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Old 03-28-2014, 10:57 AM
 
Location: Great State of Texas
86,093 posts, read 72,525,560 times
Reputation: 27566

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Quote:
Originally Posted by urbanlife78 View Post
I doubt it, you should ask Acorn, he seems to think it will. I can only assume that is based on the last time it increased.
You asked the question about "the last time".
Why not provide us the data rather than "your feelings" about it ?
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Old 03-28-2014, 10:58 AM
 
Location: Portland, Oregon
46,053 posts, read 29,533,646 times
Reputation: 7830
Quote:
Originally Posted by evilnewbie View Post
What it does is make Connecticut residents a bit wealthier because it offshores the bulk of the production to outside of Connetcticut and ships in everything from out-of-state... a national minimum wage doesn't work because of tariffs and duties... you can't simply outsource production out of the country...
Production jobs are rarely minimum wage jobs. Minimum wage jobs are usually service industry jobs that you cannot ship overseas.
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Old 03-28-2014, 11:00 AM
 
1,825 posts, read 1,212,261 times
Reputation: 539
Quote:
Originally Posted by HappyTexan View Post
No that was the bursting of "asset bubbles" in RE.
This was caused by people buying more homes then they could afford and then not able to pay those ARMS that reset to higher payments.
So, lets go over some moderately advanced economics. When you have a situation where there is a large asset bubble, and those assets are heavily leveraged so much so that some have more debt then they are worth during the bubble prices what happens when that asset bubble bursts?

The answer is all of that money lent against those assets basically goes up in smoke. This has the effect of constraining lending and taking a whole lot of money out of the economy very quickly.

So what does this have to do with deflation. Well inflation/deflation is determined entirely by the ratio of money to goods/services in the economy. When you have more money relative to goods/services you have inflation, when you have less you have deflation. So what do you think the effect of taking a whole lot of money out of the economy would be. OH deflation.

Seriously. Its not that hard to grasp unless you have an inflexible ideological view of the economy in which case you are just dumb, because anyone with even basic economic training will usually admit no one theory explains everything and if you try you are just trying to put square pegs in round holes.
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Old 03-28-2014, 11:00 AM
 
Location: Portland, Oregon
46,053 posts, read 29,533,646 times
Reputation: 7830
Quote:
Originally Posted by HappyTexan View Post
You asked the question about "the last time".
Why not provide us the data rather than "your feelings" about it ?
If I asked the question, then that probably means I don't have the answer or I would have just made a statement and skipped the question.

What proof does Acorn have to say raising the minimum wage in Connecticut is going to make the tax base go out the window?
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Old 03-28-2014, 11:00 AM
 
Location: Calgary, AB
3,401 posts, read 1,920,544 times
Reputation: 1072
Quote:
Originally Posted by T-310 View Post
Anybody making $10 an hour better be single or a spouse that works and have the village raise the child.
Or what? You'll disapprove? Oh dear.
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Old 03-28-2014, 11:01 AM
 
Location: Great State of Texas
86,093 posts, read 72,525,560 times
Reputation: 27566
Quote:
Originally Posted by urbanlife78 View Post
Production jobs are rarely minimum wage jobs. Minimum wage jobs are usually service industry jobs that you cannot ship overseas.
Don't be so smug to think it's not being tested.

McDonald's drive through order takers in close to 50% of their stores are "remote" outsourced help.
Bet you didn't know that.....

I'd narrow it down to "minimum wage jobs are usually service industry jobs that require a physical exertion of the worker"
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Old 03-28-2014, 11:03 AM
 
Location: 15 months till retirement and I can leave the hell hole of New Yakistan
25,335 posts, read 14,052,247 times
Reputation: 6510
Quote:
Originally Posted by urbanlife78 View Post
Did their tax base go out the window the last time they raised minimum wage?
uhm... its been going out the window

remember one thing the biggest industry in CT is INSURANCE

Prized, good-paying manufacturing jobs have been leaving Connecticut for years

United Technologies Corp....dropping its ct employees
Pratt & Whitney....releasing many employees in ct
Sikorsky .....releasing many employees in ct
Pfizer Inc. just reciently laid off more than 1,000 employees at its research and development site in Groton

CT is going through some re-adjusting


•Connecticut ranks #50 – the worst — in annual economic growth. According to the Department of Commerce’s Bureau of Economic Analysis, Connecticut’s economy contracted for the second year in a row. “Connecticut is the laggard,” reported Connecticut Department of Labor economist Daniel Kennedy.

Barron’s considered Connecticut to be in the worst financial shape – with debt and pension liabilities a higher percentage of GDP (17.1) than any other state. The financially strongest state: South Dakota where debt and pension liabilities are only 1 percent of GDP.

•Connecticut has one of the worst business climates in the country. Factors affecting a state’s business climate include the individual income tax, corporate income tax, sales tax, property tax, unemployment insurance tax and security of private property. For example, as the Tax Foundation reported, “Connecticut imposed a temporary 20 percent surtax on top of its flat 7.5 percent corporate income tax, in effect raising its rate to 9 percent. This 20 percent surcharge is an increase on a supposedly temporary 10 percent surcharge that has been in place since 2009.”

