View Poll Results: Should the Federal Minimum Wage be Raised?
No, those jobs are for teenagers and 2nd incomes.
64
62.75%
Yes, to about $10/Hr.
18
17.65%
Yes, to about $15/Hr.
16
15.69%
Yes, to $_____/Hr.
4
3.92%
Voters: 102. You may not vote on this poll
Minimum Wage - Should It Be Raised? How Far?
05-21-2014, 03:21 PM
#25
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I was referring more to the finance industry as a whole. Those firms were given a loaded gun in the form of "economy boosting deregulation", at which point their greed lead them to use that gun to shoot lots of people.
Im not putting all the blame on our finance industry either, Europe (the UK in particular) is responsible as well.
The people in charge do not act with the future in mind. Their focus, as they have been taught, is to make money for the shareholders.
Theyre too shortsighted to see the importance of building wealth for all the stakeholders associated with an organization (customers, suppliers, employees, the government), they just do whatever they can to get their 4th private jet loaded with cocaine.
If someone isnt worth 10 bucks an hour in 2014 dollars then they are not working hard enough. If they want to work they will have to stop sucking at their job.
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05-21-2014, 03:33 PM
#27
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Unpaid internships have been made illegal in many places due to rampant exploitation.
Its something that should be okay, but isnt because people are bastards.
Like I said, its a problem with business ethics. Until everybody can learn to not screw people, regulation is required.
Its something that should be okay, but isnt because people are bastards.
Like I said, its a problem with business ethics. Until everybody can learn to not screw people, regulation is required.
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05-21-2014, 03:37 PM
#28
Luckily I'm an accountant so I would still have great work prospects because someone has to audit those companies even when they declare bankruptcy
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05-21-2014, 03:53 PM
#30
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Or, put another way, someone should not be permitted to work below a certain minimum threshold of productivity, effectively creating a barrier to entry for those extremely unskilled persons who wish to enter the labor force for the first time (eg: recent immigrants with poor English language skills and no vocational training at all) or for those who are employed in positions which are, to some extent, offered principally as a form of corporate benevolence (eg: retired persons working as door-greeters at WalMart.)
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05-21-2014, 04:06 PM
#33
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Those people are victims just as much as anybody. Victims of predatory banks, the hype surrounding the bubble, and their own ignorance.
I was referring more to the finance industry as a whole. Those firms were given a loaded gun in the form of "economy boosting deregulation", at which point their greed lead them to use that gun to shoot lots of people.
Im not putting all the blame on our finance industry either, Europe (the UK in particular) is responsible as well.
The people in charge do not act with the future in mind. Their focus, as they have been taught, is to make money for the shareholders.
Theyre too shortsighted to see the importance of building wealth for all the stakeholders associated with an organization (customers, suppliers, employees, the government), they just do whatever they can to get their 4th private jet loaded with cocaine.
What labor is worth $5 an hour? A mentally disabled grocery bagger is worth more than that.
If someone isn't worth 10 bucks an hour in 2014 dollars then they are not working hard enough. If they want to work they will have to stop sucking at their job.
I was referring more to the finance industry as a whole. Those firms were given a loaded gun in the form of "economy boosting deregulation", at which point their greed lead them to use that gun to shoot lots of people.
Im not putting all the blame on our finance industry either, Europe (the UK in particular) is responsible as well.
The people in charge do not act with the future in mind. Their focus, as they have been taught, is to make money for the shareholders.
Theyre too shortsighted to see the importance of building wealth for all the stakeholders associated with an organization (customers, suppliers, employees, the government), they just do whatever they can to get their 4th private jet loaded with cocaine.
What labor is worth $5 an hour? A mentally disabled grocery bagger is worth more than that.
If someone isn't worth 10 bucks an hour in 2014 dollars then they are not working hard enough. If they want to work they will have to stop sucking at their job.
Government regulation may well NOT be a solution simply because the Gov. was in many respects as much or more culpable in all that mess than any one private org.
The recent market events are a prime example of that. Under Clinton and with the cooperation of many so-called conservatives, banks were required to loan to people fitting xyz criteria as a certain percentage of their loan portfolios. Fannie and Freddie (quasi-gov) securitized those risky assets and thus exposed all of us with cash in stocks or bonds to their inherent flaws. You know the rest.
Anyway, my point here is that the Gov. can cause damage with the best of the corporate types. The guy who was all about getting rid of Glass-Stegal - Summers - was on the short list to run the Fed before Yellen got the job. Look up Glass-Stegal sometime.
So with the government we the idiotic people put in place, we stand a truly excellent chance of getting pretty idiotic regulations. And that can truly destroy lives.
Personally, I vote 10 dollar min wage. The hard reality is that keeping it at the current level when we are probably about to get nailed with inflation is going to squeeze many millions of people. And millions getting poorer will screw us all. We are pretty perilously close to really creating a great enlarged lower class that basically does not do much for the economy and a higher min wage will do a lot of avoid that without much pain on profits. I'm in favor of an increase simply because its probably going to hurt less than the alternative.
