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Let's talk about the minimum wage Let's talk about the minimum wage

06-18-2012 , 01:58 PM
Quote:
Originally Posted by suzzer99
Sure I'll just start up my own sample processing lab in my garage, then convince a major drug company to use me for their clinical trials. No problemo.

I agree with you in general that you have to show some balls and start your own company if you want to make the big $$. But for this product that idea is a non-starter.

I have yet to stumble across the great idea that makes me want to start my own company. And I'm not going to move to sili valley and work 80 hrs/week for that 10% chance or so I might strike it big. I don't care about money that much. I'd like to be rich but it's not my singular consuming goal.
If both you and I don't want to start our own businesses because it is too much hard work and the fail rate is so high don't you think we should heavily compensate those who do work that hard and risk so much?

Quote:
Originally Posted by suzzer99
Just for background, bahbamickey is the supposed wealth adviser who doesn't understand how marginal tax rates work. He has no problem holding strong opinions on a multitude of subjects in which he is barely informed.
Suzzer, I don't care if you think I am a FA or a trash man. It makes no difference to me. I do understand marginal tax rates, but again don't care if you think I do or not. While important I think you overweight the importance of taxes in my line of work (either as an FA or a trash collector).

What topic are you referring to that I am barely informed?
06-18-2012 , 01:59 PM
Quote:
Originally Posted by bahbahmickey
Yes that is my point.

I would say that raising MW and higher gas prices both hurt approximately 310 million people in the US. Since both are going to raise the price of goods and services.

I think poor people have too much power?
well, dont u think being able to buy more stuff is a form of power ?


show me a link, study thst say increase MW by 1$ will have the effect u describe ?

i suggest u go in previous pages and see for yourself.
06-18-2012 , 02:00 PM
Quote:
Originally Posted by suzzer99
Obviously everyone is going to run with that idea that I think my salary should be doubled, or I'm belly-aching about not being paid enough. I may be a dumbass Keynsian, but believe it or not I'm smart enough to understand how the market sets prices for labor.

I only made that point to illustrate that it's very possible companies are reaping a lot more value from someone making MW than $7.25/hr. So lowering that to say $6.50 for a few people isn't exactly going to open up worlds of new employment opportunities, or make those positions not worth hiring for if they're $1 more.
obv. +1
06-18-2012 , 02:01 PM
Quote:
Originally Posted by suzzer99
Obviously everyone is going to run with that idea that I think my salary should be doubled, or I'm belly-aching about not being paid enough. I may be a dumbass Keynsian, but believe it or not I'm smart enough to understand how the market sets prices for labor.

I only made that point to illustrate that it's very possible companies are reaping a lot more value from someone making MW than $7.25/hr. So lowering that to say $6.50 for a few people isn't exactly going to open up worlds of new employment opportunities, or make those positions not worth hiring for if they're $1 more.
It had nothing to do with me thinking you were demanding to be paid more or whatever.

It had to do more with the fact that raising the minimum wage can result in people losing their jobs for reasons other than "not being worth" the new wage.
06-18-2012 , 02:05 PM
Quote:
Originally Posted by Montrealcorp
so lets say we have 1 car to sell for 25$.

we have 100 citizens.

lets say 1 citizens is super rich and owning 10000$ while the 99 other citizen are poor and win 10$/year from the rich guy.
after 1 year the rich guys still has 9910$ while all others have 10$, not enough to buy a car .

or if we redistributed wealth ( trough union, tax ,etc) the rich guy is force to lower a bif of is wealth by paying more is employes for example .

now each of the 99 workers gets 50$ to give them 4950$ while the rich guy gets 5010$.

obv. the rich guy is poorer but a hell lot of better than the workers.

but, now u telling me the economy isnt working better when 99 consumer/workers can buy cars now ?

their is a diminishing returns by concentrating all the wealth into few persons because few persons cant consume has much has a lot of persons.

the rich guy wont buy 99 freaking cars alone, while distributing more money at the base , the economy and better financial prospect will open up to others and not been confine to 1 person.
Why can't the 99 workers go out and work on their own? Who set the price of this car? If the car salesman is selling it for $25 and nobody has that much money he is obviously not trying to sell the car? Looks like supply and demand are a bit out of whack for the car.

So the rich guy loses $990 a year? How is he better off with any workers? Why is he paying these people so much if he is not better off?


Forcing the rich to pay $50/yr: Of course the economy isn't better off? We are lowering incentives for wealth accumulation and hard work.
06-18-2012 , 02:09 PM
Quote:
Originally Posted by pvn
It had to do more with the fact that raising the minimum wage can result in people losing their jobs for reasons other than "not being worth" the new wage.

do u agree than that raising the MW CAN RESULT in people living slightly better WITHOUT causing a job lost for the economy ?

imo its a pretty good reason to increase the MW to help other to live a better life at the expenses of not raising the MW because it can cost job in a field that has no significant effect on the general economy.

obv.....UP TO A POINT !

please just dont start with the none sense of raising it to 100$/hour...im not saying that.
06-18-2012 , 02:10 PM
Quote:
Originally Posted by suzzer99
I only made that point to illustrate that it's very possible companies are reaping a lot more value from someone making MW than $7.25/hr. So lowering that to say $6.50 for a few people isn't exactly going to open up worlds of new employment opportunities, or make those positions not worth hiring for if they're $1 more.
Lowering the labor from 7.25 to 6.50 will leave just a few more bucks in the pockets of employers to expand, grow, or use that money how ever they see fit. It also wont open up worlds of new employment today but it will most likely only see job opportunities rise a bit today and then exponentially grow in the future.

