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Oh, you say, I don't back that claim up? Neither did you. |
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Companies typically don't have a soul, and certainly never a conscience. And unlike you and I, companies are, laws aside, only under one single obligation: to maximize profits and revenues. You and I? We have the obligation to feed our families and to lead a life we can be proud of and tell our grandchildren about. Completely different. Quote:
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Veteran Member
Join Date: May 2004
Location: Minnesota
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Curious about what percentage of the workforce makes minimum wage, I found this: Characteristics of Minimum Wage Workers: 2005 from the Department of Labor's Bureau of Labor Statistics. Just throwing it out there for anybody interested in some numbers.
"Virtually bursting with adequatulence." |
Stallion
Join Date: Feb 2006
Location: Milwaukee
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Where to begin.. This is an excellent topic of debate!!!
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Your thought process is short sighted. What exactly does it change for those making minimum wage? The people getting minimum wage are the ones shopping at walmart to begin with. Walmart has razor thin margins, and when prices go up on labor, prices on product goes up. It doesn't help the poor and it sticks it to the middle and upper classes. Economics 101. Quote:
Then they should take out loans and get a college education. Don't give me that crap that there aren't enough jobs. Do you honestly think the beggers on the streets have no opportunity? Go to a public library! Books are free to check out. They also have free bathrooms with soap to get cleaned up. Take out a loan, buy some acceptable clothes from walmart, and go and get a job. These people are begging because they are too lazy too take any action to fix their problem. They're waiting for the government to fix it for them. Quote:
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Excuses for the lazy. Lets put it this way, the people that are making the big bucks didn't get their by accident. They worked harder than everyone else and earned that position. A strong work ethic is the most important thing one can have in life. Quote:
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Stallion
Join Date: Feb 2006
Location: Milwaukee
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Thunderbolt, fuck yeah!
Join Date: Jan 2005
Location: Denmark
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..... Now about you argument that the prices would match the rise in minimum wages fooboy: Imagine a basket of goods from you small "mom and pop" store where they actually have a couple of minimum wagers working. Not all the value represented in that basket is made up from domestic minimum wages, there are also raw materials, fixed costs (rent etc.), gas for transporting the goods to the store and not to mention imported goods e.g.. from China. If the minimum wage goes up only a part of the value in that basket is going to become more expensive, the rest will not be affected. However, the guy who just got his minimum wage raised, will have all that increase to spend (except taxed and if he has debt and such to pay off), therefore the raise in minimum wages will not be matched by rising prises due to rising costs. This means that what you fear is not even theoretically possible. That the prices in the real world are rising is not due to the spending power of the minimum wagers, but all the other guys making a lot more then the minimum wages. The cost of their salary is also represented in the basket, including that CEO with the 200 m$ severance. The rising gas price and other cost-factors also have a lot of influence on the basket here. Which means that Moogs is absolutely right when he states that the minimum wage is playing catch-up with the rising prices, and not the other way around. Interesting topic btw. |
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Veteran Member
Join Date: May 2004
Location: Clayton, NC
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I enjoyed reading this thread. I don't really have anything interesting to add but I will say that there are some very intelligent people in this forum (on both sides of this argument - yes!).
Anyway, slightly off-topic... The only thing I just had to comment on is this: A lot of people believe this is true, but it turns out it's not. Wal-Mart's marketing has been absolutely stellar in this regard. Customers believe that Wal-Mart sells at a lower price (cutting it's margins to razor thin) and they make up the difference in volume. Actually, they make the manufacturers eat the difference to get the lower prices, just for the privilege of selling in a Wal-Mart store. And the biggest surprise for most people, with respect to Wal-Mart's prices: you know those really cheap Chinese products they sell? Well, it turns out that those products aren't just really cheap, they're super-duper-uber cheap. Like that amazingly cheap, made in China toolkit that you just bought for only $15, probably only cost Wal-Mart like $2. Wal-Mart's margins on those cheap, Chinese products are huge. I'm not trying to argue for or against min wage, though. Ugh. |
Senior Member
Join Date: Feb 2005
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http://www.bls.gov/cps/minwage2005tbls.htm#table1.f.1 Last edited by Fooboy : 2007-01-11 at 08:40. |
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Less than Stellar Member
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I have nothing to add but to say: Republicans are out of power. Democrats get to set the agenda and pass the bills. We'll see in the real world how giving everyone something close to a living wage affects inflation. No more theories or wild guesses.
If it's not red and showing substantial musculature, you're wearing it wrong. |
Selfish Heathen
Join Date: May 2004
Location: Zone of Pain
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Because charts don't lie, always present the complete picture, and can not be used to skew information.
The intellectual capacity for this thread has been breached. I can only suggest that certain folks take a rudimentary course or two (an actual one, not "I read the Wikipedia!") in economics and one in the sociology of the lower class so you can understand how people live (or struggle to) off of minimum wage. The quality of this board depends on the quality of the posts. The only way to guarantee thoughtful, informative discussion is to write thoughtful, informative posts. AppleNova is not a real-time chat forum. You have time to compose messages and edit them before and after posting. |
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