Favorite Presidential Candidate

[#NewWizard]

Alright, enough is enough. People need to stop worrying about Trump's dumbass domestic policy, and whether or not illegal immigrants are illegal

 

WHAT

[=TNW= Maximus™]

Im not against raising the minimum wage but people really need to stop thinking that raising minimum wage is actually a good thing. Raising minimum wage, yes you get "more" money but that doesnt mean your purchasing power increases (i.e. you have more on paper but you situation doesnt change) and typically raising it especially at such a substantial amount if anything will cause more problems.

 

1) If minimum wage doubled companies wont employ the same amount of people they will lay off a large amount whilst increasing the workload for those still on the job.

2) A high minimum wage is detrimental to the manufacturing sector and is also the reason why many companies simply outsource things overseas. Worth noting that America is already barely keeping up...

3) All increased costs in the end are passed back to the consumer anyways, many people seem to think something along the lines of: I'm making 5$ now and 1 loaf of bread is 5$ if it doubles then I can get 2 loafs of bread which is just not true. The cost of production increases for them to make the loaf and it will increase proportionally.

4) It will literally destroy local businesses who already have trouble competing against global giants.

 

The point of increasing minimum wage is basically economic stimulus because workers feel like they "have more" they can spend more in the economy which then leads to companies hiring even more people...etc However that is a horribly short term view and in the long run does more damage than good not to mention it doesnt do much for poverty at all.

 

Yep, either companies will lay off people, or they'll raise the price of everything 2x

[Sniper Noob]

Yep, either companies will lay off people, or they'll raise the price of everything 2x

 

I seriously doubt every company will double their prices because of an increased minimum wage, and if they do, competition would drive them back down. If the minimum wage was increased I think it's possible that at first businesses would have to lay workers off or increase prices, but once things reach a stable level I think it would settle back down. 

[ϟRai-Raiϟ]

I seriously doubt every company will double their prices because of an increased minimum wage, and if they do, competition would drive them back down. If the minimum wage was increased I think it's possible that at first businesses would have to lay workers off or increase prices, but once things reach a stable level I think it would settle back down. 

Have you seen prices in New York yet?

[Sniper Noob]

Have you seen prices in New York yet?

 

Yes

[Kevin the Chicken God]

Only plans to cut down to 35%,

or, you know, you could vote for someone who won't cut them at all?

[=TNW= Maximus™]

Yes

 

You obviously haven't.... Look at the price of living in NYC (remember that you need to pay about 40% in taxes) And if you owned a business, you'd have even less than that.

 

http://www.investopedia.com/articles/personal-finance/012315/how-expensive-new-york-city-really.asp

[Sniper Noob]

You obviously haven't.... Look at the price of living in NYC (remember that you need to pay about 40% in taxes) And if you owned a business, you'd have even less than that.

 

http://www.investopedia.com/articles/personal-finance/012315/how-expensive-new-york-city-really.asp

 

It's expensive to live in any city, not just NYC. Yes the taxes are higher, but the demand to live there, the tourism, the location, and everything else all play into it. 

[Gren]

Have you seen prices in New York yet?

 

 

Yes

 

 

It's expensive to live in any city, not just NYC. Yes the taxes are higher, but the demand to live there, the tourism, the location, and everything else all play into it. 

 

What sniper noob said.  High prices in urban centres don't have anything to do with minimum wage (can people making minimum wage even live in NY, Vancouver or Toronto?  I can only speak for Canadian cities, but it would be next to impossible to live on min. wage).   It has to do with the attractiveness of the city, how much people want to live there, and what the city has to offer.  Obviously, NY is a world-class city and scores high in all of those indexes, which is why it's expensive af to live there.  

[ϟRai-Raiϟ]

What sniper noob said.  High prices in urban centres don't have anything to do with minimum wage (can people making minimum wage even live in NY, Vancouver or Toronto?  I can only speak for Canadian cities, but it would be next to impossible to live on min. wage).   It has to do with the attractiveness of the city, how much people want to live there, and what the city has to offer.  Obviously, NY is a world-class city and scores high in all of those indexes, which is why it's expensive af to live there.  

If prices of everything in cities is higher, so is their pay. New York approved a $15/hr minimum fast food wage, set for 2018.

