just lol @ brainwashed retards against raising the minimum wage

[YWOC]

http://inequality.org/minimum-wage/

The Minimum Wage Is Stuck at $7.25; It Should Be $21.16 — or Higher

America’s minimum wage was raised to $7.25 per hour on July 24, 2009. It’s still there. Unlike almost all other federal benchmarks, the minimum wage is not updated for inflation.
The minimum wage reached its (inflation-adjusted) historic high in 1968, when it was raised from $1.40 to $1.60 per hour. Adjusted for inflation using the BLS online inflation calculator that would come to $10.55 per hour in 2012 dollars.
That $10.55 figure is the focus of a nationwide campaign organized by the National Employment Law Project (NELP). In today’s political climate it would certainly be a major accomplishment to achieve a $10.55 minimum wage. But $10.55 is still far too low.
Using 1968 as our benchmark for the minimum wage implies that low-wage Americans today should be making just as much as low-wage Americans were making 44 years ago. That benchmark is — frankly — ridiculous.
Can you imagine Americans of 1968 settling for a minimum wage standard of living that had been set based on 1924 standards? What about 1880 standards? At some point we should expect low-wage workers to start living better than they used to. Don’t low-wage Americans deserve to live in the 21st century, not the mid-20th?
Can you imagine Americans of 1968 settling for a minimum wage standard of living that had been set based on 1924 standards? What about 1880 standards? At some point we should expect low-wage workers to start living better than they used to.
A better way to update the minimum wage is to benchmark it to personal income growth in the economy as a whole.
Per capita real personal income excluding current transfer receipts — that is, the personal income earned in the economy, excluding Social Security and other government programs, adjusted for inflation — has grown by 100.6% since 1968.
In other words, the NELP has it too low — by half. If our standard for minimum wages had kept pace with overall income growth in the American economy, it would now be $21.16 per hour.
Yes, had the US income distribution and US standards of decency remained exactly what it was in 1968, the minimum wage would now be $21.16 per hour.
I grew up on the idea that America stood for progress, continual progress toward a better society. Even a $21.16 minimum wage wouldn’t represent progress. It would mean socially standing still, just with better technology and higher productivity levels. Progress would mean a minimum wage in excess of $21.16 per hour.
Of course, a minimum wage in the mid-20s is politically inconceivable. But it is technically, economically, and socially realistic. The only reason we can’t have it is the greed of those at the top and the intransigence of those at the near-top. The only reason we can’t have it is that we don’t want it.
We are not the Americans of 1968.

b-b-b-but how am I supposed to feel superior making $16/hr at my retail management job if some burger flipper is making only $1 less than me?

b-b-b-but that burger flipper is getting paid enough to live and they're not even doctors!!! how are these poor multi-billion dollar corporations supposed to sustain themselves

Late stage capitalism is a cancer that turns the lower class idiots against each other.

[IanPhelps]

want a better wage?

work harder.

deal with it.

[YWOC]

want a better wage?

work harder.

deal with it.

typical braindead retard misc response #1. congrats

[cookiefiend]

Fking lol at $21.16, if it goes up to that everything will have to go up in cost and they will end up in the same place.

[YWOC]

Fking lol at $21.16, if it goes up to that everything will have to go up in cost and they will end up in the same place.

typical braindead retard misc response #2. congrats

[cookiefiend]

typical braindead retard misc response #2. congrats

Explain how it's wrong then.

[4everalone]

Capitalism

Free market

Supply/demand

Market pricing

Read up on those subjects boyo. No one is worth more than what someone is willing to pay them.

[criminal_manne]

It probably should be a bit higher but lol at $21. How bout no, take an economics class please. Also no one is supposed to make a career out of a minimum wage job, it's meant for high school kids who want a summer job. If someone can't find a job that pays more than minimum wage than nothing will help them because they are borderline retarded.

[JB05]

Late stage capitalism is a cancer that turns the lower class idiots against each other.

Please, tell us more about how awful capitalism is

[YWOC]

The idea is, if you wage slave hard enough, you to can one day own wage slaves!
Most people are all just temporarily embarrassed millionaires and they want to be able to hire people for poverty wages when they get there.

[Vincegotyou]

It's sad to see people walking in the street campaigning for something that will make some of them lose their job. RIP cashiers, hello self serve machine

[IPoopStandingUp]

Make cheap labor illegal? No skin off my back but teenagers, senior citizens, and full time workers looking for a second job might be disappointed.

[Ikeman83]

Why $21.06, OP? Why have only a minimum wage?

Let's end poverty nao and have everyone earn $1,000,000/year. Surely this will be positive.

