The minimum wage should be annually adjusted.


#1

The minimum wage rate should be annually adjusted by the cost-price index.

Opponents of the federal minimum wage, (FMW) believe the federal minimum wage rate is a primary or particular driver of the U.S. dollar’s inflation; that falsehood is one of their rationalizations to support their predisposition to oppose the FMW rate.

FMW rate updates are political determinations and have always been reactions to the U.S. dollar’s inflation over a duration of years. Usually each minimum rate increase did not fully reflect the total rate of the dollar’s inflation over the duration since the prior minimum rate update.

Enterprises’ price increases are a reaction to market forces that include but are not limited to additional costs reflecting any increase of the FMW rate. Enterprises usually, (if not always) react quicker than the U.S. Congress.

All price increases contribute to the U.S. dollar’s rate of inflation. But due to the afore mentioned reasons, FMW rate increases lag behind the dollar’s inflation and thus are less a cause and more (than price increases due to other causes), a victim of the dollar’s inflation.

Opponents pretend that minimum wage only affects the very poorest of the working poor. Except in the cases of jobs requiring labor that’s in short supply, all wage scales are related to each other; (i.e. the rising tide raises all boats). The minimum and all job rates are related but less so if there are labor shortages for particular jobs.

The relationship is inverse to the difference between the minimum and the jobs’ rates; (i.e. proportionally the minimum rate is of greater benefit to lesser earners and of lesser benefit to greater earners purchasing powers but all employees somewhat benefit from the minimum rate).
Thus the minimum rate significantly increases the earners’ purchasing powers for no less than the lowest quarter of USA’s entire full time employee population.

Opponents object to the minimum rate intervening between employee- employer negotiations. There’s no intervention; there’s the same legal minimum rate for all tasks but no maximum upon any pay scales.
Opponents believe that the absolute poorest of the working poor’s wages should, (similar to other goods and product services), be subject to the free competitive market.

There are fewer employers and more unskilled job applicants. There is rarely if ever a shortage of unskilled labor. Employers can delay or outsource some tasks until they can be performed at lesser cost.
It’s contended that the unskilled labor markets’ are less than flat equitable market; the FMW rate is justified and its elimination would be detrimental to our economy.
It’s further contended that to the extent our FMW rate does not keep pace with the U.S. dollar’s inflation, it is adverse to our economy.

The minimum rate should be annually updated in the same manner as we now update social security retirement s. Those benefits would remain subject to our three federal branches government but rather than politically determined time and extents of updates, non-partisan statisticians would annually apply explicitly drafted formulas to determine the updates.

The FMW in 1968 was $1.60/Hr. Applying the cost- price urban index to that, it was equivalent to $10.69 in 2013 dollars. The minim rate should be increased gradually but $9/Hr is a low ball rate. I advocate for five years a dollar be annually added to the minimum rate prior to the index being applied. After five years, only the index should be annually applied to the minimum rate.

Respectfully, Supposn


#2

One question, Supposn: Where did you learn this stuff?
Seriously; I’d like to know.


#3

The minimum wage raises the cost of tasks requiring minimal skills (beyond breathing, showing up, being clean, and following simple procedures). The result is a mix of: 1.) artificially high, government-caused, prices for many products and services; 2.) businesses will use machines and electronic equipment to get greater productivity from fewer people; 3.) businesses subject to the artificial government-set minimum wage that are subject to foreign competition have forced on them a choice between eeeeee-viiiiiiile off-shoring or being forced out of business; 4.) government-caused higher unemployment, due to 2.) and 3.); 5.) the purchasing power of all wages is reduced, due to 1.), with those paid the minimum wage impacted worst.

The minimum wage should be abolished, because it causes far greater harm than good.


#4

Heck, I’d be happy to hear where anyone came to the conclusion that:
"Opponents of the federal minimum wage, (FMW) believe the federal minimum wage rate is a primary or particular driver of the U.S. dollar’s inflation;".

Where do people come UP with this stuff?

I’ve never heard it. Has anyone here besides Supposn heard it?

Is this what they’re teaching in the halls of academia, or is he just making it up out of thin air on his own?


#5

#6

Pete S. in Ca, excerpted from post #1 of this thread:
… Opponents of the federal minimum wage, (FMW) believe the federal minimum wage rate is a primary or particular driver of the U.S. dollar’s inflation; that falsehood is one of their rationalizations to support their predisposition to oppose the FMW rate.

