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Old 07-29-2016, 08:52 AM
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Default Trump calls for $10 hour minimum wage

Holy WTF Batman!

Trump's Call for $10 Minimum Wage Spurs Confusion, Opposition

Minimum wage is just income redistribution. The only absolute outcome is inflation. It makes no one any better off.

Either THE Donald is pandering or I missed something about being a conservative!
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Old 07-29-2016, 09:01 AM
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Default Re: Trump calls for $10 hour minimum wage

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Originally Posted by FrancSevin View Post
Holy WTF Batman!

Trump's Call for $10 Minimum Wage Spurs Confusion, Opposition

Minimum wage is just income redistribution. The only absolute outcome is inflation. It makes no one any better off.

Either THE Donald is pandering or I missed something about being a conservative!
I don't think Trump is all that conservative. If anything he's middle if the road.

Still $10 is $5 less than $15. a 33% better reason to vote for Trump. Hopefully Congress, assuming the R's prevail, will get the message and do what they are supposed to do.
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Old 07-29-2016, 09:09 AM
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Default Re: Trump calls for $10 hour minimum wage

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Originally Posted by FrancSevin View Post
Holy WTF Batman!

Trump's Call for $10 Minimum Wage Spurs Confusion, Opposition

Minimum wage is just income redistribution. The only absolute outcome is inflation. It makes no one any better off.

Either THE Donald is pandering or I missed something about being a conservative!
My conclusion also would be pandering.

What too many people fail to see is that MW is a starting block. Anyone who stays at minimum wage for any length of time is either not applying themselves, or is in a 'pass through' job and hasn't quite figured that out yet.

I disagree about a basic minimum wage being income distribution. While I'm all about negotiating one's worth in the employment marketplace, there needs to be a base to start from. If one cannot get a MW job (excepting the over qualified, of course) then one (should) knows they need to improve their basic skills.

*all references exclude those physically/mentally incapable of working.
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Old 07-29-2016, 09:35 AM
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Default Re: Trump calls for $10 hour minimum wage

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Originally Posted by GottaGo View Post
My conclusion also would be pandering.

What too many people fail to see is that MW is a starting block. Anyone who stays at minimum wage for any length of time is either not applying themselves, or is in a 'pass through' job and hasn't quite figured that out yet.

I disagree about a basic minimum wage being income distribution. While I'm all about negotiating one's worth in the employment marketplace, there needs to be a base to start from. If one cannot get a MW job (excepting the over qualified, of course) then one (should) knows they need to improve their basic skills.

*all references exclude those physically/mentally incapable of working.
There is always a minimum wage to start from. Where agenda driven people differ is in the presumption that the minimum wage is in any way related to your goal. Liberals presume that there are people that believe that minimum wage is being all that you can be and therefore the government must step in and help the unfortunate. Conservatives think it's just a very temporary start.
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Old 07-29-2016, 09:39 AM
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Default Re: Trump calls for $10 hour minimum wage

Quote:
Originally Posted by FrancSevin View Post
Holy WTF Batman!

Trump's Call for $10 Minimum Wage Spurs Confusion, Opposition

Minimum wage is just income redistribution. The only absolute outcome is inflation. It makes no one any better off.

Either THE Donald is pandering or I missed something about being a conservative!
The song remains the same, just a different band playing.....

Are you ready to dump Trump just like Hillary yet.....?


Or, is it just a lessor of's deal......?
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Old 07-29-2016, 09:48 AM
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Default Re: Trump calls for $10 hour minimum wage

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Originally Posted by Dave1 View Post
The song remains the same, just a different band playing.....

Are you ready to dump Trump just like Hillary yet.....?


Or, is it just a lessor of's deal......?
Trump is just being sarcastic.
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Old 07-29-2016, 09:50 AM
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Default Re: Trump calls for $10 hour minimum wage

A report that analyzed every minimum-wage hike since 1938 should put a bunch of nonsense ideas to rest


From the fear-mongering headlines marking passage of $15 statutes in New York and California, you would think nobody ever dared raise the minimum wage before.

"Raising minimum wage risky," the Lexington (Kentucky) Herald-Leader tersely warned.

"Raising minimum wage hurts low-skill workers," the Detroit News bluntly declared.

"Even left-leaning economists say it's a gamble," Vox solemnly cautioned.

Nonsense. We have been raising the minimum wage for 78 years, and as a new study clearly reveals, 78 years of minimum-wage hikes have produced zero evidence of the "job-killing" consequences these headline writers want us to fear.

In a first-of-its-kind report, researchers at the National Employment Law Project pore over employment data from every federal increase since the minimum wage was first established, making "simple before-and-after comparisons of job-growth trends 12 months after each minimum-wage increase."

What did the researchers find? The paper's title says it all: "Raise Wages, Kill Jobs? Seven Decades of Historical Data Find No Correlation Between Minimum Wage Increases and Employment Levels."

The results were clear. Of the nearly two dozen federal minimum-wage hikes since 1938, total year-over-year employment actually increased 68% of the time.

In those industries most affected by the minimum wage, employment increases were even more common: 73% of the time in the retail sector, 82% in low-wage leisure and hospitality.

"These basic economic indicators show no correlation between federal minimum-wage increases and lower employment levels," the authors write.

In fact, if anything, the data suggest that increases in the federal minimum appeared to encourage job growth and hiring.

Perhaps even more striking, of the only eight times that total or industry-specific employment declined after a minimum-wage increase, the US economy was already in recession (five times), technically just emerging from recession (twice), or about to head into recession (once).

Clearly, this handful of employment downturns would be better explained by the normal business cycle than by the minimum wage.

