Minimum Wage Increase Would Help Sluggish Economy, Say Experts

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Brain -> Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/7/2011 8:24:57 PM)
I talked about this last year in a thread. Of course Republicans are against doing anything that would create jobs and that's why their economic policies totally suck! What's really disgusting is that people are unhappy with Obama because of the high rate of unemployment so Mitt Romney has higher approval ratings. And that is totally sickening because he didn't want to bailout General Motors and Chrysler and if he had his way there would be 1 million more people unemployed. But why do what people who know what they're talking about say when we can listen to the moronic Sarah Palin. Wow, the article said 67 to 86% of people polled support increasing the minimum wage. Minimum Wage Increase Would Help Sluggish Economy, Say Experts Backed by what they described as 15 years' worth of research, a panel at progressive think tank the Center for American Progress (CAP) argued that higher minimum wages flush more money into the economy without cutting into job growth -- the latter a long-held contention of business interests and many conservatives. Michael Reich, an economics professor and director of the Institute for Research on Labor and Employment at the University of California, Berkeley, said his research has shown that businesses don't suffer from having to dish out slightly higher wages to their lowest-paid employees. In fact, he argued there are benefits to employers. "The labor market absorbs the minimum wage," said Reich. "Turnover goes way down when there's a minimum-wage increase. Employees -- when they stay longer, they'll be more experienced and more productive. And the employers will have lower turnover costs." According to Shierholz, jacking the federal minimum wage from $7.25 to $8.25 would give a raise to 10 million workers, including many currently earning their state minimum wage. That could ultimately pump as much as $9 billion into the economy, she said. "At a time like this, there is nothing else putting upward pressure on wages." http://www.huffingtonpost.com/2011/06/07/minimum-wage-increase-help-economy-experts_n_872617.html [image]local://upfiles/392475/E0FD750368E947EF9085533FA633F635.jpg[/image]

Termyn8or -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/7/2011 10:41:42 PM)
"According to Shierholz, jacking the federal minimum wage from $7.25 to $8.25 would give a raise to 10 million workers, including many currently earning their state minimum wage." People who say shit like that have never run a business in the private sector. Not that I have in a long time, but I've been involved enough in enough of them to know. In round figures, if you pay ten people ten bucks an hour and you find you have to pay them eleven bucks an hour, you will fire one and spread the work among the other nine, thus actually saving a buck an hour. As long as the supply exceeds the demand, it's a buyer's market. T^T

willbeurdaddy -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/7/2011 10:50:25 PM)
The economic theory on minimum wage is totally wrong and you are clueless about the bailouts of GM and Chrysler. There are fewer people employed as a result, their stock prices are lower than they would be, and investors wouldnt be concerned about the government stepping in and stealing their investments. Both would be much stronger companies today with Obamas socialism.

Termyn8or -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/7/2011 11:01:52 PM)
Me ? I only commented on the minimum wage itself. T^T

DarkSteven -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/8/2011 7:25:04 AM)
The theory is that raising the minimum wage would shift money from stockholder value (which the article calls corporate profits) to the wage earning classes. I have no issue with that. But that's a view that is focused on larger companies. The smaller companies would simply hire less (as conservatives usually say) or simply go under.

cuckoldmepls -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/8/2011 7:35:24 AM)
Give it up. We are tired of hearing your bitching about raising minimum wage. I for one, wouldn't pay $10 for a value meal. Minimum wage is meant for high school and college kids. Do you really think they need to make $10 an hour???

mnottertail -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/8/2011 7:56:32 AM)
quote: ORIGINAL: cuckoldmepls Minimum wage is meant for high school and college kids. Are you out and about seeing that such an ideal is being strictly adhered to?

servantforuse -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/8/2011 8:34:20 AM)
We should just make the minimum wage $20.00. Then we would pump 20 billion into the economy instead of a paltry 9 billion.

mnottertail -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/8/2011 8:41:16 AM)
Why do that? I mean I have seen great evidence of your innumeracy in times past, but.... I notice every one of you is denigrating this idea from experts, but by god the experts who say reduce taxes on the wealthy corporations(which has failed us at least 3 or 4 times), thats liquid gold.

