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Minimum wage - Page 2

post #41 of 53
Quote:
Originally Posted by a_greer View Post

I just heard Obama promise $9.80 minimum wages...are these people insain?

Do the politicians not understand inflation?

Furthermore, you are not SUPPOSED TO be working a minimum wage job when you have a family...they call it the ladder because you are supposed to climb! These people make it sound like there are 30 year olds making $5/Hr and raising a family on it: I grew up in a poorer home but my folks always made at least double minimum wage!

Basically what I want to know is why in the hell would a person with a wife and kids take a minimum wage job?

Just wondering if Obama ACTUALLY said this, you know when, where, link(s)?

Also, if Obama actually promised $9,80/hour minimum wage. what timeframe did he state, any?

And yes, I know he has a platform advocating a minimum living wage (i. e. COLA adjustments of the minimum wage tied to inflation).

Or is the $9.80/hour figure being taken from the following figure (time period circa ~1968) by a blog or political pundent, or being inferred by other means?

[CENTER]
Minimum wage in the United States[/CENTER]
Every eye fixed itself upon him; with parted lips and bated breath the audience hung upon his words, taking no note of time, rapt in the ghastly fascinations of the tale. NOT!
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Every eye fixed itself upon him; with parted lips and bated breath the audience hung upon his words, taking no note of time, rapt in the ghastly fascinations of the tale. NOT!
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post #42 of 53
Hardy,

You've fallen below the minimum leve of discourse to warrent a response. I'll not waste my time with your fragmentary, misquoting, insult-ridden pseudo reply. I'll let it speak for itself.

"During times of universal deceit, telling the truth becomes a revolutionary act." -George Orwell

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"During times of universal deceit, telling the truth becomes a revolutionary act." -George Orwell

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post #43 of 53
Oh, noes! I have fallen beneath Nick's radar, what's a liberal to do?

It's a good thing you think I am insulting you, otherwise you might not have an excuse to back out...
"In a republic, voters may vote for the leaders they want, but they get the leaders they deserve."
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"In a republic, voters may vote for the leaders they want, but they get the leaders they deserve."
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post #44 of 53
Quote:
Originally Posted by trumptman View Post

Yes we are screwed but this is what happens when you let the government play with currency in the name of platitudes. It is the government that outlawed private money and the ownership of gold in the United States. How do you think those folks felt with FDR signed the gold confiscation act which forced them to sell their gold at $20 an ounce and then immediately dropped the value of the dollar to $35 per ounce. All those people holding all that paper lost an awful lot of value with the swipe of a pen. Worse still as you have noted, the paper pile has been growing every since.

but, this system and its devastating results is not directly due to government, but due to governments being explicitly held to randsom by a small number of invisible unnacountable men in control of the money. That governments then got into bed with these nasty fellas - perhaps because they completely had no other option - is another thing.


Quote:
Money does not have to be based on gold but whatever is used does have to retain and hold value without the government manipulating it. No one wants to work for an hour and then with the swipe of a pen, have the benefits of that work be reduced to that which now requires two or three hours to garner the same value.

no one wants that at all, but that scenario is specifically built into the banking system we use. The government are just powerless puppetts in this system, and the system is completely designed so that in the end, a few people own completely everything.

You might think you are doing alright in life, but eventually this system is going to catch up with you, and you will lose everything - whoever you are. All the richer are doing is delaying the time they will be fucked over by the system compared to the poor.
post #45 of 53
Yeah, bump...but I thought of this thread when I read this...

US military paying 70,000 insurgents $10/day not to be violent.

That comes out to $1.25 an hour.
post #46 of 53
Quote:
Originally Posted by @_@ Artman View Post

Yeah, bump...but I thought of this thread when I read this...

US military paying 70,000 insurgents $10/day not to be violent.

That comes out to $1.25 an hour.

Well that works out to ~$300/month, slightly better than the ~$240/month for unskilled SE Asian laborers building the U.S. Embassy.
Every eye fixed itself upon him; with parted lips and bated breath the audience hung upon his words, taking no note of time, rapt in the ghastly fascinations of the tale. NOT!
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Every eye fixed itself upon him; with parted lips and bated breath the audience hung upon his words, taking no note of time, rapt in the ghastly fascinations of the tale. NOT!
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post #47 of 53
Quote:
Originally Posted by MarcUK View Post

but, this system and its devastating results is not directly due to government, but due to governments being explicitly held to randsom by a small number of invisible unnacountable men in control of the money. That governments then got into bed with these nasty fellas - perhaps because they completely had no other option - is another thing.

While I see plenty of evil in fiat money, I see little in banking and charging interest. The issues that the video forgets to deal with to keep it completely honest are growth, productivity and time. When you take a loan for a home for $100k you do end up paying back a much larger pie of about $267k. However that is not immediate but rather over thirty years. If a loan allows purchases that improve productivity, the pie has been grown. Government can determine the fractional multiplier for reserves and issues the actual currency in paper form.

The problem at the core though is that while the money supply is supposed to stay consistent to the overall growth of the economy. The government has instead allowed it to grow faster or even intentionally made it grow faster than the economy which causes inflation and dilutes the value of the entire money supply.

Quote:
no one wants that at all, but that scenario is specifically built into the banking system we use. The government are just powerless puppetts in this system, and the system is completely designed so that in the end, a few people own completely everything.

