Why the minimum wage does not reduce jobs.

The Dude said:
I looked up the inflation adjusted min wage rate and it's close to today's. No need to raise it
But you redneck opposition is hillarious
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The Dude, I question how you looked it up?
Refer to: http://www.bls.gov/data/inflation_calculator.htm

In 1968 the federal minimum wage, (FMW) rate was increased to $1.60/Hr.
$1.60 in 1968 equals the purchasing power of $10.94 in 2015
The value of the FMW rate decreased by (10.94 – 7.257) / 7.25 = 50.89%
That’s almost a 51% loss of purchasing power.

Respectfully, Supposn
 
Robo said:
You bet! I "DO"

Actually, unlike you I'm interested in advocating to SAVE the entry level jobs for the poor and youth of America, while you are only interested in the leftist scam to buy their votes and keep them enslaved to BIG government.
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Robo, referring to the post 11:43 PM November 21, 2015 with regard to a passed and enacted law permitting the hiring of youths at the sub -minimum rate of $4.25/Hour for entry jobs.
Thus far this modification of federal minimum wage, (FMW) law has not been of any perceivable economic affect but I can foresee in the future how it may by undermining our federal minimum wage rate be of detriment to our economy.

Respectfully, Supposn
 
Not 1968
I may have used the original
I'm in the camp of a small raise ain't hurting anything
Except conservatards feelings
 
Supposn said:
Robo, referring to the post 11:43 PM November 21, 2015 with regard to a passed and enacted law permitting the hiring of youths at the sub -minimum rate of $4.25/Hour for entry jobs.
Thus far this modification of federal minimum wage, (FMW) law has not been of any perceivable economic affect but I can foresee in the future how it may by undermining our federal minimum wage rate be of detriment to our economy.

Respectfully, Supposn
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Any honest evaluation of our Constitution concludes that a FMW is unconstitutional. If you believe in BIG socialist central government and indeed if you're a socialist, then of course constitutionality and the founder's intent to create a "Several State Laboratory" to establish freedom and institutional excellence, is of no interest or value to you.

Case closed!
 
Robo said:
Too bad you can't articulate and debate the "funny shit," genius? Too bad you aren't aware that you're living in slavery, genius?:rofl2::cof1:
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You love the system white trash gramps
I don't even spend all of my dividend checks
Only dumb people are old and not rich
 
Celticguy said:
The jobs lost to min wage are not new jobs not created, they are existing and employed and become truly lost. The op is an incorrect assessnent.
Payrolls do not increase in total so there is no increase in spending.
The only point in raising min wage is to get an automatic union wage increase for those union contracts indexed to min.
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Celtic Guy, minimum rate’s purchasing power reduction increases incidence numbers and extents of poverty.

The extent of the federal minimum wage, (FMW) rate's benefits to the rates of USA wages and salaries are dependent upon the purchasing power of the FMW rate; its benefit to individual job rates’ are inversely proportional to the differences between the job’s and the FMW’s rate.

To the extent that the federal minimum wage, (FMW) rate’s purchasing power is reduced, USA would have (more than otherwise) increased numbers of jobs but their median wage would be somewhat reduced.
[The qualification, “than otherwise” also accounts for any factors other than the FMW rate that also affect USA’s job numbers and the median wage.
Elimination of the FMW rate would be the ultimate reduction of FMW rate].

Due to reductions of the FMW rate’s purchasing power the numbers of USA’s jobs do increase but almost the entire increase are jobs for the working poor and their purchasing powers are the most sensitive to the FMW rate’s purchasing power. The working poor are defined by their job rates’ insufficient purchasing power.

A minor proportion of USA’s full-time working poor are dependents of wealthier people; all of the other full-time working poor are generally in need of income subsidies. Due to restraints upon all levels of USA governments’ budgets, only a small proportion of the working poor can now qualify to receive public assistance. The needs exceed what we’re now willing to fund.
Reduction of the FMW rates purchasing power increases the numbers and extents of poverty in the USA at a time when our government budgets are less able to fund the additional needs for public assistance.

Respectfully, Supposn
 
Legion Troll said:
Is the government supposed to regulate the economy so low-skilled people can keep their jobs?
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Legion Troll, it is not the federal minimum wage, (FMW) rate’s purpose to “regulate the economy so low-skilled people can keep their jobs” and it does not do so.

