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Federal Reserve Says State Minimum Wage Hikes Have Cost Up to 200,000 Jobs

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posted on Dec, 25 2015 @ 12:09 PM
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originally posted by: BrokedownChevy

This is what people aren't getting. You have a girl with a degree in molecular biology making 13.50 out of college and at the same time the government loaned her $40k to get the degree.


There is another side to the coin called skill too, but where is she working? Is she making 13.50 as microbiologist? I hire college grads all the time, it doesn't mean they are skillful too and so they take just as much training as a non-college grad does. About 80% of degrees today are block fillers that really do not add much to the job, so yes a degree does help to get your foot in the door but I have non-college degree people that make more than college degree people...


How is she suppose to pay down her debt? The debt keeps rising as she has to get back into school to get further educated so she can make enough to pay off her original debt. So now you're in school for 7 years, not in the labor pool, and you're competing for less and less available positions as your education demands it.


Not the employers problem. The student is the one that took the hook line and sinker from the college that told them "this degree is a 100k a year job"..lol right.



This is the story of so many people. Most likely she decides to stay in school. Then comes the PhD (still not making money) and finally the post doc (might make some money here). She was just in school for over 10 years before she started affording to pay off her debt. How can this be?


Just think if she took a plummer appendices job she would be over a 100k a year (if she was good) within 3 years..hmmm how does that work. Once again so she was in school for 10 years..her choice, ask Obama why her jobs are in India.



Such an advanced education, but no way to get ahead. Even the jobs she gets after all this hard work won't pay that great even if she is able to find a position that fits her experience. The government is too busy sinking money into people who won't contribute unlike this girl who wants to contribute. Instead of good science funding they sink money into the military and welfare.


Join the military then, I did and it has paid off quite well for me.
edit on 25-12-2015 by Xtrozero because: (no reason given)




posted on Dec, 25 2015 @ 12:15 PM
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originally posted by: Vector99

originally posted by: Eilasvaleleyn
a reply to: Vector99

I don't quite understand where you're coming from. You don't seem to be suggesting that what currently exists is actually a free market, no one would be that stupid, so I'm not sure where your first statement comes from. I'm not claiming to be highly educated in regards to business, I just know that the current system is not a "free market."

It is a free-market for those that can afford it. There are loop-holes everywhere. Free-trade agreements cover the gaps that the "free-market" doesn't allow. Such as sweatshop labor, it isn't available to you or I on the "free-market", but to a large corporation it is.


Lets define "free market", because I don't think we're on the same page. "A free market is a market economy system in which the prices for goods and services are set freely by consent between vendors and consumers, in which the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority"

That system does not currently exist. Factors such as lobbying and governmental regulation, monopolies, and artificial price increases/bargaining between competing yet cooperating businesses prevent a free market from occurring. There hasn't been a "free market" since the great depression.

Consumers drive the economy. Without people to consume, the economy stagnates. Consumer spending is anywhere from 40 to 70% of economic growth in the US depending on who you listen to, but that's essentially people-driven spending. Trickle-down economics has been a proven failure for the majority of citizens in the US. It's been great for corporations, but corporations don't drive the economy.

Now, when you have consumers that are making minimum wage or a bit above, they are at a subsistence level. This doesn't allow them to improve themselves like so many people say they should do. The price of education has risen and even if it was lower, these people couldn't afford to go to school because it's taking everything they have just to live at their currently level, which is at poverty-level or barely above it.

It makes sense to raise the minimum wage in a steady and measured rate to match inflation and GDP and then kept up with a price index that includes averages for costs of utilities/housing/food.

When you put money into hands of people making low wages, they tend to spend that money. This has a greater effect on businesses as a whole. It also tends to make people happier, which ends up increasing consumer confidence and increases consumption even more. The nature of a job shouldn't determine minimum pay. The only thing that should determine minimum pay is the cost of living. The minimum wage was instituted to allow people a good standard of living and NOT a subsistence level. It was meant to give people a chance to live their lives with dignity, allowing them to get educated or to raise a family. Anything beyond that was part of the American dream.

For people to say that those working in fast food or "unskilled" jobs shouldn't be allowed a wage commensurate with their time devoted to the job need to take a look in the mirror and ask themselves if they'd feel the same way about themselves. We need to keep in mind that minimum wage is NOT keeping up with the times and you can't afford to live on those wages.

And people are forgetting that if you can't pay the bills, you need assistance. That assistance is typically provided by government in the form of welfare or foodstamps which is funded by taxes from the American people. Businesses paying a minimum wage and fighting those increases are being subsidized by the American people. From a greed standpoint, American's should be up in arms about that, but instead they blame the people who can't pay their rent or buy their food with the wages those companies are providing because they aren't skilled enough.

