The Min Wage is really a tax on the poor

[The Rabbi]

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

The author is a professor of economics. You think he doesnt know what he's talking about?

 

[The Rabbi]

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?

Asia.

 

[NYcarbineer]

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

The author is a professor of economics. You think he doesnt know what he's talking about?

Krugman Demolishes Classic Argument Against Raising Minimum Wage

 

[The Rabbi]

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

The author is a professor of economics. You think he doesnt know what he's talking about?

Krugman Demolishes Classic Argument Against Raising Minimum Wage

Krugman is wrong about virtually every issue he talks about. Thanks for confirming the OP is correct.

 

[NYcarbineer]

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?

Asia.

Name the Asian countries with no minimum wage.

 

[The Rabbi]

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?

Asia.

Name the Asian countries with no minimum wage.

Google is your friend.

 

[NYcarbineer]

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

The author is a professor of economics. You think he doesnt know what he's talking about?

Krugman Demolishes Classic Argument Against Raising Minimum Wage

Krugman is wrong about virtually every issue he talks about. Thanks for confirming the OP is correct.

Your opinion is worthless. You claimed the academic credentials of your idiot were enough to prove him right.

I'm using your argument against you, and you lose. lol. You are such a child.

 

[NYcarbineer]

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?

Asia.

Name the Asian countries with no minimum wage.

Google is your friend.

Your standard answer when you've been fucked by a superior intellect.

 

[NYcarbineer]

The Rabbi cannot find a single example that supports the OP's contention.

Anyone surprised?

 

[CultureCitizen]

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

Would you work for a buck fifty a day?
/next

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

That's kind of a crappy argument.
With a wage of $11 per day not many Americans would be willing to do the work, but many Mexicans would still be better off, because they would earn about 3 times the minimum wage of Mexico, and besdes many jobs have already been offshored to China.
Low wages are a trap in the long run.
Arguably the south had very low wages and the north high ones, which incentivized industrialization. I probably don't have to remind you whose arse got kicked in the end.

Also, it kind of depends on what the company produces and where it produces it.
True , a rise in wage for constructors of a building in the Fifth avenue will probably make the building a bit more expensive, but, I would be amazed if any of the construction workers would be able to buy the condo they have just built.
Classical oversimplification : one size fits all. In real life labour plays a different percentage of the COGS and will not affect goods and services evenly.

 

[OKTexas]

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.

Inflation is a hidden tax, of course the higher payroll and income taxes that will be paid will be right there on the paycheck stub.

 

[The Rabbi]

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

The author is a professor of economics. You think he doesnt know what he's talking about?

Krugman Demolishes Classic Argument Against Raising Minimum Wage

Krugman is wrong about virtually every issue he talks about. Thanks for confirming the OP is correct.

Your opinion is worthless. You claimed the academic credentials of your idiot were enough to prove him right.

I'm using your argument against you, and you lose. lol. You are such a child.

If my opinion is worthless why are you still posting here?
I point out he is a trained economist. His article points to his own research in this area. Please show where is research was faulty. What mistakes did he make? What assumptions were wrong?
You are way out of your depth here, as everywhere else on this site.

 

[The Rabbi]

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?

Asia.

Name the Asian countries with no minimum wage.

Google is your friend.

Your standard answer when you've been fucked by a superior intellect.

How would you know?

 

[The Rabbi]

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

Would you work for a buck fifty a day?
/next

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

That's kind of a crappy argument.
With a wage of $11 per day not many Americans would be willing to do the work, but many Mexicans would still be better off, because they would earn about 3 times the minimum wage of Mexico, and besdes many jobs have already been offshored to China.
Low wages are a trap in the long run.
Arguably the south had very low wages and the north high ones, which incentivized industrialization. I probably don't have to remind you whose arse got kicked in the end.

Also, it kind of depends on what the company produces and where it produces it.
True , a rise in wage for constructors of a building in the Fifth avenue will probably make the building a bit more expensive, but, I would be amazed if any of the construction workers would be able to buy the condo they have just built.
Classical oversimplification : one size fits all. In real life labour plays a different percentage of the COGS and will not affect goods and services evenly.

None of what you wrote was responsive to the OP or the article cited.
None of what you wrote made a lot of sense. Zero is the lowest wage of all. Which is what happens when people are unemployed. Why is unemployment at zero wage better than employment at $5/hr?

 

[Siete]

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

Would you work for a buck fifty a day?
/next

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

That's kind of a crappy argument.
With a wage of $11 per day not many Americans would be willing to do the work, but many Mexicans would still be better off, because they would earn about 3 times the minimum wage of Mexico, and besdes many jobs have already been offshored to China.
Low wages are a trap in the long run.
Arguably the south had very low wages and the north high ones, which incentivized industrialization. I probably don't have to remind you whose arse got kicked in the end.

