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New bill pushing for $10 minimum wage; how will this affect economy?

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posted on Jun, 8 2012 @ 10:59 PM
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Prices of goods and services would have to remain sticky if our minimum wage goes up (for it to be a good thing). Though $7.50 an hour for me is really nice (since I'm a teenager), $10 would be something to drool over... If prices were sticky.
edit on 1/7/12 by Avalessa because: (no reason given)




posted on Jun, 9 2012 @ 12:32 AM
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Originally posted by The Old American
Want higher unemployment? Raise the minimum wage. It really is mind-boggling how people can't hold this simple fact in their mind.

/TOA


It's because it's not a simple fact. If you check, half the time they raised it unemployment went up, the other half of the time unemployment went down. Showing the two have nothing to do with each other.

The statistics simply show you're wrong. That's all there is to it. Unemployment is caused by completely different things. Like in 1938 when they started it at 25 cents the unemployment rate was 20%. It went down 6% to 14% the next year.

That's because raising it behind the rate of inflation doesn't hurt anything. It would cause unemployment if they raised it over the rate of inflation, but they never do that. They're always playing catch up with the prices that have already went up instead.

After all, as long as we've had it, according to your logic there shouldn't be any jobs left. Instead we have lower unemployment than when we started, but we have over twice as many people in the country. Completely destroying your theory.



posted on Jun, 9 2012 @ 12:42 AM
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Show me the relevant data that proves minimum wage increases improve the living standards of the average working class American and I'll consider supporting such an idea.

Additionally, I'd like to see how the supporters of this bill came up with the number '10'. Was it calculated off the projected CPI? The average cost of living of a randomly selected number of cities with a high population. Of working class inhabitants?

$10 seems pretty arbitrary to me.



posted on Jun, 9 2012 @ 12:52 AM
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reply to post by oneness86
 


Vetty interesting, and by interesting I mean with interest$. You know they say monopoly money never looses its value, but only as long as you control that monopoly can you set its value. So when one goes up the other will follow, but in reality its never going anywhere but the same places its been before, and all to keep the hamsters running on there hamster wheel, they do call it a rat race as well, wonder why.


Hey here's a idea whatever happened to getting payed whatever a job was worth? Oh ya, they decided to let others dictate what is worth what. But what is a job worth anyways?
Its kind of funny in a insane kind of way, that people work there whole life to be able to opt out of the system, but off-course if people were truly able to opt out, then the system might crash, or would it?

Its a cycle, a system, controlled, coerced, embedded, distributed, when it gets old its then packaged a new, and redistributed with fancier wraps. But as always the carrot dangling in front of you always seems to be mysteriously out of reach no matter how far and fast you go, chasing dreams in dreamland soon turns into a nightmare.


edit on 9-6-2012 by galadofwarthethird because: lol



posted on Jun, 9 2012 @ 12:54 AM
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reply to post by BULLPIN
 


We have had a minimum wage for quite some time now. I was really addressing a deeper adherence to socialist policy. The question is how much socialism are we going to implement? The dominoes are already falling. Socialism has to be propped up by Capital for it to even work. What will you do when the balance tips so that there are not enough wage earners to pay for all the others and all the programs?



posted on Jun, 9 2012 @ 01:01 AM
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Im currently making less than this new increase
reply to post by oneness86
 
So you make horrible wages for a living, which means you're either un-educated or blaming somone else for your stupidity.

Which one is it?



posted on Jun, 9 2012 @ 01:13 AM
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Originally posted by oneness86
A new bill in Congress "Catching Up To 1968 Act of 2012″, which advocates for an increase in the national minimum wage from $7.25 to $10.00.
Im currently making less than this new increase, and i just dont think this is a good idea for the economy. It seems like the prices of all goods are just going to increase because of this. Any thoughts?



I agree totally. It's called inflation and that's how you crash an economy.
edit on 9-6-2012 by VeritasAequitas because: (no reason given)



posted on Jun, 9 2012 @ 01:30 AM
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reply to post by SaturnFX
 





I would also be in favor of reducing it to 1 dollar an hour and have things deflate to that price (a big mac costing 10 cents, etc).


Now thats just plain cheating.
Remember the name of the game is greed, and so we must add more zeros to the end of the string of numbers, it just makes it look much more cooler. Is it necessary...Nah...But whatever, people like big numbers. Makes them feel special.



posted on Jun, 9 2012 @ 01:40 AM
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Originally posted by freedom12



Im currently making less than this new increase
reply to post by oneness86
 
So you make horrible wages for a living, which means you're either un-educated or blaming somone else for your stupidity.

