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Old 02-25-2016, 05:36 PM
 
3,792 posts, read 2,387,385 times
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Quote:
Originally Posted by le roi View Post
I find it amusing that such a pointless OP spawned 11 pages.
Yes but...


How do you get inflation in a deflationary macro economic environment? How do you end The Great Depression without Hitler?


Good questions as we are looking at how to solve the same problems. So $15hr minimum wage is a good starting place. But we need to shock the system to get it to change.
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Old 02-25-2016, 06:12 PM
 
2,560 posts, read 2,303,897 times
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Quote:
Originally Posted by Elliott_CA View Post
The best argument for $15/hour is that it would save taxpayers billions of dollars. When wages are too low, the working poor qualify for SNAP cards, EITC tax credits, housing vouchers, and other government assistance. These benefits are means tested, which means the higher the wage, the fewer in government benefits the low wage earner qualifies for.

Opponents say that increasing the minimum wage to $15/hr will increase unemployment and trigger inflation. In those cities and states who have increased minimum wages, there has been little or no sign of either. In King County, WA (Seattle), which has a $15/hr minimum, unemployment declined to 3.3%, a 7-year low.

The Repubs in Congress who vote against raising the federal minimum wage are actually voting to INCREASE public dependence of government aid programs, and voting to INCREASE welfare and assistance expenditures. If they really want smaller government, a good place to start is through a minimum wage that people can live on without needing government help.
You don't understand economics.
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Old 02-27-2016, 01:45 PM
 
10,513 posts, read 5,171,947 times
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Quote:
Originally Posted by Burkmere View Post
You don't understand economics.
I may be an armchair amateur economist but when I advocate raising the minimum wage, I am in good company:

Seven Nobel Economists Endorse a $10.10 Minimum Wage
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Old 02-27-2016, 04:08 PM
 
Location: London
12,275 posts, read 7,147,065 times
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If minimum wage was lowered and corporate taxes were lowered, there'd be less incentive to ship jobs overseas.
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Old 02-27-2016, 04:41 PM
 
3,792 posts, read 2,387,385 times
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Quote:
Originally Posted by ohhwanderlust View Post
If minimum wage was lowered and corporate taxes were lowered, there'd be less incentive to ship jobs overseas.
Or if we put pressure on them to pay their overseas workers US minimum wage then there wouldn't be an incentive to move jobs over there.
Tax the principle on debt.
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Old 02-28-2016, 05:53 PM
 
6,773 posts, read 5,494,467 times
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I haven't read EVERY last post, enough to know that there are vastly differing opinions, some based on facts with documentation,others just based on past experience, and some just opinions.

And like the Movie WAR GAMES....where the computer plays a war game between Russia and the USA...it comes to the final conclusion "the only way to win the game is to not play the game".

Let's leave ambition, education, trades learning aside for a minute, as many will default to that argument, but FAIL to see that if there were NO janitors to clean up after THEM, and NO fast food workers, or waitstaff, or cooks in the kitchen, they would NOT have a place to eat while traveling or for "dining out" on a whim...IF those jobs did not exist, and condemning everyone who works the to a life of only poverty is NOT really productive, as there WOULDN'T be anyone who would work those jobs for those who condemn them, yet ENJOY their services!
ALso condemning them to a life of poverty, as pointed out, only serves to make them use government services for everything from eating now, to SS for retirement in the years to come causing a rise in taxes on those who DO use those services/goods and are "ambitious", yet would never think of flipping a burger they'd like to eat, except on a Sunday afternoon's BBQ with family/friends. The wealthy clean their OWN TOILETS? I think NOT!

I USED to think they should raise the minimum wage. It was often the only way some people would get a raise. Now I think differently. The minimum SHOULD NOT be raised, but the market should bear the cost of living for each area, and pay an appropriate wage to at least survive, eat, transport to the workplace, and save a few pennies for retirement.

Now, blanketing everyone in a whole state to the same minimum doesn't work if it costs $2000/m to rent a bare room in a rooming house in BIG CITY, USA STATE, but only $400 to rent a 3 BR house in HICKTOWN, SAME USA STATE, it would only reason that BIG CITY should pay more. I commented in another thread about how UNREASONABLE it was that a company was willing to pay the SAME RATE to Expensive BAY AREA workers as they were to the CHEAPER COL site in Phoenix, AZ. Makes no SENSE. SO areal wages should happen.

