so apperantly 40% of americans make less than the 1968 minimum wage

[Betonblck]

$16.50 and JB prices would be $350 for every retro and $500 for foambz.

this

looking at it from the perspective of the companies, i dont think that woul work b/c more and more jobs would be outsourced to other areas to not deal w/ the rising wages here in the states.

plus, the economy would adjust... and toyota corollas would be 45k...

Most of the only jobs left in this country are ones that cannot be outsourced. So, I don't think it would make that big of a difference there.

Also, saying that "the economy would adjust" is a gross oversimplification of the repercussions of increasing minimum wage. There is also something called supply and demand which plays a big part in how much a company can charge for it's product or service.

 

[crcballer55]

$16.50 and JB prices would be $350 for every retro and $500 for foambz.

this

looking at it from the perspective of the companies, i dont think that woul work b/c more and more jobs would be outsourced to other areas to not deal w/ the rising wages here in the states.

plus, the economy would adjust... and toyota corollas would be 45k...

Most of the only jobs left in this country are ones that cannot be outsourced.

So, I don't think it would make that big of a difference there.

Also, saying that "the economy would adjust" is a gross oversimplification of the repercussions of increasing minimum wage. There is also something called supply and demand which plays a big part in how much a company can charge for it's product or service.

How come jobs are coming back into the country then? One of the reasons they left in the first place was because of low wage that employers were able to pay for low skilled jobs. Since wages in China have been increasing drastically over the last couple years, companies have been reconsidering their strategy and have actually been bringing jobs back into the U.S. from China & Mexico. Once exception is textiles, but that's because our economy has evolved past that kind of labor.

 

[al audi]

If youre over 21 an earn less than 16.50 and not currently a student.....get off Niketalk.

 

[sir charles]

If youre over 21 an earn less than 16.50 and not currently a student.....get off Niketalk.

Strong this.

 

[Betonblck]

If youre over 21 an earn less than 16.50 and not currently a student.....get off Niketalk.

$16.50 isn't bad money for a young person depending on where you live though.

 

[david bowman]

How do you think there are record profits over and over again during a recession?

 

[Rootin4EverybodyBlack]

If youre over 21 an earn less than 16.50 and not currently a student.....get off Niketalk.

Please let me know where all these jobs are paying 16.50 a hour....

Companies around here (DC) are barely offering 13/hour and want you to have a Bachelor's + Experience.

 

[Rootin4EverybodyBlack]

Double post

 

[va757va]

Please let me know where all these jobs are paying 16.50 a hour....

Companies around here (DC) are barely offering 13/hour and want you to have a Bachelor's + Experience.

repped for the realness...

 

[al audi]

Please let me know where all these jobs are paying 16.50 a hour....

Companies around here (DC) are barely offering 13/hour and want you to have a Bachelor's + Experience.

As expensive as DC is........wow.

 

[ruxxx]

As expensive as DC is........wow.

Al maaaaaaaaan... and let's not EEEEEEVEN talk about how stingy these bastards are with raises. **** is downright insulting.

 

[Rootin4EverybodyBlack]

As expensive as DC is........wow.

Yeah bruh, I'm not even exaggerating either. Entry level office jobs, even in accounting, are paying less than working at Costco.

 

[Mark Antony]

Yeah life ain't that black and white to just get out there and make over 16.. Too many factors determine pay. Y'all are out of touch and unrealistic sometimes.

 

[nixonjames]

Yah it's rough out there.  I'm a new attorney, last contract job I got before I passed my bar (currently in the job search) they were giving me and other actually licensed attorneys $17/hr (there was some overtime and they were cool to us, but that's rape when you think about how much $$ people sink into that degree on top of a bachelor's...) folks should be laughin when they lowball that hard but they're taking it... it's rough out there in a lot of spots and industries.

