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

  1. #271
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by TurtleDude View Post
    most of those who are "poor" dropped out of HS. so how is spending more money on education they won't take advantage of a good thing?
    Used to be true, but not anymore. 40% of my state works for less than a living wage. No way HS drop out rates are that high

    There's a problem with kids not being inspired by education, but part of the reason is abysmal funding levels. 50 students per teacher in K-12 is not gonna cut it

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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by chromium View Post
    Used to be true, but not anymore. 40% of my state works for less than a living wage. No way HS drop out rates are that high

    There's a problem with kids not being inspired by education, but part of the reason is abysmal funding levels. 50 students per teacher in K-12 is not gonna cut it
    lets jettison this living wage idiocy. It has no relevance to a rational discussion about the cost of a commodity known as labor
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by TurtleDude View Post
    lets jettison this living wage idiocy. It has no relevance to a rational discussion about the cost of a commodity known as labor
    That's because you really can't put a price point on what one person might accept as a fair labor rate versus another. This is precisely why so many Republicans who are against both immigration reform and increasing the minimum wage purposely convoluted both issues by throwing in how allowing immigrants to come into the U.S. and increasing the minimum wage will have such a negative impact of employment prospects for unskilled Blacks. It's easier to get people who are desperate and know no better to accept an unfair price point in wages and call it "fair" when they're hungry and all they want to do is survive. But have that same Black person, for example, apply for that same construction job and ask for a salary he knows he's worth and he's most likely to lose the job not because he's unqualified, but because his asking price above minimum wage is too high compared relatively to the immigrant who will take $2.50/hr AND is willing to be paid under the table/off the books.
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Capster78 View Post
    What you cut out when raising minimum wage, is government intervention in peoples lives. As we have seen over the last 50 plus years, the handling of the poor by the government has been disasterous. We have a society that is rife with violence. Much of the violence comes from those who live in poverty, and live off the government. You want to lower crime, raise minimum wage.
    I agree, but I think you have to go a step further.

    You have to create job opportunities for people and right now the ideological concept of "rich people being allowed to keep more of what they earn will put that money back into their business to grow and expand" isn't coming to fruition any more than trickle-down economics has been a reality. Moreover, you don't see many rich people today with BIG construction and expansion ideas as we saw in the late 1800's - 1950's. So, more and more people remain congregated in the same communities with very little national migration to where the jobs are. Think in terms of Vanderbilt conceiving of and constructing what came to be Grand Central Station in NYC or public works projects like building the Hoover Dam where the masses flocked to these jobs and some eventually resettled the landscape.

    That's not happening because both ends of the "growth ideology" have been bludgeoned: the rich have been vilified as being greedy and vein and not imaginative or compassionate, and government has been deemed excessive, intrusive not to mention irresponsible in both the allocation of tax dollars and proper management of those dollars.

    So, if you're not going to trust that private enterprise is going to be fair in constructing a toll road or a subway system meant to serve the public at a fair consumer price nor are you willing to allow tax dollars to be spent on public works projects that amount to nothing more than "private-public contract" jobs, how do you expect the economy to improve and expand? Taken a step further, how can the little guy with a BIG idea get into the marketplace if he can't obtain the financing neither by himself because his salary won't afford him to take the risk on his own nor from a bank because borrowing has been limited?

    We throw out all these ideas of reaping financial rewards through individual effort and yet we squash the very idea of "individual liberty in a free market system" by framing the arguments as "stealing from the rich to give to the poor who will only squander the opportunity given by a rich man". And that includes the narrative around how federal tax dollars are to be used.

    "Give generously from the heart and you shall be rewarded". The begger and the cheat will always be present, but more good than evil, more productivity than waste will come from compassionate giving on both ends of the "growth ideology" if we just stop thinking in terms of "mine" and 'waste" and instead consider how helping one helps us all.
    Last edited by Objective Voice; 05-25-15 at 09:51 AM.
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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.
    He is only talking his own book. A minimum wage of $15 will almost certainly hit jobs and increase redundancy leaving more people ddisaffected and angry. This will reduce legitimacy, cause unrest and further fan liberal policy. That is not, what he wants. It is what Democrat agitators want.

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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Objective Voice View Post
    That's because you really can't put a price point on what one person might accept as a fair labor rate versus another. This is precisely why so many Republicans who are against both immigration reform and increasing the minimum wage purposely convoluted both issues by throwing in how allowing immigrants to come into the U.S. and increasing the minimum wage will have such a negative impact of employment prospects for unskilled Blacks. It's easier to get people who are desperate and know no better to accept an unfair price point in wages and call it "fair" when they're hungry and all they want to do is survive. But have that same Black person, for example, apply for that same construction job and ask for a salary he knows he's worth and he's most likely to lose the job not because he's unqualified, but because his asking price above minimum wage is too high compared relatively to the immigrant who will take $2.50/hr AND is willing to be paid under the table/off the books.
    ah more proof that the Democrat party's pandering is going to lead to problems. They want unlimited immigration since many Latino immigrants-legal or otherwise-want handouts but at the same time this hurts black labor
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by imagep View Post
    Not at all. Pay is determined by negotiating power.

    If I can hire you for $8/hr, and if you are suitable for he position I need to fill, I'm not going to offer you more money just because you have a PhD.
    LOL

    Of course it is. It's naive to suggest otherwise.

    A PhD is likely not going to be interested in your $8/hr job. And if you could snag a PhD for that menial job, you'd likely be willing to pay them more than the average unskilled worker applying for the same job.

    It's probably not helpful to be thinking of unskilled jobs when trying to make your point. An unskilled worker is in a poor position to negotiate pay as a Senior Programmer at Microsoft, but a PhD in Computer Language would be in a rather strong position. Pay is a measure of value to the market, which includes supply/demand.

    That is a fact.
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    Re: Warren Buffett Don't raise the minimum wage

    Warren Buffett: $15 minimum wage will hurt the working class
    guaranteed debt free access to college / post secondary job training would do a lot more good than a fifteen dollar minimum wage.

  9. #279
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Helix View Post
    guaranteed debt free access to college / post secondary job training would do a lot more good than a fifteen dollar minimum wage.
    Everyone isn't cut out for college or higher skill level jobs.
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    I see a big problem with the idea that whatever the majority wants is OK.

  10. #280
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by imagep View Post
    Everyone isn't cut out for college or higher skill level jobs.
    True and I wish High School would promote this and let kids know about trade and vocational training instead of college or bust.

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