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Old 02-12-2013, 07:16 PM  
Count Zarth Count Zarth is offline
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Obama wants to raise minimum wage to NINE DOLLARS AN HOUR



@RyanLizza: Obama will call for raising the federal minimum wage to $9.00/hour.
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Old 02-13-2013, 10:27 AM   #106
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We shouldn't be focusing on the $9 number, this is really about tying the minimum wage to inflation and cost of living.
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Old 02-13-2013, 10:30 AM   #107
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We shouldn't be focusing on the $9 number, this is really about tying the minimum wage to inflation and cost of living.
...by increasing the cost of living. Okay.
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Old 02-13-2013, 10:30 AM   #108
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Yup. The cost of virtually every consumer good is going to go up and fairly substantially in many cases.

In the meantime, 90% of heads of households aren't going to see an increase in their wages to offset it.

The idea that there is this massive segment of America that is trying to feed families off minimum wage is just bullshit. Some of them may start at that rate but they're full time laborers that are competing against high school/college aged kids and/or people that are moonlighting in an area or doing it for reasons other than pure economics. They rapidly get raises that put them above 7.25.

Minimum wage increases are by and large bad for 'working class' families and worse for the economy at large.

But hey, why expect economic sanity when there are cheap political points to be earned and populist axes to grind?

This isn't true. Minimum wage increases usually stunt hiring for a short period but they end up being stimulative and lead to minimum wage job gains.

There have been more than one economist who has demonstrated this.
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Old 02-13-2013, 10:33 AM   #109
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This isn't true. Minimum wage increases usually stunt hiring for a short period but they end up being stimulative and lead to minimum wage job gains.

There have been more than one economist who has demonstrated this.
Minimum wage job gains because people were making above minimum wage prior are now making minimum wage. Hooray!
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Old 02-13-2013, 10:33 AM   #110
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This isn't true. Minimum wage increases usually stunt hiring for a short period but they end up being stimulative and lead to minimum wage job gains.

There have been more than one economist who has demonstrated this.
In my personal experience that is incorrect. The increase led to fewer jobs and inferior goods/services.
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Old 02-13-2013, 10:34 AM   #111
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Originally Posted by KC native View Post
This isn't true. Minimum wage increases usually stunt hiring for a short period but they end up being stimulative and lead to minimum wage job gains.

There have been more than one economist who has demonstrated this.
Sure. Every business welcomes opportunity to increase cost of doing business. Its a very hallmark of the success model.
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Old 02-13-2013, 10:36 AM   #112
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Anyone have any insight as to why the minimum wage is 9.19 in Washington?
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Old 02-13-2013, 10:42 AM   #113
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Anyone have any insight as to why the minimum wage is 9.19 in Washington?
It's higher in 19 states than the national level.
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Old 02-13-2013, 10:50 AM   #114
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Not if we took away the incentive to sit on said ass.
Now there's a novel concept
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Old 02-13-2013, 10:58 AM   #115
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Quote:
Originally Posted by KC native View Post
This isn't true. Minimum wage increases usually stunt hiring for a short period but they end up being stimulative and lead to minimum wage job gains.

There have been more than one economist who has demonstrated this.
In industries that can pass on costs to consumers, you're correct. Many industries, however, can't do that.

I agree with you that they don't necessarily have to increase unemployment but they do have to lead to a response. In my case, it's going to be taking away some jobs. In the case of many other companies, it's going to be passed on to consumers. The only way to avoid that is the 'stimulative' impact you're talking about where suddenly these folks are going to start driving money back into the economy and increase to an overall uptick in economic health.

In this economy do you really think that's going to happen? We're going on 5 years of stagnation and you really think that giving a bunch of college kids another $2 hour (and that $2 has to come from somewhere) is going to jump-start the economy?

I'm not buying it.
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Old 02-13-2013, 11:00 AM   #116
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Quote:
Originally Posted by KC native View Post
This isn't true. Minimum wage increases usually stunt hiring for a short period but they end up being stimulative and lead to minimum wage job gains.

There have been more than one economist who has demonstrated this.
THIS! only in the short term is anyone effected but in the long term more business is created because those people with the increased minimum wage immediately spend that money. The majority of economists say this is what happens,

Every time the raise of the minimum wage is brought up the same arguments are made. It never changes.

I personally think that the richest country in the world can afford to pay a fair wage to its citizens that work 40 hours a week. What's a fair wage? Thats debatable, but it would seem the low bar is not living in poverty.

I think if you stay working at minimum wage for years, thats on you. And you need to make better choices in your life.

The $9 an hour when adjusted to inflation is at the minimum wage level circa 1981. That is a 32 year wait for a raise. The question I have for those opposed to this.............. If waiting for 32 years is not long enough, just how long should the minimum wage worker wait for a raise?

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I believe Hitler hated Jews and had a lot of them killed. I dont believe it was anywhere close to 6 million though. I'm not an anti-semite; I just think that number has been severely inflated and there is a lot of evidence that supports this belief.
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Old 02-13-2013, 11:07 AM   #117
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It's higher in 19 states than the national level.
Imagine that. Handling such an issue at the state level. Crazy.
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Old 02-13-2013, 11:08 AM   #118
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THIS! only in the short term is anyone effected but in the long term more business is created because those people with the increased minimum wage immediately spend that money. The majority of economists say this is what happens,

Every time the raise of the minimum wage is brought up the same arguments are made. It never changes.

I personally think that the richest country in the world can afford to pay a fair wage to its citizens that work 40 hours a week. What's a fair wage? Thats debatable, but it would seem the low bar is not living in poverty.

I think if you stay working at minimum wage for years, thats on you. And you need to make better choices in your life.

The $9 an hour when adjusted to inflation is at the minimum wage level circa 1981. That is a 32 year wait for a raise. The question I have for those opposed to this.............. If waiting for 32 years is not long enough, just how long should the minimum wage worker wait for a raise?

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And where did it come from?

Yes, minimum wage workers have more money. Unlike the Fed, business can't just print it so it came from somewhere.

It doesn't spur the economy because a minimum wage increase robs Peter to pay Paul. That same $2 was already in the economy.

And if a minimum wage earner can't earn a raise, then he can just keep waiting. Minimum wage employees, by their very definition, are completely fungible. If they aren't, you'll give them a raise to keep them. And if they're fungible, they can ask for raises all they want but they aren't going to get them.
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Old 02-13-2013, 11:11 AM   #119
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Imagine that. Handling such an issue at the state level. Crazy.
I'd be okay with that issue being handled at the state level.
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Old 02-13-2013, 11:28 AM   #120
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If waiting for 32 years is not long enough, just how long should the minimum wage worker wait for a raise?

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Until he earns one by becoming better at his job, or taking on a promotion to more difficult responsibilities?
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