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If bread was .08 a loaf would you be complaining about $7.50 per hour minimum wage? No. Thats why my chart is 100% relevant.
Everyone that thinks raising the minimum wage is a good idea, PLEASE TELL ME why it shouldn't be $1,000 per hour?
I have made many points. The current one being that you won't tell me why minimum wage shouldn't be $1,000 per hour because you will make my point for me.
$10.10 is an arbitrary number just like saying minimum wage should be $1,000 per hour. thats my point.
And based on the inflation adjusted minimum wage chart posted above, minimum wage workers and now grossly overpaid based on historical standards.
I am the one that defined inflation in this thread. Inflation is your dollar losing 98% of its purchasing power since 1913. That is inflation. Inflation is CREATED by people, and only affects fiat money. Now that you know what inflation is you can be part of the discussion.
Example, why has the dollar lost 98% of its purchasing power since 1913 while gold has retained all of its purchasing power throughout history? Because the fed cannot print and manipulate the supply of gold.
Back to minimum wage. $10.10 is above the inflation adjusted amount posted in the graph above, which I do know how to read. So minimum wage is higher than it should be, even if you are in the camp of people who think you are entitled to some magical standard of living.
Raising the minimum wage results in people losing their jobs or prices of goods increasing. Those are the only two possible economic outcomes whether you like it or not.
Price of on ounce of gold 1913 $20.64
Price of an ounce of gold in 2014 $1295
Don't cherry pick dates it renders your argument invalid.
That chart actually proves my point, thanks. Compare that to the chart of the dollar, going straight down. Which has held its purchasing power?
Bottom line is increase in minimum wage = inflation. Either through higher prices or lower quality goods. Inflation=your dollars are worth less. There is no other outcome.
Nobody has made a valid argument in this entire thread for increasing minimum wage.
How is something that has lost 98% of its value just as unstable as something that has not lost value and is simply volatile?
Oh its so nice of the fed to control your currency! Wow. Hey give me your checking account number and I'll control it for you, I won't screw you and take your money, promise.
Just because the fed doesn't physically take money out of your account DOES NOT mean they don't steal your money. I have provided a lot of information proving your money is being stolen everyday through inflation. And Obama just took some more of it with this legislation.
Minimum wage should be abolished. You earn the value you provide to your company. Don't like what somebody else is willing to pay you, start your own company and pay yourself. Then see how much of your companies earnings you want to give to people, you will give them exactly what they are worth to you.
Minimum wage is also the reason manufacturing moved to China, costing jobs. Like I said, either higher prices or lower quality goods.
