US attempts to increase federal minimum wage

slant said:
Oh ok gotcha
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Like, I’m sorry but if I had say $10M in the bank with another $3M in the stock market and money market stuff.I would never oppose a minimum wage hike. And the figures I used are conservative compared to the actual wealth and resources of some of the folks that pretend the minimum wage would hurt their big business and their pockets actually have. My $10M in the bank is laughable to them.
 
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I'm for it.
I agree that it would likely be met with price increases across the board and change very little long-term. Short term though it could make a big different for some people.
Why would small businesses suffer more than larger ones, when they can both increase what they charge? How did these small businesses survive fifty years ago when minimum wage was worth a lot more?
Also in my GM experience (which isn't universal) most businesses could easily afford a labor increase if it would mean 1) increased sales 2) better management 3) reduced turnover.

By itself it's not a solution. My sister suggested fixing social safety nets as a more viable option, but I feel that's not the only other thing that would be needed. It probably is a talking point as well but that doesn't preclude it from being worth consideration.
 
Disclaimer alert: I'm not from the U.S. but I am of the opinion that an increase in minimum wage is always a positive development that must come with an extended implementation strategy to address its caveats.

Inflation is constant. With or without minimum wage increase, it will keep happening. What the increase does is provide wiggle room for those in need, provided that a tax cap is placed on essential goods. By essential goods, I mean food and basic products that keep health and hygiene in check. This way inflation can happen as it should thereby allowing for additional revenue derived from non-essential items like gourmet coffee and make-up but at the same time allow minimum wage owners to have higher buying capacity for their immediate needs. Increased spending on more luxury items should therefore translate to higher taxes for companies that provide these services, which answers the question of where the additional revenue should come from. This framework lessens the gap between rich and poor, but it will, for sure, put a fire up the asses of those who are rich. The greater good isn't so great for those who think they'd be affected negatively by something even though it's not really something they need.

Edit: small businesses should also be given tax exemptions and liens on bigger businesses. This way the focus of revenue collection will be on multi million dollar companies.
 
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Meanwhile real inflation is more or less 30% even though the official numbers are only 7.1% or so thus far. As for wages anything less than middle class say $54,000 a year pre covid is pretty much worthless due to cost of housing, servicing loans be it student loans or medical ect, while overall cost of living is only going up. So for all those working for chump change be it $15 an hour never mind anything less there really is nothing to live for and r.i.p if there is children as there is no way they'll be able to make a decent life for themselves in this economy.

Anyway this country is a sinking ship though while the lights are still on the illusion that is the American dream is not only lost but over the past several years has become a real nightmare.

Since everyone loves a meme.
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Increase the federal minimum wage? Sure, but in for a penny, in for a pound, I say.
  • First, let’s limit CEO pay to 10× the company’s lowest paid employee.
  • Return to 1950s-style progressive tax rates.
  • Then introduce a region-scaled living-wage UBI.
  • Begin universal healthcare with a hybrid model like, e.g., France.
I know, I know, it sounds like chaos, but as a Ne-dom, I can roll with that.

CEO greed would lift all boats. A 91% tax rate (like 1950, when the economy was booming) will limit wage inequality, and better yet, fund that UBI. People would not have to work unless they *wanted* to work, and this would mean employers would have to significantly raise wages to secure workers...and improve conditions as well. Those companies would be unburdened from being on the hook for any healthcare costs.

Regardless of what you do, untold numbers of jobs will disappear because of automation. If that arrives at scale before changes have been made, it will destroy this nation. Wages will plummet with the surplus of available labor for the jobs remaining. And automation will arrive, sooner than later. I don’t say that because I fear technology...not at all—I fear human greed combined with late-stage capitalism.

Does it sound too much? Perhaps it is, and for us there is no redemption. Our flavor of capitalism will reach its conclusion and then anything goes. I’ll likely be dead, and I’m glad. Maybe global warming will topple the house of cards first.

But I’m not a doomer...I’m a leftist who sees a bright future where the wealth of a nation will be a measure of human capital, not financial capital.

