American Wages, the Minimum Wage and Income Brackets

Discussion in 'Economics & Trade' started by Kari Sims, Mar 25, 2019.

  1. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    Anti laborer. Who the hell should work for the official Minimum Wage of $7.25 an hour ($7.25 x 40 x 52 = $15,080 per year), when the Poverty Threshold (for a family of 4) has already been established at $24,000 a year?

    What planet do you live on ... ?
     
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  2. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    You hope ...
     
  3. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    What expensive industrial product can be made with employment paid at the Minimum Wage.

    Where? Who? Workers changing beds at hotels!

    Wakey, wakey! The Industrial Age is long, long gone and the Information Age is upon us! (Meaning nowadays ya gotta have a brain and know how to use it in order to find decently well-paid work!)

    Unlike some on this forum with their one-liner jabber ... !
     
    Last edited: Apr 14, 2019
  4. yasureoktoo

    yasureoktoo Banned

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    Since you apparently spend little time outside your fantasy world I'll help you.
    If you pay higher wages, you have to absorb that somewhere.
    Raising the price of your product is usually the only way.
    The owners are certainly not going to take cuts.
    Some companies go out of business when the labor costs go up.
    Others cut their labor force and put the burden on the existing employes.
    There are lots of products we cannot even compete with, because some 3rd world country uses child or slave labor.
     
    Last edited: Apr 14, 2019
  5. danielpalos

    danielpalos Banned

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    Inflation happens, regardless. And, business gets to expense the cost of Labor. And, higher paid labor pays more in taxes and creates more in demand.
     
  6. yasureoktoo

    yasureoktoo Banned

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    And creates a more expensive product.
    It's a never ending cycle.
     
  7. danielpalos

    danielpalos Banned

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    so what? it is natural under Capitalism.
     
  8. yasureoktoo

    yasureoktoo Banned

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    Well, maybe you should move to a communist country.
     
  9. danielpalos

    danielpalos Banned

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    You are the one complaining about a cost of living adjustment under our form of Capitalism.
     
  10. yasureoktoo

    yasureoktoo Banned

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    I'm not complaining, you are, I never worked for minimum wage,
     
  11. Ddyad

    Ddyad Well-Known Member

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    Any mandated wage that is above the market generated wage will eliminate jobs and employers.
    Subsidies for low wage unskilled workers would be far better than a mandated minimum wage.
     
  12. Ddyad

    Ddyad Well-Known Member

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    Millions of unskilled uneducated Americans are worth close to nothing to potential employers.
    Government should subsidize wages for this class of potential workers to get them into the productive workforce.
     
  13. yasureoktoo

    yasureoktoo Banned

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    Or cull the herd.
     
  14. Ddyad

    Ddyad Well-Known Member

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    - especially once they cr
    Human beings who want to work and will work hard are very valuable - especially after they have created a work history. Idled unskilled labor is a wasted valuable national asset.
     
  15. yasureoktoo

    yasureoktoo Banned

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    Or a burden on society.
     
  16. Ddyad

    Ddyad Well-Known Member

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    Productive workers are only a burden on society when they are idled by misguided government programs and laws.
     
  17. yasureoktoo

    yasureoktoo Banned

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    Yeah, that's a good excuse.
     
  18. Ddyad

    Ddyad Well-Known Member

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    Big Government is the root of most evil.
     
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  19. danielpalos

    danielpalos Banned

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    you don't complain about taxes?
     
  20. danielpalos

    danielpalos Banned

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    Capitalism has a natural rate of unemployment. There can be no, "race to the bottom" in a First World economy. Why should we care if Capitalists who can Only make it on Cheap labor, fail?
     
  21. yasureoktoo

    yasureoktoo Banned

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    No, because I know what they do.

    Sometimes I complain locally about certain roads, etc.
     
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  22. yasureoktoo

    yasureoktoo Banned

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    Because if you are a consumer, they might have a good product.
     
  23. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    Good idea!

    You first ... ?
     
  24. yasureoktoo

    yasureoktoo Banned

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    I pay my way, did all my life.
     
  25. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    I know how businesses are run.

    Raising the price of products/services to cover wage increases will simply mean buyers will pay more for them - which means profit-margins will be lower.

    No sweat, because (on the other side of the coin) with general wages higher, and particularly at the low-end of the Income Spectrum, people will be buying a great many more products/services.

    Margins on that higher volume of business will be lower, but profits will nonetheless be good-enough. It's win-win situation on both sides.

    What can stop it is if the wage increases become too high, and, yes, that can trigger a downturn and even a recession.

    Still, we are not talking about the entire workforce, but only that part that works at a wage below $15K a year (Poverty Threshold).

    A MW of $15 an hour means $30K yearly for that same family. Meaning they are well enough above the Poverty Threshold to live comfortably, and afford to send their kids onto a postsecondary education.

    That alone will do wonders for the economy - but it will take an entire generation to succeed ...
     
    Last edited: Apr 14, 2019

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