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Minimum Wage

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_TK_
Posts: 467 - Karma: 128
What do you guys think about the Pres raising the minimum wage to 9 doll hairs??
Feb 12 2013 9:54PM
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roor
Posts: 946 - Karma: -80
do you honestly think the state will give the U one of the largest employers in slc money so they can pay everybody over 9.00. It comes out your pocket nothing is free. I haven't worked on minimum since high school there no reason why a single mother cant get a better paying job. plus if she was employed by a small business chances are she would be fired because small business will be hit hardest by obama care and min wage.
Feb 13 2013 2:05PM
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-dAvE-
Posts: 677 - Karma: 74
Minimum here in montreal is 9.70$ or so. keeps going up every so often.
Feb 13 2013 2:17PM
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AT-AT
Posts: 3281 - Karma: 3,256
9 dollars is ridiculous. Not to bash working at mcdonalds, but no 14-16 yr old working there deserves to make 9 an hour. People keep on using the "well a single mother can't raise her family on minimum wage." While that might true, she is probably collecting food stamps, medicaid, government subsidized housing. Why must I and the middle class keep on working harder so that my taxes can go up and people collect my hard earned money. Some of you are probably thinking what does raising minimum wage have to do with you paying more? Employees will need to take in more income to pay these higher wages, this cost will cause prices on everything to go up, we will all have to pay more for just about everything and since our taxes are based on a percentage, we will all end up paying more on sales tax as well.
Feb 13 2013 2:30PM
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DockEllis
Posts: 1131 - Karma: 1,745
True, but $7.25 to $9.00 is a increase of over 20% which is way more than matching inflation.
Feb 13 2013 2:51PM
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A_Unicorn
Posts: 129 - Karma: 249
I work minimum wage. I think NY recently voted on raising it to 8.75 instead of the current 7.25. Pretty stoked.
Feb 13 2013 3:10PM
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BrewskiJr
Posts: 5738 - Karma: 1,478
This this this.
Feb 13 2013 4:43PM
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FuckAllOfYou
Posts: 3864 - Karma: 2,518
lol i don't even make minimum wage so idgaf. keep it the way it is
Feb 13 2013 4:46PM
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BertBoyd
Posts: 734 - Karma: 2,253
Oh Ma Gawd
Feb 13 2013 4:49PM
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Mr.LemonPie
Posts: 4100 - Karma: 1,625
I'm sorry but that just isn't true. When you go to crunch tacos that guy serving you is serving what, 25-50 people an hour, so if it were 25, that would mean to get a 1.25 dollar an hour raise the total cost of your order would go up by a nickel. I know I don't know where I'll get those extra nickels from either...it's just too much to ask for the price would go up so much it is crazy!

Not really sure how it would make school (subsidized by the government/no minimum wage workers really) and housing go up, would love to hear your rationale though.
Feb 13 2013 5:36PM
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LiquorLanch
Posts: 1909 - Karma: 1,046
Just saying if they raise tge min wag then people like me who are in high school and work min wage will work even less and when we do wprk; have to do more work. Businesses are hard enough hit as is
Feb 13 2013 9:59PM
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Willgum
Posts: 3254 - Karma: 3,066
Exactly. Businesses will be able to hire less people. On top of that, all the kids who werent looking for work will now have an incentive to look for jobs again.

Less job openings + more kids looking for jobs = not a fun time for hs kids/ college kids.
Feb 14 2013 12:58AM
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Dustin.
Posts: 13839 - Karma: 7,704
Business owners will do the work themselves or hire fewer people, and we will pay taxes towards the welfare of those newly unemployed folks you're discussing. It's not like this money is going to magically appear.
Feb 14 2013 1:34AM
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LIL_WAT
Posts: 1900 - Karma: 475
Even worse, if those kids are willing to work for , say, $8.70 per hour and find a willing employer, they will be BREAKING THE LAW if they arrange a contract under those terms. It's insanity.
Feb 14 2013 1:42AM
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*ninja*
Posts: 2108 - Karma: 1,143
There r plenty of jobs so stop whinning
Feb 14 2013 1:46AM
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act.resist
Posts: 8875 - Karma: 513
i don't know what the implications will be, but i will get lots of money so that will be nice.