What I hate is the fact that despite people wanting higher wages, if that happened all businesses would have to do is make things more expensive. This basically circlejerks the problem and keeps the poor, poor. When you're poor, you can't afford college, and when you can't afford college, you can't get higher paying jobs. Thus, you are forced into the lower paying jobs, busting your ass in factories since they pay higher than most entry level jobs. You bust your ass, while corporate officials make sometimes more than triple your income and get to sit down.  It's an unfair and greedy loop.

[Sniper Noob]

If prices of everything in cities is higher, so is their pay. New York approved a $15/hr minimum fast food wage, set for 2018.

What I hate is the fact that despite people wanting higher wages, if that happened all businesses would have to do is make things more expensive. This basically circlejerks the problem and keeps the poor, poor. When you're poor, you can't afford college, and when you can't afford college, you can't get higher paying jobs. Thus, you are forced into the lower paying jobs, busting your ass in factories since they pay higher than most entry level jobs. You bust your ass, while corporate officials make sometimes more than triple your income and get to sit down.  It's an unfair and greedy loop.

 

The NYC argument is a bit of a red herring though really. The average cost of a two-bedroom apartment in NYC is about $2000/month, and that's just for housing. It doesn't matter what the minimum wage is, you're not going to be able to easily live there on a minimum wage. The point of raising the minimum wage isn't so people can suddenly afford to live in the most expensive city in the world, it's for the whole country. In places where the cost of living isn't so ridiculously high (literally everywhere else) raising the minimum wage would mean getting a more reasonable living wage.

[Supervise]

The NYC argument is a bit of a red herring though really. The average cost of a two-bedroom apartment in NYC is about $2000/month, and that's just for housing. It doesn't matter what the minimum wage is, you're not going to be able to easily live there on a minimum wage. The point of raising the minimum wage isn't so people can suddenly afford to live in the most expensive city in the world, it's for the whole country. In places where the cost of living isn't so ridiculously high (literally everywhere else) raising the minimum wage would mean getting a more reasonable living wage.

While most of what you said is true, you may want to remove that "literally".

 

Here is the top 10 most expensive cities based off of the cost of living in New York, New York

[Sniper Noob]

While most of what you said is true, you may want to remove that "literally".

 

Here is the top 10 most expensive cities based off of the cost of living in New York, New York

 

But none of those cities are in the US, I don't understand why that's at all relevant... 

 

And of course the "literally" is an exaggeration, but that's also irrelevant. 

[Supervise]

But none of those cities are in the US, I don't understand why that's at all relevant... 

 

And of course the "literally" is an exaggeration, but that's also irrelevant. 

I'm just (literally) a Nazi when it comes to the word literally.

[Charity]

The NYC argument is a bit of a red herring though really. The average cost of a two-bedroom apartment in NYC is about $2000/month, and that's just for housing. It doesn't matter what the minimum wage is, you're not going to be able to easily live there on a minimum wage. The point of raising the minimum wage isn't so people can suddenly afford to live in the most expensive city in the world, it's for the whole country. In places where the cost of living isn't so ridiculously high (literally everywhere else) raising the minimum wage would mean getting a more reasonable living wage.

 

But you're overlooking the part where there's no escape. EVERYTHING is more expensive. 

 

Food will be more expensive, groceries will be more expensive, housing will be more expensive, businesses will have to cut down on staffing, etc. etc. 

 

This would literally accomplish nothing. People just think they'll magically get more money because the president says so. 

[Gren]

But you're overlooking the part where there's no escape. EVERYTHING is more expensive. 

 

Food will be more expensive, groceries will be more expensive, housing will be more expensive, businesses will have to cut down on staffing, etc. etc. 

 

This would literally accomplish nothing. People just think they'll magically get more money because the president says so. 

 

That's what they want you to believe.  "Sorry guys, but we really can't pay you more.  Hey, would you rather not work at all?  Yeah, thought so.  Now get back to work.  Hold on while I inform our share holders of our profits this quarter, they will be very pleased." 

 

Here's the reality:  Almost everywhere in the Western world (and particularly in the US) goods and services have increased at a much higher rate than wages and salaries.  What that means is that a $50,000 salary in 1980 (adjusted for inflation ofc) gave you more purchasing power as $50,000 in 2016.  You'd assume then that all these companies are just barely scraping by and have no other choice but to increase their prices in order to just keep the doors open.  But that's not the case.  Not even close actually.  Corporate profits are at an all-time high.   

