who's left of Obama on the economy
- Thread starter Topspin
- Start date
FUCK THE POLICE
911 EVERY DAY
What was unemployment in the 50's Top, that liberal doomsday era no one wants to repeat?
did they teach math at Harvard. He wants to raise the minimum wage to $9.5 and pump up unions. He better increase the unemployment benefits cause more will be seeking them.
Actually, raising the minimum wage has been shown to add jobs to an economy. It’s theorized that this happens because the more disposable income a low-income worker has, they more they spend, which adds jobs.
Basic economics 101.
Class dismissed gerber.
Epicurus
Reasonable
Maybe if you were homeschooled by John Maynard Keynes it is.
FUCK THE POLICE
911 EVERY DAY
Inflation adjusted the minimum wage was higher than $9 in the 50's. Wealth adjusted the minimum wage was much higher still, so that minimum wage had a much greater "burden" on the economy than nine real dollars an hour would now. Taxes on the rich also reached 90%. The economy boomed.
Class dismissed.
Are you saying that there haven’t been studies showing that in places where the minimum wage was raised higher than the federal wage, jobs were added, not lost?
ib1yysguy
Junior Member
Washington state is a great example. In fact, people drive from Idaho (with a much lower minimum wage) to find jobs. Not to mention, they spend money while they're here and our economy is much stronger. And it got stronger after we raised the minimum wage a few years back.
Epicurus
Reasonable
http://www.house.gov/jec/cost-gov/regs/minimum/50years.htm
I'm only aware of 3. There are considerably more that prove the opposite, and the link above does a good job at dissecting the inadequacies of those three.
Epicurus
Reasonable
Summary of Research on the Minimum Wage
http://www.house.gov/jec/cost-gov/regs/minimum/50years.htm
The minimum wage reduces employment.
Currie and Fallick (1993), Gallasch (1975), Gardner (1981), Peterson (1957), Peterson and Stewart (1969).
The minimum wage reduces employment more among teenagers than adults.
Adie (1973); Brown, Gilroy and Kohen (1981a, 1981b); Fleisher (1981); Hammermesh (1982); Meyer and Wise (1981, 1983a); Minimum Wage Study Commission (1981); Neumark and Wascher (1992); Ragan (1977); Vandenbrink (1987); Welch (1974, 1978); Welch and Cunningham (1978).
The minimum wage helped South African whites at the expense of blacks.
Bauer (1959).
The minimum wage hurts blacks generally.
Behrman, Sickles and Taubman (1983); Linneman (1982).
The minimum wage does little to reduce poverty.
Bonilla (1992), Brown (1988), Johnson and Browning (1983), Kohen and Gilroy (1981), Parsons (1980), Smith and Vavrichek (1987).
http://www.house.gov/jec/cost-gov/regs/minimum/50years.htm
The minimum wage reduces employment.
Currie and Fallick (1993), Gallasch (1975), Gardner (1981), Peterson (1957), Peterson and Stewart (1969).
The minimum wage reduces employment more among teenagers than adults.
Adie (1973); Brown, Gilroy and Kohen (1981a, 1981b); Fleisher (1981); Hammermesh (1982); Meyer and Wise (1981, 1983a); Minimum Wage Study Commission (1981); Neumark and Wascher (1992); Ragan (1977); Vandenbrink (1987); Welch (1974, 1978); Welch and Cunningham (1978).
The minimum wage helped South African whites at the expense of blacks.
Bauer (1959).
The minimum wage hurts blacks generally.
Behrman, Sickles and Taubman (1983); Linneman (1982).
The minimum wage does little to reduce poverty.
Bonilla (1992), Brown (1988), Johnson and Browning (1983), Kohen and Gilroy (1981), Parsons (1980), Smith and Vavrichek (1987).
[T]his report examined recent state-by-state trends for small businesses employing fewer than 50 workers and found that employment and payrolls in small businesses grew faster in the states with minimum wages above the federal level than in the remaining states where the $5.15 an hour federal minimum wage prevailed.
This report also found that total job growth was faster in the higher minimum wage states. Faster job growth also occurred in the retail trade sector, the sector of the economy employing the most workers at low wages, in the higher minimum wage states.
http://www.fiscalpolicy.org/FPISmallBusinessMinWage.pdf
This report also found that total job growth was faster in the higher minimum wage states. Faster job growth also occurred in the retail trade sector, the sector of the economy employing the most workers at low wages, in the higher minimum wage states.
http://www.fiscalpolicy.org/FPISmallBusinessMinWage.pdf
It’s kind of common sense, though I am aware that libertarian “think tanks” fund studies to come up with the opposite conclusion.
But ask yourself this – a low income worker spends everything they earn. You raise their wages, they don’t save it, they spend it. This of course, spurs growth, which in turn, of course, creates jobs.
This ain’t rocket science kiddies.
Try the IBM motto - THINK
Well, I don’t know that it’s the miniority viewpoint, what I do know is that your viewpoint is very well-funded. And when you got money, you can find a whore to say whatever you want said.
Just ask Exxon-Mobile and their paid for global warming “studies” eh?
Anyway, I think it is clearly common sense. It kind of speaks for itself. Luckily, this is not an issue I have to sweat too much, let me tell you why.
80% of Americans are for raising the federal minimum wage – that’s why it got raised. So…
It’s one of the battles that we won. Nothing said here is going to change that.
did they teach math at Harvard. He wants to raise the minimum wage to $9.5 and pump up unions. He better increase the unemployment benefits cause more will be seeking them.
I have respect at least for this type of discussion and argument.
Much better than what the McCain campaign is pushing.