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

[Eloy]

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.

The government can set the legal amount for a living wage.

The government can set the legal amount for a living wage.

Yes, the government can do lots of stupid things. Doesn't mean they should though.

Governments who do not look after the rights and aspirations of the working people can be given the boot when the electorate are informed and when they have a broad choice for whom to vote.

 

[Spare_change]

i gotta love all this ...

The goal of an employer is to pay you $1 for a million dollars worth of work.
The goal of an employee is to get a million dollars for $1 worth of work

They are both going to be disappointed.

IF I am supposed to ensure that I pay you a living wage, you have to be worth a living wage. If you want a living wage, make yourself worth it.

Our country is built on self improvement and self determination. YOU determine your value, I don't.

 

[Eloy]

i gotta love all this ...

The goal of an employer is to pay you $1 for a million dollars worth of work.
The goal of an employee is to get a million dollars for $1 worth of work

They are both going to be disappointed.

IF I am supposed to ensure that I pay you a living wage, you have to be worth a living wage. If you want a living wage, make yourself worth it.

Our country is built on self improvement and self determination. YOU determine your value, I don't.

Your understanding of economics is void of ethics.

 

[Spare_change]

i gotta love all this ...

The goal of an employer is to pay you $1 for a million dollars worth of work.
The goal of an employee is to get a million dollars for $1 worth of work

They are both going to be disappointed.

IF I am supposed to ensure that I pay you a living wage, you have to be worth a living wage. If you want a living wage, make yourself worth it.

Our country is built on self improvement and self determination. YOU determine your value, I don't.

Your understanding of economics is void of ethics.

Is this where I get the "... thy brother's keeper ... " speech?

i have a responsibility to my stockholders. Economics has no ethics.

 

[dblack]

Minimum wage is a kind of gentrification - a move to push out the poor, or at least consign them to state dependency.

Why is that, with a fifteen dollar an hour minimum wage? Doesn't that mean, the working poor will have more money to spend, to create more demand, in the long run?

Right. So it won't matter if prices are higher because people will have more money to spend? Do you not see the tail-chasing there?

 

[dblack]

i gotta love all this ...

The goal of an employer is to pay you $1 for a million dollars worth of work.
The goal of an employee is to get a million dollars for $1 worth of work

They are both going to be disappointed.

IF I am supposed to ensure that I pay you a living wage, you have to be worth a living wage. If you want a living wage, make yourself worth it.

Our country is built on self improvement and self determination. YOU determine your value, I don't.

Your understanding of economics is void of ethics.

And yours void of understanding.

The thing is, we need both to make things better.

 

[Eloy]

i gotta love all this ...

The goal of an employer is to pay you $1 for a million dollars worth of work.
The goal of an employee is to get a million dollars for $1 worth of work

They are both going to be disappointed.

IF I am supposed to ensure that I pay you a living wage, you have to be worth a living wage. If you want a living wage, make yourself worth it.

Our country is built on self improvement and self determination. YOU determine your value, I don't.

Your understanding of economics is void of ethics.

Is this where I get the "... thy brother's keeper ... " speech?

i have a responsibility to my stockholders. Economics has no ethics.

Perhaps in America there is no place for ethics among the business class. You might be right there.

 

[EdwardBaiamonte]

Why is that, with a fifteen dollar an hour minimum wage? Doesn't that mean, the working poor will have more money to spend, to create more demand, in the long run?

McDonalds is already switching to Kiosks, robots(Pepper) and Ipads so higher wages will mean fewer jobs and less income for poor people and less demand in economy. Econ 101

 

[EdwardBaiamonte]

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

same if any price is raised. People cant afford to buy as much.

except people who are making fifteen dollars an hour, minimum.

they make $15 and those who lose their jobs because they are not worth $15 are poorer so no net benefit is possible for stupid Lib marxist intervention. IF you want higher wages you must encourage new inventions. Do you understand?

 

[EdwardBaiamonte]

a work or die ethic is unnecessary in modern, corporate welfare times.

its unnecessary only if you don't mind paying for a guy to loaf around while you work to support him!

