$15 minimum wage would destroy 1.4 Million jobs

[Toddsterpatriot]

Pretty sure the proposal is for graduated increases over several years.
If you've other information please source it.

And why would that be, if not to mitigate the negative impact and give the market time to adjust? And that's the thing - the market will adjust. You can't just dictate the value of labor (or anything else) by passing a law. Once things settle, the relative value of low wage workers will be the same. To put it another way, when the government decrees that a $10/hr job will now pay $15/hr, all they've really said is that $15 is now worth $10. The real value of the labor in doesn't change. If society doesn't value burger-flipping enough for someone to raise a family flipping burgers, when all is done, whatever games you play with the numbers, society still won't value burger-flipping enough for someone to raise a family flipping burgers.

Inflation happens. Value changes in response to any inflation. Profit is what Capitalists must seek regardless if they want to stay in business.

Inflation happens. Value changes in response to any inflation.

Prices change, value remains the same.

 

[danielpalos]

Where does it say that?

It is the supply side paradigm. Supply, supply, supply.

IOW, you made it up like everything else.

A less superficial understanding of the concept than merely lowering taxes and reducing regulations. Goading Capitalists to improve efficiency and automate for their bottom line is also supply side economics. Increasing output to lower price per unit can be considered supply side economics.

 

[danielpalos]

60%+ of American workers earn $20/hr or less. Almost all of them will either get or demand a raise. That has a big effect on the market.

Yep. It will increase the cost of living and create inflation. So those 60% of workers are going to feel jilted to satisfy 3.5% of the workforce. That's what a Democrat considers success. That's why they should never be allowed power.

And they seem to think they can do it overnight with no negative impact at all.

Stock can double overnight with no consequences.

Oh, Lord have mercy. You have truly lost it. The sad thing is, you actually think there's a valid comparison there. Here's a hint, there isn't. Here's another one, stock prices aren't arbitrarily set by the government. It's sad, but I really have to explain this to you.

Is Value subjective or objective like price?

 

[danielpalos]

What was the purpose of the payroll tax cut?

Why are you bringing a temporary tax cut into the discussion?

After you've increased employment costs by 50%, how much is demand going to increase?

\

That is not how it works. Not all employees wages will be doubling. Price inflation for a burger at a fast food place will be five percent or less.

Where do you get your numbers? Cite the source please, and don't try to wander off into your vague generalities like you always do. And, since you're short on math, a 50% increase is not doubling.

The minimum wage would be doubling, approximately, from seven twenty-five an hour to fifteen dollars an hour. The point is that inflation happens yet right wingers only complain when the Poor may benefit and never seem to consider passing on that cost like they do for any other cost.

Here is something to consider regarding the cost of labor:

Fast food workers make a minimum of $20 hourly in Denmark, while in the US, their average hourly wage is $8.90, according to the Times report.

The Big Mac costs about $4.80 in the US and $5.60 in Denmark, according to the Times report.

Denmark McDonald's Workers Get Paid Vastly Higher Wages

McDonald's has warned that wage increases in the U.S. would force franchisees to raise menu prices.

www.businessinsider.com

 

[danielpalos]

Pretty sure the proposal is for graduated increases over several years.
If you've other information please source it.

And why would that be, if not to mitigate the negative impact and give the market time to adjust? And that's the thing - the market will adjust. You can't just dictate the value of labor (or anything else) by passing a law. Once things settle, the relative value of low wage workers will be the same. To put it another way, when the government decrees that a $10/hr job will now pay $15/hr, all they've really said is that $15 is now worth $10. The real value of the labor in doesn't change. If society doesn't value burger-flipping enough for someone to raise a family flipping burgers, when all is done, whatever games you play with the numbers, society still won't value burger-flipping enough for someone to raise a family flipping burgers.

And after the dust settles, they'll be back, complaining that $15/hr isn't enough and they'll want $20.

Inflation happens, regardless. Why don't right wingers complain more about corporations buying back their stock (from tax cuts) merely to increase the price instead of passing on some of that money for better wages? Why not let stock prices stagnate for around a decade like happened for the minimum wage.

 

[danielpalos]

The government can't force me to take labor that's more costly than value added.

You only need to try to maximize your profit regardless of costs.

If I could raise the price with no ill-effect, I would have done so already.

So how much should wages be for someone who adds $10/hour of value?

Show your calculations.

Show your calculations on how you arrived at the value they add.

Show your calculations on how you arrived at the value they add.

If you take $9 worth of materials and depreciation and turn it into a $20 product, you added
$11 in value. If it took you one hour to do it, what should your hourly wage be?

You have no control over any form of inflation.

Don't be stupid, I never claimed I did. Ever.

It also depends on the increase in productivity. You could increase the amount of product to reduce the price yet still pay labor more for that added value from productivity.

 

[danielpalos]

Price inflation for a burger at a fast food place will be five percent or less.

how much is demand going to increase?