America has taken a turn for the worse in regards to ethics and morality when it comes to treating people fairly. Some people are willing to throw others under the bus because they wouldn't want that person to ride the bus with them. Which says much when this argument comes 'round during the xmas holiday.

If you'd begrudge someone making enough to feed their family because the cost of gas or a burger would go up, then you're part of the problem and frankly, you're un-American...



posted on Dec, 25 2015 @ 12:24 PM
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originally posted by: grahag

America has taken a turn for the worse in regards to ethics and morality when it comes to treating people fairly. Some people are willing to throw others under the bus because they wouldn't want that person to ride the bus with them. Which says much when this argument comes 'round during the xmas holiday.

If you'd begrudge someone making enough to feed their family because the cost of gas or a burger would go up, then you're part of the problem and frankly, you're un-American...


Preach.




posted on Dec, 25 2015 @ 12:26 PM
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Young Millenials especially are CLUELESS on this issue. When will they, and the Leftists of entitlement culture understand that you cannot artificially increase wages with LAW, if economic environment and ability does not and cannot support it.



edit on 25-12-2015 by BatheInTheFountain because: (no reason given)



posted on Dec, 25 2015 @ 12:30 PM
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originally posted by: Tardacus
obviously those 200,000 jobs weren`t necessary,i`m not seeing a shortage of automobiles,or hamburgers,or coffee, or anything.
why would an employer eliminate a job position that was necessary just because the minimum wage went up?
if it takes 3 people to run a starbucks coffee shop and they eliminated one of them then coffee wouldn`t get made or supplies wouldn`t get reorder etc.so obviously the jobs that were eliminated weren`t necessary to keep the business going.


No, they will expect you to step up your duties and work twice as hard, plus twice as many hours to run that coffee shop with two people. If you can't do it then you get fired and someone else with faster skills will be hired instead.

I've been through this myself, in another retail environment.
edit on 25-12-2015 by texasgirl because: Phone error



posted on Dec, 25 2015 @ 12:30 PM
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originally posted by: BatheInTheFountain
Young Millenials especially are CLUELESS on this issue. When will they, and the Leftists of entitlement culture understand that you cannot artificially increase wages with LAW, if economic environment and ability does not and cannot support it.




Of course you can set a minimum wage. We have done so in the past, many times.

The same complaints about economic ruin, are always made, and they are always inaccurate.



posted on Dec, 25 2015 @ 12:30 PM
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And remember, Clinton, Sanders, Pelosi, Boxer, Dean, Wasserman Shultz.....all want this policy to be enacted across the board...nationwide...along with free health care and education for foreign Nationals...aka..Illegal Immigrants.

Big Unicorn and Rainbows fantasy of the Left...meets reality



posted on Dec, 25 2015 @ 12:34 PM
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originally posted by: Gryphon66

originally posted by: BatheInTheFountain
Young Millenials especially are CLUELESS on this issue. When will they, and the Leftists of entitlement culture understand that you cannot artificially increase wages with LAW, if economic environment and ability does not and cannot support it.




Of course you can set a minimum wage. We have done so in the past, many times.

The same complaints about economic ruin, are always made, and they are always inaccurate.


And that Minimum wage has always correspond with living costs, housing, goods, services, energy...all which have gone UP.

Going from a wage of 8 and hour, to 15...nearly DOUBLE overnight, will tank most small business employers.

It can't work just by the sheer data
edit on 25-12-2015 by BatheInTheFountain because: (no reason given)



posted on Dec, 25 2015 @ 12:38 PM
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a reply to: BatheInTheFountain

Who has ever suggested such an increase "overnight"? Or apart from other adjustments to regulations to assist the smallest business owners that might, indeed "tank" if their margins are so narrow.

Are you willing to have minimum wage based on a "standard of living"? If so, which one would you favor as the measure?

In a mixed economy, business either adjusts to government regulation, or it goes under. Regulations made without consideration for both "sides" (which no one is recommending that actually suggests a change in minimum wage structures) are as ridiculous as merely crying "it won't work."

No employer would ever adjust to any sort of employee benefits without some compulsion and compensation. The benefits of a living wage are numerous.
edit on 25-12-2015 by Gryphon66 because: (no reason given)



posted on Dec, 25 2015 @ 12:48 PM
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We would do more good for the low wage earners by backing our currency with something and halting inflation than we would by raising the minimum wage again.

The reason the cost of living keeps rising is because our currency is inherently worthless and it devalues more and more every year. Back when we were on the silver standard the cost of living was much less and the middle class was much stronger. We need to go back to that.

