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Gender pay gap

lovelife
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2/21/2011 3:46:48 PM
Posted: 5 years ago
Well I was gunna write this on fb but the I decided I didn't want to start a fight with kitty since a comment he made yesterday to me pretty much cut me, and when I told my mom and stepdad they got really PISSED and started yelling at me for what he said.
"Oh wow is a few cents really gunna kill you?" on the issue of gender pay gap.
So I decided to do some math, and next time an issue like that comes up, have it handy.


Alright how much does the gender pay gap actually hurt?
Will a "few cents" kill?

"Women earned 82.8% of the median weekly wage of men in the second quarter of 2010, up from 76.1% for the same period a decade ago and the highest ever recorded, the Bureau of Labor Statistics reports." [1]

Alright so for every dollar that a guy makes lets say a woman gets 83 cents, round it up.
A guy gets a job for $100,000 now multiply that by .83, and that is the woman's pay.
$83,000
That is $17,000 less.
Enough to buy a car.
Enough to pay for (up to $500 a month) rent for 2.8 years.
Enough for a good vacation.
etc etc

"No matter the age, women did better. For example, women 35 to 44 saw wages rise 11.5% after inflation from 2000 to 2009, compared with a 1.2% increase for men. Despite the gains, women of that age still earn about $200 less per week than the typical man." [1]

What could you do with another $200 a WEEK. ($800 a month, $9,600 a year)
Not trying to pick any fights, but I've seen people try to argue this, so I decided to look at the numbers myself.

I'll no longer call myself a feminist, but I'll still call myself an equalist, and that is not even close to equality.
It may seem like a few cents because men get paid $7.5/h, and women get $7/h (whatever idk the exact ratio) but do the math for both and then compare.
[1] http://www.usatoday.com...


Of course feel free to make comments, arguments etc
I'm still interested in the other side and iirc there are actually quite a few people here to like to try to justify the gap.
Without Royal there is a hole inside of me, I have no choice but to leave
LaissezFaire
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2/21/2011 3:48:58 PM
Posted: 5 years ago
That 83% figure is bullsh­it. It's 97% (as of some years ago, might changed. If the normally cited pay gap decreased, this likely did too) when you control for things like type of job, years experience, and hours worked per week.
Should we subsidize education?
http://www.debate.org...

http://mises.org...

http://lewrockwell.com...

http://antiwar.com...

: At 6/22/2011 6:57:23 PM, el-badgero wrote:
: i didn't like [Obama]. he was the only black dude in moneygall yet he claimed to be home. obvious liar is obvious liar. i bet him and bin laden are bumfvcking right now.
Xer
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2/21/2011 3:56:53 PM
Posted: 5 years ago
Women take less dangerous jobs than men, usually take shorter work weeks, the employers have to pay for maternity leave and other female "needs", and women usually take jobs in lower-paying positions -- much more men major in business and engineering than women.
Ore_Ele
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2/21/2011 4:01:45 PM
Posted: 5 years ago
http://lifeinc.today.com...

Single, no-kids, women make more then single, no-kids, men. This is gender inequality!!! And I demand that something be done about it!!
"Wanting Red Rhino Pill to have gender"
lewis20
Posts: 5,093
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2/21/2011 4:13:25 PM
Posted: 5 years ago
At 2/21/2011 3:56:53 PM, Nags wrote:
Women take less dangerous jobs than men, usually take shorter work weeks, the employers have to pay for maternity leave and other female "needs", and women usually take jobs in lower-paying positions -- much more men major in business and engineering than women.

That
Majority of Duke Energy linemen are men, majority of pre-school teachers are women. One is more physically demanding and pays more. I'd point out that higher earning careers like engineering are more populated by men, not because they are better at it necessarily, they just have a greater interest in it and society tends to pay more for engineering services than child care or whatever it is women tend to excel at.
Also wouldn't it be important to point out that a lot of jobs women have are to supplement mens income as majority of families still rely on men as primary bread earners.
"If you are a racist I will attack you with the north"- Abraham Lincoln

