Biden stimulus bill $15 minimum wage

[airplanemechanic]

Who would choose to eat a big Mac? Sludge that stuff is. A big reason for soaring healthcare costs.

I would. They're good, but the whopper is far better.

But that's some funny shit right there. Why don't you blame the fork while you're at it? I eat whoppers and tacos and shit all the time. I have zero health care cost related to what I eat. I've had a hernia and nasal surgery. I jog every day. I eat what I want to when I want to.

Fast food is one of the first places people get jobs to start their working careers. Why are you so against teens getting jobs? So few people work at minimum wage for any length of time its become an irrelevant number.

 

[Jake Winker Frogen]

About 42% of American workers earn less than 15 dollars an hour accounting for the astronomical working poverty rates in the USA.

American business has always had a very primitive, barbaric view of minimum wages. Most tend to use the ancient and outdated paradigm all productivity gains should be gleaned by making workers work longer for less but from a macro economic perspective such thinking is myopic and can even damage their own business long term.
Work forces that are underpaid, wages below certain levels have worse productivity due to lack of motivation incentives.
Also in what is largely a service economy underpaying a large chunk of the work force depresses consumer demand, the very customer base such businesses need to grow. When minimum wages barely cover the cost of existence consumer demand decreases.

Most empirical economic studies find that minimum wages set up to 59% of the median wage— do not increase unemployment writ large but such raises do witness increases in consumer demand at significant levels.

A 15 dollar minimum wage would be well below that 59% threshold and would dramatically increase consumer demand and help alleviate working poverty.

 

[BluesLegend]

Blithering idiot Joe Biden's jobs killing wage hike is "stimulus"???

 

[airplanemechanic]

About 42% of American workers earn less than 15 dollars an hour accounting for the astronomical working poverty rates in the USA.

American business has always had a very primitive, barbaric view of minimum wages. Most tend to use the ancient and outdated paradigm all productivity gains should be gleaned by making workers work longer for less but from a macro economic perspective such thinking is myopic and can even damage their own business long term.
Work forces that are underpaid, wages below certain levels have worse productivity due to lack of motivation incentives.
Also in what is largely a service economy underpaying a large chunk of the work force depresses consumer demand, the very customer base such businesses need to grow. When minimum wages barely cover the cost of existence consumer demand decreases.

Most empirical economic studies find that minimum wages set up to 59% of the median wage— do not increase unemployment writ large but such raises do witness increases in consumer demand at significant levels.

A 15 dollar minimum wage would be well below that 59% threshold and would dramatically increase consumer demand and help alleviate working poverty.

Your post assumes that employers who think a employees work is worth 7.25 an hour will suddenly pay them double.

No, they'll cut their hours or fire them.

Minimum wage hikes have never been more than 1 dollar an hour. This MORE THAN DOUBLES IT. Yes of course jobs will be lost, tons of them, in fact. And these are the people that need the money the most in some cases, as they are poorly educated and sometimes illegals, felons, etc. But you're happier giving them a "minimum wage" they'll never make because they're now in the unemployment line.

Nice job, now they went from 7.25 an hour to 0.00 an hour. A liberals dream, because NOW they have control over that persons vote.

 

[danielpalos]

I can't wait to pay for $5 buck snicker bars and $8 dollar big Macs

Biden sparks backlash among some progressives over $1,400 stimulus checks in coronavirus relief proposal

President-elect Joe Biden is already facing backlash over the $1.9 trillion coronavirus relief proposal designed to combat the economic downturn and deadly pandemic that he outlined on Thursday night.

www.foxbusiness.com

Good thing for the rest of us, nobody takes right wingers seriously about economics. Even the dollar menu won't double even if the minimum wage does. More purchasing power for Labor in our first world economy!

 

[Ray From Cleveland]

Fast food is one of the first places people get jobs to start their working careers. Why are you so against teens getting jobs? So few people work at minimum wage for any length of time its become an irrelevant number.

I've been working since the age of 10. My father was a bricklayer and didn't give us kids much in the way of money. My father worked night and day during the working (summer) months. Bricklayers can't work below freezing because of the cement. When he got home from his full-time job, he ate, laid down for a half-hour, and went on side jobs he picked up.

