No,in fact, it would be nice if the suppliers required to charge more. If McDonald's paid more for buns, then the bun people would have more money to spend. If they paid the meat people more, then just imagine how great that would because because the meat people would be spending more and consuming more. And the lettuce and onion people. Don't leave them out.
The whole argument is flawed at its core. Fucking Econ 101. The market will set the rate for a fair wage for the skill. Simple fact.
Read the other day that McDonalds Australia pays closer to $13-$14 an hour. For this, employees have to work harder and more is expected of them. Also fewer jobs overall but those who have them tend to keep them for longer.
No,in fact, it would be nice if the suppliers required to charge more. If McDonald's paid more for buns, then the bun people would have more money to spend. If they paid the meat people more, then just imagine how great that would because because the meat people would be spending more and consuming more. And the lettuce and onion people. Don't leave them out.
The whole argument is flawed at its core. Fucking Econ 101. The market will set the rate for a fair wage for the skill. Simple fact.
Read the other day that McDonalds Australia pays closer to $13-$14 an hour. For this, employees have to work harder and more is expected of them. Also fewer jobs overall but those who have them tend to keep them for longer.
So they made the pay and skills line up? Brilliant.
That reminds me of teachers bitching about how much they make. They think if they make more, nothing will change other than them getting more to do the same work...au contraire mon frere (Hi Derek!) If wages for teachers increase, a more qualified pool of teachers will emerge, and many of those demanding higher pay won't only not get paid more, they won't have a job.
Let's face it, getting a teaching degree isn't the most difficult thing to do, and as such, the pay equals the skill level and available labor pool. The unions do their best to keep things "fair" so the best teachers aren't rewarded for their skills. Teaching is best left to those who have a passion for teaching, not for those who are angry that they don't make the same wages as someone in industry. And the union (any public union) should DIAFF.
Paul Krugman is a political hack masquerading as a BAD economist.
Yep and Paul McCulley (mentioned in the original quote) is total piece of shit collectivist douchebag. In summer 2008 he was screaming all over CNBC and Bloomberg about how the Fed & Gov had to backstop the system by buying all the worthless mortgages- that Pimco happened to owns tons of.
- The minimum wage (adjusted for inflation) was much higher in the 60s and 70s. The economy did not collapse as a result.
- Australia's is about 16 USD per hr., and their unemployment rate is 5.6 percent. What's the US rate? 7.8 or something?
I'm not advocating for some abrupt 50% hike on January 1st 2014. That Would hurt small businesses. But the general "any raise in the minimum wage will kill 3 million jobs and ruin the economy!!!!" nonsense is brought to you by many of the same people whose risky, wreckless behavior gave us the great recession (and subsequent bailouts) so I don't really listen anymore.
Yes, the same people that brought us the recession, the fucking government regulators
LOL, and you really fucking believe that.
Tell us how the invisible hand will sol e all problems.
- The minimum wage (adjusted for inflation) was much higher in the 60s and 70s. The economy did not collapse as a result.
- Australia's is about 16 USD per hr., and their unemployment rate is 5.6 percent. What's the US rate? 7.8 or something?
I'm not advocating for some abrupt 50% hike on January 1st 2014. That Would hurt small businesses. But the general "any raise in the minimum wage will kill 3 million jobs and ruin the economy!!!!" nonsense is brought to you by many of the same people whose risky, wreckless behavior gave us the great recession (and subsequent bailouts) so I don't really listen anymore.
Yes, the same people that brought us the recession, the fucking government regulators
My employees make $18 an hour with the opportunity for bonus. I think $18 bucks is reasonable for their work done. If 15 million people make 15k or less in America I am sure the beer companies and cigarettes companies would enjoy that extra money they would receive with a minimum wage bump. Hey someone has to clean shitters and serve fast food. Why shouldn't they have the opportunity for shitty internet and natty ice?
I pledge to lead a boycott of all Seattle area small businesses that don't buy in. Reminds me of the bumper sitcker I saw the other day: People > Profits.
Lol. How will survive without you?!?! Fuck you guys are dumb. Trotting out the same strawmen each time.
I remember that paid sick leave was going to destroy Seattle and send all the businesses to Bellevue. Oh wait, what? Lowest unemployment rate in the state? Booming development everywhere? Companies relocating their headquarters here?
