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$15 per hr minimum wage

ken1122
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7/4/2017 3:34:40 AM
Posted: 1 year ago
Proponents of raising the minimum wage to $15 per hr seem to think this will allow those making minimum wage to have more spending money, and that this increase in spending money they make will come from the profits of the rich fat cats who own the business the minimum wage worker works for. I don"t think it works that way; the rich fat cat business owner will simply pass those added costs on to the customer which will result in an increased cost of goods and services/inflation. IOW if you raise the minimum wage from (for example) $10 per hr to $15 per hr; a 50% increase, it will result in a 50% increase for everybody else"s wages (the minimum wage workers supervisor will not be willing to work for the same wage his subordinate with less responsibility is working for) which will result in increased costs for goods and services; so at the end of the day, the new wage of $15 per hr will have the same buying power as the previous $10 per hr had before. Am I missing something here?
John_C_1812
Posts: 1,433
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7/5/2017 12:25:59 PM
Posted: 1 year ago
At 7/4/2017 3:34:40 AM, ken1122 wrote:
Am I missing something here?

The raising of minimum wage is legislated by vote throughout the state. This means the prevailing wage is increased also legislated through the vote as well. So the bureaucracy passes both cost on to the taxpayer. In some conditions but not all the taxpayer is paying a double tax by calling one tax a wage increase at the minimum earnings level. Tax on wealth is always called the rich tax to support higher employee wages. The second taxation is to support the cause of spending in bureaucratic to create the added burden.

Business drops a price to liquidate inventory so the public may receive a reduced price, while the bureaucracy then has to negotiate taxation. The taxpayer is paying for its own raise and not the cost to insure impartiality in United States Constitution. The end results are greater workloads for less money and greater burdens placed on maintaining non-bias in politics..
dc0404
Posts: 287
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7/5/2017 1:24:21 PM
Posted: 1 year ago
At 7/4/2017 3:34:40 AM, ken1122 wrote:
Proponents of raising the minimum wage to $15 per hr seem to think this will allow those making minimum wage to have more spending money, and that this increase in spending money they make will come from the profits of the rich fat cats who own the business the minimum wage worker works for. I don"t think it works that way; the rich fat cat business owner will simply pass those added costs on to the customer which will result in an increased cost of goods and services/inflation. IOW if you raise the minimum wage from (for example) $10 per hr to $15 per hr; a 50% increase, it will result in a 50% increase for everybody else"s wages (the minimum wage workers supervisor will not be willing to work for the same wage his subordinate with less responsibility is working for) which will result in increased costs for goods and services; so at the end of the day, the new wage of $15 per hr will have the same buying power as the previous $10 per hr had before. Am I missing something here?

What you describe is a likely outcome. I do get tired of people referring to all business owners as a type of "rich fat cat" though. That is simply not the case in most businesses. The government, through subsidies, policies and laws make doing business and hiring workers extremely expensive. If the government raises the cost to hire people, then the result is less people will be hired, hours will be cut, and raises that would have been given will not be given. Unless you have run a business, you likely have no idea how expensive it is to do so, especially in crappy political states like California. What the government advertises as helping individuals not only hurts businesses, but it hurts the individuals and their counterparts that it is trying to help.

DC
FanboyMctroll
Posts: 6,085
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7/12/2017 5:45:32 PM
Posted: 1 year ago
At 7/5/2017 1:24:21 PM, dc0404 wrote:
At 7/4/2017 3:34:40 AM, ken1122 wrote:
Proponents of raising the minimum wage to $15 per hr seem to think this will allow those making minimum wage to have more spending money, and that this increase in spending money they make will come from the profits of the rich fat cats who own the business the minimum wage worker works for. I don"t think it works that way; the rich fat cat business owner will simply pass those added costs on to the customer which will result in an increased cost of goods and services/inflation. IOW if you raise the minimum wage from (for example) $10 per hr to $15 per hr; a 50% increase, it will result in a 50% increase for everybody else"s wages (the minimum wage workers supervisor will not be willing to work for the same wage his subordinate with less responsibility is working for) which will result in increased costs for goods and services; so at the end of the day, the new wage of $15 per hr will have the same buying power as the previous $10 per hr had before. Am I missing something here?

