Black People Politics : What should the minimum wage be?

Discussion in 'Black People Politics' started by Kadijah, Aug 6, 2013.

  1. Kadijah

    Kadijah Banned MEMBER

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    Setting aside the rancor of the political class, several economists argue that $7.25 an hour is far too low

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    Across the country, fast food workers are striking for higher wages.


    Many fast food workers across the country are on strike demanding $15 an hour — more than double the federal minimum wage of $7.25.

    That $15 figure strikes some as egregiously high. Conservative groups like the Employment Policies Institute — founded by hospitality and restaurant lobbyist Rick Berman — have published editorials arguing that raising the minimum wage would cost the country jobs. Even some progressives, like Christina D. Romer, the former chair of President Obama's Council of Economic Advisers, have argued that increasing the earned-income tax credit and increasing access to pre-kindergarten education are more effective anti-poverty tools than raising the minimum wage.

    For the most part, however, raising the minimum wage — at least a little bit — isn't particularly controversial. A recent Gallup poll found that 71 percent of Americans support President Obama's proposal to increase the minimum wage to $9.

    But how high should the minimum wage go?
    Richard Kirsch, senior fellow at the progressive Roosevelt Institute, approaches the problem from the perspective of what workers need to survive and thrive. As such, he agrees with the nation's fast food workers: $15.

    "If you look at a pretty basic economic living standard, that's about what one person has to make just to support themselves," Kirsch says. "We can't really move the economy forward when a growing sector of the workforce isn't making enough to support their families."

    The latest report by the Bureau of Labor Statistics found that 46.2 million Americans are living below the poverty line — defined as $11,484 for an individual or $23,021 for a family of four. If a minimum-wage worker puts in 40 hours a week, he or she would make $15,080.


    http://theweek.com/article/index/247876/what-should-the-minimum-wage-be
     
  2. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    $15 is cool with me. and health care.
    if a person puts in 40 hours they should be above poverty.

    conservatives in 5, 4, 3, 2, 1……..
     
  3. Fieldpea

    Fieldpea Well-Known Member MEMBER

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    Shikamaru, in your opinion, just how long would it take for the fed to stabilize the currency? I ask because it wouldn't surprise me if something like that took a couple of years, easy. I'm guessing that such a stabilization at the the gross economic level requires *time* for changes like that to be absorbed, and then *passed down* to the minimum wage workers.


    These workers need relief, now. Since January 1, ALL minimum wage workers have lost ground. The sequester inaction by the republicans in the house may well have stripped the payroll tax holiday thingie from ALL workers, but without any doubt, that same inaction likely hurt the minimum wage worker the most profoundly, so...


    BUSINESS and its shareholder concerns: If by some miracle the dollar was stabilized, *who* should benefit first and foremost? First, now. If things run along as usual--even with obvious stabilization trends--ALL AVAILABLE BENEFITS would run along the lines of *profit-take*--first by the 1%, then the 5%, then the 10%, and then the 50%, etc.--pyramid-like--before such a stabilization would even reach the wallets of the lower classes, right?


    It'd take years, I'm guessing. Years that these workers can't sensibly bear any longer. But still....


    Would the banks behave differently? Like, would you anticipate more job creation (loans to small businesses)? If so, would such jobs created offer wages above the existing minimum *to workers presently earning their $7.15 today*?


    [This is what I get for not knowing jack about economics]. :) I don't know if my questions to you about a stabilized currency are any good (relevant). I'm not playing--I don't know jack, really, so...


    How would a stable currency help matters like increasing the minimum wage?


    One Love, and PEACE
     
  4. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    :SuN020:see. told you so…….
     
  5. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    in the words of that girl group……..you never gonna get it


     
  6. Fieldpea

    Fieldpea Well-Known Member MEMBER

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    Huh...I'd have NEVER realized a link between a stable currency and the ability to save! It's this ability (excess money) that's enabling people like the Chinese individuals and businesses to invest in places like Detroit and Africa, too.


    Thank you.


    One Love, and PEACE
     
  7. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    :11100: i said you ain't NEVER gonna get a stable US currency…….did i lie?
     
  8. Kadijah

    Kadijah Banned MEMBER

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    Is there any currency anywhere in the world that has not had inflation in the past 70 years? :10500:

    If not, why pose an impossibility as a solution?
     
  9. Kadijah

    Kadijah Banned MEMBER

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    What country is on the gold standard? What people use precious metals to purchase bread and milk?

    And with what do you purchase commodities?
     
  10. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    :11100: and we have been skillfully mis directed…..
     
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