[YWOC]

Misc is honestly the dumbest forum I've ever read I think. None of you guys even arguments. You just regurgitate the same right-wing cliches over and over again even when there's hard proof right below your noses

[nutsy54]

b-b-b-but how am I supposed to feel superior making $16/hr at my retail management job if some burger flipper is making only $1 less than me?

b-b-b-but that burger flipper is getting paid enough to live and they're not even doctors!!! how are these poor multi-billion dollar corporations supposed to sustain themselves

Late stage capitalism is a cancer that turns the lower class idiots against each other.

Cliffs: An OP based on fictional strawman claims, with responses based on personal insults which avoid the actual topic. Sad little troll.

[Ikeman83]

Back to reality, if you're trying to live off of minimum wage, you're a moron.

[GloriousSnatch]

Wages going up = prices going up

[YWOC]

Cliffs: An OP based on fictional strawman claims, with responses based on personal insults which avoid the actual topic. Sad little troll.

Nice job even reading the article. Get off the fukking misc grandpa

[cookiefiend]

Misc is honestly the dumbest forum I've ever read I think. None of you guys even arguments. You just regurgitate the same right-wing cliches over and over again even when there's hard proof right below your noses

Your only argument is name calling. I asked you to explain why I'm wrong and apparently you can't.

[pogioli4]

you do realize if they raise min wage companies will just respond by raising prices as well as more than likely laying people off, don't you?

Edit: and for those who say prices won't need to increase, it's not a factor of need.

[YWOC]

Your only argument is name calling. I asked you to explain why I'm wrong and apparently you can't.

What exactly is your argument again? that prices will go up slightly if minimum wage is increased? guess what people might actually be able to buy shiit if they are making a wage they can live on.

[YWOC]

America is the richest country in the world and you guys think its corporations can't afford to pay higher than a $7.25 minimum wage. fukkin lol my sides. You are all so indoctrinated it's hilarious

[Lightsout13]

Just lol at minimum wage. You people need to be repilled on basic income.

********************/basic-income/woul...5e7#.bxhm27oml

The money for a basic income guarantee would be already existing money circulated through the economic system. It would not be new money, just money shifted from one location to another. This means that the value of each dollar has not changed. The dollar itself has only changed hands.

It is also important to note the observation that even when money supply is vastly expanded, the effects on prices need not be extreme. For example, the Fed’s quantitative easing added over four trillion new dollars to the U.S. money supply, and the results were not enough inflation, as defined by the Fed.

“But even with the trillions of dollars pumped into the economy, the Fed has been perpetually unable to get inflation up to the 2 percent level it aims for, except for the occasional brief period. There is good news in that predictions by many Fed critics that Q.E. would unleash vicious hyperinflation have come nowhere close to materializing. But neither has it been enough for the Fed to reach its self-imposed goal. In an economy trying to get out from under an overhang of debt, where excessive unemployment is the leading problem, too-low inflation can be deeply problematic and hold back growth. Q.E. has not been powerful enough to generate as much inflation as the Fed says it wants.”

So even though basic income would not be printing new money for everyone, even if it were, inflation would not be a guaranteed result.

With that understood, to then understand how much we should actually fear rising prices as a result of redistributing existing money from one place to another instead of printing new money requires some studying, but the short answer is that capitalism not only still exists with basic income, it is enhanced.

By enhanced, I mean there is growing evidence from where basic incomes have been actually tried that it increases entrepreneurship. We also have actual examples of partial basic incomes, that we can examine for inflationary evidence.

Aside from this evidence, we also need to understand how increased demand leading to higher prices isn’t as simple as we might think is is, and how when it comes to housing prices, in a future where everyone has basic incomes, we are likely to see some very interesting market adjustments. Meanwhile, fears involving unearned income and increased velocity require a closer examination.

Because of all the above that needs to be understood in order to more fully examine the question of basic income and inflation, I have split off the above information into four separate smaller articles. Let’s call them Exhibits, A, B, C, and D.

If you wish to learn more about each collection of evidence, just read the attached sub-article before moving on. Or you can just keep on reading.

[Water_American]

Most minimum wage workers spend their day avoiding their actual work and smoking bowls in the parking lot. That's just a fact. They overwhelming majority suck at their jobs. They can barely function as humans. Sure, there's a small percentage who actually work hard, but they end up making at least slightly more in the long run anyway. I just don't like stupid and lazy people. They annoy me. I don't think they should make a living wage for sucking at everything that they do in life. I think they should fail for being failures.

[YWOC]

Just lol at minimum wage. You people need to be repilled on basic income.

********************/basic-income/woul...5e7#.bxhm27oml

The money for a basic income guarantee would be already existing money circulated through the economic system. It would not be new money, just money shifted from one location to another. This means that the value of each dollar has not changed. The dollar itself has only changed hands.

