Biden stimulus bill $15 minimum wage

[Wyatt earp]

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 Most tend to use the ancient and outdated paradigm all productivity gains should be gleaned by making workers work longer for less but from a macro economic perspective such thinking is myopic and can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.

Why do you want 42% to make minimum wage?

 

[airplanemechanic]

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

Ok this study is out of the UK. Got one for the US?

 

[Baron]

Idiot, China will be more happier!

 

[airplanemechanic]

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

Ok this one doesn't even specify what MW increase would be. So this study is irrelevant. It doesn't say what you think it does.

This is fun.

 

[Ray From Cleveland]

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.

I see you avoided my question. In any case, there is a theory that leftists hate, it's called action/ reaction. You see, when you take an action against somebody or some people, in most cases there will be a reaction.

Force all industry and companies to pay much more in labor costs, they are going to react, and it won't be positively either. They will make more automation investments, use more outsourcing, move overseas taking their jobs with them, cut employee benefits or lay employees off. When all else fails, increase the cost of products or services.

When those costs go up, it creates inflation and much higher cost of living. Like I said before, people making minimum wage today will be no better off in two or three years after making $15.00 per hour.

The city of Cleveland introduced a $15.00 an hour minimum wage. Every representative voted it down. After doing some research, what they found was that by having a $15.00 minimum wage in their city, industry would pack up and move to the suburbs. Then they approached the county with their idea, and the county rejected it for the same reason: Industry will pack up and move to another county.

Action/ reaction.

 

[initforme]

I'm to the point of if you are overweight....pay higher insurance premiums or get your butt running. No excuses.

 

[Jake Winker Frogen]

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.

I see you avoided my question. In any case, there is a theory that leftists hate, it's called action/ reaction. You see, when you take an action against somebody or some people, in most cases there will be a reaction.

Force all industry and companies to pay much more in labor costs, they are going to react, and it won't be positively either. They will make more automation investments, use more outsourcing, move overseas taking their jobs with them, cut employee benefits or lay employees off. When all else fails, increase the cost of products or services.

When those costs go up, it creates inflation and much higher cost of living. Like I said before, people making minimum wage today will be no better off in two or three years after making $15.00 per hour.

The city of Cleveland introduced a $15.00 an hour minimum wage. Every representative voted it down. After doing some research, what they found was that by having a $15.00 minimum wage in their city, industry would pack up and move to the suburbs. Then they approached the county with their idea, and the county rejected it for the same reason: Industry will pack up and move to another county.

Action/ reaction.

I answered the question, you just do not like the answer.

The Cleveland point is a good one, of course employers are going to move if they can, if they are not tied to the current market or can export their goods and services to it after moving to the lowest paid labour market they will, hell most American employers are such savages they would only pay in canned food if it were legal.

But that only highlights several issues with the American economy, how a standard national minimum wage is required and the more subtle question what are the effects on demand in those low wage paying economies?


Most macro economic data reveals there are diminishing social and economic returns when the minimum wage remains stagnate and falls ever lower than the medium wage as it becomes both a drag on productivity (workers working poverty wages are not productive) and over all economic demand.

 

[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

Ok this one doesn't even specify what MW increase would be. So this study is irrelevant. It doesn't say what you think it does.

This is fun.

I suggest you read slowly this time.

 

[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.

Why do you want 42% to make minimum wage?

See my previous posts which explain the benefits.

 

[Wyatt earp]

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.

Why do you want 42% to make minimum wage?

See my previous posts which explain the benefits.

There is no benefits

 

[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.

Why do you want 42% to make minimum wage?

See my previous posts which explain the benefits.

There is no benefits

I am not bored enough to play with the "special children" today Bear.

 

[toobfreak]

The reason for the actions in DC is actions by right wing fascists.

So in your view, this country was FOUNDED on fascism because our Founders stood up against an unjust authority just as the DC Protesters did.

Americans did elect Joe Biden whether you want to accespt it or not.

There is no proof of that or not since the mountain of evidnce suggesting otherwise was never tried in court before a panel of investigators to prove one way or the other. Apparently the Democrats are so dubious of their real hold on the election, they would rather have riots, see people die in the streets and turn DC into an armed camp rather than open the evidence up to a fair and free hearing to preserve the unity of the nation. The Democrats are forever branded as the party that tore this nation apart into Civil War to install their own leader by autocratic force.

Big Macs will not cost $10 and snicker bars will not cost $5.

A good hamburger already costs $7, chump. Just what do you think you'll have to charge to raise your labor from $8.50 to $15 without cutting staff in half, automating everything with machines and doubling the work load on those few remaining?

Why should we be subsiding business owners who refuse to pay their employees a decent wage.

It's UNSKILLED labor, douchebag, a monkey could do it. Or a machine. These jobs were never intended to pay a "decent wage" nor for a person to live on and raise a family, they are for kids in school to make a few bucks to get their feet wet in the job market.

 

[Wyatt earp]

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.

Why do you want 42% to make minimum wage?

See my previous posts which explain the benefits.

