What would happen to the economy if minimum wages are raised?

[danielpalos]

Workers push for minimum wage to be raised (ethical or unethical)?

What would happen if the government and employers cooperate to boost the minimum wage to say, a very high figure. What would happen to the economy in the short and long run

You are paid due to your skill and what the market will bear. Artificially increasing wages will raise the price of the product you produce. This will bankrupt the company you work for and then you are in the unemployment line again.

Not if everyone made 15 bucks minimum wage, take from the top and spread it around. They will have no choice. Time to create a smaller class divide.

This is delusional. Prices and wages aren't determined by government. When we try to use regulations to dictate prices and wages, the market just flows around them and rebalances to adjust. The reason some jobs don't pay a 'living wage' is because WE - you and I - don't value them very much. That can't be changed by mandate.

Yes, they are. It is just right wing fantasy that government rules and regulations, don't add cost and value to any First World.

Are you, by any chance, into Essential Oils?

i could be, if the price is right, under any form of capitalism.

 

[dblack]

You are paid due to your skill and what the market will bear. Artificially increasing wages will raise the price of the product you produce. This will bankrupt the company you work for and then you are in the unemployment line again.

Not if everyone made 15 bucks minimum wage, take from the top and spread it around. They will have no choice. Time to create a smaller class divide.

This is delusional. Prices and wages aren't determined by government. When we try to use regulations to dictate prices and wages, the market just flows around them and rebalances to adjust. The reason some jobs don't pay a 'living wage' is because WE - you and I - don't value them very much. That can't be changed by mandate.

Yes, they are. It is just right wing fantasy that government rules and regulations, don't add cost and value to any First World.

Are you, by any chance, into Essential Oils?

i could be, if the price is right, under any form of capitalism.

You forgot to capitalize 'Form'.

 

[hadit]

That's not specific. That's wishful thinking. You do know, don't you, that efficiency gains mean each employee does more without costing the company more, ie, getting paid more?

Try again, and this time be specific.

Any more specific and i may have to charge you for it. It is about realizing gains from efficiency. Any process can be improved.

The company operates on a 3% profit margin and you want to double their labor costs and think they can pay for it with efficiency gains. I can see that math and economics are not among your strengths.

Now, do you want to force the business owner to double his labor costs BEFORE the efficiency gains kick in, or do the gains kick in first, which allows the owner to make enough more money to double his workers' pay? These are the kinds of specifics that need to be worked out if you want any credibility.

Henry Ford did it. I can see being a Capitalist, is not your strength.

Henry Ford did it because he was selling an extremely hot new product that everyone wanted and was making money hand over fist. He could AFFORD to do it. The same thing happened during the dot com boom. There were companies fighting over qualified IT workers. You're really not very good at this, are you?

Now, answer the question, do you want to force the business owner to double his labor costs BEFORE the efficiency gains kick in, or do the gains kick in first, which allows the owner to make enough more money to double his workers' pay? Also, since you clearly have no idea what you're talking about, how does doubling worker pay result in doubled efficiency? I know it's probably impossible for you, but be specific.

Henry Ford was a capitalist who knew how to capitalize on his investment by increasing efficiency and paying efficiency wages.

How was he able to do it?

 

[danielpalos]

Any more specific and i may have to charge you for it. It is about realizing gains from efficiency. Any process can be improved.

The company operates on a 3% profit margin and you want to double their labor costs and think they can pay for it with efficiency gains. I can see that math and economics are not among your strengths.

Now, do you want to force the business owner to double his labor costs BEFORE the efficiency gains kick in, or do the gains kick in first, which allows the owner to make enough more money to double his workers' pay? These are the kinds of specifics that need to be worked out if you want any credibility.

Henry Ford did it. I can see being a Capitalist, is not your strength.

Henry Ford did it because he was selling an extremely hot new product that everyone wanted and was making money hand over fist. He could AFFORD to do it. The same thing happened during the dot com boom. There were companies fighting over qualified IT workers. You're really not very good at this, are you?

Now, answer the question, do you want to force the business owner to double his labor costs BEFORE the efficiency gains kick in, or do the gains kick in first, which allows the owner to make enough more money to double his workers' pay? Also, since you clearly have no idea what you're talking about, how does doubling worker pay result in doubled efficiency? I know it's probably impossible for you, but be specific.

