Anyone watch "30 days" of FX?

[JackWhite]

[ QUOTE ]
Well here in the real world - I'm here to tell you that as a small business owner MMMMMM's got it right if the minimum wage is raised I'll just have to put a few hours of overtime in and not hire a summer student.

[/ QUOTE ]

The minumum wage has not been raised for several years. In real dollars, it is worth a lot less than at any point in recent history. Should it never be raised? If inflation turns 6 bucks an hour into the equivelant of 4 bucks an hour, isn't the minimum wage being lowered every year? (lowered in terms of its expense to the business owner)

[slamdunkpro]

[ QUOTE ]
If inflation turns 6 bucks an hour into the equivelant of 4 bucks an hour, isn't the minimum wage being lowered every year? (lowered in terms of its expense to the business owner)

[/ QUOTE ]

No, because my busness expenses are affected at the same rate. If I charge $100 for something I get $100. The only way I can get more is to raise prices.

Besides this is an irrevelant academic argument - $5.15 today is $5.15 today What it was 3 years or 3 days ago dosn't matter unless you have a time machine.

[kurto]

[ QUOTE ]
Well here in the real world -

[/ QUOTE ]

I forgot that the city of Chicago wasn't real. You're too funny.

[ QUOTE ]
MMMMMM's got it right if the minimum wage is raised I'll just have to put a few hours of overtime in and not hire a summer student. I know a lot of real world business people who think the same.


[/ QUOTE ]

And they've also shown that when people have more money, the poor spend (and don't save their money) and it returns to the economy... and small businesses like yours can do more business.

[ QUOTE ]
Dan Akroyd said it best in ghost busters " You've never worked in the private sector - they expect resuts!"


[/ QUOTE ]

Yes... quoting Ghostbusters makes a strong case.

[JackWhite]

[ QUOTE ]
No, because my busness expenses are affected at the same rate. If I charge $100 for something I get $100. The only way I can get more is to raise prices.

Besides this is an irrevelant academic argument - $5.15 today is $5.15 today What it was 3 years or 3 days ago dosn't matter unless you have a time machine.


[/ QUOTE ]

It is not an irrevelant academic argument. If the minimum wage was put in place to assure people a certain minimum standard of living, and due to inflation, that standard of living is reduced, then the original purpose has been defeated to some extent.

If inflation increases, but your wage does not, you are getting less than you were in the past. It has nothing to do with a time machine.

[slamdunkpro]

[ QUOTE ]
And they've also shown that when people have more money, the poor spend (and don't save their money) and it returns to the economy... and small businesses like yours can do more business.

[/ QUOTE ]

OK here's some sad facts for you - I used to run a bar in one of the worst areas of Baltimore. What do the poor (and I mean poor) spend their money on? Lotto, Keno, cigarettes and booze. What's left over might go to rent, then they have no money and eat out of dumpsters.

They may have to eat out of my dumpsters, but they get those lotto tickets every day.

[ QUOTE ]
Yes... quoting Ghostbusters makes a strong case. {quote]

If the shoe fits.....

[MMMMMM]

[ QUOTE ]
[ QUOTE ]
MMMMMM's got it right if the minimum wage is raised I'll just have to put a few hours of overtime in and not hire a summer student. I know a lot of real world business people who think the same.

[/ QUOTE ]




And they've also shown that when people have more money, the poor spend (and don't save their money) and it returns to the economy... and small businesses like yours can do more business.

[/ QUOTE ]

Sure that money may return to the economy. That doesn't mean it creates the same number of minimum wage jobs, though.

[kurto]

[ QUOTE ]
It is not an irrevelant academic argument. If the minimum wage was put in place to assure people a certain minimum standard of living, and due to inflation, that standard of living is reduced, then the original purpose has been defeated to some extent.


[/ QUOTE ]

Clearly he does not understand this concept.

Just be greatful he's not your boss.

[kurto]

[ QUOTE ]
OK here's some sad facts for you - I used to run a bar in one of the worst areas of Baltimore. What do the poor (and I mean poor) spend their money on? Lotto, Keno, cigarettes and booze. What's left over might go to rent, then they have no money and eat out of dumpsters.


[/ QUOTE ]

Cool... approx 26% of the country (as of 1999) lives at the poverty line and you're generalizing about all of them. I'm sure your experiences in your bar are enough to generalize about all people who make their living from min wage jobs.

You've convinced me!

[ QUOTE ]
If the shoe fits.....

[/ QUOTE ]

I'm starting to believe you wear your shots on your hands.

[kurto]

[ QUOTE ]
Sure that money may return to the economy. That doesn't mean it creates the same number of minimum wage jobs, though.

[/ QUOTE ]

You keep guessing... while on the other hand, they've studied this and shown that PRECISELY what happens is more jobs are created.

This is why the middle class taxcuts were so successful in the 90s. Trickle down is BS. Trickle UP is what works. The people with less disposeable income spend money when they get it. With a large mass of people increase their income and spend more, it is the best way to improve the economy and this includes the job market.

I believe another poster linked to a recent study that confirmed this theory. Not to mention we saw it nationwide in the 90s.

[slamdunkpro]

and what exactly do you do?