What happens if Biden gets his $15 minimum wage passed?

The data is a lagging indicator. The multiplier takes time to engender the effects. The fourteen dollar an hour minimum wage for employers with more than twenty-five employees took effect this year. And, they can afford it better now than before.

How much time does it take (according to historical data, not according to your wishful thinking)?

The fourteen dollar an hour minimum wage for employers with more than twenty-five employees took effect this year.

Calipornia has been raising the statutory minimum wage for all employers for years.

https://www.dir.ca.gov/dlse/FAQ_MinimumWage.htm


And, they can afford it better now than before.

According to...you?
 
Is that so? Give me some examples.

So you say. Copied from the Wikipedia demand-side entry?

How's that working in the jurisdictions that already have legislated higher minimum wages?

So you say. Employers must be able to afford your first world wages, or they aren't competitive with countries (like Communist China) that don't protect the rights of workers.
It takes time for the multiplier to have the intended effect; however, anyone who is making more now has greater purchasing power now. The least wealthy tend to spend most of their income sooner rather than later on goods and services.

Employment is at the will of either party. There should be no requirement to work in any at-will employment State (for unemployment compensation); that is a legacy of black codes that were created to keep the Poor, poor.

I am not sure what you mean. It sounds more like lousy public policies on our part. Corporate welfare is alive and well and has even paid multimillion dollar bonuses.

From 1978 to 2018, CEO compensation grew by 1,007.5% (940.3% under the options-realized measure), far outstripping S&P stock market growth (706.7%) and the wage growth of very high earners (339.2%). In contrast, wages for the typical worker grew by just 11.9%.
https://www.epi.org/publication/ceo-compensation-2018/

Trade wars are worthless, especially when the right wing lost theirs.
 
Earlier I posted an article on how the $16 an hour minimum wage in Seattle, that's already in place, has negatively affected workers there but LV426 didn't bother to read that or if he did, didn't understand it.

Let's face it - the DEMOCRATS are in a position to do whatever they like. Remember how they rammed Obamacare through and then blamed Trump when it (predictably) failed to work as promised?

We'll see the national results soon enough.

The media can't hide a downturn for long, so I anticipate a lot of blame shifting.
 
It takes time for the multiplier to have the intended effect; however, anyone who is making more now has greater purchasing power now. The least wealthy tend to spend most of their income sooner rather than later on goods and services. Employment is at the will of either party. There should be no requirement to work in any at-will employment State (for unemployment compensation); that is a legacy of black codes that were created to keep the Poor, poor. I am not sure what you mean. It sounds more like lousy public policies on our part. Corporate welfare is alive and well and has even paid multimillion dollar bonuses. From 1978 to 2018, CEO compensation grew by 1,007.5% (940.3% under the options-realized measure), far outstripping S&P stock market growth (706.7%) and the wage growth of very high earners (339.2%). In contrast, wages for the typical worker grew by just 11.9%.

Irrelevant claims.

You failed to answer any of my questions, and I believe we both know why.
 
Well, we know right away that most of those 58M people don't get health care through their jobs. Most of them are on Medicaid. Others are on the ACA. When it comes down to it, very few of those 58M people have employer-provided health care. Most of them are on Medicaid or get their insurance through the ACA because their jobs don't offer them.

So what else ya got?

Tells me they either need to get a new job or offer better skills that warrants that as compensation. Either that or get you to pay their premiums.
 
Well, we know right away that most of those 58M people don't get health care through their jobs. Most of them are on Medicaid. Others are on the ACA. When it comes down to it, very few of those 58M people have employer-provided health care. Most of them are on Medicaid or get their insurance through the ACA because their jobs don't offer them.

Cite the data that substantiates these claims.

Naturally, I'll understand if you don't.
 
Well, no one would know it based on how you framed it all. You left that shit out. Why? Because you are trying to frame the MW increase as a universally bad thing, not because of the economics, but because of your personal subjective judgement, which you articulated so cleanly here when you substituted that subjectivity for objectivity:



How so? If a worker is choosing to work less hours, how is that a bad thing?




?????

