U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-09-2020, 08:40 AM
 
1,498 posts, read 781,078 times
Reputation: 394

Advertisements

A poor minimum drags on the median wage rate.

Due to employers’ wage differential practices, the minimum wage rate’s effects upon USA’s lowest earning 40 percentile of employees’ wage rates, range from a critical to a substantial portion of their jobs’ wage rates.

Minimum wage’s insufficient purchasing power is detrimental to the purchasing power of the median rate. Our middle-income bracket’s economy cannot be robust, if our minimum wage rate’s purchasing power’s poor.

Respectfully, Supposn
Quote:
Originally Posted by Supposn View Post
H.R. 582, “Raise the wage act” is a good bill, but opponents of the bill will refrain from mentioning the minimum hourly rate will not be $15 until 7th year after the bill's passage.

In the likely case that it's not passed through and added to our federal statutes, I urge U.S. Congressional members to continue striving and pass a bill that would increase the minimum wage rate by 12.5% of its purchasing power until it attains 125% of its February-1968 purchasing power. Thereafter the rate should be monitored and annually adjusted to retain that purchasing power.
Reply With Quote Quick reply to this message

 
Old 02-09-2020, 09:11 AM
 
17,904 posts, read 16,070,803 times
Reputation: 6525
Quote:
Originally Posted by Supposn View Post
A poor minimum drags on the median wage rate.

Due to employers’ wage differential practices, the minimum wage rate’s effects upon USA’s lowest earning 40 percentile of employees’ wage rates, range from a critical to a substantial portion of their jobs’ wage rates.

Minimum wage’s insufficient purchasing power is detrimental to the purchasing power of the median rate. Our middle-income bracket’s economy cannot be robust, if our minimum wage rate’s purchasing power’s poor.

Respectfully, Supposn

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.
Reply With Quote Quick reply to this message
 
Old 02-09-2020, 09:50 AM
 
76,411 posts, read 75,793,858 times
Reputation: 53676
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.
exactly ...you cannot raise wages to cure price increases from shortages or demand ....stop the over use or increase supply and problem solved .

we saw that with oil which sold for almost 3x the price it does today more than a decade ago
Reply With Quote Quick reply to this message
 
Old 02-09-2020, 10:22 AM
 
1,498 posts, read 781,078 times
Reputation: 394
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.
Gwynedd1 & Mathjak107:
Quote:
Originally Posted by Supposn View Post
The minimum wage rate is not among the primary drivers of the U.S. dollar’s inflation:

There are comparatively few goods or service prices or costs that are entirely attributable to the prices of labor and the minimum wage rate does not affect all wage rates equally.
The minimum rate’s proportional effect upon a product’s price is dependent upon the proportion of the price that’s attributable to direct or indirect labor, and the proportional differences between those labor costs that are attributable to higher or lower wage rates.

That’s why the minimum wage rate has never been among the primary drivers of U.S. dollar’s inflation. Inflation occurs even when the minimum wage rate has not been increased.
Respectfully, Supposn
Reply With Quote Quick reply to this message
 
Old 02-09-2020, 11:28 AM
 
1,498 posts, read 781,078 times
Reputation: 394
Quote:
Originally Posted by mathjak107 View Post
exactly ...you cannot raise wages to cure price increases from shortages or demand ....stop the over use or increase supply and problem solved .
we saw that with oil which sold for almost 3x the price it does today more than a decade ago
Mathjak107, few of us knew; we believed the fake news attributing global petroleum’s sharply spiking price increases as due to organized Middle-Eastern nations exerting their economic and political influence. You now reveal it was all the fault the guys stocking the supermarket shelves.

Do you really believe a USA federal minimum wage increase upset the entire global petroleum markets?
Respectfully, Supposn
Reply With Quote Quick reply to this message
 
Old 02-09-2020, 09:20 PM
 
19,918 posts, read 14,552,863 times
Reputation: 15292
Why do you start multiple threads to simply cross reference your posts in each of them?
Reply With Quote Quick reply to this message
 
Old 02-09-2020, 09:59 PM
 
7,591 posts, read 7,085,195 times
Reputation: 3521
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.
Even theoretically this wont happen. Not all items are that elastic in price. What in 1870s illustrates your statement?
Reply With Quote Quick reply to this message
 
Old 02-10-2020, 12:44 AM
 
1,498 posts, read 781,078 times
Reputation: 394
Quote:
Originally Posted by Lowexpectations View Post
Why do you start multiple threads to simply cross reference your posts in each of them?
Lowexpectations, would you prefer that I not reference the discussion thread that's fully devoted to the specific sub-topic?
The thread I referred to is fully devoted to the discussion of the minimum wage rate's relationship to the inflation rate of the nation's currency. Respectfully, Supposn
Reply With Quote Quick reply to this message
 
Old 02-10-2020, 02:45 AM
 
76,411 posts, read 75,793,858 times
Reputation: 53676
Quote:
Originally Posted by Lowexpectations View Post
Why do you start multiple threads to simply cross reference your posts in each of them?
don't you know , if you repeat things that may not be true long enough they become truer
Reply With Quote Quick reply to this message
 
Old 02-10-2020, 06:52 AM
 
9,252 posts, read 5,455,010 times
Reputation: 9506
instead of raising everybody wages to $15, why not raise those that deserve it
Reply With Quote Quick reply to this message
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.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top