Wealth Inequality in America

[carlfense]

Sure. Manufacturing company. Privately owned in a smallish town. Lets say 100 employees. $3 per hour wage hike due to mandated minimum wage raise. 40 hours per week per employee. $12,000 per week more in wages. Don't forget that employers have to pay the same taxes as the employee does on that paycheck. Plus more unemployment insurance. That's $625,000 in extra wages per year plus taxes of say an additional $150,000 per year in employment taxes. Over $750,000 in additional money comes out of the pocket of the employer.

 

I have to say going paperless and renting equipment like it said in the google it page probably won't cover that.

So your hypothetical company has 100 minimum wage employees and a single non-minimum wage (presumably) owner? Yeah . . . I get the feeling that you're designing this with a specific outcome in mind . . .

[sd'sker]

6 Ways A $12 Minimum Wage Would Help The Economy

 

Even if the nation's largest retailers decided to pass off the cost of a $12.25 minimum wage increase entirely to customers, Demos found that an average household would spend just 7 to 15 cents more per shopping trip.

• The average shopper would pay just 15 cents more per shopping trip at most
  

seems worth it.

[StPaulHusker]

Sure. Manufacturing company. Privately owned in a smallish town. Lets say 100 employees. $3 per hour wage hike due to mandated minimum wage raise. 40 hours per week per employee. $12,000 per week more in wages. Don't forget that employers have to pay the same taxes as the employee does on that paycheck. Plus more unemployment insurance. That's $625,000 in extra wages per year plus taxes of say an additional $150,000 per year in employment taxes. Over $750,000 in additional money comes out of the pocket of the employer.

 

I have to say going paperless and renting equipment like it said in the google it page probably won't cover that.

So your hypothetical company has 100 minimum wage employees and a single non-minimum wage (presumably) owner? Yeah . . . I get the feeling that you're designing this with a specific outcome in mind . . .

I didn't say that. I said that there were 100 minimum wage employees at this company. I didn't specify any other owners, staff or anything else. I get the feeling you are stalling for time by coming up with clever things to say.

 

 

[carlfense]

Sure. Manufacturing company. Privately owned in a smallish town. Lets say 100 employees. $3 per hour wage hike due to mandated minimum wage raise. 40 hours per week per employee. $12,000 per week more in wages. Don't forget that employers have to pay the same taxes as the employee does on that paycheck. Plus more unemployment insurance. That's $625,000 in extra wages per year plus taxes of say an additional $150,000 per year in employment taxes. Over $750,000 in additional money comes out of the pocket of the employer.

 

I have to say going paperless and renting equipment like it said in the google it page probably won't cover that.

So your hypothetical company has 100 minimum wage employees and a single non-minimum wage (presumably) owner? Yeah . . . I get the feeling that you're designing this with a specific outcome in mind . . .

I didn't say that. I said that there were 100 minimum wage employees at this company. I didn't specify any other owners, staff or anything else.

You said 100 employees, $3 per hour hike per, for a total of $12,000. So you did, in fact, say that.

[StPaulHusker]

Sure. Manufacturing company. Privately owned in a smallish town. Lets say 100 employees. $3 per hour wage hike due to mandated minimum wage raise. 40 hours per week per employee. $12,000 per week more in wages. Don't forget that employers have to pay the same taxes as the employee does on that paycheck. Plus more unemployment insurance. That's $625,000 in extra wages per year plus taxes of say an additional $150,000 per year in employment taxes. Over $750,000 in additional money comes out of the pocket of the employer.

 

I have to say going paperless and renting equipment like it said in the google it page probably won't cover that.

So your hypothetical company has 100 minimum wage employees and a single non-minimum wage (presumably) owner? Yeah . . . I get the feeling that you're designing this with a specific outcome in mind . . .

I didn't say that. I said that there were 100 minimum wage employees at this company. I didn't specify any other owners, staff or anything else.

You said 100 employees, $3 per hour hike per, for a total of $12,000. So you did, in fact, say that.

We are talking about minimum wage employees, are we not? I figured if I said "employees" you would get the meaning. Again. Stalling much?

[StPaulHusker]

6 Ways A $12 Minimum Wage Would Help The Economy

 

Even if the nation's largest retailers decided to pass off the cost of a $12.25 minimum wage increase entirely to customers, Demos found that an average household would spend just 7 to 15 cents more per shopping trip.

• The average shopper would pay just 15 cents more per shopping trip at most
  

seems worth it.

If that's the case then why not make it $20 per hour? That would make the shopping trip only 20 cents more.

 

And don't forget the people that were already making the $12 per hour. They are presumably going to want a pay hike because their job is supposed to be better paying than minimum wage. So now what does that shopping trip cost?

[HSKR]

6 Ways A $12 Minimum Wage Would Help The Economy

 

Even if the nation's largest retailers decided to pass off the cost of a $12.25 minimum wage increase entirely to customers, Demos found that an average household would spend just 7 to 15 cents more per shopping trip.

• The average shopper would pay just 15 cents more per shopping trip at most
  

 

seems worth it.

The average shopper wouldn't have to pay anymore after the employer cuts his staff to cover the additional costs of raising it to $12.

