The Min Wage is really a tax on the poor

The Rabbi

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From today's WSJ, Prof Macurdy shows that raising the min wage is really a tax on the poor, not a benefit to them. Among supprising findings, min wage workers exist across the household income spectrum. So Dad is a lawyer, mom is a dental tech and junior works min wage at Mickey D's. That's just as often as any other scenario. The crux here is higher min wages create higher prices, and since those higher prices disproportiantely affect the poor it is a tax on them, while min wage is spread evenly through the socio economic strata. Of course the Dims wont get this and will claim...well, you'll see.
Thomas MaCurdy The Minimum-Wage Stealth Tax on the Poor - WSJ
 

PaintMyHouse

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Yes, just imagine all the jobs they could have here for the buck fifty a day they get in China? Paradise...
 

Delta4Embassy

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Why am I not surprised a conservative doesn't understand math?

A tax is taking money away from people.

Pay/compensation is giving money to people for doing work.

Get it? One's taking money, the other's giving it.
 
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The Rabbi

The Rabbi

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Why am I not surprised a conservative doesn't understand math?

A tax is taking money away from people.

Pay/compensation is giving money to people for doing work.

Get it? One's taking money, the other's giving it.
You didnt read the post, much less the article. Why am I not surprised?
The "tax" here is the higher costs passed on to consumers, who are predominantly lower income.
 

Siete

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Why am I not surprised a conservative doesn't understand math?

A tax is taking money away from people.

Pay/compensation is giving money to people for doing work.

Get it? One's taking money, the other's giving it.
You didnt read the post, much less the article. Why am I not surprised?
The "tax" here is the higher costs passed on to consumers, who are predominantly lower income.
and you're a tax on humanity forcing others to suffer your stupidity.

"next"
 
OP
The Rabbi

The Rabbi

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Why am I not surprised a conservative doesn't understand math?

A tax is taking money away from people.

Pay/compensation is giving money to people for doing work.

Get it? One's taking money, the other's giving it.
You didnt read the post, much less the article. Why am I not surprised?
The "tax" here is the higher costs passed on to consumers, who are predominantly lower income.
and you're a tax on humanity forcing others to suffer your stupidity.

"next"
Typically informed,engaged response.
You'ev already revealed yourself as a waste of DNA on this site.
 

kaz

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Why am I not surprised a conservative doesn't understand math?

A tax is taking money away from people.

Pay/compensation is giving money to people for doing work.

Get it? One's taking money, the other's giving it.
LOL, didn't grasp the article, did you? That you couldn't address what it said demonstrates that clearly.

McDonald's for example outside poor areas already pay over minimum wage. The majority of recipients of minimum wage are in poor areas. Poor areas which turn around and pay higher prices to go out to support higher wages. You don't get how that's a tax on them?
 

hadit

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Let's solve this minimum wage carp once and for all and set it to $50/hour. That way, we'll eliminate poverty and everyone will be rich. Of course, we'll have to follow it up by raising it to $100/hr 24 months later just to keep pace with inflation.
 

kaz

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Yes, just imagine all the jobs they could have here for the buck fifty a day they get in China? Paradise...
The big lie of the minimum wage is that it gets anyone any raise other than in the ultra short term. None pays $7.25 for an employee who is worth $5. It just prevents them from working. How liberal of you...
 

Lakhota

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Why am I not surprised a conservative doesn't understand math?

A tax is taking money away from people.

Pay/compensation is giving money to people for doing work.

Get it? One's taking money, the other's giving it.
You didnt read the post, much less the article. Why am I not surprised?
The "tax" here is the higher costs passed on to consumers, who are predominantly lower income.
Don't we assume they also received a minimum wage increase?
 

Luddly Neddite

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Let's solve this minimum wage carp once and for all and set it to $50/hour. That way, we'll eliminate poverty and everyone will be rich. Of course, we'll have to follow it up by raising it to $100/hr 24 months later just to keep pace with inflation.

Interestingly, RWs also don't understand what would happen if they got their way and ended minimum wage.
 

hadit

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Let's solve this minimum wage carp once and for all and set it to $50/hour. That way, we'll eliminate poverty and everyone will be rich. Of course, we'll have to follow it up by raising it to $100/hr 24 months later just to keep pace with inflation.

Interestingly, RWs also don't understand what would happen if they got their way and ended minimum wage.
Ever hear of "jobs Americans won't do"?

