Warning : Above post may contain snark and/or sarcasm. Try reparsing with the /s argument before replying.
What the world has learned is that America is never more than one election away from losing its goddamned mindMe on Elite : Dangerous | My WoW charactersOriginally Posted by Howard Tayler
I still can't get over $15 /hr min wage. I guess it makes sense in CA, but damn that's double the min wage where I live. That's why I don't see how raising the min wage of the whole country to $15 /hr makes any sense. They got people fighting over $10 /hr. jobs at Walmart right now because of the down turn in oil. (Thanks John Kerry and Barack Obama, we really appreciate that Iranian deal. We can't wait until Hillary and her Saudi friends starve us to death.)
Minimum wage isn't $15 yet, we won't see it until 2021 January first. At the moment Minimum wage is $10 per hour. The city of Seattle does have a $15 minimum wage though they would be the ones to watch. So far it hasn't proven to be detrimental.
http://www.seattletimes.com/business...mum-wage-hike/
http://www.cheatsheet.com/business/n...tml/?a=viewall
http://www.fastcoexist.com/3059118/a...-retail-prices
Though we'll see how this changes overtime. By the time California reaches it's $15 in about 5.5 years from now it might not be such a big deal. California does have a higher minimum wage than other states but California does have a higher cost of living to balance it out.
Who would have thought a hike in the minimum wage would be detrimental? (Sarcasm) anyway an increase on the minimum wage is not the problem but the amount it has been increased.
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Each state is different. That is why the federal minimum wage is "low" to allow flexibility for other states.
Last edited by Bollocks; 2016-07-24 at 02:50 AM.
Oil was already very low even before the Iranian deal, the reason for the plunge of oil is because OPEC broke down thanks to the Saudis always taking it on the chin while countries like Venezuela and Russia keep pumping. It's not really any of these people you are blaming unless you are against an open market, all OPEC was doing was artificially keeping the price up.
It's not bad enough these people trap themselves in a sewage infested bottle, they have to try and stick everyone else in it too, because their brains can't fathom anything else. Thanks!
artificial increases in wages are not a sign of good economics and hurt the employer
THE MARKET PAYS WHAT THE MARKET WILL BEAR
So much for "fair" distribution of wealth.
http://www.businessinsider.com/inequ...u-think-2015-6
Here is one of the more shocking charts, which reveals that the bottom 80% of Americans have just 7% of the nation's wealth:
I realize that people in STEM fields, or trades, or CEO's should probably make a bit more money, but god damn ... if some of that wealth was actually distributed to the lower / "middle" (lol what middle?) class in the form of jobs ... I wonder what crime, poverty, and drug use would look like afterwards.
Yeah I don't feel like busting out Thomas Sowell videos just yet but will if necessary lol. We do know for sure that raising the minimum wage effects the youth, and in many cases, minority youths more than anyone else. We've seen this often in America, but if you want links, here's some:
http://wol.iza.org/articles/effects-...and-income.pdf
http://fortune.com/2015/07/30/122372...ers-fast-food/
http://www.usnews.com/news/the-repor...r-hurt-workers
I could post 50 more but you get the idea. This is a pretty huge deal because many of these folks already have trouble breaking into the work force. An unstable work history makes it much harder to land higher pay jobs down the road, for obvious reasons. Essentially it's exacerbating the problem of poverty for *some* in the work force, but of course not all. There is no doubt that many at the same time will be able to get jobs and benefit from the higher wages - but at what price to the rest?
So while you personally may feel that the minimum wage increase is not a big deal for small deal to businesses, it seems pretty clear that not only would small businesses disagree, but so would the people who look to them for jobs.
Maybe the Unemployment rise is due to a larger population without as many jobs going with it.
Now for actual economists this result is not surprising whatsoever. Its been known for a good few years now that its a lack of aggregate demand that is holding the economy back not tax rates. All that California is really doing is taxing away a bit more of the massive surplus of unused income of the wealthy and putting it back into circulation in the real economy. So instead of pumping up asset prices of one sort of another it creates real-world economic activity.
Of course CATO et al are not full of real economists but paid shills.....
Iran didn't make a dent compared to what was already been unleashed on the market once the Saudis decided they were going to go for market share and not let U.S oil production and other countries take over. The race got started there with every country trying to compete , the current price of oil is the price is where it should have been all along. The people on the gulf may have lost their jobs but economy got a boost from it since people now pay a lot less at the pump.
As for the Iranian deal it's an investment in the future, this belongs in another thread and obviously opinions will vary.