What you describe is a likely outcome. I do get tired of people referring to all business owners as a type of "rich fat cat" though. That is simply not the case in most businesses. The government, through subsidies, policies and laws make doing business and hiring workers extremely expensive. If the government raises the cost to hire people, then the result is less people will be hired, hours will be cut, and raises that would have been given will not be given. Unless you have run a business, you likely have no idea how expensive it is to do so, especially in crappy political states like California. What the government advertises as helping individuals not only hurts businesses, but it hurts the individuals and their counterparts that it is trying to help.

DC

Open up a pot shop, since weed will be legal everywhere anyways soon, I'm sure you can make some serious money selling pot
ken1122
Posts: 1,681
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7/13/2017 4:43:16 AM
Posted: 1 year ago
At 7/12/2017 5:45:32 PM, FanboyMctroll wrote:
At 7/5/2017 1:24:21 PM, dc0404 wrote:
At 7/4/2017 3:34:40 AM, ken1122 wrote:
Proponents of raising the minimum wage to $15 per hr seem to think this will allow those making minimum wage to have more spending money, and that this increase in spending money they make will come from the profits of the rich fat cats who own the business the minimum wage worker works for. I don"t think it works that way; the rich fat cat business owner will simply pass those added costs on to the customer which will result in an increased cost of goods and services/inflation. IOW if you raise the minimum wage from (for example) $10 per hr to $15 per hr; a 50% increase, it will result in a 50% increase for everybody else"s wages (the minimum wage workers supervisor will not be willing to work for the same wage his subordinate with less responsibility is working for) which will result in increased costs for goods and services; so at the end of the day, the new wage of $15 per hr will have the same buying power as the previous $10 per hr had before. Am I missing something here?

What you describe is a likely outcome. I do get tired of people referring to all business owners as a type of "rich fat cat" though. That is simply not the case in most businesses. The government, through subsidies, policies and laws make doing business and hiring workers extremely expensive. If the government raises the cost to hire people, then the result is less people will be hired, hours will be cut, and raises that would have been given will not be given. Unless you have run a business, you likely have no idea how expensive it is to do so, especially in crappy political states like California. What the government advertises as helping individuals not only hurts businesses, but it hurts the individuals and their counterparts that it is trying to help.

DC

Open up a pot shop, since weed will be legal everywhere anyways soon, I'm sure you can make some serious money selling pot

And what does opening a pot shop have to do with the subject at hand?
dc0404
Posts: 287
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7/13/2017 8:33:08 PM
Posted: 1 year ago
At 7/13/2017 4:43:16 AM, ken1122 wrote:
At 7/12/2017 5:45:32 PM, FanboyMctroll wrote:
At 7/5/2017 1:24:21 PM, dc0404 wrote:
At 7/4/2017 3:34:40 AM, ken1122 wrote:
Proponents of raising the minimum wage to $15 per hr seem to think this will allow those making minimum wage to have more spending money, and that this increase in spending money they make will come from the profits of the rich fat cats who own the business the minimum wage worker works for. I don"t think it works that way; the rich fat cat business owner will simply pass those added costs on to the customer which will result in an increased cost of goods and services/inflation. IOW if you raise the minimum wage from (for example) $10 per hr to $15 per hr; a 50% increase, it will result in a 50% increase for everybody else"s wages (the minimum wage workers supervisor will not be willing to work for the same wage his subordinate with less responsibility is working for) which will result in increased costs for goods and services; so at the end of the day, the new wage of $15 per hr will have the same buying power as the previous $10 per hr had before. Am I missing something here?

What you describe is a likely outcome. I do get tired of people referring to all business owners as a type of "rich fat cat" though. That is simply not the case in most businesses. The government, through subsidies, policies and laws make doing business and hiring workers extremely expensive. If the government raises the cost to hire people, then the result is less people will be hired, hours will be cut, and raises that would have been given will not be given. Unless you have run a business, you likely have no idea how expensive it is to do so, especially in crappy political states like California. What the government advertises as helping individuals not only hurts businesses, but it hurts the individuals and their counterparts that it is trying to help.

DC

Open up a pot shop, since weed will be legal everywhere anyways soon, I'm sure you can make some serious money selling pot

And what does opening a pot shop have to do with the subject at hand?

