Obama wants to raise minimum wage to NINE DOLLARS AN HOUR

[Branden Albert's Huge Balls]

@RyanLizza: Obama will call for raising the federal minimum wage to $9.00/hour.

[J Diddy]

Originally Posted by Saul Good

Not to worry. BRC assures us that a minimum wage increase has never driven a company out of business.

If a minimum wage increase pushes someone out of business they were not sound to begin with.

[BucEyedPea]

Originally Posted by J Diddy

If a minimum wage increase pushes someone out of business they were not sound to begin with.

at the economic ignorance.


Why not make it $9 a minute?

[ClevelandBronco]

Listo, BRC, don't bother trying to help him. He was smart enough to essentially abandon that position himself with his last statement.

[Amnorix]

Originally Posted by ClevelandBronco

Oh good grief, just admit that you really shouldn't have tried sliding that one over the plate.

Errr...no, actually.

Let's just say that if forced to choose between $2.00 in someone subsisting on minimum wage's wallet or in the bank account of someone who is economically "comfortable", whatever that means, it's probably somewhat better for the economy to be in the minimum wage guy's wallet, because it isn't likely to stay there.

Consumerism is a key component of economic growth as well. Right now we have quite alot of money on the "sidelines" after all.

[BucEyedPea]

Originally Posted by ClevelandBronco

It isn't remotely a justification, let alone a justification in and of itself. You aren't really under the impression that money in a bank is money that's sitting on the sidelines, are you? The bank puts that money in the game just as surely as the minimum wage worker that buys a beer with it.

Savings results in investment, which grows jobs. The Keynesians, like Amnorix, seem to think wealth is based on consumption only. It leads to what we're in now.

[DJ's left nut]

Originally Posted by BigRedChief

This is a common sense explanation of why the majority of economists think it doesnt hurt the economy but makes it better in the long run.

It's also purely speculative and still assumes that the $2 is coming from 'the corporate fat cats' that are otherwise just going to squirrel it away in a bank.

If you're firing people to make the room for the mandated raises, that's a 1-1 transfer; it accomplishes nothing. If you're passing it onto consumers, there may be a slight 'stimulus' effect created by having a pool that also includes more wealthy purchasers subsidize the $2, but if you'll listen to the fine folks with the Occupy movements, the rich are only 1% of consumers so that seems to be a nominal bump at best.

And in the end, minimum wage workers tend to spend that money on nothingness; easily consumed products that have a fairly minimal impact on economic growth. Meanwhile, if you keep money in the hands of the middle class or small business owners, they'll put that money into more efficient investment vehicles or longer term assets that yield greater returns in the long-run.

[ClevelandBronco]

I stand corrected. Some people are capable of admitting small mistakes, some people would rather double down on them.

Monday Night Football was invented for such people.

[DJ's left nut]

Originally Posted by J Diddy

If a minimum wage increase pushes someone out of business they were not sound to begin with.

Oh like I said - it's not going to push me out of business.

But I'm firing someone if it passes and it's someone that had an actual good job. That's just the way of it.

But at least Lonnie the staple jockey will have more beer money because of it. Thanks, Obama!

[J Diddy]

Originally Posted by BucEyedPea

at the economic ignorance.


Why not make it $9 a minute?

What exactly are you saying besides calling me ignorant and throwing an arbitrary number out there?

Please, your point?

[Saul Good]

Originally Posted by BigRedChief

This is a common sense explanation of why the majority of economists think it doesnt hurt the economy but makes it better in the long run.

Why stop at $9.00 then?

[J Diddy]

Originally Posted by DJ's left nut

Oh like I said - it's not going to push me out of business.

But I'm firing someone if it passes and it's someone that had an actual good job. That's just the way of it.

But at least Lonnie the staple jockey will have more beer money because of it. Thanks, Obama!

With all due respect, if you have someone on board that you can afford to fire just like that because of a mandated wage increase then you're not maximizing profit in the first place.

The funny thing is that MO is adjustable yearly and has already surpassed the Fed. by a dime.

Guess someone's getting the axe soon.

[Saul Good]

Originally Posted by J Diddy

If a minimum wage increase pushes someone out of business they were not sound to begin with.

Let's just start driving stakes through the hearts of struggling businesses, then. I mean, if they can't absorb a 25% increase in labor expenses for their least productive workers, **** 'em.

[Rain Man]

Does a change in minimum wage really make a difference? You raise those people's salaries. It increases costs so prices go up. It ripples through the economy. Everyone's wages go up a little. Everyone's prices go up a little. In the end, we added some inflation and the minimum wage has no more buying power than it had before.

I guess the only difference is that an increase in the minimum wage might give imports a new price advantage.

I'm probably oversimplifying it a bit. It might produce some changes like fewer fast food visits and more grocery visits, so I guess it could create some winners and losers in that regard.

The key to me is that it's uniform. My beloved city of Denver, which will pass any tax at any time for any purpose, finally put its foot down a few years back on a proposed minimum wage hike that would only affect the city. So imagine that our city of 500,000 in the midst of a metro area of 2.5 million was thinking of increasing costs for service businesses when people can drive two miles and get the same thing for a cheaper cost. It was such a colossally bad idea that even Denver wouldn't pass it.

[Branden Albert's Huge Balls]

Rain Man is the second-smartest man on this forum, so this seals it. Obama is terrible.

[Saul Good]

Originally Posted by J Diddy

With all due respect, if you have someone on board that you can afford to fire just like that because of a mandated wage increase then you're not maximizing profit in the first place.

The funny thing is that MO is adjustable yearly and has already surpassed the Fed. by a dime.

Guess someone's getting the axe soon.

So businesses are SUPPOSED to maximize profit by working the shit out of their employees?

I love the liberal duplicity. On the one hand, corporations are evil if they try to take advantage of the job market by squeezing more work out of their employees. On the other hand, if they bring on additional workers to spread the load, **** 'em. Shoulda maximized your profits, suckers.