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Minimum Wage


rorod
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I think if we have to have minimum wage, it should just be tied to inflation and be done with it. That way it's not a campaign issue anymore, and that way businesses can adequately prepare for the increases over a long stretch of time.

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AZ just passed a measure that ties it to inflation and it is one of the dumbest things I've ever seen

 

a recipe for stagflation if I've ever seen one

 

I don't think it's necessary to adjust at all - but economically wouldn't be opposed to a reasonable one time increase every 5 years or so if the prevailing economic condition could sustain it

 

however, tying something that is essentially loose money to an imperfect indicator and having dollars become more readily available during inflationary times is just nonsense - ever notice how bond rates go up in inflationary times, to make save more appealing and constrict the supply of money strain on pricing? - why make it law that you have to act contrary to this?

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well i work as a tutor and i am not even making minimum wage and until today they werent taking taxes out and all of a sudden now they ARE taking taxes out so im getting paid way under minimum wage..so i think there should be minimum wage and that EVERY employer must pay minumum wage!!

 

Yeah thats kind of illegal. And unless your an illegal immigrant in this country you can easily report them.

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i'm curious as to how you are working under minimum wage as well - only thing I could see is that it's contract work for a fixed rate and the # of hours it takes to complete the contracted task would average out below the minimum - although technically not violate minimum wage

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I fully approve of the federal minimum wage increases.

 

In the past 10 years, the U.S. Congress has raised their wages almost yearly, but wouldn't touch this issue until now.

 

It's also unbelievable that CEOs can receive $100 million+ severance packages, but younger and poorer workers can't even get $7 an hour.

 

If salaries don't rise in response to increased cost of living, the poverty level will go up.

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well i work as a tutor and i am not even making minimum wage and until today they werent taking taxes out and all of a sudden now they ARE taking taxes out so im getting paid way under minimum wage..so i think there should be minimum wage and that EVERY employer must pay minumum wage!!

It's not going to be u to $7.25 right away.....but if you're getting taxes removed then you definitely have a way to file a claim for that.

 

Do you work for a business that has less than ten people?

 

AZ just passed a measure that ties it to inflation and it is one of the dumbest things I've ever seen

 

a recipe for stagflation if I've ever seen one

 

I don't think it's necessary to adjust at all - but economically wouldn't be opposed to a reasonable one time increase every 5 years or so if the prevailing economic condition could sustain it

 

however, tying something that is essentially loose money to an imperfect indicator and having dollars become more readily available during inflationary times is just nonsense - ever notice how bond rates go up in inflationary times, to make save more appealing and constrict the supply of money strain on pricing? - why make it law that you have to act contrary to this?

I don't think the minimum wage helps the economy as much as people think. In fact, I do think it can be contrary. However, if it's going to be adjusted from time to time it makes sense to tie it to inflation so that businesses know that it's going to go up about 3% a year and they can pay people accordingly. Raising them on a whim puts an unnecessary strain on the long term plans of many small businesses that aren't too small to avoid the wage.

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that is true that most states already exceed the federal minimum

 

also, keep in mind that wage increases are felt more in the rural areas in an adverse way - I don't really know anyone out here making less than $7.50 an hour - you get that for mopping floors at jack in the box - that is what the local market bears - however, the rural areas it can impact those employers more and those are the ones that tend to be more distressed

 

I still fundamentally disagree with tying it to inflation

 

Juanky - in inflationary times is it more prudent to contract or increase the money supply as a matter of basic economics?

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I fully approve of the federal minimum wage increases.

 

In the past 10 years, the U.S. Congress has raised their wages almost yearly, but wouldn't touch this issue until now.

 

It's also unbelievable that CEOs can receive $100 million+ severance packages, but younger and poorer workers can't even get $7 an hour.

 

If salaries don't rise in response to increased cost of living, the poverty level will go up.

 

I am mixed here. I know that if I were making min wage, I would want as much as possible. I do think they should tie it with inflation. They said buying power for people on mid wage was actually lower now than 15 years ago.

