Minimum wage rate and labors’ market prices.

[Toddsterpatriot]

From 1979 to 2018, net productivity rose 69.6 percent,

How much more productive are unskilled workers compared to 40 years ago?

The "valuation of that productivity".

$7.25

Because that is the Statutory minimum wage or because of productivity? Right wingers want no minimum wage laws at all, just like in the good old days.

If you have evidence of the rising productivity of unskilled workers from 1979-2020, post it.

 

[danielpalos]

From 1979 to 2018, net productivity rose 69.6 percent, while the hourly pay of typical workers essentially stagnated—increasing only 11.6 percent over 39 years (after adjusting for inflation). This means that although Americans are working more productively than ever, the fruits of their labors have primarily accrued to those at the top and to corporate profits, especially in recent years.--https://www.epi.org/productivity-pay-gap/

 

[Toddsterpatriot]

From 1979 to 2018, net productivity rose 69.6 percent, while the hourly pay of typical workers essentially stagnated—increasing only 11.6 percent over 39 years (after adjusting for inflation). This means that although Americans are working more productively than ever, the fruits of their labors have primarily accrued to those at the top and to corporate profits, especially in recent years.--https://www.epi.org/productivity-pay-gap/

So, still no evidence?

 

[danielpalos]

From 1979 to 2018, net productivity rose 69.6 percent, while the hourly pay of typical workers essentially stagnated—increasing only 11.6 percent over 39 years (after adjusting for inflation). This means that although Americans are working more productively than ever, the fruits of their labors have primarily accrued to those at the top and to corporate profits, especially in recent years.--https://www.epi.org/productivity-pay-gap/

So, still no evidence?

The Valuation of Productivity is what I meant, in case you are confused. It is not like Labor produces muskets the good old fashioned way any more.

 

[Toddsterpatriot]

From 1979 to 2018, net productivity rose 69.6 percent, while the hourly pay of typical workers essentially stagnated—increasing only 11.6 percent over 39 years (after adjusting for inflation). This means that although Americans are working more productively than ever, the fruits of their labors have primarily accrued to those at the top and to corporate profits, especially in recent years.--https://www.epi.org/productivity-pay-gap/

So, still no evidence?

The Valuation of Productivity is what I meant, in case you are confused. It is not like Labor produces muskets the good old fashioned way any more.

Unskilled workers never made muskets.

Conflating the average productivity of all US workers with the productivity of the bottom 2% of hourly workers is proof that you're a moron.

 

[danielpalos]

From 1979 to 2018, net productivity rose 69.6 percent, while the hourly pay of typical workers essentially stagnated—increasing only 11.6 percent over 39 years (after adjusting for inflation). This means that although Americans are working more productively than ever, the fruits of their labors have primarily accrued to those at the top and to corporate profits, especially in recent years.--https://www.epi.org/productivity-pay-gap/

So, still no evidence?

The Valuation of Productivity is what I meant, in case you are confused. It is not like Labor produces muskets the good old fashioned way any more.

Unskilled workers never made muskets.

Conflating the average productivity of all US workers with the productivity of the bottom 2% of hourly workers is proof that you're a moron.

Unskilled workers were helping produce muskets and learning new skills. Right wing special pleading makes distinctions for the general badfare not the general welfare.

 

[Supposn]

... But still no backup for your claim,
"the minimum wage substantially effects 32% of USA's employees' rates"

ToddsterPatriot, economic concepts which are often also political concepts, are generally not proven “beyond any reasonable doubt”. Much more often it’s the preponderance of evidence and logical analysis leading us to determine the validity of those concepts.

Our, (i.e. yours and my) determinations of what’s the preponderance of evidence and logical analysis justifying legally mandated minimum wage rates differ. We continue to await opinions of future historians for more definite answers.
Respectfully, Supposn

 

[Toddsterpatriot]

... But still no backup for your claim,
"the minimum wage substantially effects 32% of USA's employees' rates"

ToddsterPatriot, economic concepts which are often also political concepts, are generally not proven “beyond any reasonable doubt”. Much more often it’s the preponderance of evidence and logical analysis leading us to determine the validity of those concepts.