 

[unknwn]

what happened in 1971? we dropped out of the gold standard. thats what causes the disconnects we see today. dont believe me? look at the debt accumulated over a 50 year span and everything else

This dude knows

 

[takebyforce]

every time minimum wage goes up, the higher pay disqualifies lower skilled workers from the higher pay.  if you owned the business and had 5 employees, you would say, " you are worth 9$ per hour, you are worth $9 per hour, you are worth $9 per hour, you are worth $9 per hour, but sorry, YOUR productivity is not worth the $9 per hour".  Prices are raised to make up for the higher wages paid out....so we get higher unemployment and higher inflation, higher poverty rates.  you all should get your own business and stop working for some one else.....free yourself from the tax farm!!

 

[3am scholar]

 

[stoneyjax]

every time minimum wage goes up, the higher pay disqualifies lower skilled workers from the higher pay.  if you owned the business and had 5 employees, you would say, " you are worth 9$ per hour, you are worth $9 per hour, you are worth $9 per hour, you are worth $9 per hour, but sorry, YOUR productivity is not worth the $9 per hour".  Prices are raised to make up for the higher wages paid out....so we get higher unemployment and higher inflation, higher poverty rates.  you all should get your own business and stop working for some one else.....free yourself from the tax farm!!

truth

 

[ricky409]

Most of the only jobs left in this country are ones that cannot be outsourced. So, I don't think it would make that big of a difference there.

Also, saying that "the economy would adjust" is a gross oversimplification of the repercussions of increasing minimum wage. There is also something called supply and demand which plays a big part in how much a company can charge for it's product or service.

lets go thru it...

Min wage is 16 so min salary is 30k... and the economy doesn't adjust.

Lets say it takes 1 min wage worked to make one Toyota corolla even with all the machines (nothing including fixed costs, variable costs, overhead, lawyer fees, marketing fees, etc)

The boss that pays the minimum wage is NOT going to sell for any less than 30 k b/c he'd be losing money. So he'd have to raise the prices to pay.

I could go into the other factors but the fact is everything adjusts ... and if we flood the market with dollars, the value of it decreases, leading to increased prices (hyper inflation)

If you change the federal interest rate bye a tenth of a percent, its going to make million's, if not billions of dollars move. Money is its price for a reason.

I'm not sure if were on the same page or not... but increasing minimum wage would be DISASTROUS to the economy. Especially to $16. Lol.

Unemployment would SKYROCKET ... Companies would literally fall apart ...

Do you know how many supermarkets would replaceme 10 cashiers with a 10 lane machine, 2 workers a Security guard?
Bong... 7 folks out of a job right there.

 

[Betonblck]

Most of the only jobs left in this country are ones that cannot be outsourced. So, I don't think it would make that big of a difference there.

Also, saying that "the economy would adjust" is a gross oversimplification of the repercussions of increasing minimum wage. There is also something called supply and demand which plays a big part in how much a company can charge for it's product or service.

lets go thru it...

Min wage is 16 so min salary is 30k... and the economy doesn't adjust.

Lets say it takes 1 min wage worked to make one Toyota corolla even with all the machines (nothing including fixed costs, variable costs, overhead, lawyer fees, marketing fees, etc)

The boss that pays the minimum wage is NOT going to sell for any less than 30 k b/c he'd be losing money. So he'd have to raise the prices to pay.

I could go into the other factors but the fact is everything adjusts ... and if we flood the market with dollars, the value of it decreases, leading to increased prices (hyper inflation)

If you change the federal interest rate bye a tenth of a percent, its going to make million's, if not billions of dollars move. Money is its price for a reason.

I'm not sure if were on the same page or not... but increasing minimum wage would be DISASTROUS to the economy. Especially to $16. Lol.

Unemployment would SKYROCKET ... Companies would literally fall apart ...

Do you know how many supermarkets would replaceme 10 cashiers with a 10 lane machine, 2 workers a Security guard?
Bong... 7 folks out of a job right there.

