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

  1. #141
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Fletch View Post
    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.
    It's literally what you said. The graphics designer "wont be happy" about making the same amount as a burger flipper.

    I make what I make. Why do you think I'll be upset if fast food workers make more money than they do now? Does that make me poorer?

    Other than some need to feel superior, why would I be unhappy?

    McDonald's is a ****ty job. I wouldn't work there for the same money I make flying planes.
    Last edited by Deuce; 05-23-15 at 11:35 AM.
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  2. #142
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by buck View Post
    Well, let's see what the actual, well respected economist in the MW field (who actually believes MW should be increased) says:
    So you are saying that in order to have fewer people in the labor force (lower lfpr) we should provide more welfare? It doesn't seem to me that many conservatives would advocate for that position. They are attacking Obama left and right for the declining lfpr (even though it was declining long before he took office).

    Maybe your not really a conservative, maybe you are an independent. Independents are allowed to think for themselves and don't have to subscribe to any standard political rhetoric positions

    I'm also thinking that if I agree with what you are saying, I would probably be a big supporter of the "BIG" (Basic Income Guarantee) which has been discussed a lot on DP recently.
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    I see a big problem with the idea that whatever the majority wants is OK.

  3. #143
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    Re: Warren Buffett: $15 minimum wage will hurt the working class

    Quote Originally Posted by ludin View Post
    The left loves to post Warren Buffett and parrot what he says as the way things should be done.
    https://fortune.com/2015/05/22/warre...-minimum-wage/

    well he just came out and made the same statement that other people have already acknowledged.
    a $15 minimum wage will hurt middle income families.

    His idea is to expand the EIC.
    Buffett makes a very good point. His key line however is this:
    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.
    We would all like to see the US educational system be first in the world and set the standard as Buffett has suggested, however it is painfully obvious that this country has no such goal in mind and that "education" is just a buzz word during election time. So, both parties and a host of presidents have failed miserably and the lower end of the talent scale, illegals excepted, are to remain ignorant. Yet, prices continually go up and up because the US's priority is a market economy. So, what are people to do without Buffett's dream? Rack renting and charging what the market will bear is a practice done in our sleep in this country, so people now have to wake up.
    “looking with fondness towards a reconciliation with Great Britain…I…would rather be dependent on Great Britain, properly limited, than with any other nation on earth or on no nation”. Thomas Jefferson; August 25 1775

  4. #144
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by WSUwarrior View Post
    You could probably do that....if you had people willing to work for a penny. That sounds like a socialist utopia.
    If the earned income credit was large enough, and if we eliminated the minimum wage, thats exactly what would happen.

    Hell, why not just make the earned income tax credit $100,000 per family and let employers pay their employees a penny an hour? We would have unlimited number of jobs (doing makework) an everyone would get a job (doing makework). I could hire someone to cut my grass every day, heck, twice a day, I hate a messy yard. That would be really productive wouldn't it?

    I would be able to pay employees nothing or almost nothing, so that they could have a job and qualify for the earned income credit, which is refundable and essentially what they would "earn" by working for me.

    It would be a sweet deal for employers, just pass the cost of labor onto Uncle Sam. But I'm not sure that it would be viable.

    When people suggest not increasing minimum wage, or eliminating minimum wage, and also advocate for the earned income tax credit or increasing that form of welfare, then they are essentially advocating for transfering the cost of labor from private employers to the government. I'm not sure that they understand this.
    Last edited by imagep; 05-23-15 at 11:47 AM.
    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.

  5. #145
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    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.
    That isnt his problem, that IS a problem. When I started out in law enforcement I made $15 an hour as a part time officer. That is with a bachelor's degree and paying my own way through LE academy.


    Now Im supposed to believe that someone flipping burgers making that same wage is A-OK? I was making felony arrests making that money...but thats called paying your damn dues. All those people working warehouse jobs that paid their dues to make $15+ as supervisors paid their dues. Come on bro....cant you admit that labor has a value? If you are working a job that requires no skill then you shouldnt be rewarded for breezing through life. That type of loser mindset makes my blood boil.

  6. #146
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by imagep View Post
    If the earned income credit was large enough, and if we eliminated the minimum wage, thats exactly what would happen.