The higher minimum wage will make it more attractive for employers to eliminate staff in order to ensure they generate necessary and adequate net income. Apparently there is data supporting that in states where minimum wage has risen, the net result for the employee is less money due to reduced hours. Low skilled people are now making less as a result of less hours. If unskilled labor gets more expensive, it will reduce the demand for low skilled workers and jobs will become more scarce.

The economics of raising minimum wage are mostly bad and not sustainable.

DC
ken1122
Posts: 1,681
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7/14/2017 2:20:05 AM
Posted: 1 year ago
At 7/13/2017 8:33:08 PM, dc0404 wrote:
At 7/13/2017 4:43:16 AM, ken1122 wrote:
At 7/12/2017 5:45:32 PM, FanboyMctroll wrote:
At 7/5/2017 1:24:21 PM, dc0404 wrote:
At 7/4/2017 3:34:40 AM, ken1122 wrote:
Proponents of raising the minimum wage to $15 per hr seem to think this will allow those making minimum wage to have more spending money, and that this increase in spending money they make will come from the profits of the rich fat cats who own the business the minimum wage worker works for. I don"t think it works that way; the rich fat cat business owner will simply pass those added costs on to the customer which will result in an increased cost of goods and services/inflation. IOW if you raise the minimum wage from (for example) $10 per hr to $15 per hr; a 50% increase, it will result in a 50% increase for everybody else"s wages (the minimum wage workers supervisor will not be willing to work for the same wage his subordinate with less responsibility is working for) which will result in increased costs for goods and services; so at the end of the day, the new wage of $15 per hr will have the same buying power as the previous $10 per hr had before. Am I missing something here?

What you describe is a likely outcome. I do get tired of people referring to all business owners as a type of "rich fat cat" though. That is simply not the case in most businesses. The government, through subsidies, policies and laws make doing business and hiring workers extremely expensive. If the government raises the cost to hire people, then the result is less people will be hired, hours will be cut, and raises that would have been given will not be given. Unless you have run a business, you likely have no idea how expensive it is to do so, especially in crappy political states like California. What the government advertises as helping individuals not only hurts businesses, but it hurts the individuals and their counterparts that it is trying to help.

DC

Open up a pot shop, since weed will be legal everywhere anyways soon, I'm sure you can make some serious money selling pot

And what does opening a pot shop have to do with the subject at hand?

The higher minimum wage will make it more attractive for employers to eliminate staff in order to ensure they generate necessary and adequate net income. Apparently there is data supporting that in states where minimum wage has risen, the net result for the employee is less money due to reduced hours. Low skilled people are now making less as a result of less hours. If unskilled labor gets more expensive, it will reduce the demand for low skilled workers and jobs will become more scarce.

The economics of raising minimum wage are mostly bad and not sustainable.

DC

What does all of that have to do with opening a pot shop as apposed to any other type of shop?
dc0404
Posts: 287
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7/14/2017 2:30:37 AM
Posted: 1 year ago
At 7/14/2017 2:20:05 AM, ken1122 wrote:
At 7/13/2017 8:33:08 PM, dc0404 wrote:
At 7/13/2017 4:43:16 AM, ken1122 wrote:
At 7/12/2017 5:45:32 PM, FanboyMctroll wrote:
At 7/5/2017 1:24:21 PM, dc0404 wrote:
At 7/4/2017 3:34:40 AM, ken1122 wrote:
Proponents of raising the minimum wage to $15 per hr seem to think this will allow those making minimum wage to have more spending money, and that this increase in spending money they make will come from the profits of the rich fat cats who own the business the minimum wage worker works for. I don"t think it works that way; the rich fat cat business owner will simply pass those added costs on to the customer which will result in an increased cost of goods and services/inflation. IOW if you raise the minimum wage from (for example) $10 per hr to $15 per hr; a 50% increase, it will result in a 50% increase for everybody else"s wages (the minimum wage workers supervisor will not be willing to work for the same wage his subordinate with less responsibility is working for) which will result in increased costs for goods and services; so at the end of the day, the new wage of $15 per hr will have the same buying power as the previous $10 per hr had before. Am I missing something here?

