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“job Creators” is a deceptive misnomer for the extravagantly wealthy
Posted: 07 April 2014 04:16 AM   [ Ignore ]   [ # 16 ]
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TimB - 01 April 2014 04:11 PM

Low income persons are disproportionately effected by price increases in essential goods and services, e.g., housing, utilities, food, medical care.  If they suddenly, as a group, got more income, the providers of essential goods and services might well exploit this, if they could get away with it. 

Always those who are proficient at using the tools of capitalism, and who have no qualms about exploiting others, will take advantage of the unwary.  I wonder whether we should add “conniving capitalism” as a core course in elementary school, so that most people would be on an equal footing.  So the schools would first teach reading, word processing, arithmetic, and conniving capitalism.

I love it!

Lois

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Posted: 07 April 2014 04:31 AM   [ Ignore ]   [ # 17 ]
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It wasn’t in the curriculum, but my 7th grade teacher had an “open discussion” about the different forms of economies, socialism, communism, etc. I put it in quotes because what he actually did was mock anyone who said anything good about anything other than capitalism.

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Posted: 07 April 2014 08:07 AM   [ Ignore ]   [ # 18 ]
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FinallyDecided - 01 April 2014 05:05 AM

I would appreciate thoughts & insight on the following:

Of course I am an advocate for raising the minimum wage as it not only will help those individuals and families who receive it, I believe it could help our stagnant economy (especially for a great jumpstart that would last a year or two). However, I am a cynic the fact that I think minimum wage increases may be taken advantage….

I think this is answered in TimB’s responses above this question on Mar 31. The problem is that the minimum wage has not kept pace with inflation, so income is trailing costs. The advantage is to the current employers who can pay what the market is currently allowing. Raising wages shouldn’t inflate the economy because it is not money being created out of nothing, only distributed to people who are contributing. It will allow people to take care of themselves, go to the doctor, exercise, take a night class, read a book. All of that contributes back to that same economy. 

The market isn’t perfect, but it does better at weeding out a few predatory landlords than it does stabilizing a society against the concentration of wealth.

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Posted: 08 April 2014 05:18 AM   [ Ignore ]   [ # 19 ]
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Just found out, here in Maryland, we’re awaiting the Gov. to sign the bill increasing the minimum wage to $10.10 per hour HOWEVER, to be incremental and not fully implemented until 2018! To me, if it is going to be of maximum value, it needs to happen faster. Originally, they were proposing 2016. By 2018, the cost of living will have increased and $10.10 will not be as attractive. I understand businesses need the opportunity to adjust, but July of 2018 is just too far. I can’t say I am satisfied with that timeframe. Is this unreasonable? Of course families will benefit if implemented sooner or later but also families will be able to crawl out of debt, become more independent or spend on other necessary items—this would help the economy.

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Posted: 08 April 2014 08:37 AM   [ Ignore ]   [ # 20 ]
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FinallyDecided - 08 April 2014 05:18 AM

Just found out, here in Maryland, we’re awaiting the Gov. to sign the bill increasing the minimum wage to $10.10 per hour HOWEVER, to be incremental and not fully implemented until 2018! To me, if it is going to be of maximum value, it needs to happen faster. Originally, they were proposing 2016. By 2018, the cost of living will have increased and $10.10 will not be as attractive. I understand businesses need the opportunity to adjust, but July of 2018 is just too far. I can’t say I am satisfied with that timeframe. Is this unreasonable? Of course families will benefit if implemented sooner or later but also families will be able to crawl out of debt, become more independent or spend on other necessary items—this would help the economy.

By the time 2018 rolls around there will be a need to increase the minimum wage again.

Lois

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Posted: 08 April 2014 12:14 PM   [ Ignore ]   [ # 21 ]
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Did anyone read Krugman’s piece the other day about wages/inflation?
I believe it was entitled “Oligarchs and Money”.
Oligarchs and Money

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Posted: 08 April 2014 12:26 PM   [ Ignore ]   [ # 22 ]
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VYAZMA - 08 April 2014 12:14 PM

Did anyone read Krugman’s piece the other day about wages/inflation?
I believe it was entitled “Oligarchs and Money”.
Oligarchs and Money

Makes sense.

And behind this attitude, one suspects, lies class bias. Doing what America did after World War II — using low interest rates and inflation to erode the debt burden — is often referred to as “financial repression,” which sounds bad. But who wouldn’t prefer modest inflation and a bit of asset erosion to mass unemployment? Well, you know who: the 0.1 percent, who receive “only” 4 percent of wages but account for more than 20 percent of total wealth. Modestly higher inflation, say 4 percent, would be good for the vast majority of people, but it would be bad for the superelite. And guess who gets to define conventional wisdom.

