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Thread: CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs

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    Re: CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs

    Quote Originally Posted by cpwill View Post
    If the money came from wal-mart in the first place, then it's not more money going back into the economy, it's a net loss for Wal-Mart and the economy.
    If only Wal-mart raises their wages, yes its a net loss. However if the wage is raised across the nation it actually improves their position. Wal-mart has been fighting for an increase for years.

    Walmart Could Actually Benefit From Minimum-Wage Hike

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    Re: CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs

    Quote Originally Posted by Verax View Post
    If only Wal-mart raises their wages, yes its a net loss. However if the wage is raised across the nation it actually improves their position. Wal-mart has been fighting for an increase for years.

    Walmart Could Actually Benefit From Minimum-Wage Hike
    Yes it would be a net loss for Wal-mart and if the wage is raised across the nation all the companies in the country loose and less workers are hired.
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    Re: CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs

    Quote Originally Posted by cpwill View Post
    The ability of people to deny what they do not wish to believe should never be underestimated.


    Dang, I ought to put that up in quotes and trade-mark it.
    You should.
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    Re: CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs

    Quote Originally Posted by Born Free View Post
    Yes it would be a net loss for Wal-mart and if the wage is raised across the nation all the companies in the country loose and less workers are hired.
    Companies like Wal-Mart would benefit greatly because their customer base is heavily in the lower income bracket. Everyone in retail's vast supply chain would also benefit.

    Whether or not this would be good or bad overall is a contentious matter. Considering all the research I think it would do more good than harm especially considering how badly the economy needs stimulus right now.

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    Re: CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs

    Someone raised a good point earlier ...
    how come something like raising gas prices in order to encourage less driving is an accepted practice but raising the minimum wage is claimed to have no effect on employment?

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    Re: CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs

    Quote Originally Posted by Erod View Post
    He'll spend more at Wal-mart, but take home the same merchandise. Cost goes up, prices go up, too. It's already happening as grocery prices are taking off.
    I think you're forgetting the Wal-Mart low price pledge


    Always.

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    Re: CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs

    Quote Originally Posted by Verax View Post
    Companies like Wal-Mart would benefit greatly because their customer base is heavily in the lower income bracket. Everyone in retail's vast supply chain would also benefit.

    Whether or not this would be good or bad overall is a contentious matter. Considering all the research I think it would do more good than harm especially considering how badly the economy needs stimulus right now.
    We already did a trillion dollar stimulus and no results vs the expense.

    Further if raising the minimum wage is good then where do you see how much the minimum wage should be? If raising the minimum wage is good then should it not be raised to $100 an hour or more. Meaning the more the minimum wage is increased the more the economy grows. We are now at a growth rate on average at 2 percent, with a raise to $100 minimum wage the economy should burst with growth. Is this not your view?
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    Re: CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs

    Quote Originally Posted by Verax View Post
    If only Wal-mart raises their wages, yes its a net loss. However if the wage is raised across the nation it actually improves their position. Wal-mart has been fighting for an increase for years.
    Can you post a link citing Walmart pushing for a minimum wage increase? I hadn't been aware of that.

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    Re: CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs

    Quote Originally Posted by Verax View Post
    There are other economists and credible research that tells a different story.
    Sure. And according to the National Bureau of Economic Research, those economists are in the rather distinct minority.

    ...We review the burgeoning literature on the employment effects of minimum wages - in the United States and other countries - that was spurred by the new minimum wage research beginning in the early 1990s. Our review indicates that there is a wide range of existing estimates and, accordingly, a lack of consensus about the overall effects on low-wage employment of an increase in the minimum wage. However, the oft-stated assertion that recent research fails to support the traditional view that the minimum wage reduces the employment of low-wage workers is clearly incorrect. A sizable majority of the studies surveyed in this monograph give a relatively consistent (although not always statistically significant) indication of negative employment effects of minimum wages. In addition, among the papers we view as providing the most credible evidence, almost all point to negative employment effects, both for the United States as well as for many other countries. Two other important conclusions emerge from our review. First, we see very few - if any - studies that provide convincing evidence of positive employment effects of minimum wages, especially from those studies that focus on the broader groups (rather than a narrow industry) for which the competitive model predicts disemployment effects. Second, the studies that focus on the least-skilled groups provide relatively overwhelming evidence of stronger disemployment effects for these groups....

    That's a great way to "hide the decline", so to speak; measure the impact of minimum wage hikes against the entire working populace, rather than, you know, the ones effected by it.

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    Re: CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs

    Quote Originally Posted by Wiseone View Post
    I think you're forgetting the Wal-Mart low price pledge
    Wal-Mart doesn't get to upend economic reality. If the cost of producing, shipping, storing, and then selling a good to you goes up, so too, must the price. Especially if the good is already sold in such a manner as to slice profits low so as to make a bundle on volume. Like, for example, the goods at Wal-Mart.

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