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.
...and it doesn't cause inflation either...right? Future automation will eliminate most of these low level jobs anyways, so the premise behind this entire thread has a short shelf life.
PedroMartinez, you asked, I answered, and you’re displeased with my answer? Sorry, that doesn’t change my answer.
You suggest that we continue to set the minimum to some specific numbers of dollars, $10,000 per hour? If you believe that’s best, you defend your beliefs.
I’m not required to consider or lend credence to any of others’ beliefs.
I advocate a minimum rate directly or indirectly based upon the purchasing power of the U.S. dollar. The U.S. dollar’s value is variable rather than constant.
I can’t force you to consider what I advocate. Respectfully, Supposn
No, you did NOT. You avoided it and just tossed out rhetoric just like you did here
...and it doesn't cause inflation either...right? …
Beach43ofus, transcribed from the thread, “A poor minimum drags on the median wage rate”, within the Economics forum:
Quote:
Originally Posted by Supposn
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
... Future automation will eliminate most of these low level jobs anyways, so the premise behind this entire thread has a short shelf life.
Beach43ofus, The wage rates of the poorest national economies have the least purchasing powers. Automation is not justified when human labor is available, can accomplish the tasks just as well, and at costs that do not exceed automation’s costs. Unsurprisingly, the poorest nations are the slowest to adopt advances in automation.
Automation is justified when it can produce consistently better products and/or products at lesser costs. Automation has always been to our nation’s net benefit.
To argue against higher wages because they encourage automation, is to argue in favor of poverty.
Respectfully, Supposn
Funny that we fuss over increasing prices because of raising wages to a living wage...but hell tariffs are just a price we have pay. And don't argue tariffs are temporary -- the problem is the prices don't fall....they just don't.
thousands of small businesses are facing situations like this:
Quote:
here is an example of what will happen with this 'raising'
minimum wage is for UNSKILLED currently at 7.20
I pay my UNSKILLED laborers (that clean the shop) over $9 an hour, the min wage is $7.2
an example:
I run a maintenance shop
I have a shop foreman...$24/hr
I have 3 mechanics.......$22/hr
I have a parts manager...$22/hr
I have 2 mechanic helpers...$14
I have 2 parts workers/drivers...$12
I have 2 labors (to clear the shop)....$9 (2 over min)
minimum wage is $7.2
the 'government' raises the minimum wage to 15
now I HAVE to increase the laborers wage to AT LEAST 15.. and he will WANT $17 (2 over min)....but If I give the "unskilled" laborer $17 then the driver (must maintain a clean license) will want more (hey boss, I was making $3 more than the unskilled guy) ...as so on, and so on...
either that or you will make what was 'above' min wage skilled worker to being min wage workers
thus RAISING THE COSTS of my SERVICE that I provide to the society.....
I would to raise salaries on mech helpers, drivers, and laborers...not to mention the actual SKILLED workers....meanwhile the business will end up failing, because it not is too costly to stay in business
so either costs will go up....or people will get laid-off......because as a small shop owner I cant afford to give any more than I am giving
this is just one example of what will happen, if we try raising the min wage anymore
as to raising it to a federal 15/hr remember this about raising a min wage and how it effect/affect other things
and let's not forget the COST of raising it to 15...those workers are NOT going to see much of a raise....
it also increases the taxes on EVERYONE who fell in that zone
increase of income taxes
increase of payroll taxes
loss/reduction of ACA/Medicaid health care subsidies
increase cost of health premiums
increase of state income taxes (if any)
loss/reduction of social benefits such as welfare/food stamps
increase on the prices of EVERYTHING
so possibly half of that raise magically disappears into the pockets of the politicians
the problem with all the fools shouting raise the min wage, is they don't see the big picture
and raising the min wage will benefit no one but the taxman
Workingclasshero, the federal minimum wage rate, to the extent of its purchasing power, reduces the numbers and extents of poverty among USA’s working-poor and their dependents.
Due to employers’ common wage differential practices, the minimum wage rate affects rates that are more than precisely the minimum rate. The minimum rate’s effects upon 40% of all USA employees, (i.e. those in the lowest wage rate bracket), range from critical to a substantial portion of their wage rates. The federal minimum wage rate ain’t only about $7.25 per hour.
The federal minimum wage rate is of net benefit to our nation’s economy, our society, and to no less than substantially direct benefit to 40% of all USA employees and their dependents.
Respectfully, Supposn
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.
