Minimum wage in 1974 was $10/hr .....

Against? Never.

 

theres no books against a minimum wage?

 

That's true. Producing better products than China ever could helps them..

Also, their school system is structured in such a way that their children can actually get a relevant education prior to entering the workforce, including doing some internship work and so on. I know we have that here to some degree, but I still get the impression that the Germans are putting more into education and actually getting it right where we fail miserably, both in schooling and in simple economic management. They also seem to have closer integration and cooperation between business and government there with robust training and certification programs, again associated with their education system as well as with private businesses. I guess I'd sum it up by saying their governments and businesses are closely integrated and cooperate effectively.

I would like to see something like that attempted here on the state level.

 

Were not even talking about the same subject

 

you were talking about books and if you switched topics all of a sudden, then i missed that

 

This may come as a shock to you but the 1970s were not a high-water mark of economic prosperity.

 

Why do you think only fast food places pay minimum wage? Tell me when money supply hasn't increased in the last fifty years?

 

No, the economy sucked in 1974 and median income grew under Reagan. Do you have any evidence at all that the poverty rate drops because of minimum wage hikes? Real wages rise? Never even bothered to look huh? Typical leftist. No data, no logic, all emotion.

 

You still have not proved you claim which at best were overboard

 

Why do you think minimum wage should be increased? Is it better to make it illegal to have a job if you can't produce $10 an hour? For who, the people who can?

 

12 dollars an hour or it needs to reflect a percentage of the CEO! So if a CEO makes 15,000,000 the employee should make .75% or 112,500. After all if the CEO is grossly over paid so should the person doing all the hard work.

 

So like the Walmart CEO should give $6 to ea of his employees? (His salary divided among his employees, mcDs is less) How does that pay for one days tax burden? Any other CEOs whose salary split up would pay a weeks worth of the taxes you impose on people?

Why should people who can't earn $12 be barred from working? How does that help them? Any data at all that a higher minimum wage reduces poverty? Any whatsoever? Still believe it whole heartledly though right? Why is that?

Why don't you employ these people at the wages you think fair? Please don't dodge this easy question like every other leftist on this board.

 

Thats like saying the towl boy for the Denver Broncos should be making $150 grand a year

 

Why do you think I think that?

Why should I tell you that?

 

In order to raise the minimum wage you will also have to increase the money supply... that or institute wage and price controls and spend forever after dealing with a robust black market and shortages.

And of course the cost of legal services will go up because the cost of millions of ancilaries without which you cannot run an office will go up, And like every other half way intelligent business man when his costs go up so will his prices.

 

Absolutely not true.

The market will make the corrections.

That depends on the market.

 

Then I don't have to raise the money supply to raise prices.

Prices will go in the same direction as costs, because that's what the market dictates. The relationship won't be one to one because in a competitive Market various players will try to use a combination approach to gain a competitive advantage, at least in pricing. However the difference between a one to one correlation and what you get will be fairly minimal and it won't happen instantaneously. Like any other load of crap it takes a while for minimum wage hikes to pass through the system.

 

There will be a votation about a min wage of 22chf in switzerland in few months. But I don't know if this is a good idea or will pass since :

the poor won't agree since because of the market this would imply higher life costs
the rich bosses would have to pay more
the worker just under will have more stree (since more money has a counterpart)

Anyhow I think the minimal wage is the beginning of a kind of communism in the economy, it rigidifies it (the wage should depend on each job) ?

What were the effects of the min wage in the US ?