Hundreds of Economists Say: Raise the Minimum Wage

[LAM]

lam never ran a company or had to make payroll. he doesn't understand how businesses operate.

I guess being a Senior Engineer at a 20Billion dollar company running a lab that made 30million a year just in labor off 4 people counts as having no experience in running a company.

and the 3-4 million a made just in labor off myself and 4 subcontractors in 6 years in Vegas, I guess that doesn't count either.

and the 18 million I made as a mortgage broker working as a subcontractor from 1995-2005 I guess that doesn't count either.

 

[Swfl]

food prices are higher all over the EU compared to the US because they do not subsidize their industry's anywhere near the point as that in the US because the dollar is a worthless piece of shit.

if not for government subsidy in the US the vast majority of those in the lowest 2 income quintiles couldn't afford the basic necessities with out major assistance from the gov.

and why do you think that is?

On a side note its funny how you trash talk the us gov and say it and the corporations are destroying everything but then every other post is something new about how wonderful the FED is. they are the main problem but you seem to LOVE and support them 100% the whole system is fucked. And not you or anyone else gets to just pick and choose the good from the bad. Oh I like the fed but the corporations are evil. They work together... its a symbiotic relationship kill one kill the other. but capitalism is not as evil as you and the others make it out to be it has created more upward movement and opportunity than any government (capitalist or socialist, communist or any other)handout ever has or ever could.

 

[Swiper]

I guess being a Senior Engineer at a 20Billion dollar company running a lab that made 30million a year just in labor off 4 people counts as having no experience in running a company.

and the 3-4 million a made just in labor off myself and 4 subcontractors in 6 years in Vegas, I guess that doesn't count either.

and the 18 million I made as a mortgage broker working as a subcontractor from 1995-2005 I guess that doesn't count either.

Correct. that's doesn't count.

 

[Swfl]

Correct. that's doesn't count.

I second this, unless you actually hired employees, trained them, made payroll and paid their taxes into the government, and handled all aspects from startup to sale or shutdown of said company you DO NOT know nor could you possibly understand.

 

[Swiper]

I guess being a Senior Engineer at a 20Billion dollar company running a lab that made 30million a year just in labor off 4 people counts as having no experience in running a company.

and the 3-4 million a made just in labor off myself and 4 subcontractors in 6 years in Vegas, I guess that doesn't count either.

and the 18 million I made as a mortgage broker working as a subcontractor from 1995-2005 I guess that doesn't count either.

got a question for ya. that pic you posted of yourself a decade ago, you know the one with the nasty gyno, it looked like you were in a dirty apartment with green carpet and early 1980's decor. where were you, not at home right?

 

[Zaphod]

LOL you don't blame the govt one bit. don't ya?

the govt is controlled by corporations by choice. the govt chooses to be corrupt, don't you get that? If the govt didn't give in to the big corps we wouldn't have most of the major problems we currently have in our economy. But then again i don't expect you to understand that because you love big govt and it's policies.

You can't quite wrap your tiny brain around the fact that corporations actively work to corrupt government. There wouldn't be big government without corporations corrupting it. The government is big because that is how those financial interests (corporations) want it.

 

[Zaphod]

got a question for ya. that pic you posted of yourself a decade ago, you know the one with the nasty gyno, it looked like you were in a dirty apartment with green carpet and early 1980's decor. where were you, not at home right?

You've got nothing left to argue, I see.

 

[nm1069]

Yea. GM has corrupted the government soo much. O wait there ran by the government. Insurance companies work so hard to corrupt the government. O wait Affordable care act incoming. Companies do what they have to, to survive.
I pay over $10,000 a year for various licences. If I was just starting a business how the fk would I raise the money required to just pay off the government so i could legally sell my product. YOU CANT. So more people are just falling in line, because the money it takes to pay off the government is outrageous. Why do this? Well every year I get a list of protocols/demands the government forces down my throat. This limits my control and expands government control. I don't Own a $100,000,000 company, but i do own a company that nets sales over $1,000,000. Sound like a lot? Well after taxes, licences, insurance, payroll, and then taxes again on my personal income, it equates to maby 50-75k a year. I'M DONE, GOING TO THE GYM BECAUSE THIS SHIT PISSES ME OFF.

