If raising minimum wage will kill businesses and and increase inflation, then wouldn't reducing the earnings of the people at the top of corporations have the opposite effect?
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SQUEEKY2 (
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)
January 15th, 2016
I mean if goods and services have to go up if minimum wage increases, then wouldn’t those same goods and services come down, if the top took a hit in their earnings?
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In my opinion, that’s where the money should come from. But that’s a socialist idea, and the USA is too capitalist for it.
Watch your comma use, please.
It’s a complicated economic argument, but in short, the answer to the question is “no.”
It won’t because they won’t lower the price, they will just put the money into profit.
I don’t think anyone can effectively argue that corporate wages at the top are not too high.
But the top officers control the companies that determine their pay.
Nice work if you can get it.
Well, your premise is flawed, since raising the minimum wage doesn’t kill business or raise inflation. So cutting the salaries of the top doesn’t have an opposite effect.
I am not at all an advocate for the current inequality from the bottom to the top. But the premise you base your theorem upon is as flawed as the internet meme of “cut salaries of every politician and give it to servicemen”. You can cut the salaries in half of every one in the House, the Senate, and the Executive branch, including Cabinet Secretaries (a total of less than 600 people) and give it to every service man equally, and it would raise the annual pay of said serviceman by about the amount of a coffee from Starbucks.
The increase at the top has caused wealth disparity in the US unlike any other supposedly first-rank country.
It shows.
We have more poverty, less education, and worse healthcare than all the actual first world nations.
There is a whole lot of wiggling involved whenever this obviously simple observation is made, and the coincidence that arguments against a minimum wage are ALWAYS more strident from the recipients of those inflated salaries is worthy of note.
It’s really important that this disparity is hammered on because it is the one fact intellectually accessible to our “low information” electorate, the majority of which are being reduced to crumbs as the rich fatten up. Those raking in the wealth are fully aware of the implications involved with feasting at the expense of those who do the work yet outnumber them 99 to one at the polls. Thus the argument that the increasingly obscene disparity in wages is “market driven” and shouldn’t be messed with because our success, freedom and greatness as a nation is somehow based on it. Notice how that “market driven” thing absolves those on the receiving end of the river of wealth from any responsibility. They themselves (we are told) have nothing to do with how the pie is split up. The fact that plutocrats appear to enlarge themselves at the expense of those doing the work isn’t a crime because “the market did it”.
@zenvelo It isn’t my premise that is flawed, that is what just about every right wing die hard conservative scream when we talk about raising the minimum wage, they wouldn’t be lying to us now would they?
@SQUEEKY2 yep, it’s called denial in the face of evidence.
No, the minimum wage has no effect on jobs.
Where is it stated that it will increase to $15 over night??
I have seen where $15 is the target but it will take several years to achieve it,as it is supposed to be done in increments not a huge jump over night.
The thing is, @SQUEEKY2, $15 isn’t a living wage in parts of the US.
As soon as $15 is achieved, $20 will be requested because places like NYC and LA have an astronomical cost of living.
I actually think Canada is doing a better job, leaving it to the states – Canada’s minimum seems to be considerably higher than the US.
Yeah but B.C’s minimum wage doesn’t cut it in places like Vancouver either, or Ontario’s considering the cost of living in Toronto.
Then Vancouver and Toronto have to raise the minimum there, in that city.
Precisely what NYC and LA are doing, because the minimum for the rest of the state will never be enough in the huge cities.
Exactly the flaw in minimum wage – the broader the area (country, state, county, city) it’s applied over, the less effective it becomes.
Canada looks to me to be managing better than the US since Canada gave up on the country-wide minimum.
No. Whatever amount of money was not distributed at the very top would still be distributed at the top, only to a few more people. Only shit runs downhill.
@ibstubro They probably have a tighter labor market which drives up wages.
Did anyone notice that the story decrying the shutting down of BORDERLANDS (a real treasure for anyone interested in Science Fiction) neglects to mention what’s happening to the store’s rent on Valencia street, in a former sleepy
Ethnic Latino neighborhood now yupped up and gentrified beyond belief. It may appear that the $15 minimum wage is responsible for the demise of Borderlands, but the truth is that it is the inflated and insane real estate market that forces both the necessity for elevating wages and the demise of hundreds of marginal businesses that were the glory of this town. And no business on earth better fits the description “marginal” than your neighborhood book store. San Francisco was a book junky’s paradise, and so many great and wonderful bookstores have vanished from the town that I can no longer keep track.
The good news is that borderlands is still open because of private donations.
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