$15 minimum wage would destroy 1.4 Million jobs

[Blues Man]

Tell me at what price point will my customers buy less than they do now?

At what point will they stop buying my product?

Since everyone who is already making close to 15 an hour now will see their purchasing power drop it is inevitable that I will lose business

Another disingenuous argument? All of your competition (unless they are better managed) are in the same boat as you.

How many more hamburgers can minimum wage labor afford at their new minimum wage versus the previous minimum wage?

Exactly so my competition will also see a reduction in their business.

Which is why the CBO estimates that a 15 an hour minimum wage will cost 1.4 million jobs.

Higher paid labor creates more in demand and generates more in tax revenue. The multiplier will eventually create more job opportunities for the unemployed.

Real earnings for workers while they remained employed would increase by $64 billion,

Real earnings for workers while they were jobless would decrease by $20 billion,

There is no multiplier when 1.4 million jobs are lost and the purchasing power of most people is decreased.

Why should anyone take right wingers seriously about economics?

Real earnings for workers while they remained employed would increase by $64 billion,

The problem is 1.4 million of then won't remain employed.

 

[danielpalos]

Total real family income would decrease by $9 billion...moron.

That may happen but only in the short term since higher paid labor craetes more in demand generates more in tax revenue in every long run equilibrium.

Real earnings for workers while they remained employed would increase by $64 billion,

 

[Blues Man]

I have no expectations for any one I will pay 7.25 an hour for. And no pay is not always linked to productivity. Do you think if MW is changed to 15 an hour that productivity will go up?

Yes, I do. Someone more motivated may apply for that position versus someone who may feel they are a wage-slave for Capitalist due to unequal protection of the law for unemployment compensation in our at-will employment States.

The more motivated people already have jobs that pay more than minimum wage.

MW is for unskilled, people who can't get a better paying job.

Untrue under Capitalism where greed is good. A higher minimum wage could make it more worthwhile for labor with more talent to understand the economic benefit.

It won't because the people with the talent are already making more than minimum wage.

All that will happen is a business will pay twice as much for the same unskilled labor

 

[danielpalos]

And you can't figure out why?

Technology improved by leaps and bounds in that time frame.

We replaced highly skilled labor with automated processes that a low skilled worker can oversee.

That is why the minimum wage should have been keeping up with productivity; for comparison and contrast, CEOs don't produce any more than they did before.

 

[danielpalos]

Most people do not work for companies with high paid CEOs so it really doesn''t matter what they get paid.

What Jeff Bezos makes has never had any effect on my income

Not true at all. Gravity Payments' CEO proved the concept and the starting wage there is around thirty-five dollars an hour.

 

[Blues Man]

And you can't figure out why?

Technology improved by leaps and bounds in that time frame.

We replaced highly skilled labor with automated processes that a low skilled worker can oversee.

That is why the minimum wage should have been keeping up with productivity; for comparison and contrast, CEOs don't produce any more than they did before.

Wage is based on skill.

When a machine is responsible for the increase in productivity the gut who does nothing but turn the machine on and off isn't responsible for the increase in production the people who built the machine and wrote the computer code are and they get paid more.

 

[danielpalos]

We really don't have poor people.

Poor people don't have cell phones and aren't 100 lbs overweight.

And like I said most people don't work for companies with high paid CEOs so what Jeff Bezos or Elon Musk get paid has absolutely no effect on the incomes of the vast majority of people.

Why do we have a war on poverty and why do right wingers complain about taxes for social services? You aren't poor and can afford it in modern times.

 

[Blues Man]

Most people do not work for companies with high paid CEOs so it really doesn''t matter what they get paid.

What Jeff Bezos makes has never had any effect on my income

Not true at all. Gravity Payments' CEO proved the concept and the starting wage there is around thirty-five dollars an hour.

And how did that affect your income?

Oh yeah it didn't.

 

[danielpalos]

Yeah we should start another world war to get that full employment again. Funny how you don't seem to know what happened when the war ended and the job losses that went along with it

Right wingers are even more clueless regarding tax cut economics and your alleged wars on crime, drugs, and terror, which only increase the Cost of "Big Government nanny-Statism" while not even trying to achieve full employment.

Their not my wars on drugs or crimes.

I have been for legalizing all drugs for decades.

Your problem is you think everyone who disagrees with you is "right wing". You are a 2 dimensional thinker

You tend to have mostly right wing propaganda and rhetoric and it why I consider you more right wing.

 

[Blues Man]

We really don't have poor people.

Poor people don't have cell phones and aren't 100 lbs overweight.

And like I said most people don't work for companies with high paid CEOs so what Jeff Bezos or Elon Musk get paid has absolutely no effect on the incomes of the vast majority of people.

Why do we have a war on poverty and why do right wingers complain about taxes for social services? You aren't poor and can afford it in modern times.

I'm not a right winger and do not speak for anyone but myself.