I don't understand!1!1 Guvment is bad!! Glenn Beck, tell me what went wrong!!!
I pledge to lead a boycott of all Seattle area small businesses that don't buy in. Reminds me of the bumper sitcker I saw the other day: People > Profits.
Lol. How will survive without you?!?! Fuck you guys are dumb. Trotting out the same strawmen each time.
I remember that paid sick leave was going to destroy Seattle and send all the businesses to Bellevue. Oh wait, what? Lowest unemployment rate in the state? Booming development everywhere? Companies relocating their headquarters here?
I don't understand!1!1 Guvment is bad!! Glenn Beck, tell me what went wrong!!!
Lol. You're pretty smart. Show me your economic model that forcing businesses to pay more than the market rate for labor increases hiring from within that pool. And show me how it directly stimulates the economy.
Lol. You're pretty smart. Show me your economic model that forcing businesses to pay more than the market rate for labor increases hiring from within that pool. And show me how it directly stimulates the economy.
Minimum wage increases have little to no effect employment. This trend has held true throughout decades of minimum wage increases at both the federal and state level. Raising the minimum wage is about helping people get out of poverty and off public assistance. Many minimum wage workers currently rely on public assistance or the EITC. We -- the taxpayers -- are helping their employers keep their costs down. Not exactly fair.
The vast majority of small businesses pay above the minimum wage. The focus of this debate is the bad actors -- the Walmarts, McDonalds, etc -- who pay rates that workers can't live on and then encourage their employees to access public assistance so that they can get by. It's crazy.
You want to "fix" our economy? Turn your sights on the billions and billions of dollars of corporate welfare we dole out each year. Bitching about the minimum wage, besides being petty, is just fucking small time.
Lol. You're pretty smart. Show me your economic model that forcing businesses to pay more than the market rate for labor increases hiring from within that pool. And show me how it directly stimulates the economy.
Minimum wage increases have little to no effect employment. This trend has held true throughout decades of minimum wage increases at both the federal and state level. Raising the minimum wage is about helping people get out of poverty and off public assistance. Many minimum wage workers currently rely on public assistance or the EITC. We -- the taxpayers -- are helping their employers keep their costs down. Not exactly fair.
The vast majority of small businesses pay above the minimum wage. The focus of this debate is the bad actors -- the Walmarts, McDonalds, etc -- who pay rates that workers can't live on and then encourage their employees to access public assistance so that they can get by. It's crazy.
You want to "fix" our economy? Turn your sights on the billions and billions of dollars of corporate welfare we dole out each year. Bitching about the minimum wage, besides being petty, is just fucking small time.
Comments
That reminds me of teachers bitching about how much they make. They think if they make more, nothing will change other than them getting more to do the same work...au contraire mon frere (Hi Derek!) If wages for teachers increase, a more qualified pool of teachers will emerge, and many of those demanding higher pay won't only not get paid more, they won't have a job.
Let's face it, getting a teaching degree isn't the most difficult thing to do, and as such, the pay equals the skill level and available labor pool. The unions do their best to keep things "fair" so the best teachers aren't rewarded for their skills. Teaching is best left to those who have a passion for teaching, not for those who are angry that they don't make the same wages as someone in industry. And the union (any public union) should DIAFF.
Tell us how the invisible hand will sol e all problems.
Austrian school of economics...problem solved.
I remember that paid sick leave was going to destroy Seattle and send all the businesses to Bellevue. Oh wait, what? Lowest unemployment rate in the state? Booming development everywhere? Companies relocating their headquarters here?
I don't understand!1!1 Guvment is bad!! Glenn Beck, tell me what went wrong!!!
The vast majority of small businesses pay above the minimum wage. The focus of this debate is the bad actors -- the Walmarts, McDonalds, etc -- who pay rates that workers can't live on and then encourage their employees to access public assistance so that they can get by. It's crazy.
Secondarily, workers making more does benefit the economy. See Maynard, Keynes. http://en.wikipedia.org/wiki/John_Maynard_Keynes
You want to "fix" our economy? Turn your sights on the billions and billions of dollars of corporate welfare we dole out each year. Bitching about the minimum wage, besides being petty, is just fucking small time.
Milton Friedman = Brilliant
HTH