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Thread: What happens if Biden gets his $15 minimum wage passed?

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    Quote Originally Posted by Salty Alt-left Walty View Post
    Biden has not said how he will get to $15, but it would probably be how NJ and other states are doing it.
    So you're speculating.

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    Quote Originally Posted by Loose Vagina 426 View Post
    Let's think about whose demand we are affecting with the increase to the wage, and how many people it affects....About 42% of US workers make less than $15/hr. That comes to about 58 million] people.
    So...let's think this through logically. If those 58M people suddenly got big wage increases to $15/hr, what do you think they are going to do with that new money?
    I think they're going to find that they still can't afford much when prices go up in tandem with wages.

    Looks like the CBO agrees.

    https://www.cbo.gov/publication/55410

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    What I would like to see would be a maximum wage ratio, [total executive wages + perks + benefits + stock, all of it] vs [lowest wages paid in the organization.]

    This would force highly profitable companies that earn more to pay more.

    Also factor in something about company profits.

    A creative law that says: 'If the company is doing really well, they need to pay the workers really well.' However that law wording needs to be structured.

    Some businesses are just making an absolute killing, and they are not sharing it with the workers that produce it.

    That's what needs to change.

    Jeff Bezos is representative of everything that is wrong with capitalism. Likens it to feudalism.
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    Quote Originally Posted by Conman View Post
    Both. Higher employee wages however will have a greater impact on increasing demand. What do you suppose is the breakage on BOGO pizza deals? It's massive. Higher minimum wage means more consumer spending on pretty much everything.
    So you're planning to avoid wage/price inflation by assuming that consumers will pay for stuff they don't actually consume?

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    Quote Originally Posted by Red Jenkins View Post
    Do you foresee having the government limit what someone could make? If you have a minimum wage why not a maximum wage?
    Sweden, and to a lessor extent other Nordic Countries, keep talking about it. Not a new concept. Basically, if you increase progressive taxes to 100% after a certain point, that is the maximum wage. They have not gone through with it, but they have nearly gone through with it. They have pulled back from that recently.

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    Quote Originally Posted by Legion View Post
    Is that so?

    Tell the forum how much income tax flows into the federal treasury from low-income workers, and explain how minimum wages workers will be able to "consume" good and services whose prices increase to offset higher labor costs.
    Why bother? We've explained it to everyone in this thread, multiple times, using links and economic resources, and you dipshits are still asking questions that make it painfully clear you read none of it.

    Them explain how much the tax base will be increased by American businesses forced to cut hours or close down because they cannot compete with international rivals who pay their workers lower wages.

    Will higher unemployment and impacts on social welfare programs cost taxpayers anything?
    Maybe we should just cut wages to 10 cents per day, like China, because by your logic that will create a utopia of successful businesses with low overhead, and cheap products.

    Right?
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    Quote Originally Posted by Legion View Post
    I think they're going to find that they still can't afford much when prices go up in tandem with wages.

    Looks like the CBO agrees.

    https://www.cbo.gov/publication/55410
    There is not a Democrat on this board than can balance a check book let alone talk economics intelligently. They are all real good at googling and bullshitting though.

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    Quote Originally Posted by ShitTalker View Post
    What I would like to see would be a maximum wage ratio, [total executive wages + perks + benefits + stock, all of it] vs [lowest wages paid in the organization.]
    Then start a business and do that.

    Naturally, I'll understand if you don't.

    Quote Originally Posted by ShitTalker View Post
    This would force highly profitable companies that earn more to pay more.
    "Force". There it is. Who gets to decide which companies are "highly profitable"? Government bureaucrats? Politicians?

    Quote Originally Posted by ShitTalker View Post
    Also factor in something about company profits.
    You want to tie profitability to wages? Doesn't that mean that extra profit would be subsumed by higher labor costs? Where will investment capital come from for innovation, expansion, and are shareholders supposed to accept the fact that their equity is offset by "social justice"?

    Quote Originally Posted by ShitTalker View Post
    A creative law that says: 'If the company is doing really well, they need to pay the workers really well.' However that law wording needs to be structured. Some businesses are just making an absolute killing, and they are not sharing it with the workers that produce it. That's what needs to change.
    You think that would pass Constitutional muster?

    Quote Originally Posted by ShitTalker View Post
    Jeff Bezos is representative of everything that is wrong with capitalism. Likens it to feudalism.
    Jeff Bezos is a DEMOCRAT who uses his wealth to propagandize for the DEMOCRAT Party, isn't he?

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    Quote Originally Posted by Genome View Post
    Why bother? We've explained it to everyone in this thread, multiple times, using links and economic resources, and you dipshits are still asking questions that make it painfully clear you read none of it.
    Your capitulation is noted.

    Quote Originally Posted by Genome View Post
    Maybe we should just cut wages to 10 cents per day, like China, because by your logic that will create a utopia of successful businesses with low overhead, and cheap products. Right?
    Nobody suggested that, except you.

    BTW, China is on track to outstrip the US already due to their low wages, slack environmental regulations, and disregard for individual rights.

    But's that's not a problem, is it?


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    Quote Originally Posted by Jerome View Post
    Do you not know how to scale up numbers? Or reduce fractions? You fucking tard?

    $3 per hour x 40 hours per week, = $120/week or around $500 per month, or $6,000 per year.
    Minus taxes. Are you always this much of a jerk?

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    Quote Originally Posted by Jerome View Post
    Why bother? We've explained it to everyone in this thread, multiple times, using links and economic resources, and you dipshits are still asking questions that make it painfully clear you read none of it.



    Maybe we should just cut wages to 10 cents per day, like China, because by your logic that will create a utopia of successful businesses with low overhead, and cheap products.

    Right?
    Why don't we just pay everyone $100 per hour?

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    Hello Walt,

    Quote Originally Posted by Walt View Post
    Actually, that is a map of what it was two years ago. NJ raised their minimum wage, as it goes to $15. Biden has not said how he will get to $15, but it would probably be how NJ and other states are doing it.

    NJ raised its minimum wage first to $10, and then it was planned to raise it $1 per year until they got to $15. Most plans follow this basic pattern of around 10% a year, not doubling at once.
    Yeah, I could have sworn CA went to $15 already too. I'd have to search on it to verify it, though.
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    Quote Originally Posted by Red Jenkins View Post
    Minus taxes. Are you always this much of a jerk?
    Uh, you DO get that $12 per hour is taxed as well, right?

    And yeah, I'm a jerk to willfully dishonest right-wing shitheads.
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    Quote Originally Posted by Red Jenkins View Post
    Why don't we just pay everyone $100 per hour?
    We haven't raised the minimum wage in 11 years.

    Do you think the COL has gone up since then? Or are you just being a shithead for shithead's sake?
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    Hello Walt,

    Quote Originally Posted by Walt View Post
    Sweden, and to a lessor extent other Nordic Countries, keep talking about it. Not a new concept. Basically, if you increase progressive taxes to 100% after a certain point, that is the maximum wage. They have not gone through with it, but they have nearly gone through with it. They have pulled back from that recently.
    You could get creative with that. You could say: 'Either you spend [everything over a certain amount] for the good of society, (and make it something that can be verified) or we'll tax it away from you and do it ourselves. One way to spend it for the good of society would be to simply raise the wages of all the workers that earned it.
    Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.

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