oldroy
Loc: Western Kansas (No longer in hiding)
Good Question Elizabeth, why isn't?
When Henry Ford doubled his factory workers pay to $5 a day, he created a market for his own product.
I've read that doing that, might be the BEST BUSINESS DECISION EVER MADE.
Check out the min. wage chart below.
The buying power hit it's peak in 1968, mostly down hill from there.
Read more: Federal Minimum Wage Rates, 19552012 | Infoplease.com
http://www.infoplease.com/ipa/A0774473.html#ixzz2O6XQLFDs
oldroy
Loc: Western Kansas (No longer in hiding)
grazeem wrote:
Good Question Elizabeth, why isn't?
When Henry Ford doubled his factory workers pay to $5 a day, he created a market for his own product.
I've read that doing that, might be the BEST BUSINESS DECISION EVER MADE.
Check out the min. wage chart below.
The buying power hit it's peak in 1968, mostly down hill from there.
Read more: Federal Minimum Wage Rates, 19552012 | Infoplease.com
http://www.infoplease.com/ipa/A0774473.html#ixzz2O6XQLFDsCan you explain what your link has to do with raising the minimum wage to $22? You don't know anything about inflation just like the 1/32 Cherokee lady seems to not know. If you do then it is time for you to take into account what would happen to everybody who had to pay that wage. The UAW forced the auto companies to pay even more than that and what was it Obama had to do to keep a couple of them in business?
Come on and get real about this thing.
The UAW had nothing to do with Henry Fords decision.
oldroy
Loc: Western Kansas (No longer in hiding)
grazeem wrote:
The UAW had nothing to do with Henry Fords decision.
But they darned sure had a lot to do with the manufacture of autos all along and they were very instrumental in breaking the companies and forcing Obama to "buy" control of General Motors later known as Geithner Motors, when TurboTax Timmy was their head man and now Government Motors. Have you seen how many factories GM is moving to China? I bet you didn't even pay any attention to that.
GM has been building Buicks in China for 15 years maybe 20 years. They were the first American car company to build a plant in China. None of those Buicks come to the US. They are all for Chinese consumpution.
oldroy
Loc: Western Kansas (No longer in hiding)
grazeem wrote:
GM has been building Buicks in China for 15 years maybe 20 years. They were the first American car company to build a plant in China. None of those Buicks come to the US. They are all for Chinese consumpution.
Buicks? Is that what all those plants they are moving over there are building? I really thought they were going to build Chevys over there, too. I am sure that Cadillac GTS will be being built there in 2013. Whoops that is now, isn't it?
memBrain
Loc: North Carolina (No longer in hiding.)
There is a thing called the consumer price index. This has to do with what a household can expect to pay for a good or service in the US. If we were to raise the minimum wage to $22, the one result we can immediately expect is for prices of every good or service to skyrocket. Nothing happens within a vacuum (economically speaking). Businesses are going to pass the additional cost to the consumer. So, what inevitably will happen is that the cost of everything will rise and eventually stabilize at a new point effectively rendering an employee's gains in income neutral (best case) or down from their previous purchasing power.
oldroy
Loc: Western Kansas (No longer in hiding)
memBrain wrote:
There is a thing called the consumer price index. This has to do with what a household can expect to pay for a good or service in the US. If we were to raise the minimum wage to $22, the one result we can immediately expect is for prices of every good or service to skyrocket. Nothing happens within a vacuum (economically speaking). Businesses are going to pass the additional cost to the consumer. So, what inevitably will happen is that the cost of everything will rise and eventually stabilize at a new point effectively rendering an employee's gains in income neutral (best case) or down from their previous purchasing power.
There is a thing called the consumer price index. ... (
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It is too bad that our newer Democrat Congressmen/women don't understand anything about what effect wages always have on prices. Senator Warren proves that she knows nothing about this subject and that as a leading socialist progressive she really doesn't give a damn about the subject. She seemingly proved that she is 1/32 Cherokee so surely she could prove she is more than 100 percent socialist. In fact with these words she did just that.
Yes prices would go up.
BUT:
In the long run we would ALL be better off!!
my take on raising it is: if the govt would severely lower corp taxes and regulations on businesses that would free up money that employers could afford to pay their employees with, I believe that would overall help the economy, it would increase wealth increase consumer spending inwhich would restart the markets. believe me, I make $17. per hour and I struggle, i cannot imagine anyone making less in this economy.
but there would HAVE to be a 2 minimum wage entries, 1) would be for part time employees which can stay at the current level, 2) the $22. per hour would be for FULL time employees people who have mortgages and responsibilities raising families.
I have seen in wanted adds for at least 15 years where they keep advertising for warehouse laborers for $8 to $9. per hour, its still is like that today in this economy, ARE YOU KIDDING ME??? who can live off that now adays??? employers still want to pay 1990 salaries to hard working americans....
oldroy
Loc: Western Kansas (No longer in hiding)
grazeem wrote:
Yes prices would go up.
BUT:
In the long run we would ALL be better off!!
I think that Elizabeth Warren has a real useful i***t working to make her sound good here. You do know that the C*******ts on college campuses during the 1930s called those students who worked so hard for them, useful i***ts, don't you? Maybe you need to read a book published about that subject in the 1940s or 1950s instead of progressive books printed in the 90s.
memBrain
Loc: North Carolina (No longer in hiding.)
grazeem wrote:
Yes prices would go up.
BUT:
In the long run we would ALL be better off!!
Um, no. We wouldn't. Prices would go up in every area of our lives. If we are lucky, it would balance out with exactly the same purchasing power. For example, Our minimum wage is $7.25 A loaf of bread can cost as little as a dollar. If you were to raise the minimum wage to $22.00, the cost of bread will raise. To maintain parity, bread will have to rise in price to no more than $3.04. Chances are it won't. In all likelihood it will raise to $3.49 or even $3.99 for a single loaf. Or they will reduce the amount they offer to keep it at the same price. Are you ready to pay a dollar for a third of a loaf of bread? That's what liberals and Keynesians don't get. If you increase wages artificially, then prices go up artificially If you leave the market alone, prices tend to stabilize at what the market will bear naturally.
oldroy
Loc: Western Kansas (No longer in hiding)
memBrain wrote:
Um, no. We wouldn't. Prices would go up in every area of our lives. If we are lucky, it would balance out with exactly the same purchasing power. For example, Our minimum wage is $7.25 A loaf of bread can cost as little as a dollar. If you were to raise the minimum wage to $22.00, the cost of bread will raise. To maintain parity, bread will have to rise in price to no more than $3.04. Chances are it won't. In all likelihood it will raise to $3.49 or even $3.99 for a single loaf. Or they will reduce the amount they offer to keep it at the same price. Are you ready to pay a dollar for a third of a loaf of bread? That's what liberals and Keynesians don't get. If you increase wages artificially, then prices go up artificially If you leave the market alone, prices tend to stabilize at what the market will bear naturally.
Um, no. We wouldn't. Prices would go up in every... (
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You mustn't try to explain this to progressive thinkers. They just can't understand any of the t***h about what you say here. They just believe that if wages go up and prices stay the same, (that may happen if the government controlled those things) all the lower classes will be better off. They just can't understand anything to do with inflation.
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