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HUFFPOST SUPER USER
Angie Daniels
PFLAG and dog rescuer.
07:27 PM on 03/21/2013
In my metro area, Starbucks starts at $12/hour. Any CEO who does that is of course going to support raising the minimum since they already pay above it anyway. (not that I'm complaining... but stating that this is not particularly surprising).
07:21 PM on 03/21/2013
Great HBO Doc about this American Winter
A must watch for everyone puts a human face to the actual crisis
07:09 PM on 03/21/2013
I'm glad Howard Schultz is in favor since wall street came out and disclosed he received over 25 million dollars in salary and bonus last year.

Everthing has been streamlined so much that now the only way companies can increase profits is cut benifits and wages to its workers and by doing so the executives get a bonus for cutting costs. Gotta love America.
07:08 PM on 03/21/2013
So sick of the hiring argument.
Again record profits for corporations the last three years so why didn’t they hire more people?
More people on public assistance then before. That thinking is as old and full of bull as the trickledown effect. Rich are richer middle class is poorer
The success of a country can be contributed to a large and healthy middle class. If you cared about your workers or your country you would do the right thing and quite whining that you won’t be able to make it. So outdated and selfish. Nobody wants a handout people want to work and be successful.
07:33 PM on 03/21/2013
It seems they have conditioned people to think they need to do the work with less people for less money. But at the same time corporations are making profits at an all time high. Plus add to it those same companies making all those profits, are also not paying much or any taxes on those profits. Is any part of this smell like greed to you, It does to me.
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HUFFPOST SUPER USER
ladcrptwo
07:04 PM on 03/21/2013
MINIMUM WAGE LESSON
====================

Let's look at an example:

You are a lemonade stand entrepreneur. You own a single lemonade stand that is open for 10 hours a day and you employ 1 minimum wage employee.

You charge $2.00 per cup of lemonade and on an average day you sell 100 cups of lemonade.

Your Revenue per day is $200.00

Your Costs are Labor $ 72.50
& Supplies $ 17.50
======
Profit $110.00 Not Bad!!!
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Let's say you need to adapt to the new minimum wage of $9.00

All things remaining the same

Your Revenue per day is $200.00

Your new Labor Costs are $ 90.00
& Supplies $ 17.50
======
Profit $ 92.50 STILL Not Bad!!!
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HUFFPOST SUPER USER
stir crazy 777
Joe Bageant - Redneck Poet
07:21 PM on 03/21/2013
can we earn xtra credit? :)
This user has chosen to opt out of the Badges program
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theshadowdo
who knows what evil lurks in the hearts of men?
08:11 PM on 03/21/2013
think of it this way

In 1942, 2 eggs, hash browns and toast cost $1.00 - wages were .25 per hour.

Today the same meal would cost 5-8 dollars more. Why? Same size eggs, toast and hash browns - these prices are population and corporate driven. It is called inflation but rarely affects only one segment of the population.
08:56 PM on 03/21/2013
So you're saying to eat breakfast you had to work 4 hrs?
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HUFFPOST SUPER USER
ladcrptwo
07:04 PM on 03/21/2013
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If you are a petulant brat of an owner you could fire your employee. That would lower your labor costs from $72.50 to $0.00. Of course it would also lower your revenue from $200.00 to $0.00.

Seems pretty clear to me that the wiser course would be to pay your employee the $9.00 per hour and earn your $92.50 Daily Profit.

----------------------------------------------------------------------------

The fact is that not all things remain the same. The fact is that if you implement a 24% increase in minimum wage you will be increasing aggregate demand in the market that you are selling your lemonade. If it is a perfectly elastic market aggregate demand would rise 24%. But it is NOT a perfectly elastic market. Let's say for example that aggregate demand rises by 10%.

That means that Lemonade sales would rise from 100 cups to 110 cups.

That means that your new Daily Revenue would be $220.00
Your Labor Costs would be $ 90.00
Your modified Supply Costs would be $ 19.25

That means that your profit level under the $9.00 minimum wage is: $110.75

How about that? That onerous increase in the MINIMUM WAGE has cost you NOTHING. It has resulted in a modest increase in profit from $110.00 to $110.75.

