Should all jobs be required to pay at least a living wage?

[EdwardBaiamonte]

And no, prices dont rise because the minimum wage goes up. .

so the law of supply and demand is mistaken after all?? Rolls sells more than VW because of its higher prices? Rolex sells more than Timex because of its higher prices. Neiman Marcus sells more than Walmart because of its higher prices??

See why we say slow, so very very slow!!

 

[Rozman]

I heard a bit of the Ed Schultz radio show today.
The talk was about making all illegal aliens American citizens right away.
Then the conversation shifted to paying these fine folks the American wage they would now be entitled.

The point was in a sense to punish the companies that hired these Illegals and had been paying them on the cheap and now they had to pay a fair wage.

This led me to my thought that how long would it be before the Gloria Alred types of the country come out and filed a class action lawsuit claiming damages and demanding back pay and punitive
damages for having paid these people on the cheap all these years...

 

[The Rabbi]

Right, keep telling yourselves that you're going to shop at the place where its like a soviet gulag, all standing in line for 4 hours to buy a pair of shoes; Americans wont put up with that shit, companies will lose business. Again, why would they have hired these "extra" cashiers at all if they could get by with less as is?

And no, prices dont rise because the minimum wage goes up. Rather, when wealth is concentrated at the top, in the hands of a few people that only care for themselves, the free market is susceptible to cornering; eg how we were getting gouged on gas under bush.

And the quantity stays the same, its the demand that goes down, this isnt madlibs, words have meanings.

Every time I think you can't say anything more stupid you surprise me.
Gas was lower under Bush than Obama. So gas was cornered under Bush, when prices were lower, but higher under Obama when prices were higher?

Yeah words have meanings. Shmuck is the one that comes to mind.

 

[EdwardBaiamonte]

I heard a bit of the Ed Schultz radio show today.
The talk was about making all illegal aliens American citizens right away.
Then the conversation shifted to paying these fine folks the American wage they would now be entitled.

The point was in a sense to punish the companies that hired these Illegals and had been paying them on the cheap and now they had to pay a fair wage.

This led me to my thought that how long would it be before the Gloria Alred types of the country come out and filed a class action lawsuit claiming damages and demanding back pay and punitive
damages for having paid these people on the cheap all these years...

well that would put the larger immigrant community even more solidly in the liberal voting camp! If buying votes like that were illegal Democrats would disappear!

 

[asterism]

Yes, the shit companies do that lose business to the company that doesnt think it can get by having one of its 15 registers open. In the meantime WE THE PEOPLE are stuck picking up the tab for these companies that dont pay a living wage.

Wow, you really must still be angry over getting let go from that bagger job.

All companies will do the same thing, since they face the same issue--overpriced labor. They will fire employees, they will automate. What they won't do is pay everyone the new wage.

Are you really that ignorant that you cannot see that? Do you think it is just a corporate plot and the right thing is for the execs just to suck it up and sacrifice some of their salary?

And, if you can do so, please try to find a link that shows unemployment being increased as a result of minimum wage increases. You absolutely ignore the fact that those who's wage goes up SPEND that extra salary, immediatly. And the result of that spending is increased demand. Perhaps even some increases in prices. So, you have to determine if you are willing to pay a couple bucks more per month to see less unemployment and fewer people living in poverty;
There is no real question that raising minimum wages has always increased the employment rate over a fairly short period. There is a question, of course, as to how far you can increase it before things go the wrong way. But a few bucks is probably not the problem.

And, before you have us all in tears over those poor corporate execs, consider the following:
Top 1% Got 93% of Income Growth as Rich-Poor Gap Widened - Bloomberg

Can you provide some evidence other than your own theories about the effect of minimum wage increases on employment? You demand a link from those that disagree with you but you haven't provided any to support your position.

Employment and the Minimum Wage?Evidence from Recent State Labor Market Trends | Economic Policy Institute


Looks like a clear result to me.


The problem with your demand-side logic (pay people more, they buy more stuff, economy grows) is that decreasing profit margins reduce the incentive to expand so the economy does not grow.

