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Thread: Warren Buffett: $15 minimum wage will hurt the working class

  1. #101
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by cpwill View Post
    Here Buffet is correct. So is Paul Ryan, who has called not only for expanding the EIC, but for making it payable as part of a monthly stipend, so that you are increasing low-income Americans monthly take-home pay with it, vice simply providing them with a once-a-year lump-sum.
    You conservatives are all about subsidizing low wage paying companies and increasing welfare.
    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.

  2. #102
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by WSUwarrior View Post
    Its not their fault...its the governments fault for not giving them better choices...or just getting the hell out of the way. Most societal problems can be traced back to the federal government...a federal government that you support the expansion of.
    Oooh, another thinking problem, the states have a much greater role in public school curriculum.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

  3. #103
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    Re: Warren Buffett Don't raise the minimum wage

    As an employer, I really hope that minimum wage does not rise, and that means tested welfare programs are expanded. That way I can pay **** wages, and let the taxpayer take care of my employees.

    I will then be able to put more money into my personal bank account, which I can use on my annual caribbean cruse (thanks taxpayers).
    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.

  4. #104
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by imagep View Post
    You conservatives are all about subsidizing low wage paying companies and increasing welfare.
    1. It's not subsidizing low-wage-paying companies. There is zero forcing function in either direction. It is about subsidizing low-income workers.

    2. Paul Ryan's plan would indeed increase EITC outlays. His plan makes up for that by reducing outlays elsewhere.

  5. #105
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by imagep View Post
    As an employer, I really hope that minimum wage does not rise, and that means tested welfare programs are expanded. That way I can pay **** wages, and let the taxpayer take care of my employees.

    I will then be able to put more money into my personal bank account, which I can use on my annual caribbean cruse (thanks taxpayers).
    So, as an employer, let's say that instead actually EITC get's made nominally flat, meaning that it doesn't grow with inflation, and reduces in real terms as time goes by.

    What forces you, as an employer, to figure for and then add that difference, annually, to your employees checks? Does the government do it?

  6. #106
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by clownboy View Post
    You set up a condition where the majority of the free education users become the new minimum wage class. Water seeks it's own level. Anyone, no matter how poor, who has the capability and the drive, can get into and through a for payment college or technical school. Yes, they'll most likely graduate with significant debt, but that is nothing new (ask any white collar professional from any generation). But they'll also graduate with the capability to service that debt AND to have a long higher paying career.
    Another case of libs wanting to double down on failed policy. We already have a legion of professional students with no intention of ever entering the work force and actually doing something with their government largess. Hey, I know, let's double down on that!

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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by imagep View Post
    As an employer, I really hope that minimum wage does not rise, and that means tested welfare programs are expanded. That way I can pay **** wages, and let the taxpayer take care of my employees.

    I will then be able to put more money into my personal bank account, which I can use on my annual caribbean cruse (thanks taxpayers).
    If you are running a successful business you DESERVE an annual Caribbean cruise. If you are a loser who didnt take your life seriously and live paycheck to paycheck in a no skilled, low paying job as a career then you dont deserve much.

  8. #108
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by TheDemSocialist View Post
    How about raising the minimum wage
    It makes the poorest and least-skilled amongst us structurally almost unemployable. Why not get them the same increased financial support in such a way that it doesn't harm their ability to get a job and improve their life position?

    and also investing in education?
    We spend plenty on education. What we don't do is wisely structure it, or wisely structure our educational system.

  9. #109
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by cpwill View Post
    Here Buffet is correct.
    Sure he is...


    In my mind, the country’s economic policies should have two main objectives. First, we should wish, in our rich society, for every person who is willing to work to receive income that will provide him or her a decent lifestyle. Second, any plan to do that should not distort our market system, the key element required for growth and prosperity.

    The problem is that the market has been distorted since the application of supply-side neo-liberal policy since 1977 through today, it broke the connection between productivity and wage gains resulting in nearly flat real wages for 80% of wage employment. Households require 2 earners and still household expenses outstripped income by 30% from 2000 to 2012. In other words, the market has not provided jobs with incomes to allow folks below the median to maintain a "decent" lifestyle, their lifestyle is in descent.


    That second goal crumbles in the face of any plan to sizably increase the minimum wage. I may wish to have all jobs pay at least $15 an hour. But that minimum would almost certainly reduce employment in a major way, crushing many workers possessing only basic skills. Smaller increases, though obviously welcome, will still leave many hardworking Americans mired in poverty.

    Perhaps the old man is not aware that the plans spread the increase out over years, but he undercuts his whole argument by claiming that even with MW increases "many" will remain in poverty. Is he admitting the market has failed (it has) or is he muddying with a truism about the elderly and children?





    So is Paul Ryan, who has called not only for expanding the EIC, but for making it payable as part of a monthly stipend, so that you are increasing low-income Americans monthly take-home pay with it, vice simply providing them with a once-a-year lump-sum.
    That sounds like a really bad idea since those with significant amounts of EIC also have the largest amount of income variance. His "plan" would require an anticipation of annual income to calculate a month going forward (which could result in a tax charge if income falls short of anticipation) or will require monthly reporting/paperwork.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

  10. #110
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by WSUwarrior View Post
    If you are running a successful business you DESERVE an annual Caribbean cruise. If you are a loser who didnt take your life seriously and live paycheck to paycheck in a no skilled, low paying job as a career then you dont deserve much.
    I think I deserve a monthly Caribbean cruise. Maybe the taxpayer should provide all of my workers income, that way I can have what I deserve (and so can they). I mean why should I, someone who runs a successful business, have to pay those low skilled employees a penny? Isn't that Uncle Sams job?
    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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