The $15 minimum wage...

[ladylin]

bottom line is that the price of living will go up along with the minimum wage. there will always be people who are poor. always. no helping that. the problem with minimum wage going up is that the value of the dollar will go down. you will still have trouble with paying your bills.

Prices steadily rise all the time and minimum wage has not kept up. Where have you been?

[Jaymega]

Why do people keep repeating things that patently aren't true.

We don't know if it is true or not to be honest. I suspect that this will be the case, but what the hell do I know? I say that we just drop it and take a wait and see approach.Remember who runs our country and that we have a FIAT currency. There is a lot of stuff going on that economists argue about that can impact the cost of living.

I say give it 10 years.

[Elegiac]

We don't know if it is true or not to be honest. I suspect that this will be the case, but what the hell do I know? I say that we just drop it and take a wait and see approach.Remember who runs our country and that we have a FIAT currency. There is a lot of stuff going on that economists argue about that can impact the cost of living.

I say give it 10 years.

It's been true never in any country that's raised their minimum wage.

[Wells]

We don't know if it is true or not to be honest. I suspect that this will be the case, but what the hell do I know? I say that we just drop it and take a wait and see approach.Remember who runs our country and that we have a FIAT currency. There is a lot of stuff going on that economists argue about that can impact the cost of living.

I say give it 10 years.

No, we know its pretty much impossible for prices to rise to meet increases in minimum wage because basic math.

[Endus]

We don't know if it is true or not to be honest.

It has literally never happened at any point in the history of minimum wage increases, in any country that has a minimum wage (which includes almost every Western nation)

It is also mathematically impossible, which everyone who's out of middle school should be able to figure out, since it just involves percentages, nothing more complex.

So yes. We know that it isn't possible for prices to rise as quickly as wages, due to that wage increase. There may be another factor that arises at the same time that also affects price, but that other factor is what's responsible, not the wage increase. And without the wage increase, it would still have had the same effect, and the consequences would have been worse.

[Cthulhu 2020]

bottom line is that the price of living will go up along with the minimum wage. there will always be people who are poor. always. no helping that. the problem with minimum wage going up is that the value of the dollar will go down. you will still have trouble with paying your bills.

PRINTING dollars lowers the value of the dollar.

Dollars leaving one hand and going into the hands of someone else (whether by paying for labor or paying for a TV or paying for food) does not lower the value of the dollar.

You need to forget every economic principle you've been taught and start from scratch. While reeducating yourself, stay away from news media and political sites.

[xenogear3]

You need to forget every economic principle you've been taught and start from scratch. While reeducating yourself, stay away from news media and political sites.

Instead believing economists and professors, you want us to believe a stranger on a no life video game website who is making minimum wage?

[Orlong]

PRINTING dollars lowers the value of the dollar.

Dollars leaving one hand and going into the hands of someone else (whether by paying for labor or paying for a TV or paying for food) does not lower the value of the dollar.

You need to forget every economic principle you've been taught and start from scratch. While reeducating yourself, stay away from news media and political sites.

But where do all the new dollars come from that pay for the increases? If businesses arent going to raise prices, and arent going to see a profit decrease, where does the money come from? Someone HAS to be losing money for others to make more, If they are printing more

[Wells]

But where do all the new dollars come from that pay for the increases? =

Increased economic activity. Increased purchasing power means more demand.

[Spectral]

PRINTING dollars lowers the value of the dollar.

This is not uniformly true. Value of a currency relative to goods is not dictated solely by money supply.

[Elegiac]

This is not uniformly true. Value of a currency relative to goods is not dictated solely by money supply.

A prime example being a liquidity trap, which I would argue is at least part of the reason for the halting recovery.

[Cthulhu 2020]

But where do all the new dollars come from that pay for the increases? If businesses arent going to raise prices, and arent going to see a profit decrease, where does the money come from? Someone HAS to be losing money for others to make more, If they are printing more

The increase in production cost has been demonstrated multiple times to be negligible in relation to the buying power increase of minimum wage hikes. There's also a difference between inflation, as in the devaluation of currency, and "inflation" as used by doomsayers who don't know the difference between inflation and increase in production cost.




Are you opposed to a minimum wage hike because you'd lose your job pushing people's welfare checks through? I can see why you'd oppose it, you have a personal vested interest in making sure people stay on welfare.

[Rukentuts]

Conservatives: How does one justify how minimum wages are bad, but subsidies are great?

[Spectral]

Conservatives: How does one justify how minimum wages are bad, but subsidies are great?

Calling it now - disingenuous claims of being against subsidies.

[Captain N]

Conservatives: How does one justify how minimum wages are bad, but subsidies are great?

Adding to what Spectral said - Subsidies are necessary because all the money Corporations save via subsidies are being used to create jobs.

[belfpala]

Conservatives: How does one justify how minimum wages are bad, but subsidies are great?

I just played around with some spreadsheets. If current minimum wage tripled I'd have to increase my prices by about 20% to maintain my current profit. That's fine with me, both as an owner and a consumer.

Subsidies would take more research. I try to keep product cost at a certain point, and it's the biggest part of my cost. Many of the producers of my products rely on subsidies.

(Not conservative, but you know that; just putting on my business hat).

[Felya]

Adding to what Spectral said - Subsidies are necessary because all the money Corporations save via subsidies are being used to create jobs.

It's the folly of pure idealism. Both republicans and democrats want subsidies, the difference in the sort of subsidies they want, is quite small in it's sum of spending compared to what they agree on.

[Cthulhu 2020]

Adding to what Spectral said - Subsidies are necessary because all the money Corporations save via subsidies are being used to create jobs.

Unless the subsidies are specifically for the purpose of creating jobs (as in, if you hire employees, you get this money to subsidize their pay), or if a business would otherwise go under without subsidies but is a necessary service to the community, the only thing subsidies create is more profit.

Trickle down economics is a farce otherwise.

[Rukentuts]

I was referring to the ideology of the "free market" with that comment.

Edit: We can have the federal government subsidize crops, and pay farmers not to plant, but minimum wage? Oh no.

[Captain N]

Unless the subsidies are specifically for the purpose of creating jobs, or if a business would otherwise go under without subsidies but is a necessary service to the community, the only thing subsidies create is more profit.

Trickle down economics is a farce. Subsidies bolster stock numbers.

I was being sarcastic - I would expect Orlong or any of our other hardcore Conservatives to use what I said as a valid talking point though.