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.
Let's not forget the 10-15 million illegals out there working for less than minimum wage...who will continue to be employed for less than minimum wage...regardless of minimum wage laws.
Let's not forget the 10-15 million illegals out there working for less than minimum wage...who will continue to be employed for less than minimum wage...regardless of minimum wage laws.
The left have already said to give them amnesty so that Democrats can get all the votes from the illegals and the illegals can get all the welfare from this generous country, which carries a debt of 17 trillion dollars. Actually it's about 50 million not 10-15 adding to the minimum wage labor pool.
The poor and America? They can both go to hell as far as the left is concerned. By the way, let's raise the minimum wage so that employers can outsource more jobs and more poor people can be on unemployment!!!
Nobody can point that out because we are not in a CLOSED economy. The effect of labor cost increase have been diluted by many other factors such as layoff, outsourcing, automation and bankruptcy etc.
However, you can be assured that employers WILL take at least one of those actions to offset the cost increase or they WILL pass the increase to the consumers.
Like I said 1001 times, none of those actions is good for the poor.
So, we are not currently a closed economy, great. how about in 1930's? 1940's? When minimum wage went up then?
Ohhhh..right you will make up some other excuse.
Quote:
Originally Posted by PedroMartinez
Wages, currency, is just something that simplifies bartering. You're trading your labor for other labor and/or goods.
As the perceived value of labor and goods increases (inflation) so does yours, and that is reflected in wages, currency.
But since currency is only a reflection of other goods and services, any increase will essentially translate into the same buying power as before.
You need to stop thinking that currency is something different that what it really is - labor and goods.
Fair enough, this is probably one of the better responses as its not nonsense. I agree. So lets look at what it really does. It moves the floor at the very very very bottom a little higher. And narrows the gap with the top-which really isn't going to move. Is the ceo going to demand a doubling in pay? Nope. Will I see my pay increase by $7/hr? Nope.
No extra labor or goods will be produced really...things will keep on going.
Quote:
Originally Posted by Haakon
Sure you can go to the Clarion Hotel and get one from the restaurant...oh whoops, they close the restaurant and laid off all the restaurant staff.
The Seatac law was only for travel and hospitality workers and excluded everyone at the airport so finding a $15/ hour burger flipper in Seatac will be difficult.
And a nearby Cedarbrook Lodge is undergoing a $16 million expansion. Go get hired there. Seriously, every single busness closing will now be blamed on the $15/hr wage...while ignoring the expansions elsewhere? What nonsense.
Quote:
Originally Posted by mm4
I understand monetary policy since following it in the early days of Paul Volcker and experiencing high interest rates during the Carter years.
-snip-.
Then discuss it like its a complex topic. So far you've been discussing it like some simple topic, ascribing minimum wage to the primary cause of inflation....now suddenly its "Complex". No kidding.
Quote:
Originally Posted by lifeexplorer
LOL.
No, wages shouldn't always follow inflation. Wage is basically a price of goods. Just like all other goods, some become obsolete, aka, worthless, and others become more precious or more valuable.
The question really is "Does today's burger flipper flip more/better/bigger burgers producing more value than 40 years ago?" If the answer is yes, then of course the wage would go up according to the value produced; if no, then no.
By the way, I still question the morality and the legality of forcing people to pay something above fair market value!
Hey good news! The modern burger flipper does n fact produce FAR more product in the past. You discuss "fair market value" when you really mean "the minimum possible such that government subsidizes the employee". Awesome. No.
Let's not forget the 10-15 million illegals out there working for less than minimum wage...who will continue to be employed for less than minimum wage...regardless of minimum wage laws.
Obama gave them work visas that allow them to work which means they are required to be paid at least minimum wage (except farm labor which makes zero sense... do farm works not "work")....
So, we are not currently a closed economy, great. how about in 1930's? 1940's? When minimum wage went up then?
Ohhhh..right you will make up some other excuse.
Fair enough, this is probably one of the better responses as its not nonsense. I agree. So lets look at what it really does. It moves the floor at the very very very bottom a little higher. And narrows the gap with the top-which really isn't going to move. Is the ceo going to demand a doubling in pay? Nope. Will I see my pay increase by $7/hr? Nope.
No extra labor or goods will be produced really...things will keep on going.
And a nearby Cedarbrook Lodge is undergoing a $16 million expansion. Go get hired there. Seriously, every single busness closing will now be blamed on the $15/hr wage...while ignoring the expansions elsewhere? What nonsense.
Then discuss it like its a complex topic. So far you've been discussing it like some simple topic, ascribing minimum wage to the primary cause of inflation....now suddenly its "Complex". No kidding.
Hey good news! The modern burger flipper does n fact produce FAR more product in the past. You discuss "fair market value" when you really mean "the minimum possible such that government subsidizes the employee". Awesome. No.
Let the market decide the wage and let's stop the subsidies! I am all for that.
If we were in a closed economy, you bet the inflation caused by arbitrary wage increase would be dollar for dollar. We aren't in a closed economy so how much wage increase can contribute to inflation is a very hard question to answer BECAUSE employers have many ways to offset the wage increase, for the 1002 times.
So what you are saying is you have no factual information, you just want me to take your word for it. That is something to laugh about.
But since currency is only a reflection of other goods and services, any increase will essentially translate into the same buying power as before.
You need to stop thinking that currency is something different that what it really is - labor and goods.
As inflation goes up, the buying power goes down, and we know inflation happens even if minimum wage doesn't go up. Therefore minimum wage loses buying power each time inflation happens and minimum wage isn't raised to keep up with it.
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.
