Economics 101:
If you raise the price of something, you get less use of it.
Progressives were sleeping when that was taught
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Economics 101:
If you raise the price of something, you get less use of it.
Progressives were sleeping when that was taught
Yes, but that also applies to the dollars in discussion. Hence, the increase to account for not only inflation of the currency itself, but the factors for which those dollars are intended: cost of living. This is skewed because of the non-commodity based funny money we have. Fiat currency with no backing standard is utter bullshit. It's the most glittery of unicorn farts.Quote:
Originally Posted by bryjcom
When buying power is reduced, one needs more to do the same things. Look at Venezuela or the Weimar Republic and how utterly useless their cash is/was.
All in all, we are a poorer nation and the minimum wage increase as a necessity to account for other factors being inflated is merely a symptom.
It would be absurd to say someone from 1968 to say, "hell, I went through college with no debt, bought a house, and my wife stayed home, all on 30k a year!" to someone today.
Example: 1913 $1 = ~$0.4; should someone from 1913 be alive and balk at the minimum wage in 1968 (~$1.60), because "I made a nickel an hour in my day!". Well good for you. Your nickel is now worth ~$1.60 in buying power in 1968.
But other factors rose too, and not in an equal fashion, so the buying power is reduced further.
With the only standard for currency value to be whatever TPTB come up with, we'll continue to see these symptoms increase until it blows up in a massive, horrible, global economic disaster.
I better start saving up for those snowy days. That milk and bread is going to get expensive.
I think the point was that saving without return on savings lowers your purchasing power.Quote:
Originally Posted by ray1970
I guess that leaves bitcoins as the inflation hedge.
Even Irving is accepting bitcoins and litecoins now.
Dang, I switched everything to Riddle at 75 cents per unit - (riddle me this and riddle me that)
[panic]
For a business to employ people, those employees need to return greater value to the business than they are paid (otherwise the business goes bankrupt). The problem with raising minimum wage is that a certain segment of the population is not capable of returning value greater than that minimum, thus, they become unemployable. The higher the minimum wage, the more unemployable people will suck the public teet that is funded by our tax dollars. It is part of the Democrat plot to ensure their voter base expands. Thus, we are ALL affected negatively.
Speaking of Econ 101, why is it that so many Americans are clamoring for more corporate taxes. "Corporations should pay their 'fair share'!"Quote:
Originally Posted by bryjcom
I still remember from grade school; "Corporations don't pay taxes. Taxes are passed along to the consumer in the form of higher prices."
If you're a consumer of whatever the corporation produces, those same idiots demanding business should pay more in taxes are begging to pay more tax by proxy. The stupid is strong with these people.
Businesses are not charities or non-profits. A mandated higher expense to business is going to be passed along to consumers and/or the business will have to reduce their costs of production. Labor is usually the largest expense on the balance sheet and is the biggest target for reductions.
Liberals in government seem to think that the world we live in is a zero sum game. It's absolutely not.
"living wage" = less opportunity
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All very good points folks and I agree wholeheartedly. Please keep 'em coming as I need talking points when this issue rears its ugly head from the liberals at work.
I have good friends who own restaurants and they WILL be increasing their prices across the board and decreasing staff hours based on seniority.
Should keep prices the same. Add a "Colorado minimum wage" surcharge to every ticket.Quote:
Originally Posted by KS63
The McDiddy at Loveland has ordering Kiosks now, if minimum wage workers becomes more expensive then employers with the ability will replace them with machines that do their work without asking for more pay.