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Minimum wage hike would kill a half-million jobs: CBO

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posted on Feb, 18 2014 @ 11:52 PM
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reply to post by zazen


As our society is, we simply don't care about one another.

 


Perhaps.

But the U.S. has many people on government assistance.

Food Stamps, welfare in several forms, Social Security, MediCare, MediCaid, government funded pensions etc. etc.

All taxpayer funded in most ways.

Or are you talking at a different "Level" ?




posted on Feb, 19 2014 @ 11:02 AM
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goldenalien
I am not an economist but wouldn't a minimum wage hike also cause the cost of living to go up this making the wage hike pointless for those who get it and life worse for those who don't get a raise.


Good point!

And wouldn't these earners (getting the increase) be ineligible for subsidies, such as Section 8, welfare, food stamps, free child care, free health car, free cell phones. free x-box, etc since their wages have gone up past the 7.25 per hr max?

If so, what could be the repercussions?



posted on Feb, 19 2014 @ 11:07 AM
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But remember that....You can find this from Multiple sources and searches. I'm just saying that he was vilified by economic pundits and economists and financial gurus and told that he would go under and that he would single handedly ruin the American economy. So...you can't always believe what the pundits say.



In 1914, Henry Ford started an industrial revolution by more than doubling wages to $5 a day—a move that helped build the U.S. middle class and the modern economy

The $5-a-day Workday

After the success of the moving assembly line, Henry Ford had another transformative idea: in January 1914, he startled the world by announcing that Ford Motor Company would pay $5 a day to its workers. The pay increase would also be accompanied by a shorter workday (from nine to eight hours). While this rate didn't automatically apply to every worker, it more than doubled the average autoworker's wage.

While Henry's primary objective was to reduce worker attrition—labor turnover from monotonous assembly line work was high—newspapers from all over the world reported the story as an extraordinary gesture of goodwill.

Thousands of Workers Flock to Detroit

After Ford’s announcement, thousands of prospective workers showed up at the Ford Motor Company employment office. People surged toward Detroit from the American South and the nations of Europe. As expected, employee turnover diminished. And, by creating an eight-hour day, Ford could run three shifts instead of two, increasing productivity.

Henry Ford had reasoned that since it was now possible to build inexpensive cars in volume, more of them could be sold if employees could afford to buy them. The $5 day helped better the lot of all American workers and contributed to the emergence of the American middle class. In the process, Henry Ford had changed manufacturing forever.



posted on Feb, 19 2014 @ 11:09 AM
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Chrisfishenstein
reply to post by xuenchen
 


I want my $3 an hour raise for doing nothing also then!

This minimum wage crap needs to stop, IMO of course! People don't realize that will make the cost of your #2 at Mikky D's go to $12 instead of $5.....More than jobs will be lost, you will see companies folding like paper because nobody wants to eat/shop there anymore because of the huge price increases to cover these amounts...

If you want more money in your minimum wage job.....QUIT and go get an education to get a better job....But that is me talking here, someone who doesn't make anywhere near minimum wage, probably why actually also....


Agree on all points, except where are the better jobs? US jobs have been decimated the past 20 years thanks to both parties.



posted on Feb, 19 2014 @ 11:22 AM
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reply to post by Ahabstar
 


To be honest, this seems incredibly black-and-white post. Not every employee is earning minimum wage and there also many other expenses for the companies, from expansions/rents to utilities and raw materials as well as insurances/interests on loans etc. Employee costs are only part of all the expenses of the companies, which means 39% increase in employee costs will definitely not lead to 39% increase in the prices. Competition still exists and the lowest price usually tends to win. Possibly the prices will stay similar, but there will be hikes in the salaries of higher-level employees, which is reasonable in my eyes. For one person the salary cut means not being able to afford more luxuries, a second house or a second car. For the other one it is about survival. Considering that the salary difference will still stay huge, responsibilities, skills and hard work are still rewarded well.



posted on Feb, 19 2014 @ 11:40 AM
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Well I was going to post something to the effect of the $5.30 minimum wage in 1960 being equivalent of around $42 but I really don't care anymore. Everyone is just going to piss and moan about "oh you don't deserve that much" completely forgetting that the minimum wage was created so that even the lowest paid employees could uphold a certain quality of life while the current minimum wage ensures that you will be living in your parents basement, and lets be frank here, no one gives a damn about anyone else so whats the point of trying to argue it.

(╯°□°)╯︵ ┻━┻



posted on Feb, 19 2014 @ 12:14 PM
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beezzer
If raising the minimum wage does not have a negative impact on employment or the economy, then why isn't the minimum wage 50.00 / hour?


If lowering the minimum wage has a positive impact on employment or the economy, then why isn't it $0.00 / hour?

It's not like that would start a civil war or anything.

You see, its a sliding scale between slavery and freedom. While it's insulting to compare the plight of early America's black slaves to minimum wage workers, it's also insulting to compare minimum wage workers to free people.



posted on Feb, 19 2014 @ 12:14 PM
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beezzer
If raising the minimum wage does not have a negative impact on employment or the economy, then why isn't the minimum wage 50.00 / hour?


