Minimum wage rates.

How does anyone not understand that when you tax rich people more then they have less money to invest?
In your eulogy of capitalism, you forgot to write about the competition in which only the smartest and most energetic win.
 
In your eulogy of capitalism, you forgot to write about the competition in which only the smartest and most energetic win.

I'm not seeing the problem with the smartest and most energetic people winning. In this country, I don't believe you have to be the smartest or most energetic to be successful, it depends on what success means to you.
 
All right, now you talking about definition of "is"... Ask Clintons about sассess

I believe you dodged the issue. What's your problem with the smartest and most energetic people winning? Or do you have an issue with competition? Your post #61 suggests that you do.
 
Task0778, The wage rates of the poorest national economies have the least purchasing powers. Automation is not justified when human labor is available, can accomplish the tasks just as well, and at costs not exceeding automation’s costs. Unsurprisingly, the poorest nations are the slowest to adopt advances in automation. arguing against higher wages because they encourage automation, is to argue in favor of poverty.

The Congressional Budget Office's (CBO's) minimum wage rate reports are not negative assessments of the proposed rate increases. The reports' unexpectedly extremely small total increased incomes projections attributed to lower income families disregard projected shifts of public supported to individually earned incomes. The net projected differences are small but their economic and social benefits are substantial.
The minimum wage rate more or less directly affects purchasing powers of employed and unemployed workers and the dependents of those workers earning rates within the lower bracket of wage rates.
Minimum wage rate's effects upon Social Security retirees' purchasing powers are affected by the minimum rates affects upon beneficiaries' entire histories of wage earnings. More than a decade must transpire before the effects of an enacted rate increase can be fully perceived within retirees' benefits.

To the extent of its purchasing power and enforcement within labor markets, minimum wage rate reduces poverty among wage earners and their dependents. CBO's reports do not state otherwise.
Respectfully, Supposn

Respectfully, you're forgetting a person's wage is only one PART of the cost of employment, ie, the employer ALSO has to pay for that employee's benefits along with payroll taxes. Not to mention the costs associated with hiring in general; maintaining accessible accommodations, equipment, office space, training, etc, and assuming the risk of litigation if any of the prior pieces are in any way inadequate. As labor costs continue to raise disproportionate to the value of the actual job, automation is in fact becoming more and more justified.
 
Respectfully, ... As labor costs continue to raise disproportionate to the value of the actual job, automation is in fact becoming more and more justified.
Dirk the Daring, employers are motivated to hire or retain employees in anticipation of consequential benefit to themselves or their enterprises.
Employers are motivated to hire or retain employees if they perceive some certain or likely risk of detrimental consequences if do otherwise. Employers do NOT knowingly pay unjustifiable pay rates; if a worker was hired and/or is retained, the job and the worker's pay rate was justified.

Automation enables reduction of costs and/or improved quality of products. Slower adoption of automation is characteristic of the poorest national economies. Minimum wage rate of greater purchasing power promotes automation and has always been to our nation's aggregate net benefit.
Respectfully, Supposn
 
I'm not paying an employee for an hour of his life. I'm paying an employee for what he can accomplish in an hour of his life.

On October 1, 2024, my company will no longer have a custodial department. That's the date when I would have to start paying them $13 an hour. Sorry, but that's simply too much to pay someone to sweep the floor, clean the restrooms, etc, considering it will be far less expensive for me to contract that out to a third party cleaning company. This is an example of how a rise in the minimum wage will cost jobs.

Could I keep them and pay them more? Sure I could. But I would also have to raise my fees and prices in order to absorb the increase, and that will cost me customers. From a business perspective, customers are far more important than a custodial department...
If you ask an employed person, "Who pays your wage", 99.9% of them will say, "My boss". But 0.1% and the self employed will say, "The customer".

And as the cost of employment increases and the need to retain customers to pay the wages, more robots are employed, service quality drops, and more cheaper junk from China is shipped in.

And the answer from the left is........minimum wage needs to go up.
 
... And as the cost of employment increases and the need to retain customers to pay the wages, more robots are employed, service quality drops, and more cheaper junk from China is shipped in.
And the answer from the left is........minimum wage needs to go up.
Captain Caveman, regarding "robots": Automation enables reduction of costs and/or improved quality of products. Slower adoption of automation is characteristic of the poorest national economies. Minimum wage rate of greater purchasing power promotes automation and has always been to our nation's aggregate net benefit.

Regarding "cheaper junk from China, I'm a proponent for the unilateral international trade policy described within Wikipedia's Import Certificates article. Refer to: Import certificates - Wikipedia .

Yes, I'm among the proponents for the federal minimum wage rate to be annually increased gradually in a uniform manner until it achieves a value no less than 125% of its February-1968 purchasing power. Thereafter it should be monitored and annually automatically (if required), adjusted to retain no less than that level of purchasing power.
Respectfully, Supposn
 
>The Clintons made a lot of money by selling access.
>What does that have to do with capitalism?

I repeat, everything.
As good old Friedrich Engels said: "The bourgeoisie turns everything into a commodity" (see fragments to the work “History of Ireland").
For example:

yPDXpd63YJU.jpg
 
>The Clintons made a lot of money by selling access.
>What does that have to do with capitalism?

I repeat, everything.
As good old Friedrich Engels said: "The bourgeoisie turns everything into a commodity" (see fragments to the work “History of Ireland").
For example:

yPDXpd63YJU.jpg

I repeat, everything.

Yeah, I saw your joke the first time you posted it.
 
Minimum wage rates:
Minimum wage rates do not "regulate" prices of labor:
There are many factors affecting prices of products, but they do not "regulate" the market prices of those goods and services.
Realestate and school taxes do not "regulate" the prices of houses, and weather does not regulate the prices of agricultural products. Legally enforced minimum wage rates do not "regulate" labor markets' prices.
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The federal minimum wage rate's A MINIMUM, but it's not THE MINIMUM wage rate for our entire nation.
Federal law reduces the extent that a lower wage rate state is able to undermine the wage rates of other USA states. Until the federal law's repealed or the U.S. Supreme Court overturns their prior courts' decisions, the federal minimum wage rate remains to be the federal law.
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I'm among the proponents for the federal minimum wage rate to be annually increased gradually in a uniform manner until it achieves a value no less than 125% of its February-1968 purchasing power. Thereafter it should be monitored and automatically be annually, (if required) adjusted to retain no less than that level of purchasing power. Respectfully, Supposn

A superior minimum wage rate bill:
Congressional bills would better serve our nation if their terms were expressed as variable values rather than as fixed numbers of dollars.

Regardless of anticipated Senate behavior, Democratic House members better serve their nation and party when striving to pass a superior minimum wage rate bill. The U.S. Congressional House bills were good, but they could have been better. Respectfully, Supposn
 

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