What you describe is a likely outcome. I do get tired of people referring to all business owners as a type of "rich fat cat" though. That is simply not the case in most businesses. The government, through subsidies, policies and laws make doing business and hiring workers extremely expensive. If the government raises the cost to hire people, then the result is less people will be hired, hours will be cut, and raises that would have been given will not be given. Unless you have run a business, you likely have no idea how expensive it is to do so, especially in crappy political states like California. What the government advertises as helping individuals not only hurts businesses, but it hurts the individuals and their counterparts that it is trying to help.

DC

Open up a pot shop, since weed will be legal everywhere anyways soon, I'm sure you can make some serious money selling pot

And what does opening a pot shop have to do with the subject at hand?

The higher minimum wage will make it more attractive for employers to eliminate staff in order to ensure they generate necessary and adequate net income. Apparently there is data supporting that in states where minimum wage has risen, the net result for the employee is less money due to reduced hours. Low skilled people are now making less as a result of less hours. If unskilled labor gets more expensive, it will reduce the demand for low skilled workers and jobs will become more scarce.

The economics of raising minimum wage are mostly bad and not sustainable.

DC

What does all of that have to do with opening a pot shop as apposed to any other type of shop?

Well, obviously the pot shop could not afford to hire low skilled workers, duh!

DC
ken1122
Posts: 1,681
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7/14/2017 2:41:02 AM
Posted: 1 year ago
At 7/14/2017 2:30:37 AM, dc0404 wrote:
At 7/14/2017 2:20:05 AM, ken1122 wrote:
At 7/13/2017 8:33:08 PM, dc0404 wrote:
At 7/13/2017 4:43:16 AM, ken1122 wrote:
At 7/12/2017 5:45:32 PM, FanboyMctroll wrote:
At 7/5/2017 1:24:21 PM, dc0404 wrote:
At 7/4/2017 3:34:40 AM, ken1122 wrote:
Proponents of raising the minimum wage to $15 per hr seem to think this will allow those making minimum wage to have more spending money, and that this increase in spending money they make will come from the profits of the rich fat cats who own the business the minimum wage worker works for. I don"t think it works that way; the rich fat cat business owner will simply pass those added costs on to the customer which will result in an increased cost of goods and services/inflation. IOW if you raise the minimum wage from (for example) $10 per hr to $15 per hr; a 50% increase, it will result in a 50% increase for everybody else"s wages (the minimum wage workers supervisor will not be willing to work for the same wage his subordinate with less responsibility is working for) which will result in increased costs for goods and services; so at the end of the day, the new wage of $15 per hr will have the same buying power as the previous $10 per hr had before. Am I missing something here?

What you describe is a likely outcome. I do get tired of people referring to all business owners as a type of "rich fat cat" though. That is simply not the case in most businesses. The government, through subsidies, policies and laws make doing business and hiring workers extremely expensive. If the government raises the cost to hire people, then the result is less people will be hired, hours will be cut, and raises that would have been given will not be given. Unless you have run a business, you likely have no idea how expensive it is to do so, especially in crappy political states like California. What the government advertises as helping individuals not only hurts businesses, but it hurts the individuals and their counterparts that it is trying to help.

DC

Open up a pot shop, since weed will be legal everywhere anyways soon, I'm sure you can make some serious money selling pot

And what does opening a pot shop have to do with the subject at hand?

The higher minimum wage will make it more attractive for employers to eliminate staff in order to ensure they generate necessary and adequate net income. Apparently there is data supporting that in states where minimum wage has risen, the net result for the employee is less money due to reduced hours. Low skilled people are now making less as a result of less hours. If unskilled labor gets more expensive, it will reduce the demand for low skilled workers and jobs will become more scarce.

The economics of raising minimum wage are mostly bad and not sustainable.

DC

What does all of that have to do with opening a pot shop as apposed to any other type of shop?

Well, obviously the pot shop could not afford to hire low skilled workers, duh!