As a child I took a chance and asked my father for five dollars. He asked what made me think he had five dollars to give? I told him I know he's got money because he works. He said "Well if that's the way I make my five dollars, that's the way you're going to make yours, now hop in the van!"

My father paid me one dollar an hour to mix cement, carry bricks to where he was working, cleaning up after we were done, and I came home with sand and cement in my hair and on my clothes. While other kids played all night, I worked with my father.

When you start working at a young age, it teaches you the value of money and responsibility. That's why Democrats don't like the idea of kids working. They don't want children growing up with responsibility or learning the value of money. Independent kids don't grow up and vote Democrat.

 

[Ray From Cleveland]

About 42% of American workers earn less than 15 dollars an hour accounting for the astronomical working poverty rates in the USA.

American business has always had a very primitive, barbaric view of minimum wages. Most tend to use the ancient and outdated paradigm all productivity gains should be gleaned by making workers work longer for less but from a macro economic perspective such thinking is myopic and can even damage their own business long term.
Work forces that are underpaid, wages below certain levels have worse productivity due to lack of motivation incentives.
Also in what is largely a service economy underpaying a large chunk of the work force depresses consumer demand, the very customer base such businesses need to grow. When minimum wages barely cover the cost of existence consumer demand decreases.

Most empirical economic studies find that minimum wages set up to 59% of the median wage— do not increase unemployment writ large but such raises do witness increases in consumer demand at significant levels.

A 15 dollar minimum wage would be well below that 59% threshold and would dramatically increase consumer demand and help alleviate working poverty.

Except in real life it doesn't really work that way. You can't double the wage of only one group of workers. When you force increased wages on one group, every other group outside of minimum wage will want a lot more money to work as well.

It would take a couple of years, but after a while, the cost of living increases dramatically. The people who work for minimum wage as it's set now find themselves right back to where they started because everything costs so much more. Outside of government bringing in more in taxes, nobody really benefits and most people lose.

 

[Jake Winker Frogen]

About 42% of American workers earn less than 15 dollars an hour accounting for the astronomical working poverty rates in the USA.

American business has always had a very primitive, barbaric view of minimum wages. Most tend to use the ancient and outdated paradigm all productivity gains should be gleaned by making workers work longer for less but from a macro economic perspective such thinking is myopic and can even damage their own business long term.
Work forces that are underpaid, wages below certain levels have worse productivity due to lack of motivation incentives.
Also in what is largely a service economy underpaying a large chunk of the work force depresses consumer demand, the very customer base such businesses need to grow. When minimum wages barely cover the cost of existence consumer demand decreases.

Most empirical economic studies find that minimum wages set up to 59% of the median wage— do not increase unemployment writ large but such raises do witness increases in consumer demand at significant levels.

A 15 dollar minimum wage would be well below that 59% threshold and would dramatically increase consumer demand and help alleviate working poverty.

Except in real life it doesn't really work that way. You can't double the wage of only one group of workers. When you force increased wages on one group, every other group outside of minimum wage will want a lot more money to work as well.

It would take a couple of years, but after a while, the cost of living increases dramatically. The people who work for minimum wage as it's set now find themselves right back to where they started because everything costs so much more. Outside of government bringing in more in taxes, nobody really benefits and most people lose.

Except macro economics does work that way, the proof is in other economies who do just that.

For instance Australian minimum wage is about 15.29 USD.

Yet higher or medium wages have remained stagnant for well over a decade. (That includes factoring in the huge wage increases of mining which is a world unto it's own.)

Proving minimum wage increases do not fuel wage inflation in higher paid sectors if the economy is not already in an inflationary upswing.

The US is to the contrary in a deflationary down turn.

Most economic models suggest a minimum wage set at 50% of the medium income not only is not inflationary but adds dramatic consumer demand to the economy. 15 dollars an hour is below that 50% threshold.

 

[Jake Winker Frogen]

About 42% of American workers earn less than 15 dollars an hour accounting for the astronomical working poverty rates in the USA.

