Where are the truth tellers?

[onecut39]

I thought the minimum wage jobs were all in small business being filled by teenagers.

Fooled us again!!

Large, Profitable Companies Employ Most Minimum-Wage Earners

 

[DSGE]

Who cares? Wages aren't, and shouldn't, be determined by capacity to pay. They're determined by productivity and the competitiveness of the labour market.

 

[Widdekind]

one in four American jobs pays less than $10 per hour (26 percent), according to the study. And it’s not just those workers who suffer—big businesses that pay collectively pay millions of workers low wages set a basement for the rest of the wage scale and depress earnings above $10, too.

Above the (Federal) minimum wage, market forces determine wages. Wages are the "price" of labor, reflecting the ratio of demand for, to supply of, workers. Above Government-enforced minimum wages, businesses are paying people what they are (economically, not socially) worth. One business, on the west coast, paying under $10 per hour, does not depress the wages, of somebody on the east coast, earning $20 per hour. Low-pay, low-skill jobs are a different sector of the labor market, than high-pay, high-skill jobs. They are not directly related.

To boost wages, reflecting the ratio of demand for, to supply of, workers; workers would need businesses to want more workers. Eliminating minimum wage laws, that criminalize, outlaw, ban, and prohibit millions of low-pay jobs, would re-legalize those millions of jobs. Businesses would want millions more workers. Business demand for labor would increase. The millions of new hires would not compete for other people's jobs. Re-legalizing low-pay jobs, at low-pay businesses, would increase demand for workers, and (tend to) pump up wages for everybody else.

 

[Rshermr]

one in four American jobs pays less than $10 per hour (26 percent), according to the study. And it’s not just those workers who suffer—big businesses that pay collectively pay millions of workers low wages set a basement for the rest of the wage scale and depress earnings above $10, too.

Above the (Federal) minimum wage, market forces determine wages. Wages are the "price" of labor, reflecting the ratio of demand for, to supply of, workers. Above Government-enforced minimum wages, businesses are paying people what they are (economically, not socially) worth. One business, on the west coast, paying under $10 per hour, does not depress the wages, of somebody on the east coast, earning $20 per hour. Low-pay, low-skill jobs are a different sector of the labor market, than high-pay, high-skill jobs. They are not directly related.

To boost wages, reflecting the ratio of demand for, to supply of, workers; workers would need businesses to want more workers. Eliminating minimum wage laws, that criminalize, outlaw, ban, and prohibit millions of low-pay jobs, would re-legalize those millions of jobs. Businesses would want millions more workers. Business demand for labor would increase. The millions of new hires would not compete for other people's jobs. Re-legalizing low-pay jobs, at low-pay businesses, would increase demand for workers, and (tend to) pump up wages for everybody else.

There you go again, pushing tha tea party dogma. Got proof???

Per the Economic Policy Institute, the top 1% of income earners received 59.9% of income growth from 1979 through 3007, while the lower 90% received 8.6%. And it just keeps getting worse, based on the great reaganomics economy. So, where is that trickle down???

http://www.epi.org/publication/bp331-occupy-wall-street/

We have a problem here, and cons choose to ignore it. Economies who have had this type of economy have always come down, and hard. Study it a bit, and you will understand. But only if your mind is open.

 

[onecut39]

Who cares? Wages aren't, and shouldn't, be determined by capacity to pay. They're determined by productivity and the competitiveness of the labour market.

Wages have nothing to do with "what an employee is worth" or "supply and demand". Those days are gone, perhaps forever or at least until a new labor movement is formed.

Wages, especially those for the low paid represent what the market will bear. In other words the lowest price for which an employer can secure workers.

For the last 30 years we have seen the top ten percent's worth and wages spiral upward while the lower and middle class decline. It is not a case of not having money to pay, itis increasingly who that money is being paid to.

AS I have siad before the class war is over and done. The rich have won as they always will in a society with no compassion or morals. A society that values class more than labor.

 

[California Girl]

I thought the minimum wage jobs were all in small business being filled by teenagers.

Fooled us again!!

Large, Profitable Companies Employ Most Minimum-Wage Earners

Economics doesn't have 'truths'. twit.

 

[onecut39]

I thought the minimum wage jobs were all in small business being filled by teenagers.

Fooled us again!!

Large, Profitable Companies Employ Most Minimum-Wage Earners

Economics doesn't have 'truths'. twit.

Economics is full of truths. Politics is not.