Don’t worry, those things will likely not happen. Keep calm, and carry on. Because that’s exactly what they want the wage slaves to do.

Cheers,
Ian
 
aeon said:
Increase the federal minimum wage? Sure, but in for a penny, in for a pound, I say.
  • First, let’s limit CEO pay to 10× the company’s lowest paid employee.
  • Return to 1950s-style progressive tax rates.
  • Then introduce a region-scaled living-wage UBI.
  • Begin universal healthcare with a hybrid model like, e.g., France.
I know, I know, it sounds like chaos, but as a Ne-dom, I can roll with that.

CEO greed would lift all boats. A 91% tax rate (like 1950, when the economy was booming) will limit wage inequality, and better yet, fund that UBI. People would not have to work unless they *wanted* to work, and this would mean employers would have to significantly raise wages to secure workers...and improve conditions as well. Those companies would be unburdened from being on the hook for any healthcare costs.

Regardless of what you do, untold numbers of jobs will disappear because of automation. If that arrives at scale before changes have been made, it will destroy this nation. Wages will plummet with the surplus of available labor for the jobs remaining. And automation will arrive, sooner than later. I don’t say that because I fear technology...not at all—I fear human greed combined with late-stage capitalism.

Does it sound too much? Perhaps it is, and for us there is no redemption. Our flavor of capitalism will reach its conclusion and then anything goes. I’ll likely be dead, and I’m glad. Maybe global warming will topple the house of cards first.

But I’m not a doomer...I’m a leftist who sees a bright future where the wealth of a nation will be a measure of human capital, not financial capital.

Don’t worry, those things will likely not happen. Keep calm, and carry on. Because that’s exactly what they want the wage slaves to do.

Cheers,
Ian
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At this point in history it is all hands on deck regardless of differences or the whole thing will go down with in the decade or so and it won't be happy endings for anyone. What scares me more and more is the lack of options for most and I am not the kind of person that scares easy. This year or the next could be what makes or breaks this civilization should things get any further out of hand.
 
Roses In The Vineyard said:
At this point in history it is all hands on deck regardless of differences or the whole thing will go down with in the decade or so and it won't be happy endings for anyone.
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Unhappy endings it is, then.

Roses In The Vineyard said:
What scares me more and more is the lack of options for most and I am not the kind of person that scares easy.
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You’re not imagining that. Options are shrinking.

Roses In The Vineyard said:
This year or the next could be what makes or breaks this civilization should things get any further out of hand.
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People keep saying they want to get back to normal.

That’s gone. We will never get back to whatever that was.

Given the populace and politics here, COVID will never go away, or die down.

Airlines flew hundreds of empty jets during the early days of COVID so they wouldn’t lose their spots at airports. dafuq? Yep, given that behavior, global warming catastrophe is inevitable. Capitalism will prevent the necessary changes.

Could be a new variant. Regional civil war. End of democracy.

The old Chinese saying of “May you live in interesting times.”...this is exactly what they meant!

Sorry to say, things will get further out of hand. This was just the prelude and first minutes of the opening act. This comedy of errors is a real tragedy, but I hear this one has one hell of an ending.

Cheers,
Ian
 
aeon said:
Unhappy endings it is, then.



You’re not imagining that. Options are shrinking.



People keep saying they want to get back to normal.

That’s gone. We will never get back to whatever that was.

Given the populace and politics here, COVID will never go away, or die down.

Airlines flew hundreds of empty jets during the early days of COVID so they wouldn’t lose their spots at airports. dafuq? Yep, given that behavior, global warming catastrophe is inevitable. Capitalism will prevent the necessary changes.

Could be a new variant. Regional civil war. End of democracy.

The old Chinese saying of “May you live in interesting times.”...this is exactly what they meant!

Sorry to say, things will get further out of hand. This was just the prelude and first minutes of the opening act. This comedy of errors is a real tragedy, but I hear this one has one hell of an ending.

Cheers,
Ian
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Agreed COVID will never go away unfortunately. I would like to move far away from civilization but have no idea how I would support myself financially and this isn't from fear of COVID this is fear of mass stupidity.
 