We should also abolish the federal reserve and place control of our money in the hands of Congress. Who would you rather have in control of your money supply - a private entity that doesn't answer to you, or your elected representatives?



posted on Dec, 25 2015 @ 12:49 PM
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a reply to: Gryphon66

1) The government does NOT care about the business owner, neither does the VOTER, like you, when ballot initiatives and swipes of a pen can OVERNIGHT....DOUBLE...the cost of business through a wage hike.

Do NOT tell me that people like YOU and the government CARE about what "success" I, as a small business owner attain. I refer to the VERY article we are commenting on as proof.

I know the "system"...I deal with government and the Franchise Tax Board WEEKLY...they are parasites. And voters that support this are parasites...because nobody who is not EDUCATED in business or actually runs one knows what the HELL they're talking about.

I'm so sick of you Pie in the Sky types. While I sit here in dire need of secondary assistant/shipping agent and have to think about laws like t his versus actually growing my business and HIRING people

You, like many of the glary-eyed entitlement brats on this thread......SUCK!!!


edit on 25-12-2015 by BatheInTheFountain because: (no reason given)



posted on Dec, 25 2015 @ 12:58 PM
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I'm so sick of entitlement brats, the same people who usually support big government taxation, huge penalties and fees, huge regulations, huge inflationary policies, rate hikes, etc etc etc....telling US business owners...that almost DOUBLING wages would be so "awesome" without even consulting us or looking at our books.

Screw you.....point blank. I literally almost have hatred for you



posted on Dec, 25 2015 @ 01:00 PM
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a reply to: BatheInTheFountain

It's absurd to claim that "the government" doesn't care about business owners.

It's fallacious for you to claim that I don't care about business owners as well ... I am one.

"People like me"? What silly ad hom BS are you trying to scatter in now?

If your abilities to run your business cannot adapt to change ... that's your issue, not ours.

Pie in the Sky types? LOL. You're bringing a whole wagon-load of baggage in here that simply doesn't apply.

If you can't figure out how to make your business work while paying a living wage to your employees ... I guess the market will take care of you ... for there are those who can and do.

LOL ... I "suck"? Well, maybe, but that's a personal matter ...

(Maybe take a nap? You seem distressed.)



posted on Dec, 25 2015 @ 01:04 PM
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originally posted by: Gryphon66
a reply to: BatheInTheFountain

It's absurd to claim that "the government" doesn't care about business owners.

It's fallacious for you to claim that I don't care about business owners as well ... I am one.

"People like me"? What silly ad hom BS are you trying to scatter in now?

If your abilities to run your business cannot adapt to change ... that's your issue, not ours.

Pie in the Sky types? LOL. You're bringing a whole wagon-load of baggage in here that simply doesn't apply.

If you can't figure out how to make your business work while paying a living wage to your employees ... I guess the market will take care of you ... for there are those who can and do.

LOL ... I "suck"? Well, maybe, but that's a personal matter ...

(Maybe take a nap? You seem distressed.)


I HIGHLY doubt you're a business owner. Nobody in any group I belong to speaks to other owners with the "keep up or get out" animosity you do.

Secondly, no business owner would call GOVERNMENT mandates over wages, and strokes of a pen as "The Market"

You're a fraud.



posted on Dec, 25 2015 @ 01:04 PM
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a reply to: BatheInTheFountain

Tax the rich...


...they will not go hungry!



posted on Dec, 25 2015 @ 01:05 PM
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originally posted by: AlaskanDad
a reply to: BatheInTheFountain

Tax the rich...


...they will not go hungry!


Yeah, "The Rich"....anyone who makes over 80 grand a year these days.



posted on Dec, 25 2015 @ 01:07 PM
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a reply to: AlaskanDad

Taxes fuel inflation.




posted on Dec, 25 2015 @ 01:10 PM
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a reply to: BatheInTheFountain

Who cares what you doubt?

Just because you and your Republican cronies can't run a business reasonably doesn't prove anything about me.

You and your "friends" are the measures of all things? LOL ... what a joke.

Ever heard of a mixed economy? You know, the basis of every modern national economy?

There are just as many "guvment regulations" that benefit business owners.

You're a overwrought political hack who doesn't want to come off any of his profits while you're screwing your workers.

/shrug

edit on 25-12-2015 by Gryphon66 because: (no reason given)



posted on Dec, 25 2015 @ 01:11 PM
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a reply to: Gryphon66

Fraud who's pretending to be a biz owner...says what now?



posted on Dec, 25 2015 @ 01:12 PM
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a reply to: BatheInTheFountain

I'd rather see the big boys pay, through the wazzu, rather than those making under $250K paying too much.


edit on 25-12-2015 by AlaskanDad because: K



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