 

[Sallow]

Who cares? Wages aren't, and shouldn't, be determined by capacity to pay. They're determined by productivity and the competitiveness of the labour market.

Except they aren't.

 

[Sallow]

I thought the minimum wage jobs were all in small business being filled by teenagers.

Fooled us again!!

Large, Profitable Companies Employ Most Minimum-Wage Earners

Economics doesn't have 'truths'. twit.

You really are out of your element if you post crapola like that.

 

[Sallow]

Who cares? Wages aren't, and shouldn't, be determined by capacity to pay. They're determined by productivity and the competitiveness of the labour market.

Wages have nothing to do with "what an employee is worth" or "supply and demand". Those days are gone, perhaps forever or at least until a new labor movement is formed.

Wages, especially those for the low paid represent what the market will bear. In other words the lowest price for which an employer can secure workers.

For the last 30 years we have seen the top ten percent's worth and wages spiral upward while the lower and middle class decline. It is not a case of not having money to pay, itis increasingly who that money is being paid to.

AS I have siad before the class war is over and done. The rich have won as they always will in a society with no compassion or morals. A society that values class more than labor.

It's been a slow erosion of the power of labor. It began with companies offering the same benefits to employees that were not in Unions. They then slowly made use of contract employees and H1Bs..to loosen the market. That culminated with off shoring. At least in the IT industry..but I am sure this sort of thing traversed many sectors. That also came along with "Right to Work" laws and Bush's change in overtime rules.

It was slow..but pretty devastating.

Fortunately..remedies for this aren't all that complicated. A modest change in the tax code and H1Bs rules would fix a heck of a lot of problems. But look for a major political fight if any of that stuff is touched.

 

[EdwardBaiamonte]

I thought the minimum wage jobs were all in small business being filled by teenagers.
Fooled us again!!

the subject is economics, but as a liberal you will lack the IQ to understand it.

The liberal position is: why not pass a law to control the price of labor(upward) and for that matter to control the price of everything else
(downward). What a wonderful soviet world it would be!

It didn't work because free market pricing is far more accurate and so produces far more wealth.

 

[EdwardBaiamonte]

It's been a slow erosion of the power of labor. It began with:

libturds inviting 20 million illegals in to get the votes of the larger immigrant community and unions shipping 20 million jobs offshore

 

[expat_panama]

...Wages have nothing to do with "what an employee is worth" or "supply and demand". Those days are gone, perhaps forever or at least until a new labor movement is formed. Wages, especially those for the low paid represent what the market will bear. In other words the lowest price for which an employer can secure workers...

It's a law that's more powerful than employers, even more powerful than governments. The thing is that just because a worker says his labor's worth more pay, if nobody's willing to pay more than his labor is 'worth less'.



Real life. We've simply got to accept it and deal with it.

 

[hortysir]

Who cares? Wages aren't, and shouldn't, be determined by capacity to pay. They're determined by productivity and the competitiveness of the labour market.

They SHOULD be determined that way, but they're not.

If a company CAN hire you at MW, they will, and delay a raise as long as needed to maximize profit

 

[EdwardBaiamonte]

If a company CAN hire you at MW, they will, and delay a raise as long as needed to maximize profit

If a company can raise prices they will do so to maximize profits too.
Competition forces a company to have the highest wages possible and lowest prices possible.

Its way way over a liberal's brain

 

[EdwardBaiamonte]

Wages have nothing to do with "what an employee is worth" or "supply and demand". .

What A-Rod or an illegal are worth is exactly what the market will bear!! The market is based on genius.

The lower the wages the happier we all are since it causes low prices, and the higher prices are the happier we all are because it cause higher wages!

 

[Widdekind]

Per the Economic Policy Institute, the top 1% of income earners received 59.9% of income growth from 1979 through 2007, while the lower 90% received 8.6%. And it just keeps getting worse...

First, from an American perspective, some Americans getting richer is not "bad" or "worse".

Second, denying jobs to unemployed people (by criminalizing those jobs, with minimum wage laws) denies poor people any income at all. Preventing poor people from working, in the low-pay jobs that they would be qualified for (at present), leaves them behind, and only exacerbates any income gap.

It's been a slow erosion of the power of labor. It began with companies offering the same benefits to employees that were not in Unions. They then slowly made use of contract employees and H1Bs..to loosen the market. That culminated with off shoring.

US workers are driving US businesses abroad. Joining international workers brotherhoods, heeding the advice of "foreign friends"... and thereby driving US businesses to foreign countries, is not legitimate.