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Thread: How a powerful rightwing lobby is plotting to stop minimum wage hikes [W:33]

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    Re: How a powerful rightwing lobby is plotting to stop minimum wage hikes

    Quote Originally Posted by Mason66 View Post
    Private citizens can do whatever they wish in this country.
    Nope.
    Give a man a fish and he can eat for a day. Teach a man to fish and he can sit in a boat, drinking beer all day while you fool around with his Woman.

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    Re: How a powerful rightwing lobby is plotting to stop minimum wage hikes

    Quote Originally Posted by ARealConservative View Post
    arguing with the ignorant -they drag you down to their level and beat you with experience.
    Am I actually arguing with the ignorant or using their argument as a basis to inform and educate? Ignorance can be cured, stupidity cannot.

    Hell. We haven't even gotten to what their attempts to hurt the 1% do to the millions of retirement accounts if the "owners" just suck it up. Yes, there are large share holders in companies, but where do these people think all the money in retirement accounts/funds come from?
    Only a fool measures equality by results and not opportunities.

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    Re: How a powerful rightwing lobby is plotting to stop minimum wage hikes

    Moderator's Warning:
    How a powerful rightwing lobby is plotting to stop minimum wage hikes [W:33]The sly attempts to call posters "ignorant" or accuse them of breaking rules like "trolling" need to stop. Stick to the topic folks

  4. #34
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    Re: How a powerful rightwing lobby is plotting to stop minimum wage hikes

    Quote Originally Posted by DVSentinel View Post
    Am I actually arguing with the ignorant or using their argument as a basis to inform and educate? Ignorance can be cured, stupidity cannot.

    Hell. We haven't even gotten to what their attempts to hurt the 1% do to the millions of retirement accounts if the "owners" just suck it up. Yes, there are large share holders in companies, but where do these people think all the money in retirement accounts/funds come from?
    sure looks like it to me

    minimum wage debates have existed for decades, so when you laid out the typical position, you were met with "circular logic".

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    Re: How a powerful rightwing lobby is plotting to stop minimum wage hikes

    Quote Originally Posted by Blue_State View Post
    Why not?
    Quote Originally Posted by stonewall50 View Post
    Actually...they can and DO raise their prices if they want too. And exactly 0% of the money is borne by the employer. It is all market. A company doesn't make money out of the air. Do you expect a company to take a hit when they can raise prices? Why do you think things don't cost a nickel anymore? It isn't just inflation.

    And you don't just put more money in the economy. You put more people on minimum wage. Pure and simple. You aren't raising my pay from $11 per hour. Leave minimum pegged to inflation. As another poster said...why not just raise it to $1000? Then nobody will be poor.


    You each could use a course in economics. Prices are set by the market; not by the supplier of the product. The ability of a player in the market to change prices is governed by a concept known as price elasticity. To the degree the commodity / product is high inelastic, such as oil, the companies can pass costs along and not bear as much of the cost themselves. To the extent the commodity / product is highly elastic, then they have little latitude to off-load costs in the form of price increases and eat more of the cost themselves. Much of the travel industry, particularly airlines, have a high degree of price elasticity.

    http://en.wikipedia.org/wiki/Price_elasticity_of_demand
    http://economics.about.com/cs/micfro...elasticity.htm

    Now granted, in inefficient markets with oligopolistic participants, there is generally less price elasticity than in a free market.... but, generally less does not mean that companies can dictate prices.

    Companies already set prices to maximize revenue based upon what the market will bear. If companies could simply dictate the price, they would naturally just charge more. But, they can't, so they don't.
    Last edited by upsideguy; 02-23-15 at 03:43 PM.

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    Re: How a powerful rightwing lobby is plotting to stop minimum wage hikes

    Quote Originally Posted by upsideguy View Post
    You each could use a course in economics. Prices are set by the market; not by the supplier of the product.
    when the government intervenes, you can't continue to say the market sets the prices. government is not the market.

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    Re: How a powerful rightwing lobby is plotting to stop minimum wage hikes

    Quote Originally Posted by upsideguy View Post
    You each could use a course in economics. Prices are set by the market; not by the supplier of the product. The ability of a player in the market to change prices is governed by a concept known as price elasticity. To the degree the commodity / product is high inelastic, such as oil, the companies can pass costs along and not bear as much of the cost themselves. To the extent the commodity / product is highly elastic, then they have little latitude to off-load costs in the form of price increases and eat more of the cost themselves. Much of the travel industry, particularly airlines, have a high degree of price elasticity.

    http://en.wikipedia.org/wiki/Price_elasticity_of_demand
    http://economics.about.com/cs/micfro...elasticity.htm

    Now granted, in inefficient markets with oligopolistic participants, there is generally less price elasticity than in a free market.... but, generally less does not mean that companies can dictate prices.

    Companies already set prices to maximize revenue based upon what the market will bear. If companies could simply dictate the price, they would naturally just charge more. But, they can't, so they don't.
    You could talk to a business owner. Ask them what they do when minimum wages are hiked. I know what good businessmen do.

    Btw the "market" is a non existent thing. It doesn't actually set a price. It simply decides what a good price should be in a theoretical sense.

    As far as companies go: your argument defeats itself. Your argument is that a company can't raise costs because the consumer doesn't have the money to pay. You increase the pay of all consumers then a company CAN raise prices.
    The Crowd is not the sum of its parts.

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    Re: How a powerful rightwing lobby is plotting to stop minimum wage hikes

    Quote Originally Posted by DVSentinel View Post
    They can?
    Yes they can. If they want to ask law makers to not raise the minimum wage, tey can.

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    Re: How a powerful rightwing lobby is plotting to stop minimum wage hikes

    Quote Originally Posted by HenryChinaski View Post
    Nope.
    Don't purposely misunderstand what I was trying to say.

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    Re: How a powerful rightwing lobby is plotting to stop minimum wage hikes

    Quote Originally Posted by stonewall50 View Post
    You could talk to a business owner. Ask them what they do when minimum wages are hiked. I know what good businessmen do.

    Btw the "market" is a non existent thing. It doesn't actually set a price. It simply decides what a good price should be in a theoretical sense.

    As far as companies go: your argument defeats itself. Your argument is that a company can't raise costs because the consumer doesn't have the money to pay. You increase the pay of all consumers then a company CAN raise prices.

    business owners absolutely set the price.

    If they set the price higher then the market will bear, they go out of business.

    This guy needs to get out and see how the actual world works. Too many people understand economics based on a college text book

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