American business has always had a very primitive, barbaric view of minimum wages. Most tend to use the ancient and outdated paradigm all productivity gains should be gleaned by making workers work longer for less but from a macro economic perspective such thinking is myopic and can even damage their own business long term.
Work forces that are underpaid, wages below certain levels have worse productivity due to lack of motivation incentives.
Also in what is largely a service economy underpaying a large chunk of the work force depresses consumer demand, the very customer base such businesses need to grow. When minimum wages barely cover the cost of existence consumer demand decreases.

Most empirical economic studies find that minimum wages set up to 59% of the median wage— do not increase unemployment writ large but such raises do witness increases in consumer demand at significant levels.

A 15 dollar minimum wage would be well below that 59% threshold and would dramatically increase consumer demand and help alleviate working poverty.

Your post assumes that employers who think a employees work is worth 7.25 an hour will suddenly pay them double.

No, they'll cut their hours or fire them.

Minimum wage hikes have never been more than 1 dollar an hour. This MORE THAN DOUBLES IT. Yes of course jobs will be lost, tons of them, in fact. And these are the people that need the money the most in some cases, as they are poorly educated and sometimes illegals, felons, etc. But you're happier giving them a "minimum wage" they'll never make because they're now in the unemployment line.

Nice job, now they went from 7.25 an hour to 0.00 an hour. A liberals dream, because NOW they have control over that persons vote.

Some more primitive employers, and America is full of primitive economic thought and practice, will cut in the short term.

But employer demand for workers is based on economic growth in the long run.

There are countries with 15 dollar minimum wages with lower unemployment and greater full employment (far more important) than the USA. Australia for instance.

Given the dramatic levels of working poverty in the USA that would be a macro drag on demand in a mostly consumer driven economy, so in the medium to long term a minimum wage increase to 15 per hour would see greater economic demand hence greater hiring requirements.

 

[Ray From Cleveland]

Except macro economics does work that way, the proof is in other economies who do just that.

For instance Australian minimum wage is about 15.29 USD.

Yet higher or medium wages have remained stagnant for well over a decade. (That includes factoring in the huge wage increases of mining which is a world unto it's own.)

Proving minimum wage increases do not fuel wage inflation in higher paid sectors if the economy is not already in an inflationary upswing.

The US is to the contrary in a deflationary down turn.

Most economic models suggest a minimum wage set at 50% of the medium income not only is not inflationary but adds dramatic consumer demand to the economy. 15 dollars an hour is below that 50% threshold.

Is that what it does? Okay. So if $15.00 an hour is good for our economy, why not make it better with a $25.00 minimum wage? And if $25.00 an hour is better, why not make it the best at $30.00 an hour?

Unlike Australia, the US is fighting to keep our jobs here; government regulations, taxation, and yes, the most significant cost--labor. We've been losing companies and jobs since the 70's, and we don't need that to go on steroids. Companies that don't have to stay won't. They'd sooner move operations overseas and send products back.

 

[Jake Winker Frogen]

Except macro economics does work that way, the proof is in other economies who do just that.

For instance Australian minimum wage is about 15.29 USD.

Yet higher or medium wages have remained stagnant for well over a decade. (That includes factoring in the huge wage increases of mining which is a world unto it's own.)

Proving minimum wage increases do not fuel wage inflation in higher paid sectors if the economy is not already in an inflationary upswing.

The US is to the contrary in a deflationary down turn.

Most economic models suggest a minimum wage set at 50% of the medium income not only is not inflationary but adds dramatic consumer demand to the economy. 15 dollars an hour is below that 50% threshold.

Is that what it does? Okay. So if $15.00 an hour is good for our economy, why not make it better with a $25.00 minimum wage? And if $25.00 an hour is better, why not make it the best at $30.00 an hour?

Unlike Australia, the US is fighting to keep our jobs here; government regulations, taxation, and yes, the most significant cost--labor. We've been losing companies and jobs since the 70's, and we don't need that to go on steroids. Companies that don't have to stay won't. They'd sooner move operations overseas and send products back.

All economics has prices and costs.

Why do employees not sell their products at double the current rate?

