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The question was: If , since 1960, the minimum wage had increased at the same rate as productivity, then it would be $22/hr. What happened to the other $14?
If she's so "stupid", like you say, then surely you have a great answer to her question. What is your answer ?
The answer is that whoever invested in technology to get the increased productivity should harvest the rewards.
Productivity went up due to automation which us usually funded by company investors.
Maybe you should ask the Republicans who set up our banking system to devalue the dollar.
Fact is, we're already devaluing the dollar through private sector loans. That money just goes to executives and shareholders, by design.
The value of the dollar is hardly an issue right now...
You can blame the Fed for devaluing the dollar to pay for the promises of future taxes that ObamaCare and increased national debt brought on. Democrats are easily as much to blame (if not more so) than republicans for the current value of the dollar.
You can also blame FDR and the democratic policy of setting wage ceilings mid-century that brought on non-monetary benefits to employees for a start in a gradual decline in the value of currency.
The average CEO's wage is not $7,452 per hour. That number was based on a paper that a group of students wrote for a college project where they had no methodology and no explanation of where the number came from. Check your sources before posting so that you keep from embarrassing yourself.
Fair enough ... So what IS the average CEO's hourly equivalent in the U.S.A.? If you know what's NOT the right answer, surely you know what it is.
The value of the dollar is hardly an issue right now...
I don't see a source for that chart, but there are many ways to measure the value of a dollar. They're obviously using something as a proxy for purchasing power, it just isn't clear what. And the relevance of dollars:gold is questionable, I don't know what that has to do with the subject.
The value of the dollar is "an issue" right now, because we're dealing with the imbalance between wages and rents/healthcare that were caused in the 2000's. Just because we've hit a plateau and the dollar isn't being devalued right this moment, or within the past few years, is beside the point.
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You can blame the Fed for devaluing the dollar to pay for the promises of future taxes that ObamaCare and increased national debt brought on. Democrats are easily as much to blame (if not more so) than republicans for the current value of the dollar.
Nonsense, the private sector debt is about 5 times bigger than the public sector debt. Obamacare is hardly a drop in the bucket.
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You can also blame FDR and the democratic policy of setting wage ceilings mid-century that brought on non-monetary benefits to employees for a start in a gradual decline in the value of currency.
How do "non-monetary benefits to employees" correspond to a decline in the dollar's value?
The answer is that whoever invested in technology to get the increased productivity should harvest the rewards.
Productivity went up due to automation which us usually funded by company investors.
IMO, whoever CREATED those technologies should harvest most of the rewards. But here in the USA, it's all about "the investors".
Have you seen what happened to programming jobs here in the USA during the 90's? They used to pay quite handsomely, until it was all outsourced so the investors could reap higher benefits, without knowing or doing squat.
You better worry about the fast food chains. Service sector jobs, which are more than, but include fast food chain jobs are lower paying but, which comprise most of the U.S. job growth in the past few years. Take away - which is what a more than doubling the minimum wage would do - a high percentage of service sector jobs and what do you have? No employment opportunities for low education, low skill people. Then I guess we'd have to make sure unemployment 'pay' was minimal too. You see where this kind of nonsensical thinking goes, right?
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Originally Posted by foadi
doubt it would be implemented overnight. businesses would have time to adjust. multinational fast food chains aren't the businesses i'd be worried about though, they deal with high wages in other countries and know the score. small businesses are the ones who would suffer the most.
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