Henry Ford was a capitalist who knew how to capitalize on his investment by increasing efficiency and paying efficiency wages.

How was he able to do it?

by realizing gains from efficiency, through an efficiency wage.

 

[hadit]

The company operates on a 3% profit margin and you want to double their labor costs and think they can pay for it with efficiency gains. I can see that math and economics are not among your strengths.

Now, do you want to force the business owner to double his labor costs BEFORE the efficiency gains kick in, or do the gains kick in first, which allows the owner to make enough more money to double his workers' pay? These are the kinds of specifics that need to be worked out if you want any credibility.

Henry Ford did it. I can see being a Capitalist, is not your strength.

Henry Ford did it because he was selling an extremely hot new product that everyone wanted and was making money hand over fist. He could AFFORD to do it. The same thing happened during the dot com boom. There were companies fighting over qualified IT workers. You're really not very good at this, are you?

Now, answer the question, do you want to force the business owner to double his labor costs BEFORE the efficiency gains kick in, or do the gains kick in first, which allows the owner to make enough more money to double his workers' pay? Also, since you clearly have no idea what you're talking about, how does doubling worker pay result in doubled efficiency? I know it's probably impossible for you, but be specific.

Henry Ford was a capitalist who knew how to capitalize on his investment by increasing efficiency and paying efficiency wages.

How was he able to do it?

by realizing gains from efficiency, through an efficiency wage.

Again, which comes first, doubled worker pay or doubled productivity?

 

[KissMy]

A Domino's Pizza Worker makes, cuts & boxes 240 Pizzas an hour for $8/hr. That's 3 cents worth of labor in a $10+ pizza. Robots can't make pizza any cheaper than 3 cents each. Domino's Pizza made $2.22 billion in 2015 an the backs of it's hard working underpaid workers!

 

[KissMy]

GOP approves the killing of over 50,000 hard working US citizens a year. Just Look the names the GOP call all those hard working US citizens that dare complain!

 

[KissMy]

GOP enables Big Tobacco!

Smoking causes 1 in every 5 deaths in the U.S. every year!

 

[Slashsnake]

A Domino's Pizza Worker makes, cuts & boxes 240 Pizzas an hour for $8/hr. That's 3 cents worth of labor in a $10+ pizza. Robots can't make pizza any cheaper than 3 cents each. Domino's Pizza made $2.22 billion in 2015 an the backs of it's hard working underpaid workers!

Domino's Pizza would be lucky to sell 240 pizzas a day at most of their locations yet alone an hour. Besides, many pizzas at Domino's are like $5.99 or $7.99, not $10+ like you say. Live in the real world and not la-la land.

 

[KissMy]

A Domino's Pizza Worker makes, cuts & boxes 240 Pizzas an hour for $8/hr. That's 3 cents worth of labor in a $10+ pizza. Robots can't make pizza any cheaper than 3 cents each. Domino's Pizza made $2.22 billion in 2015 an the backs of it's hard working underpaid workers!

Domino's Pizza would be lucky to sell 240 pizzas a day at most of their locations yet alone an hour. Besides, many pizzas at Domino's are like $5.99 or $7.99, not $10+ like you say. Live in the real world and not la-la land.

On a typical Saturday Night there are usually about 400 pizza orders on the board at one time in a typical location. They will make about 2,000 pizzas on a Saturday Night.

 

[danielpalos]

Henry Ford did it. I can see being a Capitalist, is not your strength.

Henry Ford did it because he was selling an extremely hot new product that everyone wanted and was making money hand over fist. He could AFFORD to do it. The same thing happened during the dot com boom. There were companies fighting over qualified IT workers. You're really not very good at this, are you?

Now, answer the question, do you want to force the business owner to double his labor costs BEFORE the efficiency gains kick in, or do the gains kick in first, which allows the owner to make enough more money to double his workers' pay? Also, since you clearly have no idea what you're talking about, how does doubling worker pay result in doubled efficiency? I know it's probably impossible for you, but be specific.

Henry Ford was a capitalist who knew how to capitalize on his investment by increasing efficiency and paying efficiency wages.

How was he able to do it?

by realizing gains from efficiency, through an efficiency wage.

Again, which comes first, doubled worker pay or doubled productivity?

Henry Ford doubled autoworker wages, not minimum wages, and realized gains from productivity. He did not make the poor lifestyle choice of waiting for government to double minimum wages but not autoworker wages.