Because there comes a point where they cost themselves out of the market.

The same applies to wages.

Almost every economic study on this issue of minimum wages reveals a wage set at 50% of the medium wage in the economy does not price out the worker or damage employment but it does increase consumer demand. As a consumer economy in a period of demand collapse such is one critical and instant measure needed to increase employment over all. It was needed given the terrible rates of working poverty in the US before the pandemic shut downs.

A 15$ minimum wage is well below that 50% threshold.

 

[BasicHumanUnit]

Almost every economic study on this issue of minimum wages reveals a wage set at 50% of the medium wage in the economy does not price out the worker or damage employment but it does increase consumer demand. As a consumer economy in a period of demand collapse such is one critical and instant measure needed to increase employment over all. It was needed given the terrible rates of working poverty in the US before the pandemic shut downs.
A 15$ minimum wage is well below that 50% threshold.

"Medium" wage?

or did you mean "Median" wage ?

Methinks you are not an expert on this.

 

[airplanemechanic]

Except macro economics does work that way, the proof is in other economies who do just that.

For instance Australian minimum wage is about 15.29 USD.

Yet higher or medium wages have remained stagnant for well over a decade. (That includes factoring in the huge wage increases of mining which is a world unto it's own.)

Proving minimum wage increases do not fuel wage inflation in higher paid sectors if the economy is not already in an inflationary upswing.

The US is to the contrary in a deflationary down turn.

Most economic models suggest a minimum wage set at 50% of the medium income not only is not inflationary but adds dramatic consumer demand to the economy. 15 dollars an hour is below that 50% threshold.

Is that what it does? Okay. So if $15.00 an hour is good for our economy, why not make it better with a $25.00 minimum wage? And if $25.00 an hour is better, why not make it the best at $30.00 an hour?

Unlike Australia, the US is fighting to keep our jobs here; government regulations, taxation, and yes, the most significant cost--labor. We've been losing companies and jobs since the 70's, and we don't need that to go on steroids. Companies that don't have to stay won't. They'd sooner move operations overseas and send products back.

All economics has prices and costs.

Why do employees not sell their products at double the current rate?

Because there comes a point where they cost themselves out of the market.

The same applies to wages.

Almost every economic study on this issue of minimum wages reveals a wage set at 50% of the medium wage in the economy does not price out the worker or damage employment but it does increase consumer demand. As a consumer economy in a period of demand collapse such is one critical and instant measure needed to increase employment over all. It was needed given the terrible rates of working poverty in the US before the pandemic shut downs.

A 15$ minimum wage is well below that 50% threshold.

Ok give one link to one reputable economic study stating this. You saying it over and over doesn't validate it.

 

[Jake Winker Frogen]

Except macro economics does work that way, the proof is in other economies who do just that.

For instance Australian minimum wage is about 15.29 USD.

Yet higher or medium wages have remained stagnant for well over a decade. (That includes factoring in the huge wage increases of mining which is a world unto it's own.)

Proving minimum wage increases do not fuel wage inflation in higher paid sectors if the economy is not already in an inflationary upswing.

The US is to the contrary in a deflationary down turn.

Most economic models suggest a minimum wage set at 50% of the medium income not only is not inflationary but adds dramatic consumer demand to the economy. 15 dollars an hour is below that 50% threshold.

Is that what it does? Okay. So if $15.00 an hour is good for our economy, why not make it better with a $25.00 minimum wage? And if $25.00 an hour is better, why not make it the best at $30.00 an hour?

Unlike Australia, the US is fighting to keep our jobs here; government regulations, taxation, and yes, the most significant cost--labor. We've been losing companies and jobs since the 70's, and we don't need that to go on steroids. Companies that don't have to stay won't. They'd sooner move operations overseas and send products back.

All economics has prices and costs.

Why do employees not sell their products at double the current rate?

Because there comes a point where they cost themselves out of the market.

The same applies to wages.

Almost every economic study on this issue of minimum wages reveals a wage set at 50% of the medium wage in the economy does not price out the worker or damage employment but it does increase consumer demand. As a consumer economy in a period of demand collapse such is one critical and instant measure needed to increase employment over all. It was needed given the terrible rates of working poverty in the US before the pandemic shut downs.

