Obama just promised to raise the minimum wage

[Socalstylz88]

As an employer of minimum wage employees I would let go of the least efficient ones and give those that remain more work to do.

Anyways all this does is cause more inflation, if you have to pay your employee mores it only makes sense to charge customers more.

That speech was garbage.

[okcupidswag]

nope

did arnold say that quote in your sig? it is very cool

edit: no one in here has a clue what they're talking about

[ShaneDS]

source

Economics 101 you idiot

[getbig_ttt]

As an employer of minimum wage employees I would let go of the least efficient ones and give those that remain more work to do.

Anyways all this does is cause more inflation, if you have to pay your employee mores it only makes sense to charge customers more.

That speech was garbage.

How does minimum wage stop this?

[stealth_swimmer]

brb those working on minimum wage cant afford dick
brb stop crying

The minimum wage *shouldn't* be much if it exists at all...

Even on economic grounds of monopsony - a situation in which there is only a single employer - the case would only be realistic *maybe* in some really small towns, but not in the nation as a whole. Therefore, any minimum wage legislation should, if done at all, be done at the city level...not the national level, not the state level, not even the county level (unless there were only a single employer in an entire county)

[7rmr]

Sorry, but to argue that an increase in minimum wage will lead to inflation is pretty ridiculous.

Lets make this simple:

People in this thread argue 2 things in general

1. It will lead to an increase in inflation
2. It will lead to a decrease in jobs

Clearly both those things cannot happen. If minimum wage decreases employment (which it doesn't) then how would there be inflation? According to the misc there would just be fewer people with slightly more money leading to no net increase in money.

Moving beyond those two arguments, the increase in minimum wage is likely to be relatively minor and considering how little money those who make minimum wage have control over the increase in the total supply of money/purchasing power/anything will be so small it is absurd to argue it would increase anything except for an increase in purchasing power/quality of life for those on minimum wage.

No one on the misc complains that the increase in CEO salaries will spark inflation so I'm not sure why an increase in minimum wage would do it.

[Socalstylz88]

How does minimum wage stop this?

Because more human resources = more production

You can always find people willing to work very hard and come close to equaling two people in one at a saving.

[Teh-Gr8-Ze-brah]

companies will be focusing on more efficient strategies, perhaps even more cases of cutting corners in the delivered product.


although i can only see this happening in really tiny businesses.

[RyGla]

this won't help at all.
the only way it would help is if the price of living went up first and then increased min wage to match it.(still create inflation tho)

[GixxerSixxer]

[HMFIC_BROWSIN]

I'm proud of you misc for understanding why raising min wage accomplishes nothing.

[Misc_Lurker]

I'm proud of you misc for understanding why raising min wage accomplishes nothing.

we're all ceo's why wouldn't we know

[FIREnICE]

Lol at your poverty wages US brahs

I earn 28 dollars an hour doing deliveries.

yeah and it's cheaper for you to buy a flight to the US to purchase microsoft software, than it is to buy it in australia.

[stealth_swimmer]

lol at all the idiots in this thread who think they understand economics.

derp derp raising wages increases unemployment derp derp. Yeah I'm sure its that simple. stay safe.

Not raising wages - raising them past the market clearing point (you can't raise them above the marginal product of labor). The thing is that not everyone has the same skill level, and thus not everyone has the same productivity. Thus, any minimum wage harms low skilled (the poor) the most by making it harder for them to find jobs(people with a language barrier, high school dropouts, possibly high school grads, minorities and young people in general). People with higher paying jobs that aren't affected by it don't need to worry (other than possibly higher prices at certain businesses). Employers also will find it more expensive to employ people, and many will try to wring more work out of existing employees.

This typically hits small businesses harder as it's a larger portion of their income. They may have to lay off employees or hire fewer workers in the future, while larger businesses can more easily afford minimum wage hikes as they often are already paying above the minimum. The result is that larger businesses are favored over time and can become entrenched, protected somewhat from the full effects of market competition(which sometimes can also have the secondary effect of making them less responsive to the will of customers and workers).

[ImpulsePainter]

Sorry, but to argue that an increase in minimum wage will lead to inflation is pretty ridiculous.

Lets make this simple:

People in this thread argue 2 things in general

1. It will lead to an increase in inflation
2. It will lead to a decrease in jobs

Clearly both those things cannot happen. If minimum wage decreases employment (which it doesn't) then how would there be inflation? According to the misc there would just be fewer people with slightly more money leading to no net increase in money.

From my understanding; those two things have been happening over the past 4 years.

[7rmr]

From my understanding; those two things have been happening over the past 4 years.

Well actually the rate of inflation has not increased. But, to be more specific maybe the second last sentence should have read "both of those things cannot be the outcome of the single act of raising the minimum wage"

[iron_monster]

Lol at your poverty wages US brahs

I earn 28 dollars an hour doing deliveries.

