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Thread: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recession

  1. #151
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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by ttwtt78640 View Post
    How do you explain that while while less than 3% of the US workforce makes the MW that 15% (or more) rely on the "safety net"?
    Because the minimum wage is too low, thus even people who make a little more than minimum wage qualify for some sort of means tested welfare.

    Also because it's probably too easy to qualify for welfare.
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    I see a big problem with the idea that whatever the majority wants is OK.

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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by Henrin View Post
    It pretty much does work that way. Higher wages increases demand and market activity which in turn increases profits.
    The Top 1% appreciates those profits. The question is how many new jobs will they create.

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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by imagep View Post
    Why do you say that? Do we tax welfare?
    No, you simply tax welfare recipients' increased income from their employment, which is offset by thousands of dollars in lost income due to extra taxes and lost transfer payments (more than $15,000, depending on what study you look at).

    This is why there is a general disincentive for people who receive such subsidies to increase their income, and why government transfer payments will never decline, no matter what minimum you set wages at.

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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by WallStreetVixen View Post
    No, you simply tax welfare recipients' increased income from their employment, which is offset by thousands of dollars in lost income due to extra taxes and lost transfer payments (more than $15,000, depending on what study you look at).

    This is why there is a general disincentive for people who receive such subsidies to increase their income, and why government transfer payments will never decline, no matter what minimum you set wages at.
    Which would make for a good reason that any increase in min wage should be tied to a decrease in welfare by law.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by KevinKohler View Post
    No it wouldn't. How would it create jobs? Do employers hire employees because it's cheap, or cheaper, to do so, or do they hire employees because they have **** for those employees to do? Think this through.
    You dont think there are employers out there that need help but cannot afford it?

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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by Sabanist View Post
    You dont think there are employers out there that need help but cannot afford it?
    If they need help, then they can afford more help.

    The only reason that a company would need more help is because it's sales are increasing. When it's sales are increasing, so is it's profitability. When a companies profitability is increasing, it can afford to pay for more help.

    Typically, companies only have just enough employees to handle demand. I mean why would any company hire more people than they need (regardless of how cheaply they can hire them)?
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  7. #157
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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by imagep View Post
    Because the minimum wage is too low, thus even people who make a little more than minimum wage qualify for some sort of means tested welfare.

    Also because it's probably too easy to qualify for welfare.
    One must remember that for every $1 of wage increase that at least $0.153 of it goes directly to the federal government via payroll taxes. Each $6.50 in wages generates at least $1 more for the federal government to waste. The benefit of means tested "welfare" is that it goes only to those with dependents and does not increase the cost of living nearly as much as an across the board pay raise for all workers will. As long as the nation is willing to give the required COLA bump to those living of fixed incomes it may be worth a try to raise the MW to the inflation adjusted equivalent of the 1968 MW - or to about $10.60/hour.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by whysoserious View Post
    Is it? There is no shortage of these jobs. Has anyone, ever in the history, not been able to find a minimum wage job for an extended period of time? I don't think it's a big concern. No one is out there going, "God dammit, I can't get a job paying minimum wage at McDonalds or Walmart anymore!".

    But hey, it's their bed so they should lay in it right? If they just worked harder they could have a better job anyway.


    at the height of the recession there were about 4 unemployed for every job opening total, right?

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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by ttwtt78640 View Post
    One must remember that for every $1 of wage increase that at least $0.153 of it goes directly to the federal government via payroll taxes. Each $6.50 in wages generates at least $1 more for the federal government to waste.
    You are making the assumption that there is a connection between payroll taxes ( or taxes in general). But that is obviously not true, because if government spending was restricted to tax revenue, then we would never have a budget deficit.

    The benefit of means tested "welfare" is that it goes only to those with dependents and does not increase the cost of living nearly as much as an across the board pay raise for all workers will. As long as the nation is willing to give the required COLA bump to those living of fixed incomes it may be worth a try to raise the MW to the inflation adjusted equivalent of the 1968 MW - or to about $10.60/hour.
    I agree.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by Declan View Post
    The Top 1% appreciates those profits. The question is how many new jobs will they create.

    didn't you hear, next year trickle down will finally kick in. just had to build up for 35 years first.

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