OT Unregulated capitalism killing the American Dream

[Hoopguru]

When growing up I had no problem at 15 earning min wage or picking berries. It was a motivator to pursue school to increase my earning capabilities.
I worked lower paying jobs while in school and newly married with kid. Im all for a decent minimum wage but people should look at it as a stepping stone for learning a trade or pursuing and industry that allows for advancement.

 

[Phatguysrule]

When growing up I had no problem at 15 earning min wage or picking berries. It was a motivator to pursue school to increase my earning capabilities.
I worked lower paying jobs while in school and newly married with kid. Im all for a decent minimum wage but people should look at it as a stepping stone for learning a trade or pursuing and industry that allows for advancement.

People's time has value. And $15 per hour is the absolute minimum that should be acceptable. An adult should make $20 per hour minimum.

There is no job worth doing that doesn't profit far more than $20 per hour. If you can't pay your employees a decent wage you are doing something wrong and need to go out of business.

 

[tlongII]

People's time has value. And $15 per hour is the absolute minimum that should be acceptable. An adult should make $20 per hour minimum.

There is no job worth doing that doesn't profit far more than $20 per hour. If you can't pay your employees a decent wage you are doing something wrong and need to go out of business.

Then don't take the job. All increasing the minimum wage does is increase inflation.

 

[Phatguysrule]

Then don't take the job. All increasing the minimum wage does is increase inflation.

Inflation increases less than the minimum wage increase. Which means it raises the lower class up. Which is the point.

I don't want people who don't think they have better options having to settle for that horrible wage. It makes the country a worse place for all of us.

 

[tlongII]

Inflation increases less than the minimum wage increase. Which means it raises the lower class up. Which is the point.

I don't want people who don't think they have better options having to settle for that horrible wage. It makes the country a worse place for all of us.

I would say your first statement is clearly false. https://www.cnbc.com/2021/11/10/inf...the-wage-gains-for-workers-and-then-some.html

I also don't agree with your 2nd statement when you consider we are now in a global economy more than ever before.

 

[Phatguysrule]

I would say your first statement is clearly false. https://www.cnbc.com/2021/11/10/inf...the-wage-gains-for-workers-and-then-some.html

I also don't agree with your 2nd statement when you consider we are now in a global economy more than ever before.

That link isn't about minimum wage. At all.

And over 60% of inflation has been profit taking, not driven by anything except greed and fear. As has been posted in here several times.

I don't see how a global economy is relevant to my 2nd point. Underpaid local workers are overly stressed, leading them to make poor choices which primarily negatively impact their local area.

More of that is worse for a given area.

 

[tlongII]

That link isn't about minimum wage. At all.

And over 60% of inflation has been profit taking, not driven by anything except greed and fear. As has been posted in here several times.

I don't see how a global economy is relevant to my 2nd point. Underpaid local workers are overly stressed, leading them to make poor choices which primarily negatively impact their local area.

More of that is worse for a given area.

You stated "Inflation increases less than the minimum wage increase. Which means it raises the lower class up. Which is the point." The link I provided shows that is false.

Regarding the 2nd point...a global economy means we face global competition. One of the key drivers in gaining a competitive advantage in a global economy is keeping costs as low as possible. That includes labor costs. Having corporations thrive in a global economy helps the domestic workers far more than having them struggle.

 

[Phatguysrule]

You stated "Inflation increases less than the minimum wage increase. Which means it raises the lower class up. Which is the point." The link I provided shows that is false.

No, that link doesn't show anything about minimum wage.

Regarding the 2nd point...a global economy means we face global competition. One of the key drivers in gaining a competitive advantage in a global economy is keeping costs as low as possible. That includes labor costs. Having corporations thrive in a global economy helps the domestic workers far more than having them struggle.

Nobody suggested having corporations struggle in a global economy.

And no, simply having a large thriving corporation doesn't mean great things for domestic workers or everybody would want to work for Amazon and Walmart.

 

[tlongII]

No, that link doesn't show anything about minimum wage.


Nobody suggested having corporations struggle in a global economy.

And no, simply having a large thriving corporation doesn't mean great things for domestic workers or everybody would want to work for Amazon and Walmart.

Actually you're right on the first point. It actually refers to wages in general rather than minimum wage.

I disagree on the 2nd point. Having a job at Amazon and Walmart is better than not having a job at all.

 

[Phatguysrule]

Actually you're right on the first point. It actually refers to wages in general rather than minimum wage.

I disagree on the 2nd point. Having a job at Amazon and Walmart is better than not having a job at all.

