Expectations of Minimum Wage

Discussion in 'Economy' started by DustyInfinity, Feb 19, 2019.

  1. Supposn
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    Supposn VIP Member

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    I suppose for the benefit of their economy and society, every industrial nation has some laws or regulations that perform functions similar to USA's federal minimum wage rate. Eliminating the federal minimum wage rate would be devastating.
    The federal minimum rate is not among the primary drivers of the U.S. dollars inflation. The dollar loses purchasing power even when the minimum rate's not increased.

    I'm a proponent of annually increasing the federal minimum's rate by 12.5% until it achieves 125% of its February 1968 Consumer Price Index's value. Thereafter it should be annually monitored and adjusted as to retain that purchasing power.

    Respectfully, Supposn
     
  2. Toddsterpatriot
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    Toddsterpatriot Diamond Member

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    Eliminating the federal minimum wage rate would be devastating.

    You're wrong.

    The federal minimum rate is not among the primary drivers of the U.S. dollars inflation.

    Because it's not a noticeable driver of US incomes.

    I'm a proponent of annually increasing the federal minimum's rate by 12.5% until it achieves 125% of its February 1968 Consumer Price Index's value.


    Terrible idea.
     
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  3. danielpalos
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    ...higher paid labor pays more in taxes and creates more in demand.
     
  4. Slyhunter
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    Minimum wage should be set by the states not the Fed.
     
  5. dblack
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    dblack Gold Member

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    Minimum wage should be set by the employee.
     
  6. danielpalos
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    social services cost around fourteen dollars an hour and is the market based reason for a fifteen dollar an hour minimum wage.
     
  7. Supposn
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    Supposn VIP Member

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    ToddsterPatriot, regardless of your opinion, I suppose for the benefit of their economy and society, every industrial nation has some laws or regulations that perform functions similar to USA's federal minimum wage rate.

    Its purchasing power to some extent does bolster all wage scales. It greatest benefit is to lower-wage rate earners because its benefits are inversely and proportionally related to the differences between the minimum and the jobs' wage rates.

    Respectfully, Supposn
     
  8. Toddsterpatriot
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    Toddsterpatriot Diamond Member

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    every industrial nation has some laws or regulations

    Yes, lots of nations have lots of stupid laws and stupid regulations.

    Its purchasing power to some extent does bolster all wage scales.

    The wage earned by the bottom 2% of workers can't be said to bolster all wage scales.
     
  9. dblack
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    dblack Gold Member

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    I think 'bolster' means 'inflate'.
     
  10. Toddsterpatriot
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    Toddsterpatriot Diamond Member

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    I don't see how $7.25/hour inflates everyone else's wages.
     

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