Romney on minimum wage

[QuantumPion]

What I see in those post is a lack of life experience.

You think only single people with no children are on minimum wage? Try being a single parent and living on minimum wage. Try paying for daycare, rent, car note, electric bill, car insurance, diapers, baby clothes,,,, on minimum wage.

Hey guess what. We already have this thing called welfare where if you make below a certain income you get money from the government to support kids. It seems like you are just demanding that employers directly pay welfare to people instead of simply taxing the employer and than redistributing that money around.

Actually on second thought that is not a bad idea. Abolish all welfare, replace with negative income tax. I like it. So did Milton Friedman! But only as a temporary measure to ween people off welfare and get the economy back to the state of a free market.

 

[Texashiker]

Hey guess what. We already have this thing called welfare where if you make below a certain income you get money from the government to support kids.

Do you like paying taxes to subsidize the low wages paid by fortune 500 companies?

 

[halik]

No, he just never took an econ course.

Harvard MBA...

It makes no sense not to adjust it for inflation.

 

[Matt1970]

If you don't want to make minimum wage, learn a trade. Carpentry, Plumbing, Electricians, Painters, Drywall, etc etc all on average make more than twice minimum wage. None of that crap is rocket science. You could always start a lawn mowing business. People will pay around $30 a week to have thier lawns mowed and most people can do it in less than an hour with a push mower to start.

 

[1prophet]

http://news.yahoo.com/blogs/ticket/...ks-conservative-backlash-steve-143038744.html



I personally like the idea. I know this overall topic has been talked about a lot in P&N in the past. I'd love to see one state selected to be a GOP Utopia where they can do whatever they want. Then we can gage how their policies actually work in real life.

I foresee many businesses moving to said state only to see workers flee and $1/hour wages become the norm for 16 hour days

Most Americans are too self entitled to work for even $10 hour picking fruits and vegetables, yet somehow they will line up for $16 dollars a day?
http://www.youtube.com/watch?v=GmHFFa5GI3Q&t=0m17s

 

[halik]

All workers should be paid at least the minimum needed to survive. Anything else is ludicrious.

Exactly why is that? What do you think will happen if I'm forced to pay someone $7/hr when then only create $3/hr of added benefit?

 

[halik]

So no one understands the wage-price spiral effect anymore? Indexing wages to inflation will simply guarantee more inflation. So we price ourselves out of markets faster? What do they teach in school these days. The only way you can have an increase in wages without it eventually raising prices is if it is accompanied by a rise in productivity equal to or greater than one would need to keep overall costs the same.

Indexing minimum wage to inflation will have negligible impact on aggregate demandl; you certainly won't see the inflation getting pushed up by the relatively miniscule amount of that extra disposable income.

 

[Carmen813]

We need a structured minimum wage based on how much money the company made.

With a structured minimum wage, walmart would have a higher minimum wage then some mom and pop corner store.

A flat rate minimum wage creates an unfair plying field, with the large companies having the advantage.

Wouldn't this basically kill the labor market for small businesses?

 

[Texashiker]

Wouldn't this basically kill the labor market for small businesses?

Why would you think that?

There are other things employers can provide besides wages, such as flexible work hours.

With minimum wage at a set rate, small businesses are at a disadvantage. Why should a fortune 500 company that makes billions of dollars in profits be required to pay the same minimum wage as a small town store that is barely scrapping by.

What do you think will happen if I'm forced to pay someone $7/hr when then only create $3/hr of added benefit?

Lets say your company also makes 10 billion in yearly profits. Then you should have no problem paying a decent wage.

Unless of course that 10 billion was made from exploiting low wage workers.

 

[dank69]

Exactly why is that? What do you think will happen if I'm forced to pay someone $7/hr when then only create $3/hr of added benefit?

If you are running a business and a single position in your company can only generate $3/hr the least of your worries is the wages.

 

[palehorse]

Wouldn't this basically kill the labor market for small businesses?

Yes, it would. It's safe to say we've established that Texashiker is incredibly naive about business -- he has been trying, desperately, to tie wages directly to profits or product prices since his first post in this thread. Other market factors and company financials don't seem to matter to him very much...

 

[1prophet]

Why would you think that?

There are other things employers can provide besides wages, such as flexible work hours.

With minimum wage at a set rate, small businesses are at a disadvantage. Why should a fortune 500 company that makes billions of dollars in profits be required to pay the same minimum wage as a small town store that is barely scrapping by.




Lets say your company also makes 10 billion in yearly profits. Then you should have no problem paying a decent wage.

Unless of course that 10 billion was made from exploiting low wage workers.

low wage workers are already being exploited, just 2 of many examples

http://www.nytimes.com/2007/11/26/nyregion/26manhole.html

Chinese press

http://www.youtube.com/watch?v=U-LLsODnuHI



Unless you can make companies comply with US or European safety, EPA or equiv, and labor standards no matter where they set up shop globally,

forcing the big companies (who can move overseas) to pay more is an exercise in futility.

 

[dank69]

Yes, it would. It's safe to say we've established that Texashiker is incredibly naive about business -- he has been trying, desperately, to tie wages directly to profits or product prices since his first post in this thread. Other market factors and company financials don't seem to matter to him very much...

If you are specifically talking about profit doesn't that eliminate other company financials from the equation? What I mean is, while those financials may influence the amount of profit a company makes, once you start tying something like wages to said profit, those financials have already been accounted for. So why do you bring them into the discussion?

 

[Texashiker]

Yes, it would. It's safe to say we've established that Texashiker is incredibly naive about business

Since 1984 I have worked for every thing from a fortune 1000 company, to small businesses that were barely getting by.

he has been trying, desperately, to tie wages directly to profits or product prices since his first post in this thread. Other market factors and company financials don't seem to matter to him very much...