Our, (i.e. yours and my) determinations of what’s the preponderance of evidence and logical analysis justifying legally mandated minimum wage rates differ. We continue to await opinions of future historians for more definite answers.
Respectfully, Supposn

economic concepts which are often also political concepts, are generally not proven “beyond any reasonable doubt”. Much more often it’s the preponderance of evidence

Or, in the case of your claim, no evidence.

 

[Supposn]

... economic concepts which are often also political concepts, are generally not proven “beyond any reasonable doubt”. Much more often it’s the preponderance of evidence [and logical analysis leading us to determine the validity of those concepts].

Or, in the case of your claim, no evidence.

Toddsterpatriot, you quote me, and then ignore any portion of my post that inconvenience your arguments.

IMO our differences are less due to my lacking a preponderance of evidence and logical analysis leading to determining the validity of my arguments, but rather more to your inability to recognize the preponderance of those arguments’ validity. Respectfully, Supposn

 

[Supposn]

If the lowest wage/lowest skilled workers could keep up with the productivity
of the nation, they wouldn't need a government mandated wage.
They'd be productive, in demand employees.
They wouldn't be sitting in their mom's basement whining about not getting unemployment
compensation while whining they deserve it for never working.

ToddsterPatriot employers do not determine the minimum wage rate. Employers do determine their enterprises’ wage differentials, (i.e. all other wage rates exceeding the applicable minimum rate). The applicable minimum rate, and the employee’s rate of production are two of the many factors they consider when determining their enterprises’ wage scales.

Enterprise owners generally strive to pay no higher rates than necessary to achieve their own optimum profits, or to reduce their exposure to greater losses. Those rather than employees’ rates of production are the foremost factors that employers generally consider when determining their enterprises’ wage scales.
Respectfully, Supposn

 

[Toddsterpatriot]

... economic concepts which are often also political concepts, are generally not proven “beyond any reasonable doubt”. Much more often it’s the preponderance of evidence [and logical analysis leading us to determine the validity of those concepts].

Or, in the case of your claim, no evidence.

Toddsterpatriot, you quote me, and then ignore any portion of my post that inconvenience your arguments.

IMO our differences are less due to my lacking a preponderance of evidence and logical analysis leading to determining the validity of my arguments, but rather more to your inability to recognize the preponderance of those arguments’ validity. Respectfully, Supposn

IMO our differences are less due to my lacking a preponderance of evidence

You haven't posted any evidence to back up your opinion that,
"the minimum wage substantially effects 32% of USA's employees' rates"

 

[Toddsterpatriot]

If the lowest wage/lowest skilled workers could keep up with the productivity
of the nation, they wouldn't need a government mandated wage.
They'd be productive, in demand employees.
They wouldn't be sitting in their mom's basement whining about not getting unemployment
compensation while whining they deserve it for never working.

ToddsterPatriot employers do not determine the minimum wage rate. Employers do determine their enterprises’ wage differentials, (i.e. all other wage rates exceeding the applicable minimum rate). The applicable minimum rate, and the employee’s rate of production are two of the many factors they consider when determining their enterprises’ wage scales.

Enterprise owners generally strive to pay no higher rates than necessary to achieve their own optimum profits, or to reduce their exposure to greater losses. Those rather than employees’ rates of production are the foremost factors that employers generally consider when determining their enterprises’ wage scales.
Respectfully, Supposn

ToddsterPatriot employers do not determine the minimum wage rate.

Because the market does.

That's why less than 2% of hourly workers make federal minimum wage or less.

That's why your claim that eliminating the FMW would result in a race to the bottom is wrong.

 

[danielpalos]

... economic concepts which are often also political concepts, are generally not proven “beyond any reasonable doubt”. Much more often it’s the preponderance of evidence [and logical analysis leading us to determine the validity of those concepts].

Or, in the case of your claim, no evidence.

Toddsterpatriot, you quote me, and then ignore any portion of my post that inconvenience your arguments.

IMO our differences are less due to my lacking a preponderance of evidence and logical analysis leading to determining the validity of my arguments, but rather more to your inability to recognize the preponderance of those arguments’ validity. Respectfully, Supposn

IMO our differences are less due to my lacking a preponderance of evidence

You haven't posted any evidence to back up your opinion that,
"the minimum wage substantially effects 32% of USA's employees' rates"

It should shift the low wage sector of employment to a new equilibrium. An increase in the minimum wage is a market friendly, Institutional upward pressure on wages in the rest of the sector.