"Do not wear clothing woven of two kinds of material" - Leviticus 19 19

"War is a racket" - Smedley Butler
lewis20
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2/21/2011 4:15:29 PM
Posted: 5 years ago
At 2/21/2011 3:46:48 PM, lovelife wrote:
"Women earned 82.8% of the median weekly wage of men in the second quarter of 2010, up from 76.1% for the same period a decade ago and the highest ever recorded, the Bureau of Labor Statistics reports." [1]


Alright so for every dollar that a guy makes lets say a woman gets 83 cents, round it up.
A guy gets a job for $100,000 now multiply that by .83, and that is the woman's pay.
$83,000
That is $17,000 less.
Enough to buy a car.
Enough to pay for (up to $500 a month) rent for 2.8 years.
Enough for a good vacation.
etc etc

"No matter the age, women did better. For example, women 35 to 44 saw wages rise 11.5% after inflation from 2000 to 2009, compared with a 1.2% increase for men. Despite the gains, women of that age still earn about $200 less per week than the typical man." [1]

What could you do with another $200 a WEEK. ($800 a month, $9,600 a year)
Not trying to pick any fights, but I've seen people try to argue this, so I decided to look at the numbers myself.

I'll no longer call myself a feminist, but I'll still call myself an equalist, and that is not even close to equality.
It may seem like a few cents because men get paid $7.5/h, and women get $7/h (whatever idk the exact ratio) but do the math for both and then compare.
[1] http://www.usatoday.com...

I think this argument assumes that this pay is given to men and women without taking into account the different jobs they may be doing. It's not like they are doing the exact same jobs and men are just making that much more.
"If you are a racist I will attack you with the north"- Abraham Lincoln

"Do not wear clothing woven of two kinds of material" - Leviticus 19 19

"War is a racket" - Smedley Butler
lovelife
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2/21/2011 4:16:33 PM
Posted: 5 years ago
Really?

"And despite the earnings premium that comes with greater education, women with bachelor's degrees earn less over 15 years than men with a high school diploma or less, according to the IWPR study.)"

http://www.time.com...

"Because women and men tend to go into different kinds of jobs, the company looked at what happens within any given career. PayScale chose 90 common careers that its researchers thought gave a useful cross-section of the labor market: 30 jobs that were primarily held by women (e.g., dental hygienists, of whom 95 percent are women in PayScale's database); 30 jobs that were primarily held by men (e.g., electrical engineers, of whom 90 percent are men); and 30 that had roughly equal representation between men and women (e.g., pharmacists, of whom 49 percent are women and 51 percent are men). For each particular job, they had anywhere from several thousand to tens of thousands of data points.

The company then examined the data two ways.

First, it looked at the median pay of men compared with women within a given field, both when they started their jobs and at mid-career, using the raw data that workers had provided. By these calculations, they found that within almost every one of their 90 chosen careers, and across careers at every level of education, men earned higher pay than women. "

http://economix.blogs.nytimes.com...
Without Royal there is a hole inside of me, I have no choice but to leave
LaissezFaire
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2/21/2011 4:18:56 PM
Posted: 5 years ago
At 2/21/2011 4:16:33 PM, lovelife wrote:
Really?

"And despite the earnings premium that comes with greater education, women with bachelor's degrees earn less over 15 years than men with a high school diploma or less, according to the IWPR study.)"

http://www.time.com...

"Because women and men tend to go into different kinds of jobs, the company looked at what happens within any given career. PayScale chose 90 common careers that its researchers thought gave a useful cross-section of the labor market: 30 jobs that were primarily held by women (e.g., dental hygienists, of whom 95 percent are women in PayScale's database); 30 jobs that were primarily held by men (e.g., electrical engineers, of whom 90 percent are men); and 30 that had roughly equal representation between men and women (e.g., pharmacists, of whom 49 percent are women and 51 percent are men). For each particular job, they had anywhere from several thousand to tens of thousands of data points.

The company then examined the data two ways.

First, it looked at the median pay of men compared with women within a given field, both when they started their jobs and at mid-career, using the raw data that workers had provided. By these calculations, they found that within almost every one of their 90 chosen careers, and across careers at every level of education, men earned higher pay than women. "

http://economix.blogs.nytimes.com...

That really doesn't contradict anything I said. If you control for type of job, years experience, and hours worked per week, the gap is still only 3%.
Should we subsidize education?
http://www.debate.org...

http://mises.org...

http://lewrockwell.com...

http://antiwar.com...