If a company can afford to have corporate jets, pay the CEO tens of millions of dollars and rake in billions of dollars in profits, there is no reason why the company can not pay a liveable wage and provide benefits for the lowest of employees.

I am tired of my tax dollars being used to subsidize fortune 500 and fortune 1000 companies. Why shouldn't walmart, mcdonalds, target, sonic,,,, be required to pay their employees a liveable wage?

Or, why not just limit the difference between what the CEO and the lowest paid employee. If a CEO makes 20 million a year, the lowest paid employee should make 200,000 a year. After all, if a company can afford to pay a CEO 20 million, there is plenty of money to go around.

Do you like the idea of walmart paying minimum wage to a single mother. Then that single mother drawing food stamps and medicaid? That is our tax dollars subsidizing the walmart benefits package.

 

[Nemesis 1]

No, I just assume he knows what a price floor is and its effects.

I love it when people call me a dumb fuck for being educated.

Don't worry about it I am here . I will keep the crown . I out dumb you 100x.

 

[Nemesis 1]

If a company afford to have corporate jets, pay the CEO tens of millions of dollars and rake in billions of dollars in profits, there is no reason why the company can not pay a liveable wage and provide benefits for the lowest of employees.

Your a texan . So you know that if you live better and set tall in the saddle . Those above you need a higher horse to set on

 

[palehorse]

Since 1984 I have worked for every thing from a fortune 1000 company, to small businesses that were barely getting by.




If a company can afford to have corporate jets, pay the CEO tens of millions of dollars and rake in billions of dollars in profits, there is no reason why the company can not pay a liveable wage and provide benefits for the lowest of employees.

I am tired of my tax dollars being used to subsidize fortune 500 and fortune 1000 companies. Why shouldn't walmart, mcdonalds, target, sonic,,,, be required to pay their employees a liveable wage?

Or, why not just limit the difference between what the CEO and the lowest paid employee. If a CEO makes 20 million a year, the lowest paid employee should make 200,000 a year. After all, if a company can afford to pay a CEO 20 million, there is plenty of money to go around.

Can you please cite an example of a full-time employee, at any of those companies, that does not receive a "living wage"?

 

[Texashiker]

Can you please cite an example of a full-time employee, at any of those companies, that does not receive a "living wage"?

Find it yourself

http://en.wikipedia.org/wiki/Criticism_of_Walmart

As of October 2005, Walmart's health insurance covered 44% or approximately 572,000 of its 1.6 million U.S. workers. In comparison, Walmart rival and wholesaler Costco insures approximately 96% of its eligible workers

 

[dank69]

Can you please cite an example of a full-time employee, at any of those companies, that does not receive a "living wage"?

Why do those people receive a living wage? Do you think if the min wage was reduced that those companies would not immediately reduce their wages to match?

 

[palehorse]

Do you like the idea of walmart paying minimum wage to a single mother. Then that single mother drawing food stamps and medicaid? That is our tax dollars subsidizing the walmart benefits package.

So wages should be based on marital status and the number of children, as well?!

You're off your rocker.

 

[Texashiker]

So wages should be based on marital status and the number of children, as well?!

You're off your rocker.

I did not say wages should be based off marital status.

Reading comprehension fail.

I will ask you again, do you like the idea of walmart paying minimum wage to a single mother. Then that single mother drawing food stamps and medicaid? That is our tax dollars subsidizing the walmart benefits package.

Do you like your tax dollars subsidizing walmart employees? Yes or no?

 

[Nemesis 1]

low wage workers are already being exploited, just 2 of many examples

http://www.nytimes.com/2007/11/26/nyregion/26manhole.html

Chinese press

http://www.youtube.com/watch?v=U-LLsODnuHI



Unless you can make companies comply with US or European safety, EPA or equiv, and labor standards no matter where they set up shop globally,

forcing the big companies (who can move overseas) to pay more is an exercise in futility.

You ever work in a foundry? Not alot of safty thats useable that could cause unsafer conditions , The foundry shot was a bad choice . Its just a pure suck job . Pay at like John deere or White farm Back in 74 was great for the time . I worked in foundry for a short period at white farm . Than the layoffs came .

 

[palehorse]

Find it yourself

http://en.wikipedia.org/wiki/Criticism_of_Walmart

This conversation is about base wages, NOT healthcare and other benefits.

So you still need to cite an example of a full-time employee, at any of those companies, who does not receive a "living wage."

Let me also remind you that Federal minimum wage, by itself, equals $15,080/yr...

 

[palehorse]

Why do those people receive a living wage? Do you think if the min wage was reduced that those companies would not immediately reduce their wages to match?

Irrelevant -- nobody here has mentioned lowering minimum wage. Texashiker wants large/successful corps to be FORCED to pay a higher minimum wage than less successful, or simply smaller, companies.

He is trying to tie "minimum wage" directly to corporate profits without considering any other market factors.

 

[Texashiker]

Let me also remind you that Federal minimum wage, by itself, equals $15,080/yr...

Isn't that 15,080 before taxes? So after social security, medicaid/medicare and income tax, how much is left?

http://seattletimes.nwsource.com/html/localnews/2002791346_walmart07m.html

http://www.pbs.org/itvs/storewars/stores3.html

The salary for full-time employees (called "associates") is $6 to $7.50 an hour for 28-40 hours a week, which is typical in the discount retail industry. This pay scale places employees with families below the poverty line

Would you please answer the question, do you like your tax dollars subsidizing walmart employees? Yes or no?