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Posted: 08 April 2014 12:47 PM   [ Ignore ]   [ # 23 ]
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FinallyDecided - 08 April 2014 05:18 AM

Just found out, here in Maryland, we’re awaiting the Gov. to sign the bill increasing the minimum wage to $10.10 per hour HOWEVER, to be incremental and not fully implemented until 2018! To me, if it is going to be of maximum value, it needs to happen faster. Originally, they were proposing 2016. By 2018, the cost of living will have increased and $10.10 will not be as attractive. I understand businesses need the opportunity to adjust, but July of 2018 is just too far. I can’t say I am satisfied with that timeframe. Is this unreasonable? Of course families will benefit if implemented sooner or later but also families will be able to crawl out of debt, become more independent or spend on other necessary items—this would help the economy.

That’s what I love! 
If I met someone(between the ages of 18-69) on the street and offered to pay them $10.10 to sit on a park bench for one hour
and play with a yo-yo how many people do think would actually do this?
I say almost no one.

Certainly if I said to that person,“Hey come to a warehouse and stack boxes for 1 hour and I will give you $10.10.”
Who would do it? No one!

The trick is that people stack these hours together in a shift and it seems like you made some money at the end of the week.
The idea of their time being traded in 1 hour increments for $10 is lost to them.

The idea that their time is more valuable than $10/hour is lost to them.

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Posted: 08 April 2014 05:19 PM   [ Ignore ]   [ # 24 ]
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VYAZMA - 08 April 2014 12:14 PM

Did anyone read Krugman’s piece the other day about wages/inflation?
I believe it was entitled “Oligarchs and Money”.
Oligarchs and Money

Another voice of sanity, crying out in the wilderness.

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As a fabrication of our own consciousness, our assignations of meaning are no less “real”, but since humans and the fabrications of our consciousness are routinely fraught with error, it makes sense, to me, to, sometimes, question such fabrications.

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Posted: 10 April 2014 05:19 PM   [ Ignore ]   [ # 25 ]
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http://www.slate.com/articles/business/moneybox/2014/04/walmart_living_wage_if_the_company_paid_its_employees_more_how_much_would.html
Here’s a short video on the math of increasing wages. It says if WalMart increased their wages for cashiers from $8.80 to $13, it would increase their costs by 1.4% That seems low even for something on the scale of WalMart. Places like small restaurants run upwards of 10 to 20% labor so the increase would hit them harder. But you’re still increasing wages far beyond the affect on prices, bringing wages in line with current COL, so you’d be bringing more money into circulation and increasing the overall health of the economy.

[ Edited: 11 April 2014 05:30 AM by Lausten ]
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Posted: 10 April 2014 06:03 PM   [ Ignore ]   [ # 26 ]
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Lausten, can you change the link you cited on the walmart article to “here” or something shorter than the link as it stands ?  As it is, it is so long, that it expands the margins for all posts, making them more difficult to read.

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As a fabrication of our own consciousness, our assignations of meaning are no less “real”, but since humans and the fabrications of our consciousness are routinely fraught with error, it makes sense, to me, to, sometimes, question such fabrications.

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Posted: 10 April 2014 07:32 PM   [ Ignore ]   [ # 27 ]
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Job Cretor? There is no such occupation, organization or indevidual. It is just one the “creations” politicians evoke and define for us that produces the intended reaction from us.  Words like capitalism, socialism, communism, freedom, liberty, entrepreneur, statesman, liberal, conservative, savior, and god are all defined for us and used to enfluence us in predictable ways. None of these words is intrinsically good or bad, righteous or evil. We need to take these words away from the control of the politicians and impose our own definitions and question the politicians accordingly when they use them.

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“expectation is the mother of disappointment”

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Posted: 11 April 2014 05:28 AM   [ Ignore ]   [ # 28 ]
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VYAZMA: at my first corporate job, we were provided a lump sum of 15 total days leave, to be used for sick leave, personal days & vacation. It was not acrual basis as in most places. So, if you gave resignation notice (i.e. written notice you plan to leave in 3 months, for example, your “leave” benefit was taken away immediately as the company said it was not acural based (i.e. most employer have a system in place where you build up leave based on time worked; for example, now where I work I receive 4 hours of paid leave time per pay period, which is every two weeks) and it is considered “earned” and cannot be taken away. Anyway, back to my initial point, most employees would get smart and just take any remaining leave THEN turn in their resignation letter…when employers treat employees poorly, employees learn ways to be not so nice in return! It was essentially tantamount to state: “you didn’t earn this, we’re giving it to you.” I think it was part of a scheme to paint a culture where employees feel like the employer (CEO) was a parent taking care of us all and we are equal people working in collaboration.

[ Edited: 11 April 2014 05:32 AM by FinallyDecided ]
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