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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 bubbabgone View Post
    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?
    I can only imagine that either people don't want to admit that labor is a good or service because we provide it, or they want to raise the minimum wage out of a misplaced belief that it will help poor people, and thus engage in Confirmation Bias.

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

    Quote Originally Posted by cpwill View Post
    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.
    It says always!

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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.
    that is simply mathematically incorrect. You cannot take profits, subject them to another round of taxation, and then use them to purchase goods, and end up with more profits than the amount with which you started.

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

    Quote Originally Posted by Wiseone View Post
    It says always!
    and relative to its' competition, I suppose it always will be (or it will die, which would be fine, as if it does so then obviously superior alternatives have been made available). That does not mean that the cost of a carton of eggs at Wal-Mart today must be the cost of a carton of eggs at Wal-Mart next week.


    OR, they will use other options to keep Low Prices, Always. For example, the last time we raised the minimum wage, Wal-Mart invested in those newfangled self-checkout machines which have since become increasingly ubiquitous.

    Gosh, I wonder what happened to all the minimum wage tellers and baggers whose services were no longer required, but whose cost had just been increased?

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

    Quote Originally Posted by HenryChinaski View Post
    More money in the working man's pocket means he'll spend more at Wal-Mart. More money going back into the economy means happier businesses.
    Well, as the recent CBO report on the ACA indicated, when one's income goes up a rational response in some cases is to work less so that you don't raise your income beyond the thresholds for government subsidies. Time is our most precious resource and people balance it with their leisure time. As income goes up, one may work less.

    Also, although true, spending at Walmart probably has limited impact as Walmart is a privately owned company so the buying there would tend to increase income inequality, wouldn't it?

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

    Quote Originally Posted by Born Free View Post
    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?
    "No results" is completely inaccurate. It eased the recession and we really needed three or four times more of it.

    http://www.cbo.gov/sites/default/fil...ct_of_ARRA.pdf

    Not sure what this silly rant about raising minimum wage to $100 an hour is about. Is this really the best straw man you can come up with?

    Raising the minimum wage to bring it up to similar historical levels is not some kind of radical action. The circumstances and economics of today suggest such a move would have moderately positive effects.

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

    Quote Originally Posted by buck View Post
    Can you post a link citing Walmart pushing for a minimum wage increase? I hadn't been aware of that.
    My mistake, I may have been thinking of Costco. I would have sworn Walmart was pushing hard for federal minimum wage increases because it would increase sales.

    Why Costco is Backing Obama's Minimum Wage Push - DailyFinance

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

    Quote Originally Posted by opendebate View Post
    i started my post my admitting I don't know alot about economics. If you have such a fragile little ego that you need to be an ass despite that, then **** off
    No what you wrote is the exact same mantra that every other left person that i know brings. Companies don't care about their employee's that is why they pay crap wages.
    that isn't how it works and calling you out on it isn't being an ass.

    Low wages exist due to low skill jobs. the lower the skill job the more people that are qualified to do it. which means there is a large supply of people that qualify for that job
    that suppresses wages.

    as your skill increases along with knowledge then you offer more you can produce more you become more efficient which means that your value goes up.
    it is like this across any company. the lower you are the less pay you get.

    what happens is when you increase the pay for a position the demand for skill and production go up. if you can't or don't have the skill then you are priced out of a job.

    places like target, walmart etc ... sell to specific markets on top of that. walmart targets lower/lower middle income people. target goes after higher income people.
    they still have to be competitive with other people.

    most companies have a flat line of profit that they make. in order for a company to stay in business it has to make a profit. most profits are put back into the company while some is paid out to investors and others are given out in raises.

    most profits are used to fund next years projects or they are used to pay for added expenses.

    by mandating pay for low skill jobs you price those people out of jobs and new people coming in. in order to justify a 10 dollar salary that person has to produce more than 10 dollars an hour. if they don't then they cost you money. the other issue is there is only so much 1 person can produce.

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

    Quote Originally Posted by Verax View Post
    My mistake, I may have been thinking of Costco. I would have sworn Walmart was pushing hard for federal minimum wage increases because it would increase sales.

    Why Costco is Backing Obama's Minimum Wage Push - DailyFinance
    there is no evidence of this. not that the price increase would wipe out any gains just like it did the last time they raised minimum wage.
    when they did that i got a pay cut due to price increases.

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

    Quote Originally Posted by cpwill View Post
    that is simply mathematically incorrect. You cannot take profits, subject them to another round of taxation, and then use them to purchase goods, and end up with more profits than the amount with which you started.
    How does raising wages "subject them to another round of taxation"?

    Low wage workers pay less net taxes on their income than would investors or executives would on what would have been more corporate profit. This would produce an end result in which the government collects less taxes, investors and executives take home slightly less pay, and the wage workers take home significantly more.

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