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

  1. #111
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by cpwill View Post
    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.
    It's making the taxpayers support the low-income worker because the business isn't giving them enough to feed themselves with.
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  2. #112
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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.
    Welfare Payments Really Are Not Subsidies To The Profits Of Walmart And McDonald's - Forbes

    The key point is that it is difficult to imagine how food stamps would lower wages. And if they don’t lower wages, they can’t be thought of as subsidies to low wage employers. The same logic applies to other means tested programs like energy or housing assistance. Moreover, these conclusions hold in a wide array of models of the labor market, including ones that emphasize bargaining or efficiency wage concerns.
    Yes, the welfare system of the United States does provide subsidies. However, these are not subsidies to the profit margins of low wage employers like Walmart and McDonald’s Instead, as this journalist and that respected economist point out, they are subsidies to low wage employees themselves.

  3. #113
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    Re: Warren Buffett Don't raise the minimum wage

    ​How low-wage employers cost taxpayers $153B a year - CBS News

    Walmart: America's real 'Welfare Queen'

    The Case Against Welfare | The moral case against welfare - tribunedigital-baltimoresun

    Economic perspectives against the welfare state - CSMonitor.com

    You conservatives are all alike. You want to run up the national debt and increase taxes to create a welfare state.

    I'm often accused of being a liberal, yet I don't support any form of means tested welfare. It simply locks people into poverty at the expense of the tax payer, while substantially increasing the profits of low paying employers.
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    I see a big problem with the idea that whatever the majority wants is OK.

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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by cpwill View Post
    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?
    Obviously the pressure by the employee upon the employer for wage increases is reduced by tax credits, everyone knows that, and it is a distortion on the market, which again, everyone knows.
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    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
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    When it comes down to it, all facts are cherry picked.
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  5. #115
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Deuce View Post
    It's making the taxpayers support the low-income worker because the business isn't giving them enough to feed themselves with.
    The business gave them a job. A business is not a safety net structure, it is a business. If the employees want more income, they need to improve their skill set, experience, etc. Because the alternative to a low paying job for someone who hasn't done that is not a good-paying-job, it is no job. If anything, the business is saving the taxpayers money by reducing the amount of support the low-skill workers they hire will require from the safety net, and helping them to develop the skills and experience that could one day get them off of public support alltogether.
    “In America we have a two-party system,” a Republican congressional staffer told a visiting group of Russian legislators. “There is the stupid party. And there is the evil party. I am proud to be a member of the stupid party. Periodically, the two parties get together and do something that is both stupid and evil. This is called: bipartisanship."

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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Deuce View Post
    It's making the taxpayers support the low-income worker because the business isn't giving them enough to feed themselves with.

    There are some jobs that are not meant to be able to feed yourself. Perhaps one should ask why people are stuck doing jobs for a lifetime that are usually handled by HS kids. Why not try and fix that problem rather than raise their pay above the rate you would pay someone to print t-shirts.

  7. #117
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Gimmesometruth View Post
    Obviously the pressure by the employee upon the employer for wage increases is reduced by tax credits, everyone knows that
    that's your forcing function? Demonstrate it. Please show me how either employees stop wanting higher wages when they get aid from a safety net structure or employers are forced to take a loss on employees when employees really want them to.

    it is a distortion on the market, which again, everyone knows.
    Well, that is true - and is true of any safety net. It keeps less productive citizens from fully suffering the consequences. But I'm willing to put up with that.
    “In America we have a two-party system,” a Republican congressional staffer told a visiting group of Russian legislators. “There is the stupid party. And there is the evil party. I am proud to be a member of the stupid party. Periodically, the two parties get together and do something that is both stupid and evil. This is called: bipartisanship."

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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by cpwill View Post
    The business gave them a job. A business is not a safety net structure, it is a business. If the employees want more income, they need to improve their skill set, experience, etc. Because the alternative to a low paying job for someone who hasn't done that is not a good-paying-job, it is no job. If anything, the business is saving the taxpayers money by reducing the amount of support the low-skill workers they hire will require from the safety net, and helping them to develop the skills and experience that could one day get them off of public support alltogether.
    The argument used to be merit, ie productivity, that was broken. From what I have read, most worker are over-qualified for their job, which to me sounds like a market failure.
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    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.

  9. #119
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by washunut View Post
    There are some jobs that are not meant to be able to feed yourself. Perhaps one should ask why people are stuck doing jobs for a lifetime that are usually handled by HS kids. Why not try and fix that problem rather than raise their pay above the rate you would pay someone to print t-shirts.
    My lowest paid employee makes $14 to "print t-shirts". Every job in my shop requires a skilled graphics art professional. And no high school kid has the job skills that I require. I guess I could hire a high school kid to clean up or take out the trash, but I only need so much cleaning up and trashing removal. This ain't burger flipping.
    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.

  10. #120
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Kushinator View Post
    Just so it's clear, 1.6 million workers earn the minimum wage (another 2 million servers and bartenders earn less due to tip share).

    Now with that said, do you know how many do not earn MW? Don't worry, ill wait.
    You have to know that your post doesn't address a word that I said, right? Now why don't you read it again and try to actually engage in honest conversation. I know that is something liberals don't often do, but give it a shot.

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