DC

Are you under the impression that only pot shops are unable to afford to hire low skilled workers?
dc0404
Posts: 287
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7/14/2017 3:12:56 AM
Posted: 1 year ago
At 7/4/2017 3:34:40 AM, ken1122 wrote:
Proponents of raising the minimum wage to $15 per hr seem to think this will allow those making minimum wage to have more spending money, and that this increase in spending money they make will come from the profits of the rich fat cats who own the business the minimum wage worker works for. I don"t think it works that way; the rich fat cat business owner will simply pass those added costs on to the customer which will result in an increased cost of goods and services/inflation. IOW if you raise the minimum wage from (for example) $10 per hr to $15 per hr; a 50% increase, it will result in a 50% increase for everybody else"s wages (the minimum wage workers supervisor will not be willing to work for the same wage his subordinate with less responsibility is working for) which will result in increased costs for goods and services; so at the end of the day, the new wage of $15 per hr will have the same buying power as the previous $10 per hr had before. Am I missing something here?

Hopefully this helps if I respond to your original post...

What you describe is a likely outcome. I do get tired of people referring to all business owners as a type of "rich fat cat" though. That is simply not the case in most businesses. The government, through subsidies, policies and laws make doing business and hiring workers extremely expensive. If the government raises the cost to hire people, then the result is less people will be hired, hours will be cut, and raises that would have been given will not be given. Unless you have run a business, you likely have no idea how expensive it is to do so, especially in crappy political states like California. What the government advertises as helping individuals not only hurts businesses, but it hurts the individuals and their counterparts that it is trying to help.

The higher minimum wage will make it more attractive for employers to eliminate staff in order to ensure they generate necessary and adequate net income. Apparently there is data supporting that in states where minimum wage has risen, the net result for the employee is less money due to reduced hours. Low skilled people are now making less as a result of less hours. If unskilled labor gets more expensive, it will reduce the demand for low skilled workers and jobs will become more scarce.

The economics of raising minimum wage are mostly bad and not sustainable.


To add, to your point, prices will be raised in order to protect margins and/or efficiencies will be considered such as McDonalds investing in payment kiosks to eliminate low skilled workers. So you are correct that prices will be raised. But the "rich fat cats" as you say are not the issue, the government is. The government is the culprit that has made hiring of employees extremely expensive. Unless you have owned a business, you likely would not understand.

DC
FanboyMctroll
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7/26/2017 5:50:52 PM
Posted: 1 year ago
Minimum wage is going up because as it stands right now people who ear it can't afford to live on it, this way they can make more money, sure employers and small businesses won't be able to afford all the employees but they will still need employees so not all of them will lose jobs.

This is especially helpful for employees who work for these billion dollar corporations that employ slave labor like Walmart, Costco, Best Buy.

All making billions of dollars of the backs of minimum wage employees. I think this is a great move for all employees slaving at minimum wage right now.
dc0404
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7/28/2017 12:58:14 AM
Posted: 1 year ago
At 7/26/2017 5:50:52 PM, FanboyMctroll wrote:
Minimum wage is going up because as it stands right now people who ear it can't afford to live on it, this way they can make more money, sure employers and small businesses won't be able to afford all the employees but they will still need employees so not all of them will lose jobs.

This is especially helpful for employees who work for these billion dollar corporations that employ slave labor like Walmart, Costco, Best Buy.

All making billions of dollars of the backs of minimum wage employees. I think this is a great move for all employees slaving at minimum wage right now.

Sometimes you all talk as if the unskilled worker has no responsibility. To expect a higher minimum wage with no additional skills, or no real skills whatsoever, makes no sense. If the wages are hiked anyway, then it is a handout, an expectation by the worker, and in the end an entitlement. Entitlements are a big problem because it takes away the incentive to work, to get better, to increase skills, to work hard and be responsible. If you take away the incentive to work by the worker and you also squeeze the employer so they don't invest, then everyone loses.

Stop talking about the mega-billion corporations, those are only a few compared to the tens of thousands of small businesses, hiking minimum wage makes absolutely NO SENSE and it will end up hurting everyone, but mostly it will hurt the people it is supposed to help, guaranteed!

DC
FanboyMctroll
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7/28/2017 1:43:43 PM
Posted: 1 year ago
Stop talking about the mega-billion corporations, those are only a few compared to the tens of thousands of small businesses, hiking minimum wage makes absolutely NO SENSE and it will end up hurting everyone, but mostly it will hurt the people it is supposed to help, guaranteed!

