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What do you guys think of a $26 minimum wage?

Or, $26.21, to be exact.

http://imgur.com/NdRP8gO



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Awful!

That is nine dollars less than I was paid to work emergency rooms in 1984! Then again, things have become much worse, since that time! The money manipulation is so obvious when you analyze it this way!

Today if you are paid in

Today if you are paid in those same silver quarters you would receive $158.00 in melt value (Min Wage $7.25). Your comparison is a bit flawed. Silver and fiat coins. Apples and oranges.

For example I would gladly work two hours for a dollar. A Silver Eagle dollar. I would also work 2 hours for the 5 silver quarters. Yet you only had to work an hour for them in 1961. An hour of labor has not changed it is still 60 minutes.

Comparing how many hours you have to work to buy silver or gold is a much better comparison. The value of my labor (compared to the value of silver) is 50% less than it was in 1961.

Your conclusion about fiat currency is correct. Using the minimum wage to make your point stinks. It makes it sound as if a minimum wage is acceptable. People are free to set an individual minimum wage and are free not accept a job for less. Business owners are not free they are bound by minimum wage.

Here is the problem

too many sheeple, Federal Reserve brainwashed. http://www.youtube.com/watch?v=z7usCHnZ-8c

Surviving the killing fields of Minnesota

Todays brainwashing: GMO's are safe

I think I wasted too much time and money

becoming an engineer if I could get $26 an hour for cleaning toilets and saying "Welcome to Wal-Mart".

We can do both - WITHOUT government intervention

We can fix money by fixing the minimum wage. It's as simple as requiring about $30/hr for all jobs.

Doing so would increase the income high enough that we could not only go back to single income families (alleviating unemployment) but we could also reduce the retirement age to around 30. This would effectively take back the productivity that the banks have stolen from us over the last century.

Getting there is a bit tougher because the transition will be very rough when there's still so many people looking for work. Once people learn the tricks, they will see how much wealth their productivity is really worth. Simply by eliminating all interaction with fiat banks (both direct and 2nd and 3rd degree) and by keeping their money local and by owning vs. renting things and services, they can earn today's standard of living in 8-10 years and then retire.

The bonus is that by avoiding banks, that 'social debt' will begin to be paid off. When it hits the fractional reserve limits, it will default, leaving only full reserve banking (even if only via friends and family) and sound money as viable.

In doing all this, the businesses will be forced to choose between two alternatives for jobs that too high of wages are demanded for. They will have to automate the job or they will have to enhance the 'service' aspect of it (think waitress or the 1950's gas station attendant) to justify charging higher prices. With the pool of employees rapidly reducing, this will put them back in the driver's seat for wages and the genuine free market (regarding employment) will finally return.

Minimum Wage


http://youtu.be/RcsD7HUSkCY

For Freedom!
The World is my country, all mankind is my brethren, to do good is my religion.

I think wage is a private contract

No outside entity has the authority to usurp a private contract for work over me.

I think any mandate from any government is a dictate implying authority over sovereign free humans by dictators. Voluntary sugestions are the best I will ever accept from anyone. Dictators get enlightened disengagement.

sovereign

so in your world

all forms of government are dictatorships

any form of governmental order to an individual, even if it comes from a board that the individual is a member of, is unacceptable

you obviously aren't interested in restoring a constitutional representative republic.

Have fun in the basement today.

"Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe."-- Albert Einstein

Min. wage

The minimum wage doesn't tell the employer to increase everyone's pay. It tells the employer that they can hire anyone they want and pay those people the minimum wage.

Let's say that some employees are getting paid $5 and they are worth only that much to the employer. All of a sudden a new law is passed that says the min. wage is $10.

The employer will now fire two people and hire only one who has the skills and willingness to do the job of the other two inefficient workers.

From the employer's point of view, he lost nothing and gained nothing after the new law.

The law helped skilled workers at the expense of unskilled workers.

But that's okay for the unemployed workers because - Welfare Pays More than the Minimum Wage in Most States

I sure do,

miss those silver coins!!!

