Obama gets 3 Pinocchios because minimum wage would strengthen middle class?

[healthmyths]

Obama said:
“So far this year, Republicans in Congress have blocked every serious idea to strengthen the middle class.”
Obama specifically mentioned “lifting the minimum wage, fair pay, student loan reform.”
Obama?s claim that the GOP has ?blocked every serious idea? - The Washington Post

So by blocking a minimum wage that would at MOST raise these people's wages:
According to: http://www.bls.gov/cps/minwage2013.pdf :
1) 797,000 people (25.7%) between 16 to 19 years old work at minimum wage of the total of
2) 3.3 million people that work at minimum wage or 1.1% of Americans

How many households are in the middle class:
Depending on the class model used, the middle class constitutes anywhere from 25% to 66% of households.
In terms of personal income distribution in 2005, that would mean gross annual personal incomes from about $32,500 to $60,000.
American middle class - Wikipedia, the free encyclopedia

So Obama!!!
How can the Middle Class be helped by raising the minimum wage when less then 3.3 million people ALL categorized as basically
living at poverty level or "LOWER" class ???

 

[jon_berzerk]

Obama said:
“So far this year, Republicans in Congress have blocked every serious idea to strengthen the middle class.”
Obama specifically mentioned “lifting the minimum wage, fair pay, student loan reform.”
Obama?s claim that the GOP has ?blocked every serious idea? - The Washington Post

So by blocking a minimum wage that would at MOST raise these people's wages:
According to: http://www.bls.gov/cps/minwage2013.pdf :
1) 797,000 people (25.7%) between 16 to 19 years old work at minimum wage of the total of
2) 3.3 million people that work at minimum wage or 1.1% of Americans

How many households are in the middle class:
Depending on the class model used, the middle class constitutes anywhere from 25% to 66% of households.
In terms of personal income distribution in 2005, that would mean gross annual personal incomes from about $32,500 to $60,000.
American middle class - Wikipedia, the free encyclopedia

So Obama!!!
How can the Middle Class be helped by raising the minimum wage when less then 3.3 million people ALL categorized as basically
living at poverty level or "LOWER" class ???

i suppose it would

because the minimum wage will remain the minimum

all other things will adjust accordingly

will they be better off

not really everyone just moves along a scale

some may actually do worse

 

[onecut39]

Obama said:
“So far this year, Republicans in Congress have blocked every serious idea to strengthen the middle class.”
Obama specifically mentioned “lifting the minimum wage, fair pay, student loan reform.”
Obama?s claim that the GOP has ?blocked every serious idea? - The Washington Post

So by blocking a minimum wage that would at MOST raise these people's wages:
According to: http://www.bls.gov/cps/minwage2013.pdf :
1) 797,000 people (25.7%) between 16 to 19 years old work at minimum wage of the total of
2) 3.3 million people that work at minimum wage or 1.1% of Americans

How many households are in the middle class:
Depending on the class model used, the middle class constitutes anywhere from 25% to 66% of households.
In terms of personal income distribution in 2005, that would mean gross annual personal incomes from about $32,500 to $60,000.
American middle class - Wikipedia, the free encyclopedia

So Obama!!!
How can the Middle Class be helped by raising the minimum wage when less then 3.3 million people ALL categorized as basically
living at poverty level or "LOWER" class ???

i suppose it would

because the minimum wage will remain the minimum

all other things will adjust accordingly

will they be better off

not really everyone just moves along a scale

some may actually do worse

ROFLMAO!

Don't read much history do you?

Flunk economics 101?

 

[healthmyths]

Obama said:
“So far this year, Republicans in Congress have blocked every serious idea to strengthen the middle class.”
Obama specifically mentioned “lifting the minimum wage, fair pay, student loan reform.”
Obama?s claim that the GOP has ?blocked every serious idea? - The Washington Post

So by blocking a minimum wage that would at MOST raise these people's wages:
According to: http://www.bls.gov/cps/minwage2013.pdf :
1) 797,000 people (25.7%) between 16 to 19 years old work at minimum wage of the total of
2) 3.3 million people that work at minimum wage or 1.1% of Americans