 

[Spare_change]

i gotta love all this ...

The goal of an employer is to pay you $1 for a million dollars worth of work.
The goal of an employee is to get a million dollars for $1 worth of work

They are both going to be disappointed.

IF I am supposed to ensure that I pay you a living wage, you have to be worth a living wage. If you want a living wage, make yourself worth it.

Our country is built on self improvement and self determination. YOU determine your value, I don't.

Your understanding of economics is void of ethics.

Is this where I get the "... thy brother's keeper ... " speech?

i have a responsibility to my stockholders. Economics has no ethics.

Perhaps in America there is no place for ethics among the business class. You might be right there.

You think there is 'somewhere' that there is???

You are so seriously deluded.

 

[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?

Wages are kept low by employers who see wages as a factor of production that is a cost against their profits.
American workers deserve more than slave wages whereas corporations like ExxonMobil, for example, by paying living wages put more buying power into the families of working people who can then buy from the small businesses you ask about. (Economics 101)

Wages are kept low by employers

Why do you feel they have the power to do that?
Is there an Employers Union I haven't heard about?

who see wages as a factor of production that is a cost against their profits.

Only because IT IS A COST AGAINST THEIR PROFITS.
What do you see wages as, if not that?

You never answered my question:
Do you feel that a small business with $10,000 in extra wage expenses and $10,000 in extra sales sees a net benefit?

I did answer your question by suggesting that small businesses will benefit when working class people have more money to spend.
Employers do control wages and in a country where people fear for their jobs, wages will be low. Wages are more than a factor of production because they represent the living people can make. People before profit and when American workers are treated right, our own people will not have to be in sweatshops like those in Bangladesh, Vietnam, The Northern Marianas, and so on. American workers deserve better than that.

I did answer your question by suggesting that small businesses will benefit when working class people have more money to spend.

How do they benefit if they have $10,000 in extra wage expenses and $10,000 in extra sales?

Employers do control wages

How old were you when you failed ECON 101 the first time?

Wages are more than a factor of production

When that cost is too high, it's a factor of going out of business.

People before profit

Kill the greedy kulaks, eh comrade?

 

[Toddsterpatriot]

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.

The government can set the legal amount for a living wage.

The government can set the legal amount for a living wage.

Yes, the government can do lots of stupid things. Doesn't mean they should though.

Governments who do not look after the rights and aspirations of the working people can be given the boot when the electorate are informed and when they have a broad choice for whom to vote.

Governments who do not look after the rights and aspirations of the working people can be given the boot

And when the government does lots of stupid things, working people get hurt.

 

[Eloy]

i gotta love all this ...

The goal of an employer is to pay you $1 for a million dollars worth of work.
The goal of an employee is to get a million dollars for $1 worth of work

They are both going to be disappointed.

IF I am supposed to ensure that I pay you a living wage, you have to be worth a living wage. If you want a living wage, make yourself worth it.

Our country is built on self improvement and self determination. YOU determine your value, I don't.

Your understanding of economics is void of ethics.

Is this where I get the "... thy brother's keeper ... " speech?

i have a responsibility to my stockholders. Economics has no ethics.

Perhaps in America there is no place for ethics among the business class. You might be right there.

You think there is 'somewhere' that there is???

You are so seriously deluded.

Yes, where I live in the European Union, ethics and a sense of fairness underpins legislation for decent wages and working conditions.

 

[Skull Pilot]

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

There would be fewer working for slave wages if the minimum wage is higher.

There would be fewer working, period. The only question is how many fewer. Obviously, a higher MW kills jobs. Doubt it? Set it to $100/hr and ask what would happen. Now, you CAN have a MW that doesn't kill too many jobs all at once, but you have to keep it low enough that it really doesn't make much of a difference. We have already lost a lot of low end jobs to higher costs, but as long as the pace is gradual enough, not too many complain.

Politicians who care more about their working class families than corporation executive salaries and stockholders dividends will make a minimum wage a living wage by law.

No, they will not, and here is why.