Consumer spending is the ONLY THING that always creates jobs. Consumer Spending = Demand. It's the same thing. Increasing consumer spending increases demand, and businesses have to expand in order to meet that demand.

Or they can close their doors and say "no thanks, I've made all the money I want to make"...though, I don't know how many would do something like that just to prove a point.

Killing your business to own da libs...




No, that's not what they said. You even said so yourself here:



So help me understand why you said what you said, but made no mention of the other piece of the MW increase, which is increased consumer spending and demand?

You left all that out of your "analysis" and final judgment here, and I want to know why?

yes. he is doing that. that's libertarians. they're kind of fascisty now
 
Irrelevant claims.

You failed to answer any of my questions, and I believe we both know why.

Is it just me or did those clamoring for a $15/hour minimum call it a living wage? The implication of the term "living wage" has nothing to do with what LV says the money would be used for, the extras that would create more demand, but being able to provide the basic needs of food, clothing, and shelter.
 
biden is someone the globalists can work with. as long as he doesn't do something "crazy" like raise the minimum wage.

is biden gonna do it, lv? what is his position? I bet now isn't the time, for unity.
 
Is it just me or did those clamoring for a $15/hour minimum call it a living wage? The implication of the term "living wage" has nothing to do with what LV says the money would be used for, the extras that would create more demand, but being able to provide the basic needs of food, clothing, and shelter.

:dunno:

If hiking the minimum wage by government fiat is so effective at making the poor prosperous, why are four of the five American cities with the highest rate of unsheltered homelessness in Calipornia: San Franshitsco, Los Angeles, Santa Rosa and San Jose.

Deep- blue Seattle joins the Calipornia municipalities in the top five.

The DEMOCRAT-dominated District of Columbia has the highest unsheltered homeless rate in the country - 5.8 times the U.S. rate.

DEMOCRAT-dominated Blue York is next, followed by Hawaii, Oregon and Calipornia - all under one-party rule.

These five states together comprise 20% of the overall U.S. population but 45% of the country’s homeless population.



https://www.marketwatch.com/story/this-state-is-home-to-nearly-half-of-all-people-living-on-the-streets-in-the-us-2019-09-18
 
:dunno:

If hiking the minimum wage by government fiat is so effective at making the poor prosperous, why are four of the five American cities with the highest rate of unsheltered homelessness in Calipornia: San Franshitsco, Los Angeles, Santa Rosa and San Jose.

Deep- blue Seattle joins the Calipornia municipalities in the top five.

The DEMOCRAT-dominated District of Columbia has the highest unsheltered homeless rate in the country - 5.8 times the U.S. rate.

DEMOCRAT-dominated Blue York is next, followed by Hawaii, Oregon and Calipornia - all under one-party rule.

These five states together comprise 20% of the overall U.S. population but 45% of the country’s homeless population.



https://www.marketwatch.com/story/this-state-is-home-to-nearly-half-of-all-people-living-on-the-streets-in-the-us-2019-09-18

its not high enough?
 
:dunno:

If hiking the minimum wage by government fiat is so effective at making the poor prosperous, why are four of the five American cities with the highest rate of unsheltered homelessness in Calipornia: San Franshitsco, Los Angeles, Santa Rosa and San Jose.

Deep- blue Seattle joins the Calipornia municipalities in the top five.

The DEMOCRAT-dominated District of Columbia has the highest unsheltered homeless rate in the country - 5.8 times the U.S. rate.

DEMOCRAT-dominated Blue York is next, followed by Hawaii, Oregon and Calipornia - all under one-party rule.

These five states together comprise 20% of the overall U.S. population but 45% of the country’s homeless population.



https://www.marketwatch.com/story/this-state-is-home-to-nearly-half-of-all-people-living-on-the-streets-in-the-us-2019-09-18

In places like those you mentioned, the increased minimum wage experiment failed as predicted.

One would think that providing that living wage would mean less not more homelessness.
 
It never is, is it?

I've never seen a DEMOCRAT take money out of their own wallet to help a struggling minimum wage worker.

Have you?

