 1960, the minimum wage had increased at the same rate as productivity, then it would be $22/hr. What happened to the other $14?
If she's so "stupid", like you say, then surely you have a great answer to her question. What is your answer ?
There are a lot of reasons for an increase in productivity. I think her premise is flawed. Increases in productivity do not mean that wages must go up proportionately. That is nonsensical. I can't imagine what her logic is. But, knowing Elizibeth Warren, collectivist that she is, and uber "Progressive" liberal idiot, she has no logic. None of these people think logically.
Minimum wages are irrelevant when workers are competing with people that are given the choice of work for free or die. Any wage cannot compete with Chinese prison labor. We need countervailing tariffs before we can consider any wage standards at all. With tariffs to negate the difference in the wage component of the price we can let the rest of the manufacturing system compete on the other cost factors.
Minimum wages are irrelevant when workers are competing with people that are given the choice of work for free or die. Any wage cannot compete with Chinese prison labor. We need countervailing tariffs before we can consider any wage standards at all. With tariffs to negate the difference in the wage component of the price we can let the rest of the manufacturing system compete on the other cost factors.
We're not talking about offshore jobs here but manual labor that has a physical presence in the US.
We can't use Chinese prison labor to take your order at McDonalds.
Tariffs won't do any good about the wage the cashier at Walmart makes.
Most cashiers make more than the minimum wage because being a cashier requires some skill and the skill is relatively scarce. I was aiming the tariffs at manufacturing labor as well as the presence of manufacturing jobs in this country.
Most cashiers make more than the minimum wage because being a cashier requires some skill and the skill is relatively scarce. I was aiming the tariffs at manufacturing labor as well as the presence of manufacturing jobs in this country.
Really ? Swiping a product under a scanner, keying in the amount a person gives you and then give the change the machine tells you to give is "skill" ?
Good Lord, cashiers today would have never survived a decade or two ago when you had to key in the amount and figure out the change in your head. That cash register was not a computer that did all the thinking work for you.
The only skill needed is one working arm and the ability to read numbers and count cash.
That's accomplished by 5th grade.
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Quote:
Originally Posted by HappyTexan
Really ? Swiping a product under a scanner, keying in the amount a person gives you and then give the change the machine tells you to give is "skill" ?
Good Lord, cashiers today would have never survived a decade or two ago when you had to key in the amount and figure out the change in your head. That cash register was not a computer that did all the thinking work for you.
The only skill needed is one working arm and the ability to read numbers and count cash.
That's accomplished by 5th grade.
And 1/2 of them can't count cash! There are many good cashier's, but there's just as many bad. And don't even try to give them anything other than paper, because if you add coin to it, it looks like their heads will explode. The order the other day was 5.76. I gave 10.01. You'd have thought I was wanting her to do calculus.
To most everyone that responded in the first page (I didn't read the others), I recommend watching the video. She doesn't actually say that minimum wage should be $22/hr. She was citing a study that was done, and Mr. Dube cited another study that presupposed that minimum wage income kept up with 1%er income, it would be $33/hr. What she did seem to advocate for, as she states in the session, was for a minimum wage increase to an average $10.10 over a 3-year span and what affect that might on businesses and the economy as a whole.
Do you guys actually watch the videos that someone posts or just accept someone else's synopsis of it? OP, did you not watch your own video or are you just trolling?
Let me answer that for you - NO, they did not watch the video. At least not initially - judging by the initial responses that were posted.
$30/bbl to $90/bbl is nominal? All those dimes aren't worth as much. THey are getting thinner and thinner. Is that too hard to understand? The buying power is reduced.
No you see its not with a general rise in prices. The poor, by what even means they do get their money, will get more of them in the same proportion. Only if its isolated to asset inflation which is NOT a general rise in price. Called stagflation. Turing blue again.....
And 1/2 of them can't count cash! There are many good cashier's, but there's just as many bad. And don't even try to give them anything other than paper, because if you add coin to it, it looks like their heads will explode. The order the other day was 5.76. I gave 10.01. You'd have thought I was wanting her to do calculus.
I learned to give the change FIRST and then the paper. You give them the paper first and start digging for change and they've already rung it up and that just screws everything up because they can't fix it themselves but have to get a manager now.
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And 1/2 of them can't count cash! There are many good cashier's, but there's just as many bad. And don't even try to give them anything other than paper, because if you add coin to it, it looks like their heads will explode. The order the other day was 5.76. I gave 10.01. You'd have thought I was wanting her to do calculus.
