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MikeDamone said:

oregonblitzkrieg said:

salemcoog said:

Mad_Son said:

MikeDamone said:

Mad_Son said:

Also I am watching this on delay and President Obama just called for raising minimum wage which is what I am not assuming this thread is about. I am in favor of a raising minimum wage but I recognize it is a fairly controversial economic policy and I acknowledge that it is not as proven a concept as others and has legitimate gripes.

It's politically controversial, but not economically controversial.

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I think it is economically controversial. My view very similarly parallels this editorial.

http://www.nytimes.com/2013/03/03/business/the-minimum-wage-employment-and-income-distribution.html?pagewanted=all&_r=0

I think that there are preferable means of accomplishing what I view the purpose of a minimum wage is (keeping workers out of poverty) such as EIC but that it is better than the other measures we will take which are nothing. Shooting for something that might happen at reduced efficiency is better than shooting for something that won't happen, even if it is better. I think a call for an increased minimum wage is not clueless. I think it is simply a risk averse maneuver.

If President Obama's goal for a minimum wage was to stimulate the economy then it would be clueless. He said it is motivated to help keep working people out of poverty though and I think it can help to that end.

My two cents.

All it will do is insure that less of the entry level people make that $10.10 an hour and get back on UI.

Artificially raising the minimum wage only hurts those in poverty by taking away their job and it hurts the American economy as a whole.

But that's why our president wants it. That way his base of the 47 Million plus on food stamps grows and the educated clueless stay on his side, because He's helping those poor saps, at least in their libtard minds.

Disagree. There won't be any jobs lost if the wage goes from $7 to $10. It's not as if companies have not already maximized the use of their labor. Are they going to trim their burger flippers from 6 flippers to 5 when the 6 flippers can already just barely keep up on the burger assembly line? Pure propaganda. Jobs will be lost only if companies improve their efficiency and develop new ways for less people to do more. Most have already done this.

My view is that capitalism, for now, is probably the best out of a range of inferior choices that govern an economic system. It's better than communism but it has serious flaws. For instance there is a no man's land at the very top and the very bottom. There is not an endless supply of money because most governments are responsible enough not to print an endless amount of it because it would cause crushing inflation and make money worthless. Those at the very top hoard an inordinate amount of it, while those at the very bottom barely get by and often need government aid because the shitty pay of minimum wage just isn't enough. But imagine if there were no minimum wage at all.

If there were no minimum wage at all, and our fuckstick president went ahead with his geenyus idea of immigration reform, there will 8 million more fucking Mexicans willing to work for next to nothing. These Mexicans will snap up all the $1 hour jobs that were previously paying $7 because most US citizens would refuse to work for such a fuck poor wage, as they should. No more fast food jobs are available because the Mexicans are working them. The Mexicans are working in the shoe stores and the clothing stores. They've taken all the gas pumping jobs. Now there are bunch of US citizens that previously would have had jobs on the dole and relying on Uncle Sam to keep them alive. These underpaid Mexicans are also on the dole getting paid by Uncle Sam. Is that the kind of shit you want to see?

On the other end you have the people at the very top that are multi millionaires or billionaires. Most of them got there by preying on the economic system. We're not talking about Joe Blow who worked hard, started a small business and became a millionaire from his own effort. We're talking about the Lloyd Blankfeins, the Henry Paulsons. Some of them are Wall Street maggots. Their companies hoard commodities, speculate in vital markets and have a 100% negative impact on the economy. These are the same people whose companies sold trashy derivatives and contributed to the housing bubble, causing a worldwide crisis, and then were bailed out with taxpayer money! (Goldman Sachs hoards precious metals in their Detroit warehouses and shuttles them back and forth between adjacent buildings to circumvent delivery time laws, causing the prices of these metals to rise). Some of them own corporations that don't even provide jobs in the US, their workers are Chinese, then they sell their products back over here and make a killing. Hi Phil Knight. That's capitalism at work without boundaries. But I guess if you want this type of pure capitalism we may get our Nike jobs back from overseas since they can pay their Mexican US workforce 50 cents per hour to sew shirts and make shoes back here in the United States of Rockerfeller and Ford. BTW Ford was such a believer in unrestrained capitalism that he used slave labor in Nazi Germany.

I hate going to the shoe store and finding nothing but god damn Mexicans !!