Minimum wage increase would free people from work

[Mr. H.]

Another day in the life of Obama in Wonderland.

 

[Quantum Windbag]

i love this idea that people cant afford 10.10 an hour and will have to cut jobs due to it.
Yeah..Im not really going to buy this bullshit when i watch my own owner get a massive bonus at the end of the year, but take over a month to give out a 50 cent raise.

Uh huh....people can officially blow me.

That is not what the report said, idiot.

By the way, what makes you think you can hike wages by 40% and not have an impact on something? Is money always magic with you? If so, can you explain why the union in Hayward CA is whinging about a magical 5% pay cut? If a 40% pay hike isn't a big deal, a $300 a month cut shouldn't be either.

 

[Avorysuds]

i love this idea that people cant afford 10.10 an hour and will have to cut jobs due to it.
Yeah..Im not really going to buy this bullshit when i watch my own owner get a massive bonus at the end of the year, but take over a month to give out a 50 cent raise.

Uh huh....people can officially blow me.

Almost reason for someone to... I dono... start their owe fucking business...

Naa, why not leach off someone else's success that they took personal risk to do. Hell, demand they give you more money, HC, welfare and maybe even make it impossible to fire them no matter how bad of an employee they are... Yeah, that's the ticket! Why try to do anything with your life!

The fact that min wage has to keep going up should be a hint that min wage is a vote buying line of shit with no real payoff.

 

[LeftofLeft]

The CBO absolutely suqs at predictions, no imagination at all. The country needs DEMAND, some money in customers' handsso feq em...

You are correct in that the country needs demand and money in customers hand. It does not take imagination by the CBO to accomplish this. It takes a free market. High levels if Government intervention in the presence or promise of increased regulation, mandates, and taxes only serve to stifle demand and keep money on the sidelines. Simple economics, not imagination.

 

[KNB]

Did I say that right? I don't want to be accused of racism by saying that Obama wants to fire a bunch of poor people who barely scrape by.

Once fully implemented in the second half of 2016, the $10.10 option would reduce total employment by about 500,000 workers, or 0.3 percent, CBO projects (see the table below). As with any such estimates, however, the actual losses could be smaller or larger; in CBO’s assessment, there is about a two-thirds chance that the effect would be in the range between a very slight reduction in employment and a reduction in employment of 1.0 million workers…
The increased earnings for low-wage workers resulting from the higher minimum wage would total $31 billion, by CBO’s estimate. However, those earnings would not go only to low-income families, because many low-wage workers are not members of low-income families. Just 19 percent of the $31 billion would accrue to families with earnings below the poverty threshold, whereas 29 percent would accrue to families earning more than three times the poverty threshold, CBO estimates.
Moreover, the increased earnings for some workers would be accompanied by reductions in real (inflation-adjusted) income for the people who became jobless because of the minimum-wage increase, for business owners, and for consumers facing higher prices.
​

CBO | The Effects of a Minimum-Wage Increase on Employment and Family Income

On the plus side, it would also increase the deficit.

$4t wasted on Iraq over lies.

Also, why exactly does a multi-billion dollar corporation "HAVE" to increase prices for consumers to pay higher wages? If a corporation already profits $1.5b because of paying low wages to reduce expenses, despite Obama's Marxist EPA regulations and unbearably high capital gains taxes, then couldn't the corporation logically pay their employees more and make slightly less than $1.5b? Maybe the corporation and shareholders could settle for profiting "only" $1b so their employees can eat, too?

 

[Avatar4321]

Can't argue the points so you try to shift the discussion to Iraq... Do you seriously think we are ignorant of this tactic?

 

[KNB]

Can't argue the points so you try to shift the discussion to Iraq... Do you seriously think we are ignorant of this tactic?

Can't argue the points? What points? The first paragraph of the report basically says, "Some people will get ahead, other people will lose out." That sounds like everyday life. The rest of it is a bunch of "possibly", "perhaps", "could", and "might". As the one quote stated, the reduction could range from "very slight" to "nearly 1.0 million workers". That's a pretty broad estimate, and as the report states, it is an estimate that is subject to change as new information becomes available.