Also, it kind of depends on what the company produces and where it produces it.
True , a rise in wage for constructors of a building in the Fifth avenue will probably make the building a bit more expensive, but, I would be amazed if any of the construction workers would be able to buy the condo they have just built.
Classical oversimplification : one size fits all. In real life labour plays a different percentage of the COGS and will not affect goods and services evenly.

None of what you wrote was responsive to the OP or the article cited.
None of what you wrote made a lot of sense. Zero is the lowest wage of all. Which is what happens when people are unemployed. Why is unemployment at zero wage better than employment at $5/hr?

why are you an idiot ?

Zero is the lowest wage of all.

Duuuuuuurrrrrrr.

 

[CultureCitizen]

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

Would you work for a buck fifty a day?
/next

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

That's kind of a crappy argument.
With a wage of $11 per day not many Americans would be willing to do the work, but many Mexicans would still be better off, because they would earn about 3 times the minimum wage of Mexico, and besdes many jobs have already been offshored to China.
Low wages are a trap in the long run.
Arguably the south had very low wages and the north high ones, which incentivized industrialization. I probably don't have to remind you whose arse got kicked in the end.

Also, it kind of depends on what the company produces and where it produces it.
True , a rise in wage for constructors of a building in the Fifth avenue will probably make the building a bit more expensive, but, I would be amazed if any of the construction workers would be able to buy the condo they have just built.
Classical oversimplification : one size fits all. In real life labour plays a different percentage of the COGS and will not affect goods and services evenly.

None of what you wrote was responsive to the OP or the article cited.
None of what you wrote made a lot of sense. Zero is the lowest wage of all. Which is what happens when people are unemployed. Why is unemployment at zero wage better than employment at $5/hr?

For many reasons : Below certain level people migh just go for an informal job : e.g selling stuff at a flea market, or going to illegal activities : robbing ,drug trafficking.
Also, public transport is not cheap in the US.How much of those $5 will he have left after paying for transportation?
Many will be better of not working at all than working full turn just to pay for transportation... silly question. That can only be expected of someone who has never earned a minimum wage.

 

[The Rabbi]

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

Would you work for a buck fifty a day?
/next

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

That's kind of a crappy argument.
With a wage of $11 per day not many Americans would be willing to do the work, but many Mexicans would still be better off, because they would earn about 3 times the minimum wage of Mexico, and besdes many jobs have already been offshored to China.
Low wages are a trap in the long run.
Arguably the south had very low wages and the north high ones, which incentivized industrialization. I probably don't have to remind you whose arse got kicked in the end.

Also, it kind of depends on what the company produces and where it produces it.
True , a rise in wage for constructors of a building in the Fifth avenue will probably make the building a bit more expensive, but, I would be amazed if any of the construction workers would be able to buy the condo they have just built.
Classical oversimplification : one size fits all. In real life labour plays a different percentage of the COGS and will not affect goods and services evenly.

None of what you wrote was responsive to the OP or the article cited.
None of what you wrote made a lot of sense. Zero is the lowest wage of all. Which is what happens when people are unemployed. Why is unemployment at zero wage better than employment at $5/hr?

For many reasons : Below certain level people migh just go for an informal job : e.g selling stuff at a flea market, or going to illegal activities : robbing ,drug trafficking.
Also, public transport is not cheap in the US.How much of those $5 will he have left after paying for transportation?
Many will be better of not working at all than working full turn just to pay for transportation... silly question. That can only be expected of someone who has never earned a minimum wage.

Lemme see here: So a 5/hr min wage will cause people to go into illegal activity but a zero/hr unemployment status wont? Are you fucking serious? Do you not understand that lot of inner city crime is created because young men have nothing to do but stand around a street corner?

 

[CultureCitizen]

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

Would you work for a buck fifty a day?
/next

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

That's kind of a crappy argument.
With a wage of $11 per day not many Americans would be willing to do the work, but many Mexicans would still be better off, because they would earn about 3 times the minimum wage of Mexico, and besdes many jobs have already been offshored to China.
Low wages are a trap in the long run.
Arguably the south had very low wages and the north high ones, which incentivized industrialization. I probably don't have to remind you whose arse got kicked in the end.

Also, it kind of depends on what the company produces and where it produces it.
True , a rise in wage for constructors of a building in the Fifth avenue will probably make the building a bit more expensive, but, I would be amazed if any of the construction workers would be able to buy the condo they have just built.
Classical oversimplification : one size fits all. In real life labour plays a different percentage of the COGS and will not affect goods and services evenly.

None of what you wrote was responsive to the OP or the article cited.
None of what you wrote made a lot of sense. Zero is the lowest wage of all. Which is what happens when people are unemployed. Why is unemployment at zero wage better than employment at $5/hr?

