Min wage, that was then, this is now...now is different from then

[smartjuanxxx]

HOW?

https://pbs.twimg.com/media/CeLhq3rW0AAvjRf.jpg

 

[BotanyBoy]

Why so upset another economist is leaving the Ayn Rand camp of 'fuck people' economics?

 

[dan_c00000]

How dare someone change their mind based on research and evidence! A teahadist NEVER changes their mind because being swayed but "facts" is for liberal pinkos!

Personal experiences: my mind was strongly changed by the empirical work on minimum wages that started with Card and Krueger; a summary and further evidence is here. I used to be a very conventional, Econ 101 person on this subject, figuring that the labor market would work like any market with a price floor. But the accumulation of evidence when some states raised minimum wages while neighbors didn’t — a classic natural experiment — made it clear that at least for the US, at current minimums, there is little or not negative effect on employment.

 

[smartjuanxxx]

Bee Ess

 

[Raziel83]

Scientists, researchers and basically anyone who isn't a fanatic will change their minds if they find out that they were wrong.

At some point that guy believed that higher wages were a bad thing but now he has found enough evidence to the contrary to change his mind, simple as that.

 

[RUlookingup]

Scientists, researchers and basically anyone who isn't a fanatic will change their minds if they find out that they were wrong.

At some point that guy believed that higher wages were a bad thing but now he has found enough evidence to the contrary to change his mind, simple as that.

So you are saying there is hope for Renaud, the pilot and Zumi and a few others here. It isn't a lifetime affliction?

 

[smartjuanxxx]

Scientists, researchers and basically anyone who isn't a fanatic will change their minds if they find out that they were wrong.

At some point that guy believed that higher wages were a bad thing but now he has found enough evidence to the contrary to change his mind, simple as that.

true

but its POLITICAL why he changed his mind


he also BASHED Bush 2001-2008 for DEBT and DEFICIT and says DEBT and DEFICIT mean NOTHING under Obama

when "changing" a mind is based on WHO HE IS FOR or AGAINST, its BS

 

[dan_c00000]

but its POLITICAL why he changed his mind


its BS

1. Read this post to see it wasn't political.

2. In 1998 Bill Clinton was President so it has nothing to do with Bush.

3. Learn how to use "it's" properly busy body.

https://qph.is.quoracdn.net/main-qimg-c372e905a79acde517e35d1f7720e2fb?convert_to_webp=true

 

[smartjuanxxx]

http://4.bp.blogspot.com/-Tp73qseKdiY/VCJY54VVFqI/AAAAAAABHjE/HacZixlxLeQ/s1600/clinton%2Bon%2Bminimum%2Bwage.png

phased

NOT DOUBLE

ergo, POLITICAL

 

[BotanyBoy]

phased

NOT DOUBLE

ergo, POLITICAL

We haven't phased in 20 years....Reaganomics was bullshit and the tickle down never happened, now we are at the doubling point just to get above water.

ergo, fact

 

[Boxlicker101]

We haven't phased in 20 years....Reaganomics was bullshit and the tickle down never happened, now we are at the doubling point just to get above water.

ergo, fact

The minimum wage has been increased several times since 1996. http://www.thedigeratilife.com/blog/federal-minimum-wage-history/

 

[BotanyBoy]

The minimum wage has been increased several times since 1996. http://www.thedigeratilife.com/blog/federal-minimum-wage-history/

Not even close to enough.

Like I said we didn't phase up to 18-20/hr min wage now did we?

Which is where min wage would need to be right now to have the same buying power 2/hr did in 76' or 3/hr did in 90'.

Reaganomics didn't work out.....there is no trickle down coming, we have to catch up and it's going to take more than 14 cents a year.

 

[smartjuanxxx]

We haven't phased in 20 years....Reaganomics was bullshit and the tickle down never happened, now we are at the doubling point just to get above water.

ergo, fact

 

[BotanyBoy]

Roll em' all yew juant baby...proof is in the pudding.

If Reagan was right we wouldn't have so many people pissed the fuck off about how god damn broke they are.

 

[smartjuanxxx]

Roll em' all yew juant baby...proof is in the pudding.

If Reagan was right we wouldn't have so many people pissed the fuck off about how god damn broke they are.

 

[Raziel83]

Reaganomics didn't work out.....there is no trickle down coming, we have to catch up and it's going to take more than 14 cents a year.

Trickle down is such a bullshit and I hate that some of our politicians are now trying to cut our social security in favour of trickle down theory...

Thanks a lot USA.

 

[BotanyBoy]

 

[smartjuanxxx]

 

[NeonSubtlety]

I don't believe it's an outlier that Washington state has the fastest growing economy of any state since instituting a $15 minimum wage. Correlation doesn't equal causation. But, at the very least, we can see that a higher minimum wage is not detrimental to the potential of a state's economy.

 

[someoneyouknow]

This wonderful graph and analysis by the Pew Research Center, the gold standard for surveys and such, shows real wages, adjusted for inflation, are the same as they were 25+ years ago.

If trickle down had ever worked this graph would not exist.

http://www.pewresearch.org/fact-tank/2014/10/09/for-most-workers-real-wages-have-barely-budged-for-decades/

But let's ask Kansas how it's making out using trickle down. Kansas, how're things going?

*cough* *cough* Great! Just great *cough* *hack!* We're rolling in money. So much so we can cut back on what we spend on road repairs, schools, and pretty much every other vital service. *hooorf!*

Never felt better.

http://www.kansas.com/news/politics-government/article4382802.html

https://newrepublic.com/article/121068/kansas-tax-cuts-deplete-budget-brownback-proposes-more-cuts

 

[JackLuis]

A bit dated, but indicative of the issue is this chart showing actual wage and adjusted for inflation.

Real wage peaked in 1968 at $1.60 = $10.86 in 2015$. Ever since then there has been no reason for our overlords to raise real wages.

 

[Boxlicker101]

I don't believe it's an outlier that Washington state has the fastest growing economy of any state since instituting a $15 minimum wage. Correlation doesn't equal causation. But, at the very least, we can see that a higher minimum wage is not detrimental to the potential of a state's economy.

Can you prove what you are claiming? How do you know it's not the result of legalized MJ?

 

[JackLuis]

Can you prove what you are claiming? How do you know it's not the result of legalized MJ?

Are you suggesting that the unemployed are selling pot to pay their taxes, etc? If all the unemployed were selling pot the price would be driven down to where everyone could afford it.

 

[Ulaven_Demorte]

Are you suggesting that the unemployed are selling pot to pay their taxes, etc? If all the unemployed were selling pot the price would be driven down to where everyone could afford it.

Box isn't very bright. While legalization of marijuana may have increased taxes collected by Washington and Colorado, it would have little to nothing to do with their overall economic growth.

You might as well try to explain rocket science to a chicken, or try to teach a pig to dance.

 

[Boxlicker101]

Are you suggesting that the unemployed are selling pot to pay their taxes, etc? If all the unemployed were selling pot the price would be driven down to where everyone could afford it.

No. Mostly I am asking if another poster can prove this:

Originally Posted by NeonSubtlety View Post

I don't believe it's an outlier that Washington state has the fastest growing economy of any state since instituting a $15 minimum wage. Correlation doesn't equal causation. But, at the very least, we can see that a higher minimum wage is not detrimental to the potential of a state's economy.

I seem to recall the opposite being true.