Need help understanding economics ...
 

Can one of you economic geniuses explain why raising the minimum wage to
$15/hr is going to benefit millions of low income people?

Put aside the fact that traditionally minimum wage jobs were filled by
high school students in the afternoons and weekends to earn a little
date money. No one was trying to pay a mortgage or rent and feed a
family earning minimum wage.

Seems to me that if the minimum wage is raised, the cost of goods and
services by those offering minimum wage jobs will rise. If the cost of
goods and services goes up, then the price charged for them will also go
up. In short order, people making minimum wage will have their buying
power pretty much back to where it was before the increase.

I know it sounds good for political candidates to promise increases in
minimum wage, but realistically what does it accomplish?

Wouldn't it be better to develop programs that encourage business growth
and expansion, thus creating much higher pay scales that people can
provide for a family with? Leave the minimum wage jobs for teenagers.

Need help understanding economics ...
 

Mr. Luddite wrote:
Can one of you economic geniuses explain why raising the minimum wage to
$15/hr is going to benefit millions of low income people?

Put aside the fact that traditionally minimum wage jobs were filled by
high school students in the afternoons and weekends to earn a little
date money. No one was trying to pay a mortgage or rent and feed a
family earning minimum wage.

Seems to me that if the minimum wage is raised, the cost of goods and
services by those offering minimum wage jobs will rise. If the cost of
goods and services goes up, then the price charged for them will also go
up. In short order, people making minimum wage will have their buying
power pretty much back to where it was before the increase.

I know it sounds good for political candidates to promise increases in
minimum wage, but realistically what does it accomplish?

Wouldn't it be better to develop programs that encourage business growth
and expansion, thus creating much higher pay scales that people can
provide for a family with? Leave the minimum wage jobs for teenagers.




Actually raising the minimum wage is counter productive! We make it even
easier to justify sending labor jobs overseas.

Need help understanding economics ...
 

On 10/14/15 5:34 PM, Mr. Luddite wrote:
Can one of you economic geniuses explain why raising the minimum wage to
$15/hr is going to benefit millions of low income people?

Put aside the fact that traditionally minimum wage jobs were filled by
high school students in the afternoons and weekends to earn a little
date money. No one was trying to pay a mortgage or rent and feed a
family earning minimum wage.

Seems to me that if the minimum wage is raised, the cost of goods and
services by those offering minimum wage jobs will rise. If the cost of
goods and services goes up, then the price charged for them will also go
up. In short order, people making minimum wage will have their buying
power pretty much back to where it was before the increase.

I know it sounds good for political candidates to promise increases in
minimum wage, but realistically what does it accomplish?

Wouldn't it be better to develop programs that encourage business growth
and expansion, thus creating much higher pay scales that people can
provide for a family with? Leave the minimum wage jobs for teenagers.



You can't put aside the fact that more than half of today's minimum wage
workers are not teenagers, a lot of them are women, and a lot of them
are trying to support themselves and their families.

Oh, and people with more money in their pockets at that part of the
economic scale spend their money, and that creates more demand for
services and products and more jobs.

Robert Reich has a bit on this:

https://www.youtube.com/watch?v=WXKLa2zfoTk

At present, the federal minimum wage is half of that $15. That higher
number is a goal.

Need help understanding economics ...
 

In article ,
says...

On 10/14/15 5:34 PM, Mr. Luddite wrote:
Can one of you economic geniuses explain why raising the minimum wage to
$15/hr is going to benefit millions of low income people?

Put aside the fact that traditionally minimum wage jobs were filled by
high school students in the afternoons and weekends to earn a little
date money. No one was trying to pay a mortgage or rent and feed a
family earning minimum wage.

Seems to me that if the minimum wage is raised, the cost of goods and
services by those offering minimum wage jobs will rise. If the cost of
goods and services goes up, then the price charged for them will also go
up. In short order, people making minimum wage will have their buying
power pretty much back to where it was before the increase.

I know it sounds good for political candidates to promise increases in
minimum wage, but realistically what does it accomplish?

Wouldn't it be better to develop programs that encourage business growth
and expansion, thus creating much higher pay scales that people can
provide for a family with? Leave the minimum wage jobs for teenagers.



You can't put aside the fact that more than half of today's minimum wage
workers are not teenagers, a lot of them are women, and a lot of them
are trying to support themselves and their families.


Why not just put that aside? Best to not make it too
complicated.

Need help understanding economics ...
 

On Wed, 14 Oct 2015 18:32:46 -0400, Keyser Söze
wrote:

Oh, and people with more money in their pockets at that part of the
economic scale spend their money, and that creates more demand for
services and products and more jobs.

That is a "jobs" problem, not a wage problem.
We need more jobs that justify more than minimum wage

Need help understanding economics ...
 

Boating All Out wrote:
In article ,
says...

On 10/14/15 5:34 PM, Mr. Luddite wrote:
Can one of you economic geniuses explain why raising the minimum wage to
$15/hr is going to benefit millions of low income people?

Put aside the fact that traditionally minimum wage jobs were filled by
high school students in the afternoons and weekends to earn a little
date money. No one was trying to pay a mortgage or rent and feed a
family earning minimum wage.

Seems to me that if the minimum wage is raised, the cost of goods and
services by those offering minimum wage jobs will rise. If the cost of
goods and services goes up, then the price charged for them will also go
up. In short order, people making minimum wage will have their buying
power pretty much back to where it was before the increase.

I know it sounds good for political candidates to promise increases in
minimum wage, but realistically what does it accomplish?

Wouldn't it be better to develop programs that encourage business growth
and expansion, thus creating much higher pay scales that people can
provide for a family with? Leave the minimum wage jobs for teenagers.



You can't put aside the fact that more than half of today's minimum wage
workers are not teenagers, a lot of them are women, and a lot of them
are trying to support themselves and their families.


Why not just put that aside? Best to not make it too
complicated.


That is a lack of higher ting jobs, or lack of any ability. The employer
will pay what the job is worth at most. He will try to pay less, just as
you like to any less for the same product. But he can not pay more than
total Delivery cost which includes wages, benefits, rent, all overhead not
including wages, and a profit.