What the report doesn't answer is the very simple question: why does a corporation that profits billions of dollars every year "have" to lay off anyone to be able to afford paying higher employee wages?

 

[Quantum Windbag]

Did I say that right? I don't want to be accused of racism by saying that Obama wants to fire a bunch of poor people who barely scrape by.

Once fully implemented in the second half of 2016, the $10.10 option would reduce total employment by about 500,000 workers, or 0.3 percent, CBO projects (see the table below). As with any such estimates, however, the actual losses could be smaller or larger; in CBO’s assessment, there is about a two-thirds chance that the effect would be in the range between a very slight reduction in employment and a reduction in employment of 1.0 million workers…
The increased earnings for low-wage workers resulting from the higher minimum wage would total $31 billion, by CBO’s estimate. However, those earnings would not go only to low-income families, because many low-wage workers are not members of low-income families. Just 19 percent of the $31 billion would accrue to families with earnings below the poverty threshold, whereas 29 percent would accrue to families earning more than three times the poverty threshold, CBO estimates.
Moreover, the increased earnings for some workers would be accompanied by reductions in real (inflation-adjusted) income for the people who became jobless because of the minimum-wage increase, for business owners, and for consumers facing higher prices.
​

CBO | The Effects of a Minimum-Wage Increase on Employment and Family Income

On the plus side, it would also increase the deficit.

$4t wasted on Iraq over lies.

Also, why exactly does a multi-billion dollar corporation "HAVE" to increase prices for consumers to pay higher wages? If a corporation already profits $1.5b because of paying low wages to reduce expenses, despite Obama's Marxist EPA regulations and unbearably high capital gains taxes, then couldn't the corporation logically pay their employees more and make slightly less than $1.5b? Maybe the corporation and shareholders could settle for profiting "only" $1b so their employees can eat, too?

Excuse me, oh master of idiotic things that have nothing to do with the thread, would not lying about Iraq raise the minimum wage? By the way, can you give me a list of every multimillion dollar corporation that pays minimum wage?

 

[berilgonzalvis]

For many people, increase in their wages means having an extra penny to buy cloths and food for their children.

 

[Not2BSubjugated]

The CBO absolutely suqs at predictions, no imagination at all. The country needs DEMAND, some money in customers' handsso feq em...

You are correct in that the country needs demand and money in customers hand. It does not take imagination by the CBO to accomplish this. It takes a free market. High levels if Government intervention in the presence or promise of increased regulation, mandates, and taxes only serve to stifle demand and keep money on the sidelines. Simple economics, not imagination.

I love this new religion on the left that demand is the all-encompassing job creating force, and with demand nothing can stop the success of the economy.

Sorry, but if businesses that produce things here are taxed too heavily and have to bear the burden of heavy regulation on top of increasing energy prices and, yes, even labor costs for low-skilled workers, the free trade agreements ensure that companies which are large enough to do so can profit by relocating as much of their operations overseas as possible.

Labor isn't the all-encompassing factor that both sides make it out to be when it suits their argument, and demand isn't the all-powerful force that the pseudo-cainsians that pretend that their macroeconomic opinions aren't based on party politics would have you believe.

There are many other factors at play here, kids. Get educated or stfu

 

[KNB]

Did I say that right? I don't want to be accused of racism by saying that Obama wants to fire a bunch of poor people who barely scrape by.

CBO | The Effects of a Minimum-Wage Increase on Employment and Family Income

On the plus side, it would also increase the deficit.

$4t wasted on Iraq over lies.

Also, why exactly does a multi-billion dollar corporation "HAVE" to increase prices for consumers to pay higher wages? If a corporation already profits $1.5b because of paying low wages to reduce expenses, despite Obama's Marxist EPA regulations and unbearably high capital gains taxes, then couldn't the corporation logically pay their employees more and make slightly less than $1.5b? Maybe the corporation and shareholders could settle for profiting "only" $1b so their employees can eat, too?