There is no benefits

I am not bored enough to play with the "special children" today Bear.

**** you dude, you really think someone will make $30 bucks tomorrow, no they will make minimum wage

 

[HenryBHough]

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

So Xiden will head your advice and ban them? Maybe he oughta ban hard liquor, too but that might to too painful for you.

 

[Ray From Cleveland]

I answered the question, you just do not like the answer.

I must have missed the answer and cannot find it, so if you can humor me, one more time: If $15.00 an hour minimum wage is good for the economy, then $25.00 an hour is even better, correct? And if $25.00 an hour is better, then why not make it the best at $30.00 an hour?

The Cleveland point is a good one, of course employers are going to move if they can, if they are not tied to the current market or can export their goods and services to it after moving to the lowest paid labour market they will, hell most American employers are such savages they would only pay in canned food if it were legal.

But that only highlights several issues with the American economy, how a standard national minimum wage is required and the more subtle question what are the effects on demand in those low wage paying economies?

Exactly, now you have it. Employers will react to a huge minimum wage increase. They will move out of the country because all industry would have to pay their workers more money whether they were paying them minimum wage or not.

As a landlord, I try to give my tenants reasonably priced apartments. But what do I do when my costs start increasing? My grocery bill increases greatly. My plumber charges more money for services or repair. Same for my heating guy. Gasoline for lawn and snow removal equipment. Items I need to buy from Home Depot or my local hardware store for things I repair myself. The answer is I have to increase my rental prices. I won't take the loss. That's not why I bought into this business.

Besides higher rental prices, my tenants are also faced with the same problem I have: the cost of everything they buy went up. So even if they are making more money, how are they ahead?

 

[busybee01]

You are the stupid ****. Workers should get paid a decent wage. That is the bottom line.

Correct, they should. That's why they need to make their labor worth a decent wage.

This is not pure capitalism. The minimum wage should be to around $10-12 dollars. Where it is now is ridiculous.

 

[busybee01]

We saw what the Republicans insisted on. It was a lobbyist's dream while ordinary people got the shaft and the entire bill. That had so much pork even Trump knew it. He still signed it though.

Trump had no choice but to sign it. The Democrats fought the Republicans until the last day before a government shutdown.

His Treasury Secretary negotiated this mess. Also Trump gave up his leverage by signing it. The Democrats should not have signed onto it.

 

[busybee01]

If you don't like it then start your own company.

Do you mean like Parlor did and then got shut down by AWS because they didn't like how they were applying their terms of service? When the Democrats start controlling all the ISP's, it's over. You lemmings will never get it until it is too late.

Parlor should set up their own internet connection just like Amazon did. Parlor has allowed it's services to be used by right wing fascists to communicate and plan other attacks.

 

[busybee01]

Everyone realized the seriousness of it eventually except for Trump. He tried to force schools to hold classes in person. This was over the summer. He agitated right wing fascists that led to federal charges for attempting to kidnap the Michigan Governor. That is what you call free?

Kids in school have the lowest rate to contract or spread covid. The younger the kids, the less chances. Trump didn't have the ability to force schools to do anything, he urged schools to open back up. Schools closed for two reasons, the first being their Democrat voting union teachers got to stay home in their robe and do online teaching while still getting paid. The second reason is it created a more tragic environment because a parent had to be home with their younger children precluding them from working.

Again that has not been the case. While the infection rate is lower, it still occurs all too frequently. Several jurisdictions who have tried in-person classes have abandoned them. That was predictable except to Trump who talked about witholding money from districts that did not hold in-person classes. Also Trump was too fixated on opening the economy than slowing the coronavirus. The result is that it is out of control.

 

[busybee01]

e was offering lies to people. He has blood on his hands and thats why he has been shown the door.

No, he lost because of the Democrat strategy to get lowlifes to vote using mail. Trump gained over 10 million more supporters than his first run, and if not for mail-in voting, he would have easily won this election.

Democrats know that lowlifes are lazy welfare collectors. They won't take the effort to vote because for one, they are politically ignorant, and two, are lazy. Politically ignorant people vote Democrat because Democrat sounds like democracy, and democracy is a good thing, right????

Plop a ballot on their kitchen table, sure they will vote. You commies won't have that in your favor come 2022. Covid will be gone by then.

People who vote are not lowlifes. You are the lowlife for attempting to smear people just because they didn't vote the way you want them to vote. There is nothing wrong with people who vote by mail. In Gwinnett and Cobb counties in Georgia, the number of mail-in ballots were huge. These are suburban counties who as early as 2014 voted Republican.

Mail in balloting in here to stay in 2022. In most states, this is a permanent fixture. In 2022, the question will be whether you want to turn the House over to a Republican Party who tried to steal a election and throw out their votes and encourage right wing fascists to storm the capital.

Yes, some commie states will have mail-in voting, but real Americans will vote like we always have and make sure our votes count and can't be compromised. You're not going to ever see a turnout like the last election again unless another pandemic or similar tragedy hits the country.

Why don't you shut up with the commie nonsense. There is nothing commie about voting by mail. It should be expanded.