$15 minimum wage would destroy 1.4 Million jobs

[Dadoalex]

It has do do with your obvious math disability.

So...

Given you obvious math disability your claims are obviously well, just wrong.

A person making , say, $10/hour gets an increase over several years to $15 per hour
What do you think that person does with the extra money?
That's right, he spends it. On groceries, washing machines, cars,...
Republicans with their tax cuts make these same claims then proceed to cut taxes for the 1%.

Increased spending at the bottom increases economic activity which increases hiring and decreases unemployment.
Every tax cut since Bush in 01 has made this claim.
If returning $40 at the endo of the year is supposed to increase economic activity imagine what increasing the paycheck by 50% will do.

Your theory is so flawed. First of all increasing the wage will get employers to hire less people, invest in automation such as many fast food places have already done with more to come, and it will create a domino effect.

When the domino effect does a complete circle, everything else costs more money. The additional wage the MW worker now has won't buy them anymore than they have today. Food will go up, dining will be a little more expensive, rent will likely increase, gasoline will have to go up. Everything increases.

The only two things that is really accomplished is that government gets more money via payroll taxes, and it will cause inflation. All you have to do is look what's happening between blue and red states. You do better in life making $15.00 an hour in a red state than you do $20.00 an hour in a blue state. The costs of living are different.

And you show a complete ignorance of actual economics.

A business operates with the minimum level of staffing required to run the business.
Cutting employees cuts the business' ability to function.
Increasing pay increases the competence of employees as less competent employees are replaced by better employees interested in the better wage.
This increases the business' performance.
Increasing the wages at the lower level increases economic activity, the basis of every tax cut Republicans have ever supported.
By increasing that economic activity at the lowest level we increase hiring at that level which reduces unemployment
Which, in turn, reduces government spending
The business owner may, in the short term, experience lower profits but, over the longer term, their businesses will grow because of increased demand.

This really is just basic economics and, unlike Truman, you don't need two hands to figure it out.

 

[Toddsterpatriot]

Increase in 1996 in the middle of the 2nd greatest economic expansion in history
Increases in 2006-2009 preceded the longest economic expansion in US history.

Really, it's just math. Which, I suppose, is why you're confused. Anyone who thinks 74M is more than 83M has definite math issues.

What does 74 and 83 have to do with this? I never said anything about it. Merely pointing out that increasing wages for 3.5% of our workforce has nothing to do with the economy. You couldn't even make a case for it because there is no correlation.

It has do do with your obvious math disability.

So...

Given you obvious math disability your claims are obviously well, just wrong.

A person making , say, $10/hour gets an increase over several years to $15 per hour
What do you think that person does with the extra money?
That's right, he spends it. On groceries, washing machines, cars,...
Republicans with their tax cuts make these same claims then proceed to cut taxes for the 1%.

Increased spending at the bottom increases economic activity which increases hiring and decreases unemployment.
Every tax cut since Bush in 01 has made this claim.
If returning $40 at the endo of the year is supposed to increase economic activity imagine what increasing the paycheck by 50% will do.

A person making , say, $10/hour gets an increase over several years to $15 per hour
What do you think that person does with the extra money?

Well, if his value added is less than $15/hour, he goes on unemployment.

 

[Toddsterpatriot]

It has do do with your obvious math disability.

So...

Given you obvious math disability your claims are obviously well, just wrong.

A person making , say, $10/hour gets an increase over several years to $15 per hour
What do you think that person does with the extra money?
That's right, he spends it. On groceries, washing machines, cars,...
Republicans with their tax cuts make these same claims then proceed to cut taxes for the 1%.

Increased spending at the bottom increases economic activity which increases hiring and decreases unemployment.
Every tax cut since Bush in 01 has made this claim.
If returning $40 at the endo of the year is supposed to increase economic activity imagine what increasing the paycheck by 50% will do.

Your theory is so flawed. First of all increasing the wage will get employers to hire less people, invest in automation such as many fast food places have already done with more to come, and it will create a domino effect.

When the domino effect does a complete circle, everything else costs more money. The additional wage the MW worker now has won't buy them anymore than they have today. Food will go up, dining will be a little more expensive, rent will likely increase, gasoline will have to go up. Everything increases.

The only two things that is really accomplished is that government gets more money via payroll taxes, and it will cause inflation. All you have to do is look what's happening between blue and red states. You do better in life making $15.00 an hour in a red state than you do $20.00 an hour in a blue state. The costs of living are different.