That is true raising MW only $1 more might not lay off too many people. Just like adding another $1 will only lay off a few more. Then adding one more dollar will only lay off a few more. Do you see where this is going?
06-18-2012 , 02:12 PM
Quote:
Originally Posted by bahbahmickey
Why can't the 99 workers go out and work on their own? Who set the price of this car? If the car salesman is selling it for $25 and nobody has that much money he is obviously not trying to sell the car? Looks like supply and demand are a bit out of whack for the car.

So the rich guy loses $990 a year? How is he better off with any workers? Why is he paying these people so much if he is not better off?


Forcing the rich to pay $50/yr: Of course the economy isn't better off? We are lowering incentives for wealth accumulation and hard work.

cant u see what make an economy strong is base on how many citizens can participate actively in the economy and not necessarilly base on how many billionaires a country owns?
even more so if the billionaire has to pay no tax
06-18-2012 , 02:15 PM
Quote:
Originally Posted by bahbahmickey
Lowering the labor from 7.25 to 6.50 will leave just a few more bucks in the pockets of employers to expand, grow, or use that money how ever they see fit. It also wont open up worlds of new employment today but it will most likely only see job opportunities rise a bit today and then exponentially grow in the future.

That is true raising MW only $1 more might not lay off too many people. Just like adding another $1 will only lay off a few more. Then adding one more dollar will only lay off a few more. Do you see where this is going?
capitalist is no better than any system if u let excess to happen
06-18-2012 , 02:16 PM
Quote:
Originally Posted by Montrealcorp
well, dont u think being able to buy more stuff is a form of power ?


show me a link, study thst say increase MW by 1$ will have the effect u describe ?

i suggest u go in previous pages and see for yourself.
yes....I don't see where this is going.

How could it not? If you produce cars and have have 100,000 MW workers on your factory lines and MW got increased $1/hr what would you do? a. keep the price of cars the same and start selling factories and other assets to pay for the losses b. keep car prices the same, but fire half of your workforce c. increase the price of your cars d. go out of business e. some other crafty answer that you can explain
06-18-2012 , 02:19 PM
Quote:
Originally Posted by Montrealcorp
do u agree than that raising the MW CAN RESULT in people living slightly better WITHOUT causing a job lost for the economy ?

imo its a pretty good reason to increase the MW to help other to live a better life at the expenses of not raising the MW because it can cost job in a field that has no significant effect on the general economy.

obv.....UP TO A POINT !

please just dont start with the none sense of raising it to 100$/hour...im not saying that.
No, a raise in the MW will result in the loss of jobs today and more importantly tomorrow.

Please explain to the poor family down the street that can't afford all the goods and services they used to be able to buy why they can't afford that same bucket of goods anymore. Still feel good about yourself for trying to "help" the poor and middle class?
06-18-2012 , 02:20 PM
Quote:
Originally Posted by bahbahmickey
yes....I don't see where this is going.

How could it not? If you produce cars and have have 100,000 MW workers on your factory lines and MW got increased $1/hr what would you do? a. keep the price of cars the same and start selling factories and other assets to pay for the losses b. keep car prices the same, but fire half of your workforce c. increase the price of your cars d. go out of business e. some other crafty answer that you can explain
find me anything that support ure claim.....


how much u sell the cars ?
how many worker can buy the car prior to the raise of MG?
is there any other country that can make that products?
how much $ the company owner makes in that system, because i do believe ratio is important.
how much other company pays their workers unless its a monopole?
06-18-2012 , 02:21 PM
Quote:
Originally Posted by Montrealcorp
cant u see what make an economy strong is base on how many citizens can participate actively in the economy and not necessarilly base on how many billionaires a country owns?
even more so if the billionaire has to pay no tax
Bolded is one of the problems with so many like you. You think a country owns its rich and the rich should pay for everything.

The poor and middle class ALWAYS participate in the economy... as long as they have jobs.
06-18-2012 , 02:22 PM
Quote:
Originally Posted by bahbahmickey;33341387[B
]No, a raise in the MW will result in the loss of jobs today and more importantly tomorrow[/B].

Please explain to the poor family down the street that can't afford all the goods and services they used to be able to buy why they can't afford that same bucket of goods anymore. Still feel good about yourself for trying to "help" the poor and middle class?

again nice belief but show me any link that back this up

wich group of workers gets hit by a MW raises?
how much % u think MW affect the economy, if at all?
06-18-2012 , 02:26 PM
Quote:
Originally Posted by Montrealcorp
find me anything that support ure claim.....


how much u sell the cars ?
how many worker can buy the car prior to the raise of MG?
is there any other country that can make that products?
how much $ the company owner makes in that system, because i do believe ratio is important.
how much other company pays their workers unless its a monopole?
It shouldn't matter how much the cars sell for. There are 100 other companies that make all different quality of cars, but if you have to know these cars sell for $10k.

