“I was shocked, I was stunned by the business.”CEO says profits soared after minimum wage hike

a reply to: VinylTyrant

Minimum wage actually needs to be much higher than $15/hour. In order to maintain the same purchasing power that minimum wage used to provide, it needs to be $24 by current standards.

Again, it doesn't matter what others make. What matters is that you're performing labor you want to perform, and that you can support yourself while doing so.

If you can't understand the difference in more important positions making more opposed to garbage socialist policies of mandated spreading of wealth to positions anyone can perform than I can't say much more to have you see a different perspective.

It has nothing to do with socialism. It has to do with the fact that if people making lower wages can't support themselves, money will be taxed to provide programs to support them anyways. A stable society can't function under large wealth inequality or without basic food and shelter for your rank and file workers.

I'm against using welfare programs to subsidize industry that refuses to pay proper wages. If you raise the wages, you can in turn lower taxes and make the private sector support people again.

Also, there is little relation to the importance of a position and the wage being paid. There is only what the employer is willing to offer, and what you can convince them to pay you. Reality has little to nothing to do with the whole thing.

a reply to: Aazadan

I don't know, live in delusion. Minimum wage workers should make $10/hr at most.
What we need is for the rest of the skilled workforce to see a bump. Long time coming.
They raised min. Wage a couple times.
I'm tired of a good workforce getting scraps.
Minimum wage is for kids and the elderly, never forget that aspect of the conversation. For the educated, it's the most important point.

originally posted by: VinylTyrant
a reply to: Aazadan

I don't know, live in delusion. Minimum wage workers should make $10/hr at most.
What we need is for the rest of the skilled workforce to see a bump. Long time coming.
They raised min. Wage a couple times.
I'm tired of a good workforce getting scraps.
Minimum wage is for kids and the elderly, never forget that aspect of the conversation. For the educated, it's the most important point.

The decline in purchasing power of people at higher wages is directly tied to minimum wage. There's a few theories as to what's going on. The theory that I think is right has to do with the Consumer Price Index, and it all goes back to the early 80's. One of President Reagan's early tasks was needing to stop the runaway inflation we had during the Carter years. To do this, he changed the way we officially track inflation each year. This number, was added into loans as part of the interest rate. So by lowering CPI, the interest rate would go down, and we could all flourish.

Basically, this change started measuring inflation by the amount spent by a household in a year rather than the price of goods in a year. In real terms, to stick with the threads pretzel analogy:
Under the old rules:
1980 - You buy 3 pretzels for $2 each or $6 total
1981 - You buy 2 pretzels for $3 each or $6 total

There's an increase in the cost of goods by 50%, therefore inflation on this product is 50%. After Reagan's CPI changes though, that's no longer how things were measured
1982 - You buy 3 pretzels for $2 each or $6 total
1983 - You buy 2 pretzels for $3 each or $6 total

Now, you spent $6 each year, so inflation is said to be 0%.

This is what we have now, the actual inflation rate, which should be determining things like interest rates and CoL increases has been totally decoupled from the price of goods. This is why purchasing power is falling across the board, and why inflation calculators don't actually work.

Fixing it is tricky though, it goes off by 1-2% every single year, a correction can really only absorb half that. So if we reversed the policies today, you're looking at 50-100 years before the middle class gets back to where they should be purchasing wise, assuming nothing else screws things up.

a reply to: Aazadan

You make good points to which I have no argument. But, I say at this point, you have to throw it all out the window.
If educated people can't pay off their loans, deferment will be the next bubble.
Raising the minimum Wage won't get us much further.
A strong middle class makes a strong nation.
I believe the US was weakened by design.
Trump sounds like he wants to change that trend. I, for one, hope he means what he says.
I feel the free world is riding on it.

In biblical times, the kings who were builders seemed to be successful. Being in construction myself, I can only hope that's the direction this once great nation will go.
Trump will sell the label

Made in the USA

Mark my words....

I can't believe this just might happen, I'm so excited..I never trusted my government.
I just wish, once in my life, a politician will do right by us.
Minimum wage is not the problem. Good jobs are our problem.
I pray for more people doing as good or better than I am.
America first, for a change.
Come on, man, let's rally around that. Even if you hate Trump.

I tell you, if Obama said to he'll with it. let's make the middle class strong again. And backed that with policy I would be all for it, despite politics. He didn't.

No modern president made the middle class a focal point. Without us the country will go one way, way down.