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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 WallStreetVixen View Post
    When was that? You've had 7 increases since the original FLSA and states have implemented their own minimum wage on top of that. Theres no indication that the minimum wage has keep up with inflation here, or anywhere else it has tried.

    This is because the minimum wage isn't intended to do that
    I think this will answer your question:

    The Real Minimum Wage Falls Every Year — Here's How To Fix That

    Read more: The Real Minimum Wage Falls Every Year


    The Real Minimum Wage Falls Every Year

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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

    Quote Originally Posted by ocean515 View Post


    Hence, the moronic loaded question you asked. Gee, I didn't see your answer coming from 1,000 miles away. You probably need to consider the playground over by the kindergarten classes if this is how you roll.

    Obviously, you lack any real economic experience given the tiny nature of your business experience. As a result of this lack of experience, it's rather laughable that you would think you're a judge of what it takes to do anything nationally. Consider this, you run a small company, so the owner of a tacoria has something in common with you. I'll keep that in mind when viewing your opinion and your self important demands.

    I've owned a company operating in multiple states with over 400 employees. I've imported and exported $100's of millions in product over decades of time. I've done millions of dollars of business with government agencies, and billions with large multi-national corporations. I think my experience speaks for itself, and that experience extends far beyond the sliver of experience you're banking your ego on.

    Pick your debates a little better Boo. Everyone makes mistakes, and you certainly made one here.

    Have a good day.
    If you did, you could have said, "None." That would have been the honest answer.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  3. #533
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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by Boo Radley View Post
    I think this will answer your question:

    The Real Minimum Wage Falls Every Year Here's How To Fix That

    Read more: The Real Minimum Wage Falls Every Year


    The Real Minimum Wage Falls Every Year
    No, it doesn't answer my question. Not even in the slightest. All the author manages to do is complain how minimum wage increases hasn't been adjusted for inflation, but doesn't explain HOW this can be accomplished effectively and How would that improve things.

    For the most part, states with indexed minimum wages as far as I can see haven't experienced much higher average hourly wage growth at an annualised rate. The highest growth is North Dakota, which is still at the Federal level. The lowest among the indexed states, if you don't count the Virgin Islands and Puerto Rico, is Alaska, is New Jersey. I'm not seeing much to suggest that you need your wages to index inflation for everyone's sake.

    QCEW State and County Map Application: US: 12 month percent change in average weekly wage, Total, all industries Total Covered Jun 2013-Jun 2014 (p) : U.S. Bureau of Labor Statistics

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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, it doesn't answer my question. Not even in the slightest. All the author manages to do is complain how minimum wage increases hasn't been adjusted for inflation, but doesn't explain HOW this can be accomplished effectively and How would that improve things.

    For the most part, states with indexed minimum wages as far as I can see haven't experienced much higher average hourly wage growth at an annualised rate. The highest growth is North Dakota, which is still at the Federal level. The lowest among the indexed states, if you don't count the Virgin Islands and Puerto Rico, is Alaska, is New Jersey. I'm not seeing much to suggest that you need your wages to index inflation for everyone's sake.

    QCEW State and County Map Application: US: 12 month percent change in average weekly wage, Total, all industries Total Covered Jun 2013-Jun 2014 (p) : U.S. Bureau of Labor Statistics
    So how did we manage then to pay more?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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

    Quote Originally Posted by Boo Radley View Post
    No, that doesn't do it. You are not doing what you said you do, and don't have experience running a national economy. Nor do I. Sure, I have a small company. Sell nationally. But that doesn't mean I run a national economy. So, you failed.
    LOL. Silly answer. You're now compounding you own failure. You asked if I had experience with a National Economy.

    "No, you did not. Do you have experience with a national economy? Explain." Post #466

    As I explained, I do have experience with a national economy, and not just in sales, but in operating facilities in multiple states. Taken further, I have experience in import and export to companies around the globe. It would appear, you're experience is limited perhaps to typing in an address in another state. So let's call that National Experience little to none.