NOSHEEPLE

These are great conversation starters

http://www.providentmetals.com/coins/currency/inflationary-c...

If you posses one, are you not a millionaire?

Southern Agrarian

Grandmother was paid $.15 an

Grandmother was paid $.15 an hour in the 40s at her high school job.

Southern Agrarian

If $26 is good wouldn't $100

If $26 is good wouldn't $100 be better? How about $1,000,000!! We could all be millionaires! (No, I'm not serious.)

when the government purposely

when the government purposely removes the source of value from our currency then inflates the currency by "2%" every year, it is no wonder so many people are poor. if we still had honest money the current cost of living wouldn't require a $26/hr wage to survive.

Whoa man, that's like um, like a...TOO LOW!

Hey, why low ball it?

Let's sink this Titanic even faster, like overnight!

The 'working wage' lowest minimum should be: $27TRILLION an Hour!

Yay!

xD

Predictions in due Time...
http://www.youtube.com/watch?v=zGDisyWkIBM

"Let it not be said that no one cared, that no one objected once it's realized that our liberties and wealth are in jeopardy." - Dr. Ronald Ernest Paul

Lol

Lol. But the OP is right about the nature of fiat money and the need to fix it first.

Forced Union Maximum Wage & Privileged Contracts are the Problem

A 26.00 hourly wage could NOT be considered a "minimum" wage;

It would be a "LIVING" wage; which of course would be almost as bad as forcing a MAXIMUM Union wage (which you pay through forced unenumerated taxation RIGHT NOW).

Reasonable "Minimum" wages if locally (COUNTY) controlled under "CONSENT" of the community are not a bad thing, as it holds financial slavery at bay.

The Federal Government however acts outside it's authority in establishing any kind of wage, as Constitutionally it "CANNOT MAKE ANY REGULATION THAT MAY AFFECT THE INTERESTS OF THE CITIZENS OF THE UNION AT LARGE."

Virginia Ratifying Convention 6-16-1788:

In Full: http://www.americanpatriotparty.cc/americanpatriotpartynewsl...

Mr. PENDLETON. "Mr. Chairman, this clause does "NOT" give Congress power to impede the operation of ANY PART of the Constitution,(N)or to make ANY REGULATION that (EVEN) MAY AFFECT THE INTERESTS OF THE CITIZENS OF THE UNION AT LARGE. ..."

Understanding where "Exclusive Privileges" granted by government and other Undelegated government powers are the main corruption in this country;

And that if anything should be addressed, it is "Undelegated Federal Powers", "Privileged Contracts", and "MAXIMUM Union wages" that is what needs to be targeted for removal first.

See "Privileges and Contracts" which covers these issues:

http://www.americanpatriotparty.cc/americanpatriotpartynewsl...

American Patriot Party.CC
http://www.americanpatriotparty.cc

Educate Yourself. Educate Others.

RichardTaylorAPP - Chair - American Patriot Party.CC

John Locke #201, 202, 212 to 232; Virginia and Kentucky Resolutions 1798; Virginia Ratifying Convention 6-16-1788; Rights of the Colonists 1772.

Cyril's picture

The Minimum Wage Is Not Only Unfair But Is Also Actually Hurting

How The Minimum Wage Is Not Only Unfair, But Is Also Actually Hurting The Economy

http://www.dailypaul.com/256046

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

I'm looking forward to the

I'm looking forward to the greatest depression ever.

You can't join

You're not depressed enough :-[

Free includes debt-free!

meekandmild's picture

$5.00 small drinks with no free refills

at the fast food places

It would immediately eliminate our exports.

Employees will, for the most part, be replaced by machines, computers and outsourcing.

$26 per hr plus Obamacare, increased Soc. Sec., unemployment benefits, etc., adds up to $6600 out of pocket per month, plus. No business is going to pay an inexperienced newbie gamer generation kid that. Last 20 year old I hired put 90 psi air in my tires and could have killed himself. I've had two gamer putzes not know how to put air in the tires, but this kid didn't even know how to read a tire guage. I'm not hiring people that can't check the oil or change a tire. Let Duke Nukem hire and train them.

