/biz/ - Business & Finance

How about, "No you can't increase the minimum wage, I don't want inflation to turn this place into a South American shithole"

>>14937053
>minimum wage will make everyone poor

>>14937053
>increasing the minimum wage increases inflation
More like fights against it.

>>14937053
>replying sincerely

This isnt reddit, nobody here is actually dumb enough think raising minimum wage is a good thing

>>14937053
How about, "No I like working 3 jobs and barely being able to afford rent, health insurance, and other required services in current year. I really enjoy being in permanent debt and LOVE! THIS AMAZING ECONOMY(TM)."

>>14937083
this, not increasing the min wage makes wages go down by 2.5% per year, and your yearly 2% raise from Mr shekelstein means you're actually making less money than before.

>>14937092
>you're dumb if you want standard living conditions for the working class

>>14937141
>DUH WERKING CWASSSS
People like me will always rule over animals like you. There is nothing. You. Can. Do. About. It. Deal with it, FAGGOT

I live in Massajewsetts, in case you Eurofags and pajeets are unfamiliar, it's one of the most cucked states in America. Minimum wage is rising each year until 2022 when it will be $15 an hour. The repercussions of this are already taking place with the rising cost of living, food, etc. Whoever thinks this shit is going to help the economy and/or poorfags is a supreme brainlet. OP is probably bait anyway.

>>14936977
Fuck the rich, unless I become the rich.

>>14937197
Deposit ETH in my account or you are Full of shit.
So yeah, eat shit poorfag.

>>14937141
Implying this doesnt just price out the new working class and low skilled. Fuck off I ain't giving you an economics lesson right now on why its objectively bad to set price floors and ceilings

>>14937212
>blames rising minimum wage for inflation
Why don’t you just read up on current US monetary policy you absolute cretin. QE and unadjusted wages is the reason why your shithole is getting expensive. Reported for being stupid.

>>14936977
Tfw useless libshits don't realize the minimum wage is exclusively meant for teenagers and ex-cons and think they're supposed to be able to live in a global city on it.

>>14936977
$15 minimum wage is half of what I make as an engineer. I will quit my job and go work at a movie theater if it passes. I know my shitty employer wont raise my pay to compensate. May as well get a fun job with actual perks.

>>14937227
alternatively, give the rich everything, just in case I become rich, even though they don't need more

Not a single post about da jooz at the federal reserve printing billions of dollars per year? This place is full of NPCs.

>be poor trailer trash with no skills except hunting squirrels
>people like my squirrel meat and i make some money so i try to turn it into a business
>one employee on minimum wage would cost more than the business makes
Thanks for making being poor illegal.

>>14937263
price floors are important because they help to prevent powerful groups taking advantage of disadvantaged individuals, the free market favors the people with the money, regulation is important to inject the human aspect into something strictly functional

>>14937363
>have shit business
>blame the government because you can't afford to hire on a shit business model
poetry

>>14937363
>my shit business needs to rely on paying people a wage they can't live off in order to survive

Maybe your business shouldn't exist then

>>14936977
Checked. I know you're being ironic. Nobody on here is this dumb.

>>14937053
This. Raising minimum wage will force automation but before that will totally negate it's perceived benefit as the cost of goods will have to increase to cover wagies higher paycheck. Why do you think Sergey is exit scamming right now? He's prepping for higher rates on the Big Mac. Always 10 steps ahead that goy...

>>14937053
somehow that only applies to minimum wage, doesnt apply to military spending, tax cuts for the rich etc.
god amerifats are fucking retarded....

>>14937398
It worked until he tried to make it legit. I live in a country with minimum wage and the poor just do everything off the records. In effect the minimum wage, fees and taxation make all poor people criminals.
>>14937435
>maybe you and the people around you shouldn't eat
>you're too poor to be allowed to eat
The example is of a local economy building in the trailer park which is what always happens in reality. An employee paid a small wage can at least afford to buy the squirrel meat. Laws like minimum wage make sure these economic systems poor people create are always illegal.

>>14937101
MUH CAPITALISM.

>>14937101
You dont work 3 jobs
Stop larping

>>14937528
>be paid a non-living wage which I can then give back to my employer in exchange for his product, where he is already making a profit off of my labor, and I am then supporting his margins putting the profits from my own work in my own employers pockets
literally wage slavery.