Which one is it?




I got to back this guy up. I make 8 and hour. I'm 22. I barely get by. Am I stupid? No. Have I attended college? No.
But I, as well as others, can do just as much as those guys who spent the money to get a degree. The reason we do not make those wages is because we did not have or take the path to get a degree in a certain position. Yet alone employers never accepting anybody without a degree or piece of paper. Does not mean you do not possess the knowledge. Heck, people say I should be a philosophy teacher some day. I never took the class in my life. Ignorance, my friend, do not always side with it.
edit on 9-6-2012 by Soulece because: (no reason given)



posted on Jun, 9 2012 @ 02:21 AM
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Minimum wages laws are the enemies of all citizens.
Over the past 10 years or so I have had first hand experience of board room decisions being made around them. (At present the minimum wage in the UK is about $10/hour ish)

The higher the minimum wage the more jobs will be out-sourced to Asia.

You will be told all sort of various lies about how it is because Asia is where innovation is these days or some other BS. Really it is because at present they work for less.

The moving of these jobs to Asia will cost millions and as a result Asian wages will slowly increase. Even when Asian wages become the same as they are in your home country the jobs will not return because this again will cost millions but will not result in lower wage costs.

You have to question what the real motives behind these laws are. I have witnessed 2 industries already being destroyed in the UK by minimum wage laws with another being destroyed as we speak.



posted on Jun, 9 2012 @ 02:41 AM
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Originally posted by freedom12



Im currently making less than this new increase
reply to post by oneness86
 
So you make horrible wages for a living, which means you're either un-educated or blaming somone else for your stupidity.

Which one is it?





That's a pretty high horse you're on there...




posted on Jun, 9 2012 @ 02:45 AM
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reply to post by oneness86
 


It's hard to look down the road when you're being handed something to hold right where you're at. I too make well over $10 an hour and have employees directly under me that maybe make $100 a week. Most of them are young still and don't care for much more than party money. I try and help them with hours when I can but it's hard when you have a whole corporation breathing down your neck about productivity, which basically means get EVERYTHING done in as little time as possible. They're racing around our facility for what? A smaller check! But what good would having the extra few dollars an hour be if everything you NEED goes up in price as well. It's all meant to keep you looking at the here and now, not tomorrow. Unless tomorrow is a work day.



posted on Jun, 9 2012 @ 03:03 AM
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Inflation continues to go higher and higher it wouldn't matter if minimum was raised, because your going to pay higher prices and still be in the same boat you was before the raise. They need to LOWER the prices so we're not paying 100 dollars for a loaf of bread. This is just a sign that things will continue as they always has and the elected officials really have nothing new up their sleeve. It's still the same old parlor trick. Stimulus, raise the tax, lower the tax, raise the tax, raise the minimum wage. See the pattern here? They are trying to make the same coin weigh more just by moving it to a different location on the same scale, but they always have been all about creating something from nothing and printing money from thin air or typing numbers on a green screen.



posted on Jun, 9 2012 @ 03:41 AM
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Alright i did not read this whole thread, but i read the first and last page and see the point missed.

THIS IS TO DESTROY THE MIDDLE CLASS!!!!!

Here is how it works.
minum wage guy makes 7.50 and gets bumped up to 10. He now has 133% of his previous buying power per hour he works.
worker who makes 10 bucks an hour will not get a raise and so is still at 100% of previous buying power
Higher paid worker makes 20 an hour, get no raise and is also at 100% previous buying power

AND THEN!!!!!!!

Prices go up lets say 133% to compensate for the new price of labor...
minimum wage guy is back at only 100% buying power
worker who makes 10 bucks an hour is now at 75% buying power before the bump to minimum wage
Higher paid worker at 20 is now at 87.5% of previous buying power.

