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

Read: Forty Centuries of Wage and Price Controls [Schuettinger, Butler]

Originally posted by AwakeinNM


It doesn't make any sense because you can't employ logical thinking. The jobs won't go away if the boss doesn't give the raise - the PERSON will.. He can just find another person. The kind of jobs you're talking about can be filled with a trained chimp, but it's cheaper to get a high school kid.

I don't even make 10 an hour!! ya, let's see my boss bring in a trained chimp to do the job cheaper!! of course, the chimp is gonna need vet care, and guess he's gonna have to train a couple of the chimps to just clean their cages. then there's the food, lots of bananas there ya know!! oh, ya, and you might want to train a few chimps just to clean up all the ink that they've thrown around on the walls and such....oh ya, and well, better hire yourself a professional groomer to clean the ink and solvents and such off the chimps because if they start biting one another and such they are kind of poisonous!!

no, a trained chimp cannot do my job!! I know it couldn't! my boss has trouble finding humans that are willing to do my job let alone able at least not with the quality that I do it!! I don't want a raise, kind of promised myself when the economy went bust that I would avoid asking him for one till things were more stable. I almost put in my two weeks notice this week, and I can assure you, they know that they really can't afford to lose me at the moment. And, I know they can't, which is why I say almost.

would you get into any airplane if you knew that the gaskets that were in it were cut by "trained chimps", would you like a trained chimp cutting you deli products at the grocers? how about letting a "trained chimp" have a go at styling you toy poodle's fur?? there's alot of people out there who work for less than 10 an hour....nice of you to equate them all with non-human lifeforms!! thank you!! here's hoping someday you will have to board a plane that was built by your trained chimps!

Originally posted by FreeFromTheHerd


Minimum wage earners are in fact low to no skill people who lack the skills to demand a higher wage in a competitive market. The absurdity of a burger flipper or drive through worker making $10 an hour simply because of politicians pandering to the low income earners in order to garner their vote is laughable


.

You don't know what you are talking about. There are plenty of people now in the job market with degrees and skills that are forced into taking min. wage jobs because of the faltering economy. I employ people with astonishing resumes and phd's at entry level positions. This is not uncommon at all with the constant round of layoffs.

A rising tide lifts all boats and $10 hr. won't raise the tide much, but it's a start.

Originally posted by JIMC5499
Take a look at who is pushing this and why. It has NOTHING to do with the average worker and everything to do with the UNION worker. Numerous labor contracts are tied to the minimum wage. If the minimum wage increases so does the wages of those covered by those contracts. The recall election in Wisconsin has the unions running scared right now. They will do everything that they can to keep their dues money rolling in.

Right! Where's the proposal in Congress that will actually solve our economic problems by REDUCING the minimum wage! Let's crush the Unions, the middle class along with them, and create a two-tiered society of techno-serfs on one hand and bourgeois-pigs on the other. Mmmmm, bacon.

Originally posted by Wertdagf
reply to post by oneness86

 

All i see is owners doing jack %&*^ making enough money for new cars and constant vacations while paying their workers minimum wage.

Go to any buisness and see what its owner does... most likely their fingers are blistered from shopping and counting money.

Children who got a loan from a bank.. grinding their workers into the ground so they can stay home and play with their toys.

Owners shoulder a lot more responsibility than their minimum wage counterparts. Many small business owners have a good deal more character than you give credit for. If you have grown up under a socialist society and govt you may see things a bit differently though. I recognize people from your area may have been deeply exposed to Totalitarian ideals for a lengthy period, thus shaping your worldview.
All due reespect.

Originally posted by BULLPIN

Originally posted by JIMC5499
Take a look at who is pushing this and why. It has NOTHING to do with the average worker and everything to do with the UNION worker. Numerous labor contracts are tied to the minimum wage. If the minimum wage increases so does the wages of those covered by those contracts. The recall election in Wisconsin has the unions running scared right now. They will do everything that they can to keep their dues money rolling in.

Right! Where's the proposal in Congress that will actually solve our economic problems by REDUCING the minimum wage! Let's crush the Unions, the middle class along with them, and create a two-tiered society of techno-serfs on one hand and bourgeois-pigs on the other. Mmmmm, bacon.

