It must be a magical time to be a racist

Here's a report from the National Bureau of Economic Research on:


The Minimum Wage and the Great Recession: Evidence of Effects on the Employment and Income Trajectories of Low-Skilled Workers

We estimate the minimum wage's effects on low-skilled workers' employment and income trajectories. Our approach exploits two dimensions of the data we analyze. First, we compare workers in states that were bound by recent increases in the federal minimum wage to workers in states that were not. Second, we use 12 months of baseline data to divide low-skilled workers into a "target" group, whose baseline wage rates were directly affected, and a "within-state control" group with slightly higher baseline wage rates. Over three subsequent years, we find that binding minimum wage increases had significant, negative effects on the employment and income growth of targeted workers. Lost income reflects contributions from employment declines, increased probabilities of working without pay (i.e., an "internship" effect), and lost wage growth associated with reductions in experience accumulation. Methodologically, we show that our approach identifies targeted workers more precisely than the demographic and industrial proxies used regularly in the literature. Additionally, because we identify targeted workers on a population-wide basis, our approach is relatively well suited for extrapolating to estimates of the minimum wage's effects on aggregate employment. Over the late 2000s, the average effective minimum wage rose by 30 percent across the United States. We estimate that these minimum wage increases reduced the national employment-to-population ratio by 0.7 percentage point.


http://www.nber.org/papers/w20724?utm_campaign=ntw&utm_medium=email&utm_source=ntw
 
Milagro said:
Here is something for you to consider. With AI systems and automation proceeding at an ever faster rate to replace people, I can see a time maybe 15 years from now when Hispanic migrants will go back as there will be so few unskilled jobs left in the US.
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Technology has a hell of a way before it can do that. In fact the trend has been reversing of late because the government has been a lot more proactive on the hiring of illegals. E-verify has had a tremendous impact for those who try to find employment that cannot verify their legal residence status. Lots of illegal immigrants have been returning simply because e-verify has prevented them from obtaining employment.
 
Mott the Hoople said:
Technology has a hell of a way before it can do that. In fact the trend has been reversing of late because the government has been a lot more proactive on the hiring of illegals. E-verify has had a tremendous impact for those who try to find employment that cannot verify their legal residence status. Lots of illegal immigrants have been returning simply because e-verify has prevented them from obtaining employment.
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Well within 15 years, driverless cars, taxis and trucks will be the norm, supermarkets will need very few personnel, factories, warehouses and fast food will be almost fully automated as well.
 
cawacko said:
Here's a report from the National Bureau of Economic Research on:


The Minimum Wage and the Great Recession: Evidence of Effects on the Employment and Income Trajectories of Low-Skilled Workers

We estimate the minimum wage's effects on low-skilled workers' employment and income trajectories. Our approach exploits two dimensions of the data we analyze. First, we compare workers in states that were bound by recent increases in the federal minimum wage to workers in states that were not. Second, we use 12 months of baseline data to divide low-skilled workers into a "target" group, whose baseline wage rates were directly affected, and a "within-state control" group with slightly higher baseline wage rates. Over three subsequent years, we find that binding minimum wage increases had significant, negative effects on the employment and income growth of targeted workers. Lost income reflects contributions from employment declines, increased probabilities of working without pay (i.e., an "internship" effect), and lost wage growth associated with reductions in experience accumulation. Methodologically, we show that our approach identifies targeted workers more precisely than the demographic and industrial proxies used regularly in the literature. Additionally, because we identify targeted workers on a population-wide basis, our approach is relatively well suited for extrapolating to estimates of the minimum wage's effects on aggregate employment. Over the late 2000s, the average effective minimum wage rose by 30 percent across the United States. We estimate that these minimum wage increases reduced the national employment-to-population ratio by 0.7 percentage point.


http://www.nber.org/papers/w20724?utm_campaign=ntw&utm_medium=email&utm_source=ntw
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That's for low wage workers. The CBO's report shows that increasing the minimum wage to $10.10/hr the over all increase in income would put $31 billion more dollars into the economy annually of which only around 20% would go to those earning minimum wage but 30% would go to those earning more than 3 times the poverty line with the remaining 50% going to those who's income in between those levels meaning that there would be a small decrease in minimum wage jobs (as you stated around -0.7%) but a net increase in new jobs over all due to increased demand for goods and services and more opportunities for higher paying jobs overall by +1%. That net gain would also mean those workers would pay more in taxes and receive less in government benefits.

So the net affects of increasing the minimum wage to $10.10 would be mixed but there would be a net gain over all in both jobs and opportunities for low wager workers to find higher paying jobs.

Now if you raise the minimum wage to $15 dollars an hour would substantially decrease opportunities for low wager workers but those disadvantages can be mitigated, as I stated earlier, by a corresponding and equivalent tax break to employers. This cat can be skinned so as to raise living standards for low wager earners, create an economic stimulus, increase tax revenues, decrease demand for government services and without making business carry the burden.

Not only that but you could also have a two tiered minimum wage with a $7.75 min wage for part time employees and a $15 minimum wage for full time employees while giving business owners a $7.25/hr tax reduction to encourage employing full time workers at a living wage while giving business flexibility to use part time labor, as needed, at a lower minimum wage. The net increase in wages would create more income tax revenue that would offset the business tax cuts and, again, would lower demand for government services.

Think about it. Would you as a business owner have a problem paying $15/hr minimum wage if you also get a corresponding $7.50/hr tax reduction? Your net cost wouldn't really change.
 
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Mott the Hoople said:
That's for low wage workers. The CBO's report shows that increasing the minimum wage to $10.10/hr the over all increase in income would put $31 billion more dollars into the economy annually of which only around 20% would go to those earning minimum wage but 30% would go to those earning more than 3 times the poverty line with the remaining 50% going to those who's income in between those levels meaning that there would be a small decrease in minimum wage jobs (as you stated around




The low wage workers being referred to on a percentage basis are the largest minority. You can offer your proposed plan but until that is put into action the people hurt most are young minorities.

And the CBO reported cites the loss of jobs. So you can't site that report yet claim I'm making sh*t up when talking about job loss.
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Mott the Hoople said:
If by that you mean eliminate import/export duties sure...why limit it to inner cities?
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nope.....I mean everything.....no employer contribution to employment taxes, no corporate income taxes.....no property taxes.....the federal government can make up the difference to the states and the entitlements.......and limit it to inner cities because this thread is about how to help inner cities recover.........every tiny town in Ohio does not need a factory.........
 
PostmodernProphet said:
yes they are.....
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Not so Pastor PIMP.
Corporate share of federal tax revenue has dropped by two-thirds in 60 years — from 32% in 1952 to 10% in 2013.
General Electric, Boeing, Verizon and 23 other profitable Fortune 500 firms paid no federal income taxes from 2008 to 2012.
288 big and profitable Fortune 500 corporations paid an average effective federal tax rate of just 19.4% from 2008 to 2012.
Profitable corporations paid U.S. income taxes amounting to just 12.6% of worldwide income in 2010.
U.S. corporations dodge $90 billion a year in income taxes by shifting profits to subsidiaries — often no more than post office boxes — in tax havens.
U.S. corporations officially hold $2.1 trillion in profits offshore — much of it in tax havens — that have not yet been taxed here.
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http://staging.americansfortaxfairn...efing-booklet/fact-sheet-corporate-tax-rates/

You are a liar.
 
I thought we were discussing how blacks entrusted dems with 90% of the vote and dems used that to screw them over? o.O
 
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