Announcement

Collapse
No announcement yet.

$22 minimum wage

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • $22 minimum wage

    Note the part in bold, interesting to see them acknowledge the fact that raising minimum wage WILL actually be damaging small business, they are just now disputing just HOW severe the damage it will be.



    Elizabeth Warren: Minimum Wage Would Be $22 An Hour If It Had Kept Up With Productivity

    Sen. Elizabeth Warren (D-Mass.) made a case for increasing the minimum wage last week during a Senate Committee on Health, Education, Labor and Pensions hearing, in which she cited a study that suggested the federal minimum wage would have stood at nearly $22 an hour today if it had kept up with increased rates in worker productivity.

    "If we started in 1960 and we said that as productivity goes up, that is as workers are producing more, then the minimum wage is going to go up the same. And if that were the case then the minimum wage today would be about $22 an hour," she said, speaking to Dr. Arindrajit Dube, a University of Massachusetts Amherst professor who has studied the economic impacts of minimum wage. "So my question is Mr. Dube, with a minimum wage of $7.25 an hour, what happened to the other $14.75? It sure didn't go to the worker."

    Dube went on to note that if minimum wage incomes had grown over that period at the same pace as it had for the top 1 percent of income earners, the minimum wage would actually be closer to $33 an hour than the current $7.25.

    It didn't appear that Warren was actually trying to make the case for a $22 an hour minimum wage, but rather highlighting the results of a recent study that showed flat minimum wage growth over the past 40-plus years coinciding with surging inequality across a number of economic indicators.

    Warren went on to argue that raising the federal minimum wage to over $10 an hour in incremental steps over the next two years -- a cause championed by President Barack Obama in his State of the Union address and since taken up in the Senate -- would not be as damaging for businesses as some critics have argued.
    Stevo
    Originally posted by SSMAN
    ...Welcome to the land of "Fuck it". No body cares, and if they do, no body cares.

  • #2
    How in the fuck..... high school kids don't need to be making $22 an hour.

    Hell 7 years ago I got hired on fresh out of college for that.
    "No free man shall ever be debarred the use of arms. The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government"

    -- Thomas Jefferson, 1 Thomas Jefferson Papers, 334

    Comment


    • #3
      Proof that democrats have never owned real businesses and have no understanding of real economics

      Comment


      • #4
        Originally posted by aggie97 View Post
        Proof that democrats have never owned real businesses and have no understanding of real economics
        The same democrats that say businesses wouldn't take the cheap way out when it came to Obamacare and their employees. Now we see the work hours being cut each week to move people into part time positions from full time.
        Fuck you. We're going to Costco.

        Comment


        • #5
          And "full time" is now 28 hours a week...
          sigpic18 F150 Supercrew - daily
          17 F150 Supercrew - totaled Dec 12, 2018
          13 DIB Premium GT, M6, Track Pack, Glass Roof, Nav, Recaros - Sold
          86 SVO - Sold
          '03 F150 Supercrew - Sold
          01 TJ - new toy - Sold
          65 F100 (460 + C6) - Sold

          Comment


          • #6
            $22 minimum wage will be the days of the $3 basic cheese burger ($.79 today at McD's) and you won't be able to eat lunch at a fast food joint for less then $25-30.
            Fuck you. We're going to Costco.

            Comment


            • #7
              I have a feeling that individual workers are not 3x more productive than they were in the 60's.
              "Any dog under 50lbs is a cat and cats are pointless." - Ron Swanson

              Comment


              • #8
                It's all of the automation and machinery...this had nothing to do with lazy ass workers.

                Comment


                • #9
                  "So my question is Mr. Dube, with a minimum wage of $7.25 an hour, what happened to the other $14.75? It sure didn't go to the worker."
                  Uh, it went to the automation that made the productivity go up. Is this really that hard to figure out?
                  "If I asked people what they wanted, they would have said faster horses." - Henry Ford

                  Comment


                  • #10
                    Efficiencies for every facet of business have increased EXCEPT the output of minimum wage workers.
                    When the government pays, the government controls.

                    Comment


                    • #11
                      Wages have by and large kept pace with inflation since 1972, according to my Econ professor. What thy haven't kept pace with, and what the Democrats seem more preoccupied with, is profits. This is Elizabeth Warren trying to limit executive level salaries. Long story short, she's talking out of her neck again.
                      ZOMBIE REAGAN FOR PRESIDENT 2016!!! heh

                      Comment


                      • #12
                        Originally posted by YALE View Post
                        Wages have by and large kept pace with inflation since 1972, according to my Econ professor.
                        (($7.25/$1.25)^.02) -1 = 3.58% ... Yep, they've kept pace.
                        Originally posted by davbrucas
                        I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

                        Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

                        You and slow99 should date. You both have passive aggressiveness down pat.

                        Comment


                        • #13
                          Originally posted by slow99 View Post
                          (($7.25/$1.25)^.02) -1 = 3.58% ... Yep, they've kept pace.
                          I'm not talking about minimum wage, BTW, but I'll defer to you on the matter.
                          ZOMBIE REAGAN FOR PRESIDENT 2016!!! heh

                          Comment


                          • #14
                            Originally posted by YALE View Post
                            I'm not talking about minimum wage, BTW, but I'll defer to you on the matter.
                            Answer is yes to non- minimum wage.
                            Originally posted by davbrucas
                            I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

                            Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

                            You and slow99 should date. You both have passive aggressiveness down pat.

                            Comment


                            • #15
                              Originally posted by slow99 View Post
                              Answer is yes to non- minimum wage.
                              Many thanks.
                              ZOMBIE REAGAN FOR PRESIDENT 2016!!! heh

                              Comment

                              Working...
                              X