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Thread: Los Angeles Raises Minimum Wage to $15 an Hour

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by ARTHUR 1976 View Post
    Then why is Unemployment in Seattle only 4% home of the highest minimum wage in the USA???

    Boeing, Microsoft, Alaska Airlines, Costco, Amazon, Starbucks, Tmobile, Seattle Seahawks, all economic powerhouses, I don't see them packing up and leaving...
    Several points:

    1. Seattle's $15 per hour minimum wage isn't the reason the Seattle area has such a strong economy; its strong economy leverages such factors as a highly-educated populace (57% of Seattle residents have Bachelor's Degrees or higher while fewer than 7% lacked high school diplomas), and is a reason the minimum wage increase (just now being phased in) will very likely have a much smaller adverse impact than that in Los Angeles.

    2. The law will impact approximately 102,000 workers having wages between $9.32 per hour (Washington's minimum wage) and $15 per hour, or about a quarter of Seattle's workforce: Study: $15 wage floor would lift pay for 24% of Seattle workers | The Seattle Times

    3. A study is being conducted by the University of Washington on the effects of Seattle's minimum wage law (Seattle Minimum Wage Study | Evans School of Public Affairs). As the law is just being phased in, data is not available. Some media outlets have been using "concerns" as proxies for data, but the actual data will be essential to measuring the impact in Seattle. Right now, there's no conclusive evidence of a major impact (which may lend support to the modest impact scenario), but it's premature to reach firm conclusions right now.

    IMO, Seattle is well-positioned to handle its $15 per hour minimum wage with only modest adverse labor market and broader industry structure and economic effects. Los Angeles, with more than a quarter of its population lacking a high school diploma and fewer than a third possessing college degrees, is in a notably weaker position than Seattle.

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by donsutherland1 View Post
    Several points:

    1. Seattle's $15 per hour minimum wage isn't the reason the Seattle area has such a strong economy; its strong economy leverages such factors as a highly-educated populace (57% of Seattle residents have Bachelor's Degrees or higher while fewer than 7% lacked high school diplomas), and is a reason the minimum wage increase (just now being phased in) will very likely have a much smaller adverse impact than that in Los Angeles.

    2. The law will impact approximately 102,000 workers having wages between $9.32 per hour (Washington's minimum wage) and $15 per hour, or about a quarter of Seattle's workforce: Study: $15 wage floor would lift pay for 24% of Seattle workers | The Seattle Times

    3. A study is being conducted by the University of Washington on the effects of Seattle's minimum wage law (Seattle Minimum Wage Study | Evans School of Public Affairs). As the law is just being phased in, data is not available. Some media outlets have been using "concerns" as proxies for data, but the actual data will be essential to measuring the impact in Seattle. Right now, there's no conclusive evidence of a major impact (which may lend support to the modest impact scenario), but it's premature to reach firm conclusions right now.

    IMO, Seattle is well-positioned to handle its $15 per hour minimum wage with only modest adverse labor market and broader industry structure and economic effects. Los Angeles, with more than a quarter of its population lacking a high school diploma and fewer than a third possessing college degrees, is in a notably weaker position than Seattle.
    Everybody discusses the $15 minimum wage and nobody discusses the 25% rise in the USDollar's relative value that kills export markets as surely as a $15 minimum wage. The pundits try to assess blame for the minimum wage, but fail to address our banking shortcoming as regards the currency value. Since economic fundamentals allegedly drive the value of currencies, then I have been unable to locate the invisible market moving fundamentals. The point being that all the "cause and effect" scenarios seem to go out the windows in "fiat" money economies structured on debt.

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by DaveFagan View Post
    Everybody discusses the $15 minimum wage and nobody discusses the 25% rise in the USDollar's relative value that kills export markets as surely as a $15 minimum wage. The pundits try to assess blame for the minimum wage, but fail to address our banking shortcoming as regards the currency value. Since economic fundamentals allegedly drive the value of currencies, then I have been unable to locate the invisible market moving fundamentals. The point being that all the "cause and effect" scenarios seem to go out the windows in "fiat" money economies structured on debt.
    In general, foreign exchange rates are driven by the combination of fundamentals and expectations. The latter can be highly subjective and can even outweigh the impact of fundamentals at times. Moreover, uncertainty, information asymmetry, etc., can further complicate the picture i.e., making it difficult to accurately measure the fundamentals and skew expectations. Having said that, your point about foreign exchange rate movements impacting trade is a good one.