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05-21-2014, 04:10 PM
#34
I have no problem with a workforce banding together to protect their own interests. In fact, if you are truly undervalued and committed to being compensated what you're worth then this should not even be that difficult. However, that would mean you would actually have to be providing good value or someone else in line is just going to step up an take your place for as much or less than you were getting paid.
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05-21-2014, 04:24 PM
#36
Unions...LOL...
Eliminating the minimum wage does many things.
It drops real wages.
It drops real prices.
It raises import prices relative to domestic prices.
It creates domestic jobs in lieu of import jobs.
It creates demand for labor.
It raises real wages relative to real prices.
It provides employers the option to pay their employees too little.
It provides employees who are paid too little the necessary motivation to start a competing company and hire domestic employees at a "fair" wage, competitive with the labor rates + shipping of the corporation who paid them too little.
Let me tell you this: If I was the head of a mega corporation, I would be a strong supporter of raising the minimum wage. A higher minimum wage indirectly creates powerful barriers to entry from competition. I can raise my prices to reflect the increase in domestic labor cost, but my foreign labor cost will remain unchanged.
The problem is not with "minimum wage"; the problem is that we are well into our era of entitlement as a country. We're at a point where we think that everyone should be entitled to single family housing, and everyone should be entitled to food, and everyone should be entitled to car, and everyone should be entitled to healthcare, and everyone should be entitled to a smartphone, and, and, and....
If we were to recognize the false entitlements we have cast upon ourselves, we would quickly realize that minimum wage is not the issue. Here's a quote that is NOT in the Declaration of Independence:
Eliminating the minimum wage does many things.
It drops real wages.
It drops real prices.
It raises import prices relative to domestic prices.
It creates domestic jobs in lieu of import jobs.
It creates demand for labor.
It raises real wages relative to real prices.
It provides employers the option to pay their employees too little.
It provides employees who are paid too little the necessary motivation to start a competing company and hire domestic employees at a "fair" wage, competitive with the labor rates + shipping of the corporation who paid them too little.
Let me tell you this: If I was the head of a mega corporation, I would be a strong supporter of raising the minimum wage. A higher minimum wage indirectly creates powerful barriers to entry from competition. I can raise my prices to reflect the increase in domestic labor cost, but my foreign labor cost will remain unchanged.
The problem is not with "minimum wage"; the problem is that we are well into our era of entitlement as a country. We're at a point where we think that everyone should be entitled to single family housing, and everyone should be entitled to food, and everyone should be entitled to car, and everyone should be entitled to healthcare, and everyone should be entitled to a smartphone, and, and, and....
If we were to recognize the false entitlements we have cast upon ourselves, we would quickly realize that minimum wage is not the issue. Here's a quote that is NOT in the Declaration of Independence:
that all men are created equal, that they are endowed by their Creator with certain unalienable Entitlements, that among these are Life, Liberty and the pursuit of Happiness
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05-21-2014, 04:28 PM
#37
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Why do you believe that the people making the regulation are altruistic and not the same people with the same business ethics that run businesses? I will handily agree that people are greedy. That is true of business owners and politicians alike.
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05-21-2014, 04:32 PM
#38
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Free Market principals are great. They are basically the only way we will ever have a sustainable civilization which is fine because at the end of the day they inevitably win regardless of what silly humans put on paper.
What about situations where we have more supply (labor) than demand (jobs)? Well, supply is incredibly cheap. And some does not get utilized.
Just one thing, you are talking about people. And joking aside, there are decent non-lazy human beings who don't have skills to set them above millions of others and while they are willing to work hard, their skills are common. So they get screwed. And it is not only within our power to mitigate that somewhat with a min wage, its also in our interest. That cash flows through the economy. And less desperate people usually means less crime, less cash incarcerating people, etc.
My opinion and the opinion of others who crunch numbers is that we can raise min wage and improve the economy as a result.
What about situations where we have more supply (labor) than demand (jobs)? Well, supply is incredibly cheap. And some does not get utilized.
Just one thing, you are talking about people. And joking aside, there are decent non-lazy human beings who don't have skills to set them above millions of others and while they are willing to work hard, their skills are common. So they get screwed. And it is not only within our power to mitigate that somewhat with a min wage, its also in our interest. That cash flows through the economy. And less desperate people usually means less crime, less cash incarcerating people, etc.
My opinion and the opinion of others who crunch numbers is that we can raise min wage and improve the economy as a result.
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05-21-2014, 04:42 PM
#40
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7.xx does not get you out of shitsville for 95% of the country.
Interesting read on impact of min wage.
http://wrap.warwick.ac.uk/1560/1/WRA...t_twerp630.pdf
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