the minimum wage: reality check

Big Business does not create the market for labor. It does reduce the size power and influence of the working class.
A cash subsidy would, IMO, be far more useful for low wage workers than a social manager.

 

they do that anyway, so what is your point?

the point of that public policy is to have Labor creating demand for goods and services, at the fifteen dollar an hour, minimum wage equilibrium; at the end of the day.

consolidation will happen as well.

 

A minimum wage is only part of the solution. Unemployed labor needs capital to circulate in our economy.

Thus, unemployment compensation at one dollar an hour less than the statutory minimum wage will ensure full employment of capital resources regardless of whether or not labor is employed. Capitalism's, natural rate of unemployment is Only for the capital convenience of Capitalists, not Labor.

 

Firms create demand for labor.

 

Anyone with funds and work they want done can create demand for labor. Do you need have some weeds pulled? Windows washed?

 

How does creating a demand for labor do what you claim?

 

"I will pay you this $20 bill to clean my windows". = Demand for labor.

 

Without direct government intervention, to a level we dont currently have. It will not happen that way.

They will raise prices, making the up in wages meaningless.

 

Inflation happens regardless.

 

A "minimum wage" only eliminates the need for welfare assistance to working families and it must be high enough to accomplish that. We've never had a "Minimum Living Wage" in America so of course it can't eliminate "social services" (welfare) for working households.

 

While raising prices is the least desirable means of offsetting increased employment compensation costs when used it's only a small percentage relative to the increased wages for the workers. Employee compensation is a minor percentage of gross revenue, typically between 20% and 30%, so a 10% increase in compensation costs only results in a 2% to 3% increase in prices if all of the offset is accomplished by a price increase.

Basically the worker is still far better off financially even if prices are increased to cover the increased labor costs.

As noted though raising prices is the last thing a business owner is going to do and even then they will make every attempt to minimize any increase.

 

your point? you seem to be supporting my contention rather than yours.

 

That can be changed. All we really need do is convince the Judicature to faithfully execute our own laws.

Maybe we just need, Judicial activity partners.

 

I frequently support your contentions.

 

You can bluff or smokescreen your way pass this. The HISTORICAL FACTS in the link I produced contradict your silly repetition in various ways of your supposition and conjecture....increasing the minimum wage would NOT kill the jobs that folk like you swear would happen....that has been established by successful people in the business. And as a footnote, the increase in prices has been going steady WITHOUT a parallel increase in the minimum wage. Fact.

And spare me that garbage by right wing corporate sycophants about regulations and corporations, because my link shows that is NOT the status quo for all.

Kudos for being a parrot of corporate greed. The Walmart family owners would be proud.

 

I acknowledge your rejection of economic science.

 

And there you have it folks......FACTS validated by the Seattle Times, the President of Costco, EVERYONE ELSE IS LYING EXCEPT Ccrata, who just keeps parroting his opinion, supposition and conjecture ad nausea as if it's supersedes all else.

I asked him to supply FACTS to the contrary, and he couldn't.

When I come across insipidly stubborn folk like this, I just dump them into the IA bin, as rational exchange is impossible.

 

LOL. You are a funny guy. A comedian. You must be living in your parents basement if you believe people making say 10 bucks an hour are investing, saving money? And of course, they are paying rent, electrical, water, phone, food, car payment, insurance on the car, insurance for medical. My friend, you have lost your mind, and I advise to get off of your parents and go an try it for yourself. My money says, if you are working, you are making nothing so low as you list. You live in a bubble. Or you are a comedian. But you sure as hell are not living in the world I live in, or anyone else.

But hey, people in Africa run away buck naked, eat bugs, live in mud houses, so why shouldn't americans be able to do that? That is your argument. Or your joke.

 

Actually I'm an old guy, who basically worked from age 10 (9 cents per line, setting bowling pins) to loading boxes for Libby's for 50 cents per hour, then four years in the AF, clearing 36$/MONTH. But in my day, you took what jobs were available and knowing the pay. We were also GRATEFUL...

This said, young folks expect wages most that hire inexperienced young folks, would never pay. Not only for the cost of training, but local, State and Federal requirements. That degree in Poetry or some useless subject, then having debt no employer would hire, is a loosing proposition for all concerned.

Actually, $5/hr is too much for most entry level jobs, so 15/hr is impossible to pay, which by the way only leads to inflation and the same problem later, when asking MW will be 30/Hr... By the way, it's not the employer or some customer bases fault, some folks just can't get along on less money or didn't prepare themselves for a future job market....

 

I have an idea: Why pay people anything? Let's do away with wages altogether. Let's bring back slavery. ( sarcasm intended)

 

How does an adult who has been educated by government schools for 18 years come out with so little skills that she can't command more than $10 per hour in wages?

 

While it's usually for charity, many career foundations are built on free labor, while training. Most interns, at all levels of Politics/Government, start at some form of internship, as do many in law or the medical fields. Many jobs are based on performance or commissions, with little or no pay and a good many people spend their life doing contract labor, where the cost of some job could leave no pay. In fact half those nasty employers, will eventually fail, some loosing everything or starting over.

 

Hey doesn't comprehend.

 

Only the capital right believes wages and taxes are too high.

 

most jobs being created are in the low wage, service sector.