WHY THE FUCK DID IT NOT WORK THE LAST 5 TIMES WE RAISED IT?

>>14936977
Someone doesn't understand economics

>>14937621
it did, but money keeps devaluing thanks to inflation, so the min wage should keep increasing at the same rate to incentivize providing your labor to the market

>>14937435
>>14937398

Fuck off commies

>>14937645
then why not stop devaluing the money instead?

>>14937661
because if you stop devaluing your money, people just hoard their money instead of investing in things. ideally, the inflation rate matches the actual value being provided and the population increasing and such so there's enough money to go around. doesn't seem to be working like that, though.

>>14937661
That prevents the problem from existing in the first place, which would put the geniuses that work in the government out of a job. Can't have that.

>>14937363
>not just hiring and replacing unpaid interns

not one here knows what inflation is, and how it is influenced.
protip: the wikpidia explonation for inflation is complete bullshit

>>14937716
so basically we're pushing useless consumption to arbitrarily inflate GDP numbers at a huge costs to the natural environment and societal fabric as a whole?

based

Why isn't the minimum wage a fixed ratio to the cost of living to adjust with the rate of inflation if we're just gonna be printing money forever and dont give a fuck about having sound money.

>>14936977
Since minimum wage increases only hurt the rich, minimum wage should be $1,000 an hour.

only the mentally stunted are ever in favor of any sort of government regulation or intervention in the free market, because having an authority setting rules makes them feel safe, like their parents did when they were children

>>14937318
Sounds kind of gross and annoying working at movie theater. But maybe it’s not.

Might as well just wait till they give free housing, food, healthcare, and entertainment money. Then just don’t work at all.

>>14937579
Literally feeding people so they don't die.

>>14937786
>everyone is wrong
>no other input
absolutely based and unironically red pilled

>>14937092

>>14937847
Feeding people that can’t feed themselves

We should abolish the minimum wage and see what happens.

>>14936977
Kill yourself, from the bottom of my heart.

>>14937847
feeding someone costs a pittance and is not fair compensation for hours of labor. With this argument taken to its logical extremes, actual slavery is okay if you are, at the very least, feeding them.

>>14937907
the capitalists will just get away with paying everyone $4 an hour and the inflation will continue via QE.

>>14937946
You're an idiot.
>be good at catching squirrels
>sell squirrel meat
>pay someone who needs money to sell squirrel meat
FASCIST PIG! U R SLAVERY!!!11!

>>14937850
if you actually know you don't want to share the truth because it is so powerful.

>>14937053
This. Good luck with your 12 dollar value meals you fat cunts.

>>14937053
Inflation comes from printing money, not wage increases, which is just wealth redistribution. Read a book

>>14937083
You’re an idiot. Costs go up to absorb the cost of employing Jamal the nose picking drug dealer in your burger joint at 15 bucks an hour.

Fuck millennials.

>>14937053
>he thinks its the policies and not that people that make a shithole a shithole.

>>14937212
MA rising cost of living has been happening far before any minimum wage increases. Lol at blaming everything bad on a minimum wage increase.

>>14938069
He said with no evidence or studies to back it up. But hey racism means you are based + red pilled so I guess that's good enough

>>14938069
What is Quantitative Easing, brain let.....

>>14938102
There hasn’t been a shred of evidence offered from either side in this thread, when in Rome...

While increasing the minimum wage isn’t the ONLY factor, it is short sighted, and will contribute to inflation the MOST out of said factors. I don’t understand how people fail to see the basic cause and effect there.

T. Also a Massachusetts faggot that manages a wage cage (I’m really more like a lead prisoner)

>>14937716
>people just hoard their money instead of investing in things

This is complete horseshit, endlessly repeated, but neither backed up by evidence nor valid argumentation.

A) There is a floor to one's living standards. It can vary, but there is always a floor

B) At some savings rate, the appreciation factor of money will be less relative to gains from investment.

C) People are saving all this money for what? Oh right, to fucking buy stuff.

>>14937083
Have you not fucking seen Venezuela over the past 2 years?