A 15$ minimum wage is well below that 50% threshold.

Ok give one link to one reputable economic study stating this. You saying it over and over doesn't validate it.

 

[Jake Winker Frogen]

Happy to oblige.

And of course the proof is in the practice of other economies, not that Americans see the rest of the world as your horrendously expensive health care system proves.

Effect of minimum wage on economic growth, inflation and AD/AS - Economics Help

An evaluation of how the minimum wage affects inflation, unemployment and economic growth? A look at the empirical effects of increasing Nat MW on UK economy.

www.economicshelp.org

 

[Jake Winker Frogen]

Happy to oblige.

And of course the proof is in the practice of other economies, not that Americans see the rest of the world as your horrendously expensive health care system proves.

Effect of minimum wage on economic growth, inflation and AD/AS - Economics Help

An evaluation of how the minimum wage affects inflation, unemployment and economic growth? A look at the empirical effects of increasing Nat MW on UK economy.

www.economicshelp.org

https://cepr.net/documents/publications/min-wage-2013-02.pdf

 

[Jake Winker Frogen]

Happy to oblige.

And of course the proof is in the practice of other economies, not that Americans see the rest of the world as your horrendously expensive health care system proves.

Effect of minimum wage on economic growth, inflation and AD/AS - Economics Help

An evaluation of how the minimum wage affects inflation, unemployment and economic growth? A look at the empirical effects of increasing Nat MW on UK economy.

www.economicshelp.org

https://cepr.net/documents/publications/min-wage-2013-02.pdf

Economists Are Learning to Love the Minimum Wage

Raising the minimum wage helps low-paid workers without damaging the broader economy, the authors of two new research papers find.

www.bloomberg.com

 

[Jake Winker Frogen]

Happy to oblige.

And of course the proof is in the practice of other economies, not that Americans see the rest of the world as your horrendously expensive health care system proves.

Effect of minimum wage on economic growth, inflation and AD/AS - Economics Help

An evaluation of how the minimum wage affects inflation, unemployment and economic growth? A look at the empirical effects of increasing Nat MW on UK economy.

www.economicshelp.org

https://cepr.net/documents/publications/min-wage-2013-02.pdf

Economists Are Learning to Love the Minimum Wage

Raising the minimum wage helps low-paid workers without damaging the broader economy, the authors of two new research papers find.

www.bloomberg.com

Research Shows Minimum Wage Increases Do Not Cause Job Loss | Business For a Fair Minimum Wage

Extensive research refutes the claim that increasing the minimum wage causes increased unemployment and business closures.

www.businessforafairminimumwage.org

 

[Jake Winker Frogen]

Happy to oblige.

And of course the proof is in the practice of other economies, not that Americans see the rest of the world as your horrendously expensive health care system proves.

Effect of minimum wage on economic growth, inflation and AD/AS - Economics Help

An evaluation of how the minimum wage affects inflation, unemployment and economic growth? A look at the empirical effects of increasing Nat MW on UK economy.

www.economicshelp.org

https://cepr.net/documents/publications/min-wage-2013-02.pdf

Economists Are Learning to Love the Minimum Wage

Raising the minimum wage helps low-paid workers without damaging the broader economy, the authors of two new research papers find.

www.bloomberg.com

Research Shows Minimum Wage Increases Do Not Cause Job Loss | Business For a Fair Minimum Wage

Extensive research refutes the claim that increasing the minimum wage causes increased unemployment and business closures.

www.businessforafairminimumwage.org

Gradually raising the minimum wage to $15 would be good for workers, good for businesses, and good for the economy: Testimony before the U.S. House of Representatives Committee on Education and Labor

On February 7, 2019, EPI economist Ben Zipperer testified before the U.S. House of Representatives Committee on Education and Labor in support of the Raise the Wage Act of 2019.

www.epi.org

 

[initforme]

As a teen I'd NEVER work for minimum wage when as a teen I can make alot more simply mowing lawns. It's beneath me.