It is also important to note the observation that even when money supply is vastly expanded, the effects on prices need not be extreme. For example, the Fed’s quantitative easing added over four trillion new dollars to the U.S. money supply, and the results were not enough inflation, as defined by the Fed.

“But even with the trillions of dollars pumped into the economy, the Fed has been perpetually unable to get inflation up to the 2 percent level it aims for, except for the occasional brief period. There is good news in that predictions by many Fed critics that Q.E. would unleash vicious hyperinflation have come nowhere close to materializing. But neither has it been enough for the Fed to reach its self-imposed goal. In an economy trying to get out from under an overhang of debt, where excessive unemployment is the leading problem, too-low inflation can be deeply problematic and hold back growth. Q.E. has not been powerful enough to generate as much inflation as the Fed says it wants.”

So even though basic income would not be printing new money for everyone, even if it were, inflation would not be a guaranteed result.

With that understood, to then understand how much we should actually fear rising prices as a result of redistributing existing money from one place to another instead of printing new money requires some studying, but the short answer is that capitalism not only still exists with basic income, it is enhanced.

By enhanced, I mean there is growing evidence from where basic incomes have been actually tried that it increases entrepreneurship. We also have actual examples of partial basic incomes, that we can examine for inflationary evidence.

Aside from this evidence, we also need to understand how increased demand leading to higher prices isn’t as simple as we might think is is, and how when it comes to housing prices, in a future where everyone has basic incomes, we are likely to see some very interesting market adjustments. Meanwhile, fears involving unearned income and increased velocity require a closer examination.

Because of all the above that needs to be understood in order to more fully examine the question of basic income and inflation, I have split off the above information into four separate smaller articles. Let’s call them Exhibits, A, B, C, and D.

If you wish to learn more about each collection of evidence, just read the attached sub-article before moving on. Or you can just keep on reading.

Trust me I'm fully on board with basic income and realize it's the only hope for this Earth. We aren't even close to that though, most these idiots think a $7.25 wage is fair "cuz u just need to work harder". First we need to fukking get everyone on a livable wage before we start with the basic income talk.

[IPoopStandingUp]

So if a high school kid doesnt have any skills but wants to earn some money,and an auto shop is willing to pay him ten bucks an hour to drive cars into the bay and take out the trash, or a barber is willing to pay him to sweep hair off the floor and wash the windows, this arrangement should be against federal law? Just lol at me for thinking you were serious for even a second

[Arsenal01]

OP just LOL @ bringing a political debate to miscers


they dont think for themselves...they just jump on the bandwagon

[Water_American]

OP just LOL @ bringing a political debate to miscers


they dont think for themselves...they just jump on the bandwagon

Right. Only the people who agree with your opinions aren't jumping on a bandwagon. LOL @ you for thinking there aren't 2 bandwagons and that you aren't a part of one of them. You are hilarious.

[Ironmanlet]

Please, tell us more about how awful capitalism is

>paid product advertisements tell you what medicines you should be taking
>people eat billions of dollars worth of chemicals that should not even be considered 'food' everyday
>people who make next to nothing and can't afford chit line up by the millions to have the new 700 dollar thing just because


now I get that personal responsibility needs to be taken into consideration, but major corporations blatantly exploit natural human tendencies, and the population pays the price in the form of their health, financial situation, standard of living and so on.


I am in no way supporting communism (socialism itself is not a bad thing, it is just a buzzword people use to make something appear bad), but our modern capitalism has some very significant flaws.

Also, please don't post framed pictures with words on them and use that as an argument. It is really unbecoming.

[cookiefiend]

What exactly is your argument again? that prices will go up slightly if minimum wage is increased? guess what people might actually be able to buy shiit if they are making a wage they can live on.

Yes. If minimum wage workers at every factory and warehouse more than double item wholesale prices on everything will rise a lot. Then since the minimum wage workers at supermarkets etc will also need over double the wage their mark up on products will go up a lot to. Utilities will go up because every minimum wage call centre workers wages will also over double etc.
They may have more money in numbers, but because prices will have gone up they will only be able to pay for the same amount of stuff as before.

Not to mention how many of them will be laid off as it becomes cheaper to use machines.

Please explain how this is wrong.

Inb4 your argument is hurrdurr retard

Also, this:

So if a high school kid doesnt have any skills but wants to earn some money,and an auto shop is willing to pay him ten bucks an hour to drive cars into the bay and take out the trash, or a barber is willing to pay him to sweep hair off the floor and wash the windows, this arrangement should be against federal law? Just lol at me for thinking you were serious for even a second