: At 6/22/2011 6:57:23 PM, el-badgero wrote:
: i didn't like [Obama]. he was the only black dude in moneygall yet he claimed to be home. obvious liar is obvious liar. i bet him and bin laden are bumfvcking right now.
Ore_Ele
Posts: 25,980
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2/21/2011 4:21:51 PM
Posted: 5 years ago
At 2/21/2011 4:16:33 PM, lovelife wrote:
Really?

"And despite the earnings premium that comes with greater education, women with bachelor's degrees earn less over 15 years than men with a high school diploma or less, according to the IWPR study.)"

http://www.time.com...

"Because women and men tend to go into different kinds of jobs, the company looked at what happens within any given career. PayScale chose 90 common careers that its researchers thought gave a useful cross-section of the labor market: 30 jobs that were primarily held by women (e.g., dental hygienists, of whom 95 percent are women in PayScale's database); 30 jobs that were primarily held by men (e.g., electrical engineers, of whom 90 percent are men); and 30 that had roughly equal representation between men and women (e.g., pharmacists, of whom 49 percent are women and 51 percent are men). For each particular job, they had anywhere from several thousand to tens of thousands of data points.

The company then examined the data two ways.

First, it looked at the median pay of men compared with women within a given field, both when they started their jobs and at mid-career, using the raw data that workers had provided. By these calculations, they found that within almost every one of their 90 chosen careers, and across careers at every level of education, men earned higher pay than women. "

http://economix.blogs.nytimes.com...

You'll never get instant change. Whining about it only turns people off to the issue. Great progress is being made for women, though for many, it is their own fault (or really, their lack of greed).

I'll turn to my mom for an example (I know it is anecdotal, just hear it out). She is a VP of finance for a company (over $150 million in revenue a year) and she makes a decent amount of money. However, if she wanted, she could make a lot more by going to a different company, or by holding out against her current one, asking for more money. But she chooses not to. Show could probably make about twice what she is making now.
"Wanting Red Rhino Pill to have gender"
mongeese
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2/21/2011 4:24:30 PM
Posted: 5 years ago
In Economic Facts and Fallacies, Thomas Sowell pointed out that even within the same type of job, women tend to work fewer hours. In the case of lawyering, women would take jobs with consistant hours, while men are more likely willing to take cases and airplane rides at midnight for their client, partly because women tend to be the ones who take care of the children.
lewis20
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2/21/2011 4:25:31 PM
Posted: 5 years ago
At 2/21/2011 4:21:51 PM, OreEle wrote:
I'll turn to my mom for an example (I know it is anecdotal, just hear it out). She is a VP of finance for a company (over $150 million in revenue a year) and she makes a decent amount of money. However, if she wanted, she could make a lot more by going to a different company, or by holding out against her current one, asking for more money. But she chooses not to. Show could probably make about twice what she is making now.

Your mom doesn't like money? or she's too nice to ask for more? even though she deserves more, I'm confused.
"If you are a racist I will attack you with the north"- Abraham Lincoln

"Do not wear clothing woven of two kinds of material" - Leviticus 19 19

"War is a racket" - Smedley Butler
lovelife
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2/21/2011 4:25:55 PM
Posted: 5 years ago
At 2/21/2011 4:18:56 PM, LaissezFaire wrote:
At 2/21/2011 4:16:33 PM, lovelife wrote:
Really?

"And despite the earnings premium that comes with greater education, women with bachelor's degrees earn less over 15 years than men with a high school diploma or less, according to the IWPR study.)"

http://www.time.com...

"Because women and men tend to go into different kinds of jobs, the company looked at what happens within any given career. PayScale chose 90 common careers that its researchers thought gave a useful cross-section of the labor market: 30 jobs that were primarily held by women (e.g., dental hygienists, of whom 95 percent are women in PayScale's database); 30 jobs that were primarily held by men (e.g., electrical engineers, of whom 90 percent are men); and 30 that had roughly equal representation between men and women (e.g., pharmacists, of whom 49 percent are women and 51 percent are men). For each particular job, they had anywhere from several thousand to tens of thousands of data points.

The company then examined the data two ways.