•The American Legislative Council, in its annual Rich States, Poor States study, ranks states two ways – economic performance and economic outlook. The economic performance ranking is based on a state’s GDP trend, migration trend (in or out) and non-farm payroll enrollment trend. The economic outlook ranking is based on 15 factors including the top marginal personal income tax rate, the top marginal corporate income tax rate, property tax burden, estate tax burden, public employees per 100,000 population, state liability system survey and whether a state has a right-to-work law. Connecticut is ranked #46 for economic performance and #43 for economic outlook.
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Old 03-28-2014, 11:07 AM
 
Location: Out West
22,759 posts, read 16,836,071 times
Reputation: 26301
Quote:
Originally Posted by urbanlife78 View Post
Seattle is a highly desirable area, I think that has a much greater effect than minimum wage increases.
You are completely clueless. Please, go take a few courses in Economics...

Last edited by CaseyB; 03-28-2014 at 11:28 AM..
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Old 03-28-2014, 11:11 AM
 
Location: 15 months till retirement and I can leave the hell hole of New Yakistan
25,335 posts, read 14,052,247 times
Reputation: 6510
Quote:
Originally Posted by Egbert View Post
100% BS.

As you can see there was clear deflation throughout most of 2009. This was caused by the liquidity crisis, because when bank generated money through loans known as credit dries up there is less money in the economy, this is what happened during the depression and 2009.

Historical Inflation Rates: 1914-2014, Annual and Monthly Tables - US Inflation Calculator

As to the rest it is ad hominim and made up stuff.
the only thing that deflated was housing...everything else....everything else went up

actual cost inflation is up at least 15%

you better go to the store and readjust your numbers

inflation has been near 15% for the last 3 years

look at the prices in the stores

have you benn to the store

prices are going up, and up

coffee is double what it was just 5 years ago in 2008

coffee up

sugar up

cotton up

corn up

all other vegitable up

all meats up

almost everything us up



REAL INFALTION IS CURRENTLY ABOUT 10-15% or more...unfortuantely the government(from either party) doesnt give us the REAL numbers



it certainly is for every working class person or old person

you think that your utility cost being up is not inlation???

you think your medical/pharm costs being up is not inflation???

you think your clothing costs being up is not inflation???

you think your housing (rent and rela taxes) being up is not inflation???


you think food costs going up is not inflation???

you think building supply costs (ie home depot) being UP is not inflation???


almost EVERYTHING we use has gone up by at least 10% to in some cases 30% in the last 3 years...and you are going to tell me inflation is "only 2% or less"



have you been to the store???...have you SEEN THE PRICES???? milk is nearly $4 a gallon...meats have gone though the roof...in 2004 a 3lb can of coffee was about $3...today its a 2.2lb can of coffee and its $10...over a 300% increase in less than 10 years

sorry you are too blind to see

you certainly do prove that the sheeple are out there for the slaughter

so are you going to tell me YOU BELIEVE the government TELLING YOU that inflation is at 0-3% when PRICES in nearly everything have risen 10-20% or more????


the 'inflation rate' is not REAL INFLATION (ie COST inflation) that real americans (and seniors) feel with almost everything we buy

costs are going up on almost everything..especially food (which is NOT counted in the 'inflation rate')


Junk fish called Tauplia which was selling in 2008 for 1.28 a pound is now close to 5.00 a pound...Catfish that averaged between 3.49 and 3.99 at 6.00 plus.... Not just one store, they are all similar in price. Paper towels are highway robbery.....deli ham/turkey which I used to get for 2-4 a pound...now 6-9 a pound


last Thanksgiving,,Sweet potatoes they were 49 cent/pound...now $1.79/pound

breyers icecream HALF GALLON, was (2008) 2for 5...now its 1.5 quarts and its 4/each

Even cooking oil 48 fl oz... went from $2.99 (reg. p about 6 months ago) to $3.69 (sale)... from $4.29 (reg. price).
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Old 03-28-2014, 11:12 AM
 
Location: Great State of Texas
86,093 posts, read 72,525,560 times
Reputation: 27566
Quote:
Originally Posted by urbanlife78 View Post
If I asked the question, then that probably means I don't have the answer or I would have just made a statement and skipped the question.

What proof does Acorn have to say raising the minimum wage in Connecticut is going to make the tax base go out the window?
You seem to be looking for huge changes.

That won't happen.
Small changes will happen like I stated earlier.

2 people will get scheduled for shifts instead of 3.
Full time greeters will disappear and other workers will absorb those duties.
You end up packing your own food at the supermarket more often.


You seem to be looking for headlines of thousands layed off.
That won't happen in min wage jobs.

Walmart, for example, has gone from an average of 338 employees per store in 2007 to an average of 281 employees per store in 2013. That's "only" about 50 employees per store..quite absorbable by Walmart.
But add those 50 employees per store for each Walmart store and you start to get a pretty big number.

So yeah..keep telling us how higher wages don't impact employment because you see no news of "mass firing" going on at these service companies.
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