The next minimum wage rate bill

[Toddsterpatriot]

The "dismal picture" was me posting from the CBO report that you linked.

ToddsterPatriot, referring to How Increasing the Federal Minimum Wage Could Affect Employment and Family Income | Congressional Budget Office (cbo.gov) How Increasing the Federal Minimum Wage Could Affect Employment and Family Income | Congressional Budget Office (cbo.gov) , “Raise the Wage Act, as passed” option, graph of “Average Percentage Change in Real Family Income, by Income Group”:
The graph indicates only 2025 highest income families are projected to experience any net reductions of real family total incomes (rather total wages). Those incomes are reduced by less than 1/5 of a percent. All other family total incomes are increased or materially unaffected. Additionally, the CBO projects a reduction of USA's families at or below their poverty thresholds.

I consider the CBO's projection to be of the act's net improvement to USA's economic and social wellbeing; you believe otherwise. Respectfully, Supposn

I consider the CBO's projection to be of the act's net improvement to USA's economic and social wellbeing;

The Effects on Employment and Family Income of Increasing the Federal Minimum Wage (cbo.gov)

Page 2......

Higher rates of joblessness, that's a negative.

Reduce business income.
Higher prices.
That's two negatives.

Reduce the nations output. Negative.

Decline in the nation’s stock of capital. Negative.

Reduce total real (inflation-adjusted) family income.

Total real family income. That's a negative.

Higher rates of joblessness, reduced business income, higher prices, lower national output,
less national capital and lower total real family income.

Yeah, that's a hell of a net improvement.

 

[Supposn]

ToddsterPatriot, CBO projects the $15 option would affect family income in a variety of ways. In CBO’s estimation, it would: “Boost workers’ earnings through higher wages, though some of those higher earnings would be offset by higher rates of joblessness”. But the CBO also reports increased income purchasing powers for the majority of wage-earning families and apparently for the overwhelming wage portions of those families. Higher wage-earning families are projected in aggregate to not experience any net reduction of their incomes’ purchasing powers; but the highest income families are projected to experience losses of their incomes purchasing powers. Reductions for as much as 1/3 of a percent of their families’ entire incomes’ purchasing powers are projected for those highest income families.

To the extent of its purchasing power, the federal minimum wage rate reduces incidences and extents of poverty among the working poor.

CBO projects reductions of families at or below their family sizes’ poverty due to Increases of the federal minimum wage rate; but those reported projections are comparatively little because they’re net increases total incomes rather than only of wages. Apparently, CBO is projecting public assistance and unemployment insurance being replaced by wage incomes.

The CBO's reports regarding the proposed "Raise the Wage" act is of an act that would be of net economic and social benefit to our nation. Of course, you do not accept any of this as reasonable. Respectfully, Supposn

 

[Wyatt earp]

ToddsterPatriot, CBO projects the $15 option would affect family income in a variety of ways. In CBO’s estimation, it would: “Boost workers’ earnings through higher wages, though some of those higher earnings would be offset by higher rates of joblessness”. But the CBO also reports increased income purchasing powers for the majority of wage-earning families and apparently for the overwhelming wage portions of those families. Higher wage-earning families are projected in aggregate to not experience any net reduction of their incomes’ purchasing powers; but the highest income families are projected to experience losses of their incomes purchasing powers. Reductions for as much as 1/3 of a percent of their families’ entire incomes’ purchasing powers are projected for those highest income families.

To the extent of its purchasing power, the federal minimum wage rate reduces incidences and extents of poverty among the working poor.

CBO projects reductions of families at or below their family sizes’ poverty due to Increases of the federal minimum wage rate; but those reported projections are comparatively little because they’re net increases total incomes rather than only of wages. Apparently, CBO is projecting public assistance and unemployment insurance being replaced by wage incomes.

The CBO's reports regarding the proposed "Raise the Wage" act is of an act that would be of net economic and social benefit to our nation. Of course, you do not accept any of this as reasonable. Respectfully, Supposn

Its just $15 an hour , it's still minimum wage for like 40% of the workers instead of 3% of workers .


It's pure communism.

 

[Supposn]

It's pure communism.

Bear513, every major nation has something similar to, or performs the function of USA’s minimum wage rate. Regardless of their economic policies, they all perceived the need for such government or quasi-government provisions within their nations. Opposition to USA’s definite legally enforced minimum wage rates are not due to economic considerations, but rather to persons’ lack of decency, (i.e. faults of character). Supposn

Minimum wage is an issue of character. [That's] The essence of personal and political opposition to the FMW rate.

