Canada pays roughly the same prices for goods from China/US/Europe with a minimum wage thats much higher that the current US one. (depending on the province obviously)
Exactly which is why I am saying that should be abolished. They should be making $9.50 an hour too. In many states this has already been abolished, here in Cali the minimum wage for all people is $8 an hour and tip can't go towards it.
Throckmorton
Lifer
- Aug 23, 2007
- 16,829
- 3
- 0
Throckmorton
Lifer
- Aug 23, 2007
- 16,829
- 3
- 0
The majority of people who arent educated and working at a fastfood joint or other similar low end job usually make more than the minimum wage. McDonalds is paying 9-10 bucks for cashiers depending on region. The market hasnt really had a need for a minimum wage for decades. It is one of those solutions for a problem that largely doesnt exist. But makes people feel good about themselves for passing the legislation. That said I still think a min wage is a good idea. I just dont like it being used as a tool for creating a livable wage. Because livable is a touchy feely emotionally driven benchmark that isnt the same for everybody or every region.
The only prices that will be inflated will be markets that are almost totally service based where minimum wage labor makes up the bulk of expenses. How many of these can you think of?
Now, note that in some places, (Atlanta is one of them I can think of) fast food workers make 8 or 9 dollars an hour. I have also heard that In n' Out pays their workers better than most fast food as well. Compare an Atlanta McDonald's to one in a smaller city where the workers are probably making 6.50 an hour. Also compare In N Out to other fast food chains, accounting for the quality of food as well.
Also consider other places like retail chains. Note that I work retail and we have to dump bad product that we can't sell ALL the time. I probably see my paycheck go in the dumpster several times over compared to the merchandise we're dumping.
Also note that minimum wage doesn't change the money supply. Money supply determines inflation more than minimum wage ever will.
So yes, prices may rise a little, but not nearly as much as you might think, and it will be focused in certain areas.
Now, note that in some places, (Atlanta is one of them I can think of) fast food workers make 8 or 9 dollars an hour. I have also heard that In n' Out pays their workers better than most fast food as well. Compare an Atlanta McDonald's to one in a smaller city where the workers are probably making 6.50 an hour. Also compare In N Out to other fast food chains, accounting for the quality of food as well.
Also consider other places like retail chains. Note that I work retail and we have to dump bad product that we can't sell ALL the time. I probably see my paycheck go in the dumpster several times over compared to the merchandise we're dumping.
Also note that minimum wage doesn't change the money supply. Money supply determines inflation more than minimum wage ever will.
So yes, prices may rise a little, but not nearly as much as you might think, and it will be focused in certain areas.
Jaskalas
Lifer
- Jun 23, 2004
- 36,437
- 10,730
- 136
Ergo all you do is raise the minimum wage again. You keep raising it. Until the vast majority of wages higher than it are weeded out.
It is wealth redistribution, but at least it doesn't centralize power and feed an abusive government. This is a far better method than taxation because while it guts a few freedoms it would leave the vast majority of freedoms in place.
However, we all know that this does not end at minimum wage. They have written novels about what they intend to do to our tax code.
Originally posted by: Throckmorton
Thanks, so conservatives contend that raising the wages of 1.8% of earners will cause inflation
You raise it to 9.50 bucks and that wont be 1.8% anymore. You getting it yet? Raise it to 17 bucks and you capture 50% of our wage earners. But at what cost? Everything is passed down the chain and we eventually end up back right where started. In the meaintime causing all sorts of turmoil in the markets.
Ill reiterate that I dont have a problem with min wage. Just dont use it as a tool for livable wages and raise it gradually over time. If this goes through we will see a near 50% increase in min wage in 4 years. Do you know where else we have seen a 50% increase in wages in that time period?
You guys said that after the last minimum wage hike, yet our small businesses are still here. You right wingers are really amazing economists, I have to tell you. Ah well, I guess I just have to get used to 4 years of disaster predictions from you guys.
This just reminds me of the 90's. I've never seen a 'doomed' economy run so well.
Republicans and Conservatives you had your shot. You had free reign to implement your free market ideologies and guess what, YOU FAILED MISERABLY. So STFU and stop telling people what does and doesn't work in this economy because clearly you don't have a fucking clue either.
Yeah guys this is P&N, no more debating the politics of this country. We won you lost. This is how we achieve bipartisan policy that works!
TallBill
Lifer
- Apr 29, 2001
- 46,017
- 62
- 91
Not a single poster that I know on here has actually had a chance to change governmental policy. This isn't an issue of you or us, it's an issue of them/they because we're all watching from the sidelines hoping that one team or another will succeed.
For what it's worth I wouldn't affiliate with either party, and the label of conservative is about a useful as calling me a jock.
I think I have decided that raising it is a good thing, but now is not the time. We need to fix our econ more first. We need to fix it so the working middle class start spending again which will allow the businesses to flourish and grow more. Once we get that ball rolling faster then we should raise it.
All I'm saying is give your new President the benefit of the doubt. He's going to need this country united together and not bitterly partisan.
I'm sure no one could find good studies to prove or disprove the efficacy of raising the minimum wage? Certainly both sides have economic models that support or debunk the efficacy of raising the minimum wage?
All the arguments in the world have no meaning if they are devoid of facts.
-Robert
Certainly both sides have economic models that support or debunk the efficacy of raising the minimum wage?All the arguments in the world have no meaning if they are devoid of facts.
-Robert
Don't plan on singing "Kumbaya" with John McCain's supporters any time soon. The bitterness and religion and gun fire have just begun.
-Robert
Slightly amending what I said in my previous post. If our economy manages to recover more than I anticipate by 2011 then I would support this increase at that time as Obama is planning.
Also folks, remember that there are plans and there are also priorities. I don't believe that Obama would make a rash decision too quickly if other priorities such as the state of Econ are not prepared. That's just my opinion though. I know some of you don't have confidence in him yet.
Also folks, remember that there are plans and there are also priorities. I don't believe that Obama would make a rash decision too quickly if other priorities such as the state of Econ are not prepared. That's just my opinion though. I know some of you don't have confidence in him yet.
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