reply to post by ALightinDarkness
Brother I don't know where you got your economic education from, albeit I am sure it was peer reviewed multiple times.. but..
Statements like this:
This is one of those threads that amazes me. The data on this is crystal clear. It cannot get any clearer. It is simply a fact that when you remove
artificial wages the average median wage rises and quartile median wages rise across all sectors. This happens every time its tested in the economic
models. The inflation impact works both ways - the justification for raising the minimum wage from the populist brigade is always because of
inflation, but in doing so inflation gets raised yet again. Its a cycle.
Whether or not the minimum wage has a direct effect on inflation is unknown for sure, it is only in theory that it does. By raising the minimum wage,
employers turn around and raise the price of goods creating a devaluation of the Dollar -- one dollar buying less then what it once could -- however,
the the ratio from prices raised to wages raised is often not "equal". This is to say is the minimum wage is raised 1 dollar an hour, goods will
not rise to the equivalent of, but only to a minor extent. Thus inflation is not "ah, well these poor folks earn more now, let's charge more for
hamburgers". Essentially only a few markets are actually directly effected by minimum wage earners, those being big box retailers and fast food.
The profit margin is so extensive that if only 10% of the employees of a store earn minimum wage, then the profit difference is non-existent.
This is proven by the fact that many companies willingly pay above and beyond the minimum wage by choice .. the idea being you can hire better
workers, better worker relations, happier workers and more productive workers.. which all increase profits.
Also, all wages rise.. be it in the corporate world or in the service and industrial world.. every year the average wage raises as profits increase,
it is a sound sign of a good economy.. the minimum wage should be designed (and it is now in my state) to rise with inflation so as to retain it's
intended purpose of stopping large corporations from using them for slave labor .. most often those making minimum wage earn that because they are in
a situation that they cannot defend themselves, they must take what they can get.. hence why America is in love with illegal labor .. it is the modern
But yes, raising the minimum wage will cause inflation as more people have more money, but at a 70cent raise, honestly, the impact is not felt by
It's felt by minimum wage earners.
No just company pays minimum wage.. as a member of my local chamber of commerce, I know those who do pay their employers minimum wage and it honestly
reflects their own personality.. that is crude, rude, arrogant and detached from humanity. Most of the friends I have who own businesses, as Bigunit
does, pays a livable wage, because it's not always about personal profit above the expense of the Humans who help operate your business.. and that's
what they are, people, not robots to be used, abused and discarded.
For some reason in this country we have taken to siding with the large corporations .. they # up and cost us billions, oh we will accept and pay it
off without question, but when it comes to allocating a few million off their ballance sheets so families can eat at night, oh dear God what about the
Free market?? Free market my ass, it's the mentality like that which got us into our current situation.
Private profits, Socialized debt.
Besides, current inflation (around 15%) will never be effected by minimum wage.. we only leave our fellow American's in the dust, often those who do
not possess the resources to make something better of themselves.