How many households are in the middle class:
Depending on the class model used, the middle class constitutes anywhere from 25% to 66% of households.
In terms of personal income distribution in 2005, that would mean gross annual personal incomes from about $32,500 to $60,000.
American middle class - Wikipedia, the free encyclopedia

So Obama!!!
How can the Middle Class be helped by raising the minimum wage when less then 3.3 million people ALL categorized as basically
living at poverty level or "LOWER" class ???

i suppose it would

because the minimum wage will remain the minimum

all other things will adjust accordingly

will they be better off

not really everyone just moves along a scale

some may actually do worse

You said "minimum remain minimum" meaning if raised to $10.80( not $10.10 because employers match SS/Medicare) the remaining 76 million that
earn more then minimum NOW will have their hourly wage increased?
So let's assume

In 1980, 15 percent of hourly workers earned the minimum wage.
Today that share is down to only 4.7 percent.
Almost Everything You Have Been Told About The Minimum Wage Is False - Forbes

Per the below the average hourly worker's wage above minimum is $14.77 per hour.
http://www.peri.umass.edu/fileadmin/pdf/published_study/PERI_WorkPay.pdf

So two events that you seem ok with can occur either both or one in either case..
A) Since 25% of the 3.3 million are between ages 16 and 19 raising minimum wage by 30% means it is cheaper to hire robots and or convert to self service.
Thus most food service employers will look at ways to reduce this 30% increase either by raising their prices or letting people go i.e. the 16 to 19s!
B) The other event is the non-minimum worker will want pay increases.. And if just 10% of the 75 million hourly workers i.e. 7.5 million want their
current $14.77 /hour rate raised to $21.00 (equal 48% increase from 7.25 to 10.80) this would mean businesses have to pay out annually:
7.5 million x $7.00(difference between $21 from $14) x 40 x 52 equal to cost to businesses from RAISING wages on non-minimum wage earners)=$110.5 billion
That $110 billion from raising 10% of the above minimum average wage earner's due to raising minimum wage on 3.3 million 25% age 16 to 19!

Are you ready to see your food/etc. costs rise ???

 

[tinydancer]

Obama said:
“So far this year, Republicans in Congress have blocked every serious idea to strengthen the middle class.”
Obama specifically mentioned “lifting the minimum wage, fair pay, student loan reform.”
Obama?s claim that the GOP has ?blocked every serious idea? - The Washington Post

So by blocking a minimum wage that would at MOST raise these people's wages:
According to: http://www.bls.gov/cps/minwage2013.pdf :
1) 797,000 people (25.7%) between 16 to 19 years old work at minimum wage of the total of
2) 3.3 million people that work at minimum wage or 1.1% of Americans

How many households are in the middle class:
Depending on the class model used, the middle class constitutes anywhere from 25% to 66% of households.
In terms of personal income distribution in 2005, that would mean gross annual personal incomes from about $32,500 to $60,000.
American middle class - Wikipedia, the free encyclopedia

So Obama!!!
How can the Middle Class be helped by raising the minimum wage when less then 3.3 million people ALL categorized as basically
living at poverty level or "LOWER" class ???

i suppose it would

because the minimum wage will remain the minimum

all other things will adjust accordingly

will they be better off

not really everyone just moves along a scale

some may actually do worse

ROFLMAO!

Don't read much history do you?

Flunk economics 101?

Explain why you are ridiculing that post.

 

[Nutz]

Middle Class isn't created, it is earned...otherwise no middle class can exist, only socialism.

 

[healthmyths]

Can anyone explain how Obama thinks raising the minimum wage "helps the middle class"???
“So far this year, Republicans in Congress have blocked every serious idea to strengthen the middle class.”
Obama specifically mentioned “lifting the minimum wage, fair pay, student loan reform.”
Please I'm waiting to see how raising minimum wages on 3.3 million of the minimum hourly wage earners will "help the middle class"???

 

[healthmyths]

OR does Obama know how many people earn the minimum wage AND how many are between 16 and 19 years old that will probably be let go as their entry level low skilled jobs will be eliminated. Remember how fascinated he was to learn bank tellers' jobs are being eliminated by ATMs?

