$15.00 minimum wage

by hoser 30 Replies latest jw friends

• 

  hoser

  Simon has a good point about regional economies that a national minimum wage could cause serious damage to the economy.

  If a factory in small town Georgia is paying $12.00 per hour to its skilled workers producing widgets for the export market is forced to up the wages by 20% the market might not bear the price increase. The factory might have to close.

  I was actually in a situation like this a few years back where our labour costs outpaced the development of technology to reduce the labour needs. The company folded as our international buyers purchased from other countries who could produce for less cost.
• 

  shadowclone

  Employers said the same thing about the government imposing safety standards, pollution standards, etc. Can't afford it, will go out of business. Should anything be regulated?
• 

  WTWizard

  It is all relative. I don't care how much the number is--how many toilet papers per hour it is. I care about how much can you buy with it. In a world where the cost of comfortable living is in the area of a few cents per month, $1 per hour would be a fortune. If one square of toilet paper costs a sextillion dollars (and not even during a shortage), a billion "dollars" per hour would be a miserably poor wage.

  And, with every "minority" group demanding free stuff under threat of riots, our taxes are going way up. In addition, productivity will go down by the amount they would have produced, leaving all that money chasing fewer goods (inflation). You are asking for very high inflation at least, and if trust in the dollar totally breaks down, hyperinflation. In that event, 15 toilet papers per hour is going to be nothing.
• 

  My Name is of No Consequence

  It sounds like a good idea on paper, but then we would have to worry about inflation. To more than double the minimum wage at once would be disastrous IMO.

  With that being said, I wouldn't necessarily be opposed to a MAXIMUM wage. There are way too many billionaires out there.
  
• 

  hoser

  I don’t like the idea of a maximum wage. Not for working class anyway. I have seen too many people refusing to work overtime because the tax rates are too high. This ensures they’ll never get ahead. On the other hand I don’t think anyone earning minimum wage should pay a dime in income taxes.

  The solution for billionaires is simple. Abolish income tax and tax the living shit out of capital gains and inheritances. The can hoard as much wealth as they want but when the reaper comes to call the government gets most of it.
• 

  Simon

  On the other hand I don’t think anyone earning minimum wage should pay a dime in income taxes.

  Everyone should pay something in taxes, otherwise you get the situations where people don't want to work or earn more in order to avoid them.

  They should always be progressive - if you earn more you will get more, even if the marginal tax rate you pay increases along the way.

  Unless people have a stake in society, some investment in it, many don't seem willing to take part in society in the way they should.

  People don't value things if everything is free to them. If they contribute, then they will feel differently about seeing things vandalized etc... and have more of an interest in what happens to their tax money.

  The reason politicians don't want this is obvious - they would rather have the votes of the peasant and stupid class willing to give them up in exchange for free crumbs.

  "take from the rich" really is a dated and failed financial policy although there needs to be greater controls to prevent the ultra-wealthy controlling the playing field to keep their wealth. For those who don't keep up with things, when you see a billionaire saying the wealthy should pay more taxes, that is their way of controlling the game and protecting their position.
  
  
• 

  Simon

  BTW: If anyone thinks that a $15 minimum wage won't cause unemployment and inflation, please explain why it shouldn't be $100 instead.

  Surely if it's a free benefit with no drawbacks, then 'more' must be even better still?

  So why not $100, heck why not $1,000 and then everyone will be rich and all our problems will be solved!

  Just need to print the money ...
• 

  titch

  Well, how about this idea: As Hoser stated, abolish the income tax, and I say, institute a national Sales Tax. A Sales Tax on both goods and services. When you stop to think about it, everyone has to buy or purchase things, whether they be goods, products, or some kind of services. And, the Sales Taxes should be on both the Federal & State level.

  And, I have no objection to placing a maximum wage on earnings. Let's say, how about 5 millions dollars, and that's it. That should be the maximum amount that a person would be allowed to be paid.

  Titch.
  
• 

  MeanMrMustard

  Why the obsession with taxing? The purpose of an economy is to create goods and services, and not just any goods and services, but the ones people want and can afford. The sales tax would apply at every level of production, just making everything more expensive. This thread was created with wages in mind. If you want REAL wages to go up (not just nominal wages), and you want the stuff to cost less through greater supply, do tax industry. Also, a maximum wage will halt investment at a certain point, slowing production even more.

  In other words, the purpose for higher wages is to afford more things. Taxing production will go counter to that goal. Also, the money is just funneled to the most wasteful institutions possible.
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  hoser

  Titch. If the maximum income is 5 million there will be a lot of people who earn 4,999,999.00.

  Simon. I don’t believe taxes should be progressive. High earners are managers, business owners and hire a lot of people. Why discourage productivity?

  Maybe there should be a maximum income tax.