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Top Economists Are Backing Sen. Bernie Sanders on Establishing a $15 an Hour Minimum Wage

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posted on Jul, 26 2015 @ 08:06 PM
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Well...this would NEVER HAPPEN, but what I think would work is...

1. Raise min wage by a %

2. Mandate everyone under 100k also be given a raise by a certain %

3. Federally mandate that NO prices can be changed. NOTHING can cost more.

We'd see more people spending more money, demand for products would go up and the rich would still make a lot more money.

Is this wealth redistribution? Hell yes it is -- this is why it'll never happen.

When more people have more money, more stuff is bought. When more stuff is bought, demand rises. When demand rises, more jobs are created. When more jobs are created, more money is spent. When more money is spent, demand rises...ect, ect...
edit on 26-7-2015 by MystikMushroom because: (no reason given)




posted on Jul, 26 2015 @ 08:07 PM
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a reply to: onequestion

I don't think anyone is saying they are worthless mate...

In college you can get a degree in map making using the GIS software which is pretty big right now. You then apply for a city with a population of 20,000 people who needs just a guy. That guy will start out at less than 15 dollars an hour most likely but has the potential to make maybe 25 on the upper end. Using the software is a technical skill...it takes time, education and training to learn it. Why should that guy make the same amount of money as a fast food worker? In fact most fast food places have such high turn over that if you stuck it out you would be a shoe in for management...and they make quite a bit...however often work 60 hours a week.

I feel like if these guys don't get a pay raise then its kind of a slap in the face to them....

Which may lead to this: In Germany most people that work any kind of job need a schooling for that particular job. Any Germans here can feel free to correct me if im wrong. But if you want to be a kindergarten teacher you go to kindergarten teaching school....hotel clerk...hotel clerk school....police...police school...with most schools being 3 years long. Now they put out the most competent workers on the entire planet that I have ever seen but the down side is...if you want to change careers you have to go back to school. This is where America is headed. If they aint going college...someone is getting their money some how...you will now be forced to go to fast food worker school which will be X amount of years long and cost X amount of dollars. Oh we will all get 15 bucks an hour but they will find a way to make that money back.



posted on Jul, 26 2015 @ 08:07 PM
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a reply to: AlaskanDad

The Federal minimum is too low in my opinion as compared to my home State at $9.47. The issue of the time frame and projected increases immediately brings to mind impact on small business owners and mom&pop places. What works in Seattle will not work in Billings.

Are the increases predicated upon number of employees, gross profit, etc? Have there been impact studies done, and if so, what was the projected rate of jobs gained/lost and business closures? Demographics and regional economies have weathered rises of past minimum wages, but from $7.25 to $10.50 to $15.00 in less than 4 1/2 years?

I wonder if the proposed National Min. wage repercussions will mimic Seatlle's:

www.forbes.com...
shiftwa.org...
www.westernjournalism.com...
news.heartland.org...



posted on Jul, 26 2015 @ 08:11 PM
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originally posted by: AlaskanDad

Today the corps (corporations) reap record profits, the worker earns less and less, one must question why this is?


"Small businesses make up:
99.7 percent of U.S. employer firms,
64 percent of net new private-sector jobs,
49.2 percent of private-sector employment,
42.9 percent of private-sector payroll"

www.sba.gov...

It's easy to point the finger at corporations, since it has become in vogue to trash them. But, what of small business? When the magic wand is waved, where does that leave them and their employees? Here's a little simple math to give you an idea.

Acme Mfg. has 50 employees at 5 pay scales, with 10 employees in each. The lowest is $7.25 and each level is $2 higher than the one below. The hourly wages are: $7.25, $9.25, $11.25, $13.25, $15.25. That's $562.50 every hour of every workday, $4,500 per day, $22,500 per week.

If the lowest scale is raised to $10, it now exceeds the second scale, so it must increase proportionately (about 38%). The second level now pays $12.75 and guess what. Yep, every pay scale must increase.

Acme now pays $775 each hour, $6,207 per day, $31,036 per week. Their wage costs just increased by almost $450,000 per year. Congratulations. How many will now lose their jobs? How else will Acme make up the loss?



posted on Jul, 26 2015 @ 08:13 PM
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a reply to: WTFover

What was the impact on the economy when they implement the minimum wage in the first place?