 

[Swiper]

You can't quite wrap your tiny brain around the fact that corporations actively work to corrupt government. There wouldn't be big government without corporations corrupting it. The government is big because that is how those financial interests (corporations) want it.

what would happen if govt wasn't corrupt and didn't give in to the corps. demand?

 

[Big Smoothy]

In 1968 the minimum wage was $10.50 in real dollars. (Sorry no link.)

I cannot understand how anyone - even a teenager living at home - can earn $7 and some change to $9 per hour and have anything.

 

[LAM]

Yea. GM has corrupted the government soo much. O wait there ran by the government. Insurance companies work so hard to corrupt the government. O wait Affordable care act incoming. Companies do what they have to, to survive.
I pay over $10,000 a year for various licences. If I was just starting a business how the fk would I raise the money required to just pay off the government so i could legally sell my product. YOU CANT. So more people are just falling in line, because the money it takes to pay off the government is outrageous. Why do this? Well every year I get a list of protocols/demands the government forces down my throat. This limits my control and expands government control. I don't Own a $100,000,000 company, but i do own a company that nets sales over $1,000,000. Sound like a lot? Well after taxes, licences, insurance, payroll, and then taxes again on my personal income, it equates to maby 50-75k a year. I'M DONE, GOING TO THE GYM BECAUSE THIS SHIT PISSES ME OFF.

maybe if you bothered to learn US history you would have learned about the "good old days" in the US when there was no government intervention. ah yes the late 1800's and early 1900's was just a dance around the maypole for US labor workers....good times for all

 

[LAM]

In 1968 the minimum wage was $10.50 in real dollars. (Sorry no link.)

I cannot understand how anyone - even a teenager living at home - can earn $7 and some change to $9 per hour and have anything.

I posted them a couple of days ago but the savings rate per income quintile are quite low:

the annual personal savings rate of the lowest 2 income quintiles is less than 1% annually. with no ability to save wealth creation is mathematically impossible.

 

[Zaphod]

what would happen if govt wasn't corrupt and didn't give in to the corps. demand?

Corporations would simply pay more to corrupt the government. Or they would support and help get corrupt politicians into the positions they need someone in. Same as they do now.

 

[LAM]

what would happen if govt wasn't corrupt and didn't give in to the corps. demand?

look to the highly functioning sustainable economy's in the OECD for that answer, they are plenty of them.

Economic outlook, analysis and forecasts - Organisation for Economic Co-operation and Development

 

[LAM]

GDP Gap: With Germany The Most Efficient Economy, How Will These Other OECD Economies Fare In 2014?

GDP Gap: With Germany The Most Efficient Economy, How Will These Other OECD Economies Fare In 2014? [Infographic]

 

[powerlifter83]

raising the minimum wage only increases the cost to the consumer or costs people jobs/hours. Minimum wage should only be earned by those unskilled laborers and kids still living at home. If you are trying to raise a family on minimum wage or help someone else do it, then you are mentally unequipped for this world. Stop having kids you can't afford.

 

[maniclion]

If you take that line graph and smooth the line by extrapolating out the summer peaks and fall drops, the line will match the same pattern as the total US Unemployment since 2002 through 2012. Regardless of minimum wage the pattern would have followed the same basic curves....

 

[LAM]

If you take that line graph and smooth the line by extrapolating out the summer peaks and fall drops, the line will match the same pattern as the total US Unemployment since 2002 through 2012. Regardless of minimum wage the pattern would have followed the same basic curves....

the ILO wage reports explain how the loss of progressive taxes, wage stagnation and the lack of productivity gains in income lead to the rapid growth of the US financial sector which is now smothering the real economy. it's why the same event hasn't occurred in any other OECD country.

those same findings have been backed up by reports by dozens of other economists inside and outside of the US. the exploitation of labor by capital is a basic principle of capitalism when there is no system in place to put upward pressure on wages. the US having the lowest labor union density rate out of all the wealthy industrialized country's.

it's all spelled out in the 300-400 pages contained in those 2 reports of which apparently not many felt was worth reading.

 

[Little Wing]

i'm so sick of people bitching about welfare and food stamps but turning right around and pissing themselves over the idea of paying workers enough so they can take care of themselves.

yea, yea then you say get a better job... go to school and get a degree... guess what. there will STILL be people taking those shit paying jobs and needing welfare to live as long as we let people pay shit wages to anyone. if you want to end welfare we need none welfare paychecks so stop fucking bitching about welfare or let people earn their way off it. jfc. enough already.

