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Minimum Wage; ..for your consumption
Tweet Topic Started: Jul 16 2013, 01:14 PM (1,725 Views)
Jazen Jul 18 2013, 06:48 PM Post #46
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IUCOLTFAN
Jul 18 2013, 06:37 PM
Jazen
Jul 18 2013, 06:01 PM
brumdog44
Jul 18 2013, 05:44 PM
Jazen
Jul 18 2013, 04:48 PM
I haven't read through this thread, but the last time I worked outside of the house, if I remember right, minimum wage was about 5.30 an hour.

I have no idea what it is now.
7.25
I haven't worked out of the house since December of '04. Under $2.00 jump in almost a decade?

Ridiculous.
That's roughly a 40% increase. It's the dollar amount that makeshift sound so small. Has the average worker pay gone up 40% over that time period? I'm not sure but my guess would be no....
I'll be honest, and remember it's been a long time since I've been in the loop, but I would have guessed close to $9 an hour. Maybe not quite, but close.

I'm politically and economically pretty ignorant to begin with, but I'd have never guessed it would barely be over 7 still.
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brumdog44 Jul 18 2013, 06:52 PM Post #47
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brumdog44
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Jazen
Jul 18 2013, 04:48 PM
I haven't read through this thread, but the last time I worked outside of the house, if I remember right, minimum wage was about 5.30 an hour.

I have no idea what it is now.
7.25
I haven't worked out of the house since December of '04. Under $2.00 jump in almost a decade?

Ridiculous.
That's roughly a 40% increase. It's the dollar amount that makeshift sound so small. Has the average worker pay gone up 40% over that time period? I'm not sure but my guess would be no....
Prior to the adoption of the three step increase in 2007, the minimum wage based on constant dollar comparisons had reached an all time low.

Anyway, here is the comparison of time equal dollars.

http://www.infoplease.com/ipa/A0774473.html
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HoosierLars Jul 18 2013, 07:40 PM Post #48
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Jul 18 2013, 06:48 PM
I'm politically and economically pretty ignorant to begin with, but I'd have never guessed it would barely be over 7 still.
Did you checkout the Friedman-Donahue video? I remember that as a kid I was bummed out by the fact that the centrally controlled Soviet economy would probably beat ours, and how could our chaotic system possibly work as well? (Brum and others still favor the hammer and sickle approach)
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yawnzzz Jul 18 2013, 07:59 PM Post #49
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Did you checkout the Friedman-Donahue video? I remember that as a kid I was bummed out by the fact that the centrally controlled Soviet economy would probably beat ours, and how could our chaotic system possibly work as well? (Brum and others still favor the hammer and sickle approach)
The problem with your comparison is that this discussion involves a country that already has a large welfare program in place and is very unlikely to remove it.

So, which country sounds more like the Soviet Union:
1. A country where unskilled laborers receive a substantial portion of their income from the government.

2. A country where the government has regulations in place so that unskilled laborers receive their income from their employer.

And similar to the Soviet Union, when you don't receive your pay in direct relation to the work you perform, the productivity of workers will go down.
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sirbrianwilson Jul 18 2013, 08:10 PM Post #50
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Trying to compare percentage increases in minimum wage vs. salaried jobs is a complete display of ignorance. A 40 percent increase to a 50k job turns it into a 70k job. The 2 dollar increase to minimum wage represents roughly 4k/year. That isn't even close to the same.
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Mr Gray Jul 18 2013, 08:15 PM Post #51
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Trying to compare percentage increases in minimum wage vs. salaried jobs is a complete display of ignorance. A 40 percent increase to a 50k job turns it into a 70k job. The 2 dollar increase to minimum wage represents roughly 4k/year. That isn't even close to the same.
Brian, I don't think you answered my question about what type of person or situation results in a minimum wage job?
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yawnzzz Jul 18 2013, 08:19 PM Post #52
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Jul 17 2013, 06:01 PM
Mr gray,

I am assuming that you believe eliminating the minimum wage would actually increase wages?

