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33   tatupu70   ignore (0)   2014 Feb 2, 10:03pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Paralithodes says

Right... Apparently you have nothing but assumptions (not even based on experience), yet somehow you know that any points contrary to your position, or "narrative" as you like to put it, are wrong. How do you know you are right about all of this?

OK--I don't even know what you are talking about now. First off--I have lots of experience (not that it really matters). Logical fallacy--appeal to authority.

How do I "know" that I'm right about all this? I don't think I would say that I "know"--I'm stating my opinions based on history, data, and logic.

34   RentingForHalfTheCost   ignore (5)   2014 Feb 2, 10:33pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

mell says

The US has been consuming way too much and not producing enough, incl. capital formation

Free money baby! Pass the gravy boat! Keep it coming, I need the iphone10 more than I need a job. Unemployment benefits until I die! Love this country.

35   control point   ignore (0)   2014 Feb 3, 4:16am   ↑ like (1)   ↓ dislike (0)   quote   flag        

Fixed employment costs lower employment levels.

Variable employment costs have no bearing on prices. Prices are determined by the market.

36   HonkpilledMaster   ignore (5)   2014 Feb 3, 5:16am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Princeton University: NJ's 1992 minimum wage increase had no effect on employment in fast food sector, when compared to neighboring PA that did not have a wage increase.
http://davidcard.berkeley.edu/papers/njmin-aer.pdf

37   FortWayne   ignore (4)   2014 Feb 3, 5:17am   ↑ like (0)   ↓ dislike (0)   quote   flag        

They'll never do that. It's why it became a double edged sword.

lostand confused says

FortWayne says

You can't eliminate poverty just by raising minimum wage in a single

country... that's gullible communist mentality. It doesn't work, especially when

companies are given options to simply send work overseas to cheaper slave labor

that do not follow US "minimum wage" laws.

Yup. Now if when raising minimum wages, the govt says that any business that imports goods/services to the US should also pay US minimum wages to their employees and must adhere to all US laws-then fine. Else businesses can simply move. NAFTA and now that Obozo the clown is trying to sign the giant free trade deal that dwarfs NAFTA-and in secret-people can just up and move. This has been going on for decades.

38   Tenpoundbass   ignore (14)   2014 Feb 3, 8:53am   ↑ like (1)   ↓ dislike (1)   quote   flag        

Me? Liar, I'm not the one claiming the Jews bombed New York.

39   Reality   ignore (5)   2014 Feb 3, 8:54am   ↑ like (0)   ↓ dislike (0)   quote   flag        

E-man says

I support increasing the minimum wage to between $15-$20/hour. This would be very good for landlords and businesses.

For big business with the capital for automation, I can see (profitting from eliminating competition that can not afford automation). How would higher unemployment among the working age, especially the entry level labor most likely to be renters being shut out of the legal labor market and having to resort to criminal enterprises like drugs dealing and prostitution, how would that benefit the landlords?

Tablets and burger flipping machines don't rent apartments.

40   Reality   ignore (5)   2014 Feb 3, 9:08am   ↑ like (0)   ↓ dislike (0)   quote   flag        

control point says

Fixed employment costs lower employment levels.

Variable employment costs have no bearing on prices. Prices are determined by the market.

Which is why raising minimum wage at this juncture is not only non-inflationary but highly deflationary: the prices of fast food won't go up, but the line cook jobs and counter jobs will be replaced by machines and self-service touch screens. Those marching today for $15/hr fast food service jobs will be remembered like the Air Traffic Controllers of the early 1980's: striking for their own replacement.

Minimum wage workers account for only 1% of the total work force, but is highly concentrated in the fast food industry, where automation is just around the corner.

41   Reality   ignore (5)   2014 Feb 3, 9:10am   ↑ like (0)   ↓ dislike (0)   quote   flag        

thunderlips11 says

Princeton University: NJ's 1992 minimum wage increase had no effect on employment in fast food sector, when compared to neighboring PA that did not have a wage increase.

http://davidcard.berkeley.edu/papers/njmin-aer.pdf

If they did a study this year using the same parameters, they'd conclude raising minimum wages by $1 might bring the SuperBowl to your state, or having your governor impeached.

The study obviously failed to account for the rise of NYC in the 1990's and the decline of Philadelphia during that same time period.

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