So, basically you are saying that if you raise minimum wage, you are "flooding the market with dollars that will result in inflation". However, when Ben Bernanke does it by giving money to banks, that's ok because he is trying to stimulate the economy. Or when it is in the form of higher executive salaries, it's ok because they work 500 times harder than everyone else.

Why is there no inflation when executive salaries rise 50%-100%?

I can't really get into your Toyota example because for obvious reasons, it's an absurd discussion in the first place.

As far as supermarket cashiers, that's already happened. 10 lane machines have already replaced cashiers in the supermarkets I shop at. Also at the Home Depot and Lowe's as well.

 

[Betonblck]

every time minimum wage goes up, the higher pay disqualifies lower skilled workers from the higher pay.  if you owned the business and had 5 employees, you would say, " you are worth 9$ per hour, you are worth $9 per hour, you are worth $9 per hour, you are worth $9 per hour, but sorry, YOUR productivity is not worth the $9 per hour".  Prices are raised to make up for the higher wages paid out....so we get higher unemployment and higher inflation, higher poverty rates.  you all should get your own business and stop working for some one else.....free yourself from the tax farm!!

truth

False. When you pay poverty wages, you just end up with poor people with jobs that depend on the government to make up the difference through government assistance and tax credits.

California taxpayers are spending $86 million a year providing healthcare and other public assistance to the state’s 44,000 Wal-Mart employees, according to a new study by UC Berkeley’s Institute for Industrial Relations.

The study, “Hidden Cost of Wal-Mart Jobs,” found that the average Wal-Mart worker required $730 in taxpayer-funded healthcare and $1,222 in other forms of assistance, such as food stamps and subsidized housing, to get by.

http://laborcenter.berkeley.edu/retail/walmart.pdf

Walmart's employees receive $2.66 billion in government help every year, or about $420,000 per store. They are also the top recipients of Medicaid in numerous states. Why does this occur? Walmart fails to provide a livable wage and decent healthcare benefits, costing U.S. taxpayers an annual average of $1.02 billion in healthcare costs. This direct public subsidy is being given to offset the failures of an international corporate giant who shouldn’t be shifting part of its labor costs onto the American taxpayers.

http://www.dailykos.com/story/2012/...y-epidemic-taking-advantage-of-our-safety-net

 

[lazy]

Most of the only jobs left in this country are ones that cannot be outsourced. So, I don't think it would make that big of a difference there.

Also, saying that "the economy would adjust" is a gross oversimplification of the repercussions of increasing minimum wage. There is also something called supply and demand which plays a big part in how much a company can charge for it's product or service.

lets go thru it...

Min wage is 16 so min salary is 30k... and the economy doesn't adjust.

Lets say it takes 1 min wage worked to make one Toyota corolla even with all the machines (nothing including fixed costs, variable costs, overhead, lawyer fees, marketing fees, etc)

The boss that pays the minimum wage is NOT going to sell for any less than 30 k b/c he'd be losing money. So he'd have to raise the prices to pay.

I could go into the other factors but the fact is everything adjusts ... and if we flood the market with dollars, the value of it decreases, leading to increased prices (hyper inflation)

If you change the federal interest rate bye a tenth of a percent, its going to make million's, if not billions of dollars move. Money is its price for a reason.

I'm not sure if were on the same page or not... but increasing minimum wage would be DISASTROUS to the economy. Especially to $16. Lol.

Unemployment would SKYROCKET ... Companies would literally fall apart ...

Do you know how many supermarkets would replaceme 10 cashiers with a 10 lane machine, 2 workers a Security guard?
Bong... 7 folks out of a job right there.

So, basically you are saying that if you raise minimum wage, you are "flooding the market with dollars that will result in inflation". However, when Ben Bernanke does it by giving money to banks, that's ok because he is trying to stimulate the economy. Or when it is in the form of higher executive salaries, it's ok because they work 500 times harder than everyone else.