"As those results mirror the findings of decades of more sophisticated academic research," the authors conclude, "they provide simple confirmation that opponents' perennial predictions of job losses are rooted in ideology, not evidence."

But while there is no evidence that raising the minimum wage is the "risky" "gamble" that doomsayers describe, the devastating economic costs of keeping wages too low are very well documented.

After decades of stagnant wages, 73 million Americans — nearly one quarter of our population — now live in households eligible for the Earned Income Tax Credit, a benefit exclusively available to the working poor.

And according to a 2014 report from the Organization for Economic Cooperation and Development, rising income inequality (and the reduced consumer demand that comes with it) knocked 6% to 9% off US economic growth over the previous two decades.

Wow. If the US economy were 9% bigger than it is today, it would have created about 11 million additional jobs. Imagine how great that would be for both American workers and businesses.

To be clear, I am not suggesting that there's no limit to how high we can raise the minimum wage. But minimum-wage opponents are not haggling over a number. They are not making a nuanced argument that the minimum wage might be bad for some people if it's too high or phased in too fast or if the economy is too weak to absorb the change.

No, their core claim is that the minimum wage always hurts the whole economy — that it will always reduce growth— that it is always a sure-fire "job-killer."

For decades, our minimum-wage debate has been dominated by ideology — the zero-sum claim that if wages go up, employment must inevitably go down — leading even many progressives to believe that the minimum wage is at best a necessary trade-off between fairness and growth.

But 78 years of evidence demonstrates that this old trickle-down model just isn't true. On the contrary: When workers have more money, businesses have more customers and hire more workers. That is the virtuous cycle that has always described the way market economies actually work.

So if you are genuinely worried about killing jobs, our current $7.25-an-hour minimum wage is arguably far riskier than $15.

Minimum wage effect on jobs - Business Insider
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Old 07-29-2016, 10:01 AM
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Default Re: Trump calls for $10 hour minimum wage

Quote:
Originally Posted by Dave1 View Post
The song remains the same, just a different band playing.....

Are you ready to dump Trump just like Hillary yet.....?


Or, is it just a lessor of's deal......?
Nope, both Bernie and Hillary have replaced the $15 per hour minimum wage demand with the indefinite "living wage" corrupting the idea of a minimum wage into a career. That is fundamentally different from Trump's suggestion of a modest increase to the minimum wage. Although I disagree with Trump's proposal it doesn't redefine minimum wage into the socialist living wage. So, it is not the same tune as Hillary and Bernie.
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Old 07-29-2016, 10:05 AM
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Default Re: Trump calls for $10 hour minimum wage

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Originally Posted by jimbo View Post
I don't think Trump is all that conservative. If anything he's middle if the road.

Still $10 is $5 less than $15. a 33% better reason to vote for Trump. Hopefully Congress, assuming the R's prevail, will get the message and do what they are supposed to do.
ANY MINIMUM WAGE LAW IS A DECEPTION LAID ON THE PEOPLE.

It devalues the currency and the worth of work performed.
It creates no wealth for anyone. Not the rich and most certainly, not the poor.
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Old 07-29-2016, 10:38 AM
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Default Re: Trump calls for $10 hour minimum wage

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Originally Posted by FrancSevin View Post
Minimum wage is just income redistribution. The only absolute outcome is inflation. It makes no one any better off.
This is right-wing economic nonsense.

Inflation is exclusively due to the expansion of the money supply (fiat currency) and not due to the costs of providing goods and services that have been consistently going down since the industrial revolution.

The minimum wage is not wealth redistribution. Wealth redistribution occurs when money is taken from the wealthy and given to the poor. Employee compensation is a "cost of enterprise" and it's no different than the rent, utilities or other expenditures and is not a component of the "profits" that the owners of the enterprise realize. The minimum wage represents an "expense" of the enterprise while the "profits" are what's left over after all expenditures so the owner is not harmed by the increase in the cost of compensation for employment and it actually increase the "profits" because profits are always based upon a percentage of what's left over after expenditures.

For example if the company spends $100 on operating expenses and has a 10% profit margin then the profits are $10. If the operating expenses go up to $110 then the 10% profit margin results in $11 in profits going into the owners pocket. The owner actually earns more profit based upon the profit margin as the costs of operations increase.

The minimum wage, applied across the board, doesn't result in any competitive advantage or disadvantage for any enterprise. All it does in provide a "level playing field" for all enterprises where none can take advantage of a lower labor cost in their business for a pricing advantage to the customers.

There's only one real pragmatic consideration when addressing any increases in costs to the enterprise and that's because these costs need to be accommodated by changes in the business plan. It's difficult for a business plan to adjust to a dramatic change in costs but it's very easy for the business plan to adjust to gradual increases in costs. So pragmatically an increase in the "minimum wage" needs to be a phased increase over time so that the increased costs can be adjusted for by changes to the business plan.

That's one of the problems with our current minimum wage is that it hasn't been gradually increased over time so that the business plan could be adjusted so that it doesn't result in any negative consequences to the enterprises affected. Jumping from $7.25/hr to $10/hr can have negative consequence but, on the other hand, if we only required a 7.5% increase per year we could easily increase the minimum wage from $7.25/hr to over $15/hr in ten years without negatively effecting any enterprise because a 7.5% annual increase in compensation, that only increases to total costs to the enterprise by less than 2% (employee compensation is only about 25% of the costs to the enterprise) can be accommodated by a change to the business plan.

So long as it's a phased implementation it's easily accommodated for but it's a large sudden change that negatively effects the enterprise that can reduce profits. Phased in it actually increases the profits in dollars for the owners.
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