You might think you are doing alright in life, but eventually this system is going to catch up with you, and you will lose everything - whoever you are. All the richer are doing is delaying the time they will be fucked over by the system compared to the poor.

While the government can destroy the value of a currency, it cannot destroy the value of items which have inherent value. This is in partly why I own real estate because it is the perfect hedge against inflation. Assets remain assets even in the absence of currency. If you have chickens and a farm. You can still raise the chicks, sell the eggs etc. You may have to barter them versus converting their value to currency to more easily spend later but the value is intrinsic.

So in this regard inflation cannot harm the rich. the real problem is that the poor have no assets and the middle class often have liabilities that they believe are assets. Is your home an asset? My view is no. My view of an asset is that it must put money in your pocket. People think their wedding rings, golf clubs, cars, big screen televisions, etc. are assets. In reality, if they were in a financial pinch, they would sell for cents on the dollar. The other side of this is that credit becomes VERY expensive and thus the middle class begins missing out on opportunities that they can no longer afford to finance, things like college and forming small businesses. So upward mobility becomes harder to achieve.

"During times of universal deceit, telling the truth becomes a revolutionary act." -George Orwell

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"During times of universal deceit, telling the truth becomes a revolutionary act." -George Orwell

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post #48 of 53

The state is nothing more than a criminal gang writ large.

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The state is nothing more than a criminal gang writ large.

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post #49 of 53
Jobless Summer

Quote:
Back on planet Earth, the minimum wage increase has coincided with the plunge in the percentage of working teens. Before the most recent wage hikes, roughly seven million teens were working. Now there are closer to five million with a job and paycheck.

Black teens have had the worst of it, with their unemployment rate rising to 41.6% in April from 29% in 2007, faster than almost any other group. A 2010 study by economists William Even of Miami University of Ohio and David Macpherson of Trinity University found that as a result of the $2.10 increase in minimum wage, "teen employment dropped by 6.9 percent. . . . For the teen population with less than 12 years of education completed, teen employment dropped by 12.4 percent." For teens priced out of the labor market, their wage fell to zero.

The great tragedy is that even discussing the role of the minimum wage in teen unemployment seems to be a political taboo. The other day we saw ABC's George Stephanopoulos baiting Michele Bachmann on the minimum wage, as if refusing to raise it would be some epic political gaffe. Ms. Bachmann didn't back down from saying that the minimum wage has contributed to unemployment, though she didn't explain why.

The great tragedy is that even discussing the role of the minimum wage in teen unemployment seems to be a political taboo.

What she or another candidate should do is stop playing defense and ask why Mr. Stephanopoulos doesn't seem to mind a black teen jobless rate of 41.6%. Someone truly brave would come out for a teenage sub-minimum wage of, say, $4 an hour. In certain circumstances employers can now pay teens a minimum of $4.25, but only for 90 days. This makes employers reluctant to hire at all. Make the case on moral grounds that a mandated wage that is too high blocks the young and unskilled from grabbing a place on the economic ladder.

My 11 year old son has been coming to me with an ever increasing list of wants. I want....I want....I want.....

What he will want is a job, is what I will tell him. Too bad people will have no choice but to give him a career or nothing because that is what the choice is out there right now thanks to ever increasing minimum wages.

"During times of universal deceit, telling the truth becomes a revolutionary act." -George Orwell

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"During times of universal deceit, telling the truth becomes a revolutionary act." -George Orwell

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post #50 of 53
Quote:
Originally Posted by sammi jo View Post

Let me see here. Where I live in CA, the average rental for a studio apartment is about $1200-$1500 a month. With minimum wage at that $5 an hour you quoted....this brings in about $800 a month, perhaps down to $650 after deductions. People on minimum wages working a full 40 hour week thus will make about half their monthly rent.. and thats before the other essential expenses of life are even considered. So a minimum wage worker working two full 40 hour week jobs can just about make the rent, if he/she is lucky. However, working three full 40 hour jobs per week and he/she has the princely sum of $300-$500 per month to live on. Wow! There are 168 hours in a week, so that leaves a person working 3 fulltime jobs with over TWO hours per day to sleep, eat, and not to forget of course, commuting to and from 3 jobs, (etc etc)... when they should be working! Perhaps there should be a training course that allows minimum wage workers to be able to bilocate, so they can work two jobs in two places at the same time. If yogis can do it, then there's no excuse.

Working people never had it so good!

~ ~

Be real. Wages paid by minimum wage jobs are for those living at home with mom and dad. End of story.

Let me guess...we should guarantee a "livable wage," whatever the hell that means.
I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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post #51 of 53
Quote:
Originally Posted by SDW2001 View Post

Let me guess...we should guarantee a "livable wage," whatever the hell that means.

I'd support dropping the minimum wage if it meant enacting a maximum wage.
post #52 of 53
Quote:
Originally Posted by tonton View Post

I'd support dropping the minimum wage if it meant enacting a maximum wage.

In other words: "I would oppose one form of tyranny if another form of it were put in its place".

No, thanks. I advocate freedom.

Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

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Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

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post #53 of 53
Quote:
Originally Posted by jazzguru View Post

In other words: "I would oppose one form of tyranny if another form of it were put in its place".

No, thanks. I advocate freedom.

I believe that is what he was saying, yes. And I'm with you.
I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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