Can you at least TRY to read what I actually posted?

Higher paid labor creates more in demand and generate more in tax revenue. The less wealthy tend to spend most of their income on goods and services. If a person making seven twenty-five an hour starts making fifteen dollars an hour, doesn't that mean they can afford to buy more of your product? We could assume that could buy twice as much as before. Or, at the very least, more than they do now.

 

[danielpalos]

Pretty sure the proposal is for graduated increases over several years.
If you've other information please source it.

And why would that be, if not to mitigate the negative impact and give the market time to adjust? And that's the thing - the market will adjust. You can't just dictate the value of labor (or anything else) by passing a law. Once things settle, the relative value of low wage workers will be the same. To put it another way, when the government decrees that a $10/hr job will now pay $15/hr, all they've really said is that $15 is now worth $10. The real value of the labor in doesn't change. If society doesn't value burger-flipping enough for someone to raise a family flipping burgers, when all is done, whatever games you play with the numbers, society still won't value burger-flipping enough for someone to raise a family flipping burgers.

Inflation happens. Value changes in response to any inflation. Profit is what Capitalists must seek regardless if they want to stay in business.

Inflation happens. Value changes in response to any inflation.

Prices change, value remains the same.

Price is objective, value is subjective.

 

[Toddsterpatriot]

The government can't force me to take labor that's more costly than value added.

You only need to try to maximize your profit regardless of costs.

If I could raise the price with no ill-effect, I would have done so already.

So how much should wages be for someone who adds $10/hour of value?

Show your calculations.

Show your calculations on how you arrived at the value they add.

Show your calculations on how you arrived at the value they add.

If you take $9 worth of materials and depreciation and turn it into a $20 product, you added
$11 in value. If it took you one hour to do it, what should your hourly wage be?

You have no control over any form of inflation.

Don't be stupid, I never claimed I did. Ever.

It also depends on the increase in productivity. You could increase the amount of product to reduce the price yet still pay labor more for that added value from productivity.

It also depends on the increase in productivity.

We're looking at productivity in this instant.

If you take $9 worth of materials and depreciation and turn it into a $20 product, you added
$11 in value. If it took you one hour to do it, what should your hourly wage be?

 

[Toddsterpatriot]

Price inflation for a burger at a fast food place will be five percent or less.

how much is demand going to increase?

Can you at least TRY to read what I actually posted?

Higher paid labor creates more in demand and generate more in tax revenue. The less wealthy tend to spend most of their income on goods and services. If a person making seven twenty-five an hour starts making fifteen dollars an hour, doesn't that mean they can afford to buy more of your product? We could assume that could buy twice as much as before. Or, at the very least, more than they do now.

Higher paid labor creates more in demand

You're lying.

and generate more in tax revenue.

And your math sucks.

If a person making seven twenty-five an hour starts making fifteen dollars an hour, doesn't that mean they can afford to buy more of your product?

So the extra $7.75 I pay in labor per hour will be made up by an extra $7.75 per hour in
purchases of my product?

 

[Toddsterpatriot]

Pretty sure the proposal is for graduated increases over several years.
If you've other information please source it.

And why would that be, if not to mitigate the negative impact and give the market time to adjust? And that's the thing - the market will adjust. You can't just dictate the value of labor (or anything else) by passing a law. Once things settle, the relative value of low wage workers will be the same. To put it another way, when the government decrees that a $10/hr job will now pay $15/hr, all they've really said is that $15 is now worth $10. The real value of the labor in doesn't change. If society doesn't value burger-flipping enough for someone to raise a family flipping burgers, when all is done, whatever games you play with the numbers, society still won't value burger-flipping enough for someone to raise a family flipping burgers.

Inflation happens. Value changes in response to any inflation. Profit is what Capitalists must seek regardless if they want to stay in business.

Inflation happens. Value changes in response to any inflation.

Prices change, value remains the same.

Price is objective, value is subjective.

Wrong.

 

[danielpalos]

The government can't force me to take labor that's more costly than value added.

You only need to try to maximize your profit regardless of costs.

If I could raise the price with no ill-effect, I would have done so already.

So how much should wages be for someone who adds $10/hour of value?

Show your calculations.

Show your calculations on how you arrived at the value they add.

Show your calculations on how you arrived at the value they add.

If you take $9 worth of materials and depreciation and turn it into a $20 product, you added
$11 in value. If it took you one hour to do it, what should your hourly wage be?

You have no control over any form of inflation.

Don't be stupid, I never claimed I did. Ever.

It also depends on the increase in productivity. You could increase the amount of product to reduce the price yet still pay labor more for that added value from productivity.

It also depends on the increase in productivity.

We're looking at productivity in this instant.

If you take $9 worth of materials and depreciation and turn it into a $20 product, you added
$11 in value. If it took you one hour to do it, what should your hourly wage be?