Seeing this thread again, a somewhat cynical and nasty thought popped into my head:

The people demanding higher wages are probably a bit dumb, and could be appeased by a bit of inflation and a subsequent higher dollar amount on their pay cheque. They'd be oblivious to their increased pay actually having less buying power, but at least they'd shut up about it.

It seems like what I describe is happening in the US right now.
 
Sometimes Yeah said:
Seeing this thread again, a somewhat cynical and nasty thought popped into my head:

The people demanding higher wages are probably a bit dumb, and could be appeased by a bit of inflation and a subsequent higher dollar amount on their pay cheque. They'd be oblivious to their increased pay actually having less buying power, but at least they'd shut up about it.

It seems like what I describe is happening in the US right now.
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Let me see if I get it:
- If "you" don't ask for a higher wages, you are screwed.
- If "you" ask about higher wages, then you are screwed too by inflation.
- Everytime people get a raise, inflation rises more or at least as much as their raise. So they shouldn't ask for a raise (that is your argument and the consequence it as far as I understood) and should keep being more "worthless" every year without complaining.
 
Vendrah said:
Let me see if I get it:
- If "you" don't ask for a higher wages, you are screwed.
- If "you" ask about higher wages, then you are screwed too by inflation.
- Everytime people get a raise, inflation rises more or at least as much as their raise. So they shouldn't ask for a raise (that is your argument and the consequence it as far as I understood) and should keep being more "worthless" every year without complaining.
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Yeah his all boot straps boomer mentality is there for all to see.
 
Vendrah said:
Let me see if I get it:
- If "you" don't ask for a higher wages, you are screwed.
- If "you" ask about higher wages, then you are screwed too by inflation.
- Everytime people get a raise, inflation rises more or at least as much as their raise. So they shouldn't ask for a raise (that is your argument and the consequence it as far as I understood) and should keep being more "worthless" every year without complaining.
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You're not clever enough to argue. I posted about minimum wage. You're going on about individuals asking for pay rises. Apples and oranges. Try again.


In any case, if people want better lives, they really should support foreign invasions. The more influence your country has over trade and economies, the domestic citizens can have greater buying power with their incomes, without needing to increase productivity through higher participation in the workforce, longer hours, or worse conditions.
 
Sometimes Yeah said:
You're not clever enough to argue.
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Ooohhh, you are calling me stupid so I shouldn't argue because Im stupid?? Im far from being stupid anyway, you can just skew towards my posts or have a look at what I compiled on the wiki.

I posted about minimum wage. You're going on about individuals asking for pay rises. Apples and oranges. Try again.
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Try again what? People who are asking for the minimum wage to be raised are actually and obviously people who are asking for a pay rise (even though not necessarily). Maybe you are not clever enough to figure that.

In any case, if people want better lives, they really should support foreign invasions. The more influence your country has over trade and economies, the domestic citizens can have greater buying power with their incomes, without needing to increase productivity through higher participation in the workforce, longer hours, or worse conditions.
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If people want better lives, they should screw the lifes of other people on the other countries?? (that is actually the meaning of "foreign invasions") Wow, amazing! Let's raise the economy by torturing and shooting some people from other countries, yay! Jesus...
 
Vendrah said:
Ooohhh, you are calling me stupid so I shouldn't argue because Im stupid?? Im far from being stupid anyway, you can just skew towards my posts or have a look at what I compiled on the wiki.



Try again what? People who are asking for the minimum wage to be raised are actually and obviously people who are asking for a pay rise (even though not necessarily). Maybe you are not clever enough to figure that.



If people want better lives, they should screw the lifes of other people on the other countries?? (that is actually the meaning of "foreign invasions") Wow, amazing! Let's raise the economy by torturing and shooting some people from other countries, yay! Jesus...
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I think the problem is that you want people to have more money to pay for "stuff", without giving any thought to increasing how much "stuff" there is to around which can be paid for with money.

Adding a zero to the end of everyone's pay cheque, without doing anything else literally does nothing but devalue the currency to 1/10th its original value, and nothing more.
 
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