Obama wants to push Min wage up to $9 bucks per hour

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Author: [Politics] Topic: Obama wants to push Min wage up to $9 bucks per hour
bowlslit PM bowlslit
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Posted: 2/13/2013 3:46:28 PM
"If you work full time, you shouldn't be in poverty," he later added, noting his proposal Tuesday night to increase the federal minimum wage to $9 an hour.

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Is he deliberately trying to increase inflation and devaluing the dollar further?

Or is he just trying to eliminate the 'value menu' at fast food joints?
bowlslit PM bowlslit
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Posted: 2/13/2013 4:02:36 PM
Minimum wage jobs are intended for students and entry level positions. Nothing more.

I'll say this again for DJbrow to have a deja vu:

"If you only aspire to gain a minimum wage job then you are a complete loser"
bunny651 PM bunny651
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Posted: 2/13/2013 4:51:14 PM
Rasing the minimum wage is just a bad idea.
14daroad PM 14daroad
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Posted: 2/13/2013 5:09:49 PM
Why should there be a federal minimum wage at all?
bowlslit PM bowlslit
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Posted: 2/13/2013 5:16:40 PM
QUOTE Originally Posted by bunny651:

Rasing the minimum wage is just a bad idea.


Not only is it a bad idea, but it is further evidence that the community organizer hasn't got a clue about how the system works.

Maybe if he ever had to get a job in the real world he would be able to see first hand why minimum wage is for entry level workers or college students.
canovsp PM canovsp
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Posted: 2/13/2013 5:32:34 PM
It sounds good so it must be a good idea.
Just like welfare and free health care for everyone.
mattbrot PM mattbrot
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Posted: 2/13/2013 6:25:40 PM
QUOTE Originally Posted by bowlslit:



Not only is it a bad idea, but it is further evidence that the community organizer hasn't got a clue about how the system works.

Maybe if he ever had to get a job in the real world he would be able to see first hand why minimum wage is for entry level workers or college students.

I agree that it is not a good idea but...

the rest of the Obama "talk" is probably a little unnecessary.  
bowlslit PM bowlslit
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Posted: 2/13/2013 6:41:39 PM
QUOTE Originally Posted by mattbrot:


I agree that it is not a good idea but...

the rest of the Obama "talk" is probably a little unnecessary.  


Why is it unnecessary? Perhaps because he is the second Messiah? Or because it may hurt Don Juan's feelings?

Put some words together that shows why what I wrote about him is untrue please.
bowlslit PM bowlslit
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Posted: 2/13/2013 6:43:36 PM
Mattbrot don't you think its a good Idea for someone to have had at least one job in the private sector during ones lifetime?
mattbrot PM mattbrot
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Posted: 2/13/2013 6:46:54 PM
my point is that you may disagree with his policies, and I agree with you on this particular policy, but to reduce him and his past experiences as only a "community organizer with no real life experience or job experience is a little extreme.  The guy is a smart guy and no president (even GWB) gets to that spot without having some smarts and "life experiences".  

That is all I was trying to say.
mattbrot PM mattbrot
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Posted: 2/13/2013 6:48:27 PM
QUOTE Originally Posted by bowlslit:

Mattbrot don't you think its a good Idea for someone to have had at least one job in the private sector during ones lifetime?

Of course it is a good idea but I do not think that it is the end all to base a person's qualifications on.  
dl36 PM dl36
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Posted: 2/13/2013 9:35:35 PM
QUOTE Originally Posted by 14daroad:

Why should there be a federal minimum wage at all?

I agree... as a conservative, I believe that states should make decisions independently...
rick3117 PM rick3117
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Posted: 2/13/2013 10:32:56 PM
Labor = a price on production
Production+cost = cost of goods
Goods = higher cost (because of cost increases through labor price increase)
equilibrium demands that Prices increase across the board. 


Labor has a higher cost of living due to the new price increases. 
Increase the minimum wage

Welcome to the 1970's 

They tried it already, 

it completely failed. 
bowlslit PM bowlslit
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Posted: 2/13/2013 10:39:03 PM
Rick,

Would you think that its fair to say that by increasing minimum wage that in turn gives China and its products more power overall?


