Raising Minimum Wage . . .

[Forever Sunshine]

Supporters of raising the federal minimum wage to $10.10 an hour say it will increase productivity, lower turnover and increase wages for 28 million workers.

Critics contend that a higher minimum will hurt jobs and consumers.

A new analysis from the nonpartisan Congressional Budget Office indicates that both sides have a point.

The key takeaways from the CBO report: Gradually raising the federal minimum wage to $10.10 from $7.25 would boost the incomes of most low-wage workers and lift 900,000 out of poverty. But it could also result in the loss of 500,000 jobs.

Is 500,000 workers a lot? On the one hand that's half a million people who will be hurt by a loss of income. But on a more macro level, the CBO said it represents only a 0.3% decrease in employment.

Why could there be job loss? A mix of reasons. A higher minimum wage raises payroll costs for an employer. That employer may handle those higher costs in any of several ways: cut jobs, reduce worker hours, curb summer hiring, opt not to replace workers who leave; book lower profits; or raise prices on customers.

READ MORE! WHAT SAY YOU, CRAPSTERS?

[pilgrim47]

I've always believed that you get what you pay for and if you pay a little extra you usually get a better product, or employee.

A good quality employee will in most cases produce a higher quality product and help pay the wages. Turnover and training cost will drop considerably.

[mtman]

It will be a job killer.....While you get what you pay for with products is true, I don't think it pertains to employees.....People don't pro rate their work based on wages.....A good employee will do the same quality of work no matter if he is paid $8.00 or $12.00 dollars per hour.....And a poor employee ill do the same inferior work, no matter what you pay them.....Don't need to pay them more, just weed out the slackers.

[beags]

I believe the minimum wage should be raised. Nobody can make it on the minimum wage. Every state is different. I believe the minimum wage here just was raised to a whopping 7.45 an hour. Considering many of the full time jobs here are minimum wage, that's just not enough.

You can't tell me that the Walmarts, and other huge department stores cannot afford to pay their employees more. The only thing raising the minimum wage hurts is your mom and pop business. The larger companies can afford it. So the CEO will make less. The CEO will still have his private jet, yacht on the ocean, and mansion on a lake. His granchildren will have all that as well. Hell they are probably waiting for him to die. His great-great grandchildren may have to work for a living. Aw, poor babies, I don't feel sorry for them.

While they are raising the minimum wage, they can take a look at those who live off of tips (waiters, waitresses, and such) AND those who work in sales off of commission. Those employers been getting away with paying less than the minimum wage for too long. It's time they pay their employees a decent wage as well. Some people live well off of sales, and tips. Others live in areas where you don't make much off of sales and tips.

I have a decent paying job that pays way above minimum wage, as does my hubby. So I am not saying any of this so it will benefit me. It is just time to raise it, nationally, so people can make a decent living. Children do love to spend time with their parents. They do need to eat and all that stuff. State aid only covers the poor. Believe it or not, even though a family making minimum wage in this state is at poverty level, they still make too much to go on state aid. You see they aren't enough below poverty level to get the help. They are struggling. For many, they would be better off to quit their jobs and get state aid. BUT they are also trying to teach their children a lesson . . . . you get paid by working. They do have their pride. I will have to give them that. It is much better than teaching your children to quit and live off of other people's money.

So for those, I say the minimum wage needs to be raised. $9 an hour is not asking too much, IMO.

[pilgrim47]

A living wage will create competition... And competition will help weed out the slackers.

Find some good in the fact that in most cases employment pays more than minimum wage.

[mtman]

Feb 20, 2014 11:54:05 GMT -5 pilgrim47 said:

A living wage will create competition

Yep.....A 500,000 person race to the unemployment office.

[mtman]

Feb 19, 2014 17:18:59 GMT -5 beags said:

You can't tell me that the Walmarts, and other huge department stores cannot afford to pay their employees more

Walmart and other corporations responsibility is to their shareholders, not their employees.....They purchase product and assets at the lowest cost possible to maximize returns to their shareholders.....Employees are simply an asset cost to them.....To be purchased at the lowest cost possible.

[Deleted]

Duh. If minimum wage goes up, prices will go up. The market sets the prices and will adjust accordingly no matter what the minimum wage is. But, it makes for Feel Good politics so politicians can pretend that they give a fruck.

[pilgrim47]

Feb 20, 2014 18:17:17 GMT -5 mtman said:

Feb 20, 2014 11:54:05 GMT -5 pilgrim47 said:

A living wage will create competition

Yep.....A 500,000 person race to the unemployment office.

Fewer Americans filed applications for unemployment benefits last week, a sign employers are holding the line on firings even as cold weather slowed industries from manufacturing to housing.



Jobless claims declined by 3,000 to 336,000 in the week ended Feb. 15, a Labor Department report showed today in Washington. The median forecast of 53 economists surveyed by Bloomberg called for a decrease to 335,000. No states were estimated and there was nothing unusual in the data, a Labor Department spokesman said as the figures were released.


www.bloomberg.com/news/2014-02-20/jobless-claims-in-u-s-decreased-last-week-as-firings-abated.html

[pilgrim47]

Wal-Mart Stores Inc. (WMT), the largest private employer in the U.S., said it’s looking at supporting an increase in the federal minimum wage, breaking with business and industry groups that oppose such a measure.

Wal-Mart is weighing the impact of additional payroll costs against possibly attracting more consumer dollars to its stores, David Tovar, a company spokesman, said today in a telephone interview. Increasing the minimum wage means that some of the 140 million people who shop at the chain weekly would “now have additional income,” Tovar said.

www.bloomberg.com/news/2014-02-19/wal-mart-says-looking-at-support-of-federal-minimum-wage-rise.html

[beags]

The minimum wage needs to be raised. Inflation has raised many times without the minimum wage going with it. People cannot survive on the current minimum wage.

Perhaps you people opposed to it, should try to live off it. I know you make more money, so to hell with those who don't, right? Well that's selfish thinking. $9 an hour is certainly NOT asking too much. You won't live well off of that either. Some states are already at a $10 per hour minimum wage. Our state is at 7.65 per hour minimum wage. Try to live off of that, you can't.

I do make more than that, $16 an hour to be exact, soon to be making more. So I'm not just saying it should be raised because I personally need it raised. It just needs to be done.

You're welcome to your scare tactics, stating unemployment, and all that. Seriously, $9 an hour is still a low wage. Then again, that's why it would be called the minimum wage.

[Rovo]

Feb 20, 2014 18:41:49 GMT -5 fuzzems said:

Duh. If minimum wage goes up, prices will go up. The market sets the prices and will adjust accordingly no matter what the minimum wage is. But, it makes for Feel Good politics so politicians can pretend that they give a fruck.

Exactly!

You can artificially increase the cost of labor, and not expect the price of a product to increase also.

[Bluerobin]

All my life, raising the minimum would be the end of the world. So far that hasn't happened. It is artificially low. This time, raise it and index it to inflation, so it keeps pace. BTW prices are still going up, along with CEO pay!