48 votes

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

Or, $26.21, to be exact.

http://imgur.com/NdRP8gO

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Actually the food inflation

Actually the food inflation in India y-o-y was close to 23-24% in the last 10 years. Last year alone, july 2012 - july 2013 vegetables had an inflation of ~50%. Minimum wage is not going to solve this but fixing the money (as the OP suggests) is the true way to go.

What the hell are you talking

What the hell are you talking about and why are you even here? Yes, compared to a middle class American lifestyle, 50 cents an hour won't cut it. Compared to living in a hut with no electricity, no running water, and dirt floors, it's a dream for many of these people. Again, why the hell are you even here if your understanding of free-market economics is just regurgitating bullet points of a Berkley college freshman?

"In reality, the Constitution itself is incapable of achieving what we would like in limiting government power, no matter how well written."

~ Ron Paul, End the Fed

Michael Nystrom's picture

Hey man, why so angry?

What is it? What haarp string did he tweak in you that resulted in that reaction?

- - - -

What do any of us know of each other anyway? This is like being at a Masquerade Ball:

Mr. Raceboy vs. sethr11

Remember that New Yorker cartoon? Those dogs on the keyboard, cheerfully rejoicing: On the internet, no one knows you're a dog.

Here we have people claiming to be dogs.

We have rangers and Grangers, and Legalizers, and Presidents, and Sitcom stars, and foods, and weird squiggly characters, and dudes, and chicks, and animals, and codes and passing thoughts -- All here at the Masquerade Ball known as the Daily Paul.

Everyone back there hiding, hiding behind those screen names.

Like ghosts. Not fully present. Not fully conscious.

The only way to make sense out of change is to plunge into it, move with it, and join the dance. - Alan Watts
deacon's picture

not quite true

a member here,found me,my name, and a letter to the editor
i created
Even went so far as to post it here,on your forum
Now from this,he even found where i live.
This was done to try to scare me,but it back fired,i found
where he lived,what games he plays online,and where he took his vacations
and with whom.
At least i was fair about it all,i kept his identity a secret,and didn't post what i found here,for all to see.

So how much hiding can we actually be doing,if members find each other,and some might even use that to their advantage,or disadvantage,depending on which side of it all you are on.

If we deny truth before your very eyes,then the rest of what we have to say,is of little consequence

Nobody is fooled into believeing

The screen name hides them. If they do they have not been informed about the zio NSA recording every key stroke at your IP.

So its like you say a Masquerade Ball but everyone is know by the landloard of the building. I would rather thing that my screen name is a message to those despots that are trespassing on me and spying.

Im not fooled into beilieving that I am anonomous.

I do think I get the jest of what you mean and do agree. The above poster was comming down hard and IMHO on the wrong side of individual liberty and using as his arguement insulting bias. Wonder how many timnes that guy ever visited a Nip Hut in PI. I have visited a Nipa Hut in Philipines Island and seemed it was because of government tax that most of those people lived in those Nipa Huts over a river. Seems at the time if you didnt live over land you could avoid the extorted theft called tax from that dictatorship called government.

sovereign

Mr Raceboy

is probably like that with his/her real named self as well. Generally people's true colors come out even with a screen name.

I am not hiding behind my screen name.

I chose it for a reason, and a good one.
my "real" name is easy to find out and is not hidden .

my screen name is actually a provocation. I don't mind if you care to try and prove that I am not in fact a high level HVAC/R technician.
your worship of BILL3 and his mindless drivel is why I cancelled my subscription.

"don't be too proud to be strong"

Not a complete picture

Sethr11,
Every post by you in this thread has deep flaws. You past posts are also in a similar vein. Not sure if you have any hidden agenda here to spin your stories.

Every individual has a net-productivity per hour based on his comparative advantage in a particular profession. Any person whose net-productivity per hour is in-between 0 and the minimum wage is effectively forced into unemployment, unless there is a strong demand for labour (whereas in the current economy the supply of labor is too high and too few jobs).

Minimum wage cannot guarantee even a subsistence level of income. People working for half the minimum wage will always be better than the unemployed in the absence of or ineffective Government welfare.

Minimum wage american + regulation cost + raw material cost in US > 50c/hr asian + no regulation + raw material costs which makes their products much cheaper and drives out jobs off America.

If you abolish minimum wage laws and abolish all rules and regulation in heavy industry (such as safety/security and pollution control etc.), Americans will have jobs once again. Negative externalities such as workplace safety risks and pollution damage to the community can be solved without Government regulation.

Finally read this excellent article by Rothbard on minimum wage - https://mises.org/daily/6367/Outlawing-Jobs-The-Minimum-Wage

Don't slip in too deep on the

Don't slip in too deep on the paranoia. My dark lords did not send me here to carry out an agenda. I have legitimate interest in economic theory.

I do not however, take free markets as the complete perfection of economics. The more I learn, the more I am coming to believe that free markets as opposed to communism, is the lesser of two evils. A lot of DPers seem to take free markets like a religion to have faith in or something. My faith is in Jesus, everything else I question.

If you free market people want to bring people to your side, why the name calling when the religious doctorine of free markets is questioned? Not you calling names, but a lot of people here flip out, rather than discuss.

If there is a way to view my comments from other posts than economic related ones, go check out my comments on guns and foreign policy, bet u agree with those a little more.

Do me a solid

and do my math homework for me :)

meow

:)

Post some on DP. We can help give our insight into the math. Do read the blog on http://betterexplained.com/ for better appreciation of various math concepts - from algebra to calculus.

Its been so many years since I finished high school and then engineering, but I keep finding new ideas in the above blog :)

For some workers the alternative is starvation.

Governments raises minimum wages to increase government revenues.