Termyn8or -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/9/2011 1:22:19 AM)
FR Alright kids settle down. Let's attack this logically. The US presumes to be the be all end all and the last word. When it benefits CERTAIN PEOPLE this is extended worldwide. So let's go with that. ANY company that wants to sell shit here must abide by ALL laws and regulations pertaining to not only minimum wage and OSHA, and the NLRB, but also environmental regs. Hey, after all it is the same environment right ? Carbon fron China eventually gets here, does it not ? So under this doctrine, since we can bomb schools and hospitals in any country we please, how much is it to ask that people who want to sell shit here apply OUR principles (yeah) in the manufacturing of the goods WE BUY ? Hey, that might mean no lead based paint in kids toys and shit like that. Think of the children ! Why does our authority go so far and yet stop so short ? I know the answer and I am sure you don't want to hear it. T^T

luckydawg -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/9/2011 7:07:38 AM)
servant, lets make it 40$ an hour, that would be even better.

brispslave -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/9/2011 7:14:50 AM)
These are the same 'experts' who say printing money to pay its bills is a good idea, yes? And please don't quote the huffington post...you might as well quote Michael Moore.

thompsonx -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/9/2011 7:20:46 AM)
quote: ORIGINAL: cuckoldmepls Give it up. We are tired of hearing your bitching about raising minimum wage. I for one, wouldn't pay $10 for a value meal. Minimum wage is meant for high school and college kids. Do you really think they need to make $10 an hour??? Will you work for $10 an hour?

thompsonx -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/9/2011 7:24:56 AM)
quote: ORIGINAL: brispslave These are the same 'experts' who say printing money to pay its bills is a good idea, yes? And please don't quote the huffington post...you might as well quote Michael Moore. Perhaps you could tell us just where mr. moore has been less than accurate in his reporting?

brispslave -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/9/2011 3:56:56 PM)
Is that supposed to be funny? Try "Michael Moore Is a Big Fat Stupid White Man" for a whole book about his lies and hypocracy.

willbeurdaddy -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/9/2011 4:10:40 PM)
quote: ORIGINAL: DarkSteven The theory is that raising the minimum wage would shift money from stockholder value (which the article calls corporate profits) to the wage earning classes. I have no issue with that. But that's a view that is focused on larger companies. The smaller companies would simply hire less (as conservatives usually say) or simply go under. They missed a step (based on reading your post only DS). Price increases. Shareholder value and companies going out of business would only happen if the demand curve is so steep that they cant recover all or most of the cost increase. So to a large extent the result would be inflation that hurts the minimum wage earners more than anyone.

Termyn8or -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/9/2011 4:24:12 PM)
While I detest agreeing with you, that is essentially correct. Could be summed up better though - it depends on what the market will bear. It really does depend on the product. For certain things, the sheeple will pay any price. You know, necessities, like ipads, video games, football tickets, vacations. But then the tertiary items, like gas, water and so on, well they'll pay just about anything for them as well because they have no choice. <sarcasm>This is how the US government encourages saving and investment.</sarcasm> (I'm trying to use the sarcasm tag now because of.....well ya just gotta) T^T

BamaD -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/9/2011 4:59:36 PM)
Lets see if I have this straight you run a small business. You are just hanging on because of the economy you pay 750 minimum wage. Government says you have to give everyone a dollar an hour raise. Can't raise prices because slow economy so the dollar plus your share of ss plus you share of medicare, plus increased unemployment payments all has to come out of your pocket but your pocket isn't that deep remember slow economy. So where does it come from.. Last guy you hired.

willbeurdaddy -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/9/2011 5:24:25 PM)
quote: ORIGINAL: Termyn8or While I detest agreeing with you, that is essentially correct. Could be summed up better though - it depends on what the market will bear. Uhhhh, wtf do you think "if the demand curve is so steep" means?

willbeurdaddy -> RE: Minimum Wage Increase Would Help Sluggish Economy, Say Experts (6/9/2011 5:26:18 PM)
quote: ORIGINAL: BamaD Lets see if I have this straight you run a small business. You are just hanging on because of the economy you pay 750 minimum wage. Government says you have to give everyone a dollar an hour raise. Can't raise prices because slow economy so the dollar plus your share of ss plus you share of medicare, plus increased unemployment payments all has to come out of your pocket but your pocket isn't that deep remember slow economy. So where does it come from.. Last guy you hired. Uhhhh, once again. "Cant raise prices because slow economy" implies a very steep demand curve...like one that drops to 0.

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