The FMW rate’s the absolute minimum rate applicable to almost all USA wages and salaries but there’s no maximum limit. Due to wage differentials, all other wage rates (other than the exact amount of the FMW rate are determined by the labor market.
The FMW rates purpose is to reduce USA’s numbers of poverty incidences and their extents which in turn drag upon our economy.
The FMW rate’s ability to accomplish its purpose is dependent upon the purchasing power of that rate.

Respectfully, Supposn
 
Supposn said:
Legion Troll, it is not the federal minimum wage, (FMW) rate’s purpose to “regulate the economy so low-skilled people can keep their jobs” and it does not do so.

The FMW rate’s the absolute minimum rate applicable to almost all USA wages and salaries but there’s no maximum limit. Due to wage differentials, all other wage rates (other than the exact amount of the FMW rate are determined by the labor market.
The FMW rates purpose is to reduce USA’s numbers of poverty incidences and their extents which in turn drag upon our economy.
The FMW rate’s ability to accomplish its purpose is dependent upon the purchasing power of that rate.

Respectfully, Supposn
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US poverty rate has remained essentially unchanged after years a years and trillions of government transfer payments
 
I Love America said:
US poverty rate has remained essentially unchanged after years a years and trillions of government transfer payments
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I Love America, every increase of the federal minimum wage, (FMW) rate has been (more than otherwise) to our nation’s net econoomic benefit; (more than otherwise refers to had the rate not been increased at that time).

The FMW rate’s purchasing power (as relative to a cost-price index number) peaked in 1968. That’s good reason to suppose our economy would have more improved more if over the years we had continued to increase the rate’s purchasing power.

The FMW rate has often been permitted to lose purchasing power but it has never been a sufficient rate. The FMW rate has never been among the primary causes if the U.S. dollar’s purchase powers loss; it is always been the victim of inflation.

Respectfully, Supposn
 
Supposn said:
I Love America, every increase of the federal minimum wage, (FMW) rate has been (more than otherwise) to our nation’s net econoomic benefit; (more than otherwise refers to had the rate not been increased at that time).

The FMW rate’s purchasing power (as relative to a cost-price index number) peaked in 1968. That’s good reason to suppose our economy would have more improved more if over the years we had continued to increase the rate’s purchasing power.

The FMW rate has often been permitted to lose purchasing power but it has never been a sufficient rate. The FMW rate has never been among the primary causes if the U.S. dollar’s purchase powers loss; it is always been the victim of inflation.

Respectfully, Supposn
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Again that isn't the title of your OP. You are conflating two issues. It is 100% fact that raising minimum wage costs certain people jobs. Whether it leads to other jobs is irrelevant to me because the net effect is that it puts the government in the position of picking winners and losers and I oppose that on all levels and all industries.
 
Supposn said:
Why the minimum wage does not reduce jobs.

Job creations were generally not due to altruistic motives; enterprises speculated that there would be a favorable cost-benefit to justify those jobs. After each of the federal minimum wage, (FMW) rate increases, employers continued to perceive favorable cost-benefits for almost all of their jobs.

Some eliminated jobs were replaced by automation. Automation, (i.e. increasing production at lesser per/unit cost) has always been to our economic benefit.
The numbers of jobs made extinct due to computers were replaced by jobs in a completely new industry. Previously we did not attempt to digest and process huge volumes of data that people are now handling; those are additional jobs.

Each increase of the FMW rate to some extent induced increased the purchasing powers for ALL USA wages and salaries thus to some extent our economy was consequently better than otherwise; (otherwise being if the FMW rate had not been increased).
Due to our more (than otherwise) improved better than otherwise economy, USA’s economy had supported more (than otherwise) numbers jobs with wage rates that are more than otherwise. [Otherwise being if the purchasing power of the FMW rate is reduced or if it’s eliminated.]

That’s why libertarians predicted increases of unemployment due to each proposed FMW rate increase did not meet their expectations; those enacted increases have always been to our net economic benefit.

Refer to the thread http://www.justplainpolitics.com/sh...ences-of-eliminating-the-federal-minimum-wage
Respectfully, Supposn
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Another massive pile of unintelligent bile; you're quite full of it aren't you?

It's pbvious you've never started a business, managed a payroll or made a dime on your own. Keep your government job.
 
Supposn said:
Eliminating the federal minimum wage rate to reduce youths' high rate of unemployment would
to some extent reduce the purchasing power of all wages and salary earners and increase poverty among their families.
Thus far I suspect this enabling of sub-minimum rates for youths will to some extent undermine all wages and it will particularly reduce median wage rates for youths but I doubt if has or will significantly decreased unemployment rates of youths.

Respectfully, Supposn
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