CBO Report Minimum Wage

Discussion in 'West Mall' started by theiioftx, Feb 18, 2014.

  1. theiioftx

    theiioftx Sponsor Deputy

    Basic economics escapes the democrats again. CBO report estimates that the President's plan to raise the minimum wage to $10.10 per hour could cost 550,000 jobs.
    The Link
     
  2. Roger

    Roger 1,000+ Posts

    ...but those with jobs will at least be making a living wage, oh wait no they won't. At $10.10 an hour I don't think you are raising a family.
     
  3. nashhorn

    nashhorn 5,000+ Posts

    But you'll have free health care.
     
  4. Bayerithe

    Bayerithe 1,000+ Posts

    what really escapes me is this. If you look at the percentage of age groups who actually hold minimum wage jobs, a HUGE bulk are people under the age of 24. These are not the breadwinners in a family. these are kids just trying to make extra cash.
     
  5. accuratehorn

    accuratehorn 10,000+ Posts

    I have read it takes between $12 and $15 per hour to achieve lower middle class status. I don't think $10.10 is enough for a breadwinner, they would still be in the poverty class. But the minimum wage should be raised, it hasn't increased in quite a few years, and hasn't kept pace with inflation. Nobody should have to work for $7 or $8 per hour.
    These jobs are not just kids making extra bucks after school to buy mag wheels for their Mustang. A lot of people work full time for these low wages.
     
  6. zork

    zork 2,500+ Posts

    Why not raise it to 20$/hour, but let's not think about the consequences till we do it? (/Pelosi)
     
  7. Bayerithe

    Bayerithe 1,000+ Posts

    why is it the government's job to make sure people are above the poverty line? do we place no accountability on the people themselves to improve their own lives?
     
  8. Horn6721

    Horn6721 10,000+ Posts

    accurate
    can you provide a link that shows how many adults are working full time at minimum wage?

    Other important considerations are how soon people who stay at the same place and actually show up for work get raises .
    Most places give raises somewhere in the 3-6 month range of an employee proving dependability.

    If someone has been reliably at the same place for a year There is almost no way they would still be making minimum wage.
    There could be really small businesses that only give raises once a year
    BUT if the worker is good and dependable that worker can get a better job elsewhere

    Bayer is 100% correct. a large majority, a HUGE majority of people have the ability in their own hands to improve their wage.
     
  9. zork

    zork 2,500+ Posts

    Is it really the job of the government to think about the consequences, intended or not, that come due to the laws or Executive Orders it enacts?
     
  10. Larry T. Spider

    Larry T. Spider 1,000+ Posts

    Ultimately, I am against minimum wage laws in general. Its up to people to make sure that they acquire skills that make them competitive in the job market or work more hours. The silver lining is that a $10 min wage would probably attract some people sitting on the couch back into the workforce. It would also reduce the amount of government benefits that people are receiving. Its intuitive that forcing higher wages will result in higher unemployment but I dont think that it has happened in the past (could be wrong). I think employers generally hire as few low level employees as they can get away with. They would still need the employees even if the wages were higher.
     
  11. dillohorn

    dillohorn Guest

    Don't forget your free Obozophone.
     
  12. Horn6721

    Horn6721 10,000+ Posts

    is there a study on how much companies would have to rause the people already making $10.00 because they have proven themselves and earned raises?
    and if they get raised to say $11.00 then how much would the people already getting $11.00 want ?
    etc etc

    We should stop and really look at the issue
    How many adults are there only making minimum wage who have been at the same job for a year?
    WHY are there any adults making only minimum wage IF they have been at the same job for more than a year?
     
  13. Larry T. Spider

    Larry T. Spider 1,000+ Posts


     
  14. accuratehorn

    accuratehorn 10,000+ Posts

    Wow, theiioftx, now that I have read the study, I see that you highlighted the one negative effect of raising the minimum wage, where all the other effects are positive, and for many more people. That's typical selective bias, I suppose.
    In the overall picture, the benefits outweigh the negative effects. I like to see the big picture, the benefit to the most people.
     
  15. theiioftx

    theiioftx Sponsor Deputy

    Interesting. So are you in favor of losing your job as long as others, mostly teenagers, get a big raise?
     
  16. hornpharmd

    hornpharmd 5,000+ Posts


     
  17. Uninformed

    Uninformed 5,000+ Posts

    In reply to:

    Basic economics escapes the democrats again. CBO report estimates that the President's plan to raise the minimum wage to $10.10 per hour could cost 550,000 jobs.



    In reply to:

    Guess we will just have to wait a little longer for that cheeseburger at the drive thru


    As long as we can still afford it.
     
  18. Vol Horn 4 Life

    Vol Horn 4 Life Good Bye To All The Rest!


     
  19. LonghorninAustin

    LonghorninAustin 1,000+ Posts


     
  20. Vol Horn 4 Life

    Vol Horn 4 Life Good Bye To All The Rest!

    I pay about $18k more a year now than I did six years ago. Is that enough for you?
     
  21. theiioftx

    theiioftx Sponsor Deputy

    Basic economics escapes some liberals more than others.
     
  22. LonghorninAustin

    LonghorninAustin 1,000+ Posts


     
  23. theiioftx

    theiioftx Sponsor Deputy

    You might want to check your tax calculations and tax advice. For people who own businesses, especially in multiple states, taxes come in many shapes and forms - especially in today's environment.
     
  24. UTChE96

    UTChE96 2,500+ Posts

    It is astounding how basic tenets of economics escape liberals even liberals who have degrees in economics. Ask yourself if raising it to $10 is good then why not raise it to $12 or $20 or even higher? Why only $10? This is all about political power and payoffs not about poverty.
     
  25. UTChE96

    UTChE96 2,500+ Posts

    It is also interesting to actually look at who actually makes minimum wage.

    www.pewresearch.org/fact-tank/2013/07/19/who-makes-minimum-wage/

    Over half minimum wage earners are young and 64% of the total are part time workers. Furthermore, over half of the total workers are in hospitality and leisure which means they likely supplement their income with tips.
     
  26. Horn6721

    Horn6721 10,000+ Posts

    UTChe96
    Thank you for finding that and posting it.
    of course the facts will not fit Dems or BO's agenda
    especially the second fact
    '◾Disproportionately young: 50.6% are ages 16 to 24; 24% are teenagers (ages 16 to 19).
    ◾Mostly (78%) white; fully half are white women.
    ◾Largely part-time workers (64% of the total).

    The only other stat I would like to see is how many workers remain at minimum wage in the same job for more than 6-9 months.

    Once again, like with obamacare Dems' libs seem willing to wreck a system and create severe unintended consequences to perhaps benefit a small %

    Well I amend the unintended consequence remark. some of the most harmful consequences might be intentional
     
  27. Bayerithe

    Bayerithe 1,000+ Posts

    Vol Horn [​IMG]
     
  28. Vol Horn 4 Life

    Vol Horn 4 Life Good Bye To All The Rest!


     

Share This Page