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Yes, so wages should not have been stagnant for the past few decades when productivity and profitability have reached record levels. We have alot of making up to do.
I agree that large minimum wages should not be imposed on small American businesses but they should be imposed on nationless corporations-especially ones we bailed out.
I could see using wages as a leveling of the field. In fact, I never thought about that strategy. I wouldn't complain if multi-national companies (Buger King is now one) being forced to raise their base pay, while small mom and pop shops pay a little less to help keep them competitive.
There are unintended consequences for such things though. It would certainly take more than an aha! moment to make such a thing viable, if it's even possible.
Just think about all those corporate hating twenty something's, who would scramble to work for a company they actually despise!
And just how many min wage jobs do you think Goldman Sachs or JP Morgan have ?
Because that is who the Fed bailed out.
Your min wage jobs are at McDonald's and Walmart.
Have you followed McDonald's at all ? Revenue down yet again and US customer traffic has taken a steep blow.
Shares are down near $30/share since May 2014.
Min wage has not been stagnant for decades. It was last raised in the summer of 2009.
so are you saying jp morgan and goldman sachs dont own any large companys that employee minimum wage people? Cause that would surprise me rather a lot....
And just how many min wage jobs do you think Goldman Sachs or JP Morgan have ?
Because that is who the Fed bailed out.
Your min wage jobs are at McDonald's and Walmart.
Have you followed McDonald's at all ? Revenue down yet again and US customer traffic has taken a steep blow.
Shares are down near $30/share since May 2014.
Min wage has not been stagnant for decades. It was last raised in the summer of 2009.
Surprisingly they have MANY jobs at 9-$15 an hour. They have TONS of temps. Those wages need to be raised and we should require them to provide benefits, especially since these are mostly jobs that require College degrees. Yes, Wal Mart is not doing well either. It just goes to show that in an economy that is dictated by consumer spending-people need disposable income or there will be no growth. It's pretty simple.
When the Federal Reserve creates TRILLIONS in new money and 95% of it goes to less than 1% of the population it is common sense that prices will rise and the bulk of people will have less money. There will be no growth as people and institutions hoard money in anticipation of the next crash. The WORKING class spends all they have-the LEECHING class hoards. Right now the LEECHING class has a monopoly on profits. Workers need to realize their worth and become integrated into the economy again, which has been controlled by non-productive leeches for too long.
So $41,600 - $20 hr - is your target living wage? What planet do you all live on?
Plenty of people do hard labor you appreciate everyday but care little for how an item was produced, packaged or delivered into your grimy mitts. i doubt many of them earn $20 hr. However, they earn what the market bears and the market includes you getting a deal on whatever you may be purchasing. Chances are you are overpaid as well. How about cutting the next store clerk you see a check for $500 so the federal government won't have to?
If the productivity trends suggest a higher wage based on what people were paid in the past, I don't see how it is unreasonable.
Quote:
Originally Posted by T-310
They think prices will stay static. Raise the MW, and prices correspondingly go up.
They still lose.
You don't understand inflation. Minimum wage does not cause inflation.
Quote:
Originally Posted by greywar
Got a citation? I can google it, but I suspect you have one handy.
And who says that minimum wage should be based on productivity? Before you can say that minimum wage should be $21/hr based on productivity correlations, you first have to demonstrate that minimum wage should be based on productivity correlations in the first place. Earlier in this thread you accused someone else of using a strawman argument, but your own argument is a fallacy of assumption.
Correct, I am assuming the minimum wage should be a livable wage based on productivity. We all know greed will never let that happen.
Funny how extremist libertarians think humans should cannibalize each other because it is "human nature."
Actually he is referring to the theory in economics that "all other factors being equal, as the price of a good or service increases, consumer demand for the good or service will decrease, and vice versa."
He is of course choosing to ignore the first part of that statement, and the incredibly large body of evidence showing otherwise for minimum wage increases.
Occasionally google is a terrifying thing, leading to dark places.
Haha, it's crazy what you can find by stringing some words together.
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