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

[PoliTalker]

Hello Walt,

California is another state headed for $15, but not there yet. In California, it will be $15 for employers of 26 or more in 2022, and $15 for everyone in 2023. It is $14 now, and was $13 in 2020.

OK, thanks. And that's the way a national one should be phased in as well. Gradually ease in the changes. Let everybody know well in advance, and take years to do it. All of these arguments about 'So, overnight, businesses would no longer be viable,' are really BS.

 

[T. A. Gardner]

Should also be noted that this would affect 58,000,000 workers, 42% of the current workforce.

If 58M people suddenly had up to an extra $6K to spend a year, you're going to see a lot of consumer spending.

It's just good economics, particularly right now when we are all stuck with Trump's COVID.

Or, you'd see a giant spike in unemployment as workers got laid off...

 

[Walt]

You could get creative with that. You could say: 'Either you spend [everything over a certain amount] for the good of society, (and make it something that can be verified) or we'll tax it away from you and do it ourselves. One way to spend it for the good of society would be to simply raise the wages of all the workers that earned it.

There is always the fear that too much money/assets will get locked into an upper class, just like during the Dark Ages. That is actually bad for the entire economy. So some sort of progressive tax is usually suggested, along with inheritance tax, property tax, etc. Setting a maximum wage seems somewhat extreme, but there really does have to be a maximum percent of the economy that one person, or a small group, can control. There needs to always be a way to move up or down in the economy.

 

[War=Peace]

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?

Democrats: Hell-bent on burning the country to the ground

 

[Noking]

That'd be nice. The roughly equivalent to $50 an hour I make on retirement pay isn't enough for a really lavish lifestyle so getting more would be nice!

 

[PoliTalker]

Hello Dutch Uncle,

AKA My way or the Highway. I love how authoritarian Democrats look when the truth comes out.

Most Americans are not buying the shit you are selling, counselor.

No one on this forum needs to know who you work for or what you do but can you at least confirm you are not some corporate lawyer asshole representing the very same people you are fighting?

I can guarantee you this: I'm not one of them. I'm just a worker bee. I do understand the need for a Queen bee. OTOH, sometimes Queens need to be replaced. The Hive goes on. Just please confirm you are not a lawyer working for a corporation.

'Democrats?'

You were talking to one person.

How do you get judging the entire Democratic party out of that?

 

[Dutch Uncle]

Hello Dutch Uncle,



'Democrats?'

You were talking to one person.

How do you get judging the entire Democratic party out of that?

He's been backed up with a few others too including yourself, sir. I understand the drive for revenge. All I'm trying to say is it often slows down the progress many here claim they desire. Hate begets hate.

 

[Dutch Uncle]

Democrats: Hell-bent on burning the country to the ground

Do you think they do it because over 80 million Americans are evil or because they are trying to do the right thing in a fucked up manner?

If the latter, I agree with you. If the former then I completely disagree.

 

[PoliTalker]

Hello Walt,

There is always the fear that too much money/assets will get locked into an upper class, just like during the Dark Ages. That is actually bad for the entire economy. So some sort of progressive tax is usually suggested, along with inheritance tax, property tax, etc. Setting a maximum wage seems somewhat extreme, but there really does have to be a maximum percent of the economy that one person, or a small group, can control. There needs to always be a way to move up or down in the economy.

I know, right? The problem with greed is that it is self-defeating. By the greediest members of society attempting to gather as large a percentage of the overall wealth into one little pot they call their own as they can, that shuts a lot of other people out of capital and opportunity. The rest of the economy, basically. If there's less wealth in circulation, then there is less opportunity to create a business that seeks it.

The greater wealth inequality becomes, the fewer well-paying jobs are available for the rest of society to compete for.

If taken to the extreme, then one person owns all the wealth and everyone else is destitute, has nothing. There can then be no economy at all. There would be no businesses for the one rich person to buy products from. That one person already has all the wealth. No one else would be able to buy anything because none of them would have even one penny. Actually, money would become pointless. People would have no property, simply be hunter-gatherers. Most people in today's society would die.

But that's just the most extreme case. 100% wealth inequality.

We are not there yet. We are on our way. Wealth inequality is growing steadily, and that is a problem.

The more extreme wealth inequality becomes, the less possible it is for there to be a booming economy.

