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It was a generalized statement, I notice so many conservatives when talking about these minimum wage threads all seem to pretend they own a business and that they all pay their employees well above minimum wage, but somehow the minimum wage effects their high paid employees.
Minimum wage affects everyone including the bottom line, people looking for work, people employed at all wages and people retired living on a fixed income. Too bad that's far too complex for the left-wing fanatics.
America had a strong middle class with decent median wages relative to prices from about 1940-80.
The reasons were - 1. WWII industrial production 2. A post war industrial economy where all competitor industrial nations were flattened 3. Very little immigration. 4. Strong work ethics.
The only one of those conditions that COULD be duplicated is #3.
Yet raising minimum wage hasn't been a "jobs killer." Minimum wage raises can't even keep up with the rate of inflation, which I have already shown you a chart that proved that one.
And the rate of inflation was a basis to increases the likelihood that people would be able to keep their jobs as other countries increased their standard of living. Think about it... Your wages erode so that you don't go into complete depression as 4th world, 3rd world and 2nd world states move from obscurity into meaningful states on a global scale.
Show me anything that correlates offshored jobs with raising minimum wage. Personally, I don't want our country to be in a race to the bottom of wages.
Minimum wage affects everyone including the bottom line, people looking for work, people employed at all wages and people retired living on a fixed income. Too bad that's far too complex for the left-wing fanatics.
I'm for increasing the minimum wage as it is a greater incentive to invest in further automation/AI/robotics.
At the end of the day, even as Lloyd blankfien, goldman ceo/chairman, recently said - we don't have a production problem, we have a distribution problem when it comes to wealth/income in this country.
in a post-scarcity world, where labor is an input that just isn't required in large numbers, we as a society will have to tackle how to structure and shape the fruits of productivity.
50 years from now, we'll either be living in a dystopian neo-feudal society or it'll be more egalitarian with things like basic income for all citizens, etc.
And the rate of inflation was a basis to increases the likelihood that people would be able to keep their jobs as other countries increased their standard of living. Think about it... Your wages erode so that you don't go into complete depression as 4th world, 3rd world and 2nd world states move from obscurity into meaningful states on a global scale.
So what does raising the minimum wage do?
*snickers*
So you think the value of people's wages are worth less to prevent depression? Minimum wage helps those that are at the lowest pay scale gain more buying power to help them with what is directly needed.
Once again, you are telling me companies havent offshored jobs to other countries with lower labor costs?
I never said that... I said they didnt offshore jobs due to minimum wage increases. As soon as companies realized they could get the same product for 1/5 of the cost it was a wrap.
I would love to know why you keep talking about offshoring jobs. Minimum wage jobs arent offshored... and those who lost jobs due to offshoring have to compete for jobs whether minimum wage is $4 or $14.
Increasing the minimum wage will put more money into consumerd hands.. this isnt about gaining on the big boats, its about keeping their heads above water.
I never said that... I said they didnt offshore jobs due to minimum wage increases. As soon as companies realized they could get the same product for 1/5 of the cost it was a wrap.
I would love to know why you keep talking about offshoring jobs. Minimum wage jobs arent offshored... and those who lost jobs due to offshoring have to compete for jobs whether minimum wage is $4 or $14.
Increasing the minimum wage will put more money into consumerd hands.. this isnt about gaining on the big boats, its about keeping their heads above water.
Apparently he thinks that some guy in India can phone in his coffee order.
So you think the value of people's wages are worth less to prevent depression? Minimum wage helps those that are at the lowest pay scale gain more buying power to help them with what is directly needed.
Unless they don't have a job. The FR was created to control economic turmoil in 1913 when other world powers were gaining strength after a relatively unchallenged time of American power. You think the GD occurred because the stock market crashed? You'd be wrong, it occurred because of an excess of labor due to the electromechanical revolution. The only thing that saved America was WW II.
You're no longer being saved by being the lone industrial complex still intact after WW II and it's been that way since the 70's. Raising the minimum wage is stupid knowing you have surplus labor and you're competing with countries that quite frankly make most of your new entrants look like habilis.
Anyways, I don't really care how heart felt your intentions are. You have zero proof that a bleeding heart has helped you stay in your liberal bubble and everything you point to as proof that you've saved America is facing economic turmoil as you refuse to even look at how you're going to pay for it over the long term. Maybe you missed the Dec. CBO report that says your going to be taxing more than ever and in the next 11 years the US economy will still increase its debt to GDP ratio to 100% because you still haven't told anyone how you're going to pay for your welfare state.
I know, let's do something stupid and raise the minimum wage because Jimmy Carter era labor force participation rates were too good and we need something like 1930's LFPR. Never mind how that affects your ability to pay for that welfare state you already can't pay for...
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