Why is there no inflation when executive salaries rise 50%-100%?

I can't really get into your Toyota example because for obvious reasons, it's an absurd discussion in the first place.

As far as supermarket cashiers, that's already happened. 10 lane machines have already replaced cashiers in the supermarkets I shop at. Also at the Home Depot and Lowe's as well.

This. retail stores have been downsizing their crews significantly for the past 3 or 4 years. and when they don't let people go, everyones hours gets cut to keep everyone aboard.

 

[ricky409]

So, basically you are saying that if you raise minimum wage, you are "flooding the market with dollars that will result in inflation". However, when Ben Bernanke does it by giving money to banks, that's ok because he is trying to stimulate the economy. Or when it is in the form of higher executive salaries, it's ok because they work 500 times harder than everyone else.

Why is there no inflation when executive salaries rise 50%-100%?

I can't really get into your Toyota example because for obvious reasons, it's an absurd discussion in the first place.

As far as supermarket cashiers, that's already happened. 10 lane machines have already replaced cashiers in the supermarkets I shop at. Also at the Home Depot and Lowe's as well.

to me, financial discussions are like sports. Every one has there own opinion.

But its a damn fact that if you raise min wage, people WILL get laid off... can you dispute that?

And please lets not get into executive pay. Because, like always, you will use extreme situations to back your claim, like poorly ran companies.

Its all subjective in finance... but lets just lower interest rates to 0% while we're at it...

And please get into the Toyota example for "obvious reasons". You're trying to make it seem like I'm totally wrong.

If the magical idea was raise min wage to $16 to recover the economy, don't you think it would have been done?

It hasn't for "obvious reasons"

 

[david bowman]

Coorporations own congress, so it wouldn't be raised even if it did help the economy.

 

[Betonblck]

So, basically you are saying that if you raise minimum wage, you are "flooding the market with dollars that will result in inflation". However, when Ben Bernanke does it by giving money to banks, that's ok because he is trying to stimulate the economy. Or when it is in the form of higher executive salaries, it's ok because they work 500 times harder than everyone else.

Why is there no inflation when executive salaries rise 50%-100%?

I can't really get into your Toyota example because for obvious reasons, it's an absurd discussion in the first place.

As far as supermarket cashiers, that's already happened. 10 lane machines have already replaced cashiers in the supermarkets I shop at. Also at the Home Depot and Lowe's as well.

to me, financial discussions are like sports. Every one has there own opinion.

But its a damn fact that if you raise min wage, people WILL get laid off... can you dispute that?

And please lets not get into executive pay. Because, like always, you will use extreme situations to back your claim, like poorly ran companies.

Its all subjective in finance... but lets just lower interest rates to 0% while we're at it...

And please get into the Toyota example for "obvious reasons". You're trying to make it seem like I'm totally wrong.

If the magical idea was raise min wage to $16 to recover the economy, don't you think it would have been done?

It hasn't for "obvious reasons"

Some of our country's best periods of growth have followed increases in minimum wage. In 1996-1997, when minimum wage went from 4.25- 5.15, we had tremendous growth in the following couple of years. Then after 10 years of no minimum wage increases to 2007, we finally started to increase minimum wages again and the economy has been getting better over the past couple of years.

Can you point to any evidence that people will get laid off by increasing wages?

If you want to get into the topic of auto manufacturers, let's use a real life example like Henry Ford and his decision to set a $5 a day wage and to realize that when his own employees could afford the cars they made, the company would be successful. That is the difference between the past when people thought long term and the present when people think short term about how they can get the biggest bonus even if it risks bankrupting the entire corporation.

http://learning.blogs.nytimes.com/2012/01/05/jan-5-1914-henry-ford-implements-5-a-day-wage/

In the end, Ford’s business goals were realized and his wage increase had its intended effect: turnover declined sharply, and profits doubled to $60 million from $30 million from 1914 to 1916.