What would happen to the economy if minimum wages are raised?

[Toddsterpatriot]

how many jobs are there, with a natural rate of unemployment?

we have full employment at 4.3 % so no worries about that.

that is not, full employment. full employment means wages are outpacing inflation.

They are.

i am not your stock holder. why should i believe you? why do we have as much unemployment as we do, if scarcity of labor is a cause of inflation. we are no where near, full employment of resources in the market for labor. it is special pleading like that, that renders the right wing, literally incredible, about economics.

i am not your stock holder. why should i believe you?

You'd like evidence that real wages, that is wages adjusted for inflation, are rising?
Or is evidence not enough to outweigh your preferred anecdotes?

if scarcity of labor is a cause of inflation.

Scarcity of labor is a cause of rising wages.
Inflation is always and everywhere a monetary phenomenon....Milton Friedman - Wikiquote

 

[danielpalos]

Yes, it makes the same sense; to decrease turnover and increase productivity.

It does not make sense to pay low skilled workers $15/hour.
Their productivity is too low.

only the right has no use for Capitalism. it is about consolidating and re-tooling for greater efficiency, like Henry Ford.

only the right has no use for Capitalism.

Only the left totally misunderstands economics.

it is about consolidating and re-tooling for greater efficiency

After your mandatory $15 minimum wage, the surviving businesses will be much more efficient.....
after they learn how to exist without $15/hour unskilled labor.

Of course unemployment will be much, much higher.
At least the surviving business owners will make more money.

Henry Ford doubled autoworker wages as a form of competition. The right is claiming they can't do it, due to excessive corporate welfare and too many tax holidays.

Henry Ford doubled autoworker wages as a form of competition.

Voluntarily, because it made sense for his business model.
Raising it, across the board, by government fiat, does not make sense.

The right is claiming they can't do it,

It can be done.
It would be stupid.
Obama's 2 terms are proof that stupid things that should not be done sometimes are done.
Even when they make things worse.

the point is, That Capitalist, found that capital way. Why are modern capitalists, not capitalistic enough in modern times?

 

[Toddsterpatriot]

It's a matter of terminology. What you are advocating is quite simply welfare for when you are not working for whatever reason. That means that a large number of people will decide that they prefer collecting a paycheck but not working a job and society will bear that cost.

not at all; what I am advocating is improving the efficiency of our economy, in favor of the general welfare instead of a private profit motive.

Yeah, because profit is bad. DERP!

profit is good, but a good economy is better. Derp!

Less profit = better economy?

No profit (Venezuela) = awesome economy!!!
DERP!

it depends on the application; dragons and the one percent are not very good at circulating wealth in any given economy.

only the right wing never gets it; only capital has to work under Any form of Capitalism, not fools or horses.

it depends on the application;

The application of profit?

 

[danielpalos]

It does not make sense to pay low skilled workers $15/hour.
Their productivity is too low.

yes, a $15 minimum would make it illegal to hire anyone not worth $15. What a great way to create more unemployment and another liberal scam to correct unemployment.

so what; if Capitalists can Only make it on cheap labor instead of better products at lower cost; how Good can they be.

Exactly! Kill all the business owners who pay less than $20/hour, eh comrade?

We have the largest economy in the world and a first world economy. That costs; only the right wants it cheap.

We have the largest economy in the world and a first world economy.

Yup.

That costs; only the right wants it cheap.

You have to look at cost versus benefit. Libs never(can't) think that deeply.

what can the one percent really do with all of their wealth, anyway?

the ninety-nine percent don't mind getting their hands dirty and circulating wealth.

 

[Toddsterpatriot]

It does not make sense to pay low skilled workers $15/hour.
Their productivity is too low.

only the right has no use for Capitalism. it is about consolidating and re-tooling for greater efficiency, like Henry Ford.

only the right has no use for Capitalism.

Only the left totally misunderstands economics.

it is about consolidating and re-tooling for greater efficiency

After your mandatory $15 minimum wage, the surviving businesses will be much more efficient.....
after they learn how to exist without $15/hour unskilled labor.

Of course unemployment will be much, much higher.
At least the surviving business owners will make more money.

Henry Ford doubled autoworker wages as a form of competition. The right is claiming they can't do it, due to excessive corporate welfare and too many tax holidays.

Henry Ford doubled autoworker wages as a form of competition.

Voluntarily, because it made sense for his business model.
Raising it, across the board, by government fiat, does not make sense.

The right is claiming they can't do it,

It can be done.
It would be stupid.
Obama's 2 terms are proof that stupid things that should not be done sometimes are done.
Even when they make things worse.

the point is, That Capitalist, found that capital way. Why are modern capitalists, not capitalistic enough in modern times?

the point is, That Capitalist, found

The point is not, That Government, found

 

[danielpalos]

Since people on minimum wages, unable to save, spend it all. So, it would be good for business were the wages raised.

yes, it would. it will increase demand in the long run, since the poor will be spending at the new minimum wage level.

The poor that have jobs, that is. There would be fewer that actually have jobs at the higher wage.

still the same canard? i am also advocating for unemployment compensation simply for being unemployed on an at-will basis in our at-will employment States.