>>14938170
>say inflation when it doesn't actually apply
>say Venezuela when called out for it
Look mom im arguing on teh internet

>>14938168
if the value of money is stagnant, the demand for it with increasing populations and productivity will make it more valuable because there isn't enough money to go around, causing it to deflate. if money is deflating, you have no incentive to buy today what you can buy tomorrow at a lower price, if you can afford to wait. hence, deflationary currencies stagnate the economy.

>>14937946
We don't live in extremes retard. Get an actual fucking job you dumb commie fuck and stop being a parasite and you'd learn this.

>kids on biz are legit communists

Please tell me it's all a larp

>>14938227
>low iq
>can't fend for himself
>needs other people to pay for his tendies

Whatever neet life you live will eventually come to an end, and when you're 40yrs old and have nothing and look back on your life you'll realize the grave mistake you have made.

>>14938245
>he's going to starve
>i offer him a job plowing my fields in exchange for enough food to live on
>I am morally superior because I am saving a life
any compensation != fair compensation, and this follows perfectly from his example I love how you have no argument so you have now called me a commie twice. offering someone a job at a less than fair rate is taking advantage of a disadvantaged individual or group because they have limited options, plain and simple. but hey, if you keep spewing buzzwords you might get someone to call you based and redpilled.

>>14937435
Fuck off worthless faggot. In a free country (not yours, pussy) any Man should be able to open whatever business he wants. Worthless Europoors always are so quick to offer their opinions on the US, irrelevant

>>14938317
Then don't take the job? Why is other people's business your business? What right do you have to decide what is or isn't fair? I've worked alongside Mexicans in kitchens that come from Guadalajara where they made 2$ a day gathering hay barrels in the sun. Then they come here and work in kitchens doing insane work for minimum wage because they get fake SSNs and the business looks the other way. Those guys will do whatever it takes to survive. That's the spirit of capitalism, not fairness. And they ALL end up prosperous by the way. They live 3 families to a big ass house, pool their income and make 300k a year. They know how to adapt to the system as it is. The problem is you're a privliged brainlet that has never has to learn what it takes to survive, and therefore you could never understand. I'm not justifying unfairness in the world, I'm saying the world is unfair, and it's your fucking choice whether to survive in it or not.

>>14938385
I will keep saying it, people in power can take advantage of disadvantaged parties. you could pay addicts in drugs as long as they don't know what their labor is worth and they'll be satisfied with it, but that doesn't make it fair. and let me tell you, if it were allowed, people would be doing it, because it would be profitable.

>>14938470
>he talks like he gives a fuck about addicts
>only gives them homage of any kind on a Vietnamese synthetic nipple manufacturing imageboard

Fag

>>14938030
You don't know jack shit homo

>>14938407
>I'm not justifying unfairness in the world, I'm saying the world is unfair
>the world is unfair and I like it that way because it allows people like me opportunities to take advantage of others and say "suck it up, the world isn't fair"
The idea of minimum wage is to prevent people from having to adjust to an unfair system and try and inject a semblance of morality. if that puts people with unfair business practices out of business, those businesses shouldn't exist. if your business is hardly turning a profit, like selling squirrel meat, you shouldn't be able to drive your profits by employing and underpaying. keep seething and calling me names, see if I give a fuck.

>>14937053
>don't increase minimum wage
>inflation still happens
>except now everyone is too poor because wages haven't been keeping up with inflation
wow how did this happen it is a mystery?

>>14937356
captain obvious, duh! gas the kikes naturally goes without saying...

>>14937053
Inflation occurs because the government spends more money with things such as the defense of Israel....I mean millitary spending. Read a book you troglodyte.

>>14937092
The current federal US minimum wage is $7.25 and has remained unchanged for over a decade now. If it had been, at the bare minimum, keeping up with inflation, it would be around $9.50 an hour today.

imagine demanding to be paid enough money to live in a liberal city, in a trendy area, affording all of the luxuries, in exchange for making coffee and french frys. millennials continue to be a mistake.

>>14938069
It's bad enough that you're a bootlicker, but you're retarded as well. Inflation is caused by the government taking out loans from a central bank like the fed. The fed prints money which means the value of everyone's money goes down since there is more money circulating around. You lean all this in your 8th grade econ class

>>14938665
imagine offering a poorly paid coffee and french fry service in a major city that expects its employees to be able to live nearby.
>but why can't the people making my coffee work for a pittance while I talk shit about them?
you cant get something for nothing, child.

