The Racial Implications of the $15 Minimum Wage

[Shelzin]

I agree. It also has the authority to destroy the union by making really stupid decisions. Lets not do that shall we?

There is no authority to provide for the general badfare.

Excellent come back.

 

[danielpalos]

Creating demand and tax revenue does not devalue the dollar.

Raising the minimum wage does.

Edit: Oh shit... You are from California... What's the minimum wage in the "fly over states?" Do you know how they make a living on that?

Edit2: I'm actually on vacation, but I'm going to go back to work for a couple hours... I'm not ignoring you. If you want to have this conversation I'm happy to have it. I'm just busy at the moment.

How does raising the minimum wage devalue the dollar?

Raising the minimum wage means higher paid labor creating more demand and generating more tax revenue via the multiplier effect. We get the biggest, bang for our buck with the Poor.

 

[Shelzin]

How does raising the minimum wage devalue the dollar?

Because the price of goods go up when you increase the minimum wage. You think the employer is going to take the hit? Hell no... They just raise the price of the goods, to compensate for the increase in operating expense.

Raising the minimum wage means higher paid labor creating more demand and generating more tax revenue via the multiplier effect. We get the biggest, bang for our buck with the Poor.

Where do people who make minimum wage go to buy goods? Other places where they pay minimum wage... Why? Because that's what they can afford. So... You increase the wage, which increases the goods to compensate for the fact you just increased the wage...

What's the point? Now... Look up purchasing power of money to figure out why that matters. I started you out.

 

[danielpalos]

How does raising the minimum wage devalue the dollar?

Because the price of goods go up when you increase the minimum wage. You think the employer is going to take the hit? Hell no... They just raise the price of the goods, to compensate for the increase in operating expense.

Raising the minimum wage means higher paid labor creating more demand and generating more tax revenue via the multiplier effect. We get the biggest, bang for our buck with the Poor.

Where do people who make minimum wage go to buy goods? Other places where they pay minimum wage... Why? Because that's what they can afford. So... You increase the wage, which increases the goods to compensate for the fact you just increased the wage...

What's the point? Now... Look up purchasing power of money to figure out why that matters. I started you out.

Thanks for your opinion. I agree to disagree. Wages merely need to outpace inflation on an Institutional basis.

Right wingers have no institutional means to accomplish it. Capitalism, what is That sayeth the Right Wing outside of socialism threads.

 

[22lcidw]

How does raising the minimum wage devalue the dollar?

Because the price of goods go up when you increase the minimum wage. You think the employer is going to take the hit? Hell no... They just raise the price of the goods, to compensate for the increase in operating expense.

Raising the minimum wage means higher paid labor creating more demand and generating more tax revenue via the multiplier effect. We get the biggest, bang for our buck with the Poor.

Where do people who make minimum wage go to buy goods? Other places where they pay minimum wage... Why? Because that's what they can afford. So... You increase the wage, which increases the goods to compensate for the fact you just increased the wage...

What's the point? Now... Look up purchasing power of money to figure out why that matters. I started you out.

Thanks for your opinion. I agree to disagree. Wages merely need to outpace inflation on an Institutional basis.

Right wingers have no institutional means to accomplish it. Capitalism, what is That sayeth the Right Wing outside of socialism threads.

You are promoting that we can get rid of poverty. We can't.

 

[Shelzin]

Thanks for your opinion. I agree to disagree. Wages merely need to outpace inflation on an Institutional basis.

Right wingers have no institutional means to accomplish it. Capitalism, what is That sayeth the Right Wing outside of socialism threads.

I'll happily agree to disagree... But... What I just said is not an opinion. Well met.

 

[danielpalos]

Thanks for your opinion. I agree to disagree. Wages merely need to outpace inflation on an Institutional basis.

Right wingers have no institutional means to accomplish it. Capitalism, what is That sayeth the Right Wing outside of socialism threads.

I'll happily agree to disagree... But... What I just said is not an opinion. Well met.

An Institutional upward pressure on wages is still an option. Wages should outpace inflation in our first world economy.

 

[danielpalos]

How does raising the minimum wage devalue the dollar?

Because the price of goods go up when you increase the minimum wage. You think the employer is going to take the hit? Hell no... They just raise the price of the goods, to compensate for the increase in operating expense.

Raising the minimum wage means higher paid labor creating more demand and generating more tax revenue via the multiplier effect. We get the biggest, bang for our buck with the Poor.

Where do people who make minimum wage go to buy goods? Other places where they pay minimum wage... Why? Because that's what they can afford. So... You increase the wage, which increases the goods to compensate for the fact you just increased the wage...

What's the point? Now... Look up purchasing power of money to figure out why that matters. I started you out.

Thanks for your opinion. I agree to disagree. Wages merely need to outpace inflation on an Institutional basis.

Right wingers have no institutional means to accomplish it. Capitalism, what is That sayeth the Right Wing outside of socialism threads.

You are promoting that we can get rid of poverty. We can't.

Yes, we can. Automatic stabilization is not, pandering for votes. Only the right wing, never gets it.

 

[22lcidw]

How does raising the minimum wage devalue the dollar?

Because the price of goods go up when you increase the minimum wage. You think the employer is going to take the hit? Hell no... They just raise the price of the goods, to compensate for the increase in operating expense.

Raising the minimum wage means higher paid labor creating more demand and generating more tax revenue via the multiplier effect. We get the biggest, bang for our buck with the Poor.

Where do people who make minimum wage go to buy goods? Other places where they pay minimum wage... Why? Because that's what they can afford. So... You increase the wage, which increases the goods to compensate for the fact you just increased the wage...

What's the point? Now... Look up purchasing power of money to figure out why that matters. I started you out.

Thanks for your opinion. I agree to disagree. Wages merely need to outpace inflation on an Institutional basis.

