How is a $15 federal minimum wage connected to Covid relief?

Discussion in 'Current Events' started by DentalFloss, Jan 15, 2021.

  1. DentalFloss

    DentalFloss Well-Known Member

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    Well, congratulations! In your zeal to ensure that someone makes what you decide is a "living wage", you have just put an entire company out of business, resulting in the loss of EVERY job that company offered. Way to go, champ!
     
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  2. maxLiberal

    maxLiberal Banned

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    why is $pending for needs always a problem for some? and why do we only hear it hypocritically when there's a Dem President?
     
  3. Indlib

    Indlib Well-Known Member

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    Didn't we try this a few decades ago and it didn't work out?

    Maybe my view is overly simplistic but the less 19+ year olds who are not claimed by their parents make; the more government assistance will be required thus raising taxes. The more they get paid (reasonable amount) the less government assistance and lower taxes.

    Basically do you want to cover the cost with taxes or pay a bit more for a cheeseburger? Either way works but I tend to support demand side economics over supply side because I think it puts more cash in the hands of everyday people which drives up demand for goods and services which of course drives up supply.

    Giving more to the rich in the form of lower wages for employees does help with investment and reseach and for a yacht and fancy cars but that doesn't drive up demand much for everyday products.

    Not saying your idea is worse or that I am an expert but this is just how I see it. I do agree that minimum wage could be lower for the under 19 and living at home crowd perhaps with limits on how many of those you can hire vs 19+ year olds.
     
  4. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    Reasoning like this is why left wing controlled areas have some of the highest costs of living
     
  5. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    Because in reality, money does not solve all issues or problems.

    The idea that you just throw money at things (mostly always other peoples money) and then pat yourself on the back for solving an issue is simply not how it works.
     
  6. Indlib

    Indlib Well-Known Member

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  7. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    Why in both of your examples is it my responsibility to solve?

    So basically, government create an issue where people that earned under a certain rate get government subsidizing and become eligible for programs paid for by others.

    When that position created an environment where employers could offer lower wages since government would subsidize the employee, the solution was MORE government intervention and mandate employers pay more.

    Government is a disease masquerading as it's own cure.
     
  8. FreshAir

    FreshAir Well-Known Member Past Donor

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    was 50 cents an hour when my grandma was younger, sure someday will be $30

    people whined every time it has gone up, will be some whining now too
     
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  9. maxLiberal

    maxLiberal Banned

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    who's talking about wasting money? do the 1%ers need another tax break?
    yes, money makes big differences to the masses in need but those who are comfortable tend to be stingy.
    where'd all that PPP money go?
     
  10. Indlib

    Indlib Well-Known Member

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    I asked you to solve nothing. This forum is for political debate and was simply giving you my assesement.

    Well I guess you could say the government created the issue. That said there are simply not enough jobs available that pay a living wage even if every American was ambitious and did everything they could to get training and good jobs. What would you have those people do?

    I can agree with this but again, I don't think letting the market decide is a viable solution as it has already been done and most companies utilize the Friedman economic concept which is not conducive to living wages.

    That is a pretty broad generalization. The metaphor is accurate to an extent but a bit dramatic.
     
  11. FreshAir

    FreshAir Well-Known Member Past Donor

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    it will ease up the financial issues worsened by the virus, it may be too late though, personally I think a crash is coming no matter what we do
     
    Last edited: Jan 22, 2021
  12. ButterBalls

    ButterBalls Well-Known Member

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    It's not! But in the long run commerce will simply inch the prices up for products and labor until the $15 no longer buys anything more then it did at todays min wage..

    It's simply chasing a tail you can never catch, but the politicians, especially the DNC use it as a dangling carrot as another "Give you more and free" campaign promises ;)
     
    Last edited: Jan 22, 2021
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  13. fiddlerdave

    fiddlerdave Well-Known Member Past Donor

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    The single cost of living is housing, buying it or renting it.

    A 30 yo basic one bedroom apartment in Los Angeles in an old area costs $1500 per month.

    A friend in Toledo Ohio new 2 bedroom apt. in a nice area costs $450 per month to rent.

    The difference is location, location, location. The housing costs are driven up by the demand.
     
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  14. gfm7175

    gfm7175 Well-Known Member

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    ... because minimum wages are price controls, and price controls ALWAYS result in shortages... in this case, a shortage of jobs.
     
  15. 61falcon

    61falcon Well-Known Member

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    Considering the MEDIAN Fortune 500 CEO pay is $12.3 Million they are making 394 times the pay of a $15.00 an hour employee. Maybe they all should make a few million less each year and spread the wealth which will work wonders for our economy. Those at the lower end of the income scale spend their earnings due to necessity while those at the upper end invest and save theirs. the more money injected into the economy the higher our GDP.
     
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  16. gfm7175

    gfm7175 Well-Known Member

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    Quantify "poor". Quantify "wealthy". You are using subjective terminology. Expand upon "higher numbers"...

    Minimum wage laws do not help poor people. They are price controls, and price controls always lead to shortages, in this case a shortage of jobs. Making $7.25/hr (or $10/hr, or whatever) sure beats the heck out of making $0.00/hr after the job gets eliminated.
     
  17. gfm7175

    gfm7175 Well-Known Member

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    I oppose raising the minimum wage (and support eliminating it). All it is is a price control, and price controls always lead to shortages (in this case, a shortage of jobs).
     
  18. gfm7175

    gfm7175 Well-Known Member

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    Yes. The minimum wage is merely a price control that results in a shortage of jobs.

    It should be eliminated.
     
  19. Indlib

    Indlib Well-Known Member

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    It already was eliminated and that didn't work out well. This link is an interesting read on the subject and also points out how minimum wage has not kept up with inflation. IE minimum wage now is 27 percent lower then in the 60s relative to inflation.

    https://www.thebalance.com/us-minimum-wage-what-it-is-history-and-who-must-comply-3306209

    I touched on this in a prior post but I am skeptical free market wages would work considering coorporate America has embraced the Milten Freidman theory of economics.
     
  20. Bluesguy

    Bluesguy Well-Known Member Donor

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  21. Bluesguy

    Bluesguy Well-Known Member Donor

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    • Gradually raising the minimum wage to $15 by 2024 would directly lift the wages of 28.1 million workers. The average directly affected worker who works all year would receive a $3,900 increase in annual wage income—equal to a raise of 20.9 percent. Another 11.6 million workers would benefit from a spillover effect as employers raise wages of workers making more than $15 in order to attract and retain employees.
    • All told, raising the minimum wage to $15 by 2024 would directly or indirectly lift wages for 39.7 million workers, 26.6 percent of the wage-earning workforce.
    https://www.epi.org/publication/rai...would-lift-pay-for-nearly-40-million-workers/
     
  22. 2ndclass289

    2ndclass289 Newly Registered

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    The problem is ALL companies will raise cost of goods and labor eliminating any benefit of the wage increase.
     
  23. Distraff

    Distraff Well-Known Member

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    Biden has only two years before the mid-terms come up and he possibly loses either the house or Senate. So he has a short window to implement his campaign promises. So politicians will put things in their bill they view as good in the long term, like a tax cut or a minimum wage increase, even if its a bad thing to do in the short term.
     
  24. RickJay

    RickJay Banned

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    Repeating more often doesn't make it true.
     
  25. RickJay

    RickJay Banned

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    And for some reason the right thinks this is a terrible thing.
     

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