So in the end NO ONE will be moving ahead. The bottom will stay at the bottom while the rest above the bottom will not much that much closer to it. Now if the people making money got a raise for the difference in minimum wage then all buying power would stay at 100%...but to up every employ is still going to make prices go up further for good to compensate.



posted on Jun, 9 2012 @ 04:31 AM
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I can understand the fear that some may have in lifting the wages of min-wage workers. As a business owner, I know very well that any extra expense can make or break one's business.
But here are my findings. Paying someone barely enough to keep them crawling back to their job is telling your employee they have NO WORTH to you and your biz. Also, paying someone such a lousy pay scale encourages poor employee performance, low morale, and inconsistent productivity.
A business owner is just asking for these "worthless" employees to rob them blind!
No wonder employee theft is epidemic these days.
One only has to look at Australia as a model for high minimum wages, high productivity, a wonderful social safety net, and (can you believe it) LOW UNEMPLOYMENT RATES.
This just goes to show how politicians have exploited the middle-class and poor votes. If we only could learn to vote in OUR ECONOMIC INTERESTS!
edit on 9-6-2012 by vulcansmith because: re-edit for missing key word



posted on Jun, 9 2012 @ 06:24 AM
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reply to post by freedom12
 
oh yes, I'm uneducated,and stupid, thank you!! now that I know that, well, guess I should mosey on down to the welfare office and tell them, and proceed to sit on my arse and collect the gov't dole!!! nice going there!

I earn less than $10 an hour....I have an assiociate's degree in data processing, close to ten years in screen printing, like the work really, the climate in the shop can be annoying sometimes, and I am over 50 so I know I am gonna have to find another way soon to earn a living because the manual printing is beginning to tear by body up! It's not something that I am gonna be able to do till I'm 65, let alone the70 or 80 that some people are talking about raising the retirement age to! There are alot of people working beside me who got secondary education, and have made pretty good money before they wound up where I am at.

by the way, I kind of wanted to keep on with that education, but wanted to do it one my own, while working part time in my field. graduated during the reagan years with tent cities popping up all around. after I graduated, I found I couldn't find a job period, except in the field that I went to school to escape from, which I hated. then found out that the reason I couldn't find the job was that the economy was crap, and the employers were bypassing the female population, if there was any male whatsoever appllying for the job, didn't matter what you resume looked like, they were gonna hire the male, since well, the male had a family to take care of, the female had a male taking care of them, or danged well should have on!!
so, well, I figured why waste resources getting an education if my gender was gonna stand in the way of me actually being able to use that education to get a job??

some people's attitude kind of is crap!



posted on Jun, 9 2012 @ 06:51 AM
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reply to post by biggilo
 

you sure it's the minimum wage laws???

the area I grew up in had some pretty large apple orchards, and they would provide summer jobs for us kids, along with draw in the migrant workers. those kids and migrants weren't making that much money!
well, years later, my husband is a truck driver, and he is delivering a shipment to a brand name juice producer not really that far from those orchards. he asks the person taking the delivery why on earth they are shipping apple juice concentrate halfway around the world. what he got as an answer is mind boggling!! they were getting a tax break by the gov't if part of their product was imported from these countries, and they just opted to import juice concentrate! no one on this earth is ever gonna convince me that it was cheaper to import that concentrate halfway around the world than it was to have the local students and migrants work the fields and bring in the crop and produce the stuff here! there is no way in hades that is possible. it would have been a losing proposition without the gov't bribe...or I mean tax break!!
the apple orchard are about gone, the global economy is going up in smoke, and all I can say is good luck in finding yourself some apple juice in the near future, because it more than likely won't be made with the apples that are no longer being produced in that area!! THEY ARE GONE!!
and that goes for the textile industry, and so many other industries! all that remains of them are their skeletons. it would take years and tons of money to bring them back to life to the point where they can fill our needs.
we would be better off to do away with the bush tax cuts and replace them with something that will encourage our businesses to start investing in our manufacturing! the global experiment is a complete failure, unless of course you want a global gov't regulating every business and individual in the entire world.



posted on Jun, 9 2012 @ 09:32 AM
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The better question is why shouldnt minimum wage be adjusted for inflation. I am not sure, but I bet even at 10 Dollars the current minimum wage wouldnt be fully adjusted for inflation, when minimum wage was first raised to the current level.



posted on Jun, 9 2012 @ 10:02 AM
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reply to post by Cassius666
 


It should be it always should have been it. It is a large factor in how things got so bad. If the bottom doesn't keep up with the rest it allows the top to short the bottom while enriching themselves. With minimum wage anchored to the rate of inflation it would have made it so when the top goes up the bottom would have to go up on it's own. The pay scale wouldn't be as dramatically skewed as it is now.



posted on Jun, 9 2012 @ 10:16 AM
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reply to post by freedom12
 


Im not blaming anyone and im actually a nursing student, thanks



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