>>14938663
Millennials are on their 30s by now. Zooers are the ones suffering now. We'll begin the day of the pillow since millennials didn't have the balls to do it.

>>14938705
sorry you didn't learn to code wagie, not everyone is guaranteed the good life, go watch some cape shit, smoke your dudeweed, and figure out new ways to blame other people for your shortcomings.

>>14938665
also,
>moving the goalposts
nobody said anything about luxuries, a minute ago people were arguing whether it's moral to pay someone in basic sustanance if they're disadvantaged enough.

>increases the minimum wage
>literal everything increases in price in relation to it

socialists needs to kys, remove the minimum wage, get into a union if you want garbage like that, or get an actual job maybe

Has anyone else unironically benefited from this? £8.21 is a kino minimum wage.

>>14938550
It's not just the "moral" thing to do. It's economically healthy. You have this massive underclass that's been built up over the decades by the corporate oligarchy that writes the laws in the US, of people who can barely afford to pay their basic necessities let alone any sort of luxuries. Now you give them a couple bucks more an hour suddenly they're collectively pumping millions of dollars into their local economies that were otherwise being hoarded and hidden away in Panama.

>>14938760
bag the groceries in plastic, eggs on top or ill get your manager again wagie

>>14937141
This, unironically. There aren't standard conditions for workers. There never was and never will be.

$15 wage for a parent with two kids in NYC is a different bar than $15/hr wage for a dependent teenager living in West Virginia. The former may seem quite reasonable, the latter is a massive barrier to entry. You want a government imposed restriction on the freedom of contract based on an essentially arbitrary figure.

>>14938705
Why do you think the info in your 8th grade class covers everything? Printing money causes inflation. So do wage increases because they cause increased demand. Central banks all over the world work from the assumption that the wage-price spiral is real because all countries with a central bank that didn't went into hyperinflation.

>People in this thread that support minimum wage: providing actual sound economics arguments
>People in this thread that don't support minimum wage: commie, zoomer, dumb, low IQ, idiot, retard
REALLY makes me fucking think

>>14937053
this

>>14937646
Commies? Bruh the first comment you responded to is 100% capitalist. If a business can't compete with other businesses, then that business shouldn't exist.

>>14938770
You act like the cost of minimum wage will just magically come from employers and landlords for some retarded reason.

In reality what we see is the workers themselves losing benefits, hours, paying higher rent and even layoffs. Look at what happened when Amazon raised its minimum wage under political pressure- it removed all its employees stock options.

>>14938813
increased demand for money isn't inflation it's deflation. the demand for money causes them to print more money. inflation is to offset that increased demand, and if you didn't print money, there'd be less money to go around and every dollar would go up in price.

>>14938494
Congrats you’re the biggest fag ITT

>>14938834
shut up you fucking nigger faggot

>>14938753
>He thinks he's a special super secret hacker because he knows how to "code"
Lel enjoy being homeless since coding is so easy pajeets are able to learn it and are willing to work for pennies to be coding monkeys. Sounds like you're projecting since if you actually "knew how to code" you'd know how easy it is to learn syntax. I took me 1 week to learn enough C++ syntax for the robotics club I was in.

>>14938887
exhibit A

>>14938861
More people having more money causes demand for the products in the index used to calculate inflation to increase you utter retard.
>demand for money
This is one of the dumbest post ever posted friend. I hope you realize that.

>>14938898
but what if pajeet no more take job????????????????????

hmmmmmmmmmmmmmmmmmmmmmmmm

>>14938550
You seem to think a dollar amount actually means anything, when in reality it's the scarcity that makes something valuable. Increasing the amount of anything makes it less scarce, and therfore devalues it. Money is devalued as minimum wage goes up. I make 15.50/hr, in AZ this would be a great wage because stuff costs less. Why does stuff cost less? Because minimum wage is lower. More people make less money increasing its value. But in WA, where I live, where it costs 1500/month for a 1bdrm apartment in a non crackhead and homeless infested area, my wage is jack shit. It's not just housing though, it's everything local: gas, food, car insurance. If minimum wage was lower, my money would be more valuable. The answer to high costs isn't more money, it's less money. Otherwise shit will continue to get more expensive and inflation will eventually fucking skyrocket to the point that ONLY mega corporations and the filthy rich can survive.