Your problem is you think everyone who disagrees with you is a right winger. You're both myopic and a 2 dimensional thinker

 

[danielpalos]

When that forced arbitrary higher wage results in 1.4 million people losing their jobs they won't be paying taxes at all

You keep missing the point, the millions who keep their jobs and get paid more will be creating more in demand and generating more in tax revenue.

Real earnings for workers while they remained employed would increase by $64 billion,

 

[Blues Man]

Yeah we should start another world war to get that full employment again. Funny how you don't seem to know what happened when the war ended and the job losses that went along with it

Right wingers are even more clueless regarding tax cut economics and your alleged wars on crime, drugs, and terror, which only increase the Cost of "Big Government nanny-Statism" while not even trying to achieve full employment.

Their not my wars on drugs or crimes.

I have been for legalizing all drugs for decades.

Your problem is you think everyone who disagrees with you is "right wing". You are a 2 dimensional thinker

You tend to have mostly right wing propaganda and rhetoric and it why I consider you more right wing.

No I don't. You just think I do because you have to pigeonhole everything into just 2 boxes

 

[danielpalos]

It won't because the people with the talent are already making more than minimum wage.

All that will happen is a business will pay twice as much for the same unskilled labor

Now You are being overly two dimensional. A lower minimum wage may simply not be cost effective for some to bother working.

 

[Blues Man]

When that forced arbitrary higher wage results in 1.4 million people losing their jobs they won't be paying taxes at all

You keep missing the point, the millions who keep their jobs and get paid more will be creating more in demand and generating more in tax revenue.

Real earnings for workers while they remained employed would increase by $64 billion,

Not everyone is going to get paid more. The people already making 15 an hour will not get paid more.

And 1.4 million people making 7.25 an hour now won't be making anything

 

[danielpalos]

Wage is based on skill.

When a machine is responsible for the increase in productivity the gut who does nothing but turn the machine on and off isn't responsible for the increase in production the people who built the machine and wrote the computer code are and they get paid more.

Not true for CEO's. Why should it be true for more productive labor?

 

[Blues Man]

It won't because the people with the talent are already making more than minimum wage.

All that will happen is a business will pay twice as much for the same unskilled labor

Now You are being overly two dimensional. A lower minimum wage may simply not be cost effective for some to bother working.

People who can't be bothered to work are not the type of people that have job skills

 

[danielpalos]

Most people do not work for companies with high paid CEOs so it really doesn''t matter what they get paid.

What Jeff Bezos makes has never had any effect on my income

Not true at all. Gravity Payments' CEO proved the concept and the starting wage there is around thirty-five dollars an hour.

And how did that affect your income?

Oh yeah it didn't.

I don't work at any of these firms:

From 1978 to 2018, CEO compensation grew by 1,007.5% (940.3% under the options-realized measure), far outstripping S&P stock market growth (706.7%) and the wage growth of very high earners (339.2%).

 

[Blues Man]

Wage is based on skill.

When a machine is responsible for the increase in productivity the gut who does nothing but turn the machine on and off isn't responsible for the increase in production the people who built the machine and wrote the computer code are and they get paid more.

Not true for CEO's. Why should it be true for more productive labor?

I already told you the labor isn't more productive it is actually less productive because the technology is responsible for the increase in production not the guy who turns on the machine. The people who actually make the machines , program them and keep them running are the ones getting the better pay.

And like I said what a CEO makes has no impact on what you make. Do you actually think if the government forced all CEOs to take a pay cut that your pay would increase?

 

[Blues Man]

Most people do not work for companies with high paid CEOs so it really doesn''t matter what they get paid.

What Jeff Bezos makes has never had any effect on my income

Not true at all. Gravity Payments' CEO proved the concept and the starting wage there is around thirty-five dollars an hour.

And how did that affect your income?

Oh yeah it didn't.

I don't work at any of these firms:

From 1978 to 2018, CEO compensation grew by 1,007.5% (940.3% under the options-realized measure), far outstripping S&P stock market growth (706.7%) and the wage growth of very high earners (339.2%).

And most people don't work for giant corporations with high paid CEOs.

So stop whining about it

 

[Toddsterpatriot]

You really need a link to see that wages are rising at a pittance? Take off the red white and blue blinders and see the real america.

Right wingers prefer to "hate on the Poor".

From 1978 to 2018, CEO compensation grew by 1,007.5% (940.3% under the options-realized measure), far outstripping S&P stock market growth (706.7%) and the wage growth of very high earners (339.2%). In contrast, wages for the typical worker grew by just 11.9%.

CEO compensation has grown 940% since 1978: Typical worker compensation has risen only 12% during that time

The latest report in EPI’s annual series analyzing current and long-term trends in CEO compensation.

www.epi.org

From 1978 to 2018, CEO compensation grew by 1,007.5% (940.3% under the options-realized measure),

Bullshit.