Excuse me, oh master of idiotic things that have nothing to do with the thread, would not lying about Iraq raise the minimum wage?

How many people could we have fed and educated with the $4t spent on Iraq if Bush and Cheney hadn't lied to the entire world?
THE IRAQ WAR -- PART I:*The U.S. Prepares for Conflict, 2001

By the way, can you give me a list of every multimillion dollar corporation that pays minimum wage?

Yes I can. Have you ever heard of "the internet"?
America's 5 biggest low-wage employers- MSN Money

 

[TemplarKormac]

Increasing minimum wage would kill 500,000 jobs. Or did Obama not get the memo?

CBO report: Minimum wage hike could cost 500,000 jobs

 

[KNB]

Increasing minimum wage would kill 500,000 jobs. Or did Obama not get the memo?

CBO report: Minimum wage hike could cost 500,000 jobs

Congratulations. You've memorized the latest talking point.

WHY does increasing the minimum wage cost 500k jobs? WHY do corporations that profit in the billions HAVE to fire anyone to pay higher wages?

 

[SwimExpert]

i love this idea that people cant afford 10.10 an hour and will have to cut jobs due to it.
Yeah..Im not really going to buy this bullshit when i watch my own owner get a massive bonus at the end of the year, but take over a month to give out a 50 cent raise.

Uh huh....people can officially blow me.

You're right about one thing. The idea that businesses can't afford it is generally false. But it's also mostly irrelevant.

What really matter is that businesses don't have to afford it. They can raise prices and/or cut employment to compensate for the fact. And since they don't want to and are evil, greedy bastards, they won't afford it. They'll raise prices and/or cut employment.

Truth be told, though, I've never bought arguments that raising the minimum wage will substantially effect employment figures. At the end of the day work needs to be done in order to generate profit, and that requires labor. What will happen is that the costs will be passed along to the consumer, quickly rendering the increased minimum wage moot.

 

[francoHFW]

This thread isn't about "companies" jackass. It's anout the federal government costing us jobs.

Go play in the street moron

Because it isn't the government costing jobs its the companies throwing fits when they can pay million dollar bonuses but complain they can't afford 1$ extra an hour...its bullshit and its got plenty of suckers like you to believe it.

The ill informed are so stupid.

This wage increase only affects government jobs idiot. Private industry has nothing to do with this fiasco

That's Obama's executive order. As usual. you're the moron lol...

 

[francoHFW]

The CBO doesn't do savings that haven't been proved yet, so their predictions about ACA suq- same thing here...but profits that haven't been proved...

 

[Moneyman]

i love this idea that people cant afford 10.10 an hour and will have to cut jobs due to it.
Yeah..Im not really going to buy this bullshit when i watch my own owner get a massive bonus at the end of the year, but take over a month to give out a 50 cent raise.

Uh huh....people can officially blow me.

Yeah, say that to the small businesses that are basically running even right now, and tell me that won't affect them. Small businesses make up about 60-70% of all new jobs in this country. Obviously big companies like McDonalds, Walmart etc can handle it, but small business owners won't be able to handle the additional costs.

The gov't should be setting the way so these companies can grow, not implementing stuff like Min. Wage and Obamacare on companies.

 

[NightFox]

WHY do corporations that profit in the billions HAVE to fire anyone to pay higher wages?

The answer is that most companies probably won't "fire" anyone over being forced by government to pay higher wages, they just won't hire as many people as they would have otherwise. Basic economics; when you raise the price of a good or service the market tends to buy less of it, the magnitude of the reduction in demand is subject to the elasticity variable of the good or service in question.

 

[ScienceRocks]

Why shouldn't people that work be able to survive? So you are suggesting that some people should live on the street if they're not intelligent enough to be super successful.

 

[Two Thumbs]

One has to wonder how many times we need to increase the minimum wage and get negative results before we realize that's not the way to fix our economy.

You still think it's intentional?