Obama's Minimum Wage Hike "Won't Meaningfully Help Economy"

[Geaux4it]

Interesting read on the smoke and mirrors re: minimum wage

-Geaux


Obama's Minimum Wage Hike "Won't Meaningfully Help Economy"

The US minimum wage has been a common news topic lately - increasing its sound and fury since President Obama's State of the Union proclamation of a rise in federal employee minimum wages to $10.10 (from $7.25). While obviously a contentious political issue, one question keeps coming up - will this help?

As BofAML notes in a recent report, a simple back-of-the-envelope calculation suggests that the rise in wages from a minimum wage increase would amount to fractions of a percentage point on macroenomic data.

There simply are not enough people working at (or below, since some jobs are exempted) the minimum wage to have a noticeable impact on the total wage bill and in the end, there are just too few people, earning far too little, at the minimum wage to meaningful affect aggregate macroeconomic statistics.

So why is he doing it?

Read the rest here: Obama's Minimum Wage Hike "Won't Meaningfully Help Economy" | Zero Hedge

 

[rightwinger]

It will help those working for minimum wage

 

[JoeB131]

If it won't make that much of a difference, then why are you whining about it?

Oh, I'm sure I will get some convoluted answer that will involve the word "Freedom".

 

[Geaux4it]

It will help those working for minimum wage

Since the cost of the raise is passed to the consumer, there's no net gain for the employee relative to the increase. They will have no more purchasing power than they do already

-Geaux

 

[Bumberclyde]

It will help those working for minimum wage

Since the cost of the raise is passed to the consumer, there's no net gain for the employee relative to the increase. They will have no more purchasing power than they do already

-Geaux

Yes they will because the cost will be spread out among ALL the consumers, not just the minimum wagers.

 

[rightwinger]

It will help those working for minimum wage

Since the cost of the raise is passed to the consumer, there's no net gain for the employee relative to the increase. They will have no more purchasing power than they do already

-Geaux

They will have $6000 additional purchasing power

 

[blastoff]

Barry and his cabal know it's all smoke and mirrors but their rhetoric resonates with their huge horde of low information backers, including those earning better than minimum wage. The former see it as a raise for their labors and the latter feel good about their brethrens' windfall and thus get Matthews-like feelings running up their legs.

It's idiocy but it fits the dimocrats to a tee.

 

[editec]

Interesting read on the smoke and mirrors re: minimum wage

-Geaux


Obama's Minimum Wage Hike "Won't Meaningfully Help Economy"



So why is he doing it?

Read the rest here: Obama's Minimum Wage Hike "Won't Meaningfully Help Economy" | Zero Hedge

Ah...to help people who are not making it?

To stop paying (by proxie corporate welfare by removing theur ability to pay piss-ass wages.

That's why.

 

[Wry Catcher]

Interesting read on the smoke and mirrors re: minimum wage

-Geaux


Obama's Minimum Wage Hike "Won't Meaningfully Help Economy"

The US minimum wage has been a common news topic lately - increasing its sound and fury since President Obama's State of the Union proclamation of a rise in federal employee minimum wages to $10.10 (from $7.25). While obviously a contentious political issue, one question keeps coming up - will this help?

As BofAML notes in a recent report, a simple back-of-the-envelope calculation suggests that the rise in wages from a minimum wage increase would amount to fractions of a percentage point on macroenomic data.

There simply are not enough people working at (or below, since some jobs are exempted) the minimum wage to have a noticeable impact on the total wage bill and in the end, there are just too few people, earning far too little, at the minimum wage to meaningful affect aggregate macroeconomic statistics.

So why is he doing it?


This thread and the question asked by its author ("So why is he doing it?") tell us this Callous Conservative lacks the normal human emotion of empathy. Is this true of all Callous Conservatives, and knowing the right usually characterizes liberals of what the right does or is, is Callous Conservatism a "Mental Disorder" ?