So, shut the he)) up and raise your employees' wages.
HUFFPOST SUPER USER
Ceiba81
07:03 PM on 03/21/2013
Why doesn't Howie voluntarily raise the hourly wage for his workers. O raised taxes in January that hit minimum wage workers pretty hard. So they raise the minimum wage and O raises the taxes again on top of ObomiNaiton care taxes. Who does he think he is fooling. No one is going to get ahead with this guy in the WH.
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freeSpeakr
I stand on the shoulders of giants
07:24 PM on 03/21/2013
Obama is owned by the same folk that own and control the Republicans and the Tea Party Republicans. America is a fake democracy and the Citizens are just waking up to that.

Citizens too big to jail. Corps too big to fail. Conclusion: Not a nation, just the illusion of one.
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HUFFPOST SUPER USER
srchr
07:40 PM on 03/21/2013
Taxes weren't "raised" in January, the temporary break on the payroll tax expired.
08:04 PM on 03/21/2013
Funny how facts confuse them so easily.
08:55 PM on 03/21/2013
They were raised for my income bracket.
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HUFFPOST SUPER USER
dianaghughes
06:57 PM on 03/21/2013
By the way, doesn't anybody understand that if the minimum wage was higher, people would be able buy food, pay for medical care, pay more taxes, invest more and, of course, buy more which increases demand, increases production and increases business profits. At the same time, as people are able to pay more of their fair share of our country's taxes (increase taxes to the gov't -- local, city, county, fed), they will NOT be in need of assistance from the gov't (reduce outflow from the gov't -- food stamps, welfare, medicaid). It makes sooooooo much sense!!
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HUFFPOST SUPER USER
Craigers61
08:20 PM on 03/21/2013
That is the false illusion of monetary theory that hasn’t worked since 1913. As you increase all wages all prices and costs throughout the economy also increase. Your wage may go to others when you spend, but you are looking at only the spending side and not looking at what Bastiat called the unseen. My wage and your wage and everyone’s wage are also a cost which must be passed on to all consumers. So my wage hike causes a price increase as does your wage hike and everyone else’s as well. I can’t spend more or save more etc. as I now have to budget for higher prices and costs in the economy. Also this wage push inflation causes the value of my dollar to drop as well, so my wage hike is eroded away by inflationary effects. My employer may see his profits increase but he also saw his labor costs also increase greatly as well as the overall cost of production.

There is no utopia, and you cannot do math without balancing both sides of the equation.
09:15 PM on 03/21/2013
The myth is that the cost of doing business has to be passed onto the consumer. Why? So the CEO can keep his 50% profit margin? That makes no sense at all. The corporations have gotten rich off working their employees harder and paying them less. Throughout this so called recession, they, and they alone have done well. Now, as good, conscientious Americans, why not realize the better the American economy is, the better it is for all.

Instead we are stuck with the Koch Brothers philosophy of taking everything you can and to hell with everybody else. Pollute the waters? Who cares. Climate change? Deny it. Raise minimum wage? They want to lower it.
08:37 PM on 03/21/2013
In that case why not make minimum wage $100??
06:55 PM on 03/21/2013
Nobody is stopping you from paying more.
07:02 PM on 03/21/2013
We are all paying more when they don't pay a wage that can support a family.
07:07 PM on 03/21/2013
Taxes, especially payroll taxes, do more to undermine the financial health of families than the minimum wage does to help it.
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HUFFPOST SUPER USER
Craigers61
08:26 PM on 03/21/2013
If I wave a magic wand and give everyone a $100 an hour wage did I improve everyone’s condition? Think hard. The answer is no I did not. Real wage rates are based on economic productivity, as the economy becomes more productive wage rates naturally rise. If I artificially try to raise wage rates I cause inflationary push effects that erode the wage hike. If I force the producer to pay wage rates above the market rate of labor I also rob capital formation and cause greater unemployment. I do not help the worker by artificial means, I only help the by going with the natural evolutionary process of the economy which brings down all prices 3% to 4% a year. Without inflation you would see your wage rate naturally rise 40% a decade. As long as they can get you to advocate the wrong solution they will gain huge profits.
07:07 PM on 03/21/2013
We sure have lots who want to pay less.
07:11 PM on 03/21/2013
So?
06:51 PM on 03/21/2013
They need to raise the minimum wage. Lower paid employees is like a tax break for the corporations. Just think about this a minute. You hire people at minimum wage limit now. Everyone knows that it isn't enought to support a single person much less a family so the rest of us provide a social network for the low paid workers. Goverment subsidies to the person so they don't starve. So for everyone person that works and only makes minimum wage we support. So why not make the companies pay enough so the government doesn't have to?

