As per usual GOP downs minimum wage bill

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Fugu

As per usual GOP downs minimum wage bill

Post by Fugu » Thu Jun 22, 2006 2:50 am

Figures

http://seattletimes.nwsource.com/html/n ... age22.html

They have no concern for the lower income groups in this country.

Kevin R
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Post by Kevin R » Thu Jun 22, 2006 3:30 am

You overlook an important point, increasing the minimum wage doesn't really help the poor (though I know it makes liberals feel good).
"Free trade, one of the greatest blessings which a government can confer on a people, is in almost every country unpopular."

-Thomas Macaulay

Fugu

Post by Fugu » Thu Jun 22, 2006 11:53 am

You overlook everything. The gap between the uber-rich and the uber-poor have increased since your boy Georgie got into office. It's disgraceful, but I'd expect that from the arrogant right-wing. You'd rather just sit there and say "tsk, tsk" as you pass the working poor and spend your discretionary income (clue for you Kevin--they don't have any) on the pile of cds you bought this week.

Fugu

Post by Fugu » Thu Jun 22, 2006 12:46 pm


Wallingford
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Post by Wallingford » Thu Jun 22, 2006 3:06 pm

Just remember: we pay these doofuses six-figure salaries every year!
If I could tell my mom and dad
That the things we never had
Never mattered we were always ok
Getting ready for Christmas day
--Paul Simon

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Post by Corlyss_D » Thu Jun 22, 2006 3:59 pm

The Republicans should quit fighting this fight. 70%+ of the American public support the minimum wage. It's only a transitional wage anyway. It isn't worth the cost in terms of the political hits they take for opposing it.

Of course, everyone knows that Dan's economics are spot on in that the minimum wage will most certainly close the gap between the permanent underclass and Warren Buffett. :roll:
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Post by BWV 1080 » Thu Jun 22, 2006 4:47 pm

These right-wing nuts are the only thing standing in the way of legislated universal prosperity. Lets go all the way and mandate a $100,000 annual minimum wage with free healthcare and maternity leave and 4 weeks paid vacation.

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Post by Werner » Thu Jun 22, 2006 5:04 pm

Nice sarcasm, Steve. I've got to go with Corlyss on this one - what do you say to that, Corlyss?

There really are more realistic solutions, given the will and the mindset - and I DON'T mean a descent into socialism, either.

Someday - when our politics return to some level of sanity.........
Werner Isler

Kevin R
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Post by Kevin R » Thu Jun 22, 2006 5:19 pm

Fugu wrote:You overlook everything. The gap between the uber-rich and the uber-poor have increased since your boy Georgie got into office. It's disgraceful, but I'd expect that from the arrogant right-wing. You'd rather just sit there and say "tsk, tsk" as you pass the working poor and spend your discretionary income (clue for you Kevin--they don't have any) on the pile of cds you bought this week.
What is wrong with inequality? Ludwig von Mises pointed out years ago that it is an "essential" characteristic of a market economy. We can even say that it is a good thing (you seem to believe that inequality is inequity, when it is not).

Of course, the poor are not as bad off as the liberal press would like you to believe (why is it that liberals fixate on income instead of consumption?).

To quote Nobel economist Prof. Gary Becker:

"Should not an increase in earnings inequality due primarily to higher rates of return on education and other skills be considered a favorable rather than unfavorable development? Higher rates of return on capital are a sign of greater productivity in the economy, and that inference is fully applicable to human capital as well as to physical capital. The initial impact of higher returns to human capital is wider inequality in earnings (just as the initial effect of higher returns on physical capital is widen income inequality), but that impact becomes more muted and may be reversed over time as young men and women invest more in their human capital.

I conclude that the forces raising earnings inequality in the United States is on the whole beneficial because they were reflected higher returns to investments in education and other human capital."

As to the silliness of the minimum wage.

From an old CBO study,

"Four-fifths of all minimum wage workers are not poor." And economist Linda Gorman states: "Unfortunately, neither laudable intentions nor widespread support can alter one simple fact: although minimum wage laws can set wages, they cannot guarantee jobs. In reality, minimum wage laws place additional obstacles in the path of the most unskilled workers who are struggling to reach the lowest rungs of the economic ladder. According to a 1978 article in American Economic Review, the American Economic Association's main journal, fully 90 percent of the economists surveyed agreed that the minimum wage increases unemployment among low-skilled workers. It also reduces the on-the-job training offered by employers and shrinks the number of positions offering fringe benefits. To those who lose their jobs, their training opportunities, or their fringe benefits as a result of the minimum wage, the law is simply one more example of good intentions producing hellish results."

I know passing laws altering the market makes liberals feel good, but you really need to think about what the real impact of these laws will be.
"Free trade, one of the greatest blessings which a government can confer on a people, is in almost every country unpopular."

-Thomas Macaulay

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Post by Corlyss_D » Thu Jun 22, 2006 6:23 pm

Kevin R wrote:
Fugu wrote:You overlook everything. The gap between the uber-rich and the uber-poor have increased since your boy Georgie got into office. It's disgraceful, but I'd expect that from the arrogant right-wing. You'd rather just sit there and say "tsk, tsk" as you pass the working poor and spend your discretionary income (clue for you Kevin--they don't have any) on the pile of cds you bought this week.
What is wrong with inequality?
It's liberal cant that inequality is the chief evil in society. They have been hell-bent on institutionalizing policies designed to deliver equality of outcome for 35 years now because, well, equality of opportunity just leaves too much to chance and individual talent, don't you know. And if individual talent and industry were found to be the root of much success, well, that would reflect poorly on people who weren't successful. And we can't have any of that!
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Post by BWV 1080 » Thu Jun 22, 2006 7:25 pm

The whole minimum wage is a joke. As long as it continues to be set around the average going rate for unskilled labor it will not have any effect on the economy. Sure some poor people in depressed regions of the country like Appalachia will be hurt by the reduction in available employment and a few teenagers will get a raise at McDonalds, but in the end it allows everyone to feel good about themselves, and of course that is all that matters.
Last edited by BWV 1080 on Thu Jun 22, 2006 7:43 pm, edited 1 time in total.

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Post by Corlyss_D » Thu Jun 22, 2006 7:40 pm

BWV 1080 wrote:in the end it allows everyone to feel good about themselves, and of course that is all that matters.
:lol: :lol: :lol: :lol:
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Post by RebLem » Thu Jun 22, 2006 8:09 pm

BWV 1080 wrote:These right-wing nuts are the only thing standing in the way of legislated universal prosperity. Lets go all the way and mandate a $100,000 annual minimum wage with free healthcare and maternity leave and 4 weeks paid vacation.
The hunner thou sounds a bit much, but the rest is a pretty good idea.
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