For many reasons : Below certain level people migh just go for an informal job : e.g selling stuff at a flea market, or going to illegal activities : robbing ,drug trafficking.
Also, public transport is not cheap in the US.How much of those $5 will he have left after paying for transportation?
Many will be better of not working at all than working full turn just to pay for transportation... silly question. That can only be expected of someone who has never earned a minimum wage.

Lemme see here: So a 5/hr min wage will cause people to go into illegal activity but a zero/hr unemployment status wont? Are you fucking serious? Do you not understand that lot of inner city crime is created because young men have nothing to do but stand around a street corner?

It is probably just as bad as zero. I don't know many Americans who would actually be willing to work for such a wage. On the other hand I know several illegals who were making that amount of money. So what's your plan reducing unemployment for the illegal community ?

 

[Siete]

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

Would you work for a buck fifty a day?
/next

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

That's kind of a crappy argument.
With a wage of $11 per day not many Americans would be willing to do the work, but many Mexicans would still be better off, because they would earn about 3 times the minimum wage of Mexico, and besdes many jobs have already been offshored to China.
Low wages are a trap in the long run.
Arguably the south had very low wages and the north high ones, which incentivized industrialization. I probably don't have to remind you whose arse got kicked in the end.

Also, it kind of depends on what the company produces and where it produces it.
True , a rise in wage for constructors of a building in the Fifth avenue will probably make the building a bit more expensive, but, I would be amazed if any of the construction workers would be able to buy the condo they have just built.
Classical oversimplification : one size fits all. In real life labour plays a different percentage of the COGS and will not affect goods and services evenly.

None of what you wrote was responsive to the OP or the article cited.
None of what you wrote made a lot of sense. Zero is the lowest wage of all. Which is what happens when people are unemployed. Why is unemployment at zero wage better than employment at $5/hr?

For many reasons : Below certain level people migh just go for an informal job : e.g selling stuff at a flea market, or going to illegal activities : robbing ,drug trafficking.
Also, public transport is not cheap in the US.How much of those $5 will he have left after paying for transportation?
Many will be better of not working at all than working full turn just to pay for transportation... silly question. That can only be expected of someone who has never earned a minimum wage.

Lemme see here: So a 5/hr min wage will cause people to go into illegal activity but a zero/hr unemployment status wont? Are you fucking serious? Do you not understand that lot of inner city crime is created because young men have nothing to do but stand around a street corner?

you're an idiot ... those dudes standing on the corner are called Gang members. They steal cars and sell drugs. Hell, the 10 year old riding a $1000 bicycle with an $800 phone in his pocket, watching out for cops in the neighborhood has more $$$ in his shirt pocket than you've ever seen. Min wage tax on the poor my ass.

 

[The Rabbi]

Would you work for a buck fifty a day?
/next

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

That's kind of a crappy argument.
With a wage of $11 per day not many Americans would be willing to do the work, but many Mexicans would still be better off, because they would earn about 3 times the minimum wage of Mexico, and besdes many jobs have already been offshored to China.
Low wages are a trap in the long run.
Arguably the south had very low wages and the north high ones, which incentivized industrialization. I probably don't have to remind you whose arse got kicked in the end.

Also, it kind of depends on what the company produces and where it produces it.
True , a rise in wage for constructors of a building in the Fifth avenue will probably make the building a bit more expensive, but, I would be amazed if any of the construction workers would be able to buy the condo they have just built.
Classical oversimplification : one size fits all. In real life labour plays a different percentage of the COGS and will not affect goods and services evenly.

None of what you wrote was responsive to the OP or the article cited.
None of what you wrote made a lot of sense. Zero is the lowest wage of all. Which is what happens when people are unemployed. Why is unemployment at zero wage better than employment at $5/hr?

For many reasons : Below certain level people migh just go for an informal job : e.g selling stuff at a flea market, or going to illegal activities : robbing ,drug trafficking.
Also, public transport is not cheap in the US.How much of those $5 will he have left after paying for transportation?
Many will be better of not working at all than working full turn just to pay for transportation... silly question. That can only be expected of someone who has never earned a minimum wage.

Lemme see here: So a 5/hr min wage will cause people to go into illegal activity but a zero/hr unemployment status wont? Are you fucking serious? Do you not understand that lot of inner city crime is created because young men have nothing to do but stand around a street corner?

It is probably just as bad as zero. I don't know many Americans who would actually be willing to work for such a wage. On the other hand I know several illegals who were making that amount of money. So what's your plan reducing unemployment for the illegal community ?

"Probably". That means you have no idea.
There are lots of people who would work for that wage. Retirees wanting to get out of the house, 16 yr old kids wanting some clothes money. You name it.
Nice deflection to illegals though. Points for form.