248 million workers are able to buy the car before the raise of MW.

At least 50 other countries can make comparable cars.

The company owner makes $1 billion dollars a day.

Most car co in this country pay MW, but in other countries some pay more, but most pay significantly less.
06-18-2012 , 02:26 PM
Quote:
Originally Posted by Montrealcorp
cant u see what make an economy strong is base on how many citizens can participate actively in the economy and not necessarilly base on how many billionaires a country owns?
even more so if the billionaire has to pay no tax
Example?
06-18-2012 , 02:28 PM
Quote:
Originally Posted by bahbahmickey
Bolded is one of the problems with so many like you. You think a country owns its rich and the rich should pay for everything.
The poor and middle class ALWAYS participate in the economy... as long as they have jobs.
opps failing arguments is always followed by insult or false quote ...
where did i say the billionaires need to pay evrything ? show me please

why u think the rich dont go live in poor country where they would be even richer and pays no tax?

u think social peace is a factor ?
about solid bank that wont go broke the next week with their fortune in it?
how about being protected by a judicial system that protect them personnaly and their wealth as well ?
why u think the rich are 99% right wing and are hardcore in favor of hard judicial consequence on criminality on property ?


the second bolded part is the key.

check all the billionaires and how many of them creates job by actually creating goods ?
and not simply moving money around that dont create job but do create inflation and cost jobs !!

Last edited by Montrealcorp; 06-18-2012 at 02:37 PM.
06-18-2012 , 02:33 PM
Quote:
Originally Posted by LetsGambool
Example?
what ?

u think a country with billionaires paying less tax than more is better off without taking into account its work force ?
06-18-2012 , 02:34 PM
Quote:
Originally Posted by bahbahmickey
It shouldn't matter how much the cars sell for. There are 100 other companies that make all different quality of cars, but if you have to know these cars sell for $10k.

248 million workers are able to buy the car before the raise of MW.

At least 50 other countries can make comparable cars.

The company owner makes $1 billion dollars a day.

Most car co in this country pay MW, but in other countries some pay more, but most pay significantly less.
its matters hugely if u can say this:"
If you produce cars and have have 100,000 MW workers on your factory lines and MW got increased $1/hr what would you do? a. keep the price of cars the same and start selling factories and other assets to pay for the losses b. keep car prices the same, but fire half of your workforce c. increase the price of your cars d. go out of business "


beside working for u, those workers are consumer as well
06-18-2012 , 02:37 PM
Quote:
Originally Posted by Montrealcorp
1. again nice belief but show me any link that back this up

2. wich group of workers gets hit by a MW raises?
3. how much % u think MW affect the economy, if at all?
1. Here is a list of economics books that will help you out: http://www.amazon.com/s/ref=nb_sb_no...conomics+books
2. ALL
3. Not sure what this is asking? How much larger will our economy be w/ no MW?
06-18-2012 , 02:38 PM
Since when do autoworkers make MW?

The types of jobs that get paid MW are the types of jobs that tend to add very little value or which are very close to being replaced by automation.
06-18-2012 , 02:40 PM
Quote:
Originally Posted by Montrealcorp
do u agree than that raising the MW CAN RESULT in people living slightly better WITHOUT causing a job lost for the economy ?
Sure, it's possible that some will be better off.

It's also possible that some will be worse off.

You can't just ignore the latter.
06-18-2012 , 02:49 PM
Quote:
Originally Posted by Montrealcorp
opps failing arguments is always followed by insult or false quote ...
where did i say the billionaires need to pay evrything ? show me please

why u think the rich dont go live in poor country where they would be even richer and pays no tax?

u think social peace is a factor ?
about solid bank that wont go broke the next week with their fortune in it?
how about being protected by a judicial system that protect them personnaly and their wealth as well ?
why u think the rich are 99% right wing and are hardcore in favor of hard judicial consequence on criminality on property ?


the second bolded part is the key.

check all the billionaires and how many of them creates job by actually creating goods ?
and not simply moving money around that dont create job but do create inflation and cost jobs !!
I didn't literally mean that you said the rich need to pay for everything. It was an exaggeration based on the fact that you do not consider the rich any thought that you have.

They don't live in poor countries because they think that living in a rich country is worth the extra they pay in taxes, until it stops becoming worth it.

I don't have a # for you, but I would think a huge majority (or all) billionaires create more jobs than the avg middle class worker.
06-18-2012 , 02:49 PM
Quote:
Originally Posted by suzzer99
It's actually legal to work for $0 as an intern. It's just illegal to work for > $0, < $7.25.
Most internships are illegal. If you provide any benefit to the employer and its unpaid its illegal. This just isn't enforced.
06-18-2012 , 02:55 PM
Quote:
Originally Posted by Montrealcorp
what ?

u think a country with billionaires paying less tax than more is better off without taking into account its work force ?
No I want an example of the billionaire that is paying no tax as you continue to present untruths as facts.

      
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