The comparison isn't between working for Amazon/Walmart or nothing at all though.

The comparison is between making minimum wage and $20/hr. Like say Denmark. Who has fairly low unemployment and a much lower gini coefficient, and thereby a happier and healthier population than the US.

 

[tlongII]

The comparison isn't between working for Amazon/Walmart or nothing at all though.

The comparison is between making minimum wage and $20/hr. Like say Denmark. Who has fairly low unemployment and a much lower gini coefficient, and thereby a happier and healthier population than the US.

There are many reasons why we can’t be like one of the Nordic countries.

 

[Hoopguru]

Inflation increases less than the minimum wage increase. Which means it raises the lower class up. Which is the point.

I don't want people who don't think they have better options having to settle for that horrible wage. It makes the country a worse place for all of us.

Most people can find better options at some point if they want to. I was taught to create a good work ethic start on the ground floor which meant min wage, use it as a spring board to advancing in work place and income. I agree $20 seems fair, but salaries/wages are a legit cost of doing business.

 

[Hoopguru]

There will always be entry level jobs for people and there are industries that pay better than others.
The person Ive used for some remodeling over the years immigrated here from Russia as early teen, worked minimum wage while learning contruction.
He’s owned his own business now for 5 years as does well at the same training a few other young.
I have two sons that started a material handlers for electrical & plumbing. Both got into apprenticeships and spend 5 years training/ school and now are journeyman. They have HS diplomas but were driven to do better on job at a time.

 

[Phatguysrule]

Most people can find better options at some point if they want to. I was taught to create a good work ethic start on the ground floor which meant min wage, use it as a spring board to advancing in work place and income. I agree $20 seems fair, but salaries/wages are a legit cost of doing business.

They are a cost of doing business, but legit businesses charge more than enough to pay $20 per hour.

Paying below $15 is just exploitation.

 

[Phatguysrule]

There will always be entry level jobs for people and there are industries that pay better than others.
The person Ive used for some remodeling over the years immigrated here from Russia as early teen, worked minimum wage while learning contruction.
He’s owned his own business now for 5 years as does well at the same training a few other young.
I have two sons that started a material handlers for electrical & plumbing. Both got into apprenticeships and spend 5 years training/ school and now are journeyman. They have HS diplomas but were driven to do better on job at a time.

Yeah, I can see the reasoning behind kids starting at $15 per hour. But not adults.

 

[Phatguysrule]

There are many reasons why we can’t be like one of the Nordic countries.

Lol. OK.

 

[SlyPokerDog]

Nearly one-third of American workers make less than $15 an hour, study finds

Tue March 22, 2022

https://www.cnn.com/2022/03/22/poli...MBvDIVMGRp9wAhMCXnIf3tVY60lrUjNc8CTKA2EKdXHGk

 

[Road Ratt]

Sanders Intros Revival of 95% Windfall Profits Tax From WWII to Curb Corporate Greed.

"We cannot allow big oil companies and other large, profitable corporations to continue to use the war in Ukraine, the Covid-19 pandemic, and the specter of inflation to make obscene profits by price gouging Americans."

https://www.commondreams.org/news/2...indfall-profits-tax-wwii-curb-corporate-greed

 

[Road Ratt]

Things boomers need to stop saying to millennials about money.

https://www.msn.com/en-us/money/per...als-about-money/ss-AAVjZhh?li=BBnbfcL#image=3

Something for the old farts on the board.

 

[Road Ratt]

The Housing Crisis - If You Don’t Know, Now You Know

 

[Road Ratt]

Here’s What It’s Like Having $100 Billion vs. $1 Billion.

 

[BLAZINGGIANTS]

Things boomers need to stop saying to millennials about money


https://www.msn.com/en-us/money/per...o-millennials-about-money/ss-AAVjZhh#image=19

 

[SlyPokerDog]

 

[Phatguysrule]

Not cool.

 

[andalusian]

Well, this needs to be approved by the state's budgetary committee, it is not a done deal. Supposedly this was done based on the creation of 10,000 union jobs. No idea if there are stipulations on what happens if this goal is not met.

 

[Road Ratt]

'Their Inflation Strategy Is Working': Corporate Profits Soared to Record High in 2021

"CEOs can't stop bragging on corporate earnings calls about jacking up prices on consumers to keep their profits soaring," said one expert.

https://www.commondreams.org/news/2...ing-corporate-profits-soared-record-high-2021

 

[SlyPokerDog]

 

[SlyPokerDog]

 

[tlongII]

Well that’s false.

 

[SlyPokerDog]

Well that’s false.

For a lot of people, it isn't.