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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 Mycroft View Post
    The law of economics hasn't changed one bit since one semi-intelligent creature struck a bargain with another one. The rest of your post is nothing more than rationalized claptrap...with the exception of the part I highlighted in blue. That is simply wrong. The very worst thing a government can do is fix prices.
    You haven't the foggiest clue what you're talking about. The world has changed greatly since WWII and so with it the circumstances that govern economics. You don't think globalization has anything to do with it? Are you kidding me?

    Calling raising the minimum wage "price fixing" is pretty deceptive in this context and I would guess that you don't even know what it means.

    The "free market" is not going to raise wages for low skilled workers any time soon if in our lifetimes. If you would like to see 2/3rds of the country sit in poverty because of globalization and a desire by the policymakers to turn a blind eye then by all means support conservative economics.

    Without government action to shape the market to be more friendly to the majority of Americans, they have one thing in their future, poverty. The America they can look forward to will largely be a minority with good paying high skilled jobs and everyone else as the poverty class. Teachers, firefighters, police officers, construction workers, cashiers, (average people), will never be middle class again.

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

    Not that this makes it 100% infallible, but a friend of mine who is an econ major was explaining to me that increasing minimum wage essentially increases the velocity of money. Less money in bank accounts, more circulating.
    Men do what they have to when they want to, Great men do what they have to, even when they don't want to.

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

    Quote Originally Posted by Verax View Post
    The "free market" is not going to raise wages for low skilled workers any time soon if in our lifetimes.
    Can you explain why stores like Walmart and Target pay more than minimum wage, then?

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

    Quote Originally Posted by Verax View Post
    You haven't the foggiest clue what you're talking about. The world has changed greatly since WWII and so with it the circumstances that govern economics. You don't think globalization has anything to do with it? Are you kidding me?

    Calling raising the minimum wage "price fixing" is pretty deceptive in this context and I would guess that you don't even know what it means.

    The "free market" is not going to raise wages for low skilled workers any time soon if in our lifetimes. If you would like to see 2/3rds of the country sit in poverty because of globalization and a desire by the policymakers to turn a blind eye then by all means support conservative economics.

    Without government action to shape the market to be more friendly to the majority of Americans, they have one thing in their future, poverty. The America they can look forward to will largely be a minority with good paying high skilled jobs and everyone else as the poverty class. Teachers, firefighters, police officers, construction workers, cashiers, (average people), will never be middle class again.
    Globalization hasn't changed the law of economics one bit.

    price fix·ing also price-fix·ing (prīs′fĭk′sĭng)
    n.
    1. The setting of commodity prices artificially by a government.

    price-fixing - definition of price-fixing by the Free Online Dictionary, Thesaurus and Encyclopedia.
    Definition of 'Price Fixing'

    Establishing the price of a product or service, rather than allowing it to be determined naturally through free-market forces. Antitrust legislation makes it illegal for businesses to decide to fix their prices under specific circumstances. However, there is no legal protection against government price fixing. In an ill-fated attempt to end the Great Depression, for example, Franklin Roosevelt forced businesses to fix prices in the 1930s. However, this action may have actually prolonged the downturn.

    Price Fixing Definition | Investopedia
    (skipped the continued rationalized claptrap)
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    Re: CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs

    Quote Originally Posted by buck View Post
    Can you explain why stores like Walmart and Target pay more than minimum wage, then?
    Generally people get raises every year. Higher level positions pay slightly more, like from cart pusher to working the service desk. We're talking from 7.25 to 8, to 9, to 10 if you've been there for years and have moved up slightly two levels... These are not big numbers and can barely be called more.
    Last edited by Verax; 02-19-14 at 12:20 AM.

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

    Quote Originally Posted by Mycroft View Post
    Globalization hasn't changed the law of economics one bit.
    (skipped the continued rationalized claptrap)
    The "law of economics"? LoL... as though its some kind of force. Globalization hasn't changed economics one bit huh? You'd be laughed out of the room at any kind of business meeting.

    You think price fixing generally refers to labor as a commodity?

    You're just being silly, I'm not going to continue this absurdness with you.

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

    Quote Originally Posted by Verax View Post
    You haven't the foggiest clue what you're talking about. The world has changed greatly since WWII and so with it the circumstances that govern economics. You don't think globalization has anything to do with it? Are you kidding me?

    Calling raising the minimum wage "price fixing" is pretty deceptive in this context and I would guess that you don't even know what it means.

    The "free market" is not going to raise wages for low skilled workers any time soon if in our lifetimes. If you would like to see 2/3rds of the country sit in poverty because of globalization and a desire by the policymakers to turn a blind eye then by all means support conservative economics.

    Without government action to shape the market to be more friendly to the majority of Americans, they have one thing in their future, poverty. The America they can look forward to will largely be a minority with good paying high skilled jobs and everyone else as the poverty class. Teachers, firefighters, police officers, construction workers, cashiers, (average people), will never be middle class again.
    And where is your link(s) from unbiased source(s) that proves this statement?

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

    Quote Originally Posted by Verax View Post
    The "law of economics"? LoL... as though its some kind of force. Globalization hasn't changed economics one bit huh? You'd be laughed out of the room at any kind of business meeting.
    Yes, it is a force and that force applies to globalization just as much at it does to you selling an item to your neighbor.

    You think price fixing generally refers to labor as a commodity?
    Labor is an item that is bought and sold the same way you would buy a TV.

    You're just being silly, I'm not going to continue this absurdness with you.
    Very well...your choice. It's a shame you haven't been able to successfully dispute anything I've said and that you are reduced to just calling me silly.
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    Re: CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs

    Quote Originally Posted by Verax View Post
    Generally people get raises every year. Higher level positions pay slightly more, like from cart pusher to working the service desk. We're talking from 7.25 to 8, to 9, to 10 if you've been there for years and have moved up slightly two levels... These are not big numbers and can barely be called more.
    The CBO said that as many as a MILLION workers could lose their jobs if the minimum wage was raised to $10.10.

    That would raise the present 6.6% unemployment rate to 7.2%.

    That is a good thing to you...yes or no, please?



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

    Employment Situation Summary Table A. Household data, seasonally adjusted
    Last edited by DA60; 02-19-14 at 12:50 AM.

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

    Quote Originally Posted by DA60 View Post
    And where is your link(s) from unbiased source(s) that proves this statement?
    "Prove"? You can look at research that supports similar positions. I don't remember reading something that says exactly that with concrete evidence, that is kind of a bizarre request, it is my opinion from my summary of where the U.S. is heading.

    There is no reason I can think of where employers are going to start fighting over a glut of unskilled workers by increasing their pay. Do you disagree?

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