The inflation is in commodities, you can't print trillions of dollars and expect things are not going to cost more. You are in the UK but over here Just about everything has gone up considerably year over.Hmmm.. dunno @Melensdad . It's not like inflation is particularly high at the moment ?
Historical Inflation Rates: 1914-2023
The table displays historical inflation rates with annual figures from 1914 to the present. These inflation rates are calculated using the Consumer Price Index, which is published monthly by the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor. The latest BLS data, covering up to...www.usinflationcalculator.com
In terms of inflation; I would have thought Bidens multi-trillion dollar cash injection into the economy would have a MUCH bigger inflationary effect than a minimum-wage hike ?
When the minimum-wage came in in the UK, lots of people said it would cause mass unemployment, a surge in inflation, and the destruction of the Empire. Curiously.. life went on.
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Let's discuss the $15.00 hr min wage kaws
- Thread starter CrakHoBarbie
- Start date
Can you say anything without insulting or labeling someone? My Jesus is Jesus. Conservatism is a culture of life that has been going on in the US since its founding, with family values and work ethic that build generational wealth for those you care about at its core. You can believe what ever you want and it makes no difference to me as long as what your doing does not effect me or those I care about. I have liberal friends, we just don't talk politics. Im sure you are not interested in that.
CrakHoBarbie
Active member
CrakHoBarbie
Active member
You can dish it out, but you can't take it. I listen to your grievance politics all day long. The whining. The complaining. The blaming everything under the sun on democrats. Calling us communists. Saying we're ruining the country. Constantly fear mongering and pointing fingers. Claiming disaster where none exists. It's pathetic. But then....on top of that.... When someone shats a little on your nonsense, it's just to much for you to handle, huh? .... And you call us "snowflakes"...... ?
CrakHoBarbie
Active member
Empty threats of your boys Resurrection?... If it's all such a vast conspiracy against him as you claim... What makes you think he won't be in prison by then?
CrakHoBarbie
Active member
We have seen it before. We will see it again.
Machines now cook hamburgers, lift fries out of vats of hot oil, fill cups with soda and even take your order and accept your payment. Fast food restaurants around the world are selling more food with fewer employees due to increases in the minimum wage.
We have sanitation robots that disinfect office buildings as well as sweep and mop hallway floors.
Smart conveyors in warehouses now move packages at high speeds automatically, sort them into loads and some actually load trucks.
The higher the minimum wage the more we will see the low waged jobs eliminated by automation and computer.
But most of it goes back to a devalued dollar and bad monetary policy.
I've seen it personally where I live. The minimum wage was increased to 15. The cost of pretty much everything went up to compensate. Walk in to most bigger stores up here and instead of having 10 checkout aisles with 10 people working, you now have 6 check-out aisles with maybe 2 people working and 4 self check-out aisles staffed by 1 person. Heck, our main Wal-Mart used to have around 20 check-out aisles all staffed. They got rid of about half of the staffed check-out aisles and usually have only 1 or 2 aisles open now and around 16 self check-out aisles staffed by 1 person.
Minimum wage increased up here. Gas prices went from $1.10 per liter to $1.40 average where I live. You'd be hard-pressed to find a loaf of bread for under $5. I could go on and on but you get the point. I don't base my opinion on pointless articles online. I base it on facts from my daily experiences. But don't try to confuse liberals with facts. ?
CrakHoBarbie
Active member
Well, one thing is for sure. The anecdotal evidence on min-wage is contaminated by the personal bias of the poster. But, when we look at empirical study...... Unfortunately it's just as tainted. ...... https://scholar.google.com/scholar?...vis=1&oi=scholart#d=gs_qabs&u=#p=rQZfXgZPTtsJ
Well that really depends upon which study you hang your hat.
No, Krueger Didn’t ‘Prov[e] that Raising the Minimum Wage Doesn't Increase Unemployment’ - Econlib
News of Princeton economist Alan Krueger’s recent death prompted well-deserved tributes and reflections on him and his academic and public policy work. (David Henderson offers some kind words here.) The eulogies underscore Krueger’s sharp and inquisitive mind as well as his reputation for...
www.econlib.org
It is pretty easy to refute Card/Katz/Krueger, which is sourced as the bulk of your google-fu --> https://www.nber.org/papers/w4570
In Neumark and Wascher (1992), we present findings supporting the earlier consensus that minimum wages reduce employment for teens and young adults, with elasticities in the range -0.1 to -0.2. In addition, we find that subminimum wages moderate these disemployment effects. Card, Katz and Krueger (1993) criticize numerous aspects of our analysis, and contest our conclusions. This reply presents an assessment of their arguments, as well as additional evidence related to some of the criticisms that they raise. We conclude that the issues raised by Card, et al., upon further examination, do not alter the conclusions from our original paper, and in some cases even reinforce those conclusions.