 

[francoHFW]

Reaganist tax rates and policy have been wrecking the nonrich for over 30 years- see sig. We need DEMAND for product that a living wage and resultant wage rises across the board would produce....would also reduce welfare and food stamp payments to poor workers...DUH.

 

[BobPlumb]

Soon the name for the awards for not telling the truth is going to be changed from Pinocchios to Obamas!

 

[konradv]

Can anyone explain how Obama thinks raising the minimum wage "helps the middle class"???

Second jobs. The MC has gotten so hosed compared to the 1% over the last 40 years that many need those jobs to make ends meet.

 

[jon_berzerk]

Obama said:
“So far this year, Republicans in Congress have blocked every serious idea to strengthen the middle class.”
Obama specifically mentioned “lifting the minimum wage, fair pay, student loan reform.”
Obama?s claim that the GOP has ?blocked every serious idea? - The Washington Post

So by blocking a minimum wage that would at MOST raise these people's wages:
According to: http://www.bls.gov/cps/minwage2013.pdf :
1) 797,000 people (25.7%) between 16 to 19 years old work at minimum wage of the total of
2) 3.3 million people that work at minimum wage or 1.1% of Americans

How many households are in the middle class:
Depending on the class model used, the middle class constitutes anywhere from 25% to 66% of households.
In terms of personal income distribution in 2005, that would mean gross annual personal incomes from about $32,500 to $60,000.
American middle class - Wikipedia, the free encyclopedia

So Obama!!!
How can the Middle Class be helped by raising the minimum wage when less then 3.3 million people ALL categorized as basically
living at poverty level or "LOWER" class ???

i suppose it would

because the minimum wage will remain the minimum

all other things will adjust accordingly

will they be better off

not really everyone just moves along a scale

some may actually do worse

You said "minimum remain minimum" meaning if raised to $10.80( not $10.10 because employers match SS/Medicare) the remaining 76 million that
earn more then minimum NOW will have their hourly wage increased?
So let's assume

In 1980, 15 percent of hourly workers earned the minimum wage.
Today that share is down to only 4.7 percent.
Almost Everything You Have Been Told About The Minimum Wage Is False - Forbes

Per the below the average hourly worker's wage above minimum is $14.77 per hour.
http://www.peri.umass.edu/fileadmin/pdf/published_study/PERI_WorkPay.pdf

So two events that you seem ok with can occur either both or one in either case..
A) Since 25% of the 3.3 million are between ages 16 and 19 raising minimum wage by 30% means it is cheaper to hire robots and or convert to self service.
Thus most food service employers will look at ways to reduce this 30% increase either by raising their prices or letting people go i.e. the 16 to 19s!
B) The other event is the non-minimum worker will want pay increases.. And if just 10% of the 75 million hourly workers i.e. 7.5 million want their
current $14.77 /hour rate raised to $21.00 (equal 48% increase from 7.25 to 10.80) this would mean businesses have to pay out annually:
7.5 million x $7.00(difference between $21 from $14) x 40 x 52 equal to cost to businesses from RAISING wages on non-minimum wage earners)=$110.5 billion
That $110 billion from raising 10% of the above minimum average wage earner's due to raising minimum wage on 3.3 million 25% age 16 to 19!

Are you ready to see your food/etc. costs rise ???

Are you ready to see your food/etc. costs rise ???

not me

 

[Kosh]

To the far left the middle class = union jobs.

So yes the minim wage increase helps those in the unions as they will get an instant pay raise.

https://www.opensecrets.org/orgs/list.php

As you can see why the far left really wants the increase..

 

[OnePercenter]

Obama said:
“So far this year, Republicans in Congress have blocked every serious idea to strengthen the middle class.”
Obama specifically mentioned “lifting the minimum wage, fair pay, student loan reform.”
Obama?s claim that the GOP has ?blocked every serious idea? - The Washington Post

So by blocking a minimum wage that would at MOST raise these people's wages:
According to: http://www.bls.gov/cps/minwage2013.pdf :
1) 797,000 people (25.7%) between 16 to 19 years old work at minimum wage of the total of
2) 3.3 million people that work at minimum wage or 1.1% of Americans

How many households are in the middle class:
Depending on the class model used, the middle class constitutes anywhere from 25% to 66% of households.
In terms of personal income distribution in 2005, that would mean gross annual personal incomes from about $32,500 to $60,000.
American middle class - Wikipedia, the free encyclopedia

So Obama!!!
How can the Middle Class be helped by raising the minimum wage when less then 3.3 million people ALL categorized as basically
living at poverty level or "LOWER" class ???

