CBO: Biden $15 An Hour Minimum Wage Will Cost 1.4 Million American Jobs

[danielpalos]

The cryptic nonsense you spout is meaningless gibberish. Do you really think you're communicating? You're just reciting bad poetry.

The minimum wage is the minimum wage. Simply donate any extra money to charity if you don't believe in making the minimum wage as a minimum.

The federal MW should be the absolute bottom level, above which cities and states can set their own if they want to go above. How can you complain about that?

The absolute bottom is, will always be, zero.

Means nothing when the public sector has the social power to fix Standards that the private sector must follow.

 

[Blues Man]

You say that businesses need to pay employees more than what they could get from the government. Want to argue that?

There is no unemployment only underpayment under Capitalism where Greed is Good and anyone can be bought.

I get it. You gots your rights, You gots your personal days. You gots your vacation days. You gots your bereavement days. You gots you disability,. You gots your mental health days. You gots your maternity leave. You gots you paternity leave.
But what you dont gots?

What I gots.

Risking my life savings to start a company so I can make money and hire people.

So what did I gets?

Employees that wanted their personal days, their bereavement days their maternity leave and their paternity leave. Their workman's comp after slipping in the hallway that wasn't even wet, their personal days, their mental health days...

and when I fired them after noticing they had 13 grandparents die in one year; or when I noticed they needed personal days on both Friday and Monday of the same weekend...or one time, when I found one guy doing cocaine lines on my conference room table? I Found my unemployment ratio skyrocket. Now, for those like you who only know capitalisms as a bad thing......two things you likely dont know because you never owned a company

1) Employment tax does not refer to tax the employee is paying....it refers to the tax the employer pays that matches the FICA of the employee plus more. No, Rachel Maddow and Anderson Cooper dont want you to know that.

2) When an employee is discharged for any reason OTHER THAN THEFT, the employer has a responsibility to pay a large portion of that unemployment to the employee via an additional tax. Not just the most recent employer...that employer is referred to as the first employer of record...but also the previous employer ….known as the second employer of record ALSO pay an additional unemployment "Tax".

So no, us fat cat business owners are not what you are told to think of us. We take risks and then we pay when our employees decide to act like children.

You need better management skills?

From 1978 to 2018, CEO compensation grew by 1,007.5% (940.3% under the options-realized measure), far outstripping S&P stock market growth (706.7%) and the wage growth of very high earners (339.2%). In contrast, wages for the typical worker grew by just 11.9%.

CEO compensation has grown 940% since 1978: Typical worker compensation has risen only 12% during that time

The latest report in EPI’s annual series analyzing current and long-term trends in CEO compensation.

www.epi.org

I already told why production increased and it wasn't because the skill of the workforce increased

 

[hadit]

The cryptic nonsense you spout is meaningless gibberish. Do you really think you're communicating? You're just reciting bad poetry.

The minimum wage is the minimum wage. Simply donate any extra money to charity if you don't believe in making the minimum wage as a minimum.

The federal MW should be the absolute bottom level, above which cities and states can set their own if they want to go above. How can you complain about that?

Fifteen an hour will be that, rock bottom cost.

Why, when cities and states can go higher if they want to?

Because they won't be able to go lower.

First, government doesn't have any business artificially setting wages. Second, that becomes even more clear when the cost of living in an area is very low. There is no need for a nation wide, artificially high MW. If we have to have one, it should be set to the level of the lowest cost of living area so that others can set theirs higher if needed. That allows for the greatest flexibility, but it appears that flexibility is not something that you champion.

 

[danielpalos]

I already told why production increased and it wasn't because the skill of the workforce increased

Labor had to learn the skills to run the machinery that increased productivity and valuation of the firm.

 

[danielpalos]

First, government doesn't have any business artificially setting wages.

How did you reach that conclusion?

Congress is delegated the (social) Power to fix Standards for the Union.

 

[Ben Thomson]

You use an example of one type of worker being underpaid as an excuse to underpay others

Characterize it as you will.

No I am not. I'm only showing you why people get paid the money they do. Life is not fair and business sure as hell isn't either. It's not designed to be fair, business is designed to make profits. The people they believe are most responsible for those profits make the most money in a company. After all, you probably wouldn't rush out to see a movie unless it was written by one of the best writers, and the cast being some of the most loved and well known actors. It's those people that get you to the movie theater and pay money to see their work.

The hypocrisy is another thing. Every time a leftist brings up wealth inequity, they never talk about how much Oprah made a year doing a talk show, or how much Garth Brooks made for a tour of his new recording. Only those greedy companies with their greedy CEO's. Well those greedy CEO"s will make less than half of what LaBron James will make in a lifetime with no advanced education and the common sense of a possum. While they were in college, or at the bottom rung of a company moving all over the country to different jobs and fighting to get to the top. LeBron bounced a basketball on a wooden floor and threw it through a hoop.

The first time the 'it will cost jobs' argument was used was the first time a hike was implemented..in 1934 when FDR got it the minimum raised to .25 cents an hour...and it has been used every time since.

 

[danielpalos]

The cryptic nonsense you spout is meaningless gibberish. Do you really think you're communicating? You're just reciting bad poetry.

The minimum wage is the minimum wage. Simply donate any extra money to charity if you don't believe in making the minimum wage as a minimum.

The federal MW should be the absolute bottom level, above which cities and states can set their own if they want to go above. How can you complain about that?

Fifteen an hour will be that, rock bottom cost.

Why, when cities and states can go higher if they want to?

Because they won't be able to go lower.

