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

  1. #181
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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
    Overtime, standards of living increases. The opposite is true for wages, as market forces will require wages to fall. We don't have inflation because the eggheads dictate that inflation is good, but inflation exist to accommodate market demands for more employment. If you didn't have inflation, people will become laid off and wages will fall regardless.

    The key is for wages to surpass inflation, not the minimum wage. That can lead to cost push inflation, which is self defeating with minimum wage increases.
    Not a bit of that makes any sense to me. Not one bit.
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    ...I'm not interested in debating someone who is trolling for an argument....
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    I see a big problem with the idea that whatever the majority wants is OK.

  2. #182
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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
    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)?
    Guess youve never run a business

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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
    Guess youve never run a business
    You are wrong about that. 25 years ago I left my last real job to start the business that I still own and operate today.

    Sure, I would like to employ more workers, if I could afford to, just so that I can work less myself, but I don't NEED to employ more workers, I have all that I need to meet demand.

    I would only consider employing more workers if demand for my products increased (an increase in sales). If my sales increased, then I would make more profit, and I could afford to hire more workers. It's that simple.

    If you need more workers, but can't afford to hire them, then you are failing to make the profit that you need to make to remain in business. You should really consider increasing your profitability.
    Last edited by imagep; 12-15-14 at 09:14 PM.
    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.

  4. #184
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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    In other words, 88,584 thousand people make more than $10 an hour.

    You all discuss the minimum wage issue as if everyone is supposed to be making $25 dollars an hour.

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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
    Not a bit of that makes any sense to me. Not one bit.
    What part didn't make sense?

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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
    Nope again. That's why a minimum wage has to be mandated in some way or another (it could be a social mandate, doesn't have to be governmental).



    Because pickles don't create demand (they don't buy stuff).
    Pickles create demand for dill, mustard seeds, and vinegar.

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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
    What part didn't make sense?
    Everything between the first word and the last word of that post.

    Can you explain it in a way that an idiot can understand?
    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.

  8. #188
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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
    Pickles create demand for dill, mustard seeds, and vinegar.
    No, consumers desire, along with a few bucks in their pocket, create the demand for that stuff. Pickles just sit there in a jar, until someone eats them. Maybe they create demand for toilet paper.
    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 imagep View Post
    There you go again, you are starting out with the assumption that McDonalds would raise the price of it's food. What I'm trying to explain is that they wouldn't have a need to increase the price of food. The increase in sales that they would get would result in enough increase in profit to cover the higher cost of labor.

    When you start out with an assumption, then you can't logically think about an issue.

    Maybe you don't understand that companies can't just randomly increase prices. Companies price their goods at the profit maximizing price. If they increase their prices, then their profit actually declines (because they loose sales). Competition is the biggest factor that restrains prices in the competitive free market.
    https://www.cbo.gov/publication/44995

  10. #190
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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by Deuce View Post
    Tons of large corporate chains have an automatic pay raise after six months of 25 to 50 cents an hour. These people technically don't make minimum wage, but should still be counted when you throw around numbers like this.
    I don't oppose a MW increase if, and only if, it is not coupled with an immediate raise of the federal poverty level and we actually see a corresponding drop in "safety net" spending. If the MW is increased 50% then we should see a drop of at least 25% in "safety net" spending. Somehow I doubt that will happen.
    “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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