And you show a complete ignorance of actual economics.

A business operates with the minimum level of staffing required to run the business.
Cutting employees cuts the business' ability to function.
Increasing pay increases the competence of employees as less competent employees are replaced by better employees interested in the better wage.
This increases the business' performance.
Increasing the wages at the lower level increases economic activity, the basis of every tax cut Republicans have ever supported.
By increasing that economic activity at the lowest level we increase hiring at that level which reduces unemployment
Which, in turn, reduces government spending
The business owner may, in the short term, experience lower profits but, over the longer term, their businesses will grow because of increased demand.

This really is just basic economics and, unlike Truman, you don't need two hands to figure it out.

Cutting employees cuts the business' ability to function.

So does paying them more than they produce.

The business owner may, in the short term, experience lower profits but, over the longer term, their businesses will grow because of increased demand.

I love this claim!
After you're increased employment costs by 50%, how much is demand going to increase?

 

[DudleySmith]

Welcome to 2021. Perhaps you'd like to update your information from 1976?

In the Bush economic collapse lots of jobs were lost that never came back. Those people are now working those minimum wage jobs. Whether it is paying $15 for a kid for 6 hours a week or $15 for a 40 yo woman working 40 hours.

One more thing...

Every increase in the minimum wage since 1995 has been followed by significant increases in employment, economic activity, and stock values. Your masters want the increased stock values and the extra few bucks they don't want to pay their employees.

You need to do better homework. The last several federal MW increases were in what some call the worst recession in history, although I disagree with that living through the Reagan era when you couldn't even get a McDonald's job.

History of Federal Minimum Wage Rates Under the Fair Labor Standards Act, 1938 - 2009

www.dol.gov

Increase in 1996 in the middle of the 2nd greatest economic expansion in history
Increases in 2006-2009 preceded the longest economic expansion in US history.

Really, it's just math. Which, I suppose, is why you're confused. Anyone who thinks 74M is more than 83M has definite math issues.

These people are as much into class warfare and any Red is; they can't fthom the fact that more money in workers' pockets means more spending in local businesses and less reliance on govt. relief programs. they're fine with corporate welfare and legal protections for themselves from creditors and customers, though. they're also afraid that raising minimum wage might inspire those illegal aliens the GOP loves so much to ask for another 50 cents an hour or something.

 

[danielpalos]

It has do do with your obvious math disability.

So...

Given you obvious math disability your claims are obviously well, just wrong.

A person making , say, $10/hour gets an increase over several years to $15 per hour
What do you think that person does with the extra money?
That's right, he spends it. On groceries, washing machines, cars,...
Republicans with their tax cuts make these same claims then proceed to cut taxes for the 1%.

Increased spending at the bottom increases economic activity which increases hiring and decreases unemployment.
Every tax cut since Bush in 01 has made this claim.
If returning $40 at the endo of the year is supposed to increase economic activity imagine what increasing the paycheck by 50% will do.

Right wingers prefer to ignore the multiplier effect.

 

[danielpalos]

A person making , say, $10/hour gets an increase over several years to $15 per hour
What do you think that person does with the extra money?

Well, if his value added is less than $15/hour, he goes on unemployment.

The Capitalist re-evaluates their bottom line with the higher wage and considers passing on the cost to their consumers while remaining competitive in that market.

 

[Toddsterpatriot]

A person making , say, $10/hour gets an increase over several years to $15 per hour
What do you think that person does with the extra money?

Well, if his value added is less than $15/hour, he goes on unemployment.

The Capitalist re-evaluates their bottom line with the higher wage and considers passing on the cost to their consumers while remaining competitive in that market.

Sorry, you can't remain competitive if you pay your employees more than the value they add.

 

[Brain357]

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

A federal minimum wage hike like that is stupid. Allow the states to make their own and separate decisions.

$15 in CA is a lot different than $15 in Alabama.

 

[AzogtheDefiler]

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

A federal minimum wage hike like that is stupid. Allow the states to make their own and separate decisions.

$15 in CA is a lot different than $15 in Alabama.

You're making my point! Was that your intent?

 

[Brain357]

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

A federal minimum wage hike like that is stupid. Allow the states to make their own and separate decisions.

$15 in CA is a lot different than $15 in Alabama.

You're making my point! Was that your intent?

Yes...

 

[dblack]

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?

 

[danielpalos]

A person making , say, $10/hour gets an increase over several years to $15 per hour
What do you think that person does with the extra money?

