$15 minimum wage would destroy 1.4 Million jobs

[Toddsterpatriot]

to the extent of its purchasing power and enforcement, the federal minimum wage rate reduces incidences and extents of poverty in our nation.

To the extent that it reduces employment and raises prices, the federal minimum wage rate increases incidences and extents of poverty in our nation.

Only if you appeal to ignorance of economics and the multiplier effect. Higher paid labor simply creates more in demand and generates more in tax revenue.

Liar.

 

[Toddsterpatriot]

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 are a 2 dimensional thinker

You're giving him WAY too much credit.

 

[Toddsterpatriot]

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,

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

 

[Toddsterpatriot]

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,

since higher paid labor craetes more in demand

The higher prices and lower employment already erased the higher demand you claim.

 

[Toddsterpatriot]

That is why the minimum wage should have been keeping up with productivity;

Unskilled workers, like you, didn't become more productive.
That's why they and you were still making the minimum wage.

 

[Canon Shooter]

50 grand in today's america doesn't even sniff middle class anywhere. Wages are woefully behind the cost of living increases. The gap continues to grow no end in sight.

In Ohio you can do okay at 50K a year. You won't have the nicest house or have the fanciest car, but you can live comfortably.

One person can live comfortably just about anywhere on $50K a year...

 

[Blues Man]

50 grand in today's america doesn't even sniff middle class anywhere. Wages are woefully behind the cost of living increases. The gap continues to grow no end in sight.

In Ohio you can do okay at 50K a year. You won't have the nicest house or have the fanciest car, but you can live comfortably.

One person can live comfortably just about anywhere on $50K a year...

A couple can live quite well on 60K a year if they don't have a mortgage and a ton of debt.

 

[hadit]

When someone who is doing a 7.25 an hour job and that person artificially get a raise to 15 an hour his skills haven't improved so in reality there is no better employee to take his job because all entry level people will have their pay artificially raised for no reason.

And you don't know shit about running a business.

You can't run with the bare minimum because you have to cover sick time, vacation time etc and ideally you don't want to incur overtimes costs when you do that so a business actually runs with a small surplus of labor.

and saying that a guy who does nothing but push a broom has to be paid 15 an hour is not going to result in more broom pushing jobs it fact just the opposite will be true.

That is a disingenuous argument and always has been. What do you when the price of materials rise that you use for input to your business?

When the costs of supplies goes up you raise prices.

When the cost of labor goes up you raise prices.

you have to to maintain a profitable business.

Raising a broom pushers salary from 7.25 to 15 an hour doesn't make his skills worth more and will not result in more broom pushers.

So what; value and price (cost) are two different things. Did your supplies gain more value from the increased price?

It doesn't matter if the value of supplies goes up all that matters is the price I have to pay for them and how much I have to add into the cost of my finished product.

Price went up for labor. Just apply that same concept.

Government artificially and arbitrarily setting prices does not acknowledge market forces and causes more problems than it resolves.

Only if you engage in special pleading. Inflation can be just as arbitrary. And, Government control of the economy is what achieved full employment during WWII not the private sector.

And again you try to pretend that a war time economy is the same as a peacetime economy. You didn't go to find out what Lincoln did to the Constitution during the Civil War, did you?

 

[Flash]

Expect China Joe to destroy a lot of jobs.

But his Chinese buddies will do well.

 

[hadit]

When someone who is doing a 7.25 an hour job and that person artificially get a raise to 15 an hour his skills haven't improved so in reality there is no better employee to take his job because all entry level people will have their pay artificially raised for no reason.

And you don't know shit about running a business.

You can't run with the bare minimum because you have to cover sick time, vacation time etc and ideally you don't want to incur overtimes costs when you do that so a business actually runs with a small surplus of labor.

and saying that a guy who does nothing but push a broom has to be paid 15 an hour is not going to result in more broom pushing jobs it fact just the opposite will be true.

That is a disingenuous argument and always has been. What do you when the price of materials rise that you use for input to your business?

When the costs of supplies goes up you raise prices.

When the cost of labor goes up you raise prices.

you have to to maintain a profitable business.

Raising a broom pushers salary from 7.25 to 15 an hour doesn't make his skills worth more and will not result in more broom pushers.

So what; value and price (cost) are two different things. Did your supplies gain more value from the increased price?

It doesn't matter if the value of supplies goes up all that matters is the price I have to pay for them and how much I have to add into the cost of my finished product.

Price went up for labor. Just apply that same concept.

Government artificially and arbitrarily setting prices does not acknowledge market forces and causes more problems than it resolves.

Only if you engage in special pleading. Inflation can be just as arbitrary. And, Government control of the economy is what achieved full employment during WWII not the private sector.

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

Steps to full employment and a super duper economy -

1. Destroy the rest of the world's manufacturing capabilities while emerging unscathed yourself.
2. Become the only major manufacturer on the planet.

 

[Blues Man]

When someone who is doing a 7.25 an hour job and that person artificially get a raise to 15 an hour his skills haven't improved so in reality there is no better employee to take his job because all entry level people will have their pay artificially raised for no reason.