The second thing, is, if minimum was STILL at a rate of, say, $1.65 as it may have been in years past, NO ONE in their right mind today, even while starving, would take a job that would take 4 to 5 hours of an 8 hour day's pay to buy a meal deal at the Fast food restaurant. So Pay WOULD have to increase on it's own as if NO One takes a job, and the job goes wanting for lack of pay scale, the employer would be forced to pay more to attract workers to fill even the minimalist list of employees to operate the place. It doesn't behoove an employer to "cut off their nose to spite their face" and chop the workforce to such a a bare bones force that cannot adequately runt he establishment, Law of diminishing returns comes to mind! ONly with adequate staffing can the business operate effectively to serve who? It's customers who demand a certain level of service/goods! SO to assume that many jobs will all be lost is a fallable argument, as far s the necessary staff needed to operate.
RObots and machines can ONLY do so much in personal services of goods and services....I'd like to see a toilet-cleaning robot! {It MAY come yet}
.
I remember when I went to a resort area to work, the employers of all types of businesses and all types of jobs {service/retail/restaurants of all types} were trying to out-do each other during a boom market to have a breathing body fill a position with higher wages, sign on bonuses,and even child care reimbursements, PLUS benefits, yes, even in the fast food industry there. I got offered a job of varying hours, pay rates, and benefits to every place and every job to which I applied. I naturally selected the 2 best, highest paying, full time positions I was offered {I have always be a two job person until recently}, FOR ANY TYPE OF JOB I APPLIED.

NO, DON'T raise the minimum blanketly, let each market pay a REASONABLE wage, allowing for a basic standard of living, eating and saving for retirement so as to NOT be a burden to the system at any time in life. They won't be driving a brand new $50k car, but a used $15k should be within their grasp, especially if needed for transport to the job they need.
The Ambitious can feel good about themselves as they will remain in a station of life in which they CAN buy the $50k new car, and save a vast amount more for a more comfortable retirement, AND still be able to afford to eat in an establishment where the food is good, the service impeccable AND the restrooms needed after the meal is consumed, is CLEAN-all by the "lowly workers" they despise so much..
The ambitious can also feel good about the fact that they KEEP more of their earnings, pay less taxes, as those "beneath them" DO make enough so as to NOT need taxpayer sponsored government services, now to survive or in the future when unable to any longer work!!!

It only takes some common sense to figure out a few things, no special education in fancy statistics or economics-much of which is theory anyway, and not necessarily provable in real world applications with real people involved. I remember Economics 101: {the theory of} Guns and butter lessons!

SO DON'T raise the Federal Minimum, the states {many of them anyway} already see the value in paying minimum wages or LIVING WAGES in tune to their each own economic state. Let each MARKET within each state set it's own pace for a LIVING WAGE to be in line with the COL.
AND the costs to the consumer needn't rise astronomical whilest making that elusive but real modus operandi: PROFIT!

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Old 02-29-2016, 10:11 AM
 
3,792 posts, read 2,387,385 times
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Nice rant
Quote:
Originally Posted by galaxyhi View Post
...
The second thing, is, if minimum was STILL at a rate of, say, $1.65 as it may have been in years past, NO ONE in their right mind today, even while starving, would take a job that would take 4 to 5 hours of an 8 hour day's pay to buy a meal deal at the Fast food restaurant.
...
Back in the day in China a rickshaw driver wasn't paid enough money to buy enough food to keep him/her alive. Un-interfered with, supply and demand for labor, tends to leave people working for less than enough to keep them alive.


Upping the minimum wage can be used to push the median wage, as long as you also push for full employment.
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Old 02-29-2016, 10:23 AM
 
18,549 posts, read 15,598,983 times
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Quote:
Originally Posted by ContrarianEcon View Post
Or if we put pressure on them to pay their overseas workers US minimum wage then there wouldn't be an incentive to move jobs over there.
Tax the principle on debt.
We do not need another foreclosure crisis...
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Old 02-29-2016, 10:29 AM
 
3,792 posts, read 2,387,385 times
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Quote:
Originally Posted by ncole1 View Post
We do not need another foreclosure crisis...
Upping foreign wages is a cheep way to get inflation. Wages going up makes bad loans good. Full employment makes bad loans good. Knowing wages will be higher tomorrow gets money spent today.


We are headed into another foreclosure crisis, credit card delinquencies are up quarter on quarter 2 quarters in a row for the first time from 2009 until now, the last time they stopped dropping and started climbing was 2nd & 3rd qt 2007.
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Old 02-29-2016, 07:49 PM
 
10,513 posts, read 5,171,947 times
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Quote:
Originally Posted by ohhwanderlust View Post
If minimum wage was lowered and corporate taxes were lowered, there'd be less incentive to ship jobs overseas.
Been there done that. Trickle down supply side has been tried before, didn't work then and won't work now.
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