 

[CFM]

California is another state headed for $15, but not there yet. In California, it will be $15 for employers of 26 or more in 2022, and $15 for everyone in 2023. It is $14 now, and was $13 in 2020.

A prime example of people getting paid far more than they're worth. And you wonder why people are leaving California in droves.

 

[PoliTalker]

Hello Dutch Uncle,

He's been backed up with a few others too including yourself, sir. I understand the drive for revenge. All I'm trying to say is it often slows down the progress many here claim they desire. Hate begets hate.

That's ridiculous. I've not sought revenge. That's not me. Your're totally confusing my position with somebody else. We've had too many conversations for you to not know my motivations.

Your extension is beyond the pale. Even if you find a few posters on a chat board that want revenge, that does not translate into the entire Democratic party.

 

[CFM]

Hello Dutch Uncle,



That's ridiculous. I've not sought revenge. That's not me. Your totally confusing my position with somebody else. We've had too many conversations for you to not know my motivations.

Your extension is beyond the pale. Even if you find a few posters on a chat board that want revenge, that does not translate into the entire Democratic party.

What you are is a coward that went into hiding after being embarrassed by your superiors. Deny that, boy.

 

[AProudLefty]

When the wage increases, be prepared when the price increases. And that's a bad thing?

 

[Nordberg]

Elevating the nin wage does not increase unemployment. It has been increased in many places and the data proves that. https://equitablegrowth.org/research-shows-raising-the-minimum-wage-does-not-spell-job-loss/ There are many economic articles on the net that will corroborate.

 

[War=Peace]

Do you think they do it because over 80 million Americans are evil or because they are trying to do the right thing in a fucked up manner?

If the latter, I agree with you. If the former then I completely disagree.

A reasonable question; I think it's a dangerous mix of rank & file dupedness and upper-level psychopathy.

So we can agree to partially agree.

 

[War=Peace]

When the wage increases, be prepared when the price increases. And that's a bad thing?

Price increases are the least of it.

We're already in a phase of mass mechanization; the layoffs this wage increase will bring about will be horrendous.

But you need to understand that upper level Democrats are psychopaths serving their corporate masters.

And their corporate masters want mass unemployment, chaos and misery.

Dark Days promised & about to be delivered in spades.

 

[AProudLefty]

Price increases are the least of it.

We're already in a phase of mass mechanization; the layoffs this wage increase will bring about will be horrendous.

But you need to understand that upper level Democrats are psychopaths serving their corporate masters.

And their corporate masters want mass unemployment, chaos and misery.

Dark Days promised & about to be delivered in spades.

LOL

 

[Dutch Uncle]

What I would like to see would be a maximum wage ratio, [total executive wages + perks + benefits + stock, all of it] vs [lowest wages paid in the organization.]

This would force highly profitable companies that earn more to pay more.

Also factor in something about company profits.

A creative law that says: 'If the company is doing really well, they need to pay the workers really well.' However that law wording needs to be structured.

Some businesses are just making an absolute killing, and they are not sharing it with the workers that produce it.

That's what needs to change.

Jeff Bezos is representative of everything that is wrong with capitalism. Likens it to feudalism.

What other nation(s) have found success with this method of nationalized pay scales?

More tried and true is to replace the taxe rates Ronald Reagan imposed during his two terms. Some people may balk at that, so I'd settle for the tax rates in 2000. Spending money we don't have is a path to the poor house. Regardless of the D or the R, the National Debt keeps going up. It should be fixed. There's an basic 2 + 2 = 4 fact that if tax rates are lowered below that of the nation's funding requirements, they'll go into debt. It's not rocket science.

Additionally, I'd certainly agree to a more equitable spread of education in the US. IIRC, 92% of all school funding is local or state. The Feds only pay 8%.

Americans move around. Those with money move to places with better schools which leaves the school they left short on funding. Leaving Americans to grow up without an education only allows them to become tax liabilities, not productive taxpayers.

The national education situation is as fucked up as Trump's last budget. Smarter kids solve tougher problems, like the problems we're in now.

 

[War=Peace]

LOL

LOL is what psychopaths do when their plans succeed, yes.

 

[AProudLefty]

LOL is what psychopaths do when their plans succeed, yes.

Not a word about upper level Republican psychopaths serving their masters? Boy you truly are partisan.