wlsc 0 #26 May 1, 2012 QuoteQuoteIn a historical context the value of the minimum wage is very, very low. Raising the minimum wage will help rebalance the economy. Why don't we raise the mininum wage to $100,000 per year and then there will be no more poor people. Problem solved! Let's raise interest rates to 1500% at the same time so that there are no more poor investors! Or a million %. Any number you can think of! Quote Share this post Link to post Share on other sites
jgoose71 0 #27 May 1, 2012 Quote Quote In a historical context the value of the minimum wage is very, very low. Raising the minimum wage will help rebalance the economy. Why don't we raise the mininum wage to $100,000 per year and then there will be no more poor people. Problem solved! What DD fails to understand is that if we raise minimum wage, the price of those goods produced by those people will have to increase also to accommodate the new wage, or the business will loose money and eventually fail, thus negating the rise in pay. You can see by the way that the left runs government that they think that money can just be printed without consequences, or just magically appears out of thin air. Business was never their strong suit, that's why they are for redistribution....."There is an art, it says, or, rather, a knack to flying. The knack lies in learning how to throw yourself at the ground and miss." Life, the Universe, and Everything Quote Share this post Link to post Share on other sites
lawrocket 3 #28 May 1, 2012 QuoteWalmart are going to get their labour from overseas - I think not. It's where they get their products. Overseas. Yep. So the labor costs will increase. This means increasing the costs of the end-items, ensuring that the affordability and purchasing power you suggest is nullified. That is, for those workers who are still employed. Here's another idea to increase purchasing power for those left working and causing greater unemployment: why not increase to a fifty hour workweek? That way full-time hourly workers get $25% more per pay period. The business owner can fire workers and redistribute the wealth to the other ones for working. That WILL increase the purchasing power of those still employed. My wife is hotter than your wife. Quote Share this post Link to post Share on other sites
DrewEckhardt 0 #29 May 1, 2012 QuoteQuoteWalmart are going to get their labour from overseas - I think not. Using your model with wages in China every American job would have already gone to that country. And look - wages are going up in China. They're getting richer and people won't work for peanuts. Which is where Vietnam and newly good Burma come in. And why Foxconn (of Apple manufacturing infamy) bought their Juarez manufacturing facility from Cisco in 2011. Quote Share this post Link to post Share on other sites
loumeinhart 0 #30 May 2, 2012 QuoteNow the poor can afford cell phones. Remember the eoghties? Cell phones were the province of the rich? Not anymore. Because the phones are so inexpensive that America's poor can afford them. There were people making minimum wage that owned iphones long before I did. I simply chose not to buy one because my little GSM clamshell did the job just fine. Quote Share this post Link to post Share on other sites
davjohns 1 #31 May 2, 2012 I did some research on this. Leading economists on both sides of the debate. No answer one way or the other. Results of UK instituting minimum wage gives an indication that it does not effect employment, but does cause prices to go up. Makes sense to me. If you need the employee, you need the employee; and you pass the costs on to the consumer.I know it just wouldnt be right to kill all the stupid people that we meet.. But do you think it would be appropriate to just remove all of the warning labels and let nature take its course. Quote Share this post Link to post Share on other sites