CrakHoBarbie
Active member
Funny, I just stated there was bias in the studies around min-wage. And then you come and prove my point. Well done.
Work effort is worth a specific amount of value, not specific dollar amount. Devaluing the dollar creates a need to increase wages, not value for the work. It is a chicken or the egg issue but both are worth the exact same value no matter what a dollar will buy.
For example...; If a chicken costs three dollars and can feed a family one meal, a man or woman can feed their family for one hours work at three dollars an hour minimum wage. A rate I made back in 1970. If the chicken costs $6 to produce to market, then I need two hours of work top feed my family one meal. Changing minimum wage to $6 so I only have to work one hour, as I did years ago, is just reading water.
The work effort is the same, but the taxable income is greater. So the Gubmit gets more as higher tax brackets are achieved along with higher sales tax and real-estate tax revenues.
The game continues until the dollar is worthless at home and abroad.
For example...; If a chicken costs three dollars and can feed a family one meal, a man or woman can feed their family for one hours work at three dollars an hour minimum wage. A rate I made back in 1970. If the chicken costs $6 to produce to market, then I need two hours of work top feed my family one meal. Changing minimum wage to $6 so I only have to work one hour, as I did years ago, is just reading water.
The work effort is the same, but the taxable income is greater. So the Gubmit gets more as higher tax brackets are achieved along with higher sales tax and real-estate tax revenues.
The game continues until the dollar is worthless at home and abroad.
The lie of minimum wage isn't proven true by studies or consensus. Simple mathematics defeats the argument of cost benefit out of hand.
A person will work for wages that feed and house their family. They will happily work for more. Some actually put out the extra effort to do so. But, they will never work for less.
Economics 101.
When the government tells your employer what wages you must earn, then in effect, you work for the government
CrakHoBarbie
Active member
And yet greed has necessitated min-wage laws since 1938. Slave owners said the cotton industry would collapse without slaves. What type of fabric are you wearing?
You're right. It was greed. But who's is the question to which we both have very different answers.
A greedy employer who pays cheap will get the worker he deserves. His products will not do well in the market place against an employer who treats their employees respectfully.
Been there and done that for over 40 Years now. Survived many a competitor who tried that trick. Most are gone now. We are still here.
An customer will pay what a product is worth. And employer will pay what a labor activity is worth. Cheating either will cost you your business.
Unless the Gubmit helps you cheat.
Minimum wage doesn't solve this equation. At best it forces the use of outside cheap labor or a devalue of the product/service provided. Or both.
SEARS didn't go out of business because Wal-Mart bought and sold cheap goods. Sears lost their reputation, and customer base, because they bought the same cheap goods and put their name on it.
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CrakHoBarbie
Active member
Ok. So your now blaming the Government, saying they are helping laborer's cheat. Look... I appreciate that you don't know anything but grievance politics. I sincerely doubt you would have ANYTHING to say if you couldn't blame everything on somebody else. .... But I digress...... Look, my point is simple. Companies big and small, when left to their own devices, can have the propensity towards maximizing company profits, while ( consciously or unconsciously) minimizing workers wages. That's just the way it is. Min-wage laws are here to protect the little guy.... I get it..... You don't care... Just keep in mind, without folks who think like me, we wouldn't even have social security.
It is not a fair comparison.
Slaves were no cost free labor. Food and housing were provided by the slave owner. The onerousness for the slave was the inability to seek opportunities elsewhere.
Thomas Jefferson noted the industry must be imparted to the young for if they do not acquire that understanding of labor for reward in youth they would not develop those qualities later in life. Minimum wage does nothing to improve opportunities for the young. In fact it removes opportunities for entry into the workforce by cost benefit decisions of the employer.
When an employee's annual wages exceed the cost of a machine that can do the same work, the opportunity for that employee vanishes along with the responsibility to keep them. This the result of the government arbitrarily telling the employer what wages should be and suffering no consequences for the thoughtless execution of such power.
It does nothing to alter any selfishness on the part of either the employer or employee.
Nope. I blame the government for letting both employees and employers cheat.