    Of course, having been put back in your place, in the post here, you change the question to "running" a National Economy. You know the answer to that, which makes it a really juvenile question to ask.

    Do you think that experience has any relevance? Did the President have any experience running a national economy? How about any number of people when they first arrived in D.C.?

    Your question was really rather lame, as I have already mentioned, since it was like that of a child squirming for relevance when caught doing something wrong.

    You're rather predictable. I'd suggest you move on, as you've fully disqualified yourself for any further discussion on this line of debate.

    Merry Christmas!

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

    Quote Originally Posted by ocean515 View Post
    LOL. Silly answer. You're now compounding you own failure. You asked if I had experience with a National Economy.

    "No, you did not. Do you have experience with a national economy? Explain." Post #466

    As I explained, I do have experience with a national economy, and not just in sales, but in operating facilities in multiple states. Taken further, I have experience in import and export to companies around the globe. It would appear, you're experience is limited perhaps to typing in an address in another state. So let's call that National Experience little to none.

    Of course, having been put back in your place, in the post here, you change the question to "running" a National Economy. You know the answer to that, which makes it a really juvenile question to ask.

    Do you think that experience has any relevance?
    Not much, your experience is with microeconomics, not macroeconomics.

    Did the President have any experience running a national economy? How about any number of people when they first arrived in D.C.?...
    That's a valid point, I'll give you that. Unfortunately, the people we elect, tend to not have a solid understanding of macroeconomics. It would be refreshing to see a former fed chief or other professional economist run for a top federal office. I suspect they would run our fiscal policy very differently than they ran our monetary policy as monetary policy isn't very effective.

    Someone told me that Nixon was the last president who had a degree in economics, but I can't seem to find any verification of that. Best I can tell is he had a generic BA plus a law degree.
    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 ocean515 View Post
    LOL. Silly answer. You're now compounding you own failure. You asked if I had experience with a National Economy.

    "No, you did not. Do you have experience with a national economy? Explain." Post #466

    As I explained, I do have experience with a national economy, and not just in sales, but in operating facilities in multiple states. Taken further, I have experience in import and export to companies around the globe. It would appear, you're experience is limited perhaps to typing in an address in another state. So let's call that National Experience little to none.

    Of course, having been put back in your place, in the post here, you change the question to "running" a National Economy. You know the answer to that, which makes it a really juvenile question to ask.

    Do you think that experience has any relevance? Did the President have any experience running a national economy? How about any number of people when they first arrived in D.C.?

    Your question was really rather lame, as I have already mentioned, since it was like that of a child squirming for relevance when caught doing something wrong.

    You're rather predictable. I'd suggest you move on, as you've fully disqualified yourself for any further discussion on this line of debate.

    Merry Christmas!
    As point out above no, you don't. Your experience is limited.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  8. #538
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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by Boo Radley View Post
    As point out above no, you don't. Your experience is limited.
    What's your experience Joe?
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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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 much, your experience is with microeconomics, not macroeconomics.



    That's a valid point, I'll give you that. Unfortunately, the people we elect, tend to not have a solid understanding of macroeconomics. It would be refreshing to see a former fed chief or other professional economist run for a top federal office. I suspect they would run our fiscal policy very differently than they ran our monetary policy as monetary policy isn't very effective.

    Someone told me that Nixon was the last president who had a degree in economics, but I can't seem to find any verification of that. Best I can tell is he had a generic BA plus a law degree.
    Yes, we've already established your tunnel vision and book learning. Someday, you'll branch out.

    As I have written before, there are those who can do, and then there are those teach. Economists and those who teach it are proof of this.

    By all means, cling to your micro/macro obsession.

    Merry Christmas!

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

    Quote Originally Posted by Boo Radley View Post
    As point out above no, you don't. Your experience is limited.
    Keep swimming in the:



    Perhaps you can find a way out.


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