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2/13/2013 5:22:52 PM
61
Obama To Push For Minimum Wage Increase
[url=http://money.cnn.com/2013/02/12/news/economy/obama-minimum-wage/]From his State of the Union[/url]... up to $9/hour. Some states already have minimums above this.
What do you think pseudo-economists of Bungie.net? Good idea or bad idea?
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7 RisposteWhen are Liberals going to learn that the GOP is in the minority and THEY should have all the say on the issues. This is how nobility has worked for centuries. Prices will certainly go up, since they have been so cheap for so long, and WE will NEVER take a pay cut for the actual workers. The nerve of you filthy peasants.
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Its pretty much in line with ours now, though your stuff costs less. Booooo!
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5 RisposteI disagree with this, even though Krugman is most likely cumming over this new development. Damn new-Keynesian economics. According to their principles, unemployment goes up as the minimum wage goes down during times similar to our economic climate.
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1 RispondiIf the minimum wage is not sufficient for a family to be above the poverty line, then it is too low.
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[quote]What do you think pseudo-economists of Bungie.net?[/quote] Lolllllllllll. So troooooooo. But yeah, no, that's a terrible idea. Yes, we need a minimum wage to make sure people are at least making something, but raising it is an absolutely terrible idea. Inflation will undoubtedly increase while worker productivity will almost certainly plateau.
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2 Risposte[url=http://www.huffingtonpost.com/2013/02/13/minimum-wage-productivity_n_2680639.html?icid=maing-grid7|hp-laptop|dl3|sec3_lnk3%26pLid%3D270352]If the minimum wage kept up with productivity, it would be $21.72 per hour.[/url]
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As long as something decisive is done. Just limit the uncertainty and the market will adapt. No single move (aside from a MASSIVE rate increase by the Fed) can kill a recovery. In the short term the increased pay should increase consumer spending, which in turn should get some hiring going. This will likely be short lived, as inflation always catches up with a pay increase. Like it or not, we all shop at the company store. What hurts economies is FUD. Uncertainty is the worst. So, do this in an orderly fashion, make sure that some common sense is shown, and everyone knows what's due and when, and this will would work.
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14 Risposte$9 an hour is still too low. Americans are so deluded in their economic policies, mainly due to their republican parties insanity.
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So obama has hit america again? Enjoy all products sold by companies with minimum wage workers being more expensive.
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3 Rispostelol, Companies are so obsessed with their bloated margins that prices will go up anyway. Making 100% margins on your goods? NOT ENOUGH!
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Raising the minimum raises prices and costs of everything. If anything we should eliminate the minimum wage.
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2 Risposteminimum wage in canada is like 10.25 but at the same time everything is way more expensive here. i think its 13% tax and then also its like 700k just to own a piece of crap house in vancouver or in victoria. no joke. my dad sold our old piece of crap house for 700k. it wasnt the house that was worth money because they tore it down and built 2 small houses with no yard on it
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Modificato da Magical Robot: 2/14/2013 10:49:21 AMMinimal wage jobs will suffer for it, and it will be harder to get hired. Meaning it will be harder to get job experience meaning it will be harder to get jobs entirely. Fast food prices may raise to even it out, witch would reduce purchases. Or more people will be hired and hours will be cut . with would mean every body would need two or more jobs just to work a full week.
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9 RisposteModificato da Comrade Napoleon: 2/14/2013 12:59:56 AMAssuming someone works 40 hours a week at the current federal minimum wage, which is $7.25, the take home pay after taxes for someone with no dependents is [b]$13,926[/b] a year. How people pay for food, rent, utilities, a phone (yes you twats a phone is a necessity in the 21st century) and other expenses is beyond me. If it is raised to $9.00 per hour, yearly salary in the same above conditions is [b]$17,133[/b]. For someone living on that threshold, that's going to make a huge difference. So in the end, a raise in the minimum wage is something that we've been needing for quite some time now.
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2 RisposteYeah, the MULTI MILLION DOLLAR salary of the CEO won't effect the price of goods, Just the guys making less than $10 an hour. ROFLMAO You people are too retarded for words.
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I think it's pretty awesome. Good on Obama.
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2 RisposteGood. As the value of money lowers, the minimum wage should raise.
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In Australia the min wage is more than $15/hour - it's a question of productivity improvements and meeting an equilibrium. Increasing the minimum wage can take people off of welfare and simply reduce inequality if it's implemented at the right time. Granted, probably not a good idea to induce a shock to the labour market in the US at the moment. In principle however not a bad policy.
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Now businesses can higher less people... People who can't afford to live off $8 an hour wont be able to make ends meet with $9 an hour.
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2 RisposteIts 10.25 here in Canada!
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good idea, bad timing get more people employed, get the economy better and stable then do that. right now, companies are struggling enough especially small businesses. increasing minimum wage will force those companies to either stop hiring, let some employees go, and raise their prices so they can still make money
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29 RisposteJust another thing to add to his list of blatantly stupid ideas and proof that he has no understanding of economics.
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yay; more money for poor people.
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Modificato da Hoggs Bison: 2/14/2013 1:38:30 AMBad idea. I think. I dunno.
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3 RisposteModificato da DeclinedA1: 2/14/2013 12:52:13 AMIt is basic supply and demand. If the price of labor is placed above the equilibrium price, it will create a surplus of labor, thus resulting in more unemployment.
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1 Rispondi> Is 19 > No experience at all > Started work two weeks ago > Work as a retail assistant > Earn $18/hour Australia is awesome.