 

[TakeAStepBack]

This thread and the question asked by its author ("So why is he doing it?") tell us this Callous Conservative lacks the normal human emotion of empathy. Is this true of all Callous Conservatives, and knowing the right usually characterizes liberals of what the right does or is, is Callous Conservatism a "Mental Disorder" ?

Appeal to emotion responses in economic debate aren't useful. It's also a logical fallacy. But we knew you wouldn't bring anything else to the table.

 

[Wry Catcher]

This thread and the question asked by its author ("So why is he doing it?") tell us this Callous Conservative lacks the normal human emotion of empathy. Is this true of all Callous Conservatives, and knowing the right usually characterizes liberals of what the right does or is, is Callous Conservatism a "Mental Disorder" ?

Appeal to emotion responses in economic debate aren't useful. It's also a logical fallacy. But we knew you wouldn't bring anything else to the table.

Gee, nice effort to appear educated. Tell me, how a statement of observable fact is an appeal to emotion? Oh, and let's speak to your logical fallacy, attacking me (ad Hominem) and not taking on the premise of my argument and its conclusion: Callous Conservatives lack empathy (you might argue they are simply greedy but still have feelings and care about the poor and hungry).

 

[TakeAStepBack]

This thread and the question asked by its author ("So why is he doing it?") tell us this Callous Conservative lacks the normal human emotion of empathy. Is this true of all Callous Conservatives, and knowing the right usually characterizes liberals of what the right does or is, is Callous Conservatism a "Mental Disorder" ?

Appeal to emotion responses in economic debate aren't useful. It's also a logical fallacy. But we knew you wouldn't bring anything else to the table.

Gee, nice effort to appear educated. Tell me, how a statement of observable fact is an appeal to emotion? Oh, and let's speak to your logical fallacy, attacking me (ad Hominem) and not taking on the premise of my argument and its conclusion: Callous Conservatives lack empathy (you might argue they are simply greedy but still have feelings and care about the poor and hungry).

That's not an observable fact. What it is, is a twisted and retarded LOLberal projection. Empathy has nothing to do with economics. The rest of what you have there is the typical and expected drivel you offer normally.

 

[Faun]

Interesting read on the smoke and mirrors re: minimum wage

-Geaux


Obama's Minimum Wage Hike "Won't Meaningfully Help Economy"

The US minimum wage has been a common news topic lately - increasing its sound and fury since President Obama's State of the Union proclamation of a rise in federal employee minimum wages to $10.10 (from $7.25). While obviously a contentious political issue, one question keeps coming up - will this help?

As BofAML notes in a recent report, a simple back-of-the-envelope calculation suggests that the rise in wages from a minimum wage increase would amount to fractions of a percentage point on macroenomic data.

There simply are not enough people working at (or below, since some jobs are exempted) the minimum wage to have a noticeable impact on the total wage bill and in the end, there are just too few people, earning far too little, at the minimum wage to meaningful affect aggregate macroeconomic statistics.

So why is he doing it?

Read the rest here: Obama's Minimum Wage Hike "Won't Meaningfully Help Economy" | Zero Hedge

A Conservative acting like they know anything about the economy!!

That's funny.

Hey, Conservative, if America thought Conservatives knew anything about the economy, they would have elected one for president.

 

[TakeAStepBack]

Interesting read on the smoke and mirrors re: minimum wage

-Geaux


Obama's Minimum Wage Hike "Won't Meaningfully Help Economy"

The US minimum wage has been a common news topic lately - increasing its sound and fury since President Obama's State of the Union proclamation of a rise in federal employee minimum wages to $10.10 (from $7.25). While obviously a contentious political issue, one question keeps coming up - will this help?

As BofAML notes in a recent report, a simple back-of-the-envelope calculation suggests that the rise in wages from a minimum wage increase would amount to fractions of a percentage point on macroenomic data.