 

[Little Wing]

i read some study a bit ago that said if wages had kept up with inflation min wage would be $24 and change. people are fucking smart enough to say fuck your job and not work for less. if you don't want people on welfare don't make it so it pays better than work does. seems kinda simple. some moms are on welfare because they can provide for their kids better on it than working two damned jobs. you are goin to pay one way or another so it may as well be via a wage people are willing to work for.

 

[Little Wing]

in a way.... in a sick i love my post apocalypse dreams way, i hope people don't smarten up and they see what happens. read about who REALLY is making minimum wage. a lot are family breadwinners and college graduates. it's not a matter of min wage being some hs kid's first job, it's people supporting kids. in 35 states welfare pays better than min wage. so fix it or fuck you.

sorry, too busy to play nice

 

[Little Wing]

and instead of things costing more how about those walmart cocksuckers just don't pay themselves so much. it's not a given that inceasing min wage will increase costs it's just ceos still want their fat cocksucker profits. give me a break. the cost of soap doesn't go up just because fluffy's groomer gets a little extra. the shop owner just needs to play fair.

 

[Little Wing]

Welfare recipients in Hawaii get the most benefits, according to Tanner, at $29.13 per hour - or $60,590 pre-tax income annually. However, the state's minimum wage is only $7.25 per hour, according to the Labor Department. Hawaiians on welfare also earn 167 percent of the median salary in the state, which is only $36,275.

The District of Columbia, Massachusetts and Connecticut have the next more generous welfare benefits.
D.C. welfare recipients can earn $24.43 per hour. In Massachusetts they can get $24.30 per hour. In Connecticut welfare recipients can receive $21.33 per hour.

Read more: Study: welfare pays more than work in most states | The Daily Caller
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what would Jesus do?
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[LAM]

i'm so sick of people bitching about welfare and food stamps but turning right around and pissing themselves over the idea of paying workers enough so they can take care of themselves.

yea, yea then you say get a better job... go to school and get a degree... guess what. there will STILL be people taking those shit paying jobs and needing welfare to live as long as we let people pay shit wages to anyone. if you want to end welfare we need none welfare paychecks so stop fucking bitching about welfare or let people earn their way off it. jfc. enough already.

it's comical to hear the low wagers champion for poverty wages then complain about poverty, if that's not a complete lack of intelligence I'm not sure what is.

 

[Little Wing]

i think they are listening to their hate bone more than their sense bone.

 

[LAM]

i think they are listening to their hate bone more than their sense bone.

what a miserable existence and utter waste of energy, while I love to bust their chops I pity them more than anything.

 

[LAM]

 

[maniclion]

i'm so sick of people bitching about welfare and food stamps but turning right around and pissing themselves over the idea of paying workers enough so they can take care of themselves.

yea, yea then you say get a better job... go to school and get a degree... guess what. there will STILL be people taking those shit paying jobs and needing welfare to live as long as we let people pay shit wages to anyone. if you want to end welfare we need none welfare paychecks so stop fucking bitching about welfare or let people earn their way off it. jfc. enough already.

As soon as all of those people get a degree for a better job the employers will decide they now have a huge supply of employable people with degrees and the base income will plummet, but you can bank on CEO and other executive pay will go up for keeping the corporation going and being the glue that holds it a ll together, screw those workers that obviously only exist to absorb profits that should go to executives and shareholders ....

 

[Bowden]

As soon as all of those people get a degree for a better job the employers will decide they now have a huge supply of employable people with degrees and the base income will plummet, but you can bank on CEO and other executive pay will go up for keeping the corporation going and being the glue that holds it a ll together, screw those workers that obviously only exist to absorb profits that should go to executives and shareholders ....

They already do have "a huge supply of employable people with degrees".
The number of college graduates that cannot find jobs is high.
Many of those that have jobs are working in jobs that do not require a college degree.
They also are earning high school graduate level wages.
Great huh?
Try paying off a college student loan and living away from your parents basement at that level of income.

Recent college grads face 36% 'mal-employment' rate - Jun. 25, 2013

 

[Little Wing]

Welfare recipients in Hawaii get $29.13 per hour

aloha...