Bernie Sanders explains why minimum wage laws are a bad idea, he just doesn't realize it...

[2aguy]

yes....socialists are dumb......only when they have countries with lots of money do their stupid ideas work for a while...and as the saying goes...eventually they run out of other peoples money.......

Blog Bernie Sanders inadvertently makes the case against a 15 minimum wage


Forbes Tim Worstall shows how Senator Bernie Sanders actually proves the case against a $15 an hour minimum wage on his own webpage:

This isn’t, perhaps, quite what Bernie Sanders thinks he is saying over on his Senate page but it is indeed what he is saying. He’s providing us with the proof perfect that a rise in the minimum wage to $15 an hour will costs jobs.

For he’s telling us that the rise in the minimum wage will be paid for by a combination of three things.

Firstly, a rise in prices of goods made by minimum wage labour. This will reduce the volume of such goods purchased (no, really, demand curves do slope downwards) and thus lead to less minimum wage labour being employed. Part of it will be paid for by lower profits. And yes, demand curves really do slope downwards meaning that fewer people will be interested in the profits that can be earned by employing minimum wage labour: thus less minimum wage labour will be employed.

Finally, he tells us that there will be a forced rise in the productivity with which labour is used: and a rise in productivity is the same thing as stating that less labour will be used.



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[S.J.]

Socialists are indeed idiots.

 

[amrchaos]

Well, if you don't employ minimum wage workers for cheaper labor, who do you employ?

I guess you employ less workers and work them harder?
Or you charge more for your product? But you should sell less product.

 

[DarkFury]

I used to live in Seattle and when Boeing got a raise the rent for everyone went up not just Boeing workers. The very idea that liberals even think those people will keep any of that money shows their total lack of understanding base economics.

Taxes will rise because city and state will want "their" cut.
Grocery and gas stations will go up because they want "their cut.
Rents will go up because they want "their"cut.
Utilities will go up because they want "their" cut.

So nothing has changed but a number. Well maybe one thing has. The SKILLED labor guy who WAS charging the 15 dollar UNSKILLED labor guy 45 dollars an hour to fix his car now will charge 60.

So in the end he lost ground but he's SUPPOSED to feel better.

 

[amrchaos]

But then, you are referencing the American Thinker, so I can just throw this out with birthism, bircherism, and creeping Sharia.

Please use a more creditable source. Or place your wingnut dailies in satire. Too-da-loo!!

 

[The Rabbi]

But then, you are referencing the American Thinker, so I can just throw this out with birthism, bircherism, and creeping Sharia.

Please use a more creditable source. Or place your wingnut dailies in satire. Too-da-loo!!

Typical. You dont understandf the argument. You cannot refute the argument. And so your only move is to discredit the source as unreliable, even though the source is actually Bernie Sanders' own page.
You're a piece of shit.

But yes, economics is a science. Increase prices and you get less commerce in that thing. Increase wage prices and you get fewer people working.

 

[amrchaos]

But then, you are referencing the American Thinker, so I can just throw this out with birthism, bircherism, and creeping Sharia.

Please use a more creditable source. Or place your wingnut dailies in satire. Too-da-loo!!

Typical. You dont understandf the argument. You cannot refute the argument. And so your only move is to discredit the source as unreliable, even though the source is actually Bernie Sanders' own page.
You're a piece of shit.

But yes, economics is a science. Increase prices and you get less commerce in that thing. Increase wage prices and you get fewer people working.

I do understand the argument and agreed with it!!(see my first post). However, I disagree with using a publication with Highly questionable integrity!

I asked 2aguy to use a more creditable source(he actually quotes it, but put so much emphasis on the American Thinker that I even thought that was the lone source. Turns out it is copied filler by a do-no-good rag)

To help this thread out, I brought the real creditable source of the story:

Bernie Sanders Insists 15 Minimum Wage Will Cost Jobs - Forbes

This is what should be cited. Not the American Thinker because it is not their piece.
Not Bernie Sanders website because that is what is being analyzed by Tim Worstall.

There you go Rabbi. Now is there a problem?

P.S. The American Thinker did not copy the story just because it is a good argument. The American Thinker suffers from integrity issues and uses tricks like copying creditable stories in its attempts to seem creditable. It is not, and if you are a reader of American Thinker, try to find if their is a creditable source to the story. At least half the time they are trying to feed you with nutter nonsense.