DC

The only people it will hurt is the CEO's of the many and many greedy corporations like Walmart and Walgreens and Publixs and on and on that I can mention, because they won't make their billion dollar bonuses on the back of the hard working minimum wage workers.

I stand for the people, Down with the greed of these mega corporations, as for the small businesses, c'mon you will still need to hire people, cry me a river if this is going to affect you. For the common minimum wage Joe I say you deserve it and FU slave driving cheap skate minimum wage paying employers!!
dc0404
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7/29/2017 4:00:20 AM
Posted: 1 year ago
At 7/28/2017 1:43:43 PM, FanboyMctroll wrote:
Stop talking about the mega-billion corporations, those are only a few compared to the tens of thousands of small businesses, hiking minimum wage makes absolutely NO SENSE and it will end up hurting everyone, but mostly it will hurt the people it is supposed to help, guaranteed!

DC

The only people it will hurt is the CEO's of the many and many greedy corporations like Walmart and Walgreens and Publixs and on and on that I can mention, because they won't make their billion dollar bonuses on the back of the hard working minimum wage workers.

I stand for the people, Down with the greed of these mega corporations, as for the small businesses, c'mon you will still need to hire people, cry me a river if this is going to affect you. For the common minimum wage Joe I say you deserve it and FU slave driving cheap skate minimum wage paying employers!!

The people will be best helped by eliminating a minimum wage law altogether. There will be some short term pain, but it will end up with employers competing for employees, and employees competing for employers. In many businesses, minimum wage is a non issue since many businesses only hired skilled professionals or skilled laborers which is required for the job, and all the wage earners are well above minimum wage anyway, due to job requirements.

DC
ken1122
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8/15/2017 12:57:23 PM
Posted: 1 year ago
At 7/28/2017 1:43:43 PM, FanboyMctroll wrote:
Stop talking about the mega-billion corporations, those are only a few compared to the tens of thousands of small businesses, hiking minimum wage makes absolutely NO SENSE and it will end up hurting everyone, but mostly it will hurt the people it is supposed to help, guaranteed!

DC

The only people it will hurt is the CEO's of the many and many greedy corporations like Walmart and Walgreens and Publixs and on and on that I can mention, because they won't make their billion dollar bonuses on the back of the hard working minimum wage workers.

But when you raise the minimum wage, everybody gets a raise; even the CEO's due to the decreased buying power. Everybody getting a raise equals nobody getting a raise; how does that help anything?
FanboyMctroll
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8/15/2017 1:23:21 PM
Posted: 1 year ago
With today's average cost of inflation going up at about 4%/year most workers are struggling to get by, because most raises, if you are lucky to get one are around 2%/year, therefore the average worker is actually getting poorer, that is why the middle class is disappearing. Soon we will just have the filthy rich and the poor, kind of like in England in the middle ages, you had the royals and peasants. That is what is happening now.

Therefore any type of increase to minimum wage for me is a win for the people, they are struggling everyday to put food on the table and pay their ridiculously expensive utilities and just trying to survive, I say FU corporate America, I'm all for the people making a decent wage for themselves and their families!!! And FU banks, and CEO's of these billion dollar corporations!!!
ken1122
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8/18/2017 3:02:24 AM
Posted: 1 year ago
At 8/15/2017 1:23:21 PM, FanboyMctroll wrote:
With today's average cost of inflation going up at about 4%/year most workers are struggling to get by, because most raises, if you are lucky to get one are around 2%/year, therefore the average worker is actually getting poorer, that is why the middle class is disappearing.
Inflation is actually below 2% As a matter of fact, over the past 10 years, only once has it gone over 3%.
http://www.usinflationcalculator.com...
So going by the figures you provided a person getting a 2% raise per year is getting ahead of inflation.
FanboyMctroll
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8/18/2017 1:21:14 PM
Posted: 1 year ago
I agree you might have a point there, BUT not everyone gets a 2% raise every year, only some people. There are workers who haven't got a raise in 5 years.

Bottom line is the middle class is disappearing and the 1% of the richest people in the world own more wealth then the 99% of the population combined. HOW sad is that!!!

