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Old 07-11-2014, 01:26 PM
 
9,742 posts, read 9,291,174 times
Reputation: 2049

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Quote:
Originally Posted by pnwmdk View Post
LOL!

That's stupid beyond belief. It's false. Math says so, not manipulated "questionaire" results.
Economics is a social science. It's a study of human behavior. We don't use math in determining how people spend money. The question that needs to be asked is how minimum wage workers spend their earnings and then compare that to how a corporation spends its earnings. Only by comparing those two behaviors can we assess the impact of a minimum wage increase.
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Old 07-11-2014, 01:31 PM
 
39,085 posts, read 20,174,054 times
Reputation: 12636
Quote:
Originally Posted by EricS39 View Post
If small biz owners compete on home made quality and good employee morale is an ingredient to produce it, they may have always paid employees more than the OLD minimum wage, and that wage level is still above the new minimum wage.

This means big businesses that paid the OLD minimum wage are directly impacted by the new law, but the small businesses I mentioned above can stick with the same wages they were previously paying.

This means the small businesses also can keep the same prices they were previously charging and if previous large business customers complain their subway footlong got too expensive, they may switch to buying from that small business.
And small business has money growing on trees. Wrong!

With higher taxes and Obamacare Obama has forced businesses, particularly small businesses, to limit the number of hours employees work so that they do not hit the full time threshold which would force those businesses to provide benefits that they often cannot afford.
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Old 07-11-2014, 01:32 PM
 
Location: Palo Alto
12,172 posts, read 6,999,188 times
Reputation: 4174
Nothing prevents them from offering more now.
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Old 07-11-2014, 01:33 PM
 
16,252 posts, read 9,048,621 times
Reputation: 6525
Quote:
Originally Posted by nvxplorer View Post
Forbes is a magazine, with an opinion. It's not an economics course. Those of us who have studied economics understand the demand side of the equation, as do the majority of small business operators, shown in the OP.
"forbes is a magazine"

SERIOUSLY?????????

That is your argument? Forbes is a magazine??? Holy cow dude, car has 4 wheels.

Lord have mercy we have come to this.
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Old 07-11-2014, 01:37 PM
 
16,724 posts, read 14,565,974 times
Reputation: 41100
Quote:
Originally Posted by Versatile View Post
Just a while back we were reading articles about the min wage where republicans swore that it would severely hurt the small business man.

THAT WAS A BUNCH OF HOOEY wasn't it!

Please note that the article said:

Forty-three percent of the respondents identified themselves as Republican



Sixty-one percent of small-business owners with employees say they support increasing the baseline wage in three stages over two-and-a-half years and adjusting it after that to keep pace with increases in the cost of living. That's a finding in a new study from the American Sustainable Business Council and Business for a Fair Minimum Wage.


Forty-three percent of the respondents identified themselves as Republican, while only 28 percent said they were Democrats. Another 19 percent identified as independent.


​Why small biz owners back a higher minimum wage - CBS News
We own a small HVACR business and we don't approve of a higher minimum wage. That's because we already pay our people a decent wage for what they do. People who want more money for a minimum wage job need to go find another, higher-paying job instead.
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Old 07-11-2014, 01:39 PM
 
16,252 posts, read 9,048,621 times
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Quote:
Originally Posted by Memphis1979 View Post
Really, your wrong in most circumstances.

Business owners don't hire help based on how much money they have to pay them. They hire them based on a need due to demand for their product or service. Then if they need the employee to keep up with demand, they raise prices on the consumer.

So the first place anyone would see a minimum wage increase is when they buy a coffee, food, gas, whatever.

The idea behind a minimum wage increase is that it will spur demand, because then more people will have more money, which increases demand, which makes the business owner hire more people.

But all the minimum wage will do, in most cases, is increase the cost of your coffee from 4.87 to 5.00
no really.. I am not wrong in most cases. (see how easy that was?)

Business owners hire people based VALUE. If hiring someone will add value to their busiess.... poof....

raising MW reduces the value of the entry level potential hire making it harder to get hired.


secondly we arent talking about hiring people. we are talking about how much people already hired get paid. so no... im not wrong.


raising MW does not drive demand. It drives inflation which offsets any potental demand, raising wages might have brought.
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Old 07-11-2014, 01:43 PM
 
16,252 posts, read 9,048,621 times
Reputation: 6525
The only thing in the above I disagree with is that Obama has done nothing.

Here is the next little nasty consequence

You raise that MW then those above that have had the value of their work devalued. They aren’t happy. Unions are really NOT happy. They demand raises to offset the lost value...

Then all wages spiral up, costs of everything spirals up and the poor (those who just got those nice raises to the new MW) are actually worse off than before because the wage inflation spiraled and drove real inflation to levels beyond the MW increase....

Oh and those REALLY POOR people that lost their jobs because they didn’t add enough value in the paradigm are sucking rotten eggs....

But hey, the well intenders really really intended well.
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Old 07-11-2014, 01:45 PM
 
9,742 posts, read 9,291,174 times
Reputation: 2049
Quote:
Originally Posted by Ferd View Post
"forbes is a magazine"

SERIOUSLY?????????

That is your argument? Forbes is a magazine??? Holy cow dude, car has 4 wheels.

Lord have mercy we have come to this.
Holy cow, someone else who mistakes agenda driven opinion for an economics class. Yes, it is sad we have come to this.
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Old 07-11-2014, 01:49 PM
 
Location: Sango, TN
24,889 posts, read 20,971,775 times
Reputation: 8620
Quote:
Originally Posted by Ferd View Post
no really.. I am not wrong in most cases. (see how easy that was?)

Business owners hire people based VALUE. If hiring someone will add value to their busiess.... poof....

raising MW reduces the value of the entry level potential hire making it harder to get hired.


secondly we arent talking about hiring people. we are talking about how much people already hired get paid. so no... im not wrong.


raising MW does not drive demand. It drives inflation which offsets any potental demand, raising wages might have brought.
The Job Loss Myth | Raise The Minimum Wage

Care to refute?
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Old 07-11-2014, 01:50 PM
 
26,302 posts, read 12,722,330 times
Reputation: 12538
Quote:
Originally Posted by Ferd View Post
no really.. I am not wrong in most cases. (see how easy that was?)

Business owners hire people based VALUE. If hiring someone will add value to their busiess.... poof....

raising MW reduces the value of the entry level potential hire making it harder to get hired.


secondly we arent talking about hiring people. we are talking about how much people already hired get paid. so no... im not wrong.


raising MW does not drive demand. It drives inflation which offsets any potental demand, raising wages might have brought.
Sooo...immediately after a minimum wage hike we should see increased inflation.
*checks inflation numbers for correlation*

Uhmmm guess what mr "I'm not wrong"?
you're wrong.
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