And the answer is:

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees with the Feds refunding city, State, and fees.

-Companies with 300 employees or less, employee expenses above the deduction are subsidized at 100% with funds usually give back to the States.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure. Remove the FICA limit.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years which will eliminate inflation.

-Recall ALL off-shore investments tax free, and disallow any further off-shore investments.

 

[OnePercenter]

To the far left the middle class = union jobs.

So yes the minim wage increase helps those in the unions as they will get an instant pay raise.

https://www.opensecrets.org/orgs/list.php

As you can see why the far left really wants the increase..

Yes, the workers that make all the money for business shouldn't be compensated well.

 

[Kosh]

To the far left the middle class = union jobs.

So yes the minim wage increase helps those in the unions as they will get an instant pay raise.

https://www.opensecrets.org/orgs/list.php

As you can see why the far left really wants the increase..

Yes, the workers that make all the money for business shouldn't be compensated well.

And the far left talking points and propaganda come out!

The far left once again shows that they do not care about the actual middles class, just as long those DNC coffers get filled...

 

[healthmyths]

Obama said:
“So far this year, Republicans in Congress have blocked every serious idea to strengthen the middle class.”
Obama specifically mentioned “lifting the minimum wage, fair pay, student loan reform.”
Obama?s claim that the GOP has ?blocked every serious idea? - The Washington Post

So by blocking a minimum wage that would at MOST raise these people's wages:
According to: http://www.bls.gov/cps/minwage2013.pdf :
1) 797,000 people (25.7%) between 16 to 19 years old work at minimum wage of the total of
2) 3.3 million people that work at minimum wage or 1.1% of Americans

How many households are in the middle class:
Depending on the class model used, the middle class constitutes anywhere from 25% to 66% of households.
In terms of personal income distribution in 2005, that would mean gross annual personal incomes from about $32,500 to $60,000.
American middle class - Wikipedia, the free encyclopedia

So Obama!!!
How can the Middle Class be helped by raising the minimum wage when less then 3.3 million people ALL categorized as basically
living at poverty level or "LOWER" class ???

And the answer is:

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees with the Feds refunding city, State, and fees.

-Companies with 300 employees or less, employee expenses above the deduction are subsidized at 100% with funds usually give back to the States.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure. Remove the FICA limit.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years which will eliminate inflation.

-Recall ALL off-shore investments tax free, and disallow any further off-shore investments.

OK.. RAISE ALL hourly workers to $23.50 from what is currently an average of $15 per hour.
Cost to businesses: 79 million hourly wage earners paid for 2,080 hours a year --- total additional costs raising everyone to $23.50 would be $1.4 trillion .
Which means businesses deduct these costs from their taxes meaning federal/state/local tax revenue would be reduced by $1.4 trillion.

Eliminate business deductions. Here are the ones you'd eliminate:

The Top 20 Tax Expenditures - Business Insider

1. $171 billion in 2012 was deducted from taxes for... health insurance for EMPLOYEES!! HEALTH Insurance payments for EMPLOYEES DEDUCTION.. Individuals NOT the "RICH"
   
   So that means ALL health insurance for 150 million employees CANCELLED!
   
2. $138 billion for employees pensions! (Again ... for the employees... NOT THE RICH!!
   
   Pensions cancelled for 150 million employees!

So now you have RAISED costs for businesses by $1.4 trillion, but you have cancelled 150 million people's health and pension plans.

Great thinking!!!

