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Thread: Obama will not extend Bush tax cuts to wealthy

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    Re: Obama will not extend Bush tax cuts to wealthy

    why do you think its the unions who push the most for minimum wage hikes



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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by Boo Radley View Post
    What's a job worth? To who? Isn't in more a negotiation of how much I will pay and how much you will do it for, and worth has less to do with than other factors?
    It's all about supply and demand, plus what the market will bare.

    Just because you think you're worth, "X$", doesn't mean that there isn't someone else out there that will do it for 20% less, which depreciates the value of your particular trade.

    Jus common sense stuff. It's a wonder that Liberals usually don't get it.
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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by Boo Radley View Post
    That's how it works best, agreed. But factors can favor one over the other, often. But worth has very little to do with it.
    If it favors one over the other then the other party wouldn't accept the deal.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by TurtleDude View Post
    why do you think its the unions who push the most for minimum wage hikes
    Becuase goonion payscales are based on their value relative to the minimm wage. If Slug X is getting 3 times the minimum wage and then that peridious congress raises the minimum wage so that Slug X is now only getting 2.7 times the minimum wage, then Slug X automatically gets a 10% raise to restore his 3xMinimum status.

    Which is one the known inflationary drivers of the economy.

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by Boo Radley View Post
    What's a job worth? To who? Isn't in more a negotiation of how much I will pay and how much you will do it for, and worth has less to do with than other factors?
    Well, if an employer is willing to pay someone $10 an hour to do a job, and he finds someone willing to do the job for $8 an hour, that job is worth $8 an hour.

    If he needs the job done and is willing to pay $10 an hour, and the cheapest applicant is demanding $12 an hour, the employer has to decide if the job is worth doing, and he decides it's not, the job doesn't exist and is worth nothing, or he pays $12 an hour, and the job is worth $12 an hour.

    No government agency exists that can measure the value of a job. No congressional law can mandate the value of a job. The market does all that. And when the government agency and Congress get together to tell the employer that a job that isn't worth more than a couple bucks an hour is suddenly worth seven dollars an hour, then the employer is being robbed, and so are his customers, because he has to pass that inefficiency on to them or lose money.

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by Scarecrow Akhbar View Post
    Which is one the known inflationary drivers of the economy.
    Nah, that would be the printing press. Union wages just makes the price of their goods more expensive, meaning that they will produce less than they otherwise would (because you can sell more at the lower price and you will never produce for more than you can recoup in the long run).

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by Scarecrow Akhbar View Post
    Well, if an employer is willing to pay someone $10 an hour to do a job, and he finds someone willing to do the job for $8 an hour, that job is worth $8 an hour.

    If he needs the job done and is willing to pay $10 an hour, and the cheapest applicant is demanding $12 an hour, the employer has to decide if the job is worth doing, and he decides it's not, the job doesn't exist and is worth nothing, or he pays $12 an hour, and the job is worth $12 an hour.

    No government agency exists that can measure the value of a job. No congressional law can mandate the value of a job. The market does all that. And when the government agency and Congress get together to tell the employer that a job that isn't worth more than a couple bucks an hour is suddenly worth seven dollars an hour, then the employer is being robbed, and so are his customers, because he has to pass that inefficiency on to them or lose money.
    I understand that thinking completely, but worth is the wrong word. It is more need. As someone above stated, supply and demand. Not worth. We often under sell ourselves, and sometimes employers even over pay. But worth is not the word. We have no real standadrd for worth.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by Boo Radley View Post
    I understand that thinking completely, but worth is the wrong word. It is more need. As someone above stated, supply and demand. Not worth. We often under sell ourselves, and sometimes employers even over pay. But worth is not the word. We have no real standadrd for worth.
    Worth is a vague notion that will never have a concrete meaning, at least in the way that you're using it.

    And think about it like this. Say we all demand only $10 an hour with a job where we produce $30 per hour. Another company is going to start offering wages of $15 per hour. So how long will this first company keep its wages at $10 an hour when they will most certainly lose all of that talent to the company that is paying $15 per hour? Not very long. Wages tend toward marginal productivity. That is the value of a job.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by phattonez View Post
    Worth is a vague notion that will never have a concrete meaning, at least in the way that you're using it.

    And think about it like this. Say we all demand only $10 an hour with a job where we produce $30 per hour. Another company is going to start offering wages of $15 per hour. So how long will this first company keep its wages at $10 an hour when they will most certainly lose all of that talent to the company that is paying $15 per hour? Not very long. Wages tend toward marginal productivity. That is the value of a job.
    Only in practice, the company offering 15, goes to 20 until it pushes the other out of business, then it's 6.

    So was the job worth 10? 15? 20? or 6?

    Like I said, worth isn't the right word. And it is why there is often contention between employer and employee.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama will not extend Bush tax cuts to wealthy

    call it worth or whatever you want. all I know is that it isn't right to force a company to pay some idiot $7.25 an hour to stand behind a counter at Mickey Ds or bag groceries at Safeway.
    The best argument against democracy is a five-minute conversation with the average voter.

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