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LSUnKaty
LSU Fan
Katy, TX
Member since Dec 2008
3298 posts

re: Explain to me how raising minimum wage


quote:

Good for Families
quote:

With more family income, some people would choose to retire, go back to school, or have children, making it easier for others who need jobs to find them. Working families would have more time for community life, including politics; Americans would start to reclaim the middle-class political organization that they once had. Because payroll- and income-tax revenues would rise, the federal deficit would come down. Social Security worries would fade.
WOW! That's really great.

Lets raise it to $20/hr. Just think what benefits we would derive then!!!!






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Tesla
LSU Fan
the Laurentian Abyss
Member since Dec 2011
575 posts

re: Explain to me how raising minimum wage


quote:

Good for Families: According to economist James Galbraith, raising the minimum wage would raise the incomes of 28 million Americans. Women would particularly benefit because they tend to work for lower wages than men. As Galbraith sees it, raising the minimum wage is family friendly policy: “With more family income, some people would choose to retire, go back to school, or have children, making it easier for others who need jobs to find them. Working families would have more time for community life, including politics; Americans would start to reclaim the middle-class political organization that they once had. Because payroll- and income-tax revenues would rise, the federal deficit would come down. Social Security worries would fade.”


Galbraith is an academic assclown. Let me tell you how it actually works. I have 27 employees. I need to keep 35% of them at or near $8.00/hr. Those aren't positions filled by middle aged men or women who are the primary bread winners in their respective families. They are teenagers on the register or in the mulch yard and retirees that already have retirement and/or social security. If minimum wage goes to $9.00 per hour, I won't just give everybody raises and I certainly can't just raise the prices on everything and expect to sell the same items to the same customers. The market is fluid and in this terrible economy, price is king in our neighborhood. We have pricing algorithims that help us manage our margins but any increase is almost always noticed, especially by our regulars. I would likely lay off two minimum wage workers per shift OR one of my full time workers who actually IS the primary bread winner in his/her family. The rest would have to take up the slack.



This post was edited on 2/13 at 11:25 am


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Lsut81
USA Fan
Member since Jun 2005
61454 posts

re: Explain to me how raising minimum wage


Yahoo Finance has a poll up and 62% of people think it will hurt small busienss...

But don't worry, Obama knows what is best for us all






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jcole4lsu
Virginia Fan
The Kwisatz Haderach
Member since Nov 2007
26396 posts

re: Explain to me how raising minimum wage


quote:

Friedrich Nietzsche

a) wall o' text
b) lulz
c) no one with a functioning brain and a degree in econ thinks this is a good idea. my guess is Mr Galbraith has long since sold his soul to the Democratic Party and can no longer be considered an "economist" .... similar to Mr Krugman.







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Geaux-2-L-O-Miss
LSU Fan
Between Your Ears
Member since Aug 2005
1883 posts

re: Explain to me how raising minimum wage


If raising minimum wage is the answer; why do we always hear that more people are now below the poverty line about 6 months after each raise?





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