I say it's time for a revolution, like the French Revolution of 1794, bring the guillotine out, I will even operate it, the 1% need to all be guillotined and their wealth should be shared with the 99% of people struggling to make a living

FU CEO'S and Corporations, you will all burn!!!
ken1122
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8/18/2017 9:22:19 PM
Posted: 1 year ago
At 8/18/2017 1:21:14 PM, FanboyMctroll wrote:
I agree you might have a point there, BUT not everyone gets a 2% raise every year, only some people. There are workers who haven't got a raise in 5 years.

Yeah" then there are others who get raises every year. It kinda balances out.
Bottom line is the middle class is disappearing
With unemployment down and wages up, the middle class has more employment options now than they"ve had in years
and the 1% of the richest people in the world own more wealth then the 99% of the population combined. HOW sad is that!!!
The 1% are the ones paying all the taxes! Currently only half the population pays federal income taxes;
http://www.dailymail.co.uk...
take away their money, and everybody will have to pay. HOW sad is that!!!
AngleWyrm
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10/27/2017 6:02:37 AM
Posted: 12 months ago
At 8/18/2017 3:02:24 AM, ken1122 wrote:
At 8/15/2017 1:23:21 PM, FanboyMctroll wrote:
With today's average cost of inflation going up at about 4%/year most workers are struggling to get by, because most raises, if you are lucky to get one are around 2%/year, therefore the average worker is actually getting poorer, that is why the middle class is disappearing.
Inflation is actually below 2% As a matter of fact, over the past 10 years, only once has it gone over 3%.

The target of the US Treasury is an inflation rate of 3%; the amount of stuff a dollar can buy drops by 3% per year. Or to put it another way, it will take 3% more dollars per year to buy the same stuff.

That also means that if you have money in a bank, the first 3% of their interest payment to you for holding your money is merely maintenance.
NCdavidB
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11/6/2017 6:31:30 AM
Posted: 11 months ago
At 7/4/2017 3:34:40 AM, ken1122 wrote:
Am I missing something here?

John grows corn, Bill makes gasoline, and Betty creates electricity. Resources like this on a large scale trade with each other at equal values and can be represented by a pyramid. If one corner of the pyramid grows due to higher expenses in their industry, the others will also grow to match. John, Bill and Betty never gain an edge in profit this way.

If the tax man takes 30% of earnings and all corners of this cost pyramid rise, the tax man makes more profit. Increasing minimum wage results in more tax money being collected each year.
augcaesarustus
Posts: 383
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12/5/2017 9:34:23 AM
Posted: 10 months ago
The problem with a minimum wage is that low-skilled jobs are no longer 'low-skilled' jobs. Because the cost of labour is high, employers will almost always require some experience, even if the job doesn't require experience.

This issue tends to be more prevalent among adults who don't have much experience. Since they can't access the junior rate (in some countries they have this), they are priced out of the market, and are stuck in state of perpetual flux.

I've personally experienced this. I'd love to walk up to a cafe owner and say: "hey, can you give me a job; I don't have much experience, but I'll work for $5 p/h." Of course, if you're raising a family, then this is too low.
011324
Posts: 1
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1/29/2018 10:38:21 PM
Posted: 8 months ago
The U.S. government should not raise the federal minimum wage for several reasons. First of all, raising the minimum wage creates unemployment. James Sherk, a labor economist at the Heritage Foundation, estimates that raising the federal minimum wage to $15 an hour would cost 9 million American jobs. Secondly, raising the minimum wage would not reduce poverty. Economists have found that over three-fifths of individuals living below the poverty line are in poverty not because of low wages, but because they are unemployed. Raising the minimum wage would only increase unemployment, therefore increasing the number of people living in poverty. Thirdly, economists have found that a vast majority of people who live on the minimum wage do not live in poverty. This is because a majority of minimum wage workers are between the ages of 16 and 24 - workers who are not the main supporters of their families. These are people who are simply getting work experience or earning some money to go to the movies, not putting food on the table. This is why the average family income of a minimum wage worker is $50,000 - well above the poverty line of $25,100 for a family of four. Lastly, raising the minimum wage forces businesses to raise the prices of their products, which causes inflation. Although people will have higher wages in the short run, prices will eventually increase until minimum wage workers have the same purchasing power as before, defeating the intended purpose of raising the minimum wage.
Leaning
Posts: 1,818
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1/30/2018 5:23:40 AM
Posted: 8 months ago
Don't think you are missing it.

