Seattle raises minimum wage to $15/hr

[nando]

how is the government printing more money? by making companies pay their employees? that money comes from their revenue, not from the government.

there's not actually any direct proof of what you've said, just the same classroom theory that's been repeated for the last 30 years. There will be more direct proof once this "experiment" starts. So far the last 30 years of economic theory has largely been a failure for everyone except the billionaires.

I don't see how the town is "protected" by anything. those businesses could just as easily close and move to the next town. instead it seems to be attracting more business, which is the opposite of what you say.

[The Dark Side of Will]

Inflation is the rise of prices and the reduction in purchasing power of money. If prices go up so business can pay their employees and artificial rather than market wage, that's inflation.

It just isn't captured in the CPI.

[nando]

who said there was inflation?

if wages rise faster than inflation, then what?

ever shop at walmart? ever notice how totally pathetic that place is, how miserable the workers are? The whole business is structured to vacuum up the money and send it straight to the top. you think they'll go broke if they have to give their employees an extra dollar, that they very well might spend in their own store?

the arguments against it are pretty weak..

[The Dark Side of Will]

http://www.addictinginfo.org/2014/09/14/15-now-seatac/

That's a nice opinion piece.

The hotel adding beds is a nice red herring.

LOL at the unsubtle implication that the airport expanding "proves" something about the minimum wage argument.

The planning and financing for that expansion have been underway for years.

[BraveUlysses]

addictinginfo is p terrible

[Dozyproductions]

how is the government printing more money? by making companies pay their employees? that money comes from their revenue, not from the government.

there's not actually any direct proof of what you've said, just the same classroom theory that's been repeated for the last 30 years. There will be more direct proof once this "experiment" starts. So far the last 30 years of economic theory has largely been a failure for everyone except the billionaires.

I don't see how the town is "protected" by anything. those businesses could just as easily close and move to the next town. instead it seems to be attracting more business, which is the opposite of what you say.

As I said, they're protected by this little bubble of an experiment. National minimum wage becomes 15 dollars and nothing and all the change for this town will go back to 0. There's still no proof that this little experiment will work on a national scale either so stop thinking that you've won. Yes there's proof that "the gubment" printing more money, so to say, with a little thing called inflation. Effect, shrinking of the middle class. You're not just going to have wages always keep up with that and why should they.

Sorry but classroom but you can't just deny classroom theory because it doesn't agree with what you think is correct. You've been seeing Keynesian style economics run amok for the last century and here how it shows its head.What's your solution? More Keynesian solutions. Wow, great. You create boogie and deny 'theory' but wages will not keep up with inflation unless there is an increase in production.

[nando]

paying your employees more has nothing to do with printing money. I just got a $2.75/hr raise, so did the government give me that or did my employer?

there's not much proof yet that it will work but there's plenty of proof that trickle down economics is a complete failure. just look outside..

[Dozyproductions]

paying your employees more has nothing to do with printing money. I just got a $2.75/hr raise, so did the government give me that or did my employer?

there's not much proof yet that it will work but there's plenty of proof that trickle down economics is a complete failure. just look outside..

Yes it does, Damn man just dust off your macroeconomics text book. Stop thinking about yourself and think in macro terms. I got sick so did everyone else get sick, dur ;) Never said trickle down economics work but then again trickle down economics in the true sense has never been implemented because, imo, we've never in our lifetimes have had a self correcting free economy.

[The Dark Side of Will]

paying your employees more has nothing to do with printing money. I just got a $2.75/hr raise, so did the government give me that or did my employer?

there's not much proof yet that it will work but there's plenty of proof that trickle down economics is a complete failure. just look outside..

Your employer did, but it has to either come out of their profit OR be reflected in higher prices on their end product.

What do we call a systemic rise in prices? Inflation.

Just because the Fed says inflation is low doesn't mean it actually is low. "Official" inflation only includes those items measured in the CPI.

However, that's hardly the only consideration about minimum wage. As we've said previously in this thread, if a business CAN be in a market profitably, they WILL be in the market profitably.

Critiquing WalMart's unenlightened management is not a argument for or against minimum wage. If anything WalMart is a self-proving indictment of principle/agent theory.

[Dozyproductions]

^ will have to agree with nando about business practices used by companies such as walmart. There is a point that they go too far with meeting the bottom line. In avoiding to have their minimum wage workers become full time workers, as everything currently sits, the public pics up the tab for the rest of their support. This isn't 1880 nor are we a 3rd world country.

[ParsedOut]

^ will have to agree with nando about business practices used by companies such as walmart. There is a point that they go too far with meeting the bottom line. In avoiding to have their minimum wage workers become full time workers, as everything currently sits, the public pics up the tab for the rest of their support. This isn't 1880 nor are we a 3rd world country.

These workers aren't slaves either, they can choose to go work for another employer and/or choose to grow their skill set to make more money.

[nando]

you say that like it's so easy. yet here we are, the richest country on earth with some of the worst poverty among the industrialized nations..

[Dozyproductions]

These workers aren't slaves either, they can choose to go work for another employer and/or choose to grow their skill set to make more money.

Jestes prawda

[mrsleeve]

you say that like it's so easy. yet here we are, the richest country on earth with some of the worst poverty among the industrialized nations..

yet our poorest of the poor are among the top 20% of wealthiest on the planet . All in what you compare it too

[ParsedOut]

you say that like it's so easy. yet here we are, the richest country on earth with some of the worst poverty among the industrialized nations..

I didn't say it was easy, did you see me use the words "just or simply"? Making more money should be difficult, it's called going to WORK for a reason. You act like these workers are sentenced to work for pennies a day without any other options.