My assumption is that you believe employees are very important to the success of a business. That by eliminating the minimum wage business then compete for strong workers.
Not sure if it would increase wages or not, but it would decrease our costs of goods and increase employment. Americans demand higher wages and complain about jobs going overseas at the same time. Quite a paradox.
There's a 0% chance that it increases wages.

Do you honestly think the unemployment rate is high because there's not enough minimum wage jobs?
I didn't say it would increase wages. I KNOW that many American companies would hire more legal American workers if they could do so at a lower wage. Why do you think we outsource and/or hire illegals instead of Americans currently?
The reason we outsource isn't primarily because of minimum wage. You would not find individuals in the U.S. willing to work for under $7 an hour in a factory. If you could, companies wouldn't outsource because any profit made from labor wages would be lost by shipping costs. My company would gladly move all manufacturing from China back to the U.S. if we could find enough employees at $10 an hour. We currently start out at $12 and can't keep up with demand.
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sirbrianwilson Jul 18 2013, 08:41 PM Post #53
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Trying to compare percentage increases in minimum wage vs. salaried jobs is a complete display of ignorance. A 40 percent increase to a 50k job turns it into a 70k job. The 2 dollar increase to minimum wage represents roughly 4k/year. That isn't even close to the same.
Brian, I don't think you answered my question about what type of person or situation results in a minimum wage job?
There are millions of underqualified individuals in this country. And a ton of qualified individuals with no job options for their education/experience level.

Do you live in an area without poverty? Do you live in an area where all elementary, middle, and high schools are created equal? Do you live in an area where there are no layoffs? Do you live in an area where kids don't get pregnant? Do you live in an area without orphans? Do you live in an area where small business owners don't suddenly lose their business? Do you live in an area that lacks unskilled labor?

Your question of "what situation results in a minimum wage job" represents a vast departure from reality. Ask yourself that question while chomping down on a bigmac or buying groceries.

Get real and join the conversation.

br
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brumdog44 Jul 18 2013, 08:54 PM Post #54
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I don't think those who lack the ability to work anything a minimum wage job lack any less of a need for basic necessities. Examine the chart that was post and explain why there should be a necessity to work 70 hours per week to do nothing more than get by.
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Jazen Jul 18 2013, 09:01 PM Post #55
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I'm politically and economically pretty ignorant to begin with, but I'd have never guessed it would barely be over 7 still.
Did you checkout the Friedman-Donahue video? I remember that as a kid I was bummed out by the fact that the centrally controlled Soviet economy would probably beat ours, and how could our chaotic system possibly work as well? (Brum and others still favor the hammer and sickle approach)
You lost me at "Did".

B)
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sirbrianwilson Jul 18 2013, 09:38 PM Post #56
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Respond to the numbers if you want your argument to be taken seriously.

70 hrs should not equate "just get by."

That IS the problem.

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IUCOLTFAN Jul 18 2013, 10:31 PM Post #57
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Should every working age individual be able to work 40 hrs/week at any job and be able to live debt free on their own?
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sirbrianwilson Jul 18 2013, 10:44 PM Post #58
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Who here is making the argument that it's realistic to live on a minimum wage income?

I just want to identify who thinks that's possible.

For those who do think it's possible, your argument goes nowhere until you provide the numbers that support it.
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brumdog44 Jul 18 2013, 11:28 PM Post #59
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Jul 18 2013, 10:31 PM
Should every working age individual be able to work 40 hrs/week at any job and be able to live debt free on their own?
Should individuals working 60 hours not be able to get by? The numbers are showing the need for basically two forty hour jobs to get by debt free.
Edited by brumdog44, Jul 18 2013, 11:29 PM.
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sirbrianwilson Jul 18 2013, 11:43 PM Post #60
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Jul 18 2013, 11:28 PM
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Jul 18 2013, 10:31 PM
Should every working age individual be able to work 40 hrs/week at any job and be able to live debt free on their own?
Should individuals working 60 hours not be able to get by? The numbers are showing the need for basically two forty hour jobs to get by debt free.
What a sad disconnect...

br
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