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November 8, 2015 at 2:24 am #818751
JKBParticipantI posted this because I thought it was more interesting than dog poop: http://money.cnn.com/interactive/economy/minimum-wage-since-1938/
Now the thread is gone. We have seen this before. TR/WSB, are we having technical issues?
Or if someone complained, how about doing it publicly? Seems an unlikely topic to be a problem, but let’s have that conversation.
November 8, 2015 at 2:59 am #828917
JKBParticipantFor instance, anyone care to take an analytical crack at the difference between federal, state, and local minima?
Or at the social question of workers unable to afford residence in the neighborhood where they work?
November 8, 2015 at 5:06 am #828918
redblackParticipantthat’s an interesting graph.
it has apples and oranges.
not sure what you’re getting at, though, JKB.
what’s your take on minimum wage versus economic parity? are you saying that the federal minimum wage is fair and liveable at $7.35 an hour?
November 9, 2015 at 1:36 am #828919
JKBParticipantJust noting that the federal minimum has been pretty consistent over time – its livability isn’t really different now from what it’s been since 1950.
And obviously the cost of living varies a lot by location. I’d love to see data connecting actual minimum wage in various places with cost of living in those places.
‘Fair and liveable’ is full of assumptions. Is ‘fair’ measured by the value of the work, or by the wants/needs of the worker?
For instance, what of the maids and gardeners who do service work in expensive neighborhoods? Should their employers be required to pay them well enough to live in that neighborhood?
If nobody cares about the topic (dog poop is far more active so far) that’s fine. We can stick with the usual.
November 9, 2015 at 4:36 am #828920
dobroParticipant“For instance, what of the maids and gardeners who do service work in expensive neighborhoods? Should their employers be required to pay them well enough to live in that neighborhood?”
Seems to me that people who work 40 hours a week should be able to live on what they make. Things used to be that way in the pre-Reagan era. I think the minimum wage in a given city (say, Seattle) should give one person enough income to rent and pay utilities on a median priced one bedroom apartment and have that rental amount be approx. 1/3 of their monthly earnings. fifteen dollars/hr probably isn’t enough to make a nut like that for this city.
Does that seem like a fair place to begin?
November 9, 2015 at 5:43 am #828921
JKBParticipantAlso there’s the question of where the money actually comes from. Higher consumer prices? Lower profits to ownership? Reduced employee benefits?
It was difficult when the whole $15 thing started to get estimates on how it would play out. Maybe now there’s real data on what actually happens?
November 9, 2015 at 9:10 am #828922
wsea98116ParticipantMore interesting to whom…? ;)
(Quashed just as we were on the verge of a major breakthrough.)
November 11, 2015 at 12:22 am #828923
JKBParticipantOh look, they’re protesting !
For a higher federal minimum, the article says.
November 11, 2015 at 8:14 am #828924
JanSParticipantso…did y’all read about the guy who took a pay cut, so his employees could all make $70K per year? Business doubled!
November 11, 2015 at 2:28 pm #828925
SmittyParticipantLets pay them 140K and their business might double again?
That story is not all peaches and cream by the way. It’s been under reported (go figure). His business partner left the company – and possibly filed a lawsuit(?) and people who were making 80K are not particularly happy that they now make 10K more for doing a much higher graded job than those now making 70K.
November 12, 2015 at 9:27 am #828926
JanSParticipantand business has doubled….I reiterate…
I have never ever in my life made 70K per year…if I was right now I’d consider myself rich…to each his own, I suppose…
November 12, 2015 at 4:14 pm #828927
JTBParticipantWhat’s really “interesting” if not disturbing is that several Republican candidates for president could get away with flat out misrepresenting the impact of raising the minimum wage in their last debate.
What’s revealing, and disturbing, is that debate moderators representing conservative business media (WSJ) and Faux business media would let it pass without a follow up challenge. Thanks Rupert.
November 12, 2015 at 4:16 pm #828928
JoBParticipantbottom line
if the quality of your business is dependent upon your employees and you want to stay competitive.. decently paid employees who want to keep working for you are a necessity.. not a luxury.
a good employee is not so easily replaced.
November 12, 2015 at 7:32 pm #828929
SmittyParticipantJTB, I think I know what you’re referring to and the “fact checkers” got it wrong.
Carson stated that “Every time we raise the minimum wage, the number of jobless people increases.” This is true.
The “fact checkers” compared the increases against unemployment rate – which does not account for people who have given up looking for work and left the labor force. Not a good check.
November 12, 2015 at 11:17 pm #828930
JTBParticipantSorry, Smitty. It’s not true as Carson asserts. Sometimes unemployment has increased; sometimes it’s decreased.
I won’t attempt to draw sweeping conclusions from an abstract of a research article that is about methodology and focuses on a period which involved a recession and grindingly low recovery. However, I don’t see how the methodology of these researchers accounts for the impact of a higher minimum wage on employees in businesses that derive benefits from selling more goods and services to the lower strata workers who have more spending money.
I do confess confusion about how some states are bound by a federal minimum wage and others are not. Is the federal minimum wage simply a vague suggestion?
November 13, 2015 at 3:57 pm #828931
JoBParticipantJTB
if the debate were in fact a moderated debate it would indeed be astonishing that the moderators allowed such misrepresentations to pass as fact
but it’s not.. it’s an entertainment show
a sad sad reflection on our times that this is what passes for American reality.
as for the minimum wage.. there are enough loopholes in both the state and federal laws to drive a truck through….
in fact.. i am pretty sure some subpar minimum wage workers are driving trucks through it as we speak.
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