GOP candidates' remarks spur minimum wage debate

[The Rabbi]

How do they explain the folks getting more than minimum? Unions don't cover but a very small fraction of the non government workforce anymore.

Someone getting more than $8.50 in Oregon is just

not germaine to them.

bahblahBIG CORPORATIONSbahblahbullsbahEXPLOITWORKERSbahblakbarbarbar.

They ahve no explanation. BUt the fact that some people make more than others must mean someone is getting screwed.

 

[Norman]

Dunno how it is arranged in US, but I feel like the minimum wages are unnecessary if there is even a decent unemployment benefit. No one would take a job with sub emoloyment wage anyway if there wasn't some benefit in doing it soooo.....

And IMO unemployment benefit is better way to solve it than minimum wage, but I haven't thought too much about this....

 

[Norman]

The chinese are getting that because, after all is said and done, the work they do only is worth 51 cents to the buyer of the labor. There are huge costs between the chinese worker and the american consumer.

American workers are worth the wages they get because the person who hires them can get more than that for what they produce. Some workers are worth $4 per hour. They are now unemployed. Some are worth $6. They also are unemployed. Some are worth $8. Some are worth $150.

Prices are set where marginal cost = marginal revenue. American workers can get $12 when their labor produces $12.01.

After you factor in all the costs, it is sometimes cheaper to hire an american worker at $7 per hour than a chinese worker at 41 cents. If you deny the american worker the right to work for seven, then you are shipping the job overseas where some chinese girl would be delighted to get a chance to work for 39 cents. It is stupid US laws that are shipping jobs overseas, not evil corporations. The corporation would rather work with the US worker, but if the legal framework prevents that, then they will go overseas.

absolute bullshit.

I have been there done that. You can get shit manufactured in China and shipped here for 1/3 of what it costs here. So you can mark it up 200% and remain competitive with US manufacturing that is operating at a zero margin.

You said as much but you bent heaven and hell to minimize the real scoop.

Yeah, that is because the dollar is overvalued and yen is undervalued. That is also why the trade deficit exists. I really can't think of any other reasons why it is so.

If chinese worker produces as much as american, and the chinese company doesn't take the profits either(not sure about this BTW), then where does the stuff go?

To USA.

I do like to know if you got some other reasons for this....?