The federal minimum wage, (FMW) rate is of net social and economic benefit to our nation. It has never been among the major causes of the U.S. dollar’s inflation; on the contrary, it’s certainly among inflations’ victims.
No employees are poorer and no enterprises suffer any competitive disadvantage to any USA enterprises due to the FMW rate. … I suppose most USA’s population, (significantly more than a 10% plurality) to some extent approve of federal minimum rate’s existence. There are few among wealthy or competent people that are opposed to the federal minimum rate.

A great proportion of minimum rate opponents lack self-esteem. They need whatever affirmation of their own worth that they can derive by being able to look down upon people experiencing lesser financial conditions. They cannot acknowledge even to themselves their fears of improving the financial conditions of others would consequentially reduce their own social status. That’s the essence of personal and political opposition to the FMW rate. ...

 

[Toddsterpatriot]

ToddsterPatriot, CBO projects the $15 option would affect family income in a variety of ways. In CBO’s estimation, it would: “Boost workers’ earnings through higher wages, though some of those higher earnings would be offset by higher rates of joblessness”. But the CBO also reports increased income purchasing powers for the majority of wage-earning families and apparently for the overwhelming wage portions of those families. Higher wage-earning families are projected in aggregate to not experience any net reduction of their incomes’ purchasing powers; but the highest income families are projected to experience losses of their incomes purchasing powers. Reductions for as much as 1/3 of a percent of their families’ entire incomes’ purchasing powers are projected for those highest income families.

To the extent of its purchasing power, the federal minimum wage rate reduces incidences and extents of poverty among the working poor.

CBO projects reductions of families at or below their family sizes’ poverty due to Increases of the federal minimum wage rate; but those reported projections are comparatively little because they’re net increases total incomes rather than only of wages. Apparently, CBO is projecting public assistance and unemployment insurance being replaced by wage incomes.

The CBO's reports regarding the proposed "Raise the Wage" act is of an act that would be of net economic and social benefit to our nation. Of course, you do not accept any of this as reasonable. Respectfully, Supposn

But the CBO also reports increased income purchasing powers for the majority of wage-earning families and apparently for the overwhelming wage portions of those families.

But the CBO also reports net income purchasing powers for all wage-earning families declines by 0.1%. And national output (GDP) also declines.

Fewer jobs, higher prices, lower output.......you're really convincing me here.

Apparently, CBO is projecting public assistance and unemployment insurance being replaced by wage incomes.

You've claimed that before, but haven't shown where the CBO says that.

The CBO's reports regarding the proposed "Raise the Wage" act is of an act that would be of net economic and social benefit to our nation.

They don't say that. Net benefit would mean higher output, not lower, higher employment, not lower and it wouldn't mean a reduction in total family income.

When total family income drops that's not a net benefit.
The best you could say is it's a benefit for some people, at the low end of the earnings scale, as long as it doesn't cost you your job. Then it wouldn't be a benefit.
And for almost everyone else, including business owners, it's also not a benefit.

Of course, you do not accept any of this as reasonable.

Exactly, I do not accept your faulty interpretation as reasonable.

 

[Supposn]

ToddsterPatriot, the majority of USA’s voters, (exceeding 10% more than remaining U.S. voters, all consider the concept of a legally enforced minimum wage rate as reasonable. The overwhelming majority of Democratic partisans, and a good portion of Republican partisans, and the majority of the U.S. Congressional house chamber, all consider the concept of minimum wage rate as reasonable.
I’m not surprised that your opinion is contrary to all of theirs.

The U.S. Congressional Budget Office’s reports regarding the proposed “Raise the Wage” act describes an act that would be net beneficial to our nation’s economic and social wellbeing.
I’m not surprised that you believe otherwise.

Opposition to the concept of a legally enforced minimum wage rates are not due to economic considerations, but rather to persons’ lack of decency, (i.e. faults of character). I regret you’re opposed to a minimum wage rate. Supposn

 

[Toddsterpatriot]

ToddsterPatriot, the majority of USA’s voters, (exceeding 10% more than remaining U.S. voters, all consider the concept of a legally enforced minimum wage rate as reasonable. The overwhelming majority of Democratic partisans, and a good portion of Republican partisans, and the majority of the U.S. Congressional house chamber, all consider the concept of minimum wage rate as reasonable.
I’m not surprised that your opinion is contrary to all of theirs.

