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Thread: Walmart Gives 500,000 Workers A Raise

  1. #151
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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by HenryChinaski View Post
    It seems simple in my view, if the employer is paying a bare minimum that has been deemed necessary in order to survive wherever that employee is working, City, region, whatever, then the worker who is collecting those wages doesn't need My money to cover the rest of the rent and/or weekly food bill. They can cover the bare bones needs and We taxpayers save dough.
    It seems simple but it isn't. The current MW worker working full time brings home enough money to put them almost at the poverty level for a family of two and if they had a family of two then the EITC would push them well above that but they would still likely be elgible for some form of public assistance, especially if that other person in their household is a child.

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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by Declan View Post
    ...

    Is there a better way to lift boats than through wage floors because it sounds good? Isn't this really macro blurring of systemic and growing micro problems? Isn't what we need some kind of localized solution instead of some kind of one-sized fit all national solution.? I think so, I am just not sure the best way to go about doing it.
    Is there any evidence that a higher minimum wage would suck money out of a particular local area?

    So let's say that I am a low wage worker working at McDonalds and I get a wage increase. I spend that money mostly within my community, and businesses in my community then have a need to expand, and create more jobs, and hire more people who in turn have more money to spend locally. Other businesses recognize that the existing ones in my community are doing better, so they invest in my community, creating more jobs, and bringing even more money into my community.

    I understand what you are saying about some of the money migrating out of the local economy due to the fact that most of the goods we purchase aren't locally made, but there are other factors that tend to balance that.

    I also think that there is a moral hazard in having a minimum wage based upon local living costs. Maybe poor people shouldn't live in high cost of living areas. If I was a minimum wage worker, I certainly wouldn't chose to live in Manhattan or Beverly Hills. That doesn't mean that I can't work there though, I can commute.
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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.

  3. #153
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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by imagep View Post
    Is there any evidence that a higher minimum wage would suck money out of a particular local area?

    So let's say that I am a low wage worker working at McDonalds and I get a wage increase. I spend that money mostly within my community, and businesses in my community then have a need to expand, and create more jobs, and hire more people who in turn have more money to spend locally. Other businesses recognize that the existing ones in my community are doing better, so they invest in my community, creating more jobs, and bringing even more money into my community.

    I understand what you are saying about some of the money migrating out of the local economy due to the fact that most of the goods we purchase aren't locally made, but there are other factors that tend to balance that.

    I also think that there is a moral hazard in having a minimum wage based upon local living costs. Maybe poor people shouldn't live in high cost of living areas. If I was a minimum wage worker, I certainly wouldn't chose to live in Manhattan or Beverly Hills. That doesn't mean that I can't work there though, I can commute.
    Dead zones lose money regardless of how much the worker is making, but I am unaware of a study linking it to just MW effects. One of the reasons "local currencies" are usually successful (though not always) is because that money stays in the local economy because Amazon doesn't take Declanville Dollars. These types of alt currencies add economic velocity without being able to be exported to other communities which helps local businesses that participate, especially when the community does their own version of Briton woods and peg the value to a large deposit of cash they hold in reserve.

  4. #154
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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by Declan View Post
    Dead zones lose money regardless of how much the worker is making, but I am unaware of a study linking it to just MW effects. One of the reasons "local currencies" are usually successful (though not always) is because that money stays in the local economy because Amazon doesn't take Declanville Dollars. These types of alt currencies add economic velocity without being able to be exported to other communities which helps local businesses that participate, especially when the community does their own version of Briton woods and peg the value to a large deposit of cash they hold in reserve.
    So basically you are just reducing the opportunity to trade with national level firms. Wouldn't that permanently eliminate the possibility of any new investment into the area, esentially making the dead zone even deader? And if someone was going to pay me with Declanville Dollars, but I needed US dollars to spend on Amazon, then regardless of any pegging, I still wouldn't value those Declanville Dollars as much as federal reserve dollars.
    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: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by Thrilla View Post
    what?

    business are free to raise prices because of cost increases...where did you get the idea they are not?
    You're right. Businesses are free to price their goods and services at a point that produces less profits.

    costs is a primary determining factor in pricing, but it's not the only factor... so I think I kinda agree with you on that point.
    Cost is an important factor but not a determinative one so we're close to each other on this one. While price has to be high enough to produce sufficient profit and cash flow, after that the market determines the optimal price.
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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by jet57 View Post
    Unions are working very hard to get people off of public assistance. I guess you want people earning peanuts, if anything and on the dole so you can gripe about how lazy they are.
    How much more would an employee take home if they were unionized and had to pay union dues?

    The unions are concerned about the unions, not the employees.

  7. #157
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    Re: Walmart Gives 500,000 Workers A Raise

    Well this is nice. Regardless of your political affiliation it should make everyone glad to see so many Americans getting a raise and a likely better quality of life. I'm sure Walmart wouldn't have done this if they thought it would have severe consequences for them. I'm pleased =).

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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by Mason66 View Post
    How much more would an employee take home if they were unionized and had to pay union dues?

    The unions are concerned about the unions, not the employees.
    A lot. Dues are usually twice the hourly wage a month. So for $10 an hour it would be $20 a month so that would leave a person $1713. a month.

    And unions are employees, that's how they work.
    “The people do no want virtue; but they are the dupes of pretended patriots” : Elbridge Gerry of Mass; Constitutional Convention 1787

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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by jet57 View Post
    A lot. Dues are usually twice the hourly wage a month. So for $10 an hour it would be $20 a month so that would leave a person $1713. a month.

    And unions are employees, that's how they work.
    Where are you getting your numbers that a small raise would give the employee an extra $1713.00 per month?

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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by Mason66 View Post
    Where are you getting your numbers that a small raise would give the employee an extra $1713.00 per month?
    10.00 x 2080 hours a year (full time) / by 12 months.
    “The people do no want virtue; but they are the dupes of pretended patriots” : Elbridge Gerry of Mass; Constitutional Convention 1787

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