 

[asterism]

Right, keep telling yourselves that you're going to shop at the place where its like a soviet gulag, all standing in line for 4 hours to buy a pair of shoes; Americans wont put up with that shit, companies will lose business. Again, why would they have hired these "extra" cashiers at all if they could get by with less as is?

And no, prices dont rise because the minimum wage goes up. Rather, when wealth is concentrated at the top, in the hands of a few people that only care for themselves, the free market is susceptible to cornering; eg how we were getting gouged on gas under bush.

And the quantity stays the same, its the demand that goes down, this isnt madlibs, words have meanings.

As opposed to how we have been getting gouged under Obama?

 

[percysunshine]

Isn't it kind of cruel to debate economics with liberals?

 

[Wiseacre]

Isn't it kind of cruel to debate economics with liberals?

Pretty sure it's a waste of time.

 

[ReallyMeow]

Every time I think you can't say anything more stupid you surprise me.
Gas was lower under Bush than Obama. So gas was cornered under Bush, when prices were lower, but higher under Obama when prices were higher?

Liar, liar, pants on fire.
Historical Gas Price Charts - GasBuddy.com

And no, prices dont rise because the minimum wage goes up. .

so the law of supply and demand is mistaken after all?? Rolls sells more than VW because of its higher prices? Rolex sells more than Timex because of its higher prices. Neiman Marcus sells more than Walmart because of its higher prices??

See why we say slow, so very very slow!!

The sky isnt falling chicken little, and diamonds arnt really worth as much as they are marketed for.

 

[asterism]

Every time I think you can't say anything more stupid you surprise me.
Gas was lower under Bush than Obama. So gas was cornered under Bush, when prices were lower, but higher under Obama when prices were higher?

Liar, liar, pants on fire.
Historical Gas Price Charts - GasBuddy.com

And no, prices dont rise because the minimum wage goes up. .

so the law of supply and demand is mistaken after all?? Rolls sells more than VW because of its higher prices? Rolex sells more than Timex because of its higher prices. Neiman Marcus sells more than Walmart because of its higher prices??

See why we say slow, so very very slow!!

The sky isnt falling chicken little, and diamonds arnt really worth as much as they are marketed for.

So Bush gouged us and Obama gouged us at a slightly lower price for a longer period.

That's all you've got?

 

[Rshermr]

Isn't it kind of cruel to debate economics with liberals?

Pretty sure it's a waste of time.

Cons don't discuss. They simply post dogma.

 

[Rshermr]

Every time I think you can't say anything more stupid you surprise me.
Gas was lower under Bush than Obama. So gas was cornered under Bush, when prices were lower, but higher under Obama when prices were higher?

Liar, liar, pants on fire.
Historical Gas Price Charts - GasBuddy.com

so the law of supply and demand is mistaken after all?? Rolls sells more than VW because of its higher prices? Rolex sells more than Timex because of its higher prices. Neiman Marcus sells more than Walmart because of its higher prices??

See why we say slow, so very very slow!!

The sky isnt falling chicken little, and diamonds arnt really worth as much as they are marketed for.

So Bush gouged us and Obama gouged us at a slightly lower price for a longer period.

That's all you've got?

If you are trying to determine gas prices based on some market factors, you are wasting your time. If you are trying to determine gas prices based on political conditions, you are wasting your time.

The oil companies are oligopolies. With great monopoly power. They determine price. Because, you see, they control supply and demand.

For instance, gas prices are rising again. But supply is higher than it has been in years. And demand is lower than in years. So the whole concept of market pricing there is out the window.

 

[asterism]

Liar, liar, pants on fire.
Historical Gas Price Charts - GasBuddy.com

The sky isnt falling chicken little, and diamonds arnt really worth as much as they are marketed for.

So Bush gouged us and Obama gouged us at a slightly lower price for a longer period.

That's all you've got?

If you are trying to determine gas prices based on some market factors, you are wasting your time. If you are trying to determine gas prices based on political conditions, you are wasting your time.