14daroad PM 14daroad
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Posted: 2/14/2013 9:18:54 AM

Although minimum wages do increase the incomes of some poor families, the evidence indicates that their net effect is, if anything, to increase the proportions of families with incomes below or near the poverty line. Thus, it would appear that reductions in the proportions of families that are poor or near-poor should not be counted among the potential benefits of minimum wages.

http://ideas.repec.org/p/fip/fedcwp/0412.html

djbrow PM djbrow
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Posted: 2/14/2013 4:40:45 PM
QUOTE Originally Posted by 14daroad:

Although minimum wages do increase the incomes of some poor families, the evidence indicates that their net effect is, if anything, to increase the proportions of families with incomes below or near the poverty line. Thus, it would appear that reductions in the proportions of families that are poor or near-poor should not be counted among the potential benefits of minimum wages.

http://ideas.repec.org/p/fip/fedcwp/0412.html

This argument has also been supported by the CBO and is my reason for not supporting the increase. Its net effect is about $1500 per year.

The other issue is it has little practical help for families, and more for those who are single and young...who make up a majority of the minimum wage earners. Single and young earners who want to make extra money have far more options than families.

FrontRowCenter PM FrontRowCenter
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Posted: 2/16/2013 10:09:14 AM
The market should dictate wages.  Not Government. 
FrontRowCenter PM FrontRowCenter
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Posted: 2/16/2013 10:14:09 AM
When u increase minimum wage, consumers pay more for the product, your hire less people. 
rick3117 PM rick3117
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Posted: 2/16/2013 4:58:39 PM
QUOTE Originally Posted by bowlslit:

Rick,


Would you think that its fair to say that by increasing minimum wage that in turn gives China and its products more power overall?


maybe, 

The entire idea behind any stimulus is to get the money into the hands where it can be spread around most.  Which might work if we made anything in this country. 
Unfortunately the products and goods that most people of lower socioeconomic standing, are the necessities like food (manipulated by the slave labor market), and consumer electronics (produced by slave labor).  

The simple argument is that we all agree that price fixing is wrong, left right and center we agree that the government has no authority to dictate the price of bread or milk etc.  

It is essentially a fallacy to say that Wages are anything but a PRICE on labor.  

http://www.fee.org/files/doclib/20121116_EconomicsInOneLesson.pdf

depeche2 PM depeche2
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Posted: 2/16/2013 8:58:40 PM
I think it should go up, but that's probably too high.  But why does this always come up?  They should just set it and then index it annually to inflation, in 5 cent increments .  Problem solved.  So it will go up gradually rather than sitting the same for years and then  huge increase.  Make it $8 now and index it.
thirdperson PM thirdperson
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Posted: 2/17/2013 9:23:33 AM

Refundable tax credits and guaranteed minimum income are better alternatives than minimum wage laws in targeting poverty in broader population and spreading costs instead of  concentrating costs on employers of low wage employees.

14daroad PM 14daroad
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Posted: 2/17/2013 10:35:25 AM
QUOTE Originally Posted by djbrow:

This argument has also been supported by the CBO and is my reason for not supporting the increase. Its net effect is about $1500 per year.

The other issue is it has little practical help for families, and more for those who are single and young...who make up a majority of the minimum wage earners. Single and young earners who want to make extra money have far more options than families.



I would add to your comments that the $1,500 net effect is if you're lucky enough to keep your job.

Raising minimum wages increases unemployment for min wage workers.
rick3117 PM rick3117
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Posted: 2/17/2013 2:23:53 PM
QUOTE Originally Posted by depeche2:

I think it should go up, but that's probably too high.  But why does this always come up?  They should just set it and then index it annually to inflation, in 5 cent increments .  Problem solved.  So it will go up gradually rather than sitting the same for years and then  huge increase.  Make it $8 now and index it.


There would be no equilibrium in the market.  

As the price of labor goes up across the board through mandates, management attempts to fill the gap.  Prices go up. 
Prices go up = cost of living goes up.  
Having an automatic trigger built in to the inflationary time bomb that these mandates set is just about the dumbest thing that could have been though of.  


FrontRowCenter PM FrontRowCenter
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Posted: 2/19/2013 10:08:50 AM
Labor in Los Angeles is different than labor in Tennessee.  Let the market dictate it. 
FrontRowCenter PM FrontRowCenter
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Posted: 3/20/2013 4:45:10 PM

Elizabeth Warren: Hey, why isn’t the minimum wage $22/hour?

http://www.youtube.com/watch?v=ABM0_L_5vLw

 

 

 

 

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