Couldn't they just rage minimum wage literally in the form of food, rent, and less time at work?

If you have a place to live, food to eat, time, and a bit of spending money, isn't that enough? You can rise in life if you choose or enjoy base security.

Politicians always saying a chicken in every pot, but pretty sure they are talking about money not literal chickens.

From what I've heard if you raise minimum wage, people raise prices of living.
VantageEcon
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1/30/2018 3:14:57 PM
Posted: 8 months ago
The current federal minimum wage of $7.25 has both divided politics and greatly influenced the quality of life of low-wage, working citizens in the United States. Although there are many emotional appeals to raise the current federal minimum wage, appeals to logic demonstrate that raising this wage will lead to detrimental consequences for the economic future of the United States. With an appeal to logic, raising the current federal minimum wage creates unemployment, will not reduce poverty, and increases welfare spending-- resulting in an increase in taxes for all. Studies in macroeconomics demonstrates that raising the federal minimum wage creates inefficiencies with a surplus of workers and unemployment. According to James Sherk, a labor economist at the Heritage Foundation, an increase in wage from $7.25 to $15.00 will lead to the "loss of 9 million jobs." With this unemployment, it is likely that the unemployed will turn to welfare, resulting in an increase in taxes for all. Furthermore, raising the minimum wage is not the best solution to reducing poverty. In fact, economist have found that "60 percent of people living below the poverty line are unemployed." The problem of poverty lies among unemployment, rather than the wage most are earning. The rhetorical appeals of logos and ethos provide the best evidence over emotional impulse that the current federal minimum wage of $7.25 should not be raised.
BillSPrestonEsq
Posts: 285
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2/3/2018 2:51:02 AM
Posted: 8 months ago
At 7/4/2017 3:34:40 AM, ken1122 wrote:
Proponents of raising the minimum wage to $15 per hr seem to think this will allow those making minimum wage to have more spending money, and that this increase in spending money they make will come from the profits of the rich fat cats who own the business the minimum wage worker works for. I don"t think it works that way; the rich fat cat business owner will simply pass those added costs on to the customer which will result in an increased cost of goods and services/inflation. IOW if you raise the minimum wage from (for example) $10 per hr to $15 per hr; a 50% increase, it will result in a 50% increase for everybody else"s wages (the minimum wage workers supervisor will not be willing to work for the same wage his subordinate with less responsibility is working for) which will result in increased costs for goods and services; so at the end of the day, the new wage of $15 per hr will have the same buying power as the previous $10 per hr had before. Am I missing something here?


Hey, I think that this article gives a good rundown of what theoretically should happen. http://www.dollarsandsense.org...

I think the main thing to think of is that the whole economy would be paying more for the same largely 'unskilled' labor. Ultimately, prices on average must rise if more money is being spent for the same amount of production. Even for those receiving the raise prices on average must become higher, potentially negating their rise in income.
ViceRegent
Posts: 1,117
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3/10/2018 8:36:38 PM
Posted: 7 months ago
There is one reason why Dems love raising minimum wage: it is a win-win for them.

When workers who are not worth the higher wage lose their jobs, the Dems make them dependent on government and life-long Dem voters, creating the permanent underclass Dems need to keep getting elected.

When a worker keeps his job at the high wage, the Dems take credit for getting them more money without any extra work, making life-long Dem voters.

The sane should oppose it on both grounds.
desmac
Posts: 7,392
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3/10/2018 9:22:49 PM
Posted: 7 months ago
At 3/10/2018 8:36:38 PM, ViceRegent wrote:
There is one reason why Dems love raising minimum wage: it is a win-win for them.

When workers who are not worth the higher wage lose their jobs, the Dems make them dependent on government and life-long Dem voters, creating the permanent underclass Dems need to keep getting elected.

When a worker keeps his job at the high wage, the Dems take credit for getting them more money without any extra work, making life-long Dem voters.

The sane should oppose it on both grounds.

People like Vice Rectum cannot even get minimum wage jobs.
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