>>14938753
It also seems that you're a loser that probably didn't even finish high school judging by your lack of understanding of basic economics. Stop projecting and finish high school of get a GED you fucking loser.

>da inflation is cause by dis
>no by dis conspiracy!!

Holy fuck inflation is caused when the US prints money out of thin air to pay for shit.

>>14938834
It's really easy to rely on the government (other people) to solve your problems vs. Solving them yourself.

>>14938912
money has supply and demand too dummy, what happens when you bring in a million immigrants who start working? do you think the money supply should stay the same?
>demand for products
you just said demand so it was ambiguous, but yes, you're right, so you can stop seething now.

>>14938962
It's not a hard concept to understand but unfortunately people are fucking retards and can be led to believe anything so we end up having these kind of discussions for decades

>>14938982
You mad wagie? Better go write an angry twitter. Maybe post to reddit.

>>14938854
His argument was increasing minimum wage. Killing a business by enacting laws so it can't afford 15/hr is communist and not free market enterprise. It's basically what Bernie sanders platform is. It's always easy to think "Yea other people will pay for it, fuck the rich" when you can't comprehend the ramifications.

>>14936977
Proposing a minimum wage is financial ignorance on a level that is downright anti-semitic.

>>14938982
>tfw GED

>>14939108
Look, fuck the jews, fuck niggers, fuck trannies and fuck JANNIES, but we don't live in a natsoc utopia bro. We can't. The only thing we can do now is protect capitalism from communism. At least until the race war.

getting rid of the federal reserve would fix this problem.

>>14939015
>demand for money
Is infinite unless you specify what asset you're exchanging and talking about how much demand for money there is priced in bananas is retarded.
>do you think the money supply should stay the same?
It definitely should in that situation, you would likely have to increase interest rates to counter inflation unless your economy is completely dead. Everything is pretty much the precise opposite to how you think it works. When the immigrants flee and the economy slows down is when you print money to maintain some inflation and encourage spending.

>>14939068
you say the government is killing a business with legislation, I say the government is allowing a poor business model that doesn't pay a fair wage to die to natural market forces. once again, taken to logical extremes, should slavery be allowed, and is outlawing it communist because you're killing businesses with legislation that can't otherwise afford their labor?

>>14939148
1971 was the year the gold standard was abandoned. Really makes you think, huh?

>>14939182
>should slavery be allowed
slavery is theft, technically speaking

>>14938166
The one who makes the original claim needs to support it with evidence. then the party that replies backs up their statement with evidence. but the original claim has to start first. otherwise, we could be arguing if unicorns are real or not.

>>14937816
>The markets will settle it
>''So, do we all agree to pay the employees next to nothing so they don't have any alternatives ?''
>''Settled, now let's go to the next room to meet the loli strippers''

>>14939182
The government interfacing with capitalist economics is a cancer. The two should never interact. Lobbying and politicians taking checks from corporations are why we have the problems we have. Legislation is always a response to business doing something that is too 'survival of the fittest', while the government exists to subsidize retards. When these two behemoths work together the outcome is what we have now, greed driven companies getting greed driven lawmakers to fuck the balance of power and transform a level playing field into a literal fucking game of thrones, creating massive indestructible corporations that rule over the world.

Your idea of slavery is so uncouth and broad. You have no strict definition and phrase it as someone working for someone else, when in fact capitalism the the only way to escape slavery because it's the ONLY system where you can work for yourself. Communism is you working to support the state, ie slavery.

I really, really suggest you stop thinking in extremes anon, because that is not the way the world actually is. You need a more practical approach of you ever want to be successful in the time you have left on earth.

>>14939304
>the retarded work hard while the intelligent prosper
>plus Loli strippers

Unironically explain to me how this is a bad thing

The lines between ironyposters and retardposters sure is blurry here

>Hillary 2020

>>14939165
i understand what you mean with infinite demand. im sort of inadvertently obfuscating what I mean when I say "demand for money" which, in this case, means a minimum amount required to have an acceptable standard of living, which could be presented by means of a basket of goods.
>It definitely should
but aren't inflation rates supposed to match an approximate amount of actual value increase in an economy? wouldn't the same number of dollars among more people cause your money to deflate? if so, then why is deflating your currency among more people an effective means of driving an economy? so people have to work harder for the same number of dollars?

some part of this is getting lost on me, but I am trying my damnedest anon, and I appreciate you having explained thus far.