There simply are not enough people working at (or below, since some jobs are exempted) the minimum wage to have a noticeable impact on the total wage bill and in the end, there are just too few people, earning far too little, at the minimum wage to meaningful affect aggregate macroeconomic statistics.

So why is he doing it?

Read the rest here: Obama's Minimum Wage Hike "Won't Meaningfully Help Economy" | Zero Hedge

A Conservative acting like they know anything about the economy!!

That's funny.

Hey, Conservative, if America thought Conservatives knew anything about the economy, they would have elected one for president.

Another short bus rider enters the frey. Have a seat by Wry over there, fella.

 

[Faun]

Interesting read on the smoke and mirrors re: minimum wage

-Geaux


Obama's Minimum Wage Hike "Won't Meaningfully Help Economy"

The US minimum wage has been a common news topic lately - increasing its sound and fury since President Obama's State of the Union proclamation of a rise in federal employee minimum wages to $10.10 (from $7.25). While obviously a contentious political issue, one question keeps coming up - will this help?

As BofAML notes in a recent report, a simple back-of-the-envelope calculation suggests that the rise in wages from a minimum wage increase would amount to fractions of a percentage point on macroenomic data.

There simply are not enough people working at (or below, since some jobs are exempted) the minimum wage to have a noticeable impact on the total wage bill and in the end, there are just too few people, earning far too little, at the minimum wage to meaningful affect aggregate macroeconomic statistics.

So why is he doing it?

Read the rest here: Obama's Minimum Wage Hike "Won't Meaningfully Help Economy" | Zero Hedge

A Conservative acting like they know anything about the economy!!

That's funny.

Hey, Conservative, if America thought Conservatives knew anything about the economy, they would have elected one for president.

Another short bus rider enters the frey. Have a seat by Wry over there, fella.

So we have one rightard acting like Conservatives know anything about the economy and now we have another one acting like he gets to tell others what to do.

 

[Defiant1]

Could this be a ploy to get more people on Obamacare?

I just did the math.

$7.25 x 40 hrs. = $290

$290 / $10.10 = 29 hrs.

I can keep my payroll the same and I can stop offering insurance.

 

[Faun]

Interesting read on the smoke and mirrors re: minimum wage

-Geaux


Obama's Minimum Wage Hike "Won't Meaningfully Help Economy"

The US minimum wage has been a common news topic lately - increasing its sound and fury since President Obama's State of the Union proclamation of a rise in federal employee minimum wages to $10.10 (from $7.25). While obviously a contentious political issue, one question keeps coming up - will this help?

As BofAML notes in a recent report, a simple back-of-the-envelope calculation suggests that the rise in wages from a minimum wage increase would amount to fractions of a percentage point on macroenomic data.

There simply are not enough people working at (or below, since some jobs are exempted) the minimum wage to have a noticeable impact on the total wage bill and in the end, there are just too few people, earning far too little, at the minimum wage to meaningful affect aggregate macroeconomic statistics.

So why is he doing it?

Read the rest here: Obama's Minimum Wage Hike "Won't Meaningfully Help Economy" | Zero Hedge

It adds about 4 billion/year into the economy. That doesn't fix the economy but it certainly helps. Certainly more than the do-nothing Republicans are offering.

 

[TakeAStepBack]

It adds about 4 billion/year into the economy. That doesn't fix the economy but it certainly helps. Certainly more than the do-nothing Republicans are offering.

Adjusting minimum wage rates doesn't add any money into the economy. That's the stupidest shit I've heard today.

 

[Delta4Embassy]

If it helps the economy too, swell. But it's meant to help the people working full-time yet still living below the federal poverty line.

 

[Sallow]

It will help those working for minimum wage

Since the cost of the raise is passed to the consumer, there's no net gain for the employee relative to the increase. They will have no more purchasing power than they do already

-Geaux

Wait, what?

Where does that happen?

These are companies contracted by the Federal government competing, like hungry rats, for government cheese.