 

[dblack]

A Domino's Pizza Worker makes, cuts & boxes 240 Pizzas an hour for $8/hr. That's 3 cents worth of labor in a $10+ pizza. Robots can't make pizza any cheaper than 3 cents each. Domino's Pizza made $2.22 billion in 2015 an the backs of it's hard working underpaid workers!

So your solution is to ban their jobs?

 

[hadit]

Henry Ford did it because he was selling an extremely hot new product that everyone wanted and was making money hand over fist. He could AFFORD to do it. The same thing happened during the dot com boom. There were companies fighting over qualified IT workers. You're really not very good at this, are you?

Now, answer the question, do you want to force the business owner to double his labor costs BEFORE the efficiency gains kick in, or do the gains kick in first, which allows the owner to make enough more money to double his workers' pay? Also, since you clearly have no idea what you're talking about, how does doubling worker pay result in doubled efficiency? I know it's probably impossible for you, but be specific.

Henry Ford was a capitalist who knew how to capitalize on his investment by increasing efficiency and paying efficiency wages.

How was he able to do it?

by realizing gains from efficiency, through an efficiency wage.

Again, which comes first, doubled worker pay or doubled productivity?

Henry Ford doubled autoworker wages, not minimum wages, and realized gains from productivity. He did not make the poor lifestyle choice of waiting for government to double minimum wages but not autoworker wages.

IOW, what I said is true. Ford doubled his workers' wages because he could afford to do so. Now, I know it's impossible for you to deal with anything specific that exists in the real world, but I do it all the time. So, back to reality. How is a company that operates on a 3% profit margin going to double worker pay?

 

[danielpalos]

A Domino's Pizza Worker makes, cuts & boxes 240 Pizzas an hour for $8/hr. That's 3 cents worth of labor in a $10+ pizza. Robots can't make pizza any cheaper than 3 cents each. Domino's Pizza made $2.22 billion in 2015 an the backs of it's hard working underpaid workers!

So your solution is to ban their jobs?

Where did you get that? Are you implying the capitalist who owns that venture, wants to stop making money so he can go on welfare, to pay even less in taxes.

 

[danielpalos]

Henry Ford was a capitalist who knew how to capitalize on his investment by increasing efficiency and paying efficiency wages.

How was he able to do it?

by realizing gains from efficiency, through an efficiency wage.

Again, which comes first, doubled worker pay or doubled productivity?

Henry Ford doubled autoworker wages, not minimum wages, and realized gains from productivity. He did not make the poor lifestyle choice of waiting for government to double minimum wages but not autoworker wages.

IOW, what I said is true. Ford doubled his workers' wages because he could afford to do so. Now, I know it's impossible for you to deal with anything specific that exists in the real world, but I do it all the time. So, back to reality. How is a company that operates on a 3% profit margin going to double worker pay?

Yes, he realized gains from efficiency; it was that form of competition with his rival automakers.

 

[hadit]

A Domino's Pizza Worker makes, cuts & boxes 240 Pizzas an hour for $8/hr. That's 3 cents worth of labor in a $10+ pizza. Robots can't make pizza any cheaper than 3 cents each. Domino's Pizza made $2.22 billion in 2015 an the backs of it's hard working underpaid workers!

So your solution is to ban their jobs?

Where did you get that? Are you implying the capitalist who owns that venture, wants to stop making money so he can go on welfare, to pay even less in taxes.

Jacking the MW up higher than the cost of doing the job with automation effectively kills the job. Thinking people understand that. Why do you think you no longer have a teenager come out of the gas station, pump your gas, check your water, oil, and the air in your tires? It's cheaper to put a pump out there for you to pump your own gas and make you responsible to check all the other stuff yourself. That's exactly what's going to happen to other jobs if you jack the MW to $15/hr. You seem to think that would result in a bunch of people suddenly getting a huge raise in their low skill, repetitive, manual labor job. Not so. It would result in a bunch of people first getting cut back to part time, then seeing their jobs replaced by a fleet of robots that work around the clock, never take vacation or sick time, and don't have bad attitudes.

 

[hadit]

How was he able to do it?

by realizing gains from efficiency, through an efficiency wage.

Again, which comes first, doubled worker pay or doubled productivity?

