Page 14 of 45 FirstFirst ... 4121314151624 ... LastLast
Results 131 to 140 of 441

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

  1. #131
    Villiage Idiot
    imagep's Avatar
    Join Date
    May 2010
    Location
    Upstate SC
    Last Seen
    09-17-17 @ 09:35 AM
    Gender
    Lean
    Independent
    Posts
    23,355

    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Fletch View Post
    Lets use your business as an example then. Say the minimum is raised to $15. What happens? Obviously, the guy making $14 gets a dollar raise, but what happens to the rest of your employees who I assume are making $15+? Your skilled graphics art professionals aren't going to be to happy about now making as much as a 16 year old, unskilled mcDonalds burger flipper are they?
    I don't advocate for raising minimum wage that much overnight. And yes, you have a point that if we did that, there would be serious issues that would have to be worked out between each individual employee and employer.

    If I became boss of the US today, what I would do is to raise minimum wage by 10% a year until there is evidence that minimum wage has exceeded the economic maximizing rate, at which time I would index it like social security.

    I do believe that our current minimum wage is below what would maximize our economic growth, and there is a substantial body of evidence which leads me to this conclusion. I suspect that the ideal min wage is probably between $10 and $15/hr (probably closer to the $10 figure), but we have no way of knowing unless we experiment.

    I'm excited about individual citys countys and states increasing minimum wage because I believe that the evidence gathered from their actions will prove my point - and even if it proves me wrong, then we are still better off because then we know fer sher.
    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. #132
    Sage
    Gimmesometruth's Avatar
    Join Date
    Feb 2012
    Location
    US Southwest
    Last Seen
    09-13-17 @ 09:22 AM
    Gender
    Lean
    Liberal
    Posts
    22,405

    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by cpwill View Post

    That is false. Again, there is no forcing function that would require any of these employers to raise or lower their wages in inverse response to the safety net.

    Except - and this is a worthy point - to the degree that the safety net risks outbidding them for low-income labor. If you can make about as much or nothing at all sitting at home on your butt, there are plenty of people who will do that. But if we got rid of food stamps tomorrow, there is nothing that would force McDonalds or Wal Mart to calculate increase their wages to make up the loss to their workforce.
    LOL...declining welfare has no forcing method....even though here we are in a thread about a grass roots movement to force employers to increase wages.

    Oh my.
    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. #133
    Villiage Idiot
    imagep's Avatar
    Join Date
    May 2010
    Location
    Upstate SC
    Last Seen
    09-17-17 @ 09:35 AM
    Gender
    Lean
    Independent
    Posts
    23,355

    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by buck View Post
    Obviously you either didn't read or understand the economist quoted in the article. They are subsidies to the employee, not the employer. Getting rid of them would not cause an increase in wage. Getting rid of the low wage employers wold cause an increase in the welfare bill.
    From the economist:
    Employees often remain with a low wage paying employer only because means tested welfare allows them to have a decent standard of living despite making a low wage.

    If we eliminated means tested welfare, then low wage paying employers would have to compete harder for labor, because their employees would be less satisfied with their economic situation. When companies compete harder for labor, labor rates rise. So by welfare subsidizing low income employees, we are effectively allowing low wage employers to pay low wages by not having to compete as hard for labor.

    Any time the government subsidizes anything, the market get's distorted, and becomes less than optimal. It doesn't seem that I should have to lecture a conservative about how the capitalistic free market works, but you guys obviously don't understand it.

    It amazes me how many so called conservatives would prefer to increase welfare, rather than to increase wages. You guys are really progressive liberals.
    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. #134
    Sage

    Join Date
    Nov 2009
    Last Seen
    Today @ 11:42 AM
    Gender
    Lean
    Slightly Liberal
    Posts
    8,195

    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by imagep View Post
    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.
    You are saying (better than I did) what I was trying to say. What happens to your business when the guy making $14 now needs to make $20 to keep up. Also not sure that a national rate needs to be anything other than a floor. Is the cost of living in SF the same as a small town in Miss. If not why would the minimum wage be the same.

    Some cities/states have raised the rate. I think that is the best way to do it. NYC is not the same as upstate NY.

    Then again we are still not looking at the root cause of why someone with a family is working for minimum wage. We also are not asking why that person needs to max out at 35-40 hours.

  5. #135
    Sage
    Fletch's Avatar
    Join Date
    Feb 2012
    Location
    Mentor Ohio
    Last Seen
    Today @ 06:50 AM
    Gender
    Lean
    Libertarian
    Posts
    13,951

    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by imagep View Post
    I don't advocate for raising minimum wage that much overnight. And yes, you have a point that if we did that, there would be serious issues that would have to be worked out between each individual employee and employer.
    That's good to hear, but there are plenty of people who do advocate raising the minimum to $15. Do you think that those who do simply aren't bright enough to understand the actual impact of what they propose? Or do you think they just don't care?