First, it looked at the median pay of men compared with women within a given field, both when they started their jobs and at mid-career, using the raw data that workers had provided. By these calculations, they found that within almost every one of their 90 chosen careers, and across careers at every level of education, men earned higher pay than women. "

http://economix.blogs.nytimes.com...

That really doesn't contradict anything I said. If you control for type of job, years experience, and hours worked per week, the gap is still only 3%.

I think one of my sources said that already
"In most jobs, the gap between men's and women's earnings narrows greatly when you adjust for factors like career path and experience. But at the top of the income scale — jobs paying more than $100,000 — the salary gap between equally qualified men and women is still vast"

"They adjusted the salaries based on hundreds of different factors they had data on, including location of the job, industry, size of the company and the budget a person managed, as well as his or her education and certifications, special skills and length of experience in a field. In some cases, they adjusted the salaries based on industry-specific data (e.g., how many beds are in the hospital a nurse works in). "

etc all factors are in and its still high.

Anyway redo the math and lets do say the gap is 3%
100,000 for men is
97,000 for women.
$3,000 less can still pay for a decent vacation with that.
Without Royal there is a hole inside of me, I have no choice but to leave
lovelife
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2/21/2011 4:28:20 PM
Posted: 5 years ago
At 2/21/2011 4:25:31 PM, lewis20 wrote:
At 2/21/2011 4:21:51 PM, OreEle wrote:
I'll turn to my mom for an example (I know it is anecdotal, just hear it out). She is a VP of finance for a company (over $150 million in revenue a year) and she makes a decent amount of money. However, if she wanted, she could make a lot more by going to a different company, or by holding out against her current one, asking for more money. But she chooses not to. Show could probably make about twice what she is making now.

Your mom doesn't like money? or she's too nice to ask for more? even though she deserves more, I'm confused.

This.

Are men more likely to demand more money?
Are there any sources on that?
Without Royal there is a hole inside of me, I have no choice but to leave
lovelife
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2/21/2011 4:32:45 PM
Posted: 5 years ago
Also for the hours worked

"Census data shows that the gap between men's and women's earning widened between 2007 and 2008 (annual wage data is not yet available for 2009) from 77.8 percent to 77.1 percent. Women who work full-time still earn, on average, 77 cents for every dollar men earn for performing the same work. Based on median earnings of full-time year round workers, women's earnings were $35,745 and men's earnings were $46,367. "

http://www.cluw.org...
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Grape
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2/21/2011 4:33:48 PM
Posted: 5 years ago
"The implication is that in most jobs where a wage gap exists, it is probably not due to overt discrimination, with bosses deciding, Mad-Men-style, that women should receive unequal pay for equal work. Rather, in most jobs, the different career choices that men and women make — or perhaps the different career opportunities men and women have available to them — account for big differences in pay."

This what your article has to say on the matter. The adjusted figure they found was 94% percent, not 83%.
lovelife
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2/21/2011 4:39:46 PM
Posted: 5 years ago
At 2/21/2011 4:33:48 PM, Grape wrote:
"The implication is that in most jobs where a wage gap exists, it is probably not due to overt discrimination, with bosses deciding, Mad-Men-style, that women should receive unequal pay for equal work. Rather, in most jobs, the different career choices that men and women make — or perhaps the different career opportunities men and women have available to them — account for big differences in pay."

This what your article has to say on the matter. The adjusted figure they found was 94% percent, not 83%.

So still 6% less. Guess I didn't see that since I just looked for key words to relevant bits.

6%=94 cents to the dollar.
$100,000- men
97,000- women
$3,000 less- difference
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lovelife
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2/21/2011 4:46:40 PM
Posted: 5 years ago
Regardless of disagreements I'm glad I can have people logically articulate the other side to me :D.

While we're at it, how does it make me sexist to think of a guy when I think of a guy?
Without Royal there is a hole inside of me, I have no choice but to leave
Ore_Ele
Posts: 25,980
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2/21/2011 4:46:41 PM
Posted: 5 years ago
At 2/21/2011 4:25:31 PM, lewis20 wrote:
At 2/21/2011 4:21:51 PM, OreEle wrote:
I'll turn to my mom for an example (I know it is anecdotal, just hear it out). She is a VP of finance for a company (over $150 million in revenue a year) and she makes a decent amount of money. However, if she wanted, she could make a lot more by going to a different company, or by holding out against her current one, asking for more money. But she chooses not to. Show could probably make about twice what she is making now.

