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

  1. #321
    Outer space potato man

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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by ludin View Post
    they an try and find another job but unless they improve their job habits chance are they will get fired again.
    But their skills aren't worth enough to feed themselves. Ludin has decreed it. They'll never make that much.
    Quote Originally Posted by calamity View Post
    Well, certainly the customer is not an N-word.
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  2. #322
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Deuce View Post
    But their skills aren't worth enough to feed themselves. Ludin has decreed it. They'll never make that much.
    strawmans are not arguments either.

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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by ludin View Post
    strawmans are not arguments either.
    Over and over we hear from you guys that these people aren't worth more than minimum wage. Burger flipping is only worth $5/hour, because reasons.
    Quote Originally Posted by calamity View Post
    Well, certainly the customer is not an N-word.
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    You know her?

  4. #324
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    Re: Warren Buffett Don't raise the minimum wage

    I don't think people are understanding this like Buffet is. They are only looking at party lines. He doesn't seem like he looks at that stuff. Raising it $15 now nationwide would be horrible. In the long run it would be fine though.
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

  5. #325
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Deuce View Post
    Over and over we hear from you guys that these people aren't worth more than minimum wage. Burger flipping is only worth $5/hour, because reasons.
    do you not understand how wages are determined? they are determined by the skill level of the job.

    so cashier or burger flipper or whatever. very easy skills to learn do not take advanced training and pretty much there is a almost endless supply of people that can do the job.
    that means the pay is significantly less.

    Network admin. specialty skill that takes trainging and an education and understanding of networking and computer in general. more specialized skill more pay.

    Doctor: highly specialized skill that takes years of education and training big money pay.

    CEO: a jack of all trades sort of person that is able to handle multiple issues at one time and be able to solve almost every issue or have a solution. usually the owner of the company and therefore big money.

    you are paid what you are able to produce. if you produce more than what is needed then the company profits and you move up. if you produce what is required then you stay where you are at. if you produce below expectations then you are fired.

    the job they are doing doesn't demand more than minimum wage is the problem.
    no skill requirements and a large pool of people that can do the job pretty easily.

  6. #326
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by JohnWOlin View Post
    I don't think people are understanding this like Buffet is. They are only looking at party lines. He doesn't seem like he looks at that stuff. Raising it $15 now nationwide would be horrible. In the long run it would be fine though.
    not really. as in the long run 15 dollars won't be enough to live on but that is what happens when you raise the floor.
    everything else raises with it and you are set at a new floor level.

    just now they don't qualify for the stuff they use to they make to much money.

    it is called economics of scale.

  7. #327
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Thrilla View Post
    what better way to devalue higher education than by making it "free"?
    Why is devaluing higher education bad?

    Was it bad to provide near-universal access to water? Even though it devalued water? We no longer have to hike 5 miles to the well for it. It's no longer as valuable as it once was. So what? We're better off for it.

    I don't understand why having everyone receive a better education is bad for the country. Sure, if everyone has it it's no longer special, but what does having a subset of our population feeling special achieve? A better educated populace is better. Full stop.
    "Education is the only thing you can do that will change society. Everything else is just a band-aid." - Jacqueline de Chollet
    "Democracy cannot succeed unless those who express their choice are prepared to choose wisely. The real safeguard of democracy, therefore, is education" - FDR

  8. #328
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by ludin View Post
    do you not understand how wages are determined? they are determined by the skill level of the job.

    so cashier or burger flipper or whatever. very easy skills to learn do not take advanced training and pretty much there is a almost endless supply of people that can do the job.
    that means the pay is significantly less.

    Network admin. specialty skill that takes trainging and an education and understanding of networking and computer in general. more specialized skill more pay.

    Doctor: highly specialized skill that takes years of education and training big money pay.

    CEO: a jack of all trades sort of person that is able to handle multiple issues at one time and be able to solve almost every issue or have a solution. usually the owner of the company and therefore big money.

    you are paid what you are able to produce. if you produce more than what is needed then the company profits and you move up. if you produce what is required then you stay where you are at. if you produce below expectations then you are fired.

    the job they are doing doesn't demand more than minimum wage is the problem.
    no skill requirements and a large pool of people that can do the job pretty easily.
    Another example of the ultimate failing of the libertarian mindset. It's taking Econ 101 and thinking you understand the economy, which is sort of like taking Physics 101 and thinking you're an engineer. It's not that the concepts are wrong, they're just woefully inadequate to actually explaining the real world.

    No, you aren't paid what you are able to produce. Your labor has excess value. That's literally the basis of all employment. If you produce more, there's absolutely no guarantee that you "move up."

    Maybe the real problem with the libertarian crowd is that they still think the world is fair.
    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. #329
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Nilly View Post
    Why is devaluing higher education bad?...
    those on the right often have an issue with jealousy. They simply don't want everyone to have what they have. An education, a decent wage, health insurance...you name it.
    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. #330
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    Re: Warren Buffett Don't raise the minimum wage

    What is with liberals and them wanting the government to provide them everything?

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