First, government doesn't have any business artificially setting wages. Second, that becomes even more clear when the cost of living in an area is very low. There is no need for a nation wide, artificially high MW. If we have to have one, it should be set to the level of the lowest cost of living area so that others can set theirs higher if needed. That allows for the greatest flexibility, but it appears that flexibility is not something that you champion.

Only if you ignore our economy as a whole. And, I agree to disagree. Some States are cheaper for the same reason less developed economies are cheaper.

 

[Mr Natural]

The first time the 'it will cost jobs' argument was used was the first time a hike was implemented..in 1934 when FDR got it the minimum raised to .25 cents an hour...and it has been used every time since.

It’s as good a whine as any. And conservatives love a good whine.

 

[Ray From Cleveland]

The first time the 'it will cost jobs' argument was used was the first time a hike was implemented..in 1934 when FDR got it the minimum raised to .25 cents an hour...and it has been used every time since.

There was a time when we traveled by horse and carriage too. Today, our social programs pay so well that sometimes it doesn't make any sense to work. That didn't happen in early 30's. So minimum wage is no longer needed as a lot of people will not work those lower wage jobs, which is why most places don't start at minimum wage. In fact one study showed that people who benefit from multiple social programs live as well as a person making 50K a year when you consider the taxes that a working person has to pay.

I live in a middle-class suburb. My neighbor is charging so much for his rental property that nobody would rent from him. How does he make money? He rents to HUD people. So now we have a society where lowlifes are living in the burbs among hard working Americans, and they are categorized as our poor. I've seen them on their smart phones, I see the satellite dish they had installed on their rental unit.

 

[Toddsterpatriot]

The first time the 'it will cost jobs' argument was used was the first time a hike was implemented..

And it's been true, every single time.

 

[Ben Thomson]

The first time the 'it will cost jobs' argument was used was the first time a hike was implemented..

And it's been true, every single time.

And the economy has not gone into a depression every single time as a result.

 

[Ben Thomson]

The first time the 'it will cost jobs' argument was used was the first time a hike was implemented..in 1934 when FDR got it the minimum raised to .25 cents an hour...and it has been used every time since.

There was a time when we traveled by horse and carriage too. Today, our social programs pay so well that sometimes it doesn't make any sense to work. That didn't happen in early 30's. So minimum wage is no longer needed as a lot of people will not work those lower wage jobs, which is why most places don't start at minimum wage. In fact one study showed that people who benefit from multiple social programs live as well as a person making 50K a year when you consider the taxes that a working person has to pay.

I live in a middle-class suburb. My neighbor is charging so much for his rental property that nobody would rent from him. How does he make money? He rents to HUD people. So now we have a society where lowlifes are living in the burbs among hard working Americans, and they are categorized as our poor. I've seen them on their smart phones, I see the satellite dish they had installed on their rental unit.

So why not drop the minimum back to .25 cents an hour of that's true..

 

[Toddsterpatriot]

The first time the 'it will cost jobs' argument was used was the first time a hike was implemented..

And it's been true, every single time.

And the economy has not gone into a depression every single time as a result.

Who claimed it would? Link?

 

[Ben Thomson]

The first time the 'it will cost jobs' argument was used was the first time a hike was implemented..

And it's been true, every single time.

And the economy has not gone into a depression every single time as a result.

Who claimed it would? Link?

The people who are claiming massive layoffs will result..

 

[Toddsterpatriot]

The first time the 'it will cost jobs' argument was used was the first time a hike was implemented..

And it's been true, every single time.

And the economy has not gone into a depression every single time as a result.

Who claimed it would? Link?

The people who are claiming massive layoffs will result..

CBO says 1.4 million. Are they too high or too low?

 

[Ray From Cleveland]

he people who are claiming massive layoffs will result..

Nobody said massive. But the larger concern is how much harder it will be for new businesses to open up.

 

[Ray From Cleveland]

So why not drop the minimum back to .25 cents an hour of that's true..

I would agree with that totally. We no longer live in a time where you work or starve.

 

[Toddsterpatriot]

he people who are claiming massive layoffs will result..

Nobody said massive. But the larger concern is how much harder it will be for new businesses to open up.

And how much harder it will be for unskilled Americans to get a job.

 

[hadit]

First, government doesn't have any business artificially setting wages.

How did you reach that conclusion?

Congress is delegated the (social) Power to fix Standards for the Union.

Obviously, you haven't been paying attention, because I've told you how sensible people reach that conclusion. You never did look up what happened with Nixon's wage and price controls, did you?

 

[hadit]

The cryptic nonsense you spout is meaningless gibberish. Do you really think you're communicating? You're just reciting bad poetry.

The minimum wage is the minimum wage. Simply donate any extra money to charity if you don't believe in making the minimum wage as a minimum.

The federal MW should be the absolute bottom level, above which cities and states can set their own if they want to go above. How can you complain about that?

Fifteen an hour will be that, rock bottom cost.

Why, when cities and states can go higher if they want to?

Because they won't be able to go lower.

First, government doesn't have any business artificially setting wages. Second, that becomes even more clear when the cost of living in an area is very low. There is no need for a nation wide, artificially high MW. If we have to have one, it should be set to the level of the lowest cost of living area so that others can set theirs higher if needed. That allows for the greatest flexibility, but it appears that flexibility is not something that you champion.

Only if you ignore our economy as a whole. And, I agree to disagree. Some States are cheaper for the same reason less developed economies are cheaper.

Obviously, you want the federal government to shoe horn everyone into the same box. That's not a good thing.