Minimum Wage

[ReignOnU]

I rarely, if ever, speak about politics on this (or any other) forum. I'd like to do my best to keep politics out of this discussion (at least the C/L, R/L, D/R aspect of it).

Today, the Obama twitter account tossed this out:
@BarackObama: "Nearly 3 in 4 Americans—about half of all Republicans—support raising the minimum wage." —President Obama #RaiseTheWage #OpportunityForAll


Where do you stand on the issues concerning minimum wage? What should the federal minimum wage be moved to? ($10? $15?) What impact do you believe it has on businesses? What impact do you believe it will have on the lower and middle class? What impact do you believe it will have on the economy?

[LetsGoPeay]

In the short term, it may have a positive impact on people but that's only until prices catch up to the new wages. People who think a higher minimum wage will mean a better life have little to no understanding of basic economics.

[shel311]

It feels like Reign is trying to get us to write some sort of paper for one of his classes he's taking.

[cougnix]

Unions and some legislators are trying to push for a $15 minimum wage here in Washington. I understand their thoughts, but holy hell, we are going to be outsourcing everything in the US soon...Even McDonalds will outsource...Scary...

[ReignOnU]

It feels like Reign is trying to get us to write some sort of paper for one of his classes he's taking.

I manage about $630m in payroll expenses for a major retailer. I've done a rather large amount of research on this and the ACA. I've seen a few debates on this and I find both sides of the argument to be quite interesting.

[nick]

Toronto's min wage is gonna be $11 in July i think. They are gonna change it yearly due to inflation (and im sure much more)

[ajalves]

Toronto's min wage is gonna be $11 in July i think. They are gonna change it yearly due to inflation (and im sure much more)

so about the same as ours when the extra taxes figured in

[trendon]

Edit: I'll just take Peay's perfect response as a +1

In the short term, it may have a positive impact on people but that's only until prices catch up to the new wages. People who think a higher minimum wage will mean a better life have little to no understanding of basic economics.

[DRiccio21]

minimum wage should be 0

[ReignOnU]

Our small sample size doesn't appear to be on par with Obama's 3/4.

[jsence2]

Not to mention that corporations that answer to shareholders will have to find ways to keep profits where they are, which means more work on people and fewer benefits/employees.

Then you have the people who make more than minimum wage who will see the gap shorten, and they will thus want a raise (I only make $1 more than a fast food worker, yada yada).

The wages being taken home aren't the problem, inflation is. We're fighting one of the symptoms of the disease rather than the disease itself. That's like someone who is depressed taking a new medicine every week to feel a little better, rather than getting therapy and dealing with the main source of the problem.

[DRiccio21]

we are at the plateau/decline in terms of our countries growth cycle overall. that is what causes things like this to occur.

its very natural. our mindsets as Americans at this point is typically of entitlement. think about our grandfathers and what they were willing to fight for or people in Ukraine and what they are willing to fight for now. as we 'get what we want' our growth eventually peaks and we become lazy as a society and we get passed by those who are hungrier than us. i know very few of us would ever consider fighting for our country at this point unless we were truly forced into it. very few of us would move our families to a different country if it meant better opportunity, etc.

most people believe they 'deserve' a minimum wage regardless of their work ethic, they deserve health care, they deserve a home to live in, they deserve food. we have created a segment of society that is a beggar class. i never EVER wish harm upon anyone and i hope everyone gets the dreams they want but that's not reality and its counterproductive to growth. and growth is what naturally raises wages and turns lower class into middle class.

it happens in all aspects of life, not just gov't. it happens when you go to the gym, it happens in marriages, it happens in companies growth, everywhere. people who end up being 'great' or relationships that end up being 'great' are the ones that can figure out how to recreate growth. otherwise they reach a peak and fail or fall of.

point of all that is we are a society that believes we are entitled to things... you can point fingers all you'd like but much of it is natural. having things like raising minimum wages and 'free' healthcare do speed up the decline tho. the amazing part of our country is that it was founded on freedom and capitalism which make us able to sustain our growth longer than most civilizations have been able to. unfortunately the more we entitle, the less incentive their is for risk taking and growth. and losing that incentive is what causes civilizations to decline and eventually fall off.