(typical american response)
Feb 14 2013 2:06AM
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volvotom
Posts: 2045 - Karma: 712
Let us set aside the merits or macroeconomics of increasing the minimum wage and look at the political reality.

The feasibility of a minimum wage increase passing through this congress is 0%. After the 2014 midterms if Dems hold the Senate (appears unlikely) and retake the House (more likely than holding the Senate, but still low) then it could happen, but do not hold your breath.

As an aside, State of the Union speeches are largely symbolic, the constitution states that the President will give Congress information on the state of the union "from time to time." For hundreds of years president's simply sent Congress a letter fulfilling this. Furthermore, the speech is always a laundry list of dreams that the President and his staff have, a large portion of which are never enacted. It's the kind of thing everyone stops talking about 2 days after it is over.

One last thing, any attention to Marco Rubio's rebuttal was overshadowed by his need to take a sip of water.
Feb 14 2013 2:24AM
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accualyisdolan
Posts: 3295 - Karma: -192
Or you'll lose your job
Feb 14 2013 4:13AM
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accualyisdolan
Posts: 3295 - Karma: -192
Also. A person who has a kid when they only make min wage is iresponsible.
Feb 14 2013 4:16AM
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.skiwi.
Posts: 898 - Karma: 40
Minimum wage in nz is $13.75, many people think it should be higher including myself. People say that raising it is silly as it leaves companies with less money, that may be a tiny bit true but think of the knock on effects. With the higher wage people will work more efficiently = higher work rate. With the extra money people will be able to buy better food for themselves and family, this will mean less sick days = more work done and lower health costs. Especially in NZ where it is a public health system there will be more money for everyone. End.
Feb 14 2013 4:25AM
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accualyisdolan
Posts: 3295 - Karma: -192
Better food= less sick days? Yeah
Feb 14 2013 4:27AM
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BrewskiJr
Posts: 5738 - Karma: 1,478
You forget that we are in America. More money=more McDonald's.
Feb 14 2013 9:00AM
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Lucas
Posts: 4881 - Karma: 1,575
Another straight retarded post from you.
Feb 14 2013 10:11AM
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Park_Ranger
Posts: 3825 - Karma: 8,635
Actually, eliminating the minimum wage all together would be in the best interest of the economy.
Feb 14 2013 1:30PM
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Park_Ranger
Posts: 3825 - Karma: 8,635
and the unemployed.
Feb 14 2013 1:31PM
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BrewskiJr
Posts: 5738 - Karma: 1,478
You're a fucking idiot.
Feb 14 2013 1:32PM
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deleted5
Posts: 14507 - Karma: 13,507
the cost of living in NZ is SO much higher than it is in U.S.A.
Feb 14 2013 2:13PM
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neutralzombie
Posts: 8629 - Karma: 606
welcome to normalcy. that's still less than canada.
Feb 14 2013 3:18PM
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volvotom
Posts: 2045 - Karma: 712
I do not know how accurate that is.

You have to remember that they also subsidize education, healthcare, and offer other benefits well above the United States.

More info here: http://www.newzealandnow.govt.nz/living-in-nz/family-friendly/leader-in-education
Feb 14 2013 3:20PM
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neutralzombie
Posts: 8629 - Karma: 606
i really can't tell if i should just stop logging on. it astounds me further to find the number of people who are just completely misinformed, or completely heartless.


people work better when they are more rewarded, and if they are working with a team with leadership. not everyone who works in fast food is a teenager. not everyone who makes minimum wage is in a fast food job. bus boys make min wage, their jobs fucking suck.