 

The reason that CEO's get so much money is because (most) they are skilled. Not many people in the world could lead a multinational company. A person making the min wage, say working at mcdonalds, is getting what they are worth. Most people in the world can flip a patty. When you have a min wage you are creating a surplus of workers, i.e. alot of people will work for 7.50 an hour, but not that many will work for 5. Then we have a situation for small buisness wanting to hire two workers two workers. One is more skilled than the other. In an ideal world the skilled worker would make $10 and the lessor skilled one would make $5. If min wage is $7.50 then they are both making the same wage (if there is only $15 per hour allowed). People who are not worth the floor ($7.50) are then required by law to make it.

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well i work as a tutor and i am not even making minimum wage and until today they werent taking taxes out and all of a sudden now they ARE taking taxes out so im getting paid way under minimum wage..so i think there should be minimum wage and that EVERY employer must pay minumum wage!!

It's not going to be u to $7.25 right away.....but if you're getting taxes removed then you definitely have a way to file a claim for that.

 

Do you work for a business that has less than ten people?

 

AZ just passed a measure that ties it to inflation and it is one of the dumbest things I've ever seen

 

a recipe for stagflation if I've ever seen one

 

I don't think it's necessary to adjust at all - but economically wouldn't be opposed to a reasonable one time increase every 5 years or so if the prevailing economic condition could sustain it

 

however, tying something that is essentially loose money to an imperfect indicator and having dollars become more readily available during inflationary times is just nonsense - ever notice how bond rates go up in inflationary times, to make save more appealing and constrict the supply of money strain on pricing? - why make it law that you have to act contrary to this?

I don't think the minimum wage helps the economy as much as people think. In fact, I do think it can be contrary. However, if it's going to be adjusted from time to time it makes sense to tie it to inflation so that businesses know that it's going to go up about 3% a year and they can pay people accordingly. Raising them on a whim puts an unnecessary strain on the long term plans of many small businesses that aren't too small to avoid the wage.

 

I dont think anyone is arguing minimum wage helps the economy. Raising the minimum wage is just the moral thing to do. All the manufacturing jobs that are being shipped overseas are being replaced with service jobs that pay less than half of the jobs going overseas, at times barely over minimum wage.

 

From someone who works in retail my attitude has changed a lot concering retail workers since I started working at Target. For the most part most the employees are hard working individuals who have a family to support. Luckly for most of them they have other sources of income whether it be a husband or living with a relative, because the wages they pay are not liveable wages.

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that is true that most states already exceed the federal minimum

 

also, keep in mind that wage increases are felt more in the rural areas in an adverse way - I don't really know anyone out here making less than $7.50 an hour - you get that for mopping floors at jack in the box - that is what the local market bears - however, the rural areas it can impact those employers more and those are the ones that tend to be more distressed

 

I still fundamentally disagree with tying it to inflation

 

Juanky - in inflationary times is it more prudent to contract or increase the money supply as a matter of basic economics?

It's true that it would be a negative thing to increase minimum wage during a recession, but it's a negative thing overall anyways. If you're going to keep raising it constantly why do it every few years?

 

Aren't we supposed to be heading towards a "recession" anyways? Doesn't seem to be stopping the wage increase now, isn't it? It's the same disaster regardless, so why keep having it help determine elections?

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Absolutely federal minimum wage needs to be raised!

 

When I saw Jim Webb speak, he mentioned that a generation ago, the average CEO made 40x what an entry level employee made in any given company. The ratio today is nearly 400:1. The "haves" constantly give themselves raises in the thousands (both in Congress and throughout the corporate world) while a blue collar employee, the backbone of America, get raises of 25-50 cents an hour yearly.

 

The gap between white/blue collar is astounding and absurd.

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I think a politician's salary should be directly linked to minimum wage.

 

I agree, but they would never go for it and NOBODY has the balls to implement it.

 

That being said, you can't live on minimum wage. Theoretically, you should raise that son of a bitch, drastically, to 8 or 9 dollars. Granted, then you have to do more legislation that doesn't allow our companies to just jump ship and go overseas while leaving our people stranded without jobs, which most of them would do. It'd be nice if companies at least got a decent tax cut out of raising it and staying here, but there's a war on and we need those billions to build bombs.

