Populist bullcrap. You don't have to imagine this situation, because for MOST of our nation's history, we didn't have wage laws. For a century and half, corporations were free to pay whatever they wanted. The market determined wages. And guess what? the US attracted millions of workers, because we paid the highest real wages in the world, and had best living standards. Remember the old 20's poster that said "world's highest standard of living"? NO minimum wage laws.
Before there was minimal wages people died at work, there was more poverty. Working conditions were horrible. Also, the rich were getting taxed at 80%, the wealth was being spread alot more evenly back then. You work hard, you earned a great living. Present day, the rich get tax breaks, and you don't get paid what you are worth.
@grendel1013 If living standards were as bad as you say they were, we wouldn't have had so many people immigrating to the US. And higher taxes on the rich doesn't mean everyone else is richer. Your line of thought seems to be that if one person has more, another must have less. Zero-sum game, they call it in economics. You have to stop thinking like that, if you're going to understand how wealth is really created. Trying to "spread" it around just drives business and investment away.
The U.S dollar, and workers rights, are some examples of why they come here. If the filthy rich pay their fair share, less taxes for middle and lower class. Basic economics 101. It's not about spreading wealth around, it's about paying you dues. If one person in a boat is not paddling at the same speed as every one else, you get no where fast and every one else has to pick up their slack.
Businesses are are going over seas because it's more profitable to exploit under paid employees than it is to pay people what they are worth. Greed drives companies over seas, killing our economy by giving our jobs away. I am not saying make everyone rich, I am saying everyone should be paid enough to live a comfortable life. People make more, they spend more. They make less, they don't spend, and in the end everyone has to pay more to support them.
Lets say our government does away with minimal wage, what do think would happen? More poverty, less jobs, more on welfare, taxes go up, less spending, life expectancy goes down, . Only the 1% will profit. This country will fall.
@grendel1013 Hmm well the poor can now get jobs, people can hire more, more people on welfare can work, the same spending yet more people get a cut of the pie, and more people can afford food and basic things.
@Charlesperalo With the Middle class disappearing, and jobs being as scarce as they are. ( I am referring to good paying jobs, not Wal-mart jobs.) There will be alot more " Working Poor". People who live pay check to paycheck on the false promise that if they work hard they will make enough for a comfortable life. There is much more to life than just the bare essentials, why should anyone bust their ass for the bare essentials while corporate fuckbags make millions of you hard work?
Up until the mid 70s, a person could buy a new car every 2 years, not have to worry about student loans, have a nice house, one parent has to work instead of two,and work full time at a bs job. Not anymore.
Most latinos support the minimum wage increases, but sadly they are ignorant of the economic costs of doing so. Raising it sounds all fine and great until you see the negative consequences of government messing with wages and the labor market.
Your logic is fine, if you believe in the trickle down effect. Umm, the trickle down effect does not work. If people make more, they spend more, they spend more companies make more, companies make more they lower costs, lower costs means more money in companies pockets.
What do you mean, "the trickle down effect doesn't work??" The term just means that many markets are interconnected, and any change will necessarily affect related market fundamentals. i.e., you cut taxes on the poor, and spending on consumer goods increase; or cut taxes on the upper class, and loanable funds increases (since they are likely not to spend.)
>>"If people make more, they spend more"<< This isn't necessarily true. have you forgotten about saving?
when wages rise, that is a good thing, IF they have done so because real market forces have driven up the demand for labor. A minimum wage is an artificial market force. It has not come about because it is profitable for a business to pay higher wages, but because some edict has said so. And why do you want people to simply spend more? It's savings&investment we need right now, not more mindless spending. U need to realize that what we had was an unsustainable spending bubble
I agree about saving, but when a worker makes below the poverty line ( Wal-mart employees) They can barely afford to make ends meet, never mind saving.Majority of their employees are on welfare, or other state benefits. That raises taxes.
If a worker can afford to spend AND save, it's better for the economy. Having the "working poor" does not help the economy. I wonder, would you rather go back to serfdom?
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occupytheworld22 3 months ago
minimum wage is modern day slavery---corporate wages are being subsidized by tax payers--food stamps,HUD,low income health care' America is sad
10290gilmore 10 months ago
Imagine no minimal wage, people working for $3.00 an hour, all on state or poor.