[sd'sker]

The average shopper wouldn't have to pay anymore after the employer cuts his staff to cover the additional costs of raising it to $12.

132,000 new jobs could be created

If the increase in economic activity reached $15.2 billion, retailers would need 132,000 new employees.

 

The wage increase would actually only cost retailers about 1 percent of total sales

Large retailers would need to absorb the higher labor cost for the 3.5 million workers earning less than $12.25 per hour. But according to Demos, most of this increase in costs would be returned to the firm in the form of productivity gains and increased revenues, amounting to only 1 percent of their total yearly sales.

[HSKR]

The average shopper wouldn't have to pay anymore after the employer cuts his staff to cover the additional costs of raising it to $12.

132,000 new jobs could be created

If the increase in economic activity reached $15.2 billion, retailers would need 132,000 new employees.

 

The wage increase would actually only cost retailers about 1 percent of total sales

Large retailers would need to absorb the higher labor cost for the 3.5 million workers earning less than $12.25 per hour. But according to Demos, most of this increase in costs would be returned to the firm in the form of productivity gains and increased revenues, amounting to only 1 percent of their total yearly sales.

 

I'm sure the "study" would come out just like that. About the same as all the positive Obamacare predictions did. Come back and share when you can actually find some facts instead of hopes and dreams.

 

Of course that begs the question if it really would be that great then why wouldn't businesses simply do it themselves without the law requiring it? Don't any Liberals own businesses and set the example themselves? Since we know it's all the evil Republicans fault.

 

Oh and once again $15 billion into the economy is nothing compared to what we need.

[Mavric]

No, there are obviously other options available. I should have said "is likely to raise prices" instead of "has to".

Raising prices is probably the easiest option from a management perspective. That doesn't mean that it's the best option.

 

I'd venture a guess that nearly the same arguments have been made every time the minimum wage laws have been increased (and probably when they were first enacted) and yet disaster has been averted.

6 Ways A $12 Minimum Wage Would Help The Economy

 

Even if the nation's largest retailers decided to pass off the cost of a $12.25 minimum wage increase entirely to customers, Demos found that an average household would spend just 7 to 15 cents more per shopping trip.

• The average shopper would pay just 15 cents more per shopping trip at most
  

seems worth it.

The point is not that wages cannot be increased. The point is that the money for said increases has to come from somewhere. Whether that comes from raising prices, cutting hours or staff, purchasing less new equipment or whatever, it is basically taking some other money out of the economy to provide for the increased wages. If someone can show me where the "studies" saying the increased minimum wage will be a boost to the economy is taking the other factors into account, I'd be happy to look at their reasoning. So far no one has done that so I'm left to include that they are ignoring the other side of the coin to make their study say what they want.

[BigRedBuster]

No, there are obviously other options available. I should have said "is likely to raise prices" instead of "has to".

Raising prices is probably the easiest option from a management perspective. That doesn't mean that it's the best option.

 

I'd venture a guess that nearly the same arguments have been made every time the minimum wage laws have been increased (and probably when they were first enacted) and yet disaster has been averted.

 

In fact, they have, which is noted in the Huffington Post article I linked to here:

http://www.huskerboa...ost__p__1182642

 

 

And, in the next breath people complain that jobs are leaving the US for areas of the world with lower wages.

[BigRedBuster]

Let me throw this out there because I see people on minimum wage as two different groups.

 

There are the people who are trying to live off of these wages.

 

Then, there are the teen agers and college kids who this is their first entry level position. They don't have many job skills but they are getting experience to hopefully move up as they get older and better trained/educated.

 

So....would you be in favor of a two level minimum wage? Maybe have a minimum wage for people under 20 years old and one for people over 20 years old?

[sd'sker]

I'm sure the "study" would come out just like that. About the same as all the positive Obamacare predictions did. Come back and share when you can actually find some facts instead of hopes and dreams.

i am not seeing any studies disproving it or saying the the recent raises in the minimum wage has hurt the economy.

Of course that begs the question if it really would be that great then why wouldn't businesses simply do it themselves without the law requiring it? Don't any Liberals own businesses and set the example themselves? Since we know it's all the evil Republicans fault.

there is a lot of projection here. but who says business always operate in their best interests? or that they ever demonstrate foresight?

Oh and once again $15 billion into the economy is nothing compared to what we need.

oh the nirvana fallacy. if it does not fix everything, why let it help anything. meanwhile, the politicians were debating cutting funding to pbs.

[carlfense]

We are talking about minimum wage employees, are we not?

We are. How many other employees are there? Are the facilities owned or leased? What's the equipment like? How about the book keeping?

 

Again. Stalling much?

Right . . . you've said nothing more than that there are 100 minimum wage employees who would be paid X dollars more . . . and now I'm supposed to offer a real analysis with no other facts?

 

I don't need to stall to make your hypothetical look comical. You're doing great.

[carlfense]

Let me throw this out there because I see people on minimum wage as two different groups.

 

There are the people who are trying to live off of these wages.

 

Then, there are the teen agers and college kids who this is their first entry level position. They don't have many job skills but they are getting experience to hopefully move up as they get older and better trained/educated.

 

So....would you be in favor of a two level minimum wage? Maybe have a minimum wage for people under 20 years old and one for people over 20 years old?

Interesting idea.