Minimum Wage would be $21.72/hr if it kept up with productivity: CEPR 2012 Study

[Skull Pilot]

Vote: Should Seattle raise the minimum wage?

SEATTLE TIMES

January 17, 2014 at 10:46 AM

Vote: Should Seattle raise the minimum wage?

Posted by Jon Talton


One of the most important issues facing the city this year will be the push to raise the minimum wage to $15 per hour. If the minimum wage had kept pace with productivity, it would have been $21.72 an hour in 2012, according to the Center for Economic and Policy Research.

Instead, the federal minimum wage is $7.25 and $9.32 in Washington, the highest in the nation. The purchasing power of the minimum wage peaked in the 1960s and has been falling ever since.

While a relatively small cohort works for the actual minimum, a raise to $15 would sweep far more people upward.

For advocates, it’s a matter of social justice at a time of historic inequality as well as good economics — workers with more disposable income will create more demand for goods and services. Much research has found that at least modest increases in the minimum have no discernible effect on employment (for an example, see here).

Opponents say raising the minimum wage will kill jobs and wound small companies. Workers with the least skills would not be hirable at higher costs and so the people the measure most claims to help would actually be hurt. Also, franchise owners, often operating on very thin margins, would face the weight of a higher wage, not the highly profitable fast-food corporations.

What do you think?

Does that number take into account the productivity increases due solely to technology and not the skill of laborers?

 

[Rshermr]

The minimum wage is always zero. No minimum wage is ever set at zero. If there is no minimum wage, no one works for zero. So, your comment is untrue. When every work is done elsewhere by some other country's citizen, then who will support consumerism?
Not sure what you are getting at. Your comment makes no sense. Your save as you spend free credit card? It would be interesting what will happen to the country when the average worker can't afford food, roof, or even a ten minute whore, after the wage of a day's work. Jesus, that was stupid.

Okay, in other words, a free falling wage needs not stop at the affordability of rooms and food. So the minimum wage as an idea is basically a price control policy. Businesses do price control policies internationally. Governments do it nationally.

Except min wage is a floor, not a ceiling. See the difference. Price controls are ceilings, not floors,

 

[Wyatt earp]

The minimum wage is always zero. No minimum wage is ever set at zero. If there is no minimum wage, no one works for zero. So, your comment is untrue. When every work is done elsewhere by some other country's citizen, then who will support consumerism?
Not sure what you are getting at. Your comment makes no sense. Your save as you spend free credit card? It would be interesting what will happen to the country when the average worker can't afford food, roof, or even a ten minute whore, after the wage of a day's work. Jesus, that was stupid.

Okay, in other words, a free falling wage needs not stop at the affordability of rooms and food. So the minimum wage as an idea is basically a price control policy. Businesses do price control policies internationally. Governments do it nationally.

Except min wage is a floor, not a ceiling. See the difference. Price controls are ceilings, not floors,

Thank you for acknowledging that fact.

So right now around 3 million workers make minimum wage and almost 50 percent of workers make $15 dollars or less say around 70 million workers plus or minus a few million

Do you honestly think raising minimum wage is a good thing now that 73 million workers make minimum wage?
Almost Half of All American Workers Make Less Than $15 an Hour

If you say the $15 dollar an hour worker will get a raise, ok maybe they will but will it be a $7 dollar an hour wage to $21 bucks an hour to keep the same standard of living?

I think not

 

[Markle]

Vote: Should Seattle raise the minimum wage?

SEATTLE TIMES

January 17, 2014 at 10:46 AM

Vote: Should Seattle raise the minimum wage?

Posted by Jon Talton


One of the most important issues facing the city this year will be the push to raise the minimum wage to $15 per hour. If the minimum wage had kept pace with productivity, it would have been $21.72 an hour in 2012, according to the Center for Economic and Policy Research.

Instead, the federal minimum wage is $7.25 and $9.32 in Washington, the highest in the nation. The purchasing power of the minimum wage peaked in the 1960s and has been falling ever since.

While a relatively small cohort works for the actual minimum, a raise to $15 would sweep far more people upward.