 

[rdean]

Obama said:
“So far this year, Republicans in Congress have blocked every serious idea to strengthen the middle class.”
Obama specifically mentioned “lifting the minimum wage, fair pay, student loan reform.”
Obama?s claim that the GOP has ?blocked every serious idea? - The Washington Post

So by blocking a minimum wage that would at MOST raise these people's wages:
According to: http://www.bls.gov/cps/minwage2013.pdf :
1) 797,000 people (25.7%) between 16 to 19 years old work at minimum wage of the total of
2) 3.3 million people that work at minimum wage or 1.1% of Americans

How many households are in the middle class:
Depending on the class model used, the middle class constitutes anywhere from 25% to 66% of households.
In terms of personal income distribution in 2005, that would mean gross annual personal incomes from about $32,500 to $60,000.
American middle class - Wikipedia, the free encyclopedia

So Obama!!!
How can the Middle Class be helped by raising the minimum wage when less then 3.3 million people ALL categorized as basically
living at poverty level or "LOWER" class ???

In 2012, 75.3 million workers in the United States age 16 and over were paid at hourly rates, representing 59.0 percent of all wage and salary workers. 1 Among those paid by the hour, 1.6 million earned exactly the prevailing federal minimum wage of $7.25 per hour. About 2.0 million had wages below the federal minimum.2 Together, these 3.6 million workers with wages at or below the federal minimum made up 4.7 percent of all hourly paid workers. Tables 1 through 10 present data on a wide array of demographic and socioeconomic characteristics for hourly paid workers earning at or below the federal minimum wage. The following are some highlights from the 2012 data.

Characteristics of Minimum Wage Workers: 2012

3.6 million are a lot of people.

 

[healthmyths]

Obama said:
“So far this year, Republicans in Congress have blocked every serious idea to strengthen the middle class.”
Obama specifically mentioned “lifting the minimum wage, fair pay, student loan reform.”
Obama?s claim that the GOP has ?blocked every serious idea? - The Washington Post

So by blocking a minimum wage that would at MOST raise these people's wages:
According to: http://www.bls.gov/cps/minwage2013.pdf :
1) 797,000 people (25.7%) between 16 to 19 years old work at minimum wage of the total of
2) 3.3 million people that work at minimum wage or 1.1% of Americans

How many households are in the middle class:
Depending on the class model used, the middle class constitutes anywhere from 25% to 66% of households.
In terms of personal income distribution in 2005, that would mean gross annual personal incomes from about $32,500 to $60,000.
American middle class - Wikipedia, the free encyclopedia

So Obama!!!
How can the Middle Class be helped by raising the minimum wage when less then 3.3 million people ALL categorized as basically
living at poverty level or "LOWER" class ???

In 2012, 75.3 million workers in the United States age 16 and over were paid at hourly rates, representing 59.0 percent of all wage and salary workers. 1 Among those paid by the hour, 1.6 million earned exactly the prevailing federal minimum wage of $7.25 per hour. About 2.0 million had wages below the federal minimum.2 Together, these 3.6 million workers with wages at or below the federal minimum made up 4.7 percent of all hourly paid workers. Tables 1 through 10 present data on a wide array of demographic and socioeconomic characteristics for hourly paid workers earning at or below the federal minimum wage. The following are some highlights from the 2012 data.

Characteristics of Minimum Wage Workers: 2012

3.6 million are a lot of people.

In 1980, 15 percent of hourly workers earned the minimum wage.
Today that share is down to only 4.7 percent.
Almost Everything You Have Been Told About The Minimum Wage Is False - Forbes

According to: http://www.bls.gov/cps/minwage2013.pdf :
1) 797,000 people (25.7%) between 16 to 19 years old work at minimum wage of the total of
2) 3.3 million people that work at minimum wage or 1.1% of Americans

That leaves 2.5 million over 19.

AND since 25% of the 3.3 million are between ages 16 and 19 raising minimum wage by 30% means it is cheaper to hire robots and or convert to self service.Thus most food service employers will look at ways to reduce this 30% increase either by raising their prices or letting people go i.e. the 16 to 19s!
So how can raising the minimum wage help the "middle class" when obviously these workers do not make the median income of "middle class"!

 

[NYcarbineer]

OR does Obama know how many people earn the minimum wage AND how many are between 16 and 19 years old that will probably be let go as their entry level low skilled jobs will be eliminated. Remember how fascinated he was to learn bank tellers' jobs are being eliminated by ATMs?

Adjusted for inflation the minimum wage is lower than it was in 1968.

How many low end jobs have been eliminated in the last 50 years,

despite the minimum wage not being any higher?