Yeah corporations would make a killing, at the expense of everyone else.
grendel1013 1 year ago
@grendel1013
Populist bullcrap. You don't have to imagine this situation, because for MOST of our nation's history, we didn't have wage laws. For a century and half, corporations were free to pay whatever they wanted. The market determined wages. And guess what? the US attracted millions of workers, because we paid the highest real wages in the world, and had best living standards. Remember the old 20's poster that said "world's highest standard of living"? NO minimum wage laws.
labulldog5 1 year ago
@labulldog5
Before there was minimal wages people died at work, there was more poverty. Working conditions were horrible. Also, the rich were getting taxed at 80%, the wealth was being spread alot more evenly back then. You work hard, you earned a great living. Present day, the rich get tax breaks, and you don't get paid what you are worth.
grendel1013 1 year ago
@grendel1013 If living standards were as bad as you say they were, we wouldn't have had so many people immigrating to the US. And higher taxes on the rich doesn't mean everyone else is richer. Your line of thought seems to be that if one person has more, another must have less. Zero-sum game, they call it in economics. You have to stop thinking like that, if you're going to understand how wealth is really created. Trying to "spread" it around just drives business and investment away.
labulldog5 1 year ago
@labulldog5
WRONG AGAIN LOL!
The U.S dollar, and workers rights, are some examples of why they come here. If the filthy rich pay their fair share, less taxes for middle and lower class. Basic economics 101. It's not about spreading wealth around, it's about paying you dues. If one person in a boat is not paddling at the same speed as every one else, you get no where fast and every one else has to pick up their slack.
grendel1013 1 year ago
@labulldog5
Businesses are are going over seas because it's more profitable to exploit under paid employees than it is to pay people what they are worth. Greed drives companies over seas, killing our economy by giving our jobs away. I am not saying make everyone rich, I am saying everyone should be paid enough to live a comfortable life. People make more, they spend more. They make less, they don't spend, and in the end everyone has to pay more to support them.
grendel1013 1 year ago
@labulldog5
Lets say our government does away with minimal wage, what do think would happen? More poverty, less jobs, more on welfare, taxes go up, less spending, life expectancy goes down, . Only the 1% will profit. This country will fall.
grendel1013 1 year ago
@grendel1013 Hmm well the poor can now get jobs, people can hire more, more people on welfare can work, the same spending yet more people get a cut of the pie, and more people can afford food and basic things.
Charlesperalo 11 months ago
@Charlesperalo With the Middle class disappearing, and jobs being as scarce as they are. ( I am referring to good paying jobs, not Wal-mart jobs.) There will be alot more " Working Poor". People who live pay check to paycheck on the false promise that if they work hard they will make enough for a comfortable life. There is much more to life than just the bare essentials, why should anyone bust their ass for the bare essentials while corporate fuckbags make millions of you hard work?
grendel1013 11 months ago
@labulldog5 ---you have your causation backwards
10290gilmore 10 months ago
@labulldog5
Up until the mid 70s, a person could buy a new car every 2 years, not have to worry about student loans, have a nice house, one parent has to work instead of two,and work full time at a bs job. Not anymore.
grendel1013 1 year ago
Most latinos support the minimum wage increases, but sadly they are ignorant of the economic costs of doing so. Raising it sounds all fine and great until you see the negative consequences of government messing with wages and the labor market.
labulldog5 4 years ago
@labulldog5
Your logic is fine, if you believe in the trickle down effect. Umm, the trickle down effect does not work. If people make more, they spend more, they spend more companies make more, companies make more they lower costs, lower costs means more money in companies pockets.
grendel1013 1 year ago
@grendel1013
What do you mean, "the trickle down effect doesn't work??" The term just means that many markets are interconnected, and any change will necessarily affect related market fundamentals. i.e., you cut taxes on the poor, and spending on consumer goods increase; or cut taxes on the upper class, and loanable funds increases (since they are likely not to spend.)
>>"If people make more, they spend more"<< This isn't necessarily true. have you forgotten about saving?
labulldog5 1 year ago
@grendel1013
when wages rise, that is a good thing, IF they have done so because real market forces have driven up the demand for labor. A minimum wage is an artificial market force. It has not come about because it is profitable for a business to pay higher wages, but because some edict has said so. And why do you want people to simply spend more? It's savings&investment we need right now, not more mindless spending. U need to realize that what we had was an unsustainable spending bubble
labulldog5 1 year ago
@labulldog5
I agree about saving, but when a worker makes below the poverty line ( Wal-mart employees) They can barely afford to make ends meet, never mind saving.Majority of their employees are on welfare, or other state benefits. That raises taxes.
If a worker can afford to spend AND save, it's better for the economy. Having the "working poor" does not help the economy. I wonder, would you rather go back to serfdom?
grendel1013 1 year ago
This is great!!!
dfermin 4 years ago
not only Latinos many Blacks and Caucasians as well.
Spazzin550 2 years ago