[trendon]

minimum wage should be 0

Riccio and I agree?!

Obama should be indicted on charges and this would be exhibit A.

[dakshdar]

I've never taken the time to understand wage scale changes and the impact on the overall economy.

In general, I don't understand how real estate housing prices can fluctuate so dramatically in such a short term either.

I'm not certain there is anything wrong with the current minimum wage if everything else in society wasn't on a skyrocket into space for general cost.

In 1994, Federal Min Wage was $4.25 per hour. The PS1 released at a price of $300. Your average LA county home was $190k.
In 2010, Federal Min Wage was $7.25 per hour, a 70% increase. The PS3 released at a price of $600, a 100% increase.
In 2013, Federal Min Wage was still $7.25 per hour, just a 70% increase since 1994. But the average LA county home cost was over $400k, at 110% increase. But, the PS4 releases at just $400, only 33% more than the PS1.

I make no sense of any of this, I just don't understand it in general.

One article cited that only 2% of Americans are making minimum wage. Clearly, you can't afford much on minimum wage, but you'd think there would be housing options that are affordable for that 2% because someone can build it and sell it for a profit. Would I want to live in a house you can afford on minimum wage, no, but someone making minimum wage would.

I don't have the data, trends, impact assessments, or projections to be even remotely knowledgeable on how changing the wage will even impact the country.

[sixpackdan101]

Minimum wage should be a million dollars an hour. That way everyone can be rich.

[The_Niddler]

Upping the minimum wage a little I could understand, but when they talk about making minimum wage $15/hour, come on.
As Peay posted, people do not understand basic economics.

If you up the minimum wage that high, everything else goes up.
Gas becomes $6-$9 a gallon, Milk will be $7-$9 a gallon.....so in the end, our life goes right back to where you were.

The people that think, hey, if minimum wage was $15/hour, I would be able to pay all my bills and live a little compared to just getting by now....ummmm....no.

[OracleHCR]

People who think a higher minimum wage will mean a better life have little to no understanding of basic economics.

Exactly.

[Seeitsaveit13]

I've never taken the time to understand wage scale changes and the impact on the overall economy.

In general, I don't understand how real estate housing prices can fluctuate so dramatically in such a short term either.

I'm not certain there is anything wrong with the current minimum wage if everything else in society wasn't on a skyrocket into space for general cost.

In 1994, Federal Min Wage was $4.25 per hour. The PS1 released at a price of $300. Your average LA county home was $190k.
In 2010, Federal Min Wage was $7.25 per hour, a 70% increase. The PS3 released at a price of $600, a 100% increase.
In 2013, Federal Min Wage was still $7.25 per hour, just a 70% increase since 1994. But the average LA county home cost was over $400k, at 110% increase. But, the PS4 releases at just $400, only 33% more than the PS1.

I make no sense of any of this, I just don't understand it in general.

One article cited that only 2% of Americans are making minimum wage. Clearly, you can't afford much on minimum wage, but you'd think there would be housing options that are affordable for that 2% because someone can build it and sell it for a profit. Would I want to live in a house you can afford on minimum wage, no, but someone making minimum wage would.

I don't have the data, trends, impact assessments, or projections to be even remotely knowledgeable on how changing the wage will even impact the country.

Gotta look at products like milk, bread, and gas. Those are better baselines and will help show the inflation better. I know you were just offering quick examples, I was just saying for further research. Housing prices are nuts though, they seem to be tied to next to nothing

[ReignOnU]

You guys are absolutely no fun at all. Stop agreeing with each other.

Where the hell is the 75%? Silly 25%'ers.

[Cnasty]

You guys are absolutely no fun at all. Stop agreeing with each other.

Where the hell is the 75%? Silly 25%'ers.

The NDL is rich!!!!

We dont worry bout no minimum wage.