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Eliot Hosewater
 

Registered: May 2006
Posts: 1291

 

07-11-06 06:32 PM


Quote from claywilk:

Why isn't the minimum wage pegged to inflation? It seems to me that Cola's tend to work toward the ultimate goal of having a modest but manageable inflation rate. Better yet! Why doesn't the increase exactly at the ideal inflation rate of 2-2.5%? It seems to me that this would actually help meet that target. It may even tend to shift some of the burden a little higher up the food chain where it belongs.



Why isn't the minimum wage pegged to Congressional pay raises?

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nampooya
 

Registered: Jan 2006
Posts: 44

 

07-11-06 06:33 PM

The people working Arizona/$2.95hr are taking that money across border.Good $ compared to $2.95/day.

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Hydroblunt
 

Registered: Jun 2004
Posts: 3975

 

07-11-06 08:01 PM

Some great points have been made in this thread, it's nice to see no silly labels and insults being thrown out over a controversial & somewhat sensitive issue.

I'm personally very concerned about where this country is headed due to Congress rejecting MW raise. That is a key sign about the widening rip between the rich & poor. IMO, the only thing MW really should do is at least try to keep up with inflation in order to protect a minimal adequate standard of living for the low end blue collar worker.

With the continuing erosion of the middle class, the lower class will grow significantly and any "replacement costs" will only go lower and lower as that labor pool gets flooded. That is where the MW will become important because it is a measure of the earning power of the population.

And I correct myself, free market wages will not result in financial slavery, the proper term is SERFDOM. With MW at its current state, that is exactly what you become earning $5.15/hour.

One more thing, you cannot blame corporations but only the system. A corporation legal duty is to make and grow profit first and foremost. What most corporations end up doing in terms of outsourcing, cutting benefits is logical and expected. I have some serious issues about the people making these decisions and the corruption involved, but on the surface it is the correct move for a Corporation to evaluate these opportunities.
Don't hate the players, hate the game.

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PitchBlack
 

Registered: Feb 2005
Posts: 1619

 

07-11-06 08:15 PM

http://www.economist.com/world/disp...tory_id=7055911

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AKUMATOTENSHI
 

Registered: Jul 2006
Posts: 773

 

04-15-12 01:17 PM


Quote from GTS:

You are making the assumption that an increase in the minimum wage would not impact the number of minimum wage jobs available.
A dangerous assumption IMO.



No you are correct. It would only be a short term gain in tax revenue. But you would lock it in. Either the private sector keeps the capital or the public sector does. The public sector seems to have an issue with reclaiming revenue from any larger than a small bussiness. In a way it is a force out by means of headcount reduction through wage increases.

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Eight
 

Registered: Mar 2009
Posts: 3357

 

04-15-12 02:57 PM


Quote from Cache Landing:



Given that almost every economist out there agrees that it is a horrible way of accomplishing the proposed goal. Why is it such a popular idea?



It's so that we can look at politicians and know what complete @ssholes some of them are.

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