$15 Minimum Wage Battle Moves To Other Industries

[Greg F]

Well thought out argument but there is a problem with it. You are taking on 18th century thinking about the money supply. There is no set amount of money.

No no no ... I am not going to let you change the subject sparky. Lets go over this again.

 

Well sparky you failed to account for where the higher wages come from. For someone to get paid more someone else is going to have to pay more. So, for example, if a dollar raise means the buyer has to spend a dollar more for the same product the only thing that has changed is who has that dollar. The buyer now has a dollar less and the seller now has a dollar more. The supply of money hasn't changed and therefore neither has the demand. What part of that don't you understand?

The Fed is not going to cut a check to the business so your rambling on about the Fed increasing the money supply is nonsense. Further, increasing the money supply ultimately leads to inflation which is only mitigated temporarily due to the velocity of money.

[Chef Jim]

First off, you are a complete POS idiot and prove it constantly, thank you.

 

Now, we would have more willing employees who would work harder for the higher wage; depending on what we sell, we would sell more to our own employees and hopefully the new wage would improve the economy by bringing more marginal workers that would not work for the old wage into the economy thus increasing consumption all around. Also, the wage push or ripple effect: http://www.brookings.edu/blogs/up-front/posts/2014/01/10-ripple-effect-of-increasing-the-minimum-wage-kearney-harriswould produce even more positive results.

 

Not that I would see it as a cure all or anything. Just looking at it through the rose colored glasses of positive expectations Kiss

Myopic man

 

So if a high minimum wage is good for the economy why not set it at $1,000 an hour?

[IDBillzFan]

 

So if a high minimum wage is good for the economy why not set it at $1,000 an hour?

 

Given how sure he is that it will work, we can only assume he put it to work at his own company.

 

How many employees does he have, when did he increase their pay to $15/hour, what was his company revenue before the raise and what was it right after?

 

I mean, it's a sure-fire move to increase corporate revenue through demand, so he certainly did it with his company, right gator?

 

 

I keep asking him, but he ignores the question as if he's afraid that maybe it didn't work with his company.

[TakeYouToTasker]

 

Given how sure he is that it will work, we can only assume he put it to work at his own company.

 

How many employees does he have, when did he increase their pay to $15/hour, what was his company revenue before the raise and what was it right after?

 

I mean, it's a sure-fire move to increase corporate revenue through demand, so he certainly did it with his company, right gator?

 

 

I keep asking him, but he ignores the question as if he's afraid that maybe it didn't work with his company.

You mean the company he owns where he didn't like the 401k offerings because he didn't like the sales rep, and couldn't read a pie chart, so he stopped contributing to it and uses a traditional IRA instead now?

[Chef Jim]

You mean the company he owns where he didn't like the 401k offerings because he didn't like the sales rep, and couldn't read a pie chart, so he stopped contributing to it and uses a traditional IRA instead now?

 

That's some damn good financial planning right there!.

Edited April 19, 2016 by Chef Jim

[Maury Ballstein]

It's going up, and small business will probably be fine

Probably ? Where does the extra 5.00 an hour come from ?

 

It's death to most small businesses.

[3rdnlng]

Probably ? Where does the extra 5.00 an hour come from ?

 

It's death to most small businesses.

The employees will have more money and buy more of the staple removers that the company makes, silly boy.....gator.

[Greg F]

Probably ? Where does the extra 5.00 an hour come from ?

According to gator it comes from the Fed printing more currency. He probably thinks the country became wealthy because we could print currency faster than anybody else. Comes from the Krugman school of Alchemy Economics.

[Tiberius]

So if a high minimum wage is good for the economy why not set it at $1,000 an hour?

 

That's childish

[Chef Jim]

That's childish

Then what's the ideal minimum wage, should it federally mandated and why?

[Tiberius]

Then what's the ideal minimum wage, should it federally mandated and why?

What?

[Chef Jim]

What?

Are you deaf??