FMW rate updates are political determinations and have always been reactions to the U.S. dollar’s inflation over a duration of years. Usually each minimum rate increase did not fully reflect the total rate of the dollar’s inflation over the duration since the prior minimum rate update.

Enterprises’ price increases are a reaction to market forces that include but are not limited to additional costs reflecting any increase of the FMW rate. Enterprises usually, (if not always) react quicker than the U.S. Congress. All price increases contribute to the U.S. dollar’s rate of inflation. But due to the afore mentioned reasons, FMW rate increases lag behind the dollar’s inflation and thus are less a cause and more (than price increases due to other causes), a victim of the dollar’s inflation. …

… Opponents pretend that minimum wage only affects the very poorest of the working poor. Except in the cases of jobs requiring labor that’s in short supply, all wage scales are related to each other; (i.e. the rising tide raises all boats). The minimum and all job rates are related but less so if there are labor shortages for particular jobs.

The relationship is inverse to the difference between the minimum and the jobs’ rates; (i.e. proportionally the minimum rate is of greater benefit to lesser earners and of lesser benefit to greater earners purchasing powers but all employees somewhat benefit from the minimum rate).
Thus the minimum rate significantly increases the earners’ purchasing powers for no less than the lowest quarter of USA’s entire full time employee population. …

… Respectfully, Supposn


#7

Pete S. in Ca, concerning the relationships between the minimum wage rate, technology and productivity:
The median wage and all of employees’ earnings are promoted by the purchasing power of the minimum wage rate and thus promotes the value of labor. We agree that increased purchasing power Increases employee earnings promote technological progress.

I fully agree with right wing economists’ contentions of nation’s technological advancements being advantageous to their economies.

Respectfully, Supposn


#8

Pete S. in Ca, refer to:
http://www.republicanoperative.com/forums/f10/reduce-usas-trade-deficit-increase-our-gdp-median-wage-39459/

or
Import Certificates - Wikipedia, the free encyclopedia

Respectfully, Supposn


#9

Pete S. in Ca, Regarding your #4 & 5:
#2? The concept that a nation’s technological advancement is detrimental to their economy is a canard often put forward by those usually to the left of liberals. I’m a populist and do not accept that concept.

Pete I wouldn’t think a conservative would believe it. Do you actually accept that concept or are you so desperate to evoke anything that supports your arguments regardless of your actual opinion?

(#3) We may have an honest difference of opinion. You I suppose do not accept my contention that our global trade deficit is detrimental to our GDP, median wage, and jobs.

The minimum wage rate can only increase, (it can never decrease the purchasing power of any employees pay. Excerpted from post #1
and again within #6:
… Thus the minimum rate significantly increases the earners’ purchasing powers for no less than the lowest quarter of USA’s entire full time employee population. …

… Respectfully, Supposn


#10

2 cent, within post #3 of this thread, PeteS in Ca wrote”artificially high, government-caused, prices for many products and services”. That’s not the first time and I have no reason to believe that it will be the last time I’ll encounter similar expressions of that same opinion. I don’t hear such an opinion from left wingers or liberals or populists. I hear it expressed from people that believe themselves to be correctly concluding conservatives.

Respectfully, Supposn


#11

Crocodile tears are flowing again for low-income people. In his State of the Union address, President Obama proposed raising the minimum wage from $7.25 to $9 an hour. A debate is shaping up between those who support the proposal and those who favor keeping the wage where it is today.** But there are good grounds—for the sake of the poor—to repeal the minimum wage altogether.**

Economist Russ Roberts points to another bad consequence of the minimum wage:** It “encourages exploitation” of workers by creating a “reserve army of the unemployed,” since a legislated minimum creates a labor surplus.** Roberts writes,

Before the minimum wage, a cruel, selfish employer might have had to mentor his employees or train them or be nice to them despite his nature. Now he won’t have to. He can still get workers to work for him. Even more cruelly, the minimum wage encourages workers to exploit themselves. They work harder and put up with more abuse from the boss because the minimum wage reduces the alternatives that are available.

The Minimum Wage Harms the Most Vulnerable - Reason.com


#12

With population increasing and the need for jobs decreasing, or at least not keeping up with population, how do we help people who will not have a job simply because there are none available? A job is no longer a guarantee in our society. Businesses today rely more on technology to do more with less, and as a result the need for manual labor diminishes. What is the solution?


