increase mw boost ecomony

increase mw boost ecomony

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Plain facts

Grayson, KY

#1 Feb 11, 2014
The Most Rigorous Research Shows Minimum Wage Increases Do Not Reduce Employment
The opinion of the economics profession on the impact of the minimum wage has shifted significantly over the past fifteen years. Today, the most rigorous research shows little evidence of job reductions from a higher minimum wage. Indicative is a 2013 survey by the University of Chicago’s Booth School of Business in which leading economists agreed by a nearly 4 to 1 margin that the benefits of raising and indexing the minimum wage outweigh the costs.
This page reviews the most widely-cited and influential studies on the impact of minimum wage increases on employment, and examines the primary reasons why low-wage employers can afford higher wages today.Why Do Minimum Wage Increases Not Reduce Employment?
#1) The vast majority of low-wage workers are employed by large corporations, not small businesses:
Study: Big Business, Corporate Profits, and the Minimum Wage (2012)
Summary: An analysis of Census Bureau data finds that roughly two thirds (66 percent) of low-wage workers are employed by large companies with over 100 employees, not small businesses. Furthermore, the largest low-wage employers – including retail and fast food chains such as Walmart and McDonalds – are earning strong profits today and can afford higher wages.
Source: Doucougliagos and Stanely,“Publication Selection Bias in Minimum Wage Research
Study: Why Does the Minimum Wage Have No Discernible Effect on Employment?(2013)

Paul Krugman, Princeton University, February 2013:“Now, you might argue that even if the current minimum wage seems low, raising it would cost jobs. But there’s evidence on that question — lots and lots of evidence, because the minimum wage is one of the most studied issues in all of economics. U.S. experience, it turns out, offers many ‘natural experiments’ here, in which one state raises its minimum wage while others do not. And while there are dissenters, as there always are, the great preponderance of the evidence from these natural experiments points to little if any negative effect of minimum wage increases on employment.”(Source)
Bloomberg News, April 2012: "[A] wave of new economic research is disproving those arguments about job losses and youth employment. Previous studies tended not to control for regional economic trends that were already affecting employment levels, such as a manufacturing-dependent state that was shedding jobs. The new research looks at micro-level employment patterns for a more accurate employment picture. The studies find minimum-wage increases even provide an economic boost, albeit a small one, as strapped workers immediately spend their raises.”(Source)
In Focus: Two Leading Studies on Minimum Wage and Job Growth
Study: Do Minimum Wages Really Reduce Teen Employment?(2011)
Summary: Examines every minimum wage increase in the United States over the past two decades—including increases that took place during protracted periods of high unemployment—and finds that raising the wage floor boosted incomes without reducing employment or slowing job creation. The research demonstrates how a body of previous research—one frequently relied on by business lobbyists who oppose minimum wage increases—inaccurately attributes declines in employment to increases in the minimