Comments by "whyamimrpink78" (@whyamimrpink78) on "AMAZIN': Jesse Lee Peterson Vs Kyle Kulinski" video.

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  27. Frank Lance, read the report entitle "Sorry, Bernie, Few Full-Time Workers Live in Poverty" According to Census data 2% of full time workers who worked year round were in poverty. You are lowering the standards by looking at just 27 weeks. Again, poor people work unstable jobs. Working for only 27 weeks is not working full time. Min. wage increases does create job loss for low skill workers. States with higher min. wages have higher teenage unemployment. Here is the issue with the study you point at. There are many factors outside of the min. wage the influences unemployment. Take, for example, Emeryville, CA. It had for years the highest min. wage in the nation but low unemployment. Why? Because some of their top employers are Pixar and pharmaceutical companies. Seattle is able to raise their min. wage and get away with it because some of their top employers are the headquarters for Boeing, Amazon and Starbucks. They had jobs that already pay a high wage to begin with, so the min. wage those markets set was high. It is like this. Say the market set the min. price for milk at $3 a gallon. If the government were to come in and mandate a min.price on milk to $2.50/gal there will be no decrease in the sales of milk. Why? Because the market set the min. price of milk at $3/gal. If the government were to demand a min. price on milk to $3.50/gal their could be a drop in sales in milk, maybe. If other prices fall or if the economy is growing maybe not. A small increase in like that might not have a negative effect. But if it were raised to $5/gal than yes, sales would drop. The same is with wages. If an increase in $0.25 is done that might be small enough that you won't see any real changes due to other factors. For example, in my town when the min. wage went up from $5.15 to $7.25 in two years the company I worked for countered by no longer giving out raises to more veteran workers. So employment numbers did not drop. One of those studies looking at neighboring counties did not look at payroll data which makes their data flawed. You see, I am well read on these issues. You are welcome for your economics lesson.
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  28. Frank Lance, did you read what I linked? Around 2% of people worked full time year round receive welfare, that's it. When you lower the standards to 27 weeks you will get an inflated stat. You have to be honest here. People who are poor work unstable or part time jobs. That is a fact. They are not working full time. Ah, the whole "adjusted for inflation" argument. You do know there is more than one way to calculated inflation? You have the CPI, GDP deflator, PCE, Boskin Commission adjustment and so on. So what measure do you want to use. Also, not everything inflates in the market. The price of some goods and services go up where some go down. Take, for example, the brick cell phone. In the late 80s it cost close to $4000 in today's money. Would you pay $4000 for a brick cell phone today? No. My smart phone was free and it is not only a phone but a calculator, a radio, I can look at the internet, I can text, play games, etc. Much more advanced than a brick cell phone and much cheaper. But according to you I should have paid at least $4000 for that cell phone. The same is with labor. How much is the Blockbuster employer worth? $0. But according to you not only should we still have Blockbuster employees nation wide, but they should be paid greater than $7.25/hr. You can't just tie the min. wage to inflation, it isn't that easy. Economics is way more complex. Noticed how I broke down the flaws of looking at the min. wage and employment? Noticed how I pointed to one of the studies you did and how they did not look at payroll data making their study flawed? You tell me to "cite sources" which shows to me you don't even read the ones you cited. How am I to take you seriously? As for buying power and stimulating the economy, there are several flaws there. Min. wage workers are not the ones driving the economy. Economist Christina Romer stated that if you raised the min. wage to $9.50/hr, and assuming no job loss, that it will grow the economy around 0.01%. That is insignificant. Less than 4% of the work force earns the min. wage and only around 3% of the work full time. They are a minute part of the overall economy. Next, if they are going to spend that money that quickly as opposed to invest it, then they are poor for a reason. They are bad at money management. Finally, what drives the economy is producing, not spending. When more is produced you have more wealth that goes around. That makes goods and services better and cheaper. Back to the cell phone example, it was free for me because a lot of cell phones are produced which drives down the cost. Thus I have money to spend elsewhere. My buying power is increased due to increases in wealth even though my salary was not increased. So no, it isn't as simple as raising wages. As for the incentive to create more goods and technology, that is already there. When new technology first hits the market it is expensive. Companies build new technology out of competition and out of people simply wanting better things. If the people don't have the money they will lower the cost and find a way to do so.
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