#13

Conservatives agree that price controls don’t work, so why would any conservative be in favor on price controls on labor?


#14

[quote=“Trekky0623, post:12, topic:39763”]
With population increasing and the need for jobs decreasing, or at least not keeping up with population, how do we help people who will not have a job simply because there are none available? A job is no longer a guarantee in our society. Businesses today rely more on technology to do more with less, and as a result the need for manual labor diminishes. What is the solution?
[/quote]Check out Sheldon Richman on the subject. The minimum wage disempowers workers, especially on the lower end of the pay scale.


#15

[quote=“Jebby, post:13, topic:39763”]
Conservatives agree that price controls don’t work, so why would any conservative be in favor on price controls on labor?
[/quote]Many conservatives support price controls on the right things, or they have historically; and I know a few who support them too. It’s so sad that they merely mouth their support for free markets and economic liberty. A lot of the conservatives at this site support price controls on labor. You’d think the left would wonder why and oppose this rightwing economic authoritarianism.


#16

You’re not a real conservative if you believe government should be in the business of setting prices. That’s a progressive stance and incompatible with the conservative position of small government and free markets.

The sad thing is, the majority of self-described “conservatives” are really just progressive authoritarians who want to use the force of government to get people to act in a “socially conservative” manner, just as liberal progressives want to use the force of government to get people to be “tolerant.”

Rick Santorum is an excellent excellent example of a progressive authoritarian who tries to use the threat of government violence to impose his views on others. That is not conservatism. A real social conservative understands that morality does not come from government and that family, Church, and community are where education and morality must come from in order to change (or preserve) society. When “conservatives” like Rick Santorum use government to try and legislate morality they place the state above family, Church, and community and at the same time cease to be fiscal conservatives.

It’s the same with those “conservatives” which support price controls such as the minimum wage. They believe that government should take over and force people to act in a certain way. By doing that they cease to be fiscal or social conservatives as they value the state over private society (family, Church, community).


#17

Opponents of the Federal Minimum Wage (or any other minimum wage) oppose it “primarily” because it destroys opportunity for the poor and those newly entering the workforce while artificially diminishing the power of genuine market forces to regulate prices within the supply and demand paradigm.

You established a false premise or “straw man” and then attacked it with propaganda, as usual.


#18

[quote=“RET423, post:17, topic:39763”]
Opponents of the Federal Minimum Wage (or any other minimum wage) oppose it “primarily” because it destroys opportunity for the poor and those newly entering the workforce while artificially diminishing the power of genuine market forces to regulate prices within the supply and demand paradigm.

You established a false premise or “straw man” and then attacked it with propaganda, as usual.
[/quote]“Social justice” will only exist where humans are free.


#19

Please, you support every job and industry killing scheme the Left dreams up and then post a fatalistic comment like this as if there is some mystery as to why the job environment in America is stagnant?

Jobs were never a “guarantee” in America, the Left trying to make a job a “guarantee” is what removed accountability from the workforce and drove jobs overseas (Unions) and the non unionized industries that were still left were attacked with pointless, junk science Enviro-Nazi regulations until they left too.

No Liberal can say with a straight face that they want to “help people” who need employment, you guys declared war on the private sector decades ago and have yet to shed a single tear for the countless innocent lives you have destroyed in the process.


#20

The minimum wage rate does not limit the MAXIMUM extent of compensation that an employer may pay; it does enable legal enforcement of a MINIMUM rate. The federal minimum wage, (FMW) rate is not price control.

To the extent that the FMW rate should not be enforced or it’s purchasing power is permitted to lag behind that of the U.S. dollar, the purchasing power of the median wage and all employee other compensation are somewhat decreased.
Many employers are opposed to the minimum rate for the same reason that they oppose effectively controlling our national borders; both are a source of cheaper labor.
Such employers are comfortable with illegal immigrants as a source of cheaper more docile labor with effectively less rights and more dependency upon their employers’ good graces. They consider such cheap labor as a financial benefit for their enterprises and themselves.
Additionally cheaper labor provides many with comparatively greater social status over an increased underclass within our population.

We all are capable of rationalizing what we believe to be in our own best interests is equally to our nation’s best interests.

Respectfully, Supposn