If lowering the minimum wage has a positive impact on employment or the economy, then why isn't it $0.00 / hour?

It's not like that would start a civil war or anything.

You see, its a sliding scale between slavery and freedom. While it's insulting to compare the plight of early America's black slaves to minimum wage workers, it's also insulting to compare minimum wage workers to free people.



posted on Feb, 19 2014 @ 12:21 PM
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goldenalien
I am not an economist but wouldn't a minimum wage hike also cause the cost of living to go up this making the wage hike pointless for those who get it and life worse for those who don't get a raise.


The cost of living has been going up for few years now. So whether you increase or not the minimum wage, living is more expensive that is used to be say 5-6 years ago.

In other words, we're screwed no matter what !!!



posted on Feb, 19 2014 @ 12:30 PM
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Telos

goldenalien
I am not an economist but wouldn't a minimum wage hike also cause the cost of living to go up this making the wage hike pointless for those who get it and life worse for those who don't get a raise.


The cost of living has been going up for few years now. So whether you increase or not the minimum wage, living is more expensive that is used to be say 5-6 years ago.

In other words, we're screwed no matter what !!!


That's the problem with the anti-minimum wage crowd's argument. They see a correlation between inflation and minimum wage but they don't realize that the cost of living goes up then we raise minimum wage as a response. It's not the cause, it's a reaction.



posted on Feb, 19 2014 @ 12:34 PM
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reply to post by Telos
 


"the cost of living has been going up" is just another way of saying, "The government has devalued our dollar"



posted on Feb, 19 2014 @ 12:40 PM
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reply to post by Cuervo
 


Cuervo, paying people less money is better for the economy.

Dont you get it?



posted on Feb, 19 2014 @ 01:18 PM
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The way I see it, the more money people get to take home the more they will spend.

The more they spend the more produce that needs to be produced.

The more produce that needs to be produced the higher the demand for workers.

The higher the demand for workers, the more people that are able to find a job.

The American worker has been breaking it's back the past few decades and their income has remained stagnant for the most part. The only ones that have been truly benefiting are the CEO's, and Corporations.

The cost of living is as high as it has ever been.

The Conservative talking point about how the cost of everything will go up, if we increase the minimum wage is just that, a talking point to further spread their agenda.

The cost of living is higher than at any time in this country's history.




posted on Feb, 19 2014 @ 01:30 PM
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reply to post by muse7
 


If you have run a business before, tell me how you handled the increase in labor costs? If you haven't run a business, then you don't know what you are talking about.


Labor costs are a ratio, in anyones budget, of revenue. it is how you build a budget. You start with historicals, use that to forecast revenues, then use that to forecast your cost of goods and labor costs. If you are running a restaurant and determine your food costs will be 40%, then you retool the menu and menu price so that you can get to a food cost that is within the industry standard range.

It is all ratio driven. If you don't change the model being used to determine price, then I 100% guarantee you, putting my own life on the line as collateral, that the price will go up to account for it.

If you want to deny it, please provide something substantial to back you up. A graph and a proclamation of the obvious (the cost of living is high) just ain't going to work to sway anyone. Denying this fact is like denying evolution. It requires ignoring the obvious in favor of a wish.



posted on Feb, 19 2014 @ 01:33 PM
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reply to post by Cuervo
 

Oh good lord.

Company A pays low end worker $10 an hour now, instead of $7.
Company A's overhead goes up.
Company A either raises the price of the widget and/or layoffs 1/4 of the low end work force, and has them adsorb the work of those laid off.

Either way, Company A will incur a product sales loss, which means people are laid off or they lay people off from the start.


All this when most skilled to highly skilled workers pay hasn't gone up much.

Nothing like tearing down a company to try to build up the low end, unskilled worker.



posted on Feb, 19 2014 @ 01:52 PM
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reply to post by macman
 


That is true in a lot of retail type markets.. You can remove part of the workforce, and demand the remaining folks increase productivity.

In places like nursing homes, you have government mandated staffing ratios. I can imagine how much people are going to scream over increased prices to care for their dying loved ones. "Its price gouging!!!!"



posted on Feb, 19 2014 @ 01:58 PM
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Well here's the answer from a White House economic adviser......




Raising the minimum wage to $10.10 by 2016 will help "people who just want to work hard," but it also will help those who want to "work less," White House economic adviser Gene Sperling told MSNBC's "Morning Joe" on Wednesday.

He argued that Americans support raising the minimum wage because it will lift "struggling" families out of poverty:



Higher Minimum Wage Will Allow Some Americans to 'Work Less'



posted on Feb, 19 2014 @ 01:59 PM
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reply to post by bigfatfurrytexan
 


Yes, but what Nurse is paid minimum wage?

None that I know of in my area. They all start in the $12 an hour range and sky rocket from there.



posted on Feb, 19 2014 @ 02:00 PM
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reply to post by snypwsd
 


LOL Big business does not pay minimum wages. This is just an excuse for the bigger corporations to eliminate competition particularly the small business and low profit margin companies. They want a monopoly on it all and the increase in the minimum will get them there faster.



posted on Feb, 19 2014 @ 02:13 PM
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reply to post by macman
 


Many cna's, housekeeping, and dietary are paid min wage



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