Why a $15. Hr Min. Wage Should Scare Us
#1
http://www.pbs.org/newshour/making-sense...-scare-us/


Excerpt: 

recent calculation by James Sherk, a labor economist at the Heritage Foundation, finds that $15 mandates would eliminate about 9 million jobs nationwide. Unskilled workers like those working at fast-food restaurant stand to lose the most from the hike. Based on a national average — not restricted to a high-cost city such as Washington or San Francisco — Sherk estimates that a $15 minimum wage would cause a 36 percent drop in hours worked in fast-food chains. If you’re wondering why more and more McDonald’s restaurants in the United States are atomizing, like they already did in Europe, wonder no more.
But it’s not only jobs and hours that may be lost. Work by Neumark, Wascher and Mark Schweitzer of the Federal Reserve Bank of Cleveland also shows that minimum wages increase poverty — and hence poverty reduction shouldn’t be expected as a benefit of raising the minimum wage. That’s because, contrary to common belief, the relationship between low wages and poverty is extremely weak.
As Neumark, who has done extensive research on the issue, explains, “the principal sources of an individual’s higher earnings are more schooling and the accumulation of experience and skills in the labor market,” both of which are discouraged by increases in the minimum wage. Though an increase raises the wages of some people, it also reduces the employment of others, namely young and low-skilled people.
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#2
I'm not sure it really matters. We're all going to be automated out of a job, except for a lucky few. So, this only speeds the process up a bit. It doesn't change anything. Pessimistic certainly but I don't see any other path.
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#3
(09-15-2016, 08:13 PM)Cuzz Wrote: I'm not sure it really matters. We're all going to be automated out of a job, except for a lucky few. So, this only speeds the process up a bit. It doesn't change anything. Pessimistic certainly but I don't see any other path.

Well notice this is from "recent calculation by James Sherk, a labor economist at the Heritage Foundation"

Posted on a PBS site, a column by a very conservative writer from a very conservative think tank. 

Gotta love PBS!  Smiling.  Now that's fair and balanced! 
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#4
"...the relationship between low wages and poverty is extremely weak."   Blink 

I love that quote form the article.   Big Grin
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#5
Damn, all those fast food cooks will have to get a $15 /hour job, fixing the robots that replaced them as fry cooks.
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#6
(09-15-2016, 09:09 PM)Cuzz Wrote: "...the relationship between low wages and poverty is extremely weak."   Blink 

I love that quote form the article.   Big Grin

Yeah right. You know why these people are poor? Well it's not because they don't get paid much money.
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#7
(09-15-2016, 09:31 PM)cletus1 Wrote:
(09-15-2016, 09:09 PM)Cuzz Wrote: "...the relationship between low wages and poverty is extremely weak."   Blink 

I love that quote form the article.   Big Grin

Yeah right. You no why these people are poor? Well it's not because they don't get paid much money.

A lot the dumb shits spend it food, gas for the (old) car, and rent. We outta shoot 'em.
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#8
(09-15-2016, 09:31 PM).cletus1 Wrote:
(09-15-2016, 09:09 PM)Cuzz Wrote: "...the relationship between low wages and poverty is extremely weak."   Blink 

I love that quote form the article.   Big Grin

Yeah right. You no why these people are poor? Well it's not because they don't get paid much money.

Damn. You know things would be great again if we could just rape the forests again like it was 1977.
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#9
(09-16-2016, 03:03 PM)Wonky3 Wrote:
(09-15-2016, 09:31 PM)cletus1 Wrote:
(09-15-2016, 09:09 PM)Cuzz Wrote: "...the relationship between low wages and poverty is extremely weak."   Blink 

I love that quote form the article.   Big Grin

Yeah right. You know why these people are poor? Well it's not because they don't get paid much money.

A lot the dumb shits spend it food, gas for the (old) car, and rent. We outta shoot 'em.

I think my little sarcastic post didn't sneak by you this time. Am I right? Big Grin
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#10
(09-16-2016, 03:37 PM)cletus1 Wrote:
(09-16-2016, 03:03 PM)Wonky3 Wrote:
(09-15-2016, 09:31 PM)cletus1 Wrote:
(09-15-2016, 09:09 PM)Cuzz Wrote: "...the relationship between low wages and poverty is extremely weak."   Blink 

I love that quote form the article.   Big Grin

Yeah right. You know why these people are poor? Well it's not because they don't get paid much money.

A lot the dumb shits spend it food, gas for the (old) car, and rent. We outta shoot 'em.

I think my little sarcastic post didn't sneak by you this time. Am I right? Big Grin

God knows we live on sarcasm here at the 'Ol RVF.
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