And how does that relate to eliminating poverty by simply raising the MW to very high levels? The answer, of course, is that it illustrates the reality the the MW DOES impact jobs and prices, and is why we can never raise it high enough to eliminate poverty.
 
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The Rabbi

The Rabbi

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Why am I not surprised a conservative doesn't understand math?

A tax is taking money away from people.

Pay/compensation is giving money to people for doing work.

Get it? One's taking money, the other's giving it.
You didnt read the post, much less the article. Why am I not surprised?
The "tax" here is the higher costs passed on to consumers, who are predominantly lower income.
Don't we assume they also received a minimum wage increase?
Yes, we do. That is PRECISELY the point! You didnt read the article.
The point is EXACTLY that the rise in the min wage does NOT off set the higher prices the same workers must pay as consumers.
 
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The Rabbi

The Rabbi

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Let's solve this minimum wage carp once and for all and set it to $50/hour. That way, we'll eliminate poverty and everyone will be rich. Of course, we'll have to follow it up by raising it to $100/hr 24 months later just to keep pace with inflation.

Interestingly, RWs also don't understand what would happen if they got their way and ended minimum wage.
No. Left whiners dont understand what would happen. They think everyone would start working for 25cents/hr. It clearly isnt so.
 

hazlnut

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From today's WSJ, Prof Macurdy shows that raising the min wage is really a tax on the poor, not a benefit to them. Among supprising findings, min wage workers exist across the household income spectrum. So Dad is a lawyer, mom is a dental tech and junior works min wage at Mickey D's. That's just as often as any other scenario. The crux here is higher min wages create higher prices, and since those higher prices disproportiantely affect the poor it is a tax on them, while min wage is spread evenly through the socio economic strata. Of course the Dims wont get this and will claim...well, you'll see.
Thomas MaCurdy The Minimum-Wage Stealth Tax on the Poor - WSJ

FALSE - Companies could just cut their CEO's and VP salaries and bonus packages.

Dipshit.
 
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The Rabbi

The Rabbi

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From today's WSJ, Prof Macurdy shows that raising the min wage is really a tax on the poor, not a benefit to them. Among supprising findings, min wage workers exist across the household income spectrum. So Dad is a lawyer, mom is a dental tech and junior works min wage at Mickey D's. That's just as often as any other scenario. The crux here is higher min wages create higher prices, and since those higher prices disproportiantely affect the poor it is a tax on them, while min wage is spread evenly through the socio economic strata. Of course the Dims wont get this and will claim...well, you'll see.
Thomas MaCurdy The Minimum-Wage Stealth Tax on the Poor - WSJ

FALSE - Companies could just cut their CEO's and VP salaries and bonus packages.

Dipshit.
FALSE.
No they could not, asshole.
 

hadit

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From today's WSJ, Prof Macurdy shows that raising the min wage is really a tax on the poor, not a benefit to them. Among supprising findings, min wage workers exist across the household income spectrum. So Dad is a lawyer, mom is a dental tech and junior works min wage at Mickey D's. That's just as often as any other scenario. The crux here is higher min wages create higher prices, and since those higher prices disproportiantely affect the poor it is a tax on them, while min wage is spread evenly through the socio economic strata. Of course the Dims wont get this and will claim...well, you'll see.
Thomas MaCurdy The Minimum-Wage Stealth Tax on the Poor - WSJ

FALSE - Companies could just cut their CEO's and VP salaries and bonus packages.

Dipshit.
And for a large company, that would help the little guy very little indeed. Then the company would be unable to attract top talent to run it and it would fold.
 

NYcarbineer

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From today's WSJ, Prof Macurdy shows that raising the min wage is really a tax on the poor, not a benefit to them. Among supprising findings, min wage workers exist across the household income spectrum. So Dad is a lawyer, mom is a dental tech and junior works min wage at Mickey D's. That's just as often as any other scenario. The crux here is higher min wages create higher prices, and since those higher prices disproportiantely affect the poor it is a tax on them, while min wage is spread evenly through the socio economic strata. Of course the Dims wont get this and will claim...well, you'll see.
Thomas MaCurdy The Minimum-Wage Stealth Tax on the Poor - WSJ
So where in the world are the poor better off because there's no minimum wage?
 

NYcarbineer

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I love it when the rich bastards running the Wall Street Journal pontificate about what's best for the poor.
 

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