In fact, they routinely deride "burger flippers" on this forum, don't they?

rarely.

and yes they do.

they also hate american workers.

dem = hate american workers because they're american.

rep = hate american workers because they're workers
 
In places like those you mentioned, the increased minimum wage experiment failed as predicted. One would think that providing that living wage would mean less not more homelessness.

According to one leftist, it's the fault of "right-wingers", CEO pay, something he calls "black codes", and they need more time t work, but he can't say how much more.
 
According to one leftist, it's the fault of "right-wingers", CEO pay, something he calls "black codes", and they need more time t work, but he can't say how much more.

It's always one generation away. Much like their claims on climate change. They say doing certain things will help the problem they claim exists yet can't say how much or by when.
 
The money to double that wage has to come from somewhere. Where that "somewhere" is could make the wage increase effectively void.

The money to double the wage comes from revenues, as it always does.

Have you...have you ever worked in a business before?


Really? You so far haven't sourced a thing you've claimed.

What would you like a source for?

That 58M people make below $15/hr right now?

That raising the wage from $7.50/hr to $15/hr keeps that worker in the same bracket? (I already sourced that for you, and as usual, you just ignored it because it was inconvenient to your argument).

That increasing consumption increases revenues?

I don't understand what you're looking for, and I don't think you even know what you're looking for either.


You keep making a argument that is void of any other influences or pressure other than the wage goes up.

Are you fucking kidding me with this bad faith desperate bullshit????

From WHAT I WROTE THAT YOU LITERALLY QUOTED:

I have said that at least a dozen times that costs will nominally and/or incrementally go up,

So again, you are in the habit of hastily and sloppily responding to threads that you don't even take the time to read before responding to them!

What the fuck dude?
 
:dunno:

If hiking the minimum wage by government fiat is so effective at making the poor prosperous, why are four of the five American cities with the highest rate of unsheltered homelessness in Calipornia: San Franshitsco, Los Angeles, Santa Rosa and San Jose.

Deep- blue Seattle joins the Calipornia municipalities in the top five.

The DEMOCRAT-dominated District of Columbia has the highest unsheltered homeless rate in the country - 5.8 times the U.S. rate.

DEMOCRAT-dominated Blue York is next, followed by Hawaii, Oregon and Calipornia - all under one-party rule.

These five states together comprise 20% of the overall U.S. population but 45% of the country’s homeless population.

https://www.marketwatch.com/story/this-state-is-home-to-nearly-half-of-all-people-living-on-the-streets-in-the-us-2019-09-18

I remember a case where Long Beach raised their minimum wage (this was back in the early 90's) and made employer health insurance near mandatory. One of the harder hit business sectors was that for janitorial and maid staff at things like hotels and other commercial businesses. These throughout Long Beach fired their employees in those jobs eliminating them from their staff where those jobs existed.
They were then replaced by employees of contractor companies that did that sort of work that were not based in Long Beach. Thus, these businesses could pay their employees a much lower wage even as they worked in Long Beach. This was because legally, they weren't employed by a company that was in Long Beach.
The result was that many residents of Long Beach lost their jobs. The city lost revenue, and the jobs still got done at a lower wage by employers gaming the system.

Here in Arizona when the minimum wage laws were changed about the same time, the new law had no exemptions written into it. One particular industry / business sector basically ceased to exist within months losing about 7,000 jobs. That was companies that employed the severely handicapped.
Previously, these companies employed severely handicapped persons to do very marginal jobs like stuff envelopes, or other simple tasks they could handle, but were allowed to pay a much lower wage that didn't impact their government or insurance benefits they received because of being severely handicapped. At the same time, many of these individuals wanted to work at these jobs because it gave them a feeling of self-worth, accomplishment, and social activity.
With the new much higher wage that would have to be paid those companies couldn't afford the pay and those receiving it would have had their other benefits outside employment threatened with ending--something they could ill afford. So, their jobs disappeared. It was bad for them, bad for the economy, bad for the employers.

As for homelessness... I doubt raising the minimum wage to $15 an hour will find more of them employed. On the other hand, it may very well increase their numbers...
 
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