You really have a problem with comprehension.
As for Social Security, It is not now the self funded program to provide monetary assistance to aging widows as promised at it's initiation. It is a Ponzi scheme retirement insurance scam that could not survive scrutiny were it a private sector operation. It is a tax that takes 15% of every wage earner's pay to create a slush fund for government spending.
I cannot count the number of insurance agents and financial planners that offered me opportunities to invest and plunder/scam the system to gain more cash in my retirement. I refused to participate.
I am on it now at 74 only because the Obamacare insurance mandate forced me to omit my self medical insurance and go on Medicare. The funds I receive are often donated elsewhere. My son who was seriously injured in the Navy during Clinton's reign, but receives nothing incompensation, gets much of it.
Are you A bot? There is something wrong with you? I don't post all day because I am a general contractor and work all day, likely something you know nothing about. Anyone that thinks that when you raise wages for menial beginner jobs and 1- the prices won't rise and 2- businesses won't lay people off and automate if there able, is an idiot. I believe you belong in that category.
CrakHoBarbie
Active member
Your right about one thing. I've bundled you in with the majority of Republicans who spew their grievance politics at me all day long. ...... Now, what your failing to acknowledge is that for most U.S. workers, wages haven't budged in decades. Here's some info for you to educate yourself with. I feel bad watching you wallow in ignorance whilst angrily lashing out. So, consider this my gift of knowledge .....for you. Enjoy!! https://www.pewresearch.org/fact-ta...rs-real-wages-have-barely-budged-for-decades/
CrakHoBarbie
Active member
Oh my.... So your a communist? Benefiting from commie socialist programs enacted by that commie FDR...... How do you feel about that?
The reason wages had stagnated in the US was due to NAFTA and other one sided trade agreements, like with China. Simply put there were fewer jobs and that equated to lower wages, simple economics. When Trump was elected and we renegotiated those agreements jobs came back and wages started to rise. Next was COVID and that is where we are right now. There are a demand for workers in all industries that can not find workers. Likely due to the $1000.00 a week unemployment with no expiration date. I don't mind educating you, but you need to drop the attitude.
I seriously doubt you actually know what a "Communist" even is. Apparently you cannot read either. As I said, post #51, I do not use the SS funds for myself. At 74 I still earn my bread and savor the fruit of my own labor.
I also stated that I hate the fact that the SS program even exists. So now you can accuse me of hating old widows and orphans too.
Anyone else who read my post got that. Not you of course, 'cause you are not here to discuss anything. Just bitch and put others down from the safety of your keyboard sanctuary. So far, you are what you accuse of others. A total waste of conversation. As far as I can see, you have earned no currency here.
I did not depend on SS for my retirement plans. That's why I don't need it or want it. I collect because I paid the maximum every year my entire working life. Frankly, I assumed FDR's SS program is so corrupted, would be broke by now. Actually, it is, but we just continue to print money to fill in the gap. And the national debt rises.
And yet, I'm betting you are sucking up every option the Gubmit provides.
On what did you spend your COVID bonus? When told I couldn't refuse mine, I gave it to charities. It's not that I couldn't use it. I simply disagreed with the program because I did nothing to earn it. I doubt you did either.
I don't buy products from companies I don't like or trust. I don't trust a government that takes the bread from those who earned it and gives it to those they favor. The last thing I'm gonna' do is blindly trust our government to keep it's promises. The founders warned us. Some have taken heed to their wisdoms.
Talk the talk, walk the walk. Or, your integrity is worth nothing.
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Real wages have barely budged No argument there except that minimum wage hikes have done NOTHING to change that. In the time period of your dubious PEW research real wages declined DESPITE increased Minimum wages.
Statistics are interesting creatures. One can always torture them to say and prove what you want. Pew research frequently proves that axiom.
And fools believe it.
CrakHoBarbie
Active member
More nonsensical grievance politics. It's all you do. Just whine and whinge and complain. And your ill informed. The extra unemployment runs out Sept. 4th of this year. Just keep rambling on not knowing a thing about what your talking about. Your the consummate Republican.
CrakHoBarbie
Active member
Pew?...... Dubious?...... I guess it's all a giant conspiracy for you. Everything you disagree with is fake..... Dubious..... A manipulation by the powers that be. ... Must be wonderful to just be able to discount everything that doesn't point your way so easily. I will agree with you on one point. Way to many fools lying with statistics. Any stat can be manipulated to show whatever you want.