"Businesses that pay less than living wages don't deserve to exist" - President

I am exceptional at math.

Wage rates have nothing to do with inflation.

They are directly proportional to the value they bring to any given job.

This amounts to nothing more than minimum wage workers collectively bargaining the US Government to arbitrarily set their value to an employer.

 

I made a thread that quotes the real wage value. Argue me there please

 

I don't engage in straw man arguments.

real wage value set by industries and markets, not arbitrarily, therefore your point is moot.

 

False. Real wage values are not set. They are controlled by international inflation rates. If you can explain how a real wage value can be set, then I'll believe you aren't talking out your @ss

 

http://www.referenceforbusiness.com/small/Di-Eq/Employee-Compensation.html

"They must also be equitable—that is, the wage must accurately reflect the value of the labor performed. In order to determine salaries or wages that are both equitable for employees and sustainable for companies, businesses must first make certain that they understand the responsibilities and requirements of the position under review

This pretty much sums it up.

 

Seems the robber barons never left.

 

This argument is still fallacious. You did not adequately explain how real wages are determined by the corporations and not inflation rates.

 

You made the claim of inflation rates. you prove it.

And FYI "Real Wages" are based on the previous year. Its a term to check your buying power in relation to a year before.

Because if this was correct minimum wage would need to be over $21 an hour.

 

$15 an hour in addition to welfare benefits is a wage that can keep someone above the poverty line. Any lower is insufficient. I support the changes being made by the president, but it would be far better if wages were raised to $10 for minors and $15 for adults. If we're going to raise the minimum wage to sufficient levels, a separate wage is needed for minors to prevent massive unemployment, similar to what has been done in Australia.

 

Really? Prove that inflation rates affect wage values? Are you denying that USD inflation lowers or raises the value of the dollar, because that's what its sounding like

Yes, and real wages in this situation refers to what the wage would of been if it was maintained with inflation rates.

That's false. I already provided you with two links and a graph showing it would be 10.86$

 

Nobody in the history of labor hollered down the hall for the inflation rate when setting an wage value for a specific job. These are determined by industry and location. The wage value is not a calculation we can perform for any company. Only they can do it.

Now some industries do adjust their labor rates with the inflation rate, but these industries have the capability a building that into their pricing model. Its a zero sum game to them because they recoup everything they expend.

You should know I make my living managing labor and labor rates for large construction projects. If I did not know of which I speak, I would no be doing this for long.

Wages are set to what the market will bear.....more money is paid when demand for labor is up. less is paid when demand is down.


I stand corrected on the $21 comment. I misread the Huffpo title.

 

And the same president who said businesses who don't pay a living wage--whatever that is this week--also implemented price controls to make sure people didn't cut prices to increase business. A tailor in New York City was prosecuted for pressing pants too cheaply.
http://www.patheos.com/blogs/geneveith/2010/09/the-price-cutting-tailor-vs-fdr/

Read the link and see how far we've come to a socialist state that FDR could only dream of.

 

I agree with FDR.