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Old 05-10-2014, 01:03 PM  
Count Alex's Wins Count Alex's Wins is online now
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Should the minimum wage be raised to $20/hr?

Seems like that would provided everyone with a comfortable living.

http://www.cepr.net/documents/public...e1-2012-03.pdf

Quote:
Using wages as a benchmark, in 1968 the federal minimum stood at 53 percent of the average production worker earnings. During much of the
1960s, the minimum wage was close to 50 percent of the same wage
benchmark. If the minimum wage were at 50 percent of the production
worker wage in 2012 (again, using CBO projections to produce a full-year
2012 estimate), the federal minimum would be $10.01 per hour.

A final benchmark for the minimum wage is productivity growth. Figure
2 below compares growth in average labor productivity with the real
value of the minimum wage between the late 1940s and the end of the
last decade. Between the end of World War II and 1968, the minimum
wage tracked average productivity growth fairly closely.

Since 1968, however, productivity growth has far outpaced the minimum wage. If the minimum wage had continued to move with average productivity after 1968, it would have reached $21.72 per hour in 2012 – a rate well above the average production worker wage. If minimum-wage workers received only half of the productivity gains over the period, the federal minimum would be $15.34. Even if the minimum wage only grew at one-fourth the rate of productivity, in 2012 it would be set at $12.25.
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Old 05-11-2014, 11:02 AM   #31
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Quote:
Originally Posted by Count Zarth View Post
Seems like that would provided everyone with a comfortable living.

http://www.cepr.net/documents/public...e1-2012-03.pdf
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Old 05-12-2014, 09:35 AM   #32
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Here's your main problem with an increase like that....I'm not going to pay the prices with my shopping behavior.

For example...I am not going to pay 12 bucks for a breakfast sandwich.

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Old 05-12-2014, 09:51 AM   #33
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Instead of $21 per hour lets make it $50. Same difference. All it will do is cut jobs. Small businesses can barely keep employees anyway because of all the Employment Taxes. Add the health care expenses and you would be looking at a massive cutback in available jobs.
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Old 05-12-2014, 09:52 AM   #34
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Old 05-12-2014, 09:54 AM   #35
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Quote:
Originally Posted by Aries Walker View Post
The $20/hour number is thrown around as an illustration, to show how much the middle class's purchasing power has incrementally dropped over the years.

No one's really advocating a $20/hour minimum wage. It's not going to happen.

Rest your sphincters.
I don't know about that. I think Loneiguana would be on board.
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Old 05-12-2014, 10:13 AM   #36
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Originally Posted by Count Zarth View Post
Economics Should the minimum wage be raised to $20/hr?
minimum wage should vary depending on the cost of living at a location. The purchasing power of $20 in LA or NY is much different than in the midwest. That being said, there are issues that need to be dealt with far more important than minimum wage.

In a global marketplace, municipalities are not only competing with other countries for buisnesses, but also competing among states and local governments. This ends up being a "race to the bottom" in which municipalities offer tax breaks, easier corporate laws and incentives that amount to corporate welfare.

Americans undermining other Americans with incentivized corporate welfare needs to be addressed. Increasing the minimum wage, only to subsidize that to select employers, just ends up taking money out of one tax payers pocket and sticking it in anothers.
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Old 05-12-2014, 05:37 PM   #37
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Quote:
Originally Posted by Garcia Bronco View Post
Here's your main problem with an increase like that....I'm not going to pay the prices with my shopping behavior.

For example...I am not going to pay 12 bucks for a breakfast sandwich.
Which is why prices wouldn't skyrocket.

Demand sets the price.
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Old 05-12-2014, 05:38 PM   #38
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Originally Posted by blaise View Post
I don't know about that. I think Loneiguana would be on board.
20? You use to accuse me of 15. Keeps going up. Sounds like your butthurt hasn't gone away. Have you tried the cream yet?
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Old 05-12-2014, 05:53 PM   #39
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By all means, let's hasten the entire collapse of the Western way of life when it becomes more cost-effective to replace 75%-99% of the workforce with AI and robots.
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Old 05-12-2014, 06:02 PM   #40
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If I understand the original post correctly, the case they're making for a minimum wage increase is tied to productivity per worker. What they ignore is that much of that productivity comes from improved technology and infrastructure not better/harder workers. Why should the worker be rewarded for the full improvement in productivity while investors who made that increased technology and infrastructure possible get nothing?

Consider a McDonald's cashier. In the 1960s, a McDonald's cashier had to know how to enter the right price on the cash register for each menu item and had to know how to count change. Today's McDonald's cashier has to know how to hit the button with the right picture on it and hand the customer the change that the machine displays for him. Does today's cashier deserve more than 100% more than his 1960s counterpart?
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Old 05-12-2014, 06:58 PM   #41
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Originally Posted by Discuss Thrower View Post
By all means, let's hasten the entire collapse of the Western way of life when it becomes more cost-effective to replace 75%-99% of the workforce with AI and robots.
I know this is a current scare tactic by conservative corporate overlords... but it isn't technically feasible yet.

It turns out, it's harder to automate things that require fine motor skills, even if the job can be considered "unskilled," than it is to automate things require more complex thinking.

It's called Moravec's paradox.

http://en.wikipedia.org/wiki/Moravec's_paradox
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Old 05-12-2014, 07:14 PM   #42
Count Alex's Wins Count Alex's Wins is online now
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Oh yeah it's harder to automate things.

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Old 05-12-2014, 07:17 PM   #43
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Old 05-12-2014, 07:20 PM   #44
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Quote:
Originally Posted by patteeu View Post
If I understand the original post correctly, the case they're making for a minimum wage increase is tied to productivity per worker. What they ignore is that much of that productivity comes from improved technology and infrastructure not better/harder workers. Why should the worker be rewarded for the full improvement in productivity while investors who made that increased technology and infrastructure possible get nothing?

Consider a McDonald's cashier. In the 1960s, a McDonald's cashier had to know how to enter the right price on the cash register for each menu item and had to know how to count change. Today's McDonald's cashier has to know how to hit the button with the right picture on it and hand the customer the change that the machine displays for him. Does today's cashier deserve more than 100% more than his 1960s counterpart?
Don’t Blame the Robots
Assessing the Job Polarization Explanation of Growing Wage Inequality

http://www.epi.org/publication/techn...me-the-robots/


Don't Blame Robots For Declining Wages -- Blame Dissolving Unions

http://www.epi.org/publication/techn...me-the-robots/
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Old 05-12-2014, 07:20 PM   #45
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Originally Posted by Count Zarth View Post
Oh yeah it's harder to automate things.

Do you think robots made those?
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