    Hell, why not just make the earned income tax credit $100,000 per family and let employers pay their employees a penny an hour? We would have unlimited number of jobs (doing makework) an everyone would get a job (doing makework). I could hire someone to cut my grass every day, heck, twice a day, I hate a messy yard. That would be really productive wouldn't it?

    I would be able to pay employees nothing or almost nothing, so that they could have a job and qualify for the earned income credit, which is refundable and essentially what they would "earn" by working for me.

    It would be a sweet deal for employers, just pass the cost of labor onto Uncle Sam. But I'm not sure that it would be viable.

    When people suggest not increasing minimum wage, or eliminating minimum wage, and also advocate for the earned income tax credit or increasing that form of welfare, then they are essentially advocating for transfering the cost of labor from private employers to the government. I'm not sure that they understand this.
    Yea but your personal income tax would go through the roof then you would be at square one. Progs like yourself like shoveling money back and forth to pretend like they are doing something useful, when in reality they are just creating parasitic loss. Same thing goes with the car engine....the engine makes X horsepower...then when you introduce the transmission, drive shaft, axle, gears, tires, friction, etc you make a lot less horsepower. Parasitic loss....that is what happens when the government gets involved in ANYTHING. You are paying people to manage your money, so they are going to take some of that money to do the managing, turning your dollar into cents.

    But you would probably like that because, as a socialist, and as Ive already said, you believe that all money is the governments money.

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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by WSUwarrior View Post
    That isnt his problem, that IS a problem. When I started out in law enforcement I made $15 an hour as a part time officer. That is with a bachelor's degree and paying my own way through LE academy.


    Now Im supposed to believe that someone flipping burgers making that same wage is A-OK? I was making felony arrests making that money...but thats called paying your damn dues. All those people working warehouse jobs that paid their dues to make $15+ as supervisors paid their dues. Come on bro....cant you admit that labor has a value? If you are working a job that requires no skill then you shouldnt be rewarded for breezing through life. That type of loser mindset makes my blood boil.
    Aside from the benefits not calculated in to your "LE" enforcement employment (private school really paid off!), you are ignoring a basic, fundamental concept called....inflation (again with the thinking thingy!).
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    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.

  8. #148
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    Re: Warren Buffett: $15 minimum wage will hurt the working class

    Am I the only person who sees the irony in conservatives arguing that we should increase welfare rather than to increase income from actually being productive?

    Are conservatives the new 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.

  9. #149
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by WSUwarrior View Post
    That isnt his problem, that IS a problem. When I started out in law enforcement I made $15 an hour as a part time officer. That is with a bachelor's degree and paying my own way through LE academy.


    Now Im supposed to believe that someone flipping burgers making that same wage is A-OK? I was making felony arrests making that money...but thats called paying your damn dues. All those people working warehouse jobs that paid their dues to make $15+ as supervisors paid their dues. Come on bro....cant you admit that labor has a value? If you are working a job that requires no skill then you shouldnt be rewarded for breezing through life. That type of loser mindset makes my blood boil.
    It's amazing that libertarians and conservatives will lecture me that I shouldn't care how much money the rich make because it's none of my business, yet libertarians and conservatives are arguing that increasing the pay of low wage workers concerns them.
    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. #150
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by WSUwarrior View Post
    Yea but your personal income tax would go through the roof then you would be at square one. Progs like yourself like shoveling money back and forth to pretend like they are doing something useful, when in reality they are just creating parasitic loss. Same thing goes with the car engine....the engine makes X horsepower...then when you introduce the transmission, drive shaft, axle, gears, tires, friction, etc you make a lot less horsepower. Parasitic loss....that is what happens when the government gets involved in ANYTHING. You are paying people to manage your money, so they are going to take some of that money to do the managing, turning your dollar into cents.

    But you would probably like that because, as a socialist, and as Ive already said, you believe that all money is the governments money.
    LOL! ..."parasitic loss"....You know, this fits right into that Randian ideology analogy, so I have to ask, exactly how fast can you go with just a motor, ie, no trans, DS, diff, axle, tires.....etc, Speedy? There goes that thinky thingy versus memorizing!
    Quote Originally Posted by Drumpf
    "I could stand in the middle of 5th Avenue and shoot somebody and I wouldn't lose voters."
    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.

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