>>14939207
paying 2 dollars for a 5 dollar product is theft also.
>>14939358
>I suggest you stop thinking in extremes
you didn't answer my question though, you challenged the premise and ignored the point. if your company can survive only on paying a disadvantaged worker in basic sustenance who accepts your offer because they have no other option, is preventing the obvious abuse within that power dynamic communist?
Hypotheticals are an important tool to make a point, and you can't just disregard them because they're "not reality".

>>14937083
This. I used to believe whole heartedly that minimum wage was a bad thing until I learned that inflation is basically kept at bay by Jews hoarding the excess cash that gets printed. Minimum wage increase is literally the only way to get that money circulating again.

>>14937227
(((The rich)))

>>14939442
>paying 2 dollars for a 5 dollar product is theft also.

>>14936977
You big silly!
Just "employ" illegals, "house" them in luxurious multi occupancy dwellings at the point of work, this efficiency will help not only yourself but also the poor immigrants, who are sending home what would be real wages in their homeland.
The super rich are just made of heart and tears, such helpful guys misunderstood in their stemming of world poverty.

>>14939182
>drive businesses you don't like into the ground by forcing them to pay exorbitant wages and taxes
>the remaining businesses you do like have to be taxed even more to cover for the hole left by the other business
>the cost of goods and services rendered increases because labor costs go up, "a living wage" must once again be redefined
>now those businesses go out of business too

This is why you starve. Maybe if you took out a mortgage or just saved instead of going to an $130,000-a-semester art school you wouldn't be having these problems you stupid faggot.

less than 4% of people make the federal minimum wage or below and close to 100% of the people that do make gratuity. That arrangement means we pay less but servers earn more based on eugenic, voluntaristic performance-based principles.

>>14939442
>wouldn't the same number of dollars among more people cause your money to deflate?
It's the same amount of money only more of it now goes to a consumer spending loop instead of investment. Consumer spending raises demand for products and therefore inflation. The biggest issue with inflation is that it encourages spending which increases inflation so you get runaway inflation which happens all the time in small countries. The only real counter people have come up with in practice is having a leveraged economy based on lending that relies on central bank controlled interest rates. The first time I heard all this I thought it was retarded but reality is harsh. All this talk of ideals doesn't really matter, we aren't in a position to be choosy, all this food security and prosperity that makes it seem like we can do whatever we want can collapse instantly.

>>14939650
Genuinely great post anon, thank you for clarifying. This is why I use this shit website.

>>14939627
>This is why you starve. Maybe if you took out a mortgage or just saved instead of going to an $130,000-a-semester art school you wouldn't be having these problems you stupid faggot.
I'm making well above minimum wage in a summer job and in a STEM degree. pls no strawman bully, I haven't tried to make assumptions about your life and kept it to the points I wanted to make. I do appreciate your efforts at making a real argument in the first half of your post.

Ive been here for 10 years and i always fail to understand why people fling shit as though it validates their points. are you just so angry at the world that you don't think people are listening to you? I can have my mind changed, you just need to make a good point.

>>14937197
Based.
Re-elect Trump

>>14937435
This. Only Walmart and McDonalds should exist.
everyone else can exit

please give me more monopolies

>>14937816
this

Holy shit, it's impressive how much financially illiterate people there are on /biz/

Did all those socialist liberals came from reddit?

>>14938049
Argentinean here , inflation does come from controlled wage increases.
Natural wage growth does not cause inflation but artificial one does because now everyone earns more and so they consume more so the supply is not enough and price goes up also people that earned above minimum wage start to demand more money causing things to go back to normal(just that you fucked your currency).
Or in the case of Venezuela , Argentina or any country with chronical inflation it causes a brain drain since union faggots driving trains are always the first getting their wages increased for inflation and smart people are the last to get them so they move to other countries.