Henry Ford doubled autoworker wages, not minimum wages, and realized gains from productivity. He did not make the poor lifestyle choice of waiting for government to double minimum wages but not autoworker wages.

IOW, what I said is true. Ford doubled his workers' wages because he could afford to do so. Now, I know it's impossible for you to deal with anything specific that exists in the real world, but I do it all the time. So, back to reality. How is a company that operates on a 3% profit margin going to double worker pay?

Yes, he realized gains from efficiency; it was that form of competition with his rival automakers.

How is a company that operates on a 3% profit margin going to double worker pay? You seem to think that's a corporate ideal and that every company should follow suit, so how are they going to do it? Again, be specific.

 

[danielpalos]

A Domino's Pizza Worker makes, cuts & boxes 240 Pizzas an hour for $8/hr. That's 3 cents worth of labor in a $10+ pizza. Robots can't make pizza any cheaper than 3 cents each. Domino's Pizza made $2.22 billion in 2015 an the backs of it's hard working underpaid workers!

So your solution is to ban their jobs?

Where did you get that? Are you implying the capitalist who owns that venture, wants to stop making money so he can go on welfare, to pay even less in taxes.

Jacking the MW up higher than the cost of doing the job with automation effectively kills the job. Thinking people understand that. Why do you think you no longer have a teenager come out of the gas station, pump your gas, check your water, oil, and the air in your tires? It's cheaper to put a pump out there for you to pump your own gas and make you responsible to check all the other stuff yourself. That's exactly what's going to happen to other jobs if you jack the MW to $15/hr. You seem to think that would result in a bunch of people suddenly getting a huge raise in their low skill, repetitive, manual labor job. Not so. It would result in a bunch of people first getting cut back to part time, then seeing their jobs replaced by a fleet of robots that work around the clock, never take vacation or sick time, and don't have bad attitudes.

It is why we need unemployment compensation at fourteen dollars an hour, to promote the general welfare and the general prosperity.

 

[danielpalos]

by realizing gains from efficiency, through an efficiency wage.

Again, which comes first, doubled worker pay or doubled productivity?

Henry Ford doubled autoworker wages, not minimum wages, and realized gains from productivity. He did not make the poor lifestyle choice of waiting for government to double minimum wages but not autoworker wages.

IOW, what I said is true. Ford doubled his workers' wages because he could afford to do so. Now, I know it's impossible for you to deal with anything specific that exists in the real world, but I do it all the time. So, back to reality. How is a company that operates on a 3% profit margin going to double worker pay?

Yes, he realized gains from efficiency; it was that form of competition with his rival automakers.

How is a company that operates on a 3% profit margin going to double worker pay? You seem to think that's a corporate ideal and that every company should follow suit, so how are they going to do it? Again, be specific.

Henry Ford was able to advance that capital realization; some of his competition was not. it is capitalism.

 

[hadit]

A Domino's Pizza Worker makes, cuts & boxes 240 Pizzas an hour for $8/hr. That's 3 cents worth of labor in a $10+ pizza. Robots can't make pizza any cheaper than 3 cents each. Domino's Pizza made $2.22 billion in 2015 an the backs of it's hard working underpaid workers!

So your solution is to ban their jobs?

Where did you get that? Are you implying the capitalist who owns that venture, wants to stop making money so he can go on welfare, to pay even less in taxes.

Jacking the MW up higher than the cost of doing the job with automation effectively kills the job. Thinking people understand that. Why do you think you no longer have a teenager come out of the gas station, pump your gas, check your water, oil, and the air in your tires? It's cheaper to put a pump out there for you to pump your own gas and make you responsible to check all the other stuff yourself. That's exactly what's going to happen to other jobs if you jack the MW to $15/hr. You seem to think that would result in a bunch of people suddenly getting a huge raise in their low skill, repetitive, manual labor job. Not so. It would result in a bunch of people first getting cut back to part time, then seeing their jobs replaced by a fleet of robots that work around the clock, never take vacation or sick time, and don't have bad attitudes.

It is why we need unemployment compensation at fourteen dollars an hour, to promote the general welfare and the general prosperity.

Correction, you want WELFARE at $14/hr. It's not UE when you leave a job because you don't want to work any more. And, be honest. You know very well that a guaranteed universal income of $14/hr would stay at that level about as long as it took to vote on it. The slackers would be demanding big increases immediately when they noticed that those who still had jobs and worked hard at them had more stuff.