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Old 12-01-2016, 07:23 AM
 
7,704 posts, read 4,564,490 times
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Quote:
Originally Posted by kat in aiken View Post
Since trump didn't actually say 'minimum wages are too high. We can't compete', he said 'wages are too high. We can't compete'. the same people who say that the MSM prints lies about trump, are putting words in his mouth. He didn't distinguish between levels of wages, he said 'wages are too high'. So, it is impossible to 'agree with' what he said on minimum wage, because he didn't say it. He wasn't really talking about minimum wage, he was talking about factory wages.

On to the argument over whether wages are too high or not...

If you look at the typical pay of a factory worker, since that is really what trump was talking about, US wages are high in comparison to factory wages in other countries. But, on the other hand, the cost of living in the US is higher than in other countries.

To be competitive with factory jobs, either the rest of the world has to raise wages, or the US has to lower wages. Which solution is better? Alternatively, the US can bring back manufacturing, and use a lot of robots to keep costs down. That wouldn't bring back jobs, tho.

I agree that CEOs are grossly overpaid. But, I sincerely believe that trump is not interested in doing anything to make CEO pay more reasonable.
Exactly. How does the wage we pay people to change bed pans or flip burgers make give us a competitive disadvantage in the global economy? It doesn't, because we don't compete with China or Bangladesh in retail and food-service.

Trump is speaking, specifically, on those things which can be outsourced; manufacturing, IT and the like. These are jobs that don't pay minimum wage.
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Old 12-01-2016, 07:35 AM
 
Location: 15 months till retirement and I can leave the hell hole of New Yakistan
25,324 posts, read 14,041,763 times
Reputation: 6504
Quote:
Originally Posted by gladhands View Post
Because he did:

http://www.nytimes.com/politics/firs...-are-too-high/

How does this jibe with his promises to help the US working-class?
actually in a way he is correct

why because of government directed inflation


median annual household income 1970 ..... $7600
median annual household income 1980 ..... $16700
median annual household income 2016.....$56,500
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Old 12-01-2016, 07:37 AM
 
769 posts, read 596,430 times
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Quote:
Originally Posted by kat in aiken View Post
I agree that CEOs are grossly overpaid. But, I sincerely believe that trump is not interested in doing anything to make CEO pay more reasonable.
McDonald's isn't going to collapse because an employee in the middle of Montana misbehaves. However if the CEO misbehaves it could bankrupt the whole company. So, no I don't think CEO's are overpaid. People flipping burgers probably think I'm overpaid for sitting in a nice comfy chair working on a computer all day.
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Old 12-01-2016, 10:19 AM
 
5,141 posts, read 2,602,011 times
Reputation: 6551
Quote:
Originally Posted by WaldoKitty View Post
That's because the context was the minimum wage. Anyone who listens the the entire debate instead of that cherry picked video, knows this.
Min wage of 7.75 is too high?
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Old 12-01-2016, 10:31 AM
 
Location: 15 months till retirement and I can leave the hell hole of New Yakistan
25,324 posts, read 14,041,763 times
Reputation: 6504
Quote:
Originally Posted by MetroWord View Post
Min wage of 7.75 is too high?
1. there should NOT be a FEDERAL min wage..... there are over 1500 cost of living areas(economies) within the USA

2. the federal min wage is right on target with inflation

here is the ACTUAL historical min wage chart, form the ACTUAL government (DOL (dept of labor)
Minimum Wage - Wage and Hour Division (WHD) - U.S. Department of Labor

here is the ACTUAL todays dollar calculator from the ACTUAL government (BLS (bureau of labor and statistics )


Inflation Calculator: Bureau of Labor Statistics

as you can see in 1938(when min wage started) the min wage was .25 (25 cents)...in todays dollars(2016) it is 4.29

as you can see in 1950 the min wage was .75 (75 cents for those that don't understand decimals) in todays dollars it is 7.52

as you can see in 1961 the min wage was 1.00 (1 dollar) in todays dollars it is 8.08


min wage 1970..... $1.45..........in todays dollars......$ 8.91(2015)


as you can see in 1984 the min wage was 3.35 in todays dollars that is 7.79

so by government standard....it has kept close to even with inflation
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Old 12-01-2016, 11:00 AM
 
36,893 posts, read 16,093,653 times
Reputation: 8384
Quote:
Originally Posted by WaldoKitty View Post
I think CEOs get paid far too much.

With that said, I agree with Trump on the minimum wage.
"I think CEOs get paid far too much. "

Of course you do, because YOU can't make as much.

I smell a HUGE lot of jealousy.
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Old 12-01-2016, 11:33 AM
 
7,704 posts, read 4,564,490 times
Reputation: 8418
Quote:
Originally Posted by Quick Enough View Post
"I think CEOs get paid far too much. "

Of course you do, because YOU can't make as much.

I smell a HUGE lot of jealousy.
CEO's make way too much money, and I'm going to give you a sound CAPITALIST explanation of why:

I'm sure you agree that a CEO's responsibility is to generate revenue and value for the company's owners; the shareholders. Right now, we've come to a place where executive compensation is out of line with shareholder interests. This is because Boards of Directors are more interested in propping up their peers; the global business elite. The CEO of one company is on the board of directors at another, and vice versa. This inter-connectivity allows these people to enrich themselves and their peers, at the expense of the actual OWNERS of the companies. Large institutional sharehoders, like state pension funds are the real owners of these businesses, but very little is actually done in their direct interest.

https://hbr.org/2016/04/how-corporat...nect-in-charts
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Old 12-01-2016, 02:12 PM
 
Location: Keosauqua, Iowa
9,181 posts, read 16,649,166 times
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Quote:
Originally Posted by Fox Terrier View Post

If the minimum wage had kept up with inflation there would not be so many problems.
If the minimum wage had kept pace with inflation since it's inception (25 cents in 1938) it would now be $4.29. So I don't think that's the problem.
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Old 12-01-2016, 02:24 PM
 
2,780 posts, read 881,579 times
Reputation: 4144
Quote:
Originally Posted by gladhands View Post

Geez, there you go with PROOF again ! He might have said that wages were too high, but that is not what he meant.
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Old 12-02-2016, 05:30 AM
 
36,893 posts, read 16,093,653 times
Reputation: 8384
Quote:
Originally Posted by gladhands View Post
CEO's make way too much money, and I'm going to give you a sound CAPITALIST explanation of why:

I'm sure you agree that a CEO's responsibility is to generate revenue and value for the company's owners; the shareholders. Right now, we've come to a place where executive compensation is out of line with shareholder interests. This is because Boards of Directors are more interested in propping up their peers; the global business elite. The CEO of one company is on the board of directors at another, and vice versa. This inter-connectivity allows these people to enrich themselves and their peers, at the expense of the actual OWNERS of the companies. Large institutional sharehoders, like state pension funds are the real owners of these businesses, but very little is actually done in their direct interest.

https://hbr.org/2016/04/how-corporat...nect-in-charts
"Right now, we've come to a place where executive compensation is out of line with shareholder interests."

Hey, people are entitled to their own OPINIONS.

That does NOT mean that EVERYBODY agrees with them.
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