Could you argue these reasons, and if so, what are your rebuttals?

Posted by: retrogamer176

http://www.addictinginfo.org/2015/04/07/robert-reich-gives-us-7-reasons-why-the-minimum-wage-should-be-raised-to-15-video/

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8 Total Votes
1

Yes, I can argue ALL of them!

3 votes
1 comment
2

Raize the fricken wage!!!!

3 votes
0 comments
3

Well, I can argue some of them...

1 vote
1 comment
4

I can't argue any of these, but you should still keep the wage.

1 vote
1 comment
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Diqiucun_Cunmin says2015-04-07T22:47:11.5658551-05:00
@Mathgeekjoe: The primary problem I find with that is that the effects are hard to predict, assuming imperfect information. Decreasing profits tax will increase investment incentive and thus push up the demand for workers, thereby increasing the equilibrium wage rate, but how much the wage will rise depends on how much the demand curve will shift as well as how elastic the supply is. Imposing a wage floor, in contrast, guarantees that wages will rise.
Mathgeekjoe says2015-04-07T22:53:35.2716760-05:00
I do not think you understand what I was saying, I would like the taxes to be lowered based on the increase in worker's wages.
retrogamer176 says2015-04-07T22:57:18.1528533-05:00
@mathgeek so what you're saying is, the lower the wage, the higher the taxes?
retrogamer176 says2015-04-07T22:58:44.8788784-05:00
If so, it sounds good in theory, but I think we should take MAJOR precautions before attempting this.
Mathgeekjoe says2015-04-07T23:01:59.7503743-05:00
Exactly what are the precautions you propose?
retrogamer176 says2015-04-07T23:05:04.3050100-05:00
Make the minimum wage increase "Plan B" in the bill. Make it so that, if your method turns out to be disastrous, congress should have the power to completely repeal that part at least 2 years after passing, without passing another law to repeal it.
Mathgeekjoe says2015-04-07T23:06:12.4655143-05:00
How about this "plan B" if the companies don't increase their wages, we increase their taxes more.
retrogamer176 says2015-04-07T23:07:24.1453966-05:00
Uhh... That's Plan A.
Mathgeekjoe says2015-04-07T23:07:53.5359706-05:00
We increase the taxes drastically.
retrogamer176 says2015-04-07T23:10:33.2300995-05:00
The point of "Plan B" is so that Congress has a backpedal to go to if the method doesn't work. Plan B is useless if it's following Plan A.
Mathgeekjoe says2015-04-07T23:10:36.9272284-05:00
Question, if you were a company, would you rather pay a dollar to the government or a dollar to your worker?
Diqiucun_Cunmin says2015-04-08T01:27:46.7724697-05:00
@Mathgeekjoe: Sorry, I misunderstood your suggestion. You mean they get allowances/deductions on their profits tax if they raise workers' salaries? Not a bad idea in theory, though this is the first time I've heard of it. My gut feeling is that it will be pretty hard to implement, e.g. how to calculate the reductions based on workers' salaries? BTW, if you got your idea from somewhere, could you link to it?
Wylted says2015-04-08T05:37:34.4691916-05:00
I am not even sure what this is saying, but I can easily argue against the minimum wage. People that support the minimum wage, for one, are evil. It seems to increase the black unemployment rate while having no effect on the white unemployment rate, so the goal of raising it is clearly to hurt the black community. The same people typically support abortion which kills 50% of black babies, before they are even born. The same people actually support welfare, which destroys black families and creates more single parent homes than necessary. The same people support quotas in hiring, because they think blacks are too stupid to get a job without government intervention. So to answer the questions, I am opposed to minimum wage increases, because I am not a racist. What about you guys? Are you racist, do you support a wage increase?
retrogamer176 says2015-04-08T09:12:26.6650140-05:00
@wylted I put the article in the description. Did you read it?
benhos says2015-04-08T15:25:59.1510509-05:00
My only problem with raising the minimum wage is that that will cause manufacturers to raise their prices, causing companies and stores to raise their prices. Soon, the prices of everything will have raised, making it equal, if not worse, than before.
retrogamer176 says2015-04-08T15:58:31.6776234-05:00
@benhos Uhh... No. The prices rise because of inflation. Making the minimum wage, a living wage will not rise prices.
Diqiucun_Cunmin says2015-04-08T20:27:29.3105441-05:00
@retrogamer: Minimum wage can be a cause of inflation, as much as I support it. On a micro scale, the marginal cost of each additional product increases, so the supply decreases, and thus equilibrium price rises. On a macro scale, the cost of labour increases, so the short-run aggregate supply drops, so general price level increases.

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