Any takers?



posted on Jul, 26 2015 @ 08:13 PM
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a reply to: WTFover



Yep, every pay scale must increase.

No. The workers will be perfectly happy to ignore their seniority so that new hires can make a "living wage."

Or, they'll be pissed off and productivity will decline.

Either way, the company will sort of go away leaving no one with a job.




edit on 7/26/2015 by Phage because: (no reason given)



posted on Jul, 26 2015 @ 08:16 PM
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a reply to: Boscowashisnamo

I'm kind of thinking along similar lines. If I am a big chain store or corporation I actually might support it. I have money to pay the increase while further automating, outsourcing, or whatever else I will do to adjust and a bunch of of smaller mom and pop competition gets put out of business with out me doing a thing or looking bad. Something needs to happen, what I am not sure of. But I think this will be the least of our worries coming soon to a theatre near you



posted on Jul, 26 2015 @ 08:16 PM
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Most people I know that work for "corporations" work in retail or some kind of service industry like a restaurant chain or big box store. There are only so many managers and assistant managers in those places.

Also, not everyone has the personality to be a manager. Does that mean they should never make any money if they're a dedicated, hard worker for that company?

I certainly don't want to live in a world full of manager-type people. God, imagine if everyone had an a-type personality.



posted on Jul, 26 2015 @ 08:17 PM
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a reply to: Reallyfolks

What mom and pop shops?



posted on Jul, 26 2015 @ 08:18 PM
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posted on Jul, 26 2015 @ 08:20 PM
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originally posted by: nwtrucker
a reply to: AlaskanDad

I guess I won't be buying hamburgers any more.....


minimum wage adds anything from ZE RO to about $1.30 to the cost of a big mac....depending how much extra automation Macca's chooses to use.....

if that stops you buying burger then that is probably because you are on min wage......so perhaps you need the raise too!!



posted on Jul, 26 2015 @ 08:21 PM
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a reply to: onequestion

LMAO, cheeseburgers and steak and eggs...for decades...



posted on Jul, 26 2015 @ 08:22 PM
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a reply to: onequestion

Local businesses, food joints, book stores, toy stores, small grocery stores. The type of businesses in many smaller towns and other small businesses across the nation. Maybe?????



posted on Jul, 26 2015 @ 08:25 PM
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Top Economists Are Also NOT Backing Sen. Bernie Sanders on Establishing a $15 an Hour Minimum Wage

Want to watch economists fight? Bring up the minimum wage

Economists disagree on nearly every aspect of the policy: how many people will be affected, who those people are, how much they will be affected and what the minimum wage does in the U.S. economy.

www.pbs.org...
edit on 26-7-2015 by OccamsRazor04 because: (no reason given)



posted on Jul, 26 2015 @ 08:26 PM
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originally posted by: MystikMushroom

3. Federally mandate that NO prices can be changed. NOTHING can cost more.

We'd see every single business operating on small margins out of business and a massive amount of jobs lost.



posted on Jul, 26 2015 @ 08:26 PM
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a reply to: OccamsRazor04

So, it is not so top economists then?
www.abovetopsecret.com...



posted on Jul, 26 2015 @ 08:29 PM
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a reply to: Reallyfolks

Would that include McDonald's franchisees?



posted on Jul, 26 2015 @ 08:29 PM
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a reply to: onequestion

I disagree during the Global financial crisis every taxpayer got $900 here in Australia which created consumer spending and in turn growth and we avoided the worst of it,fiat currency depends on growth and that is not happening in the US as your workforce has been nickeled and dimed to the point real income has not gone up in years.You've given trillions to zombie banks but nothing to consumers and that is going to manifest badly...soon.



posted on Jul, 26 2015 @ 08:30 PM
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a reply to: khnum
Bread and circuses! Yeah!
That's been working out really well for Greece.



posted on Jul, 26 2015 @ 08:32 PM
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Full-service restaurants at all levels spent about ... 33 percent on salaries and wages

Those with checks under $15 showed a profit of 3 percent. Those with checks from $15 to $24.99 boasted the highest profit margin at 3.5 percent. Finally, those with checks of $25 and over had the lowest profits, at 1.8 percent.

Limited-service restaurants devoted ... 29 percent went to salaries and wages
Profit before taxes was also the highest for any type of restaurant, at 6 percent.


Every single restaurant would be out of business if they increased wages without being allowed to increase prices.




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