 

Maybe I sound like a left-wing nut.  But you're getting f****ed, royally f****ed and that's the sad reality.  You're being led to believe (I say you, because it's a bit better here in Canada, albeit not much) that you making more money (it's not just about minimum wage; it's also about the fact that the middle class earns much less than it used.  In fact, the only people making more are the 1% and that's not some leftist statement, that's cold hard fact.) will result in business failing.  It won't though.   There is more than enough money to go around, but greed tends to pile it all up in place.  

[Charity]

That's what they want you to believe.  "Sorry guys, but we really can't pay you more.  Hey, would you rather not work at all?  Yeah, thought so.  Now get back to work.  Hold on while I inform our share holders of our profits this quarter, they will be very pleased." 

 

Here's the reality:  Almost everywhere in the Western world (and particularly in the US) goods and services have increased at a much higher rate than wages and salaries.  What that means is that a $50,000 salary in 1980 (adjusted for inflation ofc) gave you more purchasing power as $50,000 in 2016.  You'd assume then that all these companies are just barely scraping by and have no other choice but to increase their prices in order to just keep the doors open.  But that's not the case.  Not even close actually.  Corporate profits are at an all-time high.   

 

Maybe I sound like a left-wing nut.  But you're getting f****ed, royally f****ed and that's the sad reality.  You're being led to believe (I say you, because it's a bit better here in Canada, albeit not much) that you making more money (it's not just about minimum wage; it's also about the fact that the middle class earns much less than it used.  In fact, the only people making more are the 1% and that's not some leftist statement, that's cold hard fact.) will result in business failing.  It won't though.   There is more than enough money to go around, but greed tends to pile it all up in place.  

 

But what you're leaving out are small businesses. This would be a slaughter fest for smaller businesses. Not to mention these companies are striving to profit, therefore almost nothing would change. Just because companies are making more doesn't mean they're going to pay more. Not always, at least. 

[Hyperqube]

This would be a slaughter fest for smaller businesses.

 

courtasy of the U.S. department of labor...

 

Myth: Raising the minimum wage will only benefit teens.

 

Not true: The typical minimum wage worker is not a high school student earning weekend pocket money. In fact, 89 percent of those who would benefit from a federal minimum wage increase to $12 per hour are age 20 or older, and 56 percent are women.

 

Myth: Increasing the minimum wage will cause people to lose their jobs.

 

Not true: In a letter to President Obama and congressional leaders urging a minimum wage increase, more than 600 economists, including 7 Nobel Prize winners wrote, "In recent years there have been important developments in the academic literature on the effect of increases in the minimum wage on employment, with the weight of evidence now showing that increases in the minimum wage have had little or no negative effect on the employment of minimum-wage workers, even during times of weakness in the labor market. Research suggests that a minimum-wage increase could have a small stimulative effect on the economy as low-wage workers spend their additional earnings, raising demand and job growth, and providing some help on the jobs front."

 

Myth: Small business owners can't afford to pay their workers more, and therefore don't support an increase in the minimum wage.

 

Not true: A July 2015 survey found that 3 out of 5 small business owners with employees support a gradual increase in the minimum wage to $12. The survey reports that small business owners say an increase "would immediately put more money in the pocket of low-wage workers who will then spend the money on things like housing, food, and gas. This boost in demand for goods and services will help stimulate the economy and help create opportunities."

 

Myth: Raising the federal tipped minimum wage ($2.13 per hour since 1991) would hurt restaurants.

 

Not true: In California, employers are required to pay servers the full minimum wage of $9 per hour before tips. Even with a 2014 increase in the minimum wage, the National Restaurant Association projects California restaurant sales will outpace all but only a handful of states in 2015.

 

Myth: Raising the federal tipped minimum wage ($2.13 per hour since 1991) would lead to restaurant job losses.

 

Not true: As of May 2015, employers in San Francisco must pay tipped workers the full minimum wage of $12.25 per hour before tips. Yet, the San Francisco leisure and hospitality industry, which includes full-service restaurants, has experienced positive job growth this year, including following the most recent minimum wage increase.

 

Myth: Raising the federal minimum wage won't benefit workers in states where the hourly minimum rate is already higher than the federal minimum.