Your language just screams socialist/communist/Marxist. I bet you even have a Che Guevara T shirt to go with that.

reply to post by Wertdagf


in my previous job, I worked over 12 hours one day because something had to go out. guess who was beside me working?? MY BOSS. his wife was there also working.
the shop I work in now, well we print, and then we flock what we have just printed. our newbies usually start out just flocking alot!! guess who has been known to flock for me???? MY BOSS!!! his girlfriend also has flocked for me, she doesn't even work there, she runs her own business. she was just helping out, because he was kind of down in the dumps about how things were running at the shop.

of course both bosses started out as printers working for someone else. maybe that's where the difference is. I generally will work for small companies, I'd rather work for the smaller companies. they aren't run by college graduates who don't know jack really about the actual production that goes into creating a product! or what it feels like to do the job 8 hours a day, 5 days a week, or more. and since they own it, have invested in it, they are more willing to pull up their sleeves and help get the crap done. I've driven by the shop on the weekends when we weren't working to find by boss's truck in the parking lot, and maybe a couple more. he's there, and working.

Originally posted by Cassius666

Originally posted by Submarines
reply to post by Wertdagf

 

Wow, you really have a warped sense of reality,

as it applies to running a small business.

Buisnesses go out of buisness routinely because they cant cope with rising costs, be it energy, overhead and yes, salary and you know what, those who closed shop in the 1980s are not missed today, the economy kept expanding regardless, even when the losers had to go.

I really dont see your problem. If you are a small buisness owner and it turns out an increase in minimum wage does not hurt your buisness too much, you will adapt.

If however it does hurt your business and you prefer to be employed, you can take advantage of the new minimum wage laws. It does not work that way if the cost for energy or raw materials increase.

Small business owners cant loose :p and big business owners, I don't think they will notice an impact beyond being able to be hoarding somewhat less in cash.

edit on 8-6-2012 by Cassius666 because: (no reason given)

Too bad the govt didn't see it that way come time for the auto baillouts???? Why not let those losers fail and let others take their place with a more competitive product? Oh, the answer is the Unions.

Originally posted by dawnstar
reply to post by Wertdagf

 

in my previous job, I worked over 12 hours one day because something had to go out. guess who was beside me working?? MY BOSS. his wife was there also working.
the shop I work in now, well we print, and then we flock what we have just printed. our newbies usually start out just flocking alot!! guess who has been known to flock for me???? MY BOSS!!! his girlfriend also has flocked for me, she doesn't even work there, she runs her own business. she was just helping out, because he was kind of down in the dumps about how things were running at the shop.

of course both bosses started out as printers working for someone else. maybe that's where the difference is. I generally will work for small companies, I'd rather work for the smaller companies. they aren't run by college graduates who don't know jack really about the actual production that goes into creating a product! or what it feels like to do the job 8 hours a day, 5 days a week, or more. and since they own it, have invested in it, they are more willing to pull up their sleeves and help get the crap done. I've driven by the shop on the weekends when we weren't working to find by boss's truck in the parking lot, and maybe a couple more. he's there, and working.

Cool story! My dad started out in his business pushing a wheelbarrow in the furnace room. He worked his way all the way to the top, CEO. He was always in the Lab running tests till the end of his time.

Originally posted by dawnstar
reply to post by Wertdagf

 

in my previous job, I worked over 12 hours one day because something had to go out. guess who was beside me working?? MY BOSS. his wife was there also working.
the shop I work in now, well we print, and then we flock what we have just printed. our newbies usually start out just flocking alot!! guess who has been known to flock for me???? MY BOSS!!! his girlfriend also has flocked for me, she doesn't even work there, she runs her own business. she was just helping out, because he was kind of down in the dumps about how things were running at the shop.

Your boss has a wife and a girlfriend? And both are flocking? fantastic!!!

