Mike says:

#31

Lol… you might want to know what you are talking about before throwing out numbers, because it only makes you look stupid.

The total population of the United States has no relation to anything we are talking about. You are talking about people who are working and earning the minimum wage. You can’t then throw in people who aren’t even in the labor pool to support your ridiculous assertions. Do you want to count 5 year olds now too? How about the 90 year old grandmother who hasn’t worked in 20 years? The point is, you are an idiot. A salary is compensation for regular work or services performed, so no, people who do not work are not earning a salary of $0; there is no such thing, and just because you made it up doesn’t make it so.

Secondly, the 75,000,000 people is the total number of hourly wage workers listed in the 2005 minimum wage table I posted the link to. Did you even look at it? That leaves the remainder of the employed population as salaried or other non-hourly wage employees.

Posting your link to August 2006 employment numbers has no relevance to the 2005 numbers I was using (and clearly noted).

And one more thing to note: if you bother to look at the table I linked to, you will notice that a large majority of the workers are listed in the column of earning less-than the minimum wage. This means they are probably tip workers who are more than likely netting more than $5.15 an hour anyway.

ECA says:

“And one more thing to note: if you bother to look at the table I linked to, you will notice that a large majority of the workers are listed in the column of earning less-than the minimum wage. This means they are probably tip workers who are more than likely netting more than $5.15 an hour anyway.”

Very true, but its still only a tip..
If you reaise the min wage, Alot of persons will get more money, but the cost of the goods they are selling goes UP with them. the corps WONT loose any money when they can raise the cost of the goods.
If they raise the cost of goods, do you Think a min wage earner is going to be any better off.
cost of 1 employee is High enough now…You need to figure that a person at $5.15 per hour costs the company almost $10 per hour IF they get benefits. and the person Is paying almost 1/2 with his taxes and coverages.
Price of groceries, price of gas, price of building materials, price of clothing, price of 7/11 price of everything will go up. Its not worth it.
It would be better to place a cap on wages. LEt the corps fight for those Low income dollars, by DROPPING there prices.

ECA says:

Circular logic…
If they dont make enough give them MORE money.
Give them more money, then product prices go up.
Product prices go up, you need more money..

It dont WORK.
corps are making about 10-100 times profit.
How do you stop them raiseing prices? Dont give money to those on the bottom, and they cant purchase what is Over priced. Corps will need to drop prices to Get those low income persons to BUY anything. And that number is VERY large. that IS the 90 year old lady, that IS the disabled, that is the Min wage and up to $9 an hour person.
If you raise the wages, those on SSI and poor STILL wont be able to buy it..
As when those prices go up, the Corp still has to pay wages, and those add to the bottom line. that can of Tomatoe soup, will go up because all the workers BELOW the NEW min wage…say it goes up from 5.15 to 6.15 per hour… that means All those getting $6 per hour also go up, all those getting $5.50 go up, all those Anywhere in the middle Go up…And so the Corps dont have to worry about being a Min wage Job, they Add $0.10 to the wage.
NOW they are NOT listed as a min wage job, and are NOT counted as such.

Dont you love questionires?
Wonder WHY they never go below $15,000 annual income?? thats only $7.50 an hour…COULD you live on that?? I do, on less.
And a raise in the hourly min wont be added to the cost of living increase to Anyone on Social security.

How about another track:
Lets say you have a BIG fish aquarium.
It costs you $10 a month to maintain it and feed your fish.
say the wages in the shop went up, because No one is fire and the owner gave everyone a raise. but the owner WANTS to keep his earning the same.
so he raise the prices.
NOW it costs you $12 a month to maintain your fish.
NOw the owner wants to go on vacation, and wishes to pay for it with the shops money, so he raises the prices again.
You are now paying $14 amonth on your fish.
NOw there is an accident in the shop and the shop keeper needs to pay off THAT bill and KEEP his own earnings…
And it now costs you $16 amonth…
Then he finds a better accountant, that could save him money, but he costs MORE money, and the OWNER still wants to keep his earnings the same.
You are now paying $18 amonth…

If you really want to know…THAT is how corps are working NOW. Nothing comes out of the OWNERS pocket….PERIOD…

Aaron says:

The Truthyness on this blog hurts!

To say that raising the minimum wage will increase prices of goods is like saying all black people like watermelon and chicken…It’s stupid and ignorant. Somehow this has become the mantra of the petty bourgeoisie (which is what you are if you have ever had to get out of bed to get a paycheck). Sure it CAN lead to increased prices, but it CAN also lead to Efficiencies. Maybe you don’t need those extra large fries.

You have to remember the mantra of the “free” market, or are you admitting that monopolies have replaced all businesses, and one cannot find price differences? (See arbitrage)

Why are you people picking on the defenseless (i.e. underclass). You want to limit the amount someone living in squalor can earn, yet have no problem with the CEO’s, of the same company, making more than some third world countries! This is a sick situation; especially coming from the party that waves Jesus in the face of its opponents. Have you even read the bible or is charity too inconvenient for the “Christian Right”? Stop thinking of yourself for five minutes!

syngensmyth says:

Economics is amoral not immoral. Saying the minimum wage drives prices up is not a moral judgement. It is simply a fact, or force of economics. There will always be a need for all wages at all levels. A free economy must have people flipping burgers and running corporations. (even true in un-free economies) You fatties out there need to eat Big Macs. Mikey D needs to make a certain profit level. Minimum wage increases push up all wages near their level. When these wages go up, Big Macs go up, and so it goes.

Minimum wage is a political trick used by those trying to make you believe they want to HELP you, knowing full well these increases have only the shortest term effect or benefit. These increases are quickly absorbed by the economic system.

Ever notice how minimum wage is most important on election cycles. This is not a principal of economics but politics. Apparently “chicken in every pot” got old.