Your mom doesn't like money? or she's too nice to ask for more? even though she deserves more, I'm confused.

She likes her job and is happy with the amount of money she makes. Whats not to get?

Kind of like, she can also afford a much nicer car then she currently has, but she doesn't, not because she has anything against new cars, but because she is happy with her current car.
"Wanting Red Rhino Pill to have gender"
lewis20
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2/21/2011 4:47:06 PM
Posted: 5 years ago
At 2/21/2011 4:32:45 PM, lovelife wrote:
Also for the hours worked

"Census data shows that the gap between men's and women's earning widened between 2007 and 2008 (annual wage data is not yet available for 2009) from 77.8 percent to 77.1 percent. Women who work full-time still earn, on average, 77 cents for every dollar men earn for performing the same work. Based on median earnings of full-time year round workers, women's earnings were $35,745 and men's earnings were $46,367. "

http://www.cluw.org...

Also that source doesn't check out
"If you are a racist I will attack you with the north"- Abraham Lincoln

"Do not wear clothing woven of two kinds of material" - Leviticus 19 19

"War is a racket" - Smedley Butler
lovelife
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2/21/2011 4:49:57 PM
Posted: 5 years ago
At 2/21/2011 4:47:06 PM, lewis20 wrote:
At 2/21/2011 4:32:45 PM, lovelife wrote:
Also for the hours worked

"Census data shows that the gap between men's and women's earning widened between 2007 and 2008 (annual wage data is not yet available for 2009) from 77.8 percent to 77.1 percent. Women who work full-time still earn, on average, 77 cents for every dollar men earn for performing the same work. Based on median earnings of full-time year round workers, women's earnings were $35,745 and men's earnings were $46,367. "

http://www.cluw.org...

Also that source doesn't check out

How?
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lewis20
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2/21/2011 4:50:43 PM
Posted: 5 years ago
At 2/21/2011 4:46:41 PM, OreEle wrote:
At 2/21/2011 4:25:31 PM, lewis20 wrote:
At 2/21/2011 4:21:51 PM, OreEle wrote:
I'll turn to my mom for an example (I know it is anecdotal, just hear it out). She is a VP of finance for a company (over $150 million in revenue a year) and she makes a decent amount of money. However, if she wanted, she could make a lot more by going to a different company, or by holding out against her current one, asking for more money. But she chooses not to. Show could probably make about twice what she is making now.

Your mom doesn't like money? or she's too nice to ask for more? even though she deserves more, I'm confused.

She likes her job and is happy with the amount of money she makes. Whats not to get?

Kind of like, she can also afford a much nicer car then she currently has, but she doesn't, not because she has anything against new cars, but because she is happy with her current car.

She could use the money to give to her favorite charity, she could invest it, she could save the extra money for her kids or grandkids college fund. I rarely hear of someone working for a salary half as much as they deserve simply because they don't want more money.
"If you are a racist I will attack you with the north"- Abraham Lincoln

"Do not wear clothing woven of two kinds of material" - Leviticus 19 19

"War is a racket" - Smedley Butler
Sieben
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2/21/2011 4:52:19 PM
Posted: 5 years ago
1)The point is to try and compare never married women to men in the same field, work experience, etc. It will STILL show less because some of those NMWs will still be planning to be a mother, and therefore not be as aggressive as they otherwise would be.

2) You can also look at it from the theoretical point of view - if sexists were really wrong about their views on women, they'd be systematically punished by losing profits.

3) Sexism is apparently only a problem when it appears to hurt women. It doesn't matter if upwards of 98% of prison inmates are men http://www.prisonpolicy.org...
Things that are so interesting:

http://www.debate.org...
http://www.debate.org...
Thaddeus
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2/21/2011 4:58:49 PM
Posted: 5 years ago
The market fines sexism. If you are sexist and choose to hire a man who is less able than a woman you will get worse output, and less profit. Any pay gap which isn't due to woman's choice is already being punished.
lovelife
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2/21/2011 5:04:06 PM
Posted: 5 years ago
At 2/21/2011 4:52:19 PM, Sieben wrote:
1)The point is to try and compare never married women to men in the same field, work experience, etc. It will STILL show less because some of those NMWs will still be planning to be a mother, and therefore not be as aggressive as they otherwise would be.

