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Old 05-10-2014, 12:03 PM  
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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 05-15-2014, 06:00 AM   #91
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I'm not bothered at all. I don't know why you think it takes any significant time, effort or emotion to make fun of you.
It's easy because you're a total spaz.
I bother you enough for you to bring me up in multiple threads.

What are you, like five? Telling someone they have no friends is a grade school insult. Seriously dude, try the cream, you have a bad case of butthurt.
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Old 05-15-2014, 07:03 AM   #92
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Originally Posted by Loneiguana View Post
I bother you enough for you to bring me up in multiple threads.

What are you, like five? Telling someone they have no friends is a grade school insult. Seriously dude, try the cream, you have a bad case of butthurt.
It's ok. No need to spaz.
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Old 05-15-2014, 08:54 AM   #93
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Quote:
Originally Posted by Loneiguana View Post
I bother you enough for you to bring me up in multiple threads.

What are you, like five? Telling someone they have no friends is a grade school insult. Seriously dude, try the cream, you have a bad case of butthurt.
blaise is utterly useless
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Old 05-15-2014, 09:27 AM   #94
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I saw some story this morning where fast food workers want $15/hr starting wage.

do these people not understand supply and demand? and what it will do to the cost of nearly everything?
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Old 05-15-2014, 09:39 AM   #95
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blaise is utterly useless
And you're basically the same poster as loneiguana.
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Old 05-15-2014, 09:40 AM   #96
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Originally Posted by Dayze View Post
I saw some story this morning where fast food workers want $15/hr starting wage.

do these people not understand supply and demand? and what it will do to the cost of nearly everything?
That's too low. Should be at least $25.

- Loneiguana
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Old 05-15-2014, 09:43 AM   #97
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Originally Posted by cosmo20002 View Post
Yeah...I'm going to say that's bullshit. I wonder where they find all these savants with the ability to memorize prices for hundreds of items that are likely frequently changing.
That used to be the case years ago. No, really. But the 2 Aldi locations here both have scanners nowadays. It was also why very few people were qualified to work there and they paid a pretty decent wage for working in a grocery store.
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Old 05-15-2014, 09:44 AM   #98
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Quote:
Originally Posted by Dayze View Post
I saw some story this morning where fast food workers want $15/hr starting wage.

do these people not understand supply and demand? and what it will do to the cost of nearly everything?
No, progressives in general do not seem to understand simple supply and demand economics.
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Old 05-15-2014, 09:49 AM   #99
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Quote:
Originally Posted by Dayze View Post
I saw some story this morning where fast food workers want $15/hr starting wage.

do these people not understand supply and demand? and what it will do to the cost of nearly everything?
Pshaw, it wouldn’t cause inflation. Business owners would just eat the extra cost of operating out of the goodness in their hearts.
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Old 05-15-2014, 09:51 AM   #100
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According to loneiguana McDonalds has an obligation to fund a middle class lifestyle for a single mother of two, with no additional child support, on 40 hours a week.
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Old 05-15-2014, 10:03 AM   #101
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Quote:
Originally Posted by Dayze View Post
I saw some story this morning where fast food workers want $15/hr starting wage.

do these people not understand supply and demand? and what it will do to the cost of nearly everything?
it won't change supply and demand at all because the corporations would just let the increased wages eat into the profits without raising price
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Old 05-15-2014, 11:00 AM   #102
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cool! I make $15 /hr! let's go get a $8 Quarter pounder with Cheese!!
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Old 05-15-2014, 11:08 AM   #103
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Quote:
Originally Posted by Dayze View Post
cool! I make $15 /hr! let's go get a $8 Quarter pounder with Cheese!!
Please see Loneiguana's analysis. The price of Quarter pounders would not change because companies would just eat the extra cost of labor. Businesses don't care about making money. They only exist so people with few skills and little education can have a job.
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Old 05-15-2014, 11:27 AM   #104
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Quote:
Originally Posted by Lzen View Post
No, progressives in general do not seem to understand simple supply and demand economics.
Exactly, when you base decisions off feelings instead of reason, logic and facts tend to not give you the results you want. Much easier to ignore them and prance around in ignorance.
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Old 05-15-2014, 11:29 AM   #105
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Originally Posted by blaise View Post
According to loneiguana McDonalds has an obligation to fund a middle class lifestyle for a single mother of two, with no additional child support, on 27 hours a week.
FIFY
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