If your nine dollar for materials yesterday costs ten dollars today, what is the value of the material today?

 

[danielpalos]

Price inflation for a burger at a fast food place will be five percent or less.

how much is demand going to increase?

Can you at least TRY to read what I actually posted?

Higher paid labor creates more in demand and generate more in tax revenue. The less wealthy tend to spend most of their income on goods and services. If a person making seven twenty-five an hour starts making fifteen dollars an hour, doesn't that mean they can afford to buy more of your product? We could assume that could buy twice as much as before. Or, at the very least, more than they do now.

Higher paid labor creates more in demand

You're lying.

and generate more in tax revenue.

And your math sucks.

If a person making seven twenty-five an hour starts making fifteen dollars an hour, doesn't that mean they can afford to buy more of your product?

So the extra $7.75 I pay in labor per hour will be made up by an extra $7.75 per hour in
purchases of my product?

Only if the owner makes the minimum wage as well?

Gravity payments starts at thirty-five dollars an hour.

 

[danielpalos]

Pretty sure the proposal is for graduated increases over several years.
If you've other information please source it.

And why would that be, if not to mitigate the negative impact and give the market time to adjust? And that's the thing - the market will adjust. You can't just dictate the value of labor (or anything else) by passing a law. Once things settle, the relative value of low wage workers will be the same. To put it another way, when the government decrees that a $10/hr job will now pay $15/hr, all they've really said is that $15 is now worth $10. The real value of the labor in doesn't change. If society doesn't value burger-flipping enough for someone to raise a family flipping burgers, when all is done, whatever games you play with the numbers, society still won't value burger-flipping enough for someone to raise a family flipping burgers.

Inflation happens. Value changes in response to any inflation. Profit is what Capitalists must seek regardless if they want to stay in business.

Inflation happens. Value changes in response to any inflation.

Prices change, value remains the same.

Price is objective, value is subjective.

Wrong.

The value of something does not need to match the price of that same something.

 

[Wyatt earp]

So what? The minimum wage stayed at the same levels for a long time, yet the prices of burgers and everything else kept rising anyway,so you still have no point. Wholesale prices of beef and poultry actually rose after Saint Ronald of Reagan cleared the way for busloads of Mexican scabs were allowed to bust the strikes at the meatpacking plants. and wages got knocked down to shit levels. The looney lie that 'minimum wage' is why inflation is high is just stupid rubbish, not to mention a clear admission you hacks don't have a clue about labor costs as a percentage of total costs and just repeating memes fed to you by hack propagandists, same as left wing shills.

Our grocery bill went up big time after we made the decision to burn up our food supply for the gasoline additive ethanol. We did this to try and please our environmentalist friends on the left.

While ethanol is made from a variety of agricultural products, we feed our livestock these products as well. The more it costs to feed cattle, chickens, hogs, the more it costs when you slaughter them for meat products.

Really ray


Your grocery bill went up big time because of ethanol?

Just where do you get those stupid ideas?

Do you play obtuse or are an ignorant fuck?


Using food for fuel won't raise food prices???.?

 

[DrLove]

Meh - Biden's plan is a slow PHASE-IN. It would destroy nothing and cost very little. Had the minimum wage kept up with inflation, it would be $24 and hour at present. Try supporting a family as a single parent (let alone yourself) on $7.25 an hour (15 grand a year) and let us know how that goes.

 

[Wyatt earp]

If a job can't pay even $15 an hour, then it's not a real job and doesn't need doing.

Says who? If I want to take a job making less than that, why is it anyone else's business?

Winner

 

[Wyatt earp]

Meh - Biden's plan is a slow PHASE-IN. It would destroy nothing and cost very little. Had the minimum wage kept up with inflation, it would be $24 and hour at present. Try supporting a family as a single parent (let alone yourself) on $7.25 an hour (15 grand a year) and let us know how that goes.

So you want communism, after all 70% of workers make $25 or less

 

[dblack]

Meh - Biden's plan is a slow PHASE-IN. It would destroy nothing and cost very little. Had the minimum wage kept up with inflation, it would be $24 and hour at present. Try supporting a family as a single parent (let alone yourself) on $7.25 an hour (15 grand a year) and let us know how that goes.

So any job that won't "support a family" should be outlawed? Why?

 

[Canon Shooter]

Businesses fail all the time. What typical consumer will have a problem with five percent price inflation for the products they usually buy; fast food for example?

So that five dollar burger is gonna cost me $5.25?

Outrageous!

I don't think mny of these so-called 'conservatives' have ever filled out their own 1040 EZ, much less have a clue to what labor costs are in any business as a percentage of total costs. Their '$10 hamburger' days were already here when MW was $6.25 an hour a long time ago.

I know exactly what my cost is for everything with respect to my businesses. That's how I'm able to maintain them in a healthy and profitable manner.

And I haven't filled out a 1040EZ since the Reagan administration...