    In terms of the minimum wage's impact on exports, it's very small. Wages only comprise a part of a product's cost and that share varies from company to company and industry to industry. Moreover, only a fraction of employ compensation is attributed to minimum wage employees or near-minimum wage employees whose wages would be impacted from a hike in the minimum wage. Most of the impact would fall on companies that are only marginally competitive globally (where only a tiny change in costs would render them unable to compete). Broader wage pressures would have a larger impact, but currently such pressures restrained and far from nationwide.

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by Anomalism View Post
    Good news for the fight against income inequality.

    http://www.nytimes.com/2015/05/20/us...hour.html?_r=0

    The nation’s second-largest city voted on Tuesday to increase its minimum wage to $15 an hour by 2020 from the current $9 an hour, in what is perhaps the most significant victory so far in the national push to raise the minimum wage. The increase — which the Los Angeles City Council passed in a 14-1 vote — comes as workers across the country are rallying for higher wages, and several large companies, including Facebook and Walmart, have moved to raise their lowest wages. Several other cities, including San Francisco, Seattle and Oakland, Calif., have already approved increases, and dozens more are considering doing the same. In 2014, a number of Republican-leaning states like Alaska and South Dakota also raised their state-level minimum wage by referendum. The impact is likely to be particularly strong in Los Angeles, where, according to some estimates, more than 40 percent of the city’s work force earns less than $15 an hour.
    Excellent. We can study what happens.
    I was discussing the effect on minimum wage and other labor regulations here in germany. What became clear was that we have lost jobs in trucking and businesses that have migrated to Poland, Romania and Bulgaria, while taxis are getting their drivers to work unpaid overtime and have practically stopped buying new vehicles.

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by KevinKohler View Post
    I like that you use food as an example.


    Question. Is ALMOST enough food to survive as good as no where near enough food to survive?
    Half a loaf is indeed better than no loaf at all.

    As with almost all Americans, I've never felt true hunger...but almost everyone in my wife's family has. She remembers many nights where all they had to eat was a few bites of rice with a sprinkle of salt on it. For years she had two panties - every day she'd wear one and wash the other by hand...but the biggest thing is that she never felt sorry for herself because she knew many families who had much less than her. Now she drives a 2014 Mercedes, owns two small businesses (along with me), provides jobs for several other people...and the two of us pay it forward, helping other family members to have even more opportunities than she had growing up.

    As you can tell, I'm very, very proud of my Darling. But if you asked her, she would tell you that a little bit of real hunger is a heck of a lot better than a lot of real hunger.
    “To do evil, a human being must first of all believe that what he’s doing is good" - Solzhenitsyn

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by jmotivator View Post
    How about you ask Canada, Australia and New Zealand if they would like the US economy and the stability necessary to make their currency the fiat currency around the world?
    Do you beat up strawmen that much?

    Have you anything showing that the fact that a nation has a significant minimum wage is affected at all by that nation's currency not being the fiat currency around the world?

    Didn't think so.
    “To do evil, a human being must first of all believe that what he’s doing is good" - Solzhenitsyn

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by ludin View Post
    umm yea about that. we can't justify paying that person 15 dollars an hour so we are going to automate their position and now they don't have a job.
    of course they can try and find another but then again they don't have the skills to earn 15 dollars an hour so no one will hire them.

    good idea. other cities in CA that have implemented this including seattle are seeing business close down and owners drop because
    they can't afford the wage hikes.

    the cost to their businesses are just to much.
    Try backing up what you said with references. And I do so encourage you to try to use Seattle as an example...because I'll slap that one down very easily.
    “To do evil, a human being must first of all believe that what he’s doing is good" - Solzhenitsyn

    "...with the terrorists, you have to take out their families." - Donald Trump

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by donsutherland1 View Post
    Several points:

    1. Seattle's $15 per hour minimum wage isn't the reason the Seattle area has such a strong economy; its strong economy leverages such factors as a highly-educated populace (57% of Seattle residents have Bachelor's Degrees or higher while fewer than 7% lacked high school diplomas), and is a reason the minimum wage increase (just now being phased in) will very likely have a much smaller adverse impact than that in Los Angeles.