Right wingers have no institutional means to accomplish it. Capitalism, what is That sayeth the Right Wing outside of socialism threads.

You are promoting that we can get rid of poverty. We can't.

Yes, we can. Automatic stabilization is not, pandering for votes. Only the right wing, never gets it.

Poverty will always be with us because we have different types of people in thoughts and ways they do or do not do things. Some people have been denied though from not having opportunities. If a person is not wanting to do anything, what are you going to do to make him/her do it?

 

[Shelzin]

Thanks for your opinion. I agree to disagree. Wages merely need to outpace inflation on an Institutional basis.

Right wingers have no institutional means to accomplish it. Capitalism, what is That sayeth the Right Wing outside of socialism threads.

I'll happily agree to disagree... But... What I just said is not an opinion. Well met.

An Institutional upward pressure on wages is still an option. Wages should outpace inflation in our first world economy.

Like it did in Mexico or Japan? Or a host of other countries that tried to do it and ended up thousands of peso's to the dollar?

 

[danielpalos]

How does raising the minimum wage devalue the dollar?

Because the price of goods go up when you increase the minimum wage. You think the employer is going to take the hit? Hell no... They just raise the price of the goods, to compensate for the increase in operating expense.

Raising the minimum wage means higher paid labor creating more demand and generating more tax revenue via the multiplier effect. We get the biggest, bang for our buck with the Poor.

Where do people who make minimum wage go to buy goods? Other places where they pay minimum wage... Why? Because that's what they can afford. So... You increase the wage, which increases the goods to compensate for the fact you just increased the wage...

What's the point? Now... Look up purchasing power of money to figure out why that matters. I started you out.

Thanks for your opinion. I agree to disagree. Wages merely need to outpace inflation on an Institutional basis.

Right wingers have no institutional means to accomplish it. Capitalism, what is That sayeth the Right Wing outside of socialism threads.

You are promoting that we can get rid of poverty. We can't.

Yes, we can. Automatic stabilization is not, pandering for votes. Only the right wing, never gets it.

Poverty will always be with us because we have different types of people in thoughts and ways they do or do not do things. Some people have been denied though from not having opportunities. If a person is not wanting to do anything, what are you going to do to make him/her do it?

I agree to disagree. Poor and poverty are two different things. We can't solve the first only the second via the socialism of Government via equal protection of the laws.

 

[danielpalos]

Thanks for your opinion. I agree to disagree. Wages merely need to outpace inflation on an Institutional basis.

Right wingers have no institutional means to accomplish it. Capitalism, what is That sayeth the Right Wing outside of socialism threads.

I'll happily agree to disagree... But... What I just said is not an opinion. Well met.

An Institutional upward pressure on wages is still an option. Wages should outpace inflation in our first world economy.

Like it did in Mexico or Japan? Or a host of other countries that tried to do it and ended up thousands of peso's to the dollar?

Should I take your word for it? Remember, equality is about you having to take my word for it as well.

I am referring to solving for capitalism's natural rate of unemployment via market friendly means.

 

[Shelzin]

Should I take your word for it? Remember, equality is about you having to take my word for it as well.

Absolutely not. You should do your own research. I have ZERO problems with you actually doing research on this. PLEASE DO.

I am referring to solving for capitalism's natural rate of unemployment via market friendly means.

I'm suggesting your cure is worse than the problem.

Edit: Before Covid hit he had pretty much the best economy than any other point in my lifetime. Lowest unemployment rate as well. Research that as well.

 

[danielpalos]

Should I take your word for it? Remember, equality is about you having to take my word for it as well.

Absolutely not. You should do your own research. I have ZERO problems with you actually doing research on this. PLEASE DO.

I am referring to solving for capitalism's natural rate of unemployment via market friendly means.

I'm suggesting your cure is worse than the problem.

Edit: Before Covid hit he had pretty much the best economy than any other point in my lifetime. Lowest unemployment rate as well. Research that as well.

You may not understand the simplicity of the cure. It can be accomplished on an at-will basis in our at-will employment States; how much more automatic can economic stabilization be?

 

[Viktor]

This is a tangent to another thread, but I think it deserves its own discussion.

When the lowest legal wage goes up by, say, 107% - from $7.25 to $15.00 - there are huge ramifications at the bottom end of the earnings totem pole. The higher the local wages are (e.g., NYC, Chicago, Boston), the less impact the increase will have, but this thread is not about the purely economic arguments for and against a "high" minimum wage, it is about the racial component.

Consider, if you will, the employment demographics at companies like Starbucks, Costco, and Whole Foods. These are companies that voluntarily pay a relatively good wage to everyone. They generally don't hire high school and college kids looking for part time work. They don't hire high school dropouts, or ex-cons. They don't hire people with learning disabilities. Because at their "high" wage levels, they can hire "better" people, no problem. They do hire some Black people, but not in proportion to their percentage of the local population.

Consider, what does a "high" minimum wage mean to a demographic that has the highest percentage of HS dropouts? The demographic that has the highest percentage of people who are "graduates" of (or still in) the criminal justice system? The demographic that has the highest percentage of people with learning disabilities? Not to mention, a demographic that generally NEEDS those part time jobs for students?

It will be devastating to that demographic.

I personally believe that EVEN DEMOCRATS realize that a national $15/hr minimum wage would be an economic disaster, and they understand how it will disproportionately affect POC's, so they will increase the MW but it will probably be very watered down. The $15 number won't go into effect for many years, and it may have regional variations for low and high-cost-of-living areas.

For those who pine for the $15/hr minimum wage, thinking that it will make a dramatic change in their quality of life, I submit that this the classic case of, "Be careful what you ask for; you just might get it."

Bernie Sanders makes up numbers> He just makes wild promises to get reelected. Few or them are ever kept.