[TakeYouToTasker]

Are you deaf??

I'm pretty sure this forum doesn't have an audio broadcast.

[DC Tom]

What?

 

WHAT IS THE IDEAL MINIMUM WAGE?

SHOULD IT BE FEDERALLY MANDATED?

IF SO, WHY SHOULD IT BE FEDERALLY MANDATED?

[Tiberius]

 

1) WHAT IS THE IDEAL MINIMUM WAGE?

2) SHOULD IT BE FEDERALLY MANDATED?

3) IF SO, WHY SHOULD IT BE FEDERALLY MANDATED?

1) Jury is still out, but higher than it is now

2) Yes, but on the low end so individual states can set higher ones. I mean a great and rich state like California is going to have a higher one than poor Mississippi

3) To set a bottom

[B-Man]

A Higher Minimum Wage Is Well-Intentioned but Problematic

by Jonah Goldberg

FTA:

Consider the race to hike the minimum wage. Bernie Sanders wants it to get to $15 as soon as possible. Hillary Clinton wants to get there almost as soon as possible.

In last week’s Democratic debate, Sanders denounced Clinton for her insufficient ardor in racing to $15. Clinton took umbrage, and the shouting match that ensued led CNN’s Wolf Blitzer to admonish them both: “If you’re both screaming at each other, the viewers won’t be able to hear either of you.”

With the exception of some very cynical labor unions that support a higher minimum wage because it amounts to an indirect subsidy of their members’ earnings and some politicians who know it is bad economics, the Fight for 15 movement is entirely well-intentioned. But good intentions do not automatically translate into good policy.

{snip}

Simply put, a minimum wage is no different from a tax on firms that use low-wage and unskilled labor. And if there’s anything that economists agree upon, it’s that if you tax something you get less of it.

Even California governor Jerry Brown understands this. He just doesn’t care. When he signed the new minimum-wage law, he proclaimed, “Economically, minimum wages may not make sense. But morally, socially, and politically, they make every sense because it binds the community together to make sure parents can take care of their kids.”

This amounts to grotesque cowardice. If Brown understands that his policy doesn’t work economically, he understands that the moral benefits will not materialize (though he’ll reap political benefits from those aforementioned unions).

Assuming it’s in everyone’s interest to raise the wages of low-income workers, then the government can subsidize those wages without penalizing businesses that give jobs to those most in need of work and work experience. We could, for instance, boost the Earned Income Tax Credit or pay businesses to bump up their payrolls. These approaches have drawbacks too, but they stand a better chance of achieving the moral goals that Brown, Sanders, and Clinton have in mind.

Read more at: http://www.nationalreview.com/article/434245/minimum-wage-increase-democratic-candidate-harmful-policy

[Magox]

 

Even California governor Jerry Brown understands this. He just doesn’t care. When he signed the new minimum-wage law, he proclaimed, “Economically, minimum wages may not make sense. But morally, socially, and politically, they make every sense because it binds the community together to make sure parents can take care of their kids.”

 

Wow

[Deranged Rhino]

[IDBillzFan]

1) Jury is still out, but higher than it is now

2) Yes, but on the low end so individual states can set higher ones. I mean a great and rich state like California is going to have a higher one than poor Mississippi

3) To set a bottom

 

Hey, now that you're back, can you tell everyone how increasing the wage of all your employees to $15/hour has expanded your company by creating more demand?

 

You keep insisting it's a slam dunk, so we assumed you already made the change at your company.

 

Can you give us specifics?

[Tiberius]

 

Hey, now that you're back, can you tell everyone how increasing the wage of all your employees to $15/hour has expanded your company by creating more demand?

 

You keep insisting it's a slam dunk, so we assumed you already made the change at your company.

 

Can you give us specifics?

Seems like you don't know the difference between macro and micro economics, is that correct?

 

Yes, I'm not on all the time. Is that your problem now?

 

We? How do you know "we" assumed anything? Have you discussed this with other posters or something?