1. They do hear from economists, and know that a MW raised that high that fast would kill the economy.
2. ANY MW that's supposed to be a "living wage" will end up simply chasing an ideal that can never be reached. First, jacking the MW increases inflation and within a short period of time erases any benefit. Secondly, those who got big raises and didn't lose their jobs and those who benefit politically from their votes will, in VERY short order, decide that whatever they set the MW to just isn't enough, and will insist on raising it yet again.
3. There is a significant number of people who would like to work and who would benefit from working, but don't need to be paid a lot to do so. Jacking the MW too high simply prices them out of the market, leaving them unemployed. You graduated from high school and want to start working? Great, just wait a few years until something opens up or enough experienced workers die to give you a spot.

Economists did not see the crash coming and cannot be trusted with predictions.

actually some did but they were laughed at by the government "experts"

 

[danielpalos]

There would be fewer working for slave wages if the minimum wage is higher.

There would be fewer working, period. The only question is how many fewer. Obviously, a higher MW kills jobs. Doubt it? Set it to $100/hr and ask what would happen. Now, you CAN have a MW that doesn't kill too many jobs all at once, but you have to keep it low enough that it really doesn't make much of a difference. We have already lost a lot of low end jobs to higher costs, but as long as the pace is gradual enough, not too many complain.

who cares, if those not employed can opt for unemployment compensation?

Anyone with two functioning brain cells cares, because we're making it harder for the unexperienced and unskilled to get jobs at all. There was a time when a teenager could get a job at a gas station pumping gas. Not any more. Soon they won't be able to get a job flipping burgers at a fast food restaurant. As we drive the MW higher, we lose the kinds of jobs these kids need to break into the job market.

reading comprehension not your strong suit?

who cares, if those not employed can opt for unemployment compensation?

they won't need to care about a job until they are ready for one. it really is that simple.

Apparently, you're not reading things very well. Everyone with two functioning brain cells cares very much that society not be saddled with the burden of supporting able bodied people perfectly capable of performing a useful job but who decide not to do so.

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

 

[danielpalos]

anyone can learn how to invest in the stock market, on unemployment.

And you think what you have left over after you pay for rent, food, utilities and other misc things from your welfare check will allow you to become a millionaire in the stock market?

Wow

the Only problem with EBT cards now, is they can't be used with financial planners. Only the right, never gets it.

Really why use a financial planner I thought you could learn to do it on your own?
And how much will be left a month on your welfare card to invest in the market?

$10?

depends; i could rent a room with someone and go to school.

And of course you want us to pay your tuition

you are already paying for a War on Poverty. Why not actually solve simple poverty.

 

[danielpalos]

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.

The government can set the legal amount for a living wage.

The government can set the legal amount for a living wage.

Yes, the government can do lots of stupid things. Doesn't mean they should though.

yet, we have a War on Drugs that the right, also prefers to pay for instead of higher wages.

 

[danielpalos]

You do realize that the rich don't pay into SS don't you?

It is funded on the backs of those making less than 106K a year

good for the rich; they appreciate your help getting richer, faster.

Hey I don't pay into SS because most of my income comes from business profits and rents

I'm on my payroll for 30K a year and I put most of that into retirement savings so I defer income taxes on it

It's not my fault you can't run your own business

it isn't for everyone. i prefer to grow plants and work at the speed of plants growing.

yeah slow and lazy

Which is why you want everyone else who isn't slow and lazy to support you

Dude, you're harshing his buzz.

why equate slow with lazy? the right wing is slow and lazy regarding reading comprehension.

and, you are going to pay for it one way or the other; is capitalism just too difficult for the right and they prefer the simplicity of socialism and Ten simple Commandments.

 

[danielpalos]

i gotta love all this ...

The goal of an employer is to pay you $1 for a million dollars worth of work.
The goal of an employee is to get a million dollars for $1 worth of work

They are both going to be disappointed.

IF I am supposed to ensure that I pay you a living wage, you have to be worth a living wage. If you want a living wage, make yourself worth it.

Our country is built on self improvement and self determination. YOU determine your value, I don't.

market based inputs determine value. we have Government which contributes to those inputs.