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Featured Should the minimum wage be hiked?

Discussion in 'Current News & Events' started by mukk_in, Jul 9, 2019.

  1. FenderTL5

    FenderTL5 Well-Known Member Supporter

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    reading through the thread the gist seems to be: despite what the studies and history indicates, (I) believe the opposite of that information
    First of all, I would challenge the notion that there are across the board wage increases, "for most". Wages have been static for hourly workers for years, even in decline when inflation is factored.
    Secondly, IF<- if wages are increasing it is not due to Trump's policies because they were intended to do the opposite, “...the President’s tax cuts, which are going to stimulate a lot of investment, productivity growth and downward pressure on wages.” -Peter Navarro Assistant to the President, and Director of Trade and Manufacturing Policy, April 2018


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  2. Archivist

    Archivist Senior Veteran Supporter

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    The people who always seem to get hurt when the minimum wage is increased are students working part-time jobs. When the wage goes up employers tend to require more work from their full-time employees and cut back or eliminate part-time student workers. Sad because many times these young people are trying to save money for college.
     
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  3. aiki

    aiki Regular Member

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  4. OldWiseGuy

    OldWiseGuy Wake me when it's soup. Supporter

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    You nailed it. :oldthumbsup:
     
  5. 98cwitr

    98cwitr Lord forgive me Staff Member Red Team - Moderator Supporter

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    Would be a textbook case of Cobra Effect. It would created more automated jobs, resulting in higher unemployment. Simply put, a job seeker enters into a wage contract freely and can choose whether or not to accept a job based on offered compensation. To force companies to pay a minimum certain rate will result in more job loss and fewer jobs overall.
     
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  6. OldWiseGuy

    OldWiseGuy Wake me when it's soup. Supporter

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    No worries. That's just part of the 'natural selection' process applied to economics. Survival of the fittest.
     
  7. Brian Mcnamee

    Brian Mcnamee Well-Known Member

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    Im old enough to remember the $2.00 minimum then the rise to $5.00 then 7.50. The problem is the decline in the value of money and the solution is more to go back to a silver or gold standard then you have price stability. You cannon mandate wages except in abusive situations. The job creates a cost for the employer that they have to recover. When the cost gets too high he can't make a profit and mandated wages will eliminate jobs. Look around you are bagging your own groceries and seeing kiosks at fast food restaurants and you pump your own gas and this is before AI and the new wave of robotics that can take away even more jobs. If you could pay a high school kid say 8-10 an hours to bag groceries we might have more help in the store. Those wages at a young age help the families out and teach the kids some responsibility too and money management skills. They also have the sense of not getting a handout and it effects the values. You can vote it in and wait 7 years and they will be wanting to vote for $20 an hour. The big question that effects us all is how long can we run huge debts and then inflate the money until we turn into Venezeuea? Things to not go up just in cents they usually go up in percentages. so the time it took for prices to double is the same but each time you double the prices have gone up exponentially . We are seeing the end of the dollar era and for those who know prophecy we can speculate how it will end and what will come after.
     
  8. Sparagmos

    Sparagmos Well-Known Member

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    Studies in places that have already raised the minimum wage show little or no job losses. Here in the northwest we’ve raised the minimum wage quite a bit, and there is actually a shortage of workers in the food and beverage industry, and overall lower unemployment than the country as a whole. So we know - raising the min wage doesn’t result in higher unemployment.
     
  9. Sparagmos

    Sparagmos Well-Known Member

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    No one is proposing a sudden increase. Did you read the article? We don’t have to wonder and guess at what might happen. Just look at the places that have already raised the minimum wage, they’re doing just fine.
     
  10. Sparagmos

    Sparagmos Well-Known Member

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    Yeah it’s disturbing that people are just ignoring the cold hard facts in the OP article and continuing right on with their preconceived notions. Wages are going up because minimum wages have already been increased all over the country, and because of the public pressure on large companies by the “fight for 15,” not because of Trump tax cuts or deregulation.
     
  11. miamited

    miamited Ted Supporter

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    Hi mukk,

    My two cents worth...

    I believe that the federal minimum wage should be raised. Pretty much everyone pays better than that minimum wage already. However, I'm not sure that $15 should be the standard nationwide. For federal minimum wage I'd be happy with $10-11/hour. Local municipalities and states are always able to raise minimum wages for a particular area where the cost of living may well be higher than much of the rest of the nation.

    There are always articles that decry the damage that will be done every time raising the minimum wage comes up. So far, we haven't suffered an serious or lasting harm. Unfortunately, it seems to be just a short gain objective. We raise the minimum wage and for a short while those at the bottom of the food chain are making a little better income. However, after a year or two prices adjust and those same people find their buying power no better than it was before it all began.

    However, I do believe that the federal minimum wage is out of step with most wage floors today.

    God bless,
    In Christ, ted
     
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  12. Albion

    Albion Facilitator

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    No, studies have shown that there are significant losses, but it may depend on what kinds of minimum wage hikes you are referring to in your own experience.

    For instance, a gradual or incremental increase has less impact than the $15/hr proposals that are the topic now, which actually amount to $18.61 when the obligatory payroll taxes, etc. are added.

    Claims that say the impact is not so great also do not account for the number of people forced into part-time jobs as a result. They are still "employed", after all.
     
    Last edited: Jul 10, 2019
  13. archarios

    archarios New Member

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    Last edited: Jul 16, 2019 at 1:49 PM
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  14. Sparagmos

    Sparagmos Well-Known Member

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    So you didn’t read the OP? It says the opposite - there have been no significant losses shown. And the only minimum wage increases that have happened have been gradual, no one is proposing a sudden increase to $15. I’m not getting the impression that you have researched this topic at all.
     
  15. Albion

    Albion Facilitator

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    No, it doesn't, and significant losses have occurred.
     
  16. Sparagmos

    Sparagmos Well-Known Member

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    The study on Seattle has been debunked and since it was published the unemployment rate there has dropped even more. There are more jobs in the minimum wage sectors in Seattle right now than there are workers. There’s a ton of available OT being offered because the economy is booming and they have a low wage worker shortage.

    Edit: I’ll add, look at the dates on all of those articles. Some are close to 4 years old. Restaurants fail at a very high rate as it is and when economists looked closer they saw that no more restaurants closed after the min wage increase than normally do. There literally aren’t enough cooks to staff restaurants right now in Seattle.
     
  17. archarios

    archarios New Member

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    Last edited: Jul 16, 2019 at 1:49 PM
  18. archarios

    archarios New Member

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    Last edited: Jul 16, 2019 at 1:49 PM
  19. archarios

    archarios New Member

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    Last edited: Jul 16, 2019 at 1:49 PM
  20. Sparagmos

    Sparagmos Well-Known Member

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    “It used to be taken for granted that raising the minimum wage would decrease the number of low-wage jobs, and that teenagers would have more difficulty finding part-time work. Economists published research in the 1970s showing that it did happen, likely because restaurants and department stores had to cut jobs and work hours to cover the cost of paying employees more.

    But in the past decade, progressive economists have challenged these assumptions with new data that is now available.

    Dozens of Democratic-held cities and states have increased the minimum wage floor over the years, well above the current federal minimum of $7.25 an hour. Recent research suggests the worst-feared consequences of minimum wage hikes did not come to pass: Employment did not decrease in places where wages went up, and there was actually a residually positive effect on wages for other lower-income workers.

    Please tell us about the significant losses. I don’t think you have researched this topic, or have any first hand knowledge.
     
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