 

Not true: While 29 states and the District of Columbia currently have a minimum wage higher than the federal minimum, increasing the federal minimum wage will boost the earnings for nearly 38 million low-wage workers nationwide. That includes workers in those states already earning above the current federal minimum. Raising the federal minimum wage is an important part of strengthening the economy. A raise for minimum wage earners will put more money in more families' pockets, which will be spent on goods and services, stimulating economic growth locally and nationally.

 

Myth: Younger workers don't have to be paid the minimum wage.

 

Not true: While there are some exceptions, employers are generally required to pay at least the federal minimum wage. Exceptions allowed include a minimum wage of $4.25 per hour for young workers under the age of 20, but only during their first 90 consecutive calendar days of employment with an employer, and as long as their work does not displace other workers. After 90 consecutive days of employment or the employee reaches 20 years of age, whichever comes first, the employee must receive the current federal minimum wage or the state minimum wage, whichever is higher. There are programs requiring federal certification that allow for payment of less than the full federal minimum wage, but those programs are not limited to the employment of young workers.

 

Myth: Restaurant servers don't need to be paid the minimum wage since they receive tips.

 

Not true: An employer can pay a tipped employee as little as $2.13 per hour in direct wages, but only if that amount plus tips equal at least the federal minimum wage and the worker retains all tips and customarily and regularly receives more than $30 a month in tips. Often, an employee's tips combined with the employer's direct wages of at least $2.13 an hour do not equal the federal minimum hourly wage. When that occurs, the employer must make up the difference. Some states have minimum wage laws specific to tipped employees. When an employee is subject to both the federal and state wage laws, he or she is entitled to the provisions of each law which provides the greater benefits.

 

Myth: Increasing the minimum wage is bad for businesses.

 

Not true: Academic research has shown that higher wages sharply reduce employee turnover which can reduce employment and training costs.

 

Myth: Increasing the minimum wage is bad for the economy.

 

Not true: Since 1938, the federal minimum wage has been increased 22 times. For more than 75 years, real GDP per capita has steadily increased, even when the minimum wage has been raised.

 

Myth: The federal minimum wage goes up automatically as prices increase.

 

Not true: While some states have enacted rules in recent years triggering automatic increases in their minimum wages to help them keep up with inflation, the federal minimum wage does not operate in the same manner. An increase in the federal minimum wage requires approval by Congress and the president. However, in his call to gradually increase the current federal minimum, President Obama has also called for it to adjust automatically with inflation. Eliminating the requirement of formal congressional action would likely reduce the amount of time between increases, and better help low-income families keep up with rising prices.

 

Myth: The federal minimum wage is higher today than it was when President Reagan took office.

 

Not true: While the federal minimum wage was only $3.35 per hour in 1981 and is currently $7.25 per hour in real dollars, when adjusted for inflation, the current federal minimum wage would need to be more than $8 per hour to equal its buying power of the early 1980s and more nearly $11 per hour to equal its buying power of the late 1960s. That's why President Obama is urging Congress to increase the federal minimum wage and give low-wage workers a much-needed boost.

 

Myth: Increasing the minimum wage lacks public support.

 

Not true: Raising the federal minimum wage is an issue with broad popular support. Polls conducted since February 2013 when President Obama first called on Congress to increase the minimum wage have consistently shown that an overwhelming majority of Americans support an increase.

 

Myth: Increasing the minimum wage will result in job losses for newly hired and unskilled workers in what some call a last-one-hired-equals-first-one-fired scenario.

 

Not true: Minimum wage increases have little to no negative effect on employment as shown in independent studies from economists across the country. Academic research also has shown that higher wages sharply reduce employee turnover which can reduce employment and training costs.

 

Myth: The minimum wage stays the same if Congress doesn't change it.

 

Not true: Congress sets the minimum wage, but it doesn't keep pace with inflation. Because the cost of living is always rising, the value of a new minimum wage begins to fall from the moment it is set.

But what you're leaving out are small businesses. ... Not to mention these companies are striving to profit

it's only logical that "a small business that's striving to profit" will hold off of hiring employees as long as possible, having as much profit as possible with as little people as possible to pay. Companies under that modal wouldn't go under if the minimum wage increased, as, dumbed down, they got lots of cash incomming, and not many mouths to feed.

[Captain Caboose]

I'm waiting to see how they plan to fix the economy and our action overseas, I can't see anyone with a partically good plan other than Rubio.