There is no reason to hold Labor "hostage" to Capitalism's, bottom line.

 

[Toddsterpatriot]

yes, a $15 minimum would make it illegal to hire anyone not worth $15. What a great way to create more unemployment and another liberal scam to correct unemployment.

so what; if Capitalists can Only make it on cheap labor instead of better products at lower cost; how Good can they be.

Exactly! Kill all the business owners who pay less than $20/hour, eh comrade?

We have the largest economy in the world and a first world economy. That costs; only the right wants it cheap.

We have the largest economy in the world and a first world economy.

Yup.

That costs; only the right wants it cheap.

You have to look at cost versus benefit. Libs never(can't) think that deeply.

what can the one percent really do with all of their wealth, anyway?

the ninety-nine percent don't mind getting their hands dirty and circulating wealth.

what can the one percent really do with all of their wealth, anyway?

What business is it of yours, anyway?

 

[danielpalos]

, companies cannot afford to pay workers more than their work is worth.

and lets never forget that a libcommie wants a higher minimum wage and 1001 other interventions in the economy too becuase he lacks the IQ to understand how capitalism works!!

Capitalism Only works because it is constantly bailed out by socialism.

Raising the minimum wage will have the effect of improving our Standard of living to that extent. Along with solving simple poverty on an at-will basis in our at-will employment States.

So why not just eliminate poverty altogether by raising the MW to $100/hr?

because you need to solve simple poverty somehow; regardless of any right Right to Work in any right to work States.

 

[Skull Pilot]

Sweety, the employer owns the job. it is his to give or take away.

so what; why so much litigation about for-cause and at-will, if it is so simple?

only the right wing, never gets it. and, they wonder why it costs so much to do business.

What litigation?
Not too many people who get laid off go to court

I've owned businesses have you? It seems to me you do not understand the costs involved in running a business not me

it is a major expense for the employment sector. for-cause and at-will would not be so litigious, with unemployment compensation simply for being unemployed on an at-will basis.

Sorry Bub but there is no such thing as a free lunch
Where do you think the money will come from to pay all those people like you who want to be unemployed at will?

improving the efficiency of any economy is not free; there is always some consolidation.

Answer the question

Where is the money going to come from to pay people like you who don't want to work unemployment welfare?

 

[danielpalos]

Since people on minimum wages, unable to save, spend it all. So, it would be good for business were the wages raised.

So, it would be good for business were the wages raised.

If it weren't for bad math, liberals would have no math at all.

Yes, it is simple economics that when wages are kept low, such as in the United States, the working class do not earn enough to pay much income tax, thus denying revenue for the government, and they have little or no discretionary spending power since the money goes on necessities which means that local businesses in working class areas do not have enough paying customers. (Political Economy 101)

it is simple economics that when wages are kept low

Kept low? Now what evil fellow has the power to do that?

which means that local businesses in working class areas do not have enough paying customers.

Do you feel that a small business with $10,000 in extra wage expenses and $10,000 in extra sales sees a net benefit?

the Boss.

 

[danielpalos]

so what; why so much litigation about for-cause and at-will, if it is so simple?

only the right wing, never gets it. and, they wonder why it costs so much to do business.

What litigation?
Not too many people who get laid off go to court

I've owned businesses have you? It seems to me you do not understand the costs involved in running a business not me

it is a major expense for the employment sector. for-cause and at-will would not be so litigious, with unemployment compensation simply for being unemployed on an at-will basis.

Sorry Bub but there is no such thing as a free lunch
Where do you think the money will come from to pay all those people like you who want to be unemployed at will?

improving the efficiency of any economy is not free; there is always some consolidation.

Answer the question

Where is the money going to come from to pay people like you who don't want to work unemployment welfare?

ending our drug war and improving the efficiency of our economy.

 

[Toddsterpatriot]

Since people on minimum wages, unable to save, spend it all. So, it would be good for business were the wages raised.

So, it would be good for business were the wages raised.

If it weren't for bad math, liberals would have no math at all.

Yes, it is simple economics that when wages are kept low, such as in the United States, the working class do not earn enough to pay much income tax, thus denying revenue for the government, and they have little or no discretionary spending power since the money goes on necessities which means that local businesses in working class areas do not have enough paying customers. (Political Economy 101)

it is simple economics that when wages are kept low

Kept low? Now what evil fellow has the power to do that?

which means that local businesses in working class areas do not have enough paying customers.

Do you feel that a small business with $10,000 in extra wage expenses and $10,000 in extra sales sees a net benefit?

the Boss.

The Boss has the power to keep national, hell, global wages, low?

 

[Skull Pilot]

What litigation?
Not too many people who get laid off go to court

I've owned businesses have you? It seems to me you do not understand the costs involved in running a business not me

it is a major expense for the employment sector. for-cause and at-will would not be so litigious, with unemployment compensation simply for being unemployed on an at-will basis.

Sorry Bub but there is no such thing as a free lunch
Where do you think the money will come from to pay all those people like you who want to be unemployed at will?

improving the efficiency of any economy is not free; there is always some consolidation.

