The problem is that states can't be trusted to do the right thing. At least not all of them. I would agree that it would be preferable to have states and localities establish these standards, but our minority rules system is forcing our hand. I guarantee there will be exceptions that address the major impacts (restaurants, seasonal workers, etc).
What happens if Biden gets his $15 minimum wage passed?
- Thread starter T. A. Gardner
- Start date
The problem is that states can't be trusted to do the right thing. At least not all of them. I would agree that it would be preferable to have states and localities establish these standards, but our minority rules system is forcing our hand. I guarantee there will be exceptions that address the major impacts (restaurants, seasonal workers, etc).
PoliTalker
Diversity Makes Greatness
Please pardon me for interrupting the insult contests with an on-topic comment, but here goes:
If MW goes up then the whole lower end of the pay scale will also go up. MW jobs, plus others at slightly higher wage meant to be fair remuneration for workers with more experience and skill will get a raise.
This will put a lot more money into the hands of those at the lower end of the income scale.
That money will likely be spent rather than saved, meaning a lot more money will be injected into the economy. That's going to go somewhere, probably creating opportunity and jobs at the lower end.
Some businesses will struggle to deal with the increased costs, others will find new customers willing to spend money they never had previously.
Wages previously just above MW will also rise, and the bump will shift most wages at the lower end of the scale, with decreasing adjustments as we look higher in the wage scale.
There will be some inflation, but it won't be as much as the hike in the MW. A little inflation is actually a good thing.
One good thing will be a reduction in people on government assistance, since working will be more worth while. There will be fewer instances of people on welfare getting a larger income than working people, something which never should have been upside down.
The overall effect will be one of reducing or slowing the trend toward extreme wealth inequality.
As far as workers losing jobs, some will, but the increased income at the lower end will be spent in the economy and that creates opportunity for businesses to fill. Jobs will be lost and others will be gained or increased.
Workers may find it easier to live on fewer jobs and won't have to commute as far or for as much time. This will reduce traffic, driving, fuel burn, pollution, and climate change. Workers who earn more may not need to work as many hours to have a life and will be able to be better parents, spend more time with their children - a hidden benefit to society and law enforcement. Workers will more free time on their hands and more money in their pockets will be able to spend more on leisure, a boon to the economy. This leads to job creation.
Big picture:
If there is money in the economy there will be consumerism, which creates jobs. More money, more jobs.
No employer will be able to cut jobs that are needed and still maintain production. If a job needs to be done it needs to be done. Work that previously required 5 workers will still require 5 workers. All the changes which could have reduced the number of needed workers have already been sought. Needing to pay the workers more will not reduce the amount of work that needs to be done.
Some automation increase will be justified, but that was already in progress and would have occurred anyway in time.
There is no hard fast rule that this new wage will be snapped into place overnight. Most likely, it would be set to occur gradually over a set period of time, giving businesses time to adjust to the new costs of doing business. It would probably be phased in incrementally, over a period of years, giving everyone a chance to plan and adjust. Overall, it will be better for most of America.
If MW goes up then the whole lower end of the pay scale will also go up. MW jobs, plus others at slightly higher wage meant to be fair remuneration for workers with more experience and skill will get a raise.
This will put a lot more money into the hands of those at the lower end of the income scale.
That money will likely be spent rather than saved, meaning a lot more money will be injected into the economy. That's going to go somewhere, probably creating opportunity and jobs at the lower end.
Some businesses will struggle to deal with the increased costs, others will find new customers willing to spend money they never had previously.
Wages previously just above MW will also rise, and the bump will shift most wages at the lower end of the scale, with decreasing adjustments as we look higher in the wage scale.
There will be some inflation, but it won't be as much as the hike in the MW. A little inflation is actually a good thing.
One good thing will be a reduction in people on government assistance, since working will be more worth while. There will be fewer instances of people on welfare getting a larger income than working people, something which never should have been upside down.
The overall effect will be one of reducing or slowing the trend toward extreme wealth inequality.
As far as workers losing jobs, some will, but the increased income at the lower end will be spent in the economy and that creates opportunity for businesses to fill. Jobs will be lost and others will be gained or increased.
Workers may find it easier to live on fewer jobs and won't have to commute as far or for as much time. This will reduce traffic, driving, fuel burn, pollution, and climate change. Workers who earn more may not need to work as many hours to have a life and will be able to be better parents, spend more time with their children - a hidden benefit to society and law enforcement. Workers will more free time on their hands and more money in their pockets will be able to spend more on leisure, a boon to the economy. This leads to job creation.
Big picture:
If there is money in the economy there will be consumerism, which creates jobs. More money, more jobs.
No employer will be able to cut jobs that are needed and still maintain production. If a job needs to be done it needs to be done. Work that previously required 5 workers will still require 5 workers. All the changes which could have reduced the number of needed workers have already been sought. Needing to pay the workers more will not reduce the amount of work that needs to be done.
Some automation increase will be justified, but that was already in progress and would have occurred anyway in time.
There is no hard fast rule that this new wage will be snapped into place overnight. Most likely, it would be set to occur gradually over a set period of time, giving businesses time to adjust to the new costs of doing business. It would probably be phased in incrementally, over a period of years, giving everyone a chance to plan and adjust. Overall, it will be better for most of America.
No, you don't. You're faking your way through this debate because you have absolutely no education on the subject. None. You're making it all up as you go.
