Dr Kynes
Well-Known Member
yes, when the left are losing their arguments, then it's time to start the pissing contest.
once the thread is closed, they can simply start 5 new threads using the same assumptions they used in this one.
Minimum wage in mathematical terms
- Thread starter Padawanbater2
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once the thread is closed, they can simply start 5 new threads using the same assumptions they used in this one.
UncleBuck
Well-Known Member
no, it's TLDR because you are so filled with bullshit that it is coming out your eyeballs.
it is not necessary to baffle with bullshit when you can dazzle with brilliance. unfortunately, you subscribe to the former.
UncleBuck
Well-Known Member
hey red, if someone is inclined to an action, do they have a propensity for that action?
tomahawk2406
Well-Known Member
All Kynes does is just fucking babble. On and on and on......... his posts are incredibly insufferable.
You work for a wage. The living is what you create with that wage.
Dr Kynes
Well-Known Member
so from this non-responsive vague reply we must assume you subscribe to the following:
wages and prices are NOT subject to market forces.
vast numbers of illegal aliens willing to work under the table for FAR LESS than an american can survive on does NOT drive wages lower across the board
tariffs would NOT spur domestic production of goods if importing those same products from foreign lands became more expensive than local production
free-trade is a good idea, because you can get cheaply made tube socks from china, rather than paying an extra buck or two for socks made in the US by an american.
those americans who would be making socks for you would NOT now have jobs, pay taxes and buy your weed.
as much as everyone* enjoys** your snarky jabs and vague insinuations, you really dont have a fucking clue.
*see4 and cheezus
**they are exactly as ignorant as yourself.
UncleBuck
Well-Known Member
more attempts at baffling with bullshit.
the premise of your entire argument against raising minimum wage is that prices will soar, cheapening the meager wage that you earn.
this is demonstrably false, as proven by empirical evidence.
2006-2009: min wage goes up 40%, big mac goes up with inflation.
see how i didn't have to guide anyone through any convoluted TLDR nonsense?
Pinworm
Well-Known Member
Here: You can have this $290. This is what a minimum wage employee will most likely earn this week. Go get everything you, and your child will need to "survive".... Now... I'd love to see a scenario where you/the employee is not struggling to decide what bills to pay, heat or electricity, what food to eliminate from the shopping list, if going to a doctor is even worth it, by the end of that month. I'd also love to see a scenario where you can actually "live" on this amount, and not just "scrape by"...You have no idea what you are talking about.
UncleBuck
Well-Known Member
haven't you heard? the right wing already solved the min wage problem.
step 1: have all min wage employees magically bootstrap themselves up to engineers and whatnot.
step 2: have high school kids take over all min wage jobs
step 3: ???
step 4: PROFIT!
they seriously solved the problem already. thank those people.
Pinworm
Well-Known Member
Wow. There's even a step by step. I suppose as long as the "RIGHT" people profit, it's ok.
Padawanbater2
Well-Known Member
That's the main point I'm having trouble understanding. Minimum wage goes up, so all the prices go up, too? Why?
So does that mean if we lower the minimum wage, prices will fall?
Can someone please explain this for me in the simplest terms possible?
Dr Kynes
Well-Known Member
because you engage in specious nonsense.
one product does not an economy make.
1988: cal;if min wage $4.25 Big Mac: $2.39 min wage /Big Mac = 1.78
2012: calif min wage $8 Big Mac: $4.20 min wage / Big Mac = 1.90
ZOMG!! you gotta work longer at minimum wage to buy that same big mac??? ohh noes!!
the same product in 1988 cost on average 1/3 to 1/4 the price of the same item today.
the minimum wage has nearly doubled
the money supply in 1988 (M2) ~$30 Trillion
the money supply in 2012 (M2) ~$100 Trillion wow thats roughly 3x more... could there be a correlation??
http://www.tradingeconomics.com/united-states/money-supply-m2
yeah, your TLDR version: "Republicans did it!!"
But, but , butbecause you engage in specious nonsense.
one product does not an economy make.
1988: cal;if min wage $4.25 Big Mac: $2.39 min wage /Big Mac = 1.78
2012: calif min wage $8 Big Mac: $4.20 min wage / Big Mac = 1.90
ZOMG!! you gotta work longer at minimum wage to buy that same big mac??? ohh noes!!
the same product in 1988 cost on average 1/3 to 1/4 the price of the same item today.
the minimum wage has nearly doubled
the money supply in 1988 (M2) ~$30 Trillion
the money supply in 2012 (M2) ~$100 Trillion wow thats roughly 3x more... could there be a correlation??
http://www.tradingeconomics.com/united-states/money-supply-m2
yeah, your TLDR version: "Republicans did it!!"
"the big mac index shows that big macs had no inflation once you adjust for all the inflation they had."
Dr Kynes
Well-Known Member
no. prices rarely go down unless competition drives prices lower.
if you own the only gas station in a 500 mile radius, you can charge whatever you want, until people start going for alternatives like making their own Methyl alcohol, or switching to propane or some other alternative (your only competition)
if another gas station opens up across the street and charges 1/2 what you charge, you will either lower your prices to compete, or go out of business.
if you simply cannot cut your price in half and still maintain a profit, then you close, and the new guy is the only gas staion in 500 miles, and HE can charge whatever he wants.
if your costs go up, whether for the gasoline from your supplier, or your property taxes on the land, or regulatory costs (double walled underground tanks, regular soil testing, whatever), or the cost of labour for your gas station attendants, you MUST charge more for your gas, or narrow your profit margin, and lowering your profit margin is the last choice you would make.
it's the same way Wal Mart forces out their competition.
they come to town, and get a sweetheart deal (usually no city fees or taxes for 5-12 years) and then they sell for less, so much less that the competition (who faces these costs wal-mart is dodging) go under, then wal-mart can charge whatever they like.
their competitors cannot beat wal-mart's low low prices (since wal mart already has the edge by dodging local taxes and fees) so they cannot remain profitable.
UncleBuck
Well-Known Member
http://blog.cwpub.com/post/5179859473/big-mac-inflation
http://www.infoplease.com/ipa/A0774473.html
1988 min wage: $3.35
2011 min wage: $7.25
216% upness.
1988 big mac: $2.39
2011 big mac: $3.80
159% upness.
in 1988, one hour of labor at minimum wage would buy you 1.4 big macs.
in 2011, one hour of labor at minimum wage would buy you 1.9 big macs.
i will be demanding some pancakes before we proceed any further.
UncleBuck
Well-Known Member
if minimum wage goes up, prices don't really follow. empirical examples i have presented prove this. the righties can not find one iota, one scrap, one meager thing to wave around to prove the opposite. they only have theory which does not pan out in real life. empty rhetoric on par with trickle down voodoo.*
in min wage goes down, prices don't follow either as the company will just pocket the extra rather than pass it on (in theory). however, min wage hasn't gone down and isn't going down, so no need to even worry.
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