Would you republicans vote for a $12 minimum wage?

OK. Those workers who make less than the average wage, are below average. Seriously, how can you even dispute that? Lol

 

Post modern math. You see in post modern math, numbers can be interpreted to mean an infinite number of values.

 

Because the fact that they are paid a below average wage in no way means that they are below average workers.

 

It means they are below average from a compensation point of view, which is what this thread is about. I'm sure they are fine folks, and all.

 

If you are insinuating that wages have not kept up with rising prices, well, that emboldens the argument for a minimum wage.

 

Your argument emboldens the necessity to raise the minimum wage.

Thank you.

 

How does a 50% decrease in the cost of a washer embolden the necessity to raise the minimum wage?

 

Since 1900, inflation has risen at the rate of 2.88% per year.

Some prices decline, others rise, but incidental rises and decline are not inflation --- it's the aggregate trend that is inflation.

But, the justification for a minimum wage is to prevent corporations from paying a substandard wage. But, we need to COLA it.

 

And you have no state income tax.

 

That as well, I get the big money as I work from 10 pm to 6 am, just got home. I dont mind it a bit.

 

Not some decline. Most decline. If you were able to buy a 2021 washer in 1968 it only would have cost 77 bucks, not 188.

 

Reread my post.

 

Reread my post. I'm not confused that the decline in price from 1968 to 2021 has anything to do with inflation.

 

The idea of a minimum wage enforced by federal law is an infringement on individual rights. It is price fixing.

 

Actually, when the $1.60/hr min wage was passed the UE Rate was 3.4%. Two years later the UE Rate was 6.1%, and the US Economy went into a recession. You really call that a "successful state"?

There is a lesson to be learned by the 1968 situation that would be relevant for this situation. Let's expand our analysis back as far as 1961. In 1961. the minimum wage was raised to $1.15. That was an increase of $0.15 rate that had been in established in 1956. Two years later (1963), the rate was raised to $1.25. The rate was not raised again, until $1.40 in 1967. Through this timeframe, Unemployment rate actually dropped. (Of course the Viet Nam War/draft had some impact of the employment situation.). In 1967, the US UE Rate reached the lowest point in this trend at 3.4%. Then the min wage rate was raised to $1.60. That is when the rate had reached the saturation rate. The additional 1967 raise, could not be sustained by the labor markets. It cause a reversal of trend that cause the economy to spiral downward to the 1970 recession. (No, I am not blaming the 1970 recession solely on the min wage increase, but it definitely was a contributing factor.) The lesson that we should learn from this is that there is only so much that markets can stand before they reach a breaking point.

Given the current economic situation, this is not a good time to add more straws to the camel's (market's) back. Too many impediments to the recovery could delay it, or could cause it to spiral downward. This is the wrong time to be changing the system. The Government should be looking at getting people back to work, and not giving them pay raises. But the problem that the DNC is facing is that many of those that will be forced to go back to work will face a reduction of pay.. Not reduced from what they were making when they actually were working, but from what the Government was paying them to sit at home. So, the DNC will be facing a loss of voter shares about the time of the mid-term elections.

The economy is already facing immense pressures in the wake of the pandemic. Now, you are talking about adding the additional pressure of raising wages beyond the tipping point at the same time. That is nothing short of irresponsible. Between 1956 and 1968, the min wage rate was increased a total of 60%. The proposed bill would raise min wage by 31% on the day it is passed. All told, the bill will more the double the minimum wage in just four years. But it does not stop there. The bill also calls for an end to lower wages for employees making tips.

This is a great bill if you hate the US, and want to break its economic back. Because that is all it will do. This looks to me to be one more attempt at STORM, and the Cloward-Piven strategy. This time to drive people into the Social Services by increasing unemployment. The real proof of this will be if the DNC supports Unemployment help when the economy collapses.

 

Yes, we went from a democratic president to a republican president. From 1961 to 1969 we had low unemployment, and, adjusting for inflation, MW was about $10. In 1969 - 70, we had a mild recession due to the fed tightening credit, raising interest rates, but the recession was mild. I recall those years and I don't recall it being noticeable at all. Later in the 70s, we had two oil cartel crunches, so you can hardly blame the MW for that.