I work at menial jobs along with my employees as well. And when they clock out; I'm still there working. Because I'm an entrepreneur and love the challenges and hardwork of building a business. This is my 6th business and some of them made a lot of money and when I sold them I made out very well. I have also lost fortunes because of my stupid mistakes but I always pay my beginning help more than the min. wage! Because I respect them and the work they do.

the alternative is to take the chance that the taxpayer will pay whatever amount is needed to bring that low wage up to a living wage. which is the better option? to me, it seems that we would rather want people working for their living, that should be the foundation that we start from. it's the way it was in years gone by. so I think employers should be expected to pay that living wage! in the long run, I believe it would cost society less money, since it cost the gov't much more to staff and administer the various agencies that are running the various programs. and well, if the gov't weren't involved in charity for the working poor, they would have to pay at least enough to get those employees coming back in everyday, and that would require food, shelter, and the other basic necessities. so, in my view, it's not reallly the employees that are the charity case, it's the small business owners. they don't really have a viable business plan, or their plan needs to be tweaked, because right now, they seem to be unable to afford the true cost of their labor, the taxpayers are footing part of the bill. so, maybe it is they who should be standing in the welfare line asking for help, and not the employees.

There will be even less employment for people without skills.

Fast food will get more expensive.

Fewer high school kids will be able to find any work.

The way I see things are; They will continue to increase the price of goods and living no matter if they increase the minimum wage or not..

reply to post by olaru12


I'm talking about two different employers here,, one at the first job, one at the second, the point being, neither were lazy good for nothings just sitting around counting a mountain of dough that we workers were earning for them. heck, at the moment, I am not sure we are even earning my boss any money, think he might be in the red, we just had a huge order returned to us... we get to reprint it.

reply to post by Wildbob77


I got three sons who are in their 20's they can't find work now!! alot of their counterparts can't. alot of americans can't, why should the high school kids be any different?? and by the way, the fast food places open up early in the morning and close late at night.....who's manning the places while these high school kids are in school??

I mean this in all seriousness, but I sometimes wonder if the minimum wage itself is a conspiracy. The conspiracy would be to make things more expensive so the wealthy elite can continue to loot America and drive more people out of business so they can control things.

After all, money's only valuable if society believes it is.

more money per hour will mean less hours available or offered. you can't legislate an economic recovery by raising wages

I think it's a mistake

and if you want to bring it up, bring it up incrementally

I agree that the min wage must be raised. If you adjust the min wage for inflation is very substandard. I believe it should be done.

One way to look at is that we have inflation coming and it will be very serious. This will not be because of the min wage rising but from the money pumping by the FED. There is no doubt that the trillions of dollars being pumped into the markets and banks will have an effect. This money is going somewhere and it is going into the commodity markets.

So, I will be the first to theorize that this is about deflecting the blame for the future inflation caused by the FEDs money pumping policy. Bernanke laid out what he is doing to the US economy in trying to restart of the stagflated US economy.

Japanese Monetary Policy: A Case of Self-Induced Paralysis?

Full Text here

I agree with the recommendations of Meltzer (1999) and McCallum
(1999) that the BOJ should attempt to achieve substantial depreciation
of the yen, ideally through large open-market sales of yen. Through
its effects on import-price inflation (which has been sharply negative
in recent years), on the demand for Japanese goods, and on
expectations, a significant yen depreciation would go a long way toward
jump-starting the reflationary process in Japan.”

Japanese Monetary Policy: A Case of Self-Induced Paralysis?*
Ben S. Bernanke
Princeton University
December 1999

Originally posted by syrinx high priest
more money per hour will mean less hours available or offered. you can't legislate an economic recovery by raising wages

I think it's a mistake

and if you want to bring it up, bring it up incrementally

No we've had minimum wage since 1938 where it started at a 25 cents has been raising ever since. According to your logic, by now, all the hours would be gone, all restaurants would have shut down, all skilled labor would be unemployed, and no student would ever get a job.

If you what you say is true explain to me why people still work at all? I work 50 hours a week, so does the women. Shouldn't have all the hours been gone by now?

Originally posted by dawnstar
reply to post by Wildbob77

 

I got three sons who are in their 20's they can't find work now!! alot of their counterparts can't. alot of americans can't, why should the high school kids be any different?? and by the way, the fast food places open up early in the morning and close late at night.....who's manning the places while these high school kids are in school??

Mexicans and other illegals because they are more than happy to get min. wage and they work hard to keep their jobs.