For advocates, it’s a matter of social justice at a time of historic inequality as well as good economics — workers with more disposable income will create more demand for goods and services. Much research has found that at least modest increases in the minimum have no discernible effect on employment (for an example, see here).

Opponents say raising the minimum wage will kill jobs and wound small companies. Workers with the least skills would not be hirable at higher costs and so the people the measure most claims to help would actually be hurt. Also, franchise owners, often operating on very thin margins, would face the weight of a higher wage, not the highly profitable fast-food corporations.

What do you think?

One of the dumbest screeds I've seen in some time.

Please show me where the introduction of robots, mechanical devices, and computers have been taken into consideration.

 

[Markle]

?

When did people begin to believe that wages were based upon productivity?

Quite true. Some people believe that they are due to be paid more, simply because they have done the same thing for the past two years.

All my life I've believed I should be paid what I believe I'm worth and based on my production. I decided that when I was 16 and took my first "real" job as a bagboy in a nice grocery store. My salary was $0.85 per hour, minimum wage...plus tips. The harder I worked, the better I worked, the longer I worked, the more, much more money I made.

For more than the past 40 years, I have been a Realtor. Due to that, and a number of related fields, I've always determined what is my income. Few people are willing to take that risk.

 

[Markle]

CEO pay has kept pace......and then some

For that, you should send your thank you letter to former President Bill Clinton.

 

[Markle]

The last thing America needs is a well paid workforce.

 

[Markle]

Here it is:

Vote: Should Seattle raise the minimum wage? | Jon Talton | Seattle Times

Carol Bartz got 9 million severance for 30 months poor performance at Yahoo. This is not uncommon and one reason why corporate run health care is so expensive.

You're fired -- here's $9 million - 1 - CEO severance - MSN Money

The minimum wage is always zero. No minimum wage is ever set at zero. If there is no minimum wage, no one works for zero. So, your comment is untrue. When every work is done elsewhere by some other country's citizen, then who will support consumerism?
Not sure what you are getting at. Your comment makes no sense. Your save as you spend free credit card? It would be interesting what will happen to the country when the average worker can't afford food, roof, or even a ten minute whore, after the wage of a day's work. Jesus, that was stupid.

Okay, in other words, a free falling wage needs not stop at the affordability of rooms and food. So the minimum wage as an idea is basically a price control policy. Businesses do price control policies internationally. Governments do it nationally.

Except min wage is a floor, not a ceiling. See the difference. Price controls are ceilings, not floors,

Thank you for acknowledging that fact.

So right now around 3 million workers make minimum wage and almost 50 percent of workers make $15 dollars or less say around 70 million workers plus or minus a few million

Do you honestly think raising minimum wage is a good thing now that 73 million workers make minimum wage?
Almost Half of All American Workers Make Less Than $15 an Hour

If you say the $15 dollar an hour worker will get a raise, ok maybe they will but will it be a $7 dollar an hour wage to $21 bucks an hour to keep the same standard of living?

I think not

Flat out lie. 73 million workers do NOT make minimum wage.

Also, if the Federal minimum wage goes from $7.50 per hour to an obscene $15.00 per hour, the worker making $15.00 per hour today will need their salary to increase to $30.00 per hour to maintain the same gap as they had in the past.

 

[flacaltenn]

Vote: Should Seattle raise the minimum wage?

SEATTLE TIMES

January 17, 2014 at 10:46 AM

Vote: Should Seattle raise the minimum wage?

Posted by Jon Talton


One of the most important issues facing the city this year will be the push to raise the minimum wage to $15 per hour. If the minimum wage had kept pace with productivity, it would have been $21.72 an hour in 2012, according to the Center for Economic and Policy Research.

Instead, the federal minimum wage is $7.25 and $9.32 in Washington, the highest in the nation. The purchasing power of the minimum wage peaked in the 1960s and has been falling ever since.

While a relatively small cohort works for the actual minimum, a raise to $15 would sweep far more people upward.