It often backfires when workers lose their jobs and government, their revenues.

The banker's benefit as welfare rolls swell.

All government operations are financed.

All revenues (taxes etc) only pay the interest on the debt.

Free includes debt-free!

To some people unless they

To some people unless they are 50lbs overweight with a PS3 they are obviously being raped by capitalism. LOL

"In reality, the Constitution itself is incapable of achieving what we would like in limiting government power, no matter how well written."

~ Ron Paul, End the Fed

Stop bashing this picture with your minimum wage arguments!!

Yes, I know the minimum wage hurts the poor and unskilled the most. But there are 2 battles represented in the picture: minimum wage and the (more important) monetary policy. If monetary policy could be fixed, then the minimum wage argument would become obsolete. Of the two issues, monetary policy is the more important.

Mirand Sharma

All minimum wage laws do is to prevent lower skilled workers

access to employment opportunities. Its interesting to note that the recent unemployment laws were changed in 2007 and increased incrementally to 2009,
"The July 24, 2009 increase was the last of three steps of the Fair Minimum Wage Act of 2007. The wage increase was signed into law on May 25, 2007" WIKI
Seems that was when this high unemployment and accompanying recession started. Making laws that prevent less skilled and less fortunate people from getting a job is criminal.

Minimum wage does not prevent

Minimum wage does not prevent low skilled workers access to jobs. Minimum wage is what low skilled workers do for a living. Fast food is low skilled. With no minimum wage, McDonalds would employ the same people, just for less per hour. If those people made less per hour, you would subsidize their ability to eat, even more than you do now.

Would you rather pay more taxes to fund food stamps for Walmart workers, or would you rather Walmart's billionaire owners pay a wage that enables those people to buy their own groceries, so you don't have to?

Minimum wage does cost people jobs

I lost my 1st job to an increase in the minimum wage. The President of the company got rid of both minimum wage college kids, he said he just couldn't afford to pay the increase.

Pathetic

Go, spread your lies in some mainstream media comments section.

I think it is a brilliant idea as long as it is done ...

over night and not phased in.

Imagine what would happen.

There are other things that I think are counter intuitive as well.

State Commissions regulate all sorts of things ...
Unions, Mining, Drilling, Agriculture, Gambling, etc., etc.

Take the union question.

The Republicans want to stop them.
When they are in control, they should approve every collective bagaining unit application that crosses the desk.

Take the fracking and drilling commissions.

The Democrats want to stop.
If they really wanted to stop the polution, they should approve every drilling permit that crosses the desk.

If government's real intent is altruism, they should do exactly the opposite of what they think the answer is and see what happens.

In today's money

... I think there would be a lot more unemployed people.

Since there is something called seigniorage

The value of the five quarters is more than the value of the metal content. This was to prevent the coin from being melted back into bullion and it gave the minter, usually a government, revenue based on the difference.
One of the wonderful things about the minimum wage is it fixes prices via government fiat rather than the market.
When government does that it distorts the labor market. If a government subsidizes something, it gets more of it. When it taxes something, shortages develop.
Right now, $26 is over 3.5X the current minimum wage. At the current price of $7.25/hr around 7% of the work force is not working. Employers are refusing to buy workers who want to work for $7.25/hour. The work that needs to be done at that price or below, is not being done, or done here. If you went to a movie theater and they demanded $26 to put you in a seat to watch a movie when you are used to paying $7.25 for a couple hours of entertainment and twenty minutes of advertising, you would be pickier about what movies you were going to go to the theater to see.
It is the same with wages. At $26 per hour, unemployment would explode. The movie theater and local fast food restaurant would close.
Government cannot set prices. It can't for labor and it can't for money by setting interest rates. It is called moral hazard. The market, that is, consumers set prices. In a free market, the customer is king.

[F]orce can only settle questions of power, not of right. - Clyde N. Wilson

Perhaps

Perhaps there's another explanation, too. Welfare provides more than $7.25 per hour. Minimum wage, full-time work generally can't support one person in this country.

We need to...

...yes, fix the money supply by abolishing the Fed Reserve and imprisoning all leaders who prop up the fraud.

And ELIMINATE the minimum wage and every other centrally-planned economic policy emanating from the corruption in DC.

The min wage creates unemployment and drives prices of commodities up.

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a rEVOLution before tomorrow morning." - Henry Ford

hell, let's make in $500/hr

why stop at $26?

I say 10,000

Minimum wage $10,000 an hour! Everyone would live like Bill Gates, or at least Al Gore. All it takes is for government to force employers to do it. So simple.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

Still not silly enough

But I fail to discern an infinity key on my keyboard.

And we'll hang the jerk who invented work on the Big Rock Candy Mountain.

dynamite anthrax supreme court white house tea party jihad
======================================
West of 89
a novel of another america
https://www.smashwords.com/books/view/161155#longdescr

Plus Benefits?

?

Imagine if silver were

Imagine if silver were actually priced by the market, instead of having its price squashed by the Fed's activities.

Excellent argument.

Thanks for posting.

I like it.

I actually mentioned something similar in a previous post on my website. My figures were a little different (and I think silver was worth upwards of $30 at the time of writing): http://simplefactsplainarguments.blogspot.com/2013/02/minimu...

"UPDATE: If you want to understand what really hurts low-income workers, look at the value of our money. In 1956, the minimum wage was $1.00/hr. However, our coins (dimes, quarters, half-dollars and dollars) were still made with silver back then. For an 8-hour work day, a minimum wage worker in 1956 would earn 32 silver quarters. How much is that worth today? About $170. How much would a 2013 worker make with a minimum wage of $9/hour? $72. 'Nuff said."

Simple Facts and Plain Arguments
A common sense take on politics and current events.

www.simplefactsplainarguments.com