Comments by "whyamimrpink78" (@whyamimrpink78) on "Stuart Varney Loves Crapping On The Poor" video.

  1. Increasing the min. wage will lead to automation faster. Yes it will happen, but gradually which means the market will adjust with no major issues. Instead it will happen quickly to where the market the market won't adjust as quickly leading to problems, especially for the poor.
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  2. Great, and when prices go up and people lose jobs then they can learn their lesson the hard way. Sometimes people have to learn the hard way.
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  3. Jonathan, that government website you cited has no citations to it. It has claims with nothing to point to. And as another person said, 500 "economists" is not much. One was Robert Reich who isn't even an economist. Meanwhile, economists like Arin Dube who supports the min. wage isn't a part of that 500. I suggest you do more research.
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  4. "Yes that is known as I said above to him which he said was a communist ideal is known as an increase in the velocity of money. This is because the working class has the ability to buy more products which means corporations make more money which causes the economy to circulate. This is taught in a basic economics class" Uh, no. That is not taught in basic economics. What is taught is that price floors and price ceilings are inefficient and lead to waste in the market. " Its obvious that you would rather have MILLIONS buying your product then a few thousands" But if you have a limited amount of product then prices go up. You can't consume what you don't produce. Supply and demand is taught in basic economics as well.
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  5. I went to McDonalds a few weeks ago. They were slow and messed up my order. In my opinion they are worth $0/hr and I do that by not going there anymore.
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  6. Denmark has 1. Around 1/60 of the population than US 2. No min. wage 3. Mandatory military
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  7. Automation will happen, but it should happen gradually. If you increase the min. wage it will happen quickly and the market won't have time to adjust. Thus some areas of the market will suffer, mainly the poor.
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  8. Automation is viable. I never had to wait in life at a redbox and they are all over the place. Automation isn't bad either. While low skill jobs will be lost, it opens the opportunity for higher skilled jobs. Companies don't do it right now because labor is still cheap. But if you make labor expensive then businesses will switch to it. Eventually automation will be cheaper, but until then businesses will stick with labor until a price floor forces them to buy automation.
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  9. 1. Same with labor. There are "stupid people" that slow down production. 2. Once set up there isn't a problem. 3. Maintenance will always exists, but humans require food and sleep. As technology gets better maintenance goes down. Similar to cars replacing horses. 4. How? 5. There is an argument there, but companies are always looking ahead. The same argument could have been said with debit cards when the older generation figured it out. Younger generations are more technologically sound and it is being used in school. Yes older generations will be behind but they will figure it out.
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  10. 1. With automation you open more lines to where if there is a slow grandma other stations will be open keeping the pace smooth. With labor only one cashier is open so that slow customer is holding everyone back. 2. Sometimes you have to take steps back before you can go forward. Example is college. 3. Technology is always developing so we will get there. 4. I don't get what you are saying here 5. I agree automation should be introduced slowly. In a normal developing economy it will. But when forced quickly by some sort of perturbation, like a min. wage increase, then it won't happen slowly but will happen quickly. Businesses will just demand that customers adjust. Their fault for supporting a min. wage increase.
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  11. In business you always have to consider cost. If there is value in going with automation then a business will invest in it. If labor is cheap they will go with labor. But if you make labor too expensive then a company will find it saves money going with automation.
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  12. " You missed the point entirely. No matter how cheap labor is, technology will inevitably progress to the point where automation is more profitable regardless of the cost of labor. Because of this, no matter what the min. wage is, automation WILL become the better eventually." I agree. I don't see that as a problem.
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  13. 1. It doesn't work that way. 2. I agree a lot of companies are not ready to take the next step. This is why the min. wage also hurts smaller competitors. It is similar to what Herman Cain said in his discussion with Bill Clinton. Larger competitors have the resources to get through stricter regulations like a min. wage increase while the smaller ones don't. 3. We will get there, but we shouldn't force it. 4. Yes 5. Complete automation is unlikely to happen anytime soon, but it can be rushed.
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  14. "It's been proven that higher pay increases the quality of work." Nope
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