i can see that a lot of you don't pay for your own education, or pay your bills, or rent. if you did, you'd probably think that a decent wage is worth it. also yeah it'll cost companies more money, but they don't need to be wealthy, my personal opinion, and to boot, people with more money, means a better economy. you can't build an economy on nothing. i think that's obvious.
Feb 14 2013 3:24PM
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7-11_Slurpee
Posts: 1142 - Karma: 1,552
How many people above the age of 18 does this really affect? I've been making $9.00/ hour since i was 16.
Feb 14 2013 3:24PM
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accualyisdolan
Posts: 3295 - Karma: -192
Has to be a troll
Feb 14 2013 3:27PM
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deleted5
Posts: 14507 - Karma: 13,507
didn't even click the link, but it's true. NZ has a higher cost of living.
Feb 14 2013 3:43PM
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ABinThe603
Posts: 529 - Karma: 126
I make $7.50 as a 16 yo ski instructor, and my supervisors have been working there for 8-10+ years make $9.50 or so. Interesting to see how jobs would shift their pay scale.
Feb 14 2013 4:01PM
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howlongcanausern
Posts: 4982 - Karma: 1,737
but that would involve paying people what they are worth...can't be havin that sonny boy! we have minorities and a certain gender to pander to!
Feb 14 2013 4:03PM
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Gapper_gene
Posts: 55 - Karma: -160
the last raise in minumum wage was july 24th 2009 so think of the inflation that hapend from then to now almost 4 years gas went up alot... food went up alot, and anything you want to do pretty much went up...... if they raise minumum wage (wich alot of teens make and teens spend alot of money) they will buy more things and that means from local stores usually because they dont have debit or credit cards usually
just my opinion
Feb 14 2013 4:05PM
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volvotom
Posts: 2045 - Karma: 712
Based on CPI, inflation has been low and relatively stable

http://data.bls.gov/pdq/SurveyOutputServlet?request_action=wh&graph_name=CU_cpibrief





Feb 14 2013 4:20PM
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Park_Ranger
Posts: 3825 - Karma: 8,635
? The group that is hurt most by minimum wage is by far low skilled african american workers.
Feb 18 2013 12:17PM
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Park_Ranger
Posts: 3825 - Karma: 8,635
after reading your "economic analysis" of this thread, and of minimum wage policy in general, it couldn't me more clear to me that you are severely misinformed and actually know nothing/very little about economics.
Feb 18 2013 12:21PM
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Dustin.
Posts: 13839 - Karma: 7,704
Why do you say "they don't need to be wealthy" as if every business bound by that law is a fortune 500 company? There are a shitload of struggling people paying minimum wage as well. This is not a one way street.

Minimum wage should be set in accordance with inflation and reasonable reward for extremely easy to do jobs, not because being a busboy sucks. I'm not arguing what it should be, just saying your logic is off the wall.
Feb 18 2013 12:26PM
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skiminnesota
Posts: 9093 - Karma: 429
i really cant tell if i should just stop logging on. it astounds me to find the number of people that are just completely uneducated about economics, or just completely clueless.

people dont always work better when they are rewarded more. Ever read about a backward bending supply curve of labor? http://en.wikipedia.org/wiki/Backward_bending_supply_curve_of_labour

tell me it doesnt apply to your life? I havent reached the point in my life that it applies, but thats because im a money grubbing ass.

companies dont need to be wealthy? WTF is that supposed to mean? where are they supposed to get the capital to improve, or hire people, or shit, run their day to day operations? the capital fairy?
Feb 18 2013 2:18PM
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Campeador
Posts: 7516 - Karma: -1,227
Government playing with the numbers, CPI is not a reliable index.

No inflation? This is just common sense.

Click for larger image
Feb 18 2013 4:24PM
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Campeador
Posts: 7516 - Karma: -1,227
Obama wants to inflate the currency into oblivion, this is just further proof of that.

A good case study is the 1920s Weimar Republic.
Feb 18 2013 4:27PM
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Campeador
Posts: 7516 - Karma: -1,227
The only thing keeping the dollar somewhat stable is the dollar's continued status as the world's reserve currency, and with so much uncertainty elsewhere, people and other nations are still using it as a safe haven. Without that, the dollar is nothing.
Feb 18 2013 4:29PM
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THUNT836
Posts: 1393 - Karma: 1,033
irrelevant. i already make 15ish with tips at the club doing such little work it almost feels like stealing
Feb 18 2013 4:52PM
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theabortionator
Posts: 51644 - Karma: 162,260
Instead of worrying about the minimum wage how about we get rid of the federal reserve.