Maybe some, but not all. Men can be focusing on future plans too tho.

2) You can also look at it from the theoretical point of view - if sexists were really wrong about their views on women, they'd be systematically punished by losing profits.

How do you mean?
If women are paid less, they will hire more women, pay less money, and keep more profits.

3) Sexism is apparently only a problem when it appears to hurt women. It doesn't matter if upwards of 98% of prison inmates are men http://www.prisonpolicy.org...

Wow what the fvck kind of fallacy is that?
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Thaddeus
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2/21/2011 5:09:46 PM
Posted: 5 years ago
At 2/21/2011 5:04:06 PM, lovelife wrote:
At 2/21/2011 4:52:19 PM, Sieben wrote:
1)The point is to try and compare never married women to men in the same field, work experience, etc. It will STILL show less because some of those NMWs will still be planning to be a mother, and therefore not be as aggressive as they otherwise would be.

Maybe some, but not all. Men can be focusing on future plans too tho.

2) You can also look at it from the theoretical point of view - if sexists were really wrong about their views on women, they'd be systematically punished by losing profits.

How do you mean?
If women are paid less, they will hire more women, pay less money, and keep more profits.

Rubbish. A business will always pay the minimum it can for an employee. It will value the marginal output it can get from the extra employee, and if it will increase profits they will hire them. Discriminating based on gender punishes the business and they will be forced out of the market.

3) Sexism is apparently only a problem when it appears to hurt women. It doesn't matter if upwards of 98% of prison inmates are men http://www.prisonpolicy.org...

Wow what the fvck kind of fallacy is that?
lewis20
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2/21/2011 5:10:29 PM
Posted: 5 years ago
At 2/21/2011 4:49:57 PM, lovelife wrote:
At 2/21/2011 4:47:06 PM, lewis20 wrote:
At 2/21/2011 4:32:45 PM, lovelife wrote:
Also for the hours worked

"Census data shows that the gap between men's and women's earning widened between 2007 and 2008 (annual wage data is not yet available for 2009) from 77.8 percent to 77.1 percent. Women who work full-time still earn, on average, 77 cents for every dollar men earn for performing the same work. Based on median earnings of full-time year round workers, women's earnings were $35,745 and men's earnings were $46,367. "

http://www.cluw.org...

Also that source doesn't check out

How?

They skewed the data and made some up in a way to help their cause. The 2007 census data says womens percentage of mens earnings was 77.5 with a +/- of .3 The website you sited added the .3 to give the 77.8
As for 2008, percentage was 77.9 +/- .2 The website given claimed it was 77.1
Also most of the "more information" links didn't check out.

2007 census
http://www.census.gov...
2008 census
http://www.census.gov...
"If you are a racist I will attack you with the north"- Abraham Lincoln

"Do not wear clothing woven of two kinds of material" - Leviticus 19 19

"War is a racket" - Smedley Butler
Thaddeus
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2/21/2011 5:11:00 PM
Posted: 5 years ago
At 2/21/2011 5:04:06 PM, lovelife wrote:

3) Sexism is apparently only a problem when it appears to hurt women. It doesn't matter if upwards of 98% of prison inmates are men http://www.prisonpolicy.org...

Wow what the fvck kind of fallacy is that?
An awful one. Sexism against men can be addressed in another thread.
Ore_Ele
Posts: 25,980
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2/21/2011 5:13:14 PM
Posted: 5 years ago
At 2/21/2011 4:50:43 PM, lewis20 wrote:
At 2/21/2011 4:46:41 PM, OreEle wrote:
At 2/21/2011 4:25:31 PM, lewis20 wrote:
At 2/21/2011 4:21:51 PM, OreEle wrote:
I'll turn to my mom for an example (I know it is anecdotal, just hear it out). She is a VP of finance for a company (over $150 million in revenue a year) and she makes a decent amount of money. However, if she wanted, she could make a lot more by going to a different company, or by holding out against her current one, asking for more money. But she chooses not to. Show could probably make about twice what she is making now.