Well, if his value added is less than $15/hour, he goes on unemployment.

The Capitalist re-evaluates their bottom line with the higher wage and considers passing on the cost to their consumers while remaining competitive in that market.

Sorry, you can't remain competitive if you pay your employees more than the value they add.

Sorry, you are a price taker not a price maker when Government enacts statutory regulations.

 

[danielpalos]

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?

It could depend on whether or not you are also obtaining social services. We should not be subsidizing capitalists with cheap labor merely so they can get richer faster.

 

[Toddsterpatriot]

A person making , say, $10/hour gets an increase over several years to $15 per hour
What do you think that person does with the extra money?

Well, if his value added is less than $15/hour, he goes on unemployment.

The Capitalist re-evaluates their bottom line with the higher wage and considers passing on the cost to their consumers while remaining competitive in that market.

Sorry, you can't remain competitive if you pay your employees more than the value they add.

Sorry, you are a price taker not a price maker when Government enacts statutory regulations.

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

 

[Brain357]

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?

It could depend on whether or not you are also obtaining social services. We should not be subsidizing capitalists with cheap labor merely so they can get richer faster.

We could fix our wage issues by getting rid of all the near monopolies we have.

 

[hadit]

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

29 states already have ratified minimum wages higher than that of the federal minimum wage of $7.25 an hour. one of which is Florida who will raise their minimum wage to $15 per hour. Red State voters approved it.

So we can expect massive unemployment in Florida pretty soon then, right?

And isn't that the way it should be done, with each state and even each city being able to set their own MW wherever they want and think will benefit everyone the most?

 

[hadit]

So 1.4 million Americans "make" less than $15/hour. If these are starter jobs — then your starting wage determines your earnings for the rest of your life under the Democrats' EEO/DOE system.

You max out at $25-30/hour in the prime of your career, by by that time inflation will have reduced your real wages to no more than today's minimum wage.

Your kids will then be even poorer that you were at their age.

No, I said minimum wage which today is something like $7.70 an hour or in that area. If it goes to $15.00 an hour, it will create a domino effect and everybody regardless of what they make will demand a huge increase as well, and of course it will lead to inflation.

I worked minimum wage jobs when I was younger in the later 70's. There is no way anybody gets inflated out if they get out of that minimum wage job and advance themselves. I had to switch companies and different fields several times in my life to get ahead. That's the idea.

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.

 

[Stryder50]

A person making , say, $10/hour gets an increase over several years to $15 per hour
What do you think that person does with the extra money?

Well, if his value added is less than $15/hour, he goes on unemployment.

The Capitalist re-evaluates their bottom line with the higher wage and considers passing on the cost to their consumers while remaining competitive in that market.

Except that the consumers might decide they don't want to pay the higher price so don't buy what is being passed off onto them and then that "Capitalist" is no longer competitive in the market.

Perhaps we should 'make' CCP China institute a minimum wage of $15 USA. ;-)

 

[candycorn]

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

29 states already have ratified minimum wages higher than that of the federal minimum wage of $7.25 an hour. one of which is Florida who will raise their minimum wage to $15 per hour. Red State voters approved it.

So we can expect massive unemployment in Florida pretty soon then, right?

And isn't that the way it should be done, with each state and even each city being able to set their own MW wherever they want and think will benefit everyone the most?

I think $15 an hour is reasonable if it's done over 10 years or so.

 

[hadit]

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

29 states already have ratified minimum wages higher than that of the federal minimum wage of $7.25 an hour. one of which is Florida who will raise their minimum wage to $15 per hour. Red State voters approved it.

So we can expect massive unemployment in Florida pretty soon then, right?

And isn't that the way it should be done, with each state and even each city being able to set their own MW wherever they want and think will benefit everyone the most?

I think $15 an hour is reasonable if it's done over 10 years or so.

And that's been my point all along. The absolute minimum floor MW should be low enough that it doesn't destroy the economy or the job market, and the ones on it are only teenagers trying to get job experience, older people starting over for whatever reason, older people wanting something to do in retirement, or those who are willing to do something to generate a little income for a while. If you live in NYC, your MW should be substantially higher than the national average while if you live in libfart MO it should be substantially lower. The federal MW should be at the bottom basement level while states and cities can set their own higher if they want to.

Why should workers in NYC see their MW held down by libfart, and should workers in libfart lose jobs because they have to be paid high wages due to NYC?