Raise of minimum wage

[ballmode]

Next month minimum wages go up $7.50

I make 8.75 an hour. Should I ask for a pay rate increase since people are only making 1.25 less than me?

 

[newb111]

you can ask, but you won't get it.

 

[CrazyHelloDeli]

Where do you work? What do you do? How long have you been working there?

 

[Syringer]

How long have you been there and how long have you been making 8.75? If you've been there long enough you should ask for a raise, but not by the basis that min wage is going up.

 

[Phoenix86]

Originally posted by: Syringer
How long have you been there and how long have you been making 8.75? If you've been there long enough you should ask for a raise, but not by the basis that min wage is going up.

Worse yet, they will be paying OTHER people more and will have less resources to increase his pay.

 

[FoBoT]

Originally posted by: ballmode
Next month minimum wages go up $7.50

?

you are getting ahead of yourself, the law hasn't been changed yet

 

[Phoenix86]

Originally posted by: FoBoT

Originally posted by: ballmode
Next month minimum wages go up $7.50

?

you are getting ahead of yourself, the law hasn't been changed yet

Good point, ask for the raise now.

 

[BrunoPuntzJones]

Originally posted by: FoBoT

Originally posted by: ballmode
Next month minimum wages go up $7.50

?

you are getting ahead of yourself, the law hasn't been changed yet

Actually it depends on the state. AR increased minimum wage to 6.50 or 7.25 or something.

 

[Cabages]

So this increase isnt for sure?

Been at my job for a year and only get $6.50

 

[Ronstang]

Originally posted by: ballmode
Next month minimum wages go up $7.50

I make 8.75 an hour. Should I ask for a pay rate increase since people are only making 1.25 less than me?

This is just an example of how increasing the minimum wage can increase inflation and chew up any benefit of the increase. It is a feel good issue. You somehow now think you are worth more because minimum wage has gone up. If everyone has to get a bump in pay to compensate you can bet it will lead to higher prices. Even though very few people work at the minimum wage level everyone bases their worth off of that number.

 

[Vette73]

Originally posted by: Cabages
So this increase isnt for sure?

Been at my job for a year and only get $6.50

As someone above pointed out for their state. Each state can set their Min.Wage higher then the national Min.wage and many states did so in the last election.

 

[Vette73]

Originally posted by: Ronstang

Originally posted by: ballmode
Next month minimum wages go up $7.50

I make 8.75 an hour. Should I ask for a pay rate increase since people are only making 1.25 less than me?

This is just an example of how increasing the minimum wage can increase inflation and chew up any benefit of the increase. It is a feel good issue. You somehow now think you are worth more because minimum wage has gone up. If everyone has to get a bump in pay to compensate you can bet it will lead to higher prices. Even though very few people work at the minimum wage level everyone bases their worth off of that number.

This is just an example of how someone that knows jack squat about economics and gets their vast knowledge of how the economy works from faux news/orielly/rush/etc... thinks things works.

P

 

[ballmode]

I started at 8.75

 

[Amused]

And so it begins.

The Unions, who base their pay-scales on minimum + a % all get automatic raises.

Other hourly workers will demand raises as will. The service, food and manufacturing industries will be forced to raise prices to meet these increased wages.

Now the average salaried worker's money doesn't go as far, so they will demand raises as well.

And, before you know it... we're back where we started.

 

[ballmode]

that was amusing amused

true and on point.

 

[Engineer]

Originally posted by: Amused

And, before you know it... we're back where we started.

With corporations at an all time high in profits equaling 10% of GDP for the first time in history (like they are now)? :Q

Sounds good to me!

(P.S. The Fed will just print and release more money! )

 

[HardcoreRobot]

if everyone makes more money its not worth as much

minimum wage is stupid

ask for more money if you deserve it or the market bears it

 

[Sphexi]

McDonald's only gives raises every 6 months to a year. Don't worry, you'll get yours soon.

 

[JS80]

I feel sorry for the unskilled people who want to make an honest paycheck for $5/hour and increase their work skill but can't legally. Yet it's the poor people that vote Democrat. The irony is making my brain explode.

 

[JS80]

Originally posted by: Marlin1975

Originally posted by: Ronstang

Originally posted by: ballmode
Next month minimum wages go up $7.50

I make 8.75 an hour. Should I ask for a pay rate increase since people are only making 1.25 less than me?