 

Basically, fundamentally, our system is currently broken. I don't think raising it 50 cents or so really does much. Hell, I made 10 an hour while I was in college and barely got by, can't imagine living on that or, worse yet, LESS than that.

 

Absolutely federal minimum wage needs to be raised!

 

When I saw Jim Webb speak, he mentioned that a generation ago, the average CEO made 40x what an entry level employee made in any given company. The ratio today is nearly 400:1. The "haves" constantly give themselves raises in the thousands (both in Congress and throughout the corporate world) while a blue collar employee, the backbone of America, get raises of 25-50 cents an hour yearly.

 

The gap between white/blue collar is astounding and absurd.

 

The rich get richer and poor get poorer. Never has anything been so true.

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Absolutely federal minimum wage needs to be raised!

 

When I saw Jim Webb speak, he mentioned that a generation ago, the average CEO made 40x what an entry level employee made in any given company. The ratio today is nearly 400:1. The "haves" constantly give themselves raises in the thousands (both in Congress and throughout the corporate world) while a blue collar employee, the backbone of America, get raises of 25-50 cents an hour yearly.

 

The gap between white/blue collar is astounding and absurd.

 

 

if you make 5:15 or 7:50 you are a "have not" with respect to the minimum wage debate it is a bit of a red herring at the risk of drawing the wrath of some most people do not make minimum wage those that do generally speaking are young adults first job and seniors to supplement income . If you are 30-35 years old and making minimum wage you are failure somewhere along the way you screwed up whether it be lack of education, lack of obtaining a usefull skill , poor communication skills , character defect whatever the reason you are a failure, and to be honest while some work 40-50hrs a week in most cases minimum wage workers are lazy if they were motivated they wouldnt be making the minimum wage . Working at a minimum wage job is supposed to be a springboard into something else it provides experience , it helps pay for your college books , augments household income , this is wage increase does nothing to address real problems confronting working Americans . How bout student loan relief not just an interest rate reduction that will enable those bettering themselves to acquire wealth and not be shackled down with debt for 10 years , additionally how some real health care relief , I freaking paid 2600 last year for health care and didnt go the doctor once and this year they raised it another 15 bucks every pay check , i would love to be able to deduct that amount from my tax bill . I think Congress needs to come up with ideas that help working Americans as opposed to catering to a niche group of poor people.

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Absolutely federal minimum wage needs to be raised!

 

When I saw Jim Webb speak, he mentioned that a generation ago, the average CEO made 40x what an entry level employee made in any given company. The ratio today is nearly 400:1. The "haves" constantly give themselves raises in the thousands (both in Congress and throughout the corporate world) while a blue collar employee, the backbone of America, get raises of 25-50 cents an hour yearly.

 

The gap between white/blue collar is astounding and absurd.

 

 

if you make 5:15 or 7:50 you are a "have not" with respect to the minimum wage debate it is a bit of a red herring at the risk of drawing the wrath of some most people do not make minimum wage those that do generally speaking are young adults first job and seniors to supplement income . If you are 30-35 years old and making minimum wage you are failure somewhere along the way you screwed up whether it be lack of education, lack of obtaining a usefull skill , poor communication skills , character defect whatever the reason you are a failure, and to be honest while some work 40-50hrs a week in most cases minimum wage workers are lazy if they were motivated they wouldnt be making the minimum wage . Working at a minimum wage job is supposed to be a springboard into something else it provides experience , it helps pay for your college books , augments household income , this is wage increase does nothing to address real problems confronting working Americans . How bout student loan relief not just an interest rate reduction that will enable those bettering themselves to acquire wealth and not be shackled down with debt for 10 years , additionally how some real health care relief , I freaking paid 2600 last year for health care and didnt go the doctor once and this year they raised it another 15 bucks every pay check , i would love to be able to deduct that amount from my tax bill . I think Congress needs to come up with ideas that help working Americans as opposed to catering to a niche group of poor people.

