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Who is helped by raising the minimum wage
- Thread starter Crabtownboy
- Start date
convicted1
Guest
I'm not opposed to raising minimum wage, but big business will raise their prices to offset the raise. Either way, they get their profits...
North Carolina Tentmaker
New Member
According to the United States Department of Labor, Bureau of Labor Statistics, available here:
http://www.bls.gov/cps/minwage2011.htm
• There were 125 million wage and salary workers in the United States in 2011
• 1.7 million of those earned the federal minimum wage and 2.2 million had wages below the minimum wage. Those 3.7 million workers made up 5.2% of hourly workers and 3.0% of all wage and salary workers.
• The 2.2 million workers earning below minimum wage were in jobs where tips and commissions supplemented the hourly wage received.
• Half of the workers earning minimum wage were 25 or younger. 23% of employed teen agers earned minimum wage while only 3% of workers over age 25 were at minimum wage.
http://www.bls.gov/cps/minwage2011.htm
• There were 125 million wage and salary workers in the United States in 2011
• 1.7 million of those earned the federal minimum wage and 2.2 million had wages below the minimum wage. Those 3.7 million workers made up 5.2% of hourly workers and 3.0% of all wage and salary workers.
• The 2.2 million workers earning below minimum wage were in jobs where tips and commissions supplemented the hourly wage received.
• Half of the workers earning minimum wage were 25 or younger. 23% of employed teen agers earned minimum wage while only 3% of workers over age 25 were at minimum wage.
Exactly.
The minimum wage bruhaha is always more about political gamesmanship than helping anyone, least of all the economy. An increase in minimum wage always hurts employment numbers and the economy in general.
Depends on the product or service. Sometimes the market will not suffer a raise in prices. So what happens is the business scales back on employees.
Rev. Mitchell, you know that you cannot make an omelet without breaking some eggs.
Who is helped most by raising the minimum wage are the unions who also get automatic raises whenever the minimum wage is raised and of course Hussein Obama would get a great political triumph to add to his resume no matter what the human cost.
What happens when economic policy is determined by focusing on the few rather than all?
Consider: 85% of the best studies on raising minimum wage point to a loss of jobs following a minimum wage hike.
Consider: we've already had a massive shift in jobs when companies adjusted their working hours to part time because of the ACA. Now we want to implement a policy that results in further reductions.
Consider: raising the minimum wage is meant to address poverty; yet studies show that as many as 60% of those living in poverty don't currrently work, living off of welfare programs instead; and therefore would receive no benefit from the increase.
States that currently have state-induced wages higher than the federal minimum, do not have a correlating decrease in poverty. In fact, the poverty levels remain roughly the same.
THESE are the "inconvenient truths" that people like CTB ignore.
Consider: 85% of the best studies on raising minimum wage point to a loss of jobs following a minimum wage hike.
Consider: we've already had a massive shift in jobs when companies adjusted their working hours to part time because of the ACA. Now we want to implement a policy that results in further reductions.
Consider: raising the minimum wage is meant to address poverty; yet studies show that as many as 60% of those living in poverty don't currrently work, living off of welfare programs instead; and therefore would receive no benefit from the increase.
States that currently have state-induced wages higher than the federal minimum, do not have a correlating decrease in poverty. In fact, the poverty levels remain roughly the same.
THESE are the "inconvenient truths" that people like CTB ignore.
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The consequences:
http://online.wsj.com/news/articles/SB10001424052970204012004577072921778341642
San Francisco Near Top in Cost of Living Ranking
December 8, 2011
The cost of living in San Francisco is less than in Manhattan, Brooklyn and Honolulu but more than anyplace else in the country, according to the Council for Community and Economic Research.
The council's ACCRA Cost of Living Index puts San Francisco 61% above the national average in the third quarter. The cost of living was 124% higher than the average in Manhattan, 86% higher in Brooklyn and 67% higher in Honolulu. A tip for San Franciscans looking to escape some of the most expensive housing, groceries and health care in the U.S.: consider Harlingen, Texas, in the Rio Grande Valley, where the cost of living is 18% lower than the national average, making it the least expensive urban area nationwide.
Minimum wage in Texas buys a higher standard of living than it does in San Francisco.
Strange that you don't believe that.
You see, the Berkeley study has two serious flaws: 1) It only studied the fast food industry, and therefore the conclusion is reached that what's good for one industry will hold true for all others--even though the article itself notes: The researchers were unable to measure whether profits took a hit. Because most low-wage jobs are in service industries such as fast food, retailing or health care, they are relatively immune to competitive pressure from manufactured imports or automation, which employers often turn to if labor costs rise.
2) As carpro pointed out, the study also assumes ceteris paribus. Reality is, ceteris paribus almost never applies. In order to be used as model for other cities in the US, the study needs to adjust numbers based on different cities with differing factors than San Francisco.
For example, property taxes on my wife's uncle's 1,900-square foot house and 23 acres in southern Oklahoma are approximately $800/year; while property taxes on my 2,100-square foot and .5 acre rental property in O'Fallon, Illinois is $4,000/year.
Pay me $10.10/hr in San Jose, and I'm still going to have problems making payments on a 700-square foot apartment. Pay me $10.10 in Fayetteville, Arkansas, and I can do pretty well.
If we legalize the immigrants and that causes several million more to move to the US, then the minimum wage will quickly become the maximum wage. Remember the GOP is getting ready to open the borders once and for all.
Somebody actually sees the light!!!!!:sleep:
Don't be so hard on CTB--living in Europe is not only a step down but also it puts one out of touch with day-to-day live in the USA. CTB can't help it....he thinks like a French aristocrat now.