>>14937747
>1 associates degree in statistics
>a bachelors degree in mathematics
>3rd year working on masters in thermals

>works as an unpaid interm squirrel detective

>>14939148
>>14939188
Wages have been collapsing relative to gold , outsourcing everything is a way of hiding that fact because now the laborers producing the stuff earns 10x less relative to gold.
So you hide the inflation by outsourcing.

is this wagie STILL bitching about wanting mandatory gibs? Oh ho ho hohohoho wagie, get back to work, you literally cant afford to lose your job

>>14937101
>fucking requirements.. lets create some more requirements to deal with these fucking requirements

>>14937053
>>Our merchants and master-manufacturers complain much of the bad effects of high wages in raising the price, and thereby lessening the sale of their goods both at home and abroad. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.

>>14937516
*Ahem*
Sir, you are wrong... Americans are not retarded, they're subhumans that should be gassed

>>14939967
You know what? I apologize; I just like indulging in shitflinging and acting like a retarded histrionic lunatic when I'm on this board in particular for some reason. As I'd like to believe of others on this board, I'm actually a pretty nice guy in person and I'm just making a nuisance of myself for fun.

Anyway, it's all a tough-and some might feel rather boring-discussion that probably wouldn't even be necessary if entrepreneurship and topical law were taught better in schools (what are "payroll taxes", what is revenue vs. income etc.). I shouldn't be seeing pictures posted by grown adults on my facebook wall implying that the CEO of a highly rated employer (Delta Airlines) should be killed for making the equivalent of $140 per employee when the government is taking tens of thousands of dollars at gunpoint from those very same people, nor do I think I should be seeing a politician unironically suggesting we double down on the exact same kinds of policies that led to the ludicrous situation with college tuition we have today, rewarding its borderline criminal perpetrators in the process, without being contested.

People need to understand the consequences, positive and negative, of what they think ought to be done-if anything-with the ineffable power of government before they're made to reflexively lash out in violence that will inevitably end with them being made poorer in every conceivable metric than they otherwise would be.

>>14937053

The exact opposite of what you said is true.

3rd world countries have no minimum wage and few labor laws. Unless you want USA to turn into a wild west slum, raising the minimum wage is the right call. Economists don't know shit about real world social dynamics.

>>14940245
Feels good being a train driver. Dropping university in the last year was the best decision of my life. Cope harder wagies.

Just give me my basic income so I can check out pls Mr. Kang

>>14936977
i want less unemployed niggers asking for money not more.

>>14941247
ur wrong tho. Tons of countries that are shitholes have minimum wages.

https://en.m.wikipedia.org/wiki/List_of_minimum_wages_by_country

According to the bls 96% of employed persons make over the federal minimum wage (89% of employed persons make more than all state minimum wages) and as I'd alluded to, most if not all of these people work in positions that would be considered gratuity earning positions such as bartenders, servers etc. who benefit from lower restaurant food and drink prices with often tax-free additional income that is in part performance-based. It's not perfect, but it's our custom I guess. Anyway the point is relatively few people are making these minimal wages and why is that? If the government says that you only need to pay your employee $9 an hour why are the vast plurality of people being paid and earning more?

The fact is it's much better that these people are earning less "on paper" under our asymmetrical laissez-faire system because the baggage associated with any umbrella legislation that increases anything by default be it minimum wages (thus costs for both employer and ultimately customer) or lines of credit (like they've done with tuition) is far worse than simply letting bartenders be "poor" taking home $150 in tips a night for listening to boomers' problems on top of their meager $70~ paycheck or encouraging D-students to get a job out of highschool instead of starting over 4 years later in massive debt from a college course no potential employer could conceivably find value in

>>14941778
(Sorry about how dissonant some of these statements are by the way, I'm waging and have had come back to and from these posts several times)

>Minimum wage goes from $7.50 to $15
>Inflation causes prices to exactly double because that's how economics works
Except it doesn't work like that at all so the purchasing power of the minimum wage worker actually goes up
What will really happen
>Prices will go up but not so much that they wipe out the gains from the minimum wage increase
>People whose labor is worth less than minimum wage will lose their jobs (but at least the taxpayer won't have to make up the difference. Paying your worker less than a living wage is just another form of corporate welfare)
>Near-minimum wage skilled labor (like the unions fighting against $15 an hour) will leave their jobs for minimum wage jobs, only to come right back because supply and demand will cause their wages to rise to compensate them appropriately
>Jobs at risk of automation will be automated more quickly (this was going to happen anyway)