To say 'you think it is a contributing factor is to say you really don't know if it is or it isn't. The fact of the matter is that you do not. Fed policy, far more than a reasonable MW, is far more likely to cause recessions, booms and busts, than anything else.

Most cities are paying the '68 equivalent of $10 an hour, anyway, the fed minimum just prevents any exploitation, should any corporation be tempted, like walmart (I'm not backing $15, I think that is too high, unless COLA greenlights it ).

If someone is paid substandard wages, they go on public assistance, and it winds up costing society more than if the corporation paid them a livable wage in the first place. I feel that MW should be COLA'd. Not arbitrarily raised to $15 in four years.

 

Sorry but you don't have the right to treat people like trash.

 

You are confusing 1970 with the '70 decade. In 1970 (Just three years after raising the Minimum Wage to $1.60), the Unemployment jumped from 3.4% in 1969 to 6.1% in 1970. Yes, that was the year after Nixon took office, but according to liberals, and I have know doubt that many liberal economists have blamed Nixon for that the 1970 Recession. The fact is they can not support that claim. Nothing that happened during Nixon's first year in office can be shown to have any factor at all.

That recession was bad enough to raise unemployment from 3.4% in 1969 to 6.1% in 1970. I remember that timeframe. I was living in Taylor Parks, MI just outside of Detroit. I turned nine years old that year. In the years ending the 60's, we had a family tradition of meeting in the basement of Fridays after my dad got off work. We would eat carryout, drink Faygo soft drinks and watch Partridge Family and Brady Bunch of a black and white TV. I remember the recession, because those Friday extravagances had to end. We had to cut them back to once a month. Assuming what you claim is true and you lived through that timeframe, if you did not notice it, then you were born with a silver spoon in your mouth or was still soiling your diapers.

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What I said was:
"No, I am not blaming the 1970 recession solely on the min wage increase, but it definitely was a contributing factor."

I am not an economist by any stretch of the imagination. I have never claimed to be one, and judging from your posts, you aren't either. I have worked in the Trucking Industry as an accident investigator. I tend to look at things in that manor. When investigating an accident, we look for a Primary contributing factor, and secondary contributing factors. By claiming something is a "contributing factor", I am saying that it impacted the situation making it more likely to have happened, or sped up the process.

As I pointed out before, there were many factors that came together to cause the recession. I used the Viet Nam war as an example of another contributing factor. The fact is there are too many additional factors to call the Min Wage Raise in 1968 as a Primary Contributing Factor, but it is definitely at least a Secondary Contributing Factor. Got that Skippy?

So, are companies going to be able to pay employees in 1967 currency dollars, or they going to have to payout at the 2021 currency rate? Because if they pay their employees at a current $10 rate, then it would be equivalent to paying them $75.78 in 1967.
Inflation Calculator | Find US Dollar's Value from 1913-2021 (usinflationcalculator.com)

I just love it when they start backpedaling!!! I personally form my own opinions. Not, worry about what Walmart, other companies, media sources or even anyone else at all, thinks. I form my own opinions by my own research. In my own personal opinion, this is the worst time to raise the Minimum Wage. Let companies recover from the Pandemic before forcing to raise wages. Further those increases should be spread out further, and at lower increments.

You really do not see what is going on. The DNC is forced into a corner. When employers start recalling employees, those employees are going to be looking at a pay cut. No, not from what they were making before the pandemic, but from what they are getting paid for sitting at home. Let me put that into perspective. Say an employee was making $10/hr before the Pandemic. That is $400 a week gross. Now they worked in a state that Unemployment pays 75% of their employed salary. That means, standard Unemployment rate would be $300 per week. Then the Federal Government steps in and adds another $300 a week. Now, they are making $600 a week to just sit at home. Next, the employer calls them back to work at their previous pay rate of $10 per hour. As a result, they lose their Unemployment benefits. They have to go back and work for $400 a week gross pay. They also will have to find a way to pay back all that rent that they had not been paying while the government had kept landlords from evicting them. The only way to keep this from happening is a substantial raise in the Minimum wage. No matter what the effect is to the economy. They are building the perfect storm in order to implement the Cloward-Piven Strategy.

 

Sorry but you don’t have the right to tell people how to spend their money.

 

So you think you do have the right to treat people like trash. Got it.

 

Smarten up and get a real job. If you can’t argue the point then be gone.