Because, earning power by and large, is not a concern for the <18. It is for the >18. Also, cramming a $12 hour minimum wage down the throats of congress aint gonna happen. A tiered approach has an element of compromise.
This is some hard hitting stuff right here. Who would have guessed that low wage positions would be concentrated in industries where people making low wages make up a substantial share of the workforce? You can't find this type of in-depth analysis just anywhere.
lol thinkprogress
if you'd pay attention, "compromise" is a filthily unacceptable concept to Repugs.
try again
Yes, boutons. So much easier to give up and just .
You guys advocating raising minimum wage obviously don't understand economics and have never heard of cost push inflation, or the price/wage spiral. Raising minimum wage only leads to inflation and "real wages" stay the same. Think about it, the labor going into each product rises so the price of goods rises.
Sshh. Let's not wake up anyone from their dream that the cure to poverty is a $15/hr minimum wage.
Somehow, corps managed to pay their execs 450 times their wage slaves, and no cost push inflation.
The base problem is income inequality.
Here are some number from an article about the Middle-class Decline:
In addition to the slow growth in overall size of the pie, the share that has been going to anyone but the richest Americans has been declining. The top-earning 1 percent of households now bring home about 20 percent of total income, up from less than 10 percent 40 years ago. The top-earning 1/10,000th of households — each earning at least $7.8 million a year, many of them working in finance — bring home almost 5 percent of income, up from 1 percent 40 years ago.
Raising the minimum wage obviously isn't a be-all, end-all solution, and I agree that if you only do that, then you're not solving anything and basically adding to cost push inflation.
But if you want to re-tilt income inequality, then that should be part of a package of measures.
Yeah, inflation skyrocketed after the federal minimum wage was established.
Well, three years later for entirely different reasons, but whatever.
The minimum wage thing has always been nothing more than a political move. I remember back in 2008 or whenever they did the last one and raised it from 6.00 to 7.25. I was working some ty part time job for minimum wage fresh out of high school and going to college full time and I was happy at first to get a raise up to 7.50. it was great for about 6 months, and then prices finally caught up with me and i was back where i started. my purchasing power was essentially the same. so yeah if you want to help people out for a few months and cause massive inflation, raise that sucker to 12.00!
Yet, we seem to do just fine when subjected to the same cost push when material prices increase.
It's not a stand alone solution as El Nono pointed out.
Maybe that's because, as obscene as they are, execs salaries are a very small component of the entire salary costs of a corp.
a job, i just wish i had startup capital to be trading with. for this stock market experiment for a finance class, i just made 5k off a 200k investment in only 2 days. where else can you get a 2.5% return in 1 year, much less 2 days! previously made 2k off a 24k investment as well. i'm going to exploit the system while you all about unemployment sons!
i just need a little capital to get started
is that sarcasm or what i can't really decipher what you're saying
I thought you were going to start a foreskin repair company or something.a job, i just wish i had startup capital to be trading with. for this stock market experiment for a finance class, i just made 5k off a 200k investment in only 2 days. where else can you get a 2.5% return in 1 year, much less 2 days! previously made 2k off a 24k investment as well. i'm going to exploit the system while you all about unemployment sons!
i just need a little capital to get started
Get in line, tbh...i just need a little capital to get started
Nope. Wages are not the only factor for cost push.
Yet, the marketplace can price in and normalize alot of the cost pressure from material costs.
no. someone beat me to the idea and it's a nonprofit organization, and their goal is eventual free restoration, so it's fine with me. still thinking of a business model imho.
a business model involving the cir cision thing?
or do you have something else in mind?
totally different scenario. at the time, most people were already making more than the newly established minimum wage so it didn't affect many. today, millions upon millions of workers make 7.25ish. if you raised it today, it would affect like a huge portion of the work force.
no, someone beat me to the punch on the cir cision thing. I don't mind though, i'm glad to see it getting attention. going to come up with another business model but probably won't need one for the forseeable future. I have a very loose connection to a couple guys on forbes top 100, although one that could prove to be very lucrative. i think im going to be set here in a couple weeks upon graduation thanks to a family member.
i might just end up working and investing my excess cash in the stock market, i'm beating the out of the s&p 500 the past couple of months day trading.
Aren't most people already making more than the minimum wage now?
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