This is just an example of how increasing the minimum wage can increase inflation and chew up any benefit of the increase. It is a feel good issue. You somehow now think you are worth more because minimum wage has gone up. If everyone has to get a bump in pay to compensate you can bet it will lead to higher prices. Even though very few people work at the minimum wage level everyone bases their worth off of that number.

This is just an example of how someone that knows jack squat about economics and gets their vast knowledge of how the economy works from faux news/orielly/rush/etc... thinks things works.

P

You obviously have a PhD in economics :roll: Is it from the Soviet School of Communism?

 

[Amused]

Originally posted by: Engineer

Originally posted by: Amused

And, before you know it... we're back where we started.

With corporations at an all time high in profits equaling 10% of GDP for the first time in history (like they are now)? :Q

Sounds good to me!

(P.S. The Fed will just print and release more money! )

Like I said, companies don't eat wage and tax increases. They simply raise their prices.

This not only makes them less competitive on the world market, it also brings inflation. As does simply printing more money. In fact, through history printing more money to deal with economic issues has caused rampant inflation.

 

[Engineer]

Originally posted by: Amused
In fact, through history printing more money to deal with economic issues has caused rampant inflation.

We're borrowing and printing as fast as we can right now. Partial reasons the dollar is sinking and imports are rising in price(such as oil). As long as we can keep prices low by exchanging our paper for plasma (printed dollars to China/Asia for plasma TV's), we're OK (assuming other countries continue to consume our debt to allow more printing). Once the dollar and our debt (treasuries) fall out of favor, watch out! :Q

But you're right that raising the minimum wage creates a wave throughout all wage categories and prices will eventually increase (short term profits may decrease hurting the bottom line/competitiveness/stock price). As long as we don't go back to slave labor, I don't really care if it stays where it's at. Most areas already pay much more than that anyway.

 

[chrisms]

Let's play "name the Economics major"

 

[JS80]

Originally posted by: Engineer

Originally posted by: Amused
In fact, through history printing more money to deal with economic issues has caused rampant inflation.

We're borrowing and printing as fast as we can right now. Partial reasons the dollar is sinking and imports are rising in price(such as oil). As long as we can keep prices low by exchanging our paper for plasma (printed dollars to China/Asia for plasma TV's), we're OK (assuming other countries continue to consume our debt to allow more printing). Once the dollar and our debt (treasuries) fall out of favor, watch out! :Q

But you're right that raising the minimum wage creates a wave throughout all wage categories and prices will eventually increase (short term profits may decrease hurting the bottom line/competitiveness/stock price). As long as we don't go back to slave labor, I don't really care if it stays where it's at. Most areas already pay much more than that anyway.

There is a huge difference between the government printing money and spending it and the government selling bonds to increase the money supply.

 

[Engineer]

Originally posted by: JS80

Originally posted by: Engineer

Originally posted by: Amused
In fact, through history printing more money to deal with economic issues has caused rampant inflation.

We're borrowing and printing as fast as we can right now. Partial reasons the dollar is sinking and imports are rising in price(such as oil). As long as we can keep prices low by exchanging our paper for plasma (printed dollars to China/Asia for plasma TV's), we're OK (assuming other countries continue to consume our debt to allow more printing). Once the dollar and our debt (treasuries) fall out of favor, watch out! :Q

But you're right that raising the minimum wage creates a wave throughout all wage categories and prices will eventually increase (short term profits may decrease hurting the bottom line/competitiveness/stock price). As long as we don't go back to slave labor, I don't really care if it stays where it's at. Most areas already pay much more than that anyway.

There is a huge difference between the government printing money and spending it and the government selling bonds to increase the money supply.

That is very true. However, I think that the government is slipping more out than it is borrowing.

Completely off topic: I read an article once that explained that the government printed $10 for every $1 it borrowed. I have not seen such an article before or since and have doubts. It did explain in detail why the government did it this way. To me, that would be rather foolish but what do I know.

Oh well, before this become a huge economics thread, which is was not meant to be, good luck to all in the positon of having higher wages just above the minimum wage. I had that at Kroger once and when minimum wage was increased, my wage went to....drumroll....minimum wage. Nice, isn't it? Had worked there for over a year and was above minimum then...but right back to starting salary.

Originally posted by: chrisms
Let's play "name the Economics major"

:laugh:. Certainly nothing that I know about. My name should give my profession away pretty easily!