 

"minimum wage workers are lazy"

 

Wow. I'm amazed. I've recently set some records for being an uncaring jackass around here, but wow.

 

What about those who work two jobs? Kind of judgmental to say everyone who works minimum wage is a failure. I mean, some people have had bad luck. And sometimes there are holes too deep for one to dig him or herself out of.

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There should be some type of graduated wage system in this country, to protect the small business'.

 

For example:

Small business' that gross less than $50k a year would pay $6.75 an hour

business' that gross $50-150k would pay $7.00 an hour

business' that gross $150-250k would pay $7.25 an hour

business' the gross between $250 and 500k would pay $7.50 an hour

big box retailers (Wal-Mart, Target, Publix, Albertsons) would pay $7.75 an hour.

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Absolutely federal minimum wage needs to be raised!

 

When I saw Jim Webb speak, he mentioned that a generation ago, the average CEO made 40x what an entry level employee made in any given company. The ratio today is nearly 400:1. The "haves" constantly give themselves raises in the thousands (both in Congress and throughout the corporate world) while a blue collar employee, the backbone of America, get raises of 25-50 cents an hour yearly.

 

The gap between white/blue collar is astounding and absurd.

 

 

if you make 5:15 or 7:50 you are a "have not" with respect to the minimum wage debate it is a bit of a red herring at the risk of drawing the wrath of some most people do not make minimum wage those that do generally speaking are young adults first job and seniors to supplement income . If you are 30-35 years old and making minimum wage you are failure somewhere along the way you screwed up whether it be lack of education, lack of obtaining a usefull skill , poor communication skills , character defect whatever the reason you are a failure, and to be honest while some work 40-50hrs a week in most cases minimum wage workers are lazy if they were motivated they wouldnt be making the minimum wage . Working at a minimum wage job is supposed to be a springboard into something else it provides experience , it helps pay for your college books , augments household income , this is wage increase does nothing to address real problems confronting working Americans . How bout student loan relief not just an interest rate reduction that will enable those bettering themselves to acquire wealth and not be shackled down with debt for 10 years , additionally how some real health care relief , I freaking paid 2600 last year for health care and didnt go the doctor once and this year they raised it another 15 bucks every pay check , i would love to be able to deduct that amount from my tax bill . I think Congress needs to come up with ideas that help working Americans as opposed to catering to a niche group of poor people.

 

"minimum wage workers are lazy"

 

Wow. I'm amazed. I've recently set some records for being an uncaring jackass around here, but wow.

 

What about those who work two jobs? Kind of judgmental to say everyone who works minimum wage is a failure. I mean, some people have had bad luck. And sometimes there are holes too deep for one to dig him or herself out of.

 

Uncaring jackass? that sounds judgemental, hypocrisy aside the example you provided applys to such a small percentage of the American worker it really isnt worth discussing nonetheless I will ask you how many people do you know working two minimum wage jobs to make ends meat ? The reality is unless you are an immigrant , young adult with no experience ,or senior supplementing retirement , and you are working for a mimum wage you have gone off track somewhere in your life . Bad luck plays apart if your definition of bad luck is something like: a 15 year old girl has a baby and drops out of school , a dude gets addicted to crack , i guess that is bad luck but those individuals put themself in those situations and even those circumstances can be overcome.However in 99.9% of cases if a person of limited intellect finishes high school or gets a ged , cleans himself up , makes it to work on time and trys hard , they dont make minimum wage even at McDonald's they make 7:50-8 to start . There are very few reasons/excuses for a person to have done things the right way and be making minimum wage . I will repeat most working Americans need relief not in the form of a minimum wage increase but relief from health care costs , home insurance in florida , the variety of federal taxs that hit you every day like federal tax on gasoline , etc etc instead of tax cuts for the rich or giveaways to a niche improverished group how bout congress do something for Working America and Middle class America.

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There should be some type of graduated wage system in this country, to protect the small business'.

