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

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

    Quote Originally Posted by Fearandloathing View Post
    You clearly did not read it.
    Read what? The op ed piece ABOUT the report, or the vapid, devoid of facts report itself?
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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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
    Someone else said it was to boost demand, someone else said it was to outprice the value of child labor, someone else said it was to incentivize capital investment.

    I wish you guys could make up your mind.
    I'm just telling you why we got one originally. The purpose of a MW now, as near as I can tell, is to give Democrats a wedge issue to use against Republicans. "incentivizing capital investment" is another way of saying "firing low wage workers and replacing them with machines", which I would agree is often a result, but I'm not sure it should be a goal...

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

    Quote Originally Posted by DA60 View Post
    But if the things they are buying cost as much or more then the added money in their pockets, they save nothing. I have explained this several times in other threads.

    If you are seriously going to argue that inefficiency is the way to economic prosperity, then, with respect, I strongly think you should rethink your position.

    Anyway, if you have a problem with what I am saying, I suggest you take it up with those that wrote the CBO report...they can probably explain it better (or at least, use much bigger words) then I can.
    And we have explained that an increase in minimum wage does not equal a direct amount increase in the cost of goods generated by that minimum wage.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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

    More detrimental leftist legislation that harm those it pretends to help. The laws of economics dont change, maybe one day the left will take an econ class instead of relying on emotion.

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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
    And we have explained that an increase in minimum wage does not equal a direct amount increase in the cost of goods generated by that minimum wage.
    It equals increased costs to the employer-which will be passed on to the consumer or come out of the pockets of the employee.

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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 that they don't have, as in, there is work that needs done that ISN'T currently being done due to a lack of help, then they are losing business, or soon to go OUT of business. What you are asking is, Do I think there are employers out there who would like to not have to work as hard, but aren't willing to part with the extra cash they make to make it happen?


    Imagep, you are an employer. Wouldn't you just love it if you could pay a guy to manage your store, so you could retire...right now? But you don't do so because, that would likely mean 40K a year or more LESS in your pocket. Yes?


    And the answer is yes, absolutely, but that answer remains yes even if the minimum wage were set much much lower.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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

    Quote Originally Posted by US Conservative View Post
    It equals increased costs to the employer-which will be passed on to the consumer or come out of the pockets of the employee.
    How will it come out of the pocket of the employee?


    And if all additional costs to operate are passed on to the consumer, than how on earth did anyone ever believe that competition in the market keeps prices at the lowest possible level?


    You guys need to keep your theories strait.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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

    Quote Originally Posted by US Conservative View Post
    More detrimental leftist legislation that harm those it pretends to help. The laws of economics dont change, maybe one day the left will take an econ class instead of relying on emotion.
    And econ class taught by who? Mises?


    The most celebrated economist of the 90's all but denounced that theory. Look it up.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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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
    And econ class taught by who? Mises?


    The most celebrated economist of the 90's all but denounced that theory. Look it up.
    The most celebrated economist of the 90's? Who was that?

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

    Quote Originally Posted by cpwill View Post
    I'm just telling you why we got one originally. The purpose of a MW now, as near as I can tell, is to give Democrats a wedge issue to use against Republicans. "incentivizing capital investment" is another way of saying "firing low wage workers and replacing them with machines", which I would agree is often a result, but I'm not sure it should be a goal...
    Firing people and replacing them with machines would be the result even if the MW were set at 2 bucks an hour, PERIOD. Even China is moving towards automation. Would you have us accept the living standards of the typical Chinese worker in order to laud your so celebrated economic beliefs? I volunteer YOU to go first.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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