California to raise minimum wage to $10hr | Page 6 | TigerDroppings.com

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Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
15493 posts

re: California to raise minimum wage to $10hr


quote:

Which would be basically nobody.
If everyone gets a proportional raise, then the increase in the minimum wage has resulted in zero improvement in relative purchasing power. So what is the point? They will just be able to pay a higher price for the same goods and services. Just another feel good exercise of form over substance that liberals use to perpetuate the myth that they care about the less fortunate.






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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120729 posts

re: California to raise minimum wage to $10hr


quote:

Another nail in Calipornia's economy's coffin.






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jcole4lsu
Virginia Fan
The Kwisatz Haderach
Member since Nov 2007
27070 posts

re: California to raise minimum wage to $10hr


quote:

The purpose of any graph in economics is to fool people into thinking economics is a real science.

ahh, i see.
you dont just understand economics, you understand its concept better than anyone else in history.

niiiiiiiiiiiiiiiiiiiiiiiiice






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SpidermanTUba
LSU Fan
Member since May 2004
29999 posts
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re: California to raise minimum wage to $10hr


quote:


As opposed the your "understanding" of economics?


Is it your understanding of economics that all markets are efficient all the time? That would be another assumption implicit in the toy model presented about. Its quite often a faulty assumption.







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CamdenTiger
Member since Aug 2009
27703 posts

re: California to raise minimum wage to $10hr


OMG, this thread is still going..Who has a "Don't feed troll" pic keyed up....Jeez!





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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120729 posts

re: California to raise minimum wage to $10hr


quote:

The simpletons celebrate because they're making "more money". Then they bitch about rising prices.


They're coming out ahead in the deal so long as they don't get forced out of employment because of a wage basement.






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SpidermanTUba
LSU Fan
Member since May 2004
29999 posts
 Online 

re: California to raise minimum wage to $10hr


quote:

OMG, this thread is still going..Who has a "Don't feed troll" pic keyed up....Jeez!


I'm not trolling.






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SpidermanTUba
LSU Fan
Member since May 2004
29999 posts
 Online 

re: California to raise minimum wage to $10hr


quote:


ahh, i see.
you dont just understand economics, you understand its concept better than anyone else in history.

niiiiiiiiiiiiiiiiiiiiiiiiice


That's not what I said.






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90proofprofessional
LSU Fan
Member since Mar 2004
9244 posts
 Online 

re: California to raise minimum wage to $10hr


quote:

Great, I'll be playing higher prices for shite.

Maybe, but possibly not as much as you'd think. This will incentivize the speeding of automation in that type of work.






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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120729 posts

re: California to raise minimum wage to $10hr


I think what people fail to realize in this whole supply and demand thing is that there isn't much of a supply of people willing to work for federal minimum wage in CA with the cost of living there.

Really, why even bother?






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SpidermanTUba
LSU Fan
Member since May 2004
29999 posts
 Online 

re: California to raise minimum wage to $10hr


quote:

I think what people fail to realize in this whole supply and demand thing is that there isn't much of a supply of people willing to work for federal minimum wage in CA with the cost of living there.

Really, why even bother?



In the cities where rent is out the ass, for sure. And if you are living on minimum wage in LA or Oakland - you're almost certainly getting some sort of federal housing subsidy.


What the toy model economic plots in this thread don't show is that Americans are already paying enough for Californians to effectively make a $10 minimum wage, its just that the employers only foot about $7 of that! The rest comes from the U.S. and California taxpayers.






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NC_Tigah
LSU Fan
Member since Sep 2003
53075 posts

re: California to raise minimum wage to $10hr


quote:

I think what people fail to realize in this whole supply and demand thing is that there isn't much of a supply of people willing to work for federal minimum wage in CA with the cost of living there.

Really, why even bother?






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jcole4lsu
Virginia Fan
The Kwisatz Haderach
Member since Nov 2007
27070 posts

re: California to raise minimum wage to $10hr


quote:

This will incentivize the speeding of automation in that type of work

this is a distinct possibility. will those newly displaced workers be crying foul if that happens?






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90proofprofessional
LSU Fan
Member since Mar 2004
9244 posts
 Online 

re: California to raise minimum wage to $10hr


quote:

will those newly displaced workers be crying foul

i'd actually expect the vast majority of the effect to manifest in a slowing of new hiring, and not in actual firings, since it's typically only very new hires (and a small number of absolute frick-ups) that make minimum wage






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NC_Tigah
LSU Fan
Member since Sep 2003
53075 posts

re: California to raise minimum wage to $10hr


quote:

What the toy model economic plots in this thread don't show
You might demonstrate some remote semblance of understanding of that graph before you attempt to discuss what it does not show.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
82993 posts
 Online 

re: California to raise minimum wage to $10hr


quote:

Is it your understanding of economics that all markets are efficient all the time?
No. And you're showing your ignorance again even suggesting that.


quote:

That would be another assumption implicit in the toy model presented about.
No, it's not.

The model can be duplicated for any job classification and the results would be the same. Only the point where the supply and demand lines meet would change.

This model attempts to depict the MEDIAN equilibrium point for jobs supplied and jobs wanted and shows how workers who would like to work are priced out of a job with a minimum wage which exceeds the equilibrium point.

Just because you don't understand what the graph depicts (which you obviously don't based on your juvenile explanation of what you think it shows) reveals to everyone your ignorance again.

I have bookmarked this thread in order to throw it back into your face every time you claim any expertise in financial matters.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
82993 posts
 Online 

re: California to raise minimum wage to $10hr


quote:

What the toy model economic plots in this thread don't show

You might demonstrate some remote semblance of understanding of that graph before you attempt to discuss what it does not show.
This.






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jcole4lsu
Virginia Fan
The Kwisatz Haderach
Member since Nov 2007
27070 posts

re: California to raise minimum wage to $10hr


im just leaving this here, no commentary needed...







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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
82993 posts
 Online 

re: California to raise minimum wage to $10hr








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SpidermanTUba
LSU Fan
Member since May 2004
29999 posts
 Online 

re: California to raise minimum wage to $10hr


quote:

You might demonstrate some remote semblance of understanding of that graph before you attempt to discuss what it does not show.





What don't you understand about the graph?






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