The oil companies are oligopolies. With great monopoly power. They determine price. Because, you see, they control supply and demand.

For instance, gas prices are rising again. But supply is higher than it has been in years. And demand is lower than in years. So the whole concept of market pricing there is out the window.

Reading comprehension isn't your strong suit. A post was made that Bush gouged us on gas and that was refuted by a claim that gas was higher under Obama. A chart showing the price of gas under Bush and Obama was posted to refute that claim and I commented on the claim of gouging.

 

[Meathead]

Right, keep telling yourselves that you're going to shop at the place where its like a soviet gulag, all standing in line for 4 hours to buy a pair of shoes; Americans wont put up with that shit, companies will lose business. Again, why would they have hired these "extra" cashiers at all if they could get by with less as is?

You have no idea what a Gulag was, do you? In addition to being obviously of little intelligence, unfortunate, but with some inevitable, you are also ignorant.

The problem with the USSR economy was not with labor cost, which was sufficiently cheap because most everyone worked for the state. The problem was of production and supply. Governments issued production quotas based on bureaucratic standards and needs rather than on a free market.

If, in retail outlets, you had two wait twice as long, say 6 minutes instead of 3, you would. If you wanted to bitch about it you would have to address the minimum wage law. I understand all this is way over your head.

 

[The Rabbi]

Every time I think you can't say anything more stupid you surprise me.
Gas was lower under Bush than Obama. So gas was cornered under Bush, when prices were lower, but higher under Obama when prices were higher?

Liar, liar, pants on fire.
Historical Gas Price Charts - GasBuddy.com

Again proving you do not know how to read a chart.

I have to say, you might be the most obnoxiously misinformed poster here. I think you need to go on iggy with your pals.

 

[ReallyMeow]

For instance, gas prices are rising again. But supply is higher than it has been in years. And demand is lower than in years. So the whole concept of market pricing there is out the window.

Weird huh? By allowing wealth to pool at the top, competition ceases to be a part of our economy.
2000s energy crisis - Wikipedia, the free encyclopedia

also a thing right now:
A Mysterious Patch Of Light Shows Up In The North Dakota Dark : Krulwich Wonders... : NPR

 

[EdwardBaiamonte]

Liar, liar, pants on fire.
Historical Gas Price Charts - GasBuddy.com

The sky isnt falling chicken little, and diamonds arnt really worth as much as they are marketed for.

So Bush gouged us and Obama gouged us at a slightly lower price for a longer period.

That's all you've got?

If you are trying to determine gas prices based on some market factors, you are wasting your time. If you are trying to determine gas prices based on political conditions, you are wasting your time.

The oil companies are oligopolies. With great monopoly power. They determine price. Because, you see, they control supply and demand.

For instance, gas prices are rising again. But supply is higher than it has been in years. And demand is lower than in years. So the whole concept of market pricing there is out the window.

it is not much of a free market, that is true, but its primarily because liberal environmental restrictions make it hard to explore and refine.
It is really only the liberal government that stops competitive market pricing that usually will drive profits lower and lower.

 

[The Rabbi]

If oil companies were really oligopolies and had pricing power then why would they ever let the price of gas decline? Yet we've seen major swings over the last 5 years. So that argument is a fail.

 

[EdwardBaiamonte]

If oil companies were really oligopolies and had pricing power then why would they ever let the price of gas decline? Yet we've seen major swings over the last 5 years. So that argument is a fail.

not to mention that if price ever rose much they would immediately be replaced by natural gas or electric cars which are already on the road just waiting for opportunity to strike. You always have to worry about your competition and would-be competition in a capitalist economy.

 

[Rshermr]

Simple enough. Because their method of raising prices is to raise, then lower. Not direct, continual raising. Because the oil companies know that the public gets used to a high price, then irate as it gets too high, and then happy again when the price declines part way. It is a repeat process. I worked at a relatively high level with BP in Anchorage, and to the folks there it is a joke.

Go look up oligopoly. It is classic oligopoly.

And wonder why, when the supply is higher and demand lower than it has been for years, the price has gone up, in general.