Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
You’ve heard of inflation, yes? $2.91 in 1968 would be worth nearly $21 today and $3.96 would be worth $28.20.
Just to be clear, the Federal minimum wage was raised from $1.40 to $1.60 in 1968. Years 1968-1969 are considered to be when the minimum wage reached its peak (inflation-adjusted) purchasing power. So the worker earning $2.91 in 1968 was being paid 82% higher than the newly increased Federal minimum wage. The worker being paid $1.60 in 1968 would need to be making $11.40 in 2017 to have kept pace with that 1968 peak minimum wage.
I always told the kids when they said "Daddy, that's not fair!" I replied, "The fair is in September and it's too far and we're not going again this year."
A guaranteed minimum wage that does not fit market conditions will jack up prices which will result in all wages rising and increasing inflation. So the minimal wage earner ends up in the same hole with steeper sides.
There actually are very few people working at the minimum wage **. If that target is raised then more people will be held to that level than will rise to meet it and that will net out as higher unemployment or lower wages in the bottom tier. We already see more workers held to fewer hours so as to not be covered by minimums.
But its ok when cry baby buisness owners say its not fair that voters raised minimum wages again? Buisness owners are the biggest cry babies there are if the political climate is not going their way they cry the loudest and hardest and stomp their feet make empty threats about moving all "their" assets to bengladesh or where ever, its quite comical actually.
Oh yea and they tie stuff up in court for ever crying and whining in front of a judge until they get their way.
I am all for automation but when the rubber meets the road companies are too cheap and greedy to ever implement very much automation, they like to use it as a dishonest scare tactic that they either cant or are not willing to actually deliver on because in reality they dont like the price tag on the robot or the cost of upkeep. And automation is not really coming down in price because its highly complex and people that can do it would rather leave it on the bench than give it away (at least i would) or demand 25% of the companies sales right off the top and if they go bankrupt or cant meet a ceritan minimum dollar amount I take all my equipment back.
I'm curious.
If minimum wage was raised by $5 (which is about 50% what it is now), what about all those who are making $15 an hour now with college degrees in entry level specialized positions? They won't get a $7.50/hour raise. They will be making the same as those in positions that do not require special skills or education. Is this fair?
I'm very open to hearing differing opinions without getting into an argument.
What do you think YOU'RE worth?
I'd like this to be an open discussion with no attacks or party-blaming (dems/reps)
In the current economy at about $9-10 an hour as minimum wage, I'd say I'm probably worth $21 an hour.. With a specialized masters and a license to practice therapy. Second year out of school.
What makes corporate executives think they are worth $10,000 an hour? Is that good for all? $100 an hour is 1% of that, $15 is 0.15% of that. Should execs be paid about 700 times that of the hard workers?
If employers don't pay enough, they could find themselves with no employees. If someone has a college degree that helps an employer make more, they should be paid above minimum wage.
Also I think minimum wage should be based on house mortgages and apartment rents in local area. So, if I could get an apartment for $400 a month, I wouldn't insist on $30K annually. But if in a huge metro, apts. would be $1,000/mo+ & homes $700K+ w/mortgage. My total income is barely above $750 a month, so there are many places I can't live. Best wishes to all.
Where do all of you people favoring the highest possible minimum wage and complaining about business and companies and private enterprise work, anyway?
I'd say for me about $30. Almost 40 years experience working on everything from 300 ft warships to scale models. And I mean everything. I make slightly less than that now but I like my work so i can live with that. There's an element of misery too. I spend a lot of time in mud cold and rain.
The problem we're facing though is wages that are not keeping up with the cost of living. I live well. Many people I know are struggling even though they work hard and are smart about life. The system is out of balance. I remember in the 70s America bragged about how we would help the 3rd world rise up to where we were. It's not going that way, the 3rd world is here.
I think one thing that would help us immensely would be for government to compete with the realestate industry. The cost of housing is way out of control. Cut the rents by a third and see what happens.
Absolutely. I was listening to a segment on the John Bachelor show the other day. Warmer states like California are getting influxed with hordes of homeless coming from elsewhere. There are tent cities going up. Diseases that were once rare have returned. The city has to steam clean the streets daily because of all the homeless defecating on the sidewalks and spreading diseases like hepatitis. If this isn't the third world, I don't know what is.
Why do you think elites like Elon Musk want to move to Mars? They want to get the hell out of dodge before the state confiscates a great deal of their wealth to redistribute to the starving masses.
I am all for automation but when the rubber meets the road companies are too cheap and greedy to ever implement very much automation, they like to use it as a dishonest scare tactic that they either cant or are not willing to actually deliver on because in reality they dont like the price tag on the robot or the cost of upkeep. And automation is not really coming down in price because its highly complex and people that can do it would rather leave it on the bench than give it away (at least i would) or demand 25% of the companies sales right off the top and if they go bankrupt or cant meet a ceritan minimum dollar amount I take all my equipment back.
I don't agree. As technology improves the products get cheaper over time. The first battery powered calculators in the 1970's were hundreds of dollars and now much smaller and better ones can be purchased for under a dollar. Translate that into today's technology and you can see where this is headed.
Obviously you are anti business what the blanket statement that companies are cheap and greedy but besides the initial investment which can be financed over time at cheap interest rates the cost savings of all the expenses associated with hiring and paying someone will win out.
I don't know if you have ever managed employees who were paid at the minimum wage level but besides the obvious costs you have the time it takes management to screen and interview applicants, train them just to have them quit or get fired a short time later. Not having to deal with that whole scenario would be a boon for business.
But its ok when cry baby buisness owners say its not fair that voters raised minimum wages again? Buisness owners are the biggest cry babies there are if the political climate is not going their way they cry the loudest and hardest and stomp their feet make empty threats about moving all "their" assets to bengladesh or where ever, its quite comical actually.
Oh yea and they tie stuff up in court for ever crying and whining in front of a judge until they get their way.
Were you beat up or picked on as a child or did this victim mentality develop as an adult?
I don't agree. As technology improves the products get cheaper over time. The first battery powered calculators in the 1970's were hundreds of dollars and now much smaller and better ones can be purchased for under a dollar. Translate that into today's technology and you can see where this is headed.
Obviously you are anti business what the blanket statement that companies are cheap and greedy but besides the initial investment which can be financed over time at cheap interest rates the cost savings of all the expenses associated with hiring and paying someone will win out.
I don't know if you have ever managed employees who were paid at the minimum wage level but besides the obvious costs you have the time it takes management to screen and interview applicants, train them just to have them quit or get fired a short time later. Not having to deal with that whole scenario would be a boon for business.
I used to be a co-manager of a grocery store, and believe me one of the biggest expenses was employee turnover. Not only that, but the employees would steal left and right before they quit/fired. Having some method to automate those employees away like you said, would have eliminated many headaches and save a lot of money.
Keep in mind too, the grocery business has razor thin margins. We could only afford to pay someone so much before labor dollars put us in the red.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