I'd rather buy a $440 Scooba automatic floor washer.
or a $2300 Husqvarna automatic lawn mower. (If I had a lawn.)
or a $175,000 automated hamburger maker.

I've already fired most of my 12 person shop. I just received the last piece of automated equipment that replaces another half an employee. I bought it from another business similar to mine, except he is shrinking down to the point where he is working out of his garage.

Forces in play right now will destroy any business owner in the private sector receiving marginal utility from the workers

After 39 years, the free advice is:
Do it yourself, automate, outsource and shun credit like the plague.
Employees are now high risk liabilities, not assets.
Churn doesn't count except in the very beginning.

"Timid men prefer the calm of despotism to the tempestuous sea of liberty" TJ

How much gold did your average hourly wage buy?

http://pricedingold.com/us-wages/

Free includes debt-free!

DJP333's picture

Really good info

This should be made into its own post!

"It’s not pessimistic, brother, because this is the blues. We are blues people. The blues aren’t pessimistic. We’re prisoners of hope but we tell the truth and the truth is dark. That’s different." ~CW

In 1971 I was paid minimum wage. 5 Quarters per hour.

T make the same gold equivalent today would mean 6 times the current minimum wage.

Or over $43/hour to compensate of higher tax rates.

In 1971 I was paid to fry frozen potato strips golden brown.

At the beginning of the common era a Denarius was a day's wage. It was a little lighter than US Quarter.

Over the centuries is shrank to the weight of a US Dime. I don't know if wages went up as weight per coin dropped.

Henry Ford paid my Grandfather-in-law $5/day in 1930s. No FICA, FUDA or withholding.

ctkelly85 has newspapers showing he could by 5# sugar, 1# steak or more variety meats, 6# onions. 1# coffee for 76 cents. 24 cents a week for entertainment.

I wonder what rents were in 1931-2 or eggs and bacon?

Free includes debt-free!

Hey that would be comparing

Hey that would be comparing apples to apples! :)

I noticed that in the

I noticed that in the Philippines, with an extremely low minimum wage of about 50 cents an hour, at the shopping malls you had pretty much a worker standing next to every rack of clothes in the department store.

The low wages allowed them to hire more people as compared to the U.S., however those people were pretty much slaves that could barely afford to eat. It appears that not mandating a minimum wage means more workers that live to lower standards. Absence of a minimum wage seemed to create more haves and have nots. Goodbye middle class.

I have seen that as well and

I have seen that as well and I think you have a very good insight. Unfortunately, many of the responses to your post do not take the full complexity of the situation at hand. In a perfect, sanitized world the economic theories put forth would take care of everything. I understand the theory. However:

Those people that are working there probably lost their land to an international mining company colluded with the government. So they do not have a choice but to work under slavery conditions. The theory does not account for that since property rights are supposed to be respected. There are many other examples where the assumptions of the theory do not hold (basically it is property rights not respected).

I am from India and I have

I am from India and I have seen how people were able to survive at less than $2 per day until about 5-10 years ago. The so-called Foreign Direct Investment in the form of fiat currency (cheap credit in USD) and 'modernizing' of the infrastructure lead to a massive increase in demand for oil that directly translated to 16+% y-o-y food inflation in the last 10 years. The Indian Government's loose monetary policy amplified this as well. Now $2 per day is a joke in India. Implementing a minimum wage is neither going to solve their problems nor problems in America.

How is your argument about property rights not being respected related to minimum-wage? Are you implying that a minimum-wage is a compensation for lack of property rights?

Note that libertarians and related folks do have the same empathy as you, on those who have had the misfortune of becoming unemployed in this bad economy. But you call for more Government laws (such as minimum-wage) to help them, whereas it is the Government that (indirectly) forced them into unemployment in the first place.

Fiat money and inflation is a

Fiat money and inflation is a way to steal from people and it is very subtle. This is where property rights do not get respected. Then after this theft - which by the way is taking place via the Fed in the States - people in the lower scales have to bear the brunt of the pillage.

The comment down below illustrates this concept.