The Republicans are wrong to continually throw a rod in the engine of progress. Get on board or get lost.
Insofar as the interstate commerce clause as interpreted by scotus gives congressional jurisdiction, the power thus conferred
by the constitution should be exercised by the congress. How many years of inflation without a COLA rise for the poorest earners?
$15 doesn't look like much in that light. Yes the economy is going to do what it is going to do in the pass it on department, so what.
We are going to do what we should do in the give the poor a legal mandated raise department.
Here's an idea, you give the minimum wage a hike to $15 or we will cap income at $10 million per annum and abolish incentive
stock options for executives. How ya like dem apples? I bet I get my paltry $15 if that happened. Everyone with clout
would back the minimum wage raise.
The poor don't have lobbyists, and that's why the laws favor the rich.
MAGA MAN
Let's go Brandon!
Yes, and yes.
Right, but you're also getting more revenues because the pizza costs more and more people are buying your shitty pizza.
Yes! Welcome to the concept of consumer demand. Yikes.
It will MORE than make up for the increase because we are talking tens of millions of people all over the country.
Poor people and low-income people do, yes. And poor people and low-income people are who would be affected by this.
The difference between us, though, is that I can apply critical thinking to what I've learned from Ford...whereas you ignore it because it's more important for your beliefs to be heard rather than for your beliefs to be correct.
Red Jenkins
Verified User
You mentioned that an increased MW would increase demand. I used pizza as an example. So let me ask you a question, what do you think would better increase the demand for pizza? Higher employee wages or lower pizza prices?
Completely agree. How many minimum wage workers could receive a higher wage if we simply reduced the bloated exec/worker compensation ratio? No need to raise prices. We're simply shifting compensation to the lower end of the earning scale, where it will have a more positive impact on growth. Win/win. Some rich guys might need to forgo the third yacht. Them's the breaks.
Red Jenkins
Verified User
I doubt you're much of an economist. You have good ideas but youre not krugman or friedman
So, what happens if Biden gets the minimum wage to $15 an hour?
Here's were the minimum wage is right now:
In many states that more than doubles it overnight. Given the current state of business closures for Chinese Disease, will they just decide to close for good in those states? Will employers be able to take that big a wage hit? Will the states with larger portions of the population at minimum wage take a bigger hit?
How will this affect workers making $15 an hour or more?
My prediction is it is one of many blows that the economy will take causing recovery to grind to a halt... Will Biden blame Trump for that?
When min goes up, everyone else goes up too.
Min wage jobs go away and EVERYTHING else gets more expensive. More grannies switching to cat food.
No it doesn't. Not at all.
Let's think about whose demand we are affecting with the increase to the wage, and how many people it affects....
About 42% of US workers make less than $15/hr. That comes to about 58 million people.
So...let's think this through logically. If those 58M people suddenly got big wage increases to $15/hr, what do you think they are going to do with that new money?
Hoosier Daddy
Verified User
trump made way more than the presidential salary by making sure to go golfing at trump owned resorts, and charging all the secret service guys and other government folks assigned to the traitor bitch as much as he could for their room and board....his salary was only 200K...
Report: U.S. Government Paid Over $2.5 Million To Trump's ...www.forbes.com › sites › joewalsh › 2020/10/27 › rep...
Oct 27, 2020 — The Trump Organization charged the government for food and hotel rooms ... All Leadership · Careers ... at the Trump National Golf Club Bedminster used by the Secret Service, and ... The Trump campaign and the Trump Organization did not ... Trump's habit of traveling to his own resorts as president is ...
https://www.forbes.com/sites/joewal...million-to-trumps-businesses/?sh=32778d41a623
Both. Higher employee wages however will have a greater impact on increasing demand. What do you suppose is the breakage on BOGO pizza deals? It's massive. Higher minimum wage means more consumer spending on pretty much everything.
Red Jenkins
Verified User
Do you foresee having the government limit what someone could make? If you have a minimum wage why not a maximum wage?
NO!
WRONG!
An economy is always, always, always based on demand.
ALWAYS.
Why would you have no production if you just increased demand by increasing wages??????
If your matter of practice now is to link to bullshit Op-Eds instead of the truth, then we can't continue this debate.
Until you act in good faith, I am just not going to entertain your regurgitated, uninformed bullshit.
Yes, we should effectively limit how much a top person can make by increasing the top marginal tax rate. It should be at around 90%. Worked just fine post World War II.
What "reason"? Because you're here trying to convince me to hug Nazis and I'm telling you that I won't under any circumstances.
Red Jenkins
Verified User
I don't know what the breakage is. Tell me. "Massive" really doesn't mean anything. So if a person is presently making $12 and hour and it goes to $15 how much more in real doars will they spend? After taxes $3 an hour doesnt put much more in net pay
Your "point" is false.
https://www.upjohn.org/research-hig...rve that small,and may actually reduce prices.
By looking at changes in restaurant food pricing during the period of 1978–2015, MacDonald and Nilsson find that prices rose by just 0.36 percent for every 10 percent increase in the minimum wage, which is only about half the size reported in previous studies. They also observe that small minimum wage increases do not lead to higher prices and may actually reduce prices. Furthermore, it is also possible that small minimum wage increases could lead to increased employment in low-wage labor markets.
Do you not know how to scale up numbers? Or reduce fractions? You fucking tard?
$3 per hour x 40 hours per week, = $120/week or around $500 per month, or $6,000 per year.