The U.S. Congressional Budget Office’s reports regarding the proposed “Raise the Wage” act describes an act that would be net beneficial to our nation’s economic and social wellbeing.
I’m not surprised that you believe otherwise.

Opposition to the concept of a legally enforced minimum wage rates are not due to economic considerations, but rather to persons’ lack of decency, (i.e. faults of character). I regret you’re opposed to a minimum wage rate. Supposn

the majority of USA’s voters, (exceeding 10% more than remaining U.S. voters, all consider the concept of a legally enforced minimum wage rate as reasonable.

Just because some percentage of people think something is reasonable doesn't make it a net benefit.

I’m not surprised that your opinion is contrary to all of theirs.

I'm not surprised that I know more about economics than most in Congress. Are you?

The U.S. Congressional Budget Office’s reports regarding the proposed “Raise the Wage” act describes an act that would be net beneficial to our nation’s economic and social wellbeing.

You can keep repeating your claim, but the CBO disagrees.
Of course, you can refute my claim by showing where, in one of those CBO reports, it says "this increase is a net benefit"....or words to that effect.

Opposition to the concept of a legally enforced minimum wage rates are not due to economic considerations, but rather to persons’ lack of decency, (i.e. faults of character). I regret you’re opposed to a minimum wage rate.

I regret you're an ignorant, whiny twat.......I'll survive.

 

[Wyatt earp]

It's pure communism.

Bear513, every major nation has something similar to, or performs the function of USA’s minimum wage rate. Regardless of their economic policies, they all perceived the need for such government or quasi-government provisions within their nations. Opposition to USA’s definite legally enforced minimum wage rates are not due to economic considerations, but rather to persons’ lack of decency, (i.e. faults of character). Supposn

Minimum wage is an issue of character. [That's] The essence of personal and political opposition to the FMW rate.

The federal minimum wage, (FMW) rate is of net social and economic benefit to our nation. It has never been among the major causes of the U.S. dollar’s inflation; on the contrary, it’s certainly among inflations’ victims.
No employees are poorer and no enterprises suffer any competitive disadvantage to any USA enterprises due to the FMW rate. … I suppose most USA’s population, (significantly more than a 10% plurality) to some extent approve of federal minimum rate’s existence. There are few among wealthy or competent people that are opposed to the federal minimum rate.

A great proportion of minimum rate opponents lack self-esteem. They need whatever affirmation of their own worth that they can derive by being able to look down upon people experiencing lesser financial conditions. They cannot acknowledge even to themselves their fears of improving the financial conditions of others would consequentially reduce their own social status. That’s the essence of personal and political opposition to the FMW rate. ...

For one germany she got a minimum wage law a few years ago and they where fine without it.

 

[Supposn]

For one germany she got a minimum wage law a few years ago and they where fine without it.

Bear513, if it was fine, why did Germany change it? If the voters are displeased with it, why haven’t they demanded its repeal? Respectfully, Supposn

 

[Wyatt earp]

For one germany she got a minimum wage law a few years ago and they where fine without it.

Bear513, if it was fine, why did Germany change it? If the voters are displeased with it, why haven’t they demanded its repeal? Respectfully, Supposn

Because of the socialist party from wiki..


Besides, a study of the German Institute for Economic Research showed that the minimum wage increased the hourly wage, but not the total income of people who work in the low-wage sector. Since hourly wages increased slightly, working hours decreased simultaneously to offset higher costs.[7]

 

[Supposn]

[Bear513, German voters weren't able to have their minimum wage laws repealed] ...

Because of the socialist party from wiki..
Besides, a study of the German Institute for Economic Research showed that the minimum wage increased the hourly wage, but not the total income of people who work in the low-wage sector. Since hourly wages increased slightly, working hours decreased simultaneously to offset higher costs.[7]

Bear513, in other words, the proportion of German voters desiring repeal of their minimum wage rate is effectively insufficient?
Democratic republics should abandon conducting political elections; because due to elections, their nations' voters get no lesser government than they deserve?
We deserved and got a President Trump; we deserve and got Donald Trump out of the White House? Respectfully, Supposn[/QUOTE]