Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
How about going out and getting marketable skills instead of expecting a high wage for work that takes absolutely no intelligence or skill.
we're talking about tying min wage to inflation. Do you understand what that means? It does not equal a high wage. It means making the minimum wage in real dollars the same as it was in 1980.
employers don't "get rid of folks" because the min wage rises or stays the same. Employees hire and fire workers based on aggregate demand. If a company makes widgets and the state raised minimum wage by 50 cents, is that company going to start laying off workers? NO. That company still has to meet demand.
A rise in min wage puts more money into the lower and working class (when min wage rises, other wages rise too) and they spend more. That spending increases demand for goods and services.
This is just basic economics which you have just failed miserably at.
rubbish. when you force in increase in wages, the business has a few options;
1: they can raise prices
2: they can eat the increased costs
3: they can cut expenses
if they raise prices, and customer demand goes away, they then cut expenses to deal with that, which means a loss of jobs
if the eat the increased costs, depending on their profit margins to begin with, they may start losing money, and again they have to cut expenses, which again means losing jobs.
if they just cut expenses, it means losing jobs.
and a business can also decide to let jobs go as people leave the company, and not replace them. that means lost jobs also, in a more round about way.
to the original premise, i would rather be forced to pay a higher wage than i would health care its costs far less.
rubbish. when you force in increase in wages, the business has a few options;
1: they can raise prices
2: they can eat the increased costs
3: they can cut expenses
if they raise prices, and customer demand goes away, they then cut expenses to deal with that, which means a loss of jobs
if the eat the increased costs, depending on their profit margins to begin with, they may start losing money, and again they have to cut expenses, which again means losing jobs.
if they just cut expenses, it means losing jobs.
and a business can also decide to let jobs go as people leave the company, and not replace them. that means lost jobs also, in a more round about way.
to the original premise, i would rather be forced to pay a higher wage than i would health care its costs far less.
none of this happened when the min wage was higher(in real dollars) in the past.
This doesn't happen in cities with higher min wage. See San Francisco with its $10.50 min wage and low unemployment rate (5.4%).
The good news is here in California our Governor just raised the min wage to $10.
raising the minimum wage is good for the economy. It gives the working and lower class more purchasing power. The extra wages they earn are spent and go back into the economy. This then increases the demand for goods and services which is good for business owners.
To compensate for a rise in minimum wage business's may increase prices. But when people have higher wages those price increases have no affect on consumer spending.
"It's great for the economy because they have a bigger paycheck, and it's ok that prices go up because sales will be the same because they have higher wages."
This is the kind of almost painfully mindless drivel people will say, when instead of thinking, they use emotion to calculate their math.
"It's great for the economy because they have a bigger paycheck, and it's ok that prices go up because sales will be the same because they have higher wages."
This is the kind of almost painfully mindless drivel people will say, when instead of thinking, they use emotion to calculate their math.
mindless drivel eh? I didn't make this argument up. It's a common theory among PhD Economists.
care to explain why you think its faulty logic?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