 

[Toddsterpatriot]

... economic concepts which are often also political concepts, are generally not proven “beyond any reasonable doubt”. Much more often it’s the preponderance of evidence [and logical analysis leading us to determine the validity of those concepts].

Or, in the case of your claim, no evidence.

Toddsterpatriot, you quote me, and then ignore any portion of my post that inconvenience your arguments.

IMO our differences are less due to my lacking a preponderance of evidence and logical analysis leading to determining the validity of my arguments, but rather more to your inability to recognize the preponderance of those arguments’ validity. Respectfully, Supposn

IMO our differences are less due to my lacking a preponderance of evidence

You haven't posted any evidence to back up your opinion that,
"the minimum wage substantially effects 32% of USA's employees' rates"

It should shift the low wage sector of employment to a new equilibrium. An increase in the minimum wage is a market friendly, Institutional upward pressure on wages in the rest of the sector.

It should shift the low wage sector of employment to a new equilibrium.

DURR.

 

[Supposn]

ToddsterPatriot employers do not determine the minimum wage rate. Because the market does.

That's why less than 2% of hourly workers make federal minimum wage or less.
That's why your claim that eliminating the FMW would result in a race to the bottom is wrong.

Your duplicity, your pretense of ignorance is tiresome.
The federal minimum wage rate was determined by Congress, signed by the president, and enacted by the federal government of the United States.
There are some ignorant people that contend how many persons earn the precise rate of $7.25 per hour is germane to discussion of our minimum wage rate’s justification; I do not believe you’re stupid.

The determinations of almost the nation's legislative bodies are contrary to your opinion. This is not proof, but those nations' legislators are certainly refuting rather than concurring with your opinion. Respectfully, Supposn

ToddsterPatriot, ... However, this is implied by the CBO reports indications of minimum wage rate’s influence upon low wage rates; it’s the reason why every nation that can effectively enforce their laws, (regardless of those nations economic systems), all have some provisions for something that serves the purpose of USA’s minimum wage rate laws.
In some of those nations it’s entirely a government matter, in other nations it’s a matter of a quasi-government organization that’s completely supported by their governments’ laws.
...

 

[Toddsterpatriot]

ToddsterPatriot employers do not determine the minimum wage rate. Because the market does.

That's why less than 2% of hourly workers make federal minimum wage or less.
That's why your claim that eliminating the FMW would result in a race to the bottom is wrong.

Your duplicity, your pretense of ignorance is tiresome.
The federal minimum wage rate was determined by Congress, signed by the president, and enacted by the federal government of the United States.
There are some ignorant people that contend how many persons earn the precise rate of $7.25 per hour is germane to discussion of our minimum wage rate’s justification; I do not believe you’re stupid.

The determinations of almost the nation's legislative bodies are contrary to your opinion. This is not proof, but those nations' legislators are certainly refuting rather than concurring with your opinion. Respectfully, Supposn

ToddsterPatriot, ... However, this is implied by the CBO reports indications of minimum wage rate’s influence upon low wage rates; it’s the reason why every nation that can effectively enforce their laws, (regardless of those nations economic systems), all have some provisions for something that serves the purpose of USA’s minimum wage rate laws.
In some of those nations it’s entirely a government matter, in other nations it’s a matter of a quasi-government organization that’s completely supported by their governments’ laws.
...

The federal minimum wage rate was determined by Congress, signed by the president, and enacted by the federal government of the United States.

You're damn right it was!!!

There are some ignorant people that contend how many persons earn the precise rate of $7.25 per hour is germane to discussion of our minimum wage rate’s justification;

Can you believe it?
When you're talking about wages, statistics actually matter!!!

The determinations of almost the nation's legislative bodies are contrary to your opinion.

Of course, we should decide what economics is correct, based on how politicians vote.

LOL!

However, this is implied by the CBO reports indications of minimum wage rate’s influence upon low wage rates;

Yes, your fact free opinion is very convincing.

 

[danielpalos]

... economic concepts which are often also political concepts, are generally not proven “beyond any reasonable doubt”. Much more often it’s the preponderance of evidence [and logical analysis leading us to determine the validity of those concepts].

Or, in the case of your claim, no evidence.

Toddsterpatriot, you quote me, and then ignore any portion of my post that inconvenience your arguments.