 

For example:

Small business' that gross less than $50k a year would pay $6.75 an hour

business' that gross $50-150k would pay $7.00 an hour

business' that gross $150-250k would pay $7.25 an hour

business' the gross between $250 and 500k would pay $7.50 an hour

big box retailers (Wal-Mart, Target, Publix, Albertsons) would pay $7.75 an hour.

 

That's an awful idea.

 

Guess where NOBODY is applying?

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juanky - inflation and recession are not necessarily linked

 

it is possible (and happens fairly frequently) where stagnant prices occur in times of lower production - with recession often comes unemployment - when it gets scary is when you put inflation on top of that, you get something called stagflation

 

picture a scenario of high unemployment and high inflation - in typical periods of high unemployment the employees who eventually get squeezed are the low income earners and those employed by businesses who are unable to sustain the economic factors

 

these employees will get cut - however since prices are going up at say 6%, the minimum wage is also increasing that much, making it harder to retain current employees and impossible to hire new ones - the fed will try to contract monetary supply by increasing bond rates - the people with excess money are going to be more inclined to take advantage of rate and invest in markets tied to bond rates instead of consumerism

 

also with the increased rate you have student loans, mortgages, everything going up - however, those with lessor skills still can't get work because it's getting harder and harder for employers to pay for them

 

so basically the poor get crushed in this scenario - but at least some can feel good for helping them

 

also in some rural communities you can live off the minimum wage - it isn't easy, but can be done

 

with that said I have to agree with Irish - we are a competitive work force - although I don't mind an occasional increase to the minimum wage, do it when it makes sense - also, lets remember that minimum wage jobs are supposed to be the ones you raise a family and live large on - so many people try to live beyond their means - if you want the better lifestyle have some ambition and work for it

 

life is what you make of it - I have two buddies who work for a great example - the first worked at a paint store in HS, went to college on a basketball scholarship, messed up and got thrown out - went back to the paint store and worked his way through community college and then took out loans and finished up part time at a state university - real basic degree

 

then hustled at the paint store to get in the mgmt trainee program - had to relocate, but within 10 years of HS he was making $90,000 as a mgr of one of the larger stores in a major metro area

 

the other is squeeky clean, but is 30, still living at home, still going to community college - afraid to take the steps necessary to make more than $8 hr - has little debt, owns his car, etc - but still kind of a loser with no direction - working his HS starter job with no direction

 

both guys went into retail in HS, one made some mistakes and is still successful (he actually gave up the job to go into teaching) - the other is kind of a lump

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this issue is not as black and white as some of you think. if you increase it too much, you will see more jobs going overseas and some business unable to afford the increase. with that said, I'm in favor of an increase but proper reaserch must be done to determine a mechanism to revise this number periodically.

 

wether a CEO makes 1,000 times more than a minimum wage employee. that's the way in a capitalist society. That CEO have a unique skill, and it will be rewarded.

 

Life is not fair and we do not live in a perfect world. With that said, I love our system and wouldn't change it for anything. I believe everyone in this country have the opportunity to achieve great things. The opportunities are out there.

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I think a politician's salary should be directly linked to minimum wage.

I agree, but they would never go for it and NOBODY has the balls to implement it.That's the problem. Nobody cares until it affects them personally. If the People make it known that we demand a politician's salary to be tied to minimum wage, it wil become harder and harder to ignore. This has some interesting side effects in that it would have no impact on inflation and puts greater pressure on a politician to control their self-appointed raises.

 

Current federal minimum wage is $5.15 per hour x 40 hours per week x 50 weeks = $10,300 annually.

A member of Congress makes $165,200 annually. [linkage: http://www.senate.gov/reference/resources/pdf/97-1011.pdf]

That gives you a multiplier of 16x.

So, here's my formula for determining a member of Congress' salary: minimum wage * 2000 [40 hours * 50 weeks] * 16 [multiplier] = yearly salary

In this case: $5.15 x 2000 X 16 = $164,800

 

In reality, the multiplier should be closer to 12 which would give Congress a salary of $123,600 [basically, their 1991 salary] but I don't know how they could live off of only $123,600 a year. It would be really tight. :rolleyes:

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