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Old 02-10-2020, 06:52 AM
 
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instead of raising everybody wages to $15, why not raise those that deserve it
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Old 02-10-2020, 07:29 AM
 
1,499 posts, read 781,915 times
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Quote:
Originally Posted by brownbagg View Post
instead of raising everybody wages to $15, why not raise those that deserve it
BrownBagg, are you questioning the constitutionality of the federal act, or the justification of all minimum wage rate statutes?

If the federal minimum wage rate statutes were eliminated, what are likely to be USA states net detrimental deliberate or unintentional harm to other states' economies? Particularly the consequences between neighboring states? The Constitutional Convention of 1787 addressed such issues and included the commerce clause within our constitution.
Respectfully, Supposn
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Old 02-10-2020, 10:28 AM
 
Location: Willamette Valley, Oregon
4,932 posts, read 1,465,122 times
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Originally Posted by brownbagg View Post
instead of raising everybody wages to $15, why not raise those that deserve it

And how is that determined? Performance evaluations? As a manager, I've used them and evaluated other managers use of them. It can be very arbitrary and capricious. Minimum wage should be the floor that everyone gets whether it is $10/hour or $15/hour. Right now it is $7.25/hour except for about 30 states which have higher minimums. Washington DC is currently $14/hr, Washington state is $13.50/hr. Most of the mid-west and south are lower.
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Old 02-10-2020, 10:53 AM
 
17,905 posts, read 16,074,968 times
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Originally Posted by NJ Brazen_3133 View Post
Even theoretically this wont happen. Not all items are that elastic in price. What in 1870s illustrates your statement?

So a raise will fix this?



https://www.latimes.com/business/la-...215-story.html

Bay Area home prices are out of reach for many middle-income families, but surely if you’re a highly prized engineer at Apple or Google you can afford a house there, right?


...
In short, the value of land depends entirely on the power that ownership gives to appropriate the wealth created by labor. Land value always increases at the expense of labor. The reason greater productive power does not increase wages is because it increases the value of land. Rent swallows up the whole gain.



Henry George 1870s....




Was he right?
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Old 02-10-2020, 01:24 PM
 
5,223 posts, read 1,383,655 times
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Quote:
Originally Posted by gwynedd1 View Post
You cannot raise wages because people with more wages will buy and drive up asset prices making the effective wage what it was before. It has been known since the 1870s.
Yes. With the typical mindset being "spender" mentality, this is inevitable. We can only make economic decisions on behalf of ourselves, unfortunately.
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Old 02-10-2020, 07:12 PM
 
Location: Tijuana Exurbs
4,098 posts, read 10,680,595 times
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I agree that a low minimum wage acts as a drag on the wages of those earning above it.

However, a larger pool of people now unemployed because a higher minimum wage has made their work uneconomic, also acts as a drag on wages.

I don't see your argument actually advancing your cause.

Real demand for labor is what raises wages.
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Old 02-10-2020, 07:16 PM
 
5,223 posts, read 1,383,655 times
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Originally Posted by kettlepot View Post
I agree that a low minimum wage acts as a drag on the wages of those earning above it.

However, a larger pool of people now unemployed because a higher minimum wage has made their work uneconomic, also acts as a drag on wages.

I don't see your argument actually advancing your cause.

Real demand for labor is what raises wages.
It seems like movements such as "teach kids to code" are trying to make sure this never happens.
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Old 02-11-2020, 01:17 AM
 
7,600 posts, read 7,088,021 times
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Quote:
Originally Posted by gwynedd1 View Post
So a raise will fix this?



https://www.latimes.com/business/la-...215-story.html

Bay Area home prices are out of reach for many middle-income families, but surely if you’re a highly prized engineer at Apple or Google you can afford a house there, right?


...
In short, the value of land depends entirely on the power that ownership gives to appropriate the wealth created by labor. Land value always increases at the expense of labor. The reason greater productive power does not increase wages is because it increases the value of land. Rent swallows up the whole gain.



Henry George 1870s....




Was he right?
From your article, the value of the land has nothing to do with MW increase. The value of land will increase regardless of MW increase or even no MW. That is still not a reason to have or not have MW or MW increase.

Rents are usually locked in for a year, and there is welfare to help pay for rent. If you earn MW in the Bay Area, then likely you are on housing welfare, or splitting costs (roommates, living w/parents). MW increase can surely help with that. If MW never increases, yet RE keep on, then without a doubt life will keep getting harder and harder.

Plus that is why we have laws like MW. Owners can keep appropriating all wealth generated by labor. We need regulations to somehow distribute that wealth back to labor, or else we are all just serfs.
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Old 02-11-2020, 10:26 AM
 
17,905 posts, read 16,074,968 times
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Quote:
Originally Posted by ddm2k View Post
Yes. With the typical mindset being "spender" mentality, this is inevitable. We can only make economic decisions on behalf of ourselves, unfortunately.

The problem is the supply. Can always make more widgets. Economic rents tend to be fixed.
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Old 02-11-2020, 10:36 AM
 
17,905 posts, read 16,074,968 times
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Quote:
Originally Posted by NJ Brazen_3133 View Post
From your article, the value of the land has nothing to do with MW increase. The value of land will increase regardless of MW increase or even no MW. That is still not a reason to have or not have MW or MW increase.

Rents are usually locked in for a year, and there is welfare to help pay for rent. If you earn MW in the Bay Area, then likely you are on housing welfare, or splitting costs (roommates, living w/parents). MW increase can surely help with that. If MW never increases, yet RE keep on, then without a doubt life will keep getting harder and harder.

Plus that is why we have laws like MW. Owners can keep appropriating all wealth generated by labor. We need regulations to somehow distribute that wealth back to labor, or else we are all just serfs.



That wages have nothing to do with real estate valuations would be where in the article?
These days even high-paid tech workers — the very people often blamed for driving up home prices — have to stretch to buy a house, according to a study by Los Angeles real estate start-up Open Listings.

Do you think minimum wages have anything to do with other wages? Do you think that people will be happy to work close to the minimum wage for greater hazards, responsibilities and expense to maintain their employable status? I'll sell T-shirt on the beach for 300k a year rather than waste my time and expense in medical school. How about you?




The solution will be to increase other wages.
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