IMO our differences are less due to my lacking a preponderance of evidence and logical analysis leading to determining the validity of my arguments, but rather more to your inability to recognize the preponderance of those arguments’ validity. Respectfully, Supposn

IMO our differences are less due to my lacking a preponderance of evidence

You haven't posted any evidence to back up your opinion that,
"the minimum wage substantially effects 32% of USA's employees' rates"

It should shift the low wage sector of employment to a new equilibrium. An increase in the minimum wage is a market friendly, Institutional upward pressure on wages in the rest of the sector.

It should shift the low wage sector of employment to a new equilibrium.

View attachment 414761

DURR.

It would be, but a Minimum wage is a minimum not a maximum. An increase in wages creates more demand and generates more in federal income tax revenue. In the long run, a positive multiplier will apply to help correct that contraction.

 

[Supposn]

ToddsterPatriot employers do not determine the minimum wage rate.
Because the market does.
That's why less than 2% of hourly workers make federal minimum wage or less.
That's why your claim that eliminating the FMW would result in a race to the bottom is wrong.

ToddsterPatriot, your pretense of ignorance, ((i.e. duplicity) is tiresome. A complete fool might contend the numbers of persons earning precisely $7.25 per hour does or does not justify legally enforced minimum wage rates; I prefer to believe that I’m not corresponding with a complete fool.

My family has often heard our grandmother repeat the adage, ‘If three people say your drunk, quit trying to arise from the floor”; I suppose the adage is similarly found within the languages of many nations.
If almost all nations’ legislative bodies, (including our United States Congress), disagree, and none indicate any agreement with your opinion this mater, I’m suggesting perhaps your opinion might be of some fault? Respectfully, Supposn

 

[Toddsterpatriot]

ToddsterPatriot employers do not determine the minimum wage rate.
Because the market does.
That's why less than 2% of hourly workers make federal minimum wage or less.
That's why your claim that eliminating the FMW would result in a race to the bottom is wrong.

ToddsterPatriot, your pretense of ignorance, ((i.e. duplicity) is tiresome. A complete fool might contend the numbers of persons earning precisely $7.25 per hour does or does not justify legally enforced minimum wage rates; I prefer to believe that I’m not corresponding with a complete fool.

My family has often heard our grandmother repeat the adage, ‘If three people say your drunk, quit trying to arise from the floor”; I suppose the adage is similarly found within the languages of many nations.
If almost all nations’ legislative bodies, (including our United States Congress), disagree, and none indicate any agreement with your opinion this mater, I’m suggesting perhaps your opinion might be of some fault? Respectfully, Supposn

your pretense of ignorance,

Hilarious, coming from you.

You haven't posted any evidence to back up your opinion that,
"the minimum wage substantially effects 32% of USA's employees' rates"

If almost all nations’ legislative bodies, (including our United States Congress), disagree,

If any agree with your above claim, post their agreement.
Please include their math.

 

[Toddsterpatriot]

... economic concepts which are often also political concepts, are generally not proven “beyond any reasonable doubt”. Much more often it’s the preponderance of evidence [and logical analysis leading us to determine the validity of those concepts].

Or, in the case of your claim, no evidence.

Toddsterpatriot, you quote me, and then ignore any portion of my post that inconvenience your arguments.

IMO our differences are less due to my lacking a preponderance of evidence and logical analysis leading to determining the validity of my arguments, but rather more to your inability to recognize the preponderance of those arguments’ validity. Respectfully, Supposn

IMO our differences are less due to my lacking a preponderance of evidence

You haven't posted any evidence to back up your opinion that,
"the minimum wage substantially effects 32% of USA's employees' rates"

It should shift the low wage sector of employment to a new equilibrium. An increase in the minimum wage is a market friendly, Institutional upward pressure on wages in the rest of the sector.

It should shift the low wage sector of employment to a new equilibrium.

View attachment 414761

DURR.

It would be, but a Minimum wage is a minimum not a maximum. An increase in wages creates more demand and generates more in federal income tax revenue. In the long run, a positive multiplier will apply to help correct that contraction.

An increase in wages creates more demand

and generates more in federal income tax revenue.

The higher business tax rate means a drop in federal income tax revenue.
21% is higher than 10% and higher than 12%, no matter how much weed you smoke.