If they stop printing shit loads of paper monopoly money, we won't get raped by inflation, and the cost of everything won't continue going up this fast.


The problem really isn't the wage, or even the cost of living(outside of the USD)

We print out money, the USD is worth less so things cost more. The price of things goes up per USD so now we're talking about raising the minimum wage again to combat this.


Just stop being a bitch and cut it out at the source. Unfortunately the presidents and most of the government we've had for years are fucking horrific.
Feb 18 2013 5:02PM
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yewwwwwww
Posts: 182 - Karma: 46
I beg to differ,

There is significant productivity gains from higher minimum wages. The minimum wage debate is conducted around ideological grounds not actual data.Australia has a minimum wage of $15.96 and an unemployment rate of 5.4%.

All of the research into minimum wage up to about 1990 and some as late as 1999 (which was done by the OECD) used employment to population ratio as the dependent variable, and as most people don't earn the minimum wage this ratio overstates the effect that minimum wage increases have on employment. You can read more here - James, M., Wooden, M. & Dawkins, P. (2001). Minimum Wages and the Fallacy of the Inflated Denominator. Economic Papers 20, 59–70.

This data is for Australia but elasticity for labour demand ranges from -0.03 to -1.04. This is due to how the studies estimate their equations, namely how they treat output as a variable. If output is held constant they have a lower elasticity, while when it is not held constant it leads to higher elasticity. Most of these studies have been found to have an endogeneity problem with the dependant variable as output was only found to be exogenous when it was held constant so the elasticities at the higher end are overestimated.

So almost all studies show that elasticity demand for labour is negative but the actual change in employment is so small as to insignificant. This is because most people earn a wage higher than the minimum, which lots of posts here already point out, the effect of imposing a minimum wage increase is to increase the wages only of those would would receive the lowest wages. The effect on the average wage is so small which is why the impact on employment is also small.

The imposition of minimum wages affects only those in low skilled, low paid jobs. These individuals are, generally, very poor substitutes for the majority of the workforce and, therefore, minimum wages have little impact on the wages and employment of most workers. However, those workers earning just above the minimum wage are highly substitutable for those who would otherwise earn below the minimum. This is because although there is still a skill differential between them, the jobs are still, relatively, unskilled. 

So minimum wage increases may lead to substitution of lower skilled workers with higher skilled workers but total employment is responsive to changes in average wages and the minimum wage does not affect average wages substantially. Firms hire extra labour when the value of the extra output produced is greater than the wage. So as long as firms are producing goods and services that the economy is demanding firms will still employ workers as wages rise.

There is a massive body of work surrounding this topic, I support strong minimum wage laws even though I has always earned more. Others don't and that is their prerogative. This area is more complicated than "higher wages = less jobs".
Feb 19 2013 8:47AM
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BrewskiJr
Posts: 5738 - Karma: 1,478
I'm sorry. I'm doing a huge research project on extrinsic motivation in the workplace and you couldn't be more wrong. Extrinsic motivators actually hinder a persons intrinsic motivation (AKA in the end money/benefits actually lower a persons inner motivation to legitimately want to work harder for his/her employer). If you want proof I will be happy to provide a dozen peer-reviewed scholarly articles.

Feb 19 2013 9:06AM
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TOAST.
Posts: 7481 - Karma: 36,055
I could see a small raise to like 7.50 or something but to 9$ is rediculous. I could definitely see this affecting my job. I would get leas hours along with everyone I work with. Hell I don't deserve 9$ an hour for what I'm doing, and a lot of.people making minimum wage dont either. If you want a raise work harder and hopefully your boss will notice and compensate you, if they don't find a different job because if you are a hard worker it shouldn't be hard to make over minimum wage.
Feb 19 2013 9:36AM
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