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Economics Discuss Business $15 minimum wage would boost pay for 17 million workers, says CBO at the Political Forums; Before anyone goes all giddy, please read the full report.... There are pluses and minuses 'assumed', and several in shall ...

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Old 07-11-2019, 02:08 PM
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Default Business $15 minimum wage would boost pay for 17 million workers, says CBO

Before anyone goes all giddy, please read the full report.... There are pluses and minuses 'assumed', and several in shall nature only.

FMWs a starting block... vthe majority of people do not stay at FMW during their adult working years. If they do, they are usually job hoping in low wage entry jobs. Most know my opinion on that subject.

People makes choices.... and the rest of the world should not have to be responsible for those choices.

https://www.yahoo.com/finance/news/1...202803314.html
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Old 07-11-2019, 02:22 PM
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Default Re: Business $15 minimum wage would boost pay for 17 million workers, says CBO

Quote:
Originally Posted by GottaGo View Post
There are pluses and minuses [to our raising the minimum wage to $15 per hour]...
This is entirely true.

Liberals appear to see only the major plus--it would, indeed, lift many folks out of poverty--yet they ignore the major minus: It would result in many people (especially among the unskilled) being kicked to the curb; or, at the very least, having their hours significantly reduced.

As with so many things, it is really a balancing act.

One should look carefully at both sides of the equation, before stridently voicing an opinion.
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Old 07-11-2019, 02:26 PM
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Default Re: Business $15 minimum wage would boost pay for 17 million workers, says CBO

Quote:
Originally Posted by pjohns View Post
This is entirely true.

Liberals appear to see only the major plus--it would, indeed, lift many folks out of poverty--yet they ignore the major minus: It would result in many people (especially among the unskilled) being kicked to the curb; or, at the very least, having their hours significantly reduced.

As with so many things, it is really a balancing act.

One should look carefully at both sides of the equation, before stridently voicing an opinion.
That makes the assumption that inflation would not be impacted and that the cost of goods and services remains static. However, when you begin to inflate wages on the low side, it raises ALL wages. That in itself them artificially increases production costs across the board which leads to a higher cost for goods and services. When it is all said in done, all that is accomplished is a spike in inflation with those on the lower end of the wage scale ultimately paying the price.
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Old 07-11-2019, 03:28 PM
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Default Re: Business $15 minimum wage would boost pay for 17 million workers, says CBO

Quote:
Originally Posted by pjohns View Post
This is entirely true.

Liberals appear to see only the major plus--it would, indeed, lift many folks out of poverty--yet they ignore the major minus: It would result in many people (especially among the unskilled) being kicked to the curb; or, at the very least, having their hours significantly reduced.

As with so many things, it is really a balancing act.

One should look carefully at both sides of the equation, before stridently voicing an opinion.
GetAClue pretty much covered it.

An increase in FMW gives a temporary increase, until inflation takes over as all wages rise to compensate for the production gap.

And at the end of the day, those earning whatever the prevailing FMW is, are still at the bottom of the ladder, and effectively, still living in 'poverty'. But certain groups will feel so much better, that they helped the lower classes.

The correct way to address the situation, IMO, is education/training. To properly raise those living in poverty, so that it's NOT a temporary bandaid, is to teach them how to increase their value in the marketplace. Provide some basic education/training (VoTech) to learn salable skills....

Or once FMW is raise, we will be right back where we started.... and having to listen to the same bunch, cry the same stories....
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Old 07-11-2019, 04:48 PM
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Default Re: Business $15 minimum wage would boost pay for 17 million workers, says CBO

Quote:
Originally Posted by GottaGo View Post
Before anyone goes all giddy, please read the full report.... There are pluses and minuses 'assumed', and several in shall nature only.

FMWs a starting block... vthe majority of people do not stay at FMW during their adult working years. If they do, they are usually job hoping in low wage entry jobs. Most know my opinion on that subject.

People makes choices.... and the rest of the world should not have to be responsible for those choices.

https://www.yahoo.com/finance/news/1...202803314.html
"Takes money to make money" is a pretty good adage here.
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Old 07-11-2019, 04:50 PM
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Default Re: Business $15 minimum wage would boost pay for 17 million workers, says CBO

Quote:
Originally Posted by pjohns View Post
This is entirely true.

Liberals appear to see only the major plus--it would, indeed, lift many folks out of poverty--yet they ignore the major minus: It would result in many people (especially among the unskilled) being kicked to the curb; or, at the very least, having their hours significantly reduced.

As with so many things, it is really a balancing act.

One should look carefully at both sides of the equation, before stridently voicing an opinion.
pjohns, if it wasn't so far out of kilter we wouldn't even be discussing the minimum wage.
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Old 07-11-2019, 06:45 PM
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Default Re: Business $15 minimum wage would boost pay for 17 million workers, says CBO

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Originally Posted by saltwn View Post
"Takes money to make money" is a pretty good adage here.
Actually, its complete crap.
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Old 07-11-2019, 08:28 PM
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Default Re: Business $15 minimum wage would boost pay for 17 million workers, says CBO

Within memory, minimum wages were $2.35 per hour, $4.35, $6.45 per hour per hour. Years later, those same people today make $7.75 per hour. THEY ARE STILL IN POVERTY!

Minimum wage is by definition poverty

Raising it again to $15.00 per hour, will not change that.
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Old 07-11-2019, 11:12 PM
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Default Re: Business $15 minimum wage would boost pay for 17 million workers, says CBO

Quote:
Originally Posted by GottaGo View Post
An increase in FMW gives a temporary increase, until inflation takes over as all wages rise to compensate for the production gap.
Correct...This will immediately impact those who went to college or a vocational school...

They'll be yelling "I got an Associate's Degree and paid $40K and make $17/hr...You're telling me that people that skipped that education are only making $80 a week less than me?!!?!?!"...
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Old 07-11-2019, 11:27 PM
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Default Re: Business $15 minimum wage would boost pay for 17 million workers, says CBO

Quote:
Originally Posted by lurch907 View Post
Actually, its complete crap.
obviously, you've never run a business or a household
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