With records profits the last three years for the corporations and record numbers of workers on public assistance is out of balance and needs to be changed
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Jimtoday
Son. Brother. Hell's Kitchen Progressive.
06:50 PM on 03/21/2013
"because while boosting it would mean higher wages for workers, it may also discourage businesses from hiring more people."

Except that has never happened so far historically. Why do people refuse to let go of fact-free notions?
07:11 PM on 03/21/2013
Don't believe that I live in a state that has one of the highest MW and we still have Mcdonalds. In fact we are trying to get a bill passed that would require employeers to provide 40 hours paid sick leave to every employee. And I don't see any companies shutting down
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HUFFPOST SUPER USER
Craigers61
08:37 PM on 03/21/2013
McDonalds will survive, how many mom and pop joints are left or will be left? Here is a fun filled fact. If I have a real inflation rate of 5% a year, the real wage rate is lowered 5%. In 10 years the real wage rate has dropped 50%. If during that time I only raised the MW 20% I am still way below the market rate of labor and therefore have no huge unemployment effects. If I go from $8.95 to $10.00 I have only raised the MW 11.73% yet the dollar has lost over 25% of its value since 08. Now do this constantly for 70 years and then you understand why we have such a problem. The dollar has lost 2,500% since 1913 and the MW rate has nowhere kept up. Trying to raise the wage rate to get to a “living wage” is like trying to raise yourself off the floor by pulling on your boot flaps while your boots are nailed to the floor, any upward movement you get brings the floor with you every time.
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gratnam
Expand your mind until it hurts
07:53 PM on 03/21/2013
It's right up there with that fabulous trickle down economic theory. And the right aren't bothered by facts...they just ignore them, remember?
06:49 PM on 03/21/2013
Minimum wages just contribute to poverty, need to expand current Living Wage Laws.
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HUFFPOST SUPER USER
gtoya1331
I can't understand it FOR you
06:49 PM on 03/21/2013
politicians are arguing for and against raising the min wage to $9.00 hourly...NINE DOLLARS AN HOUR...before deductions that's $360 wkly, $1560 monthly, $18720 annually -- this is what politicians are arguing about...then they argue about the additional assistance needed by a family barely surviving on this amount of money...twisted, seriously twisted
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HUFFPOST SUPER USER
ladcrptwo
06:47 PM on 03/21/2013
When Henry Ford started his factory for Model Ts in the early part of the 20th Century. He paid his employees $5 bucks per day. That was when the general wage for auto workers was $2.25 per day. The experts screamed that his factory would die and that other factories in Detroit would be destroyed. Exactly THE OPPOSITE occurred.
07:05 PM on 03/21/2013
Starbucks doesn't build cars. They serve over priced coffee that their employees can't afford.
07:39 PM on 03/21/2013
No that's not true, they get their coffee for free. They get a free bad of coffee every month. Also provides healthcare for even part time employees, who else does that?
Does Walmart? Not hardly.
07:06 PM on 03/21/2013
One other thing about Henry Ford, he despised credit, But allowed his workers to put cars on a layaway program. Fast forward many years, Ford Motor Company makes 34% of profits from the credit industry within their company.

PS, Your right about the higher wages, he wanted them to be able to buy his cars. What a novel idea, employees who can afford what they make or sell.
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HUFFPOST SUPER USER
ladcrptwo
06:46 PM on 03/21/2013
In a perfectly elastic market, Consumer Demand would rise by 203%.

In a market that caused jobs to be lost by 25% (a ridiculously large amount) Consumer Demand would still increase by 150%. Ask any business if they would like consumer demand to rise by 150%. That would be a resounding YES!

When Henry Ford started his factory for Model Ts in the early part of the 20th Century. He paid his employees $5 bucks per day. That was when the general wage for auto workers was $2.25 per day. The experts screamed that his factory would die and that other factories in Detroit would be destroyed. Exactly THE OPPOSITE occurred.
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HUFFPOST SUPER USER
ladcrptwo
06:53 PM on 03/21/2013
This is based on a min wage of $22.
08:41 PM on 03/21/2013
Help me imagine the inflation that would occur if minimum wage was $22....
08:44 PM on 03/21/2013
And what about compression? Do those currently making $12 or $15 or $20, just bump up to $22? After decades with the same company? In management positions? They suddenly become minimum wage workers?