Answer the question

Where is the money going to come from to pay people like you who don't want to work unemployment welfare?

ending our drug war and improving the efficiency of our economy.

And you think that will be enough to pay lazy shits not to work?

I don't think so

We end the war on drugs and give the money back to the taxpayers in the form of lower rates not to have taxpayers support your lazy ass

 

[danielpalos]

Since people on minimum wages, unable to save, spend it all. So, it would be good for business were the wages raised.

So, it would be good for business were the wages raised.

If it weren't for bad math, liberals would have no math at all.

Yes, it is simple economics that when wages are kept low, such as in the United States, the working class do not earn enough to pay much income tax, thus denying revenue for the government, and they have little or no discretionary spending power since the money goes on necessities which means that local businesses in working class areas do not have enough paying customers. (Political Economy 101)

it is simple economics that when wages are kept low

Kept low? Now what evil fellow has the power to do that?

which means that local businesses in working class areas do not have enough paying customers.

Do you feel that a small business with $10,000 in extra wage expenses and $10,000 in extra sales sees a net benefit?

the Boss.

The Boss has the power to keep national, hell, global wages, low?

Public policy does that, merely to have the poor work harder so the rich can get richer faster.

 

[danielpalos]

it is a major expense for the employment sector. for-cause and at-will would not be so litigious, with unemployment compensation simply for being unemployed on an at-will basis.

Sorry Bub but there is no such thing as a free lunch
Where do you think the money will come from to pay all those people like you who want to be unemployed at will?

improving the efficiency of any economy is not free; there is always some consolidation.

Answer the question

Where is the money going to come from to pay people like you who don't want to work unemployment welfare?

ending our drug war and improving the efficiency of our economy.

And you think that will be enough to pay lazy shits not to work?

I don't think so

We end the war on drugs and give the money back to the taxpayers in the form of lower rates not to have taxpayers support your lazy ass

sure; you merely don't understand economics. only capital has to work not fools or horses.

 

[Toddsterpatriot]

So, it would be good for business were the wages raised.

If it weren't for bad math, liberals would have no math at all.

Yes, it is simple economics that when wages are kept low, such as in the United States, the working class do not earn enough to pay much income tax, thus denying revenue for the government, and they have little or no discretionary spending power since the money goes on necessities which means that local businesses in working class areas do not have enough paying customers. (Political Economy 101)

it is simple economics that when wages are kept low

Kept low? Now what evil fellow has the power to do that?

which means that local businesses in working class areas do not have enough paying customers.

Do you feel that a small business with $10,000 in extra wage expenses and $10,000 in extra sales sees a net benefit?

the Boss.

The Boss has the power to keep national, hell, global wages, low?

Public policy does that, merely to have the poor work harder so the rich can get richer faster.

Public policy does that

Public policy keeps wages low? How? Why? Please explain further.

 

[Skull Pilot]

Sorry Bub but there is no such thing as a free lunch
Where do you think the money will come from to pay all those people like you who want to be unemployed at will?

improving the efficiency of any economy is not free; there is always some consolidation.

Answer the question

Where is the money going to come from to pay people like you who don't want to work unemployment welfare?

ending our drug war and improving the efficiency of our economy.

And you think that will be enough to pay lazy shits not to work?

I don't think so

We end the war on drugs and give the money back to the taxpayers in the form of lower rates not to have taxpayers support your lazy ass

sure; you merely don't understand economics. only capital has to work not fools or horses.

OK let me know when you make your first million collecting welfare

 

[sealybobo]

Workers push for minimum wage to be raised (ethical or unethical)?

What would happen if the government and employers cooperate to boost the minimum wage to say, a very high figure. What would happen to the economy in the short and long run

What if employers raised minimum wage but they did away with social security and Medicare? Would the people save it for retirement?

 

[Skull Pilot]

Workers push for minimum wage to be raised (ethical or unethical)?

What would happen if the government and employers cooperate to boost the minimum wage to say, a very high figure. What would happen to the economy in the short and long run

What if employers raised minimum wage but they did away with social security and Medicare? Would the people save it for retirement?

If we did away with SS and medicare everyone could get an instant 15% raise
If they don't save it for retirement that's there problem not mine

 

[danielpalos]

Yes, it is simple economics that when wages are kept low, such as in the United States, the working class do not earn enough to pay much income tax, thus denying revenue for the government, and they have little or no discretionary spending power since the money goes on necessities which means that local businesses in working class areas do not have enough paying customers. (Political Economy 101)

it is simple economics that when wages are kept low

Kept low? Now what evil fellow has the power to do that?

which means that local businesses in working class areas do not have enough paying customers.

Do you feel that a small business with $10,000 in extra wage expenses and $10,000 in extra sales sees a net benefit?

the Boss.

The Boss has the power to keep national, hell, global wages, low?

Public policy does that, merely to have the poor work harder so the rich can get richer faster.

Public policy does that

Public policy keeps wages low? How? Why? Please explain further.

Having a "work or die" ethic that merely tramples Individual Liberty and natural rights and equality; merely so the rich can get richer faster, is one egregious example. the right wing probably doesn't even recognize it simply Because, it is not about guns and gun equality.