Comments by "whyamimrpink78" (@whyamimrpink78) on "Senator Bernie Sanders"
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+Oscar Chabrand Climate change is a different issue than the min. wage. In theory any price setting does not work, even Paul Krugman says that in his textbook. People will naturally change their ways if something becomes too expensive. If the government were to set a price floor on cars at $10,000 several people won't buy cars, and certain cars will not get sold (such as used cars). The same is with labor.
With climate change there is a lot of doubt in what is happening as if it is really bad. Climate change is happening but how strong of a role man is playing is in question. With the min. wage there is a strongly supported theory in price setting such as price floors not working and it is seen in the data.
I feel there is not one single good reason to even have a min. wage. And from what I read it is basically 50/50 on if it should be raised or not. What I do know, buy studying statistics is that the min. wage is a very small portion of the massive economy. Christina Romer even admits that. So thus the current min. wage, and any raises in the past have put a minute effect on the economy. That is why in some areas you can see a higher min. wage and low unemployment, there are other, stronger factors involved. To me, though, all effects are bad and gets lost in the statistical noise. But the effects are not devastating.
The issue with Bernie is that he wants a one size fits all $15/hr min. wage. My hometown simply can't afford that. Not businesses, my entire town. Small, midwestern towns in agriculture communities simply don't generate much revenue, but cost of living is lower as well. A $15/hr min. wage simply will destroy those towns. That is over a 100% increase. That is my issue with Bernie Sanders, and liberals in general. They are all rhetoric and no specifics. $15/hr is high. When the min. wage was raised to $7.25/hr the business I worked for in my hometown cut workers, raised prices and cut hours. It hurt that business and community.
The same goes for Bernie wanting to create jobs by "rebuilding our crumbling infrastructure". One, what is crumbling? Next, if you build something that people don't demand then that is a waste. Mainly, though, where is the money going to come from? If these businesses are paying workers more than how do they have more money to tax? Also, what is "their fair share"? We need a hard value. At least Bernie gave a value of $15/hr on the min. wage. I can't take what he says seriously unless he first gives me a hard value, and then says why.
The pure fact is that the money is not there. It also goes against what money is. To really understand how flawed Bernie's plans are you have to learn what money is. It isn't some finite resource. Money has to be invested to generate value. Spending it to build things people don't want is devalue money.
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XellosTheDragon No, what Sharon was saying is that everything should go up in price, including labor because "inflation". Some goods have dropped in price and the same is with labor. Some goods have remained the same in price and some have gone up like in labor.
Before the tractor we had people working on the farms. The tractor came and those working on the farms ended up getting a value of $0. With Netflix and Red Box we have seen Blockbuster employees go to a value of $0. In my hometown there was a battery plant and in the 90s it employed over 800 people. So many appliances used batteries as in walkmens, RC cars, cordless phones and so on. Now with Ipads, cell phones, laptops and so one having batteries on boards that recharge, the demand for batteries dropped. That company started to close down factories and when it closed down the one in my town it only employed around 200 people. That means the value of those workers is no $0.
To think that the value of the person running the cash register or flipping burgers at a restaurant has gone up is ludicrous. It hasn't. If you look at technology and the trend in the economy inflation should not be happening and if it is it shouldn't be happening much at all. The reason why food is expensive at the grocery store is because of a policy such as the min. wage. The min. wage went up, a low wage employer such as the grocery store need to pay the employees more now by law, thus they increased prices.
We are producing more food than ever due to technology, we even throw away food. The price of food should be dropping. But the min. wage, which is outpacing productivity, is causing them to go up.
And to think that a min. wage was needed so you can't starve is not true. You are mandating how much is being paid per hour, but not per week.
Your grasp of economics has dropped to a new low.
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Mike Stavenes I am in my upper 20s. I have worked a min. wage job for years and it wasn't hard work. You have little responsibilities, it requires little skills, the hours are flexible, and overall the work is easy. So yes, those on min. wage don't work hard.
"Maybe if they did that same job with more efficiency, that the boss
would reward them by paying them more, out of the kindness of his heart?"
The boss does out of an investment to keep their more productive employees from going to another job.
"How hard people work has nothing to do with how much money they make"
Yes it does, along with skill set and demand.
"If they want to keep more of the money they make from the labors of
their employees...they pay them less, and demand more...which is exactly
what you see happening in the US economy."
Except less than 5% of workers earn at or below the min. wage, around 50% of workers earning a min. wage get a raise within a year, and the average hourly earnings in the US is around $24/hr.
"And you really have to stop using the bullshit about a lack of goods"
Goods are limited. Where are the goods going to come from?
Your idea of money is flawed. If the money isn't there then the price of goods will drop. A company just holding onto goods gives them nothing. In smaller more local areas goods are cheaper for a reason.
The US moved factories overseas for 2 reasons, expensive regulations and overall the evolution of the economy. Saying the economy is consumer based if flawed, you can't consume what you don't produce. If people had the more money but the amount of goods are the same guess what happens? Prices go up.
Businesses simply can't afford higher wages. If Walmart and McDonalds CEOs were to take in $0 and pass it on to the workers their employees would earn an extra $0.001 per hour. The money simply isn't there.
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jmattbassplaya90 Your first mistake is talking about wealth and it being a problem where Walmart owns more wealth than the bottom 40%. So what. Look at what wealth is. I make $20,000/yr and live just fine with my own place and car and healthcare. I have negative wealth because I have a loan that I am paying off. A lot of people have negative wealth due to loans. For the average family 61% of their net worth, or wealth, is tied into their home. So beyond owning a home the average family has very little wealth.
You can't argue for an increase in pay based on wealth because than you will have to start giving away walmarts to people. When you do that, an considering 50% of small businesses fail in the first 5 years, than there will be some wealth disparity. So the wealth figure you mentioned means nothing.
You talk about CEO pay. You have to realize that money is worthless and something is only worth as much as the market determines. If you were to place a cap on CEO pay than a business will just give them something else. They will give them a house, or some land or something because now they will be restricted on the money they can pay someone.
You also have to look at McDonald's are franchised. They are ran by small business owners, not CEOs. Thus they have very little say in how much something cost. Plus, once again, if you remove profits you remove growth. Competition promotes growth and business need to invest to do well against competitors. When that happens businesses grow, jobs are created, and goods and services become better and more affordable.
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