Posted on 01/12/2014 10:48:56 AM PST by Extremely Extreme Extremist
Since the inception of establishing a “minimum wage” the very basic coin of the realm,the cent, has become valueless. Todays penny costs more to make than its assigned value. Even Canada stopped making them.
Yet this is not an argument for abolishing the coin itself. But to point out when a minimum wage rate is raised it affixes a given rate of inflation to the period of time it’s emplaced. All raising the minimum wage does actually is devalue the dollar because costs (purchase prices) eventually get adjusted in time, which is never discussed by those advancing the argument, to compensate for the devalued increase..
When economists discuss monetary value, which is the purchasing power of that unit, they allways refer to the top value of the coin of the realm in our (US) case it’s the dollar which is composed of 100 cents not the most basic unit which is the penny. .
A case in point is in the 1940’s a candy bar cost 5 cents when the hourly minimum wage was $.50 per hour. What does it cost today ? Likewise what were the costs of basic goods and services during that period of time as compared with todays basic wage feel good tinkering ?
Who gets hurt the worst when these adjustments are decreed by government? It’s those living on fixed incomes who’s income value is based on previous minimum wage levels such as social security but not adjusted to the previous current rates of inflation. and that also includes living on government subsidies because those subsidies eventually get increased. .
When these feel good socialists frauds under the democrat party banner propose these increases. That is never considered as they pound their breasts claiming they’re for the little guy. All they’re doing is un-necessarily raising the price on goods and services broadening the demand that those affected seek help from them..
How does someone live on $8.50 an hour?
What’s the impact of two parents trying to live on $8.00 an hour?
So for an extra $3/hr ($9-$12) the low paid workers will give up $5/hr in freebies? Not likely. But make it gainful and there are plenty of retirees who would be happy for part time work. Retirees don't need healthcare or unions and show up on time.
High minimum wage hurts illegals as more qualified (and legal) people will apply.
Yeah, right like the Gubermint wouldn't tweak the threshold for qualifying for Welfare/EBT etc. They would have their $12 per hour, and their welfare on the Middle classes teat.
A very high minimum wage makes the "riff-raff" too expensive to employ.
Maybe he's trying to drive away the poor.
It's a sneaky way of "cleaning up" California.
About 25% less pay when Jamba Juice cuts one of them loose when their labor overhead just went up significantly. There in lies the real problem, two so called adults with kids working for minimum wage. I can type for an hour why the left has gotten society to this point.
So the division in India is a subsidiary of the US company? Why was that subsidiary formed in the first place? What factors drove this decision? FYI, I have formed and owned multiple software firms in multiple countries. I take it you are not management and have no clue how to run a company, based on your rather stupid MBA comment.
“It’s a sneaky way of “cleaning up” California”
Nope, the poor does fairly well in Kalifonia making ZERO dollars an hour.
OTOH, Unz was largely responsible for getting rid of Spanish only classes for Hispanics if public schools.
If this guy has just one employee making less than $12, he needs to be exposed.
Then the one laid off collects unemployment and saves money on transportation costs and day care.
But really Jamba Juice will not compromise service levels by cutting back on employees. That’s a red herring argument.
What will happen is the two parents might be able to live, spend a little more in the community.
Yep, the division in India is a subsidiary of the US company.
Formed because of cheap labor, “diversity”, “global company”, all the standard moronic management mendacity.
The Indians were much cheaper than the Americans.
10% of the cost, and 1% of the competence.
You obviously have an MBA.
The Morons with MBAs at that company drove what was once a global leader in avionics into the ground.
I stand by my comment.
Why stop at $12.00? Why not make it $20.00?
The world has changed over the past 40 years.
Payroll taxes are higher. Zoning laws place work far away from home making car ownership mandatory. The growth of the welfare state has pushed up prices for necessities like food and shelter. In my area, a small one bedroom apartment attached to a larger residence began at $575.
When I was a kid of 12, I was able to ride a bike to a farm to earn money for new clothes for school. I made just under $10/day.
Today's world is very different. Is a 12 year old even allowed on a farm now? And would a parent let their child bike so far away from home?
There were two work settings for kids and young people in the past: farm work and city shop work. Neither required an automobile. A rural kid or young person could get to work easily. A city kid or young person could do the same.
Today's youth exist on islands called subdivisions and there's little direct connection to the working world.
I don’t have an MBA, but I have a number who work for me. You sound like an embittered ex-Rockwell employee. Perhaps you should consider a change of careers.
Nope, the poor does fairly well in Kalifonia making ZERO dollars an hour.
Maybe it's a reverse Cloward-Piven. Force so many onto the public support and collapse the state!
They work for you?
Make sure you don’t hire the one who decided to outsource circuit-card assembly to a company that was so broke they couldn’t buy components. That one nearly shut-down the Boeing 777 assembly line.
And make sure you don’t hire the one who conducted massive layoffs to save money, and then blamed failure-to-deliver on “staffing problems”. He got himself fired when his customer got wind of what he was up to and complained to his boss.
Why should I change careers? I’m good at what I do.
Maybe you are good at what you do at work, but I’m betting you don’t work as an economist or a corporate executive. :)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.