DriveInDriveOut
Inordinately Right
wrong
Democracy is for people amendment
- Thread starter 804brown
- Start date
Businesses pass the cost onto consumers. The higher costs slows purchasing. Layoffs ensue.
DriveInDriveOut
Inordinately Right
wrong
HBGPreloader
Well-Known Member
This article seems to indicate that increasing the minimum wage does negatively affect low wage workers...
UW study finds Seattle’s minimum wage is costing jobs | The Seattle Times
It notes...
"The city’s escalating minimum wage has meant a slight increase in pay among workers earning up to $19 per hour, but the hours worked in such jobs have shrunk, a study commissioned by the city found. It estimates there would be 5,000 more such jobs without the Seattle law."
DriveInDriveOut
Inordinately Right
wrong
Debunked
HBGPreloader
Well-Known Member
So, the study specifically sanctioned by the city and paid for by the Taxpayers is wrong?
DriveInDriveOut
Inordinately Right
Plenty of articles detailing everything wrong with the study and the misinterpretation of the data reported by some in the media.
It's old news.
1989
Well-Known Member
I think it’s still too early to tell....
but the city or state came out right away to debunk it. All they did was call out what COULD be flawed. They didn’t do any research themselves, their only purpose was to discredit the UW study.
1989
Well-Known Member
I think the states need to step up and not take a pass on it. Many states done it.isnt federal min wage low?
its also not hard for me to imagine because median wage is not that high. in addition to the assertions ive heard about poverty / near poverty.
I ask you to quantify, in dollars, so that our discussions can have a baseline. For example, your post here, doesn’t say much. Very murky since minimum wage is anywhere between $7-$15.
ahh okay i was talking about federal min wage, and peak min wage purchasing power was 1968 and i forget what that works out to in todays dollars.
Sigh. I'd like them to be paid more too.
1989
Well-Known Member
1968 minimum wage was $1.60
2018 Inflation adjusted is $11.45.
sure, ralph mentioned it today.
TearsInRain
IE boogeyman
minimum wage is a scam
it should be abolished but replaced with a lot of other worker protections to balance it out
it should be abolished but replaced with a lot of other worker protections to balance it out
1989
Well-Known Member
Warren Buffett doesn’t like the minimum wage. He would like to see a minimum income instead.
UpstateNYUPSer(Ret)
Well-Known Member
Regardless of one's efforts to earn it?
1989
Well-Known Member
If they are working:
In my mind, the country’s economic policies should have two main objectives. First, we should wish, in our rich society, for every person who is willing to work to receive income that will provide him or her a decent lifestyle. Second, any plan to do that should not distort our market system, the key element required for growth and prosperity.
That second goal crumbles in the face of any plan to sizably increase the minimum wage. I may wish to have all jobs pay at least $15 an hour. But that minimum would almost certainly reduce employment in a major way, crushing many workers possessing only basic skills. Smaller increases, though obviously welcome, will still leave many hardworking Americans mired in poverty.
The Earned Income Tax Credit
Buffett instead has promoted what he sees as a better answer: an expansion of the Earned Income Tax Credit (EITC), which currently goes to millions of low-income workers.
“Payments to eligible workers diminish as their earnings increase," he explained. "But there is no disincentive effect: A gain in wages always produces a gain in overall income. The process is simple: You file a tax return, and the government sends you a check."
For Buffett, the EITC is a better solution because it's about more than just money.
"In essence, the EITC rewards work and provides an incentive for workers to improve their skills," he continued. "Equally important, it does not distort market forces, thereby maximizing employment.”
Buffett added that the plan needs improvement, including reducing fraud, shifting payments to monthly installments from annual, and increasing dollar amounts for those earning the least.
Over here in Georgia McDonald's has kiosks that work really well to order what you want. Still have people making the sandwiches and they will wait on you at one register if you want. And this is in a country where people are poorly paid to begin with. Coming soon to a McDonald's near you.
guys i listen to are either in favor or against minimum income.
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