And you pay for it by everything in Aus being ridiculously more expensive than the US, brb $17 for a pack of cigs... No thanks Joey

[my.self]

dam, i was planning on finding a job in about 3 months or so. will this limit my chances?

[philpeter123]

money is just retarded in general. imagine if people just worked to make cool **** and to better the world and peoples lives around them, MAN THATS JUST SO ****ED UP ISN'T IT? NO POINT IN THAT RIGHT? sad ****ing world we live in.

[kiwiguy68]

do you dumb phucks understand supply and demand? I can excuse it because of the age of some of you, but misc...I am disappoint

Forced higher wages = less employment

[THE-BEEF]

watch and learn from the masters

[ejeyol]

So we're in this nasty recession. Normal, everyday Americans are struggling to get by. People aren't making enough money to do the things they want.

HOW DO WE SOLVE THIS?

I believe the answer is simple: raise the minimum wage to $50/hour.

Now I know that some of you Neanderthalic, knuckle-dragging mouth-breathers might object to this. But if you do then you're either a flat-out MORON or a corporate shill. Look at the facts:

(1) People don't have a lot of money
(2) If the minimum wage is increased to $50/hour, these people will have more money

It's that ****ing simple, ****ing idiots. I can't believe I have to explain this **** to you ****ing Jesus-loving, Fox-watching, racist, xenophobic, gun-toting jingoists. People who own and run businesses are rich *******s, and it's time we gave them a big "**** you" for having money by taking it from their greedy hands and giving it to the people who need it.

Any conservatard that tries to argue with this is just upset that under this plan we'd be giving blacks and other minorities the money previously being hoarded by greedy white capitalist corporatist ****s. Racists.

I think what you fail to realize is that money can't just be created, SOMEBODY has to pay for it, ALWAYS.

And so people get pissed when they have to pay for other people who in general don't work as hard as them. Redistribution of wealth from the middle/wealthy to the poor.

[craig84]

watch and learn from the masters

[youtube]2jv1Zae0sg/youtube]

[youtube]ca8Z__o52syoutube]

[youtube]d_ywk9-g5eQ[/youtube

came in to post this. president makes speech to do something that nobel laureates and other renown economists think doesn't even do anything to fix the problem the people arguing for it are trying to fix.

[7rmr]

I think what you fail to realize is that money can't just be created, SOMEBODY has to pay for it, ALWAYS.

And so people get pissed when they have to pay for other people who in general don't work as hard as them. Redistribution of wealth from the middle/wealthy to the poor.

Wealth is redistributed in beneficial ways all the time. This should be no different. You can complain all you want but society benefits from a redistribution of wealth.

Edit: Furthermore, this is an instance where there would likely be a net benefit. Poor people have a higher propensity to spend than rich. So the economic multiplier effect from an increase in minimum wage will be larger than leaving that money in the hands of someone wealthier. The net impact to the economy will be positive.

[MasterShakeZula]

I think what you fail to realize is that money can't just be created, SOMEBODY has to pay for it, ALWAYS.

And so people get pissed when they have to pay for other people who in general don't work as hard as them. Redistribution of wealth from the middle/wealthy to the poor.

I think you got trolled.

[craig84]

Wealth is redistributed in beneficial ways all the time. This should be no different. You can complain all you want but society benefits from a redistribution of wealth.

i'll take the word of economic geniuses who say it doesn't work

[frankenstein78]

So we're in this nasty recession. Normal, everyday Americans are struggling to get by. People aren't making enough money to do the things they want.

HOW DO WE SOLVE THIS?

I believe the answer is simple: raise the minimum wage to $50/hour.

Now I know that some of you Neanderthalic, knuckle-dragging mouth-breathers might object to this. But if you do then you're either a flat-out MORON or a corporate shill. Look at the facts:

(1) People don't have a lot of money
(2) If the minimum wage is increased to $50/hour, these people will have more money

It's that ****ing simple, ****ing idiots. I can't believe I have to explain this **** to you ****ing Jesus-loving, Fox-watching, racist, xenophobic, gun-toting jingoists. People who own and run businesses are rich *******s, and it's time we gave them a big "**** you" for having money by taking it from their greedy hands and giving it to the people who need it.

Any conservatard that tries to argue with this is just upset that under this plan we'd be giving blacks and other minorities the money previously being hoarded by greedy white capitalist corporatist ****s. Racists.

Literally laughing out loud. That was creative. That deserves a troll of the month award!!! Well done, sir. I bow down to your master trolliness.

[fsuboy1411]

I understand increased minimum wage leading to increased unemployment, but how does it raise the cost of living?

[7rmr]

i'll take the word of economic geniuses who say it doesn't work

Not gonna link the articles because you wont read them so I'll just say what I have already said

Wikipedia "minimum wage" then look at the "Empirical Studies" section. Apparently the research agrees with me.

[iron_monster]

I understand increased minimum wage leading to increased unemployment, but how does it raise the cost of living?

Cost more to create product= product costs more to get same net