For advocates, it’s a matter of social justice at a time of historic inequality as well as good economics — workers with more disposable income will create more demand for goods and services. Much research has found that at least modest increases in the minimum have no discernible effect on employment (for an example, see here).

Opponents say raising the minimum wage will kill jobs and wound small companies. Workers with the least skills would not be hirable at higher costs and so the people the measure most claims to help would actually be hurt. Also, franchise owners, often operating on very thin margins, would face the weight of a higher wage, not the highly profitable fast-food corporations.

What do you think?

The entire premise of justifying a $25/hr ENTRY wage on "productivity increases" just is a BRILLIANT example of how these leftists are clueless about how stuff works.

ENTRY level jobs have not EXPERIENCED much "productivity increase" since about 1872.. A broom is still a broom, a sponge is still a sponge and loading and unloading freight is not even MULTIPLES of a productivity increase in decades.

95% of "productifvity increase" apply to SKILLED labor,. Folks who can use Automated tools, research workers, and even advanced manufacturing techniques.

Productivity Increases have virtually NO bearing on Min wage jobs... Gotta just shake my head.

 

[ScienceRocks]

What we need to do is make sure the asshole at the top can't take it all and pass the increase in pay that the workers get from the increased minimum wage onto the consumer.

We have to redesign such laws to make sure the workers get the benefit and they the board(ceo, upper management)can't keep taking as much, just to turn around and fuck the consumers. The republicans on this thread do have a point about this.

 

[Markle]

What we need to do is make sure the asshole at the top can't take it all and pass the increase in pay that the workers get from the increased minimum wage onto the consumer.

We have to redesign such laws to make sure the workers get the benefit and they the board(ceo, upper management)can't keep taking as much, just to turn around and fuck the consumers. The republicans on this thread do have a point about this.

You can find what you're looking for in North Korea, Cuba, and Venezuela.

In a way, I do feel sorry for you. It is obvious that you have never achieved much in life and eagerly chug down the Cool Aid fed to you by Progressives. You desperately need to blame someone else for your failure and they make it ease for you to sit back, freeload and blame others. Either that or you're just playing the fool.

 

[Rshermr]

What we need to do is make sure the asshole at the top can't take it all and pass the increase in pay that the workers get from the increased minimum wage onto the consumer.

We have to redesign such laws to make sure the workers get the benefit and they the board(ceo, upper management)can't keep taking as much, just to turn around and fuck the consumers. The republicans on this thread do have a point about this.

You can find what you're looking for in North Korea, Cuba, and Venezuela.

In a way, I do feel sorry for you. It is obvious that you have never achieved much in life and eagerly chug down the Cool Aid fed to you by Progressives. You desperately need to blame someone else for your failure and they make it ease for you to sit back, freeload and blame others. Either that or you're just
playing the fool.

It is ok, Markle. Everyone knows that as a con troll you simply post con talking points, lie, and post unsubstantiated personal attacks. As a con troll, that is all you are capable of. No one tries to imitate you, which would indeed be playing the fool.

 

[anotherlife]

The minimum wage is always zero. No minimum wage is ever set at zero. If there is no minimum wage, no one works for zero. So, your comment is untrue. When every work is done elsewhere by some other country's citizen, then who will support consumerism?
Not sure what you are getting at. Your comment makes no sense. Your save as you spend free credit card? It would be interesting what will happen to the country when the average worker can't afford food, roof, or even a ten minute whore, after the wage of a day's work. Jesus, that was stupid.

Okay, in other words, a free falling wage needs not stop at the affordability of rooms and food. So the minimum wage as an idea is basically a price control policy. Businesses do price control policies internationally. Governments do it nationally.

Except min wage is a floor, not a ceiling. See the difference. Price controls are ceilings, not floors,

I thought that when corporations cartel up to fix prices, they are interested in the floor rather than the ceiling. For example in the UK, the price fixing history of the U.K. car dealers maintained a nationwide car price floor constantly ~ 40 % above the European car dealer price levels, for about 20 years. So price fixing goes both ways, I think.

Minimum wage is similar. The human commodity comes together to manipulate its own statistics for lower variance, hence higher unit price, i.e. wage.