And you don't know shit about running a business.

You can't run with the bare minimum because you have to cover sick time, vacation time etc and ideally you don't want to incur overtimes costs when you do that so a business actually runs with a small surplus of labor.

and saying that a guy who does nothing but push a broom has to be paid 15 an hour is not going to result in more broom pushing jobs it fact just the opposite will be true.

That is a disingenuous argument and always has been. What do you when the price of materials rise that you use for input to your business?

When the costs of supplies goes up you raise prices.

When the cost of labor goes up you raise prices.

you have to to maintain a profitable business.

Raising a broom pushers salary from 7.25 to 15 an hour doesn't make his skills worth more and will not result in more broom pushers.

So what; value and price (cost) are two different things. Did your supplies gain more value from the increased price?

It doesn't matter if the value of supplies goes up all that matters is the price I have to pay for them and how much I have to add into the cost of my finished product.

Price went up for labor. Just apply that same concept.

Government artificially and arbitrarily setting prices does not acknowledge market forces and causes more problems than it resolves.

Only if you engage in special pleading. Inflation can be just as arbitrary. And, Government control of the economy is what achieved full employment during WWII not the private sector.

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

Steps to full employment and a super duper economy -

1. Destroy the rest of the world's manufacturing capabilities while emerging unscathed yourself.
2. Become the only major manufacturer on the planet.

And make sure it stays that way forever

 

[jbander]

And this is according to the Far Left CBO.

Undoubtably it would be a lot more.

Any poor person who needs to work deserves this shit sandwich they are being served- if they actually voted for the Dems.

Raising minimum wage to $15 would cost 1.4 million jobs, CBO says

Raising the federal minimum wage to $15 an hour would cost 1.4 million jobs over the next four years, according to the Congressional Budget Office.

www.cnbc.com

Love you hate Nazis , your source a corporate media source that exist for corporate America and no one else. Can easily be paid for with taking away one or two of the corporate tax dodges that allow the biggest most profitable American raper corporations to pay no taxes, that's just one or two of the hundreds of free ride gifts for the wealthy.. Or just not have to pay for the giveaway to the wealthy tax cuts That raised the debt 7 trillion dollars in four years. You hate Nazi's are a joke. Your hate Nazi Thread gave you all the Negatives but left out a list of positives. Everything from increase in taxes from it , to increase in demand to taking a million off of Welfare and Food stamps. There has never been a time in history were more people pick their trained seal options that are against there best interest.

 

[Canon Shooter]

50 grand in today's america doesn't even sniff middle class anywhere. Wages are woefully behind the cost of living increases. The gap continues to grow no end in sight.

In Ohio you can do okay at 50K a year. You won't have the nicest house or have the fanciest car, but you can live comfortably.

One person can live comfortably just about anywhere on $50K a year...

A couple can live quite well on 60K a year if they don't have a mortgage and a ton of debt.

Debt (credit cards, car loans, etc) is what's killing people, not mortgages.

I bought a house in San Diego in 1999. The mortgage, $199K, was paid off in 2015 (that house is now worth more than $600K; I should've kept it!).

I have a debit card and one personal credit card with a $35K limit, but I do my damndest to never carry a balance. I haven't had a car payment since the Clinton administration. I've got a 2014 Benz that I paid cash for three years ago, a Jeep and three Harleys. All were cash or cash/trade deals. When you consider how quickly a new car depreciates, it doesn't make any sense to make five years worth of payments.

When I got out of debt it was the greatest feeling in the world. People need to understand that working a minimum wage job will never get them to that point, and getting to that point should be the goal...

 

[Toddsterpatriot]

Can easily be paid for with taking away one or two of the corporate tax dodges that allow the biggest most profitable American raper corporations to pay no taxes,

Sounds awful!!!!

Can you post a list of these immoral tax dodges?

 

[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.

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

They could be going to school or learning new skills.

 

[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?

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?

Working the machine is what promotes higher productivity. CEOs don't work any harder.

 

[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%).

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

So stop whining about it

Not the point; the people who do work at those firms haven't seen similar gains to their income or stock options.

 

[danielpalos]

to the extent of its purchasing power and enforcement, the federal minimum wage rate reduces incidences and extents of poverty in our nation.

To the extent that it reduces employment and raises prices, the federal minimum wage rate increases incidences and extents of poverty in our nation.

Only if you appeal to ignorance of economics and the multiplier effect. Higher paid labor simply creates more in demand and generates more in tax revenue.

Liar.

Typical right winger typing on the Internet. You need a valid argument for rebuttal.

 

[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?

Working the machine is what promotes higher productivity. CEOs don't work any harder.

no it's the machine itself.

One guy can monitor 3 or 4 machines because it's the machines that do all the work.

And once again what a CEO gets paid is completely irrelevant and has no impact on what people get paid.

 

[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

Not the point; the people who do work at those firms haven't seen similar gains to their income or stock options.

how do you know they even own stock in the company they work for?>