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Old Yesterday, 05:53 PM
 
Location: Florida
5,350 posts, read 3,075,622 times
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Grade school economics: higher wages increases cost of doing business, employer raises prices, the result is called inflation.

Inflation devalues the dollars that those on fixed income have saved in prior years.

Retirees are forced to switch from eating Alpo to eating store brand.
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Old Yesterday, 06:04 PM
 
4,881 posts, read 963,073 times
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Say that this $15/hour minimum wage got widely implemented! The feminists might still do the women make the ridiculous claim of 77 cents to the dollar a guy makes. So, even raising the minimum might not appease the extreme feminists. Also, the cost of products get increased which helps the producers but not necessarily the consumer!
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Old Yesterday, 06:56 PM
 
Location: Stillwater, Oklahoma
15,205 posts, read 13,426,963 times
Reputation: 4641
Quote:
Originally Posted by engineman View Post
Grade school economics: higher wages increases cost of doing business, employer raises prices, the result is called inflation.

Inflation devalues the dollars that those on fixed income have saved in prior years.

Retirees are forced to switch from eating Alpo to eating store brand.
Then in that case why not advocate cutting the minimum wage to $5.00 an hour? Stand back and watch the job boom. Others will say eliminate minimum wage and stand back and watch how close people are willing to work for ZERO.
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Old Today, 04:43 AM
 
1,344 posts, read 704,088 times
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Quote:
Originally Posted by Neuling View Post
What is decent depends most of all on the local cost of living, especially housing. In other words, I am not for a fixed minimum wage across the country, but for regional ones. ...
Neuling, members of our first constitutional convention understood that some states were able to exert their commercial advantages to the detriment of other states. This was particularly true among adjoining states.

The constitutions commerce clause was enabled by delegates from wealthier states agreeing to sacrifice their own states' advantages. Without such compromises, the constitution would not have been ratified and our nation might not now be existing. That compromise is no less needed now, as it was in 1787.
Quote:
Originally Posted by Supposn View Post
Mircea, the U.S. Congress past an act establishing the federal minimum wage rate as legally applicable to the District of Columbia and all of our states.
The act does not prohibit any state or from enforcing a higher minimum rate within their jurisdictions.

Employers as specified within the federal statutes of the Fair Labor Standards Act and its updates are prohibited from paying employees less than the applicable federal minimum wage rate. The minimum wage rate laws have been sometimes challenged and found to be essentially legal.

The U.S. Congress determined a federal law was necessary to reduce the economic harm that a U.S. State may deliberately or inadvertently inflict upon any other U.S. States.
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Old Today, 04:50 AM
 
Location: Texas
26,938 posts, read 11,310,497 times
Reputation: 6199
Quote:
Originally Posted by Supposn View Post
Minimum wage, a character issue. That's the essence of personal and political opposition to the FMW rate.
The federal minimum wage, (FMW) rate is of net social and economic benefit to our nation. It has never been among the major causes of the U.S. dollarís inflation; on the contrary, itís certainly among inflation's victims.

No employees are poorer and no enterprises suffer any competitive disadvantage to any USA enterprises due to the FMW rate.

[thereís no doubt that USAís higher wage rates are among the causes of our productsí price disadvantages in comparison to products from lower-wage nations; but although the elimination of our minimum wage laws would be greatly detrimental to our nationís net social and economic well-being, eliminating it would accomplish extremely little to remedy our productsí global price disadvantages.]

I suppose most USAís population, (significantly more than a 10% plurality) to some extent approve of federal minimum rateís existence. There are much fewer among wealthy or competent people that are opposed to the federal minimum rate.

A great proportion of minimum rate opponents lack self-esteem. They need whatever affirmation of their own worth that they can derive by being able to look down upon people experiencing lesser financial conditions. They cannot acknowledge even to themselves their fears of improving the financial conditions of others would consequentially reduce their own social status. Thatís the essence of personal and political opposition to the FMW rate.
58% of the workers are on minimum wage. Of those 58% ~2.3% earn minimum wage. Of that 2.3% half are under 25.

"Workers under age 25 represented only about one-fifth of hourly paid workers, they made up about half of those paid the federal minimum wage or less. Among employed teenagers (ages 16 to 19) paid by the hour, about 8 percent earned the minimum wage or less, compared with about 1 percent of workers age 25 and older."


https://www.bls.gov/opub/reports/min.../2017/home.htm


Here's the kicker from that same article
The percentage of hourly paid workers earning the prevailing federal minimum wage or less declined from 2.7 percent in 2016 to 2.3 percent in 2017. This remains well below the percentage of 13.4 recorded in 1979, when data were first collected on a regular basis.

down from 13.4% to 2.3% so now government steps in to save the day after the fact. Same garbage as the War on Poverty.
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Old Today, 05:57 AM
 
1,344 posts, read 704,088 times
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Quote:
Originally Posted by Loveshiscountry View Post
58% of the workers are on minimum wage. Of those 58% ~2.3% earn minimum wage. Of that 2.3% half are under 25.

"Workers under age 25 represented only about one-fifth of hourly paid workers, they made up about half of those paid the federal minimum wage or less. Among employed teenagers (ages 16 to 19) paid by the hour, about 8 percent earned the minimum wage or less, compared with about 1 percent of workers age 25 and older."


https://www.bls.gov/opub/reports/min.../2017/home.htm


Here's the kicker from that same article
The percentage of hourly paid workers earning the prevailing federal minimum wage or less declined from 2.7 percent in 2016 to 2.3 percent in 2017. This remains well below the percentage of 13.4 recorded in 1979, when data were first collected on a regular basis.

down from 13.4% to 2.3% so now government steps in to save the day after the fact. Same garbage as the War on Poverty.
Loveshiscountry, it's inconsequential as to how many workers earn exactly $7.25 per hour.

What's of consequence is more, but no less than the 20th percentile of USA employees earn the extremely lowest USA wage rates that are critically affected by the federal minimum wage rate. The remainder of USA's 40th percentile of lower-wage employees are substantially affected by the federal minimum wage rate.

Republicans prefer pretending the federal minimum wage rate affects less than 3% of USA workers and they're almost entirely school children or retired people that have nothing better to do with their time.
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