Reich Is Wrong on the Minimum Wage

[Jello Biafra]

I find it appalling that an elitist twat from the Cato Institute would write such a condescending peace that just ignores the fact that no one can have any real quality of life living off of $16k a year.

 

[Domingo Halliburton]

I think phased in over 3-5 years will have very little impact.

 

[tmonster]

I find it appalling that an elitist twat from the Cato Institute would write such a condescending peace that just ignores the fact that no one can have any real quality of life living off of $16k a year.

it is appalling

 

[Robbie3000]

I don't get this whole "low skills" argument to defend paying people shytty wages. Back when we had a real manufacturing base, blue collar workers basically performed the same simple tasks repeatedly on assembly lines.

How are they more skilled than someone who has been trained to assemble meals at a fast food restaurant?

Now, since they destroyed the manufacturing base, shouldn't we as a society demand that industry pay service workers live-able wages? In all likelihood, these would have been the people working on assembly lines decades ago and being paid well.

 

[the cac mamba]

Defends the system?

breh youre THAT dude when it comes to min wage raising arguments

i just dont get why you think shyt would be worse when i cant remember it being tried yet

like you can point to charts and predictions and shyt, but i think we have to wait until seattle and san fran fail to call shyt out for failing. when has it really been significantly raised before?

 

[GSR]

Higher min wage means less profits but the moron author of that article ignores the fact that most big companies have been reaping record highs in profits the last few years.

I think in addition to min wage, the Feds need to institute a maximum wage as well. Create a law that says no high level employee can make more than 50 times the amount of money that the lowest paid worker makes.

Obviously humans can't be trusted on their own to make decisions that benefit society as a whole so we need these laws to keep them in check.

What a complete joke of an article. Never mind the fact that in terms of real dollar value min wage was at one point the equivalent to $19/hr in today's dollars and the economy was doing just fine at that time.

 

[ghostwriterx]

I think in addition to min wage, the Feds need to institute a maximum wage as well. Create a law that says no high level employee can make more than 50 times the amount of money that the lowest paid worker makes.

 

[GSR]

The U.s. had a tax rate of 90% for salaries about 250,000 for the longest time unt it was repealed by Nixon. That in effect is the same thing as a max wage.


The great irony of America is that it already had in place the BEST policies geared towards the middle class in place which have been slowly chipped away at over the last few decades and now idiots want to accept the current fukked up state of the economy & economic policies as the norm or the most efficient, like the retarded idiots that they are.

Funny enough, the chipping away of these policies almost directly coincided with the gain in economic power of minorities. And now sambos left and right are arguing in favor of that bullshyt. Go figure.

 

[ghostwriterx]

The U.s. had a tax rate of 90% for salaries about 250,000 for the longest time unt it was repealed by Nixon. That in effect is the same thing as a max wage.


The great irony of America is that it already had in place the BEST policies geared towards the middle class in place which have been slowly chipped away at over the last few decades and now idiots want to accept the current fukked up state of the economy & economic policies as the norm or the most efficient, like the retarded idiots that they are.

Funny enough, the chipping away of these policies almost directly coincided with the gain in economic power of minorities. And now sambos left and right are arguing in favor of that bullshyt. Go figure.

I've seen that quote before, sounds like a soundbite that's leaving out some facts.

http://www.politifact.com/truth-o-m...l-moores-film-capitalism-claims-richest-paid/

http://www.wsj.com/articles/SB10001424127887324705104578151601554982808

 

[GSR]

I've seen that quote before, sounds like a soundbite that's leaving out some facts.

http://www.politifact.com/truth-o-m...l-moores-film-capitalism-claims-richest-paid/

http://www.wsj.com/articles/SB10001424127887324705104578151601554982808

Yes i gave the simplified version, but my argument stays the same as there was s 90% tax rate that did have the same effect as a max wage:

In 1952 and 1953, Williams said, when the top income tax rate was 92 percent for income over $300,000, a person would have to make waaaay more than $300,000 to actually end up paying an average of 90 percent of their income. According to Williams, someone would have to make $2,328,400, and therefore pay $2,095,560, to get to that 90 percent threshold.

But people with income of less than $2.3 million — remember we're talking about 1952 and 1953 — would have paid, on average, something less than 90 percent, and perhaps much less.

Still, Moore's point is valid. The top marginal tax rates paid by the richest Americans were far higher in the 1950s than they are now. In 2009, the top marginal rate was 35 percent on income above $372,958. And although Moore didn't use the term "marginal tax rate," he did say "top tax rate." People without CPAs might mistake that for a person's average tax rate (it's not), but it's valid wording. And so we rule this one Mostly True

 

[ghostwriterx]

Yes i gave the simplified version, but my argument stays the same as there was s 90% tax rate that did have the same effect as a max wage:

What's income inequality like now compared to then? You really think limiting how much people can make is going to cause wages for the bottom to rise?

 

[GSR]

What's income inequality like now compared to then? You really think limiting how much people can make is going to cause wages for the bottom to rise?

For your first question I don't know off the top of my head nor go I care. You can find that info for yourself.

As for the second, it's blatantly obvious that a big chunk of the money supply is being hoarded by the wealthiest people/companies. By putting a cap on and limiting the portion of the money supply that the top can attain, that money has to go somewhere, and this method would obliterate any economic or political resistance to a min wage therefore making a high min wage not only possible and not just economically viable, but most importantly economically necessary.

 

[ghostwriterx]

For your first question I don't know off the top of my head nor go I care. You can find that info for yourself.

You suggested things were so much better with a 90% tax rate, now you're saying you don't know or care if that's actually the case?

As for the second, it's blatantly obvious that a big chunk of the money supply is being hoarded by the wealthiest people/companies. By putting a cap on and limiting the portion of the money supply that the top can attain, that money has to go somewhere, and this method would obliterate any economic or political resistance to a min wage therefore making a high min wage not only possible

In the times of the 90% tax rate, most individuals just found loopholes to minimize their effective income, same thing would happen today. They're not going to just "decide" to raise wages for the hell of it.

There's nothing inherently wrong/evil with the top 1% holding as much wealth as it does. The issue is that hardworking people at the bottom often struggle to earn livable wages. I don't see how taking from the top 1% and giving it to the govt. solves that problem.

 

[GSR]

There's nothing inherently wrong/evil with the top 1% holding as much wealth as it does.

And therein lies the problem. I refuse to debate this subject with someone who has such a mindset.

You obviously feel there's nothing wrong with things the way they are so let's not change anything and keep heading in the same direction theat we are and see where it gets us as a society.

I just offered a solution and you seem hell bent on poking as many holes in it as you can avoiding the obvious of the current state of affairs in this country. I don't have time for this kinda bullshytin.

 

[88m3]

If you guys go after their bottom line by raising wages how can you expect them to open more stores and put more people on government assistance?