Your mom doesn't like money? or she's too nice to ask for more? even though she deserves more, I'm confused.

She likes her job and is happy with the amount of money she makes. Whats not to get?

Kind of like, she can also afford a much nicer car then she currently has, but she doesn't, not because she has anything against new cars, but because she is happy with her current car.

She could use the money to give to her favorite charity, she could invest it, she could save the extra money for her kids or grandkids college fund. I rarely hear of someone working for a salary half as much as they deserve simply because they don't want more money.

What you can get =/= what you deserve.

And you're right, there are alot of things that she could choose to do with that extra money, but it also makes sense and is current with supply and demand theory for pay rates. People will work harder to make more money, but they eventually hit a level where they have all the money they want and so have no desire to work for more.

Basically, if you have $100 million in your bank, and are making $8 million a year from dividends, the value of $20 to you is not the same as the value of $20 to someone make minimum wage. And so the desire to work for the extra money is much less (since it is not worth anything to you, as it would be for someone making minimum wage).

So yes, my mom could work somewhere else for more money, but that money does not have much value to her, not nearly as much as how much she enjoys her current company. And asking for more money from her current company, when she doesn't hold much value for it, is pointless as well.
"Wanting Red Rhino Pill to have gender"
lewis20
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2/21/2011 5:13:30 PM
Posted: 5 years ago
At 2/21/2011 4:58:49 PM, Thaddeus wrote:
The market fines sexism. If you are sexist and choose to hire a man who is less able than a woman you will get worse output, and less profit. Any pay gap which isn't due to woman's choice is already being punished.

That
also that is an awesome cat
"If you are a racist I will attack you with the north"- Abraham Lincoln

"Do not wear clothing woven of two kinds of material" - Leviticus 19 19

"War is a racket" - Smedley Butler
lewis20
Posts: 5,093
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2/21/2011 5:18:30 PM
Posted: 5 years ago
At 2/21/2011 5:13:14 PM, OreEle wrote:
At 2/21/2011 4:50:43 PM, lewis20 wrote:
At 2/21/2011 4:46:41 PM, OreEle wrote:
At 2/21/2011 4:25:31 PM, lewis20 wrote:
At 2/21/2011 4:21:51 PM, OreEle wrote:
I'll turn to my mom for an example (I know it is anecdotal, just hear it out). She is a VP of finance for a company (over $150 million in revenue a year) and she makes a decent amount of money. However, if she wanted, she could make a lot more by going to a different company, or by holding out against her current one, asking for more money. But she chooses not to. Show could probably make about twice what she is making now.

Your mom doesn't like money? or she's too nice to ask for more? even though she deserves more, I'm confused.

She likes her job and is happy with the amount of money she makes. Whats not to get?

Kind of like, she can also afford a much nicer car then she currently has, but she doesn't, not because she has anything against new cars, but because she is happy with her current car.

She could use the money to give to her favorite charity, she could invest it, she could save the extra money for her kids or grandkids college fund. I rarely hear of someone working for a salary half as much as they deserve simply because they don't want more money.

What you can get =/= what you deserve.

And you're right, there are alot of things that she could choose to do with that extra money, but it also makes sense and is current with supply and demand theory for pay rates. People will work harder to make more money, but they eventually hit a level where they have all the money they want and so have no desire to work for more.

Basically, if you have $100 million in your bank, and are making $8 million a year from dividends, the value of $20 to you is not the same as the value of $20 to someone make minimum wage. And so the desire to work for the extra money is much less (since it is not worth anything to you, as it would be for someone making minimum wage).

So yes, my mom could work somewhere else for more money, but that money does not have much value to her, not nearly as much as how much she enjoys her current company. And asking for more money from her current company, when she doesn't hold much value for it, is pointless as well.

Sorry I thought you said that what she currently did for her current company is worthy of nearly twice the salary with said company. In which case I didn't think there was an opportunity cost (what you are describing) to her gaining the income she deserved for the job she was currently doing for the current company.
"If you are a racist I will attack you with the north"- Abraham Lincoln

"Do not wear clothing woven of two kinds of material" - Leviticus 19 19

"War is a racket" - Smedley Butler