    2. The law will impact approximately 102,000 workers having wages between $9.32 per hour (Washington's minimum wage) and $15 per hour, or about a quarter of Seattle's workforce: Study: $15 wage floor would lift pay for 24% of Seattle workers | The Seattle Times

    3. A study is being conducted by the University of Washington on the effects of Seattle's minimum wage law (Seattle Minimum Wage Study | Evans School of Public Affairs). As the law is just being phased in, data is not available. Some media outlets have been using "concerns" as proxies for data, but the actual data will be essential to measuring the impact in Seattle. Right now, there's no conclusive evidence of a major impact (which may lend support to the modest impact scenario), but it's premature to reach firm conclusions right now.

    IMO, Seattle is well-positioned to handle its $15 per hour minimum wage with only modest adverse labor market and broader industry structure and economic effects. Los Angeles, with more than a quarter of its population lacking a high school diploma and fewer than a third possessing college degrees, is in a notably weaker position than Seattle.
    You have made some solid points! And I agree with most of it,, Seattle , Frisco, New York, all Liberal utopias shooting for the 15 movement, are all very well educated cities, with strong economies, moral of the story live in a Blue city and you will find yourself in a much more educated productive environment..

    Repugs, and Cons, refuse to acknowledge for whatever reason known only to themselves, is that the 15:hour gig, will result in less turnover, a higher morale which leads to more productivity, and the more folks make the more they will pump into the local economy, and workers won't need welfare to subsidize their poor **** wages, which cost taxpayers more, and a happy employee is more motivated and everybody wins..

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by Glen Contrarian View Post
    Half a loaf is indeed better than no loaf at all.

    As with almost all Americans, I've never felt true hunger...but almost everyone in my wife's family has. She remembers many nights where all they had to eat was a few bites of rice with a sprinkle of salt on it. For years she had two panties - every day she'd wear one and wash the other by hand...but the biggest thing is that she never felt sorry for herself because she knew many families who had much less than her. Now she drives a 2014 Mercedes, owns two small businesses (along with me), provides jobs for several other people...and the two of us pay it forward, helping other family members to have even more opportunities than she had growing up.

    As you can tell, I'm very, very proud of my Darling. But if you asked her, she would tell you that a little bit of real hunger is a heck of a lot better than a lot of real hunger.
    This is a great example. Very few people have any idea what it is like to be poor. Those people really need to experience it to understand that minimum wage, even PT from 9/hr to 15/hr can make all the difference.
    "Love is a passion for life shared with another person."

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by Trojan View Post
    Would you kindly tell me why Canada, the United Kingdom, Ireland, Sweden, and a number of other countries have ~20% or higher population of single parents? All of which have substantial safety nets and minimum wages higher than ours. I wouldn't call any of those countries low on the standard of living list.

    http://i.imgur.com/pOcH3iW.png?1
    What a wonderful, CLASSIC example of cherry-picking! Out of sixteen nations (not counting the US), you picked the highest three (all of which still have lower percentages than the US) and tried to claim that this disproves what I told you.

    Not only that, but you use that chart to claim "Canada, the United Kingdom, Ireland, Sweden, and a number of other countries have ~20% or higher population of single parents". Canada, the UK, and Ireland do have percentages above 20% (none of which are as high as the US' percentage, of course), but you wrote that in a way to make it seem that it wasn't just those three, but even more. That's a very shallow attempt at skewing, guy - and it won't work.

    Look at that chart again, guy - there at the bottom. If the US is not counted, the AVERAGE and MEDIAN percentages of single parents in ALL those nations is 16%!!!! Whereas ours is 27%. That in and of itself shows that YES, generally speaking, the higher the standard of living, the lower the percentage of single parenthood.

    Thank you for helping me prove my case.
    Last edited by Glen Contrarian; 05-20-15 at 03:14 PM.
    “To do evil, a human being must first of all believe that what he’s doing is good" - Solzhenitsyn

    "...with the terrorists, you have to take out their families." - Donald Trump

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