    If I became boss of the US today, what I would do is to raise minimum wage by 10% a year until there is evidence that minimum wage has exceeded the economic maximizing rate, at which time I would index it like social security.
    I would allow the market to determine what the minimum wage is

    I do believe that our current minimum wage is below what would maximize our economic growth, and there is a substantial body of evidence which leads me to this conclusion. I suspect that the ideal min wage is probably between $10 and $15/hr (probably closer to the $10 figure), but we have no way of knowing unless we experiment.

    I'm excited about individual citys countys and states increasing minimum wage because I believe that the evidence gathered from their actions will prove my point - and even if it proves me wrong, then we are still better off because then we know fer sher.
    My daughter just got her first job at DQ making minimum wage and got a check yesterday for $290. Do you know how much money that is to her? She doesn't need a living wage. She needs work EXPERIENCE. That is what an entry level job provides. Raise the minimum too high and what incentive would DQ have to hire a sixteen year old with no experience, no references and no high school degree? Answer: none. No one benefits when leftists saw off the bottom rungs of the ladder in order to make themselves feel good.

  6. #136
    Outer space potato man

    Join Date
    Feb 2010
    Last Seen
    Today @ 09:33 AM
    Gender
    Lean
    Undisclosed
    Posts
    50,187

    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Fletch View Post
    Lets use your business as an example then. Say the minimum is raised to $15. What happens? Obviously, the guy making $14 gets a dollar raise, but what happens to the rest of your employees who I assume are making $15+? Your skilled graphics art professionals aren't going to be to happy about now making as much as a 16 year old, unskilled mcDonalds burger flipper are they?
    If you feel worse about your job because someone else you deem inferior makes the same amount of money as you, well, that's your problem.
    Quote Originally Posted by calamity View Post
    Well, certainly the customer is not an N-word.
    Quote Originally Posted by apdst View Post
    You know her?

  7. #137
    Sage

    Join Date
    May 2009
    Location
    USA
    Last Seen
    Today @ 10:39 AM
    Gender
    Lean
    Conservative
    Posts
    9,794

    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by imagep View Post
    If we eliminated means tested welfare, then low wage paying employers would have to compete harder for labor, because their employees would be less satisfied with their economic situation.
    Well, let's see what the actual, well respected economist in the MW field (who actually believes MW should be increased) says:

    Therefore, SNAP is likely to raise, and not lower a worker’s reservation wages—the fallback position if she loses her job. This will tend to contract labor supply (or improve a worker’s bargaining position), putting an upward pressure on the wage.

  8. #138
    Outer space potato man

    Join Date
    Feb 2010
    Last Seen
    Today @ 09:33 AM
    Gender
    Lean
    Undisclosed
    Posts
    50,187

    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by cpwill View Post
    1. MW is plenty to eat.
    Have you seen McDonald's "example budget" for minimum wage workers?

    2. No you don't. Witness: high school kids, second income earners, interns.
    Which part of full-time was confusing?


    then supply and demand will drive up what I have to pay to attract full-time labor, now, won't I?
    Only in the Econ 101 universe of college sophomore libertarians.

    That is false. Again, there is no forcing function that would require any of these employers to raise or lower their wages in inverse response to the safety net.


    Except - and this is a worthy point - to the degree that the safety net risks outbidding them for low-income labor. If you can make about as much or nothing at all sitting at home on your butt, there are plenty of people who will do that. But if we got rid of food stamps tomorrow, there is nothing that would force McDonalds or Wal Mart to calculate increase their wages to make up the loss to their workforce.
    Yes there is. Workers losing the roof over their heads and no longer being employable.
    Last edited by Deuce; 05-23-15 at 11:30 AM.
    Quote Originally Posted by calamity View Post
    Well, certainly the customer is not an N-word.
    Quote Originally Posted by apdst View Post
    You know her?

  9. #139
    Sage
    Fletch's Avatar
    Join Date
    Feb 2012
    Location
    Mentor Ohio
    Last Seen
    Today @ 06:50 AM
    Gender
    Lean
    Libertarian
    Posts
    13,951

    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Deuce View Post
    If you feel worse about your job because someone else you deem inferior makes the same amount of money as you, well, that's your problem.
    Now that's just stupid. If you are that incapable of understanding what is being discussed go back to watching cartoons and leave discussions like this for grown ups.

  10. #140
    Professor WSUwarrior's Avatar
    Join Date
    May 2015
    Last Seen
    03-21-16 @ 03:34 PM
    Lean
    Very Liberal
    Posts
    1,864

    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by imagep View Post
    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?
    You could probably do that....if you had people willing to work for a penny. That sounds like a socialist utopia.

Page 14 of 45 FirstFirst ... 4121314151624 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •