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Old 02-22-2015, 08:12 PM
 
Location: Portland, Oregon
46,001 posts, read 35,059,822 times
Reputation: 7875

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Quote:
Originally Posted by momonkey View Post
It won`t matter because prices will simply increase to compensate for artificially high wages.

The real problem, the one that isn`t being addressed, is an oversupply of labor due to ****ty trade deals, illegal immigration, guest workers and artificially low interest rates.

With the low information types focused on the minimum wage, Democrats along with corporate ***** Republicans will grant amnesty to millions of job stealing illegals with millions more ready to pour over the border.
Inflation happens regardless of wages going up or not. Also, we are talking about increasing the minimum wage, not about increasing "high wages." When did $15/hr become a "high wage?"

We are a part of a global economy, that won't be changing any time in the near future, but that is not a good enough excuse to prevent minimum wage from increasing.

The amount of illegals in this country "stealing jobs" is a small percentage, and are often times doing work for less than minimum wage. That isn't a good enough reason not to raise the minimum wage, it is a good reason to go after those that hire illegals and pay people below the minimum wage.
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Old 02-23-2015, 05:12 AM
 
Location: Jacksonville, FL
11,096 posts, read 10,651,841 times
Reputation: 9731
Quote:
Originally Posted by urbanlife78 View Post
Inflation happens regardless of wages going up or not. Also, we are talking about increasing the minimum wage, not about increasing "high wages." When did $15/hr become a "high wage?"

We are a part of a global economy, that won't be changing any time in the near future, but that is not a good enough excuse to prevent minimum wage from increasing.

The amount of illegals in this country "stealing jobs" is a small percentage, and are often times doing work for less than minimum wage. That isn't a good enough reason not to raise the minimum wage, it is a good reason to go after those that hire illegals and pay people below the minimum wage.
The amount of people making minimum wage is also a small percentage. Less than 5%, iirc.
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Old 02-23-2015, 06:04 AM
 
Location: the very edge of the continent
88,698 posts, read 44,482,974 times
Reputation: 13590
Quote:
Originally Posted by Quick Enough View Post
"overwhelmingly support raising the minimum "

It is ALWAYS easy to tell someone else what to do with their money.

Do any of the polls ask where THEY shop Nostrum's or Wal-Mart?

Wal-Mart isn't the largest retailer for nothing.
There's an exploration of that issue on YouTube:


https://www.youtube.com/watch?v=LLr5oWfoWRY
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Old 02-23-2015, 06:13 AM
 
Location: the very edge of the continent
88,698 posts, read 44,482,974 times
Reputation: 13590
Quote:
Originally Posted by JimRom View Post
Neither of the bolded is true.

We would see a temporary spike in spending as the minimum wage earners temporarily became "ghetto rich", but it would very temporary.

Welfare would still cost about the same in relative dollars, since minimum wage earners would be right back on the welfare roles once the markets adjusted, and would have a few new friends to come along with them after businesses pushed more automation to offset labor costs.
Exactly so. An increase in the minimum wage results in the decrease of both the employment of and the income of employed low-skilled workers. Both facts published by UCSD's Dept of Economics.

Quote:
"…we find that minimum wage increases significantly reduced the employment of low-skilled workers. By the second year following the $7.25 minimum’s implementation, we estimate that targeted workers’ employment rates had fallen by 6 percentage points (8%) more in ‘bound’ states than in ‘unbound’ states. …Over the late 2000s the average effective minimum wage rate rose by nearly 30% across the United States. Our best estimate is that these minimum wage increases reduced the employment of working-age adults by 0.7 percentage points. This accounts for 14% of the employment rate’s total decline over this time period and amounts to 1.4 million workers. A disproportionate 45% of the affected workers were young adults (aged 15 to 24)."
Direct source: http://econweb.ucsd.edu/~mwither/pdfs/Effects%20of%20Min%20Wage%20on%20Wages%20Employmen t%20and%20Earnings.pdf
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Old 02-23-2015, 06:20 AM
 
Location: the very edge of the continent
88,698 posts, read 44,482,974 times
Reputation: 13590
Quote:
Originally Posted by momonkey View Post
It won`t matter because prices will simply increase to compensate for artificially high wages.

The real problem, the one that isn`t being addressed, is an oversupply of labor due to ****ty trade deals, illegal immigration, guest workers and artificially low interest rates.
That's not all. The oversupply of low-skilled bottom wage labor is also due to this:

1) Nearly half of all U.S. births are paid for by Medicaid (medical care public assistance program for the poor).
Medicaid Pays For Nearly Half of All Births in the United States | publichealth.gwu.edu

2) Those who receive public assistance have a birth rate 3 times higher than those who don't. Stats and citations, here:
//www.city-data.com/forum/32045595-post217.html

That's keeping low-end wages depressed.
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Old 02-23-2015, 06:24 AM
 
Location: NE Ohio
30,421 posts, read 20,231,222 times
Reputation: 8958
Quote:
Originally Posted by nvxplorer View Post
It doesn't work that way in the real world. We've already been down this road. Here's one example of how laissez-faire economics works: History Files - Pullman
That doesn't apply here. We are not in any deep depression, and nobody is cutting anybody's wages. We are discussing forced wage hikes (by government action) that would increase wages above the value of labor.

"What the market will bear" is still a valid rule of thumb. The Market is a regulator. When price exceeds what buyers are willing to pay, the price must come down. When government acts to force wages higher than the value of that labor to the employer, the employer may lay off the workers and outsource, go to automation, or reassign the work to others (I have seen this ... other employees doing other jobs take on additional responsibility, and the former workers are laid off).

In any case, the result of forcing a minimum wage higher will likely not be in the wage earners favor.
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Old 02-23-2015, 08:03 AM
 
Location: Portland, Oregon
46,001 posts, read 35,059,822 times
Reputation: 7875
Quote:
Originally Posted by JimRom View Post
The amount of people making minimum wage is also a small percentage. Less than 5%, iirc.
True, though the better question is how many people make a wage between the current minimum wage and what the wage could be raised to?
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Old 02-23-2015, 08:44 AM
 
82 posts, read 54,959 times
Reputation: 42
Quote:
Originally Posted by urbanlife78 View Post
True, though the better question is how many people make a wage between the current minimum wage and what the wage could be raised to?
25% of America works low wage jobs.
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Old 02-23-2015, 10:39 AM
 
7,214 posts, read 9,368,295 times
Reputation: 7802
Quote:
Originally Posted by non-linear View Post
25% of America works low wage jobs.
Yup. This is the over looked statistic. About 25% of American workers make $10.00/hour or less. That is pretty pathetic in 2015 America. Aren't we supposed to be an "exceptional" nation?
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Old 02-23-2015, 10:56 AM
 
3,792 posts, read 2,371,857 times
Reputation: 768
Quote:
Originally Posted by MaseMan View Post
Yup. This is the over looked statistic. About 25% of American workers make $10.00/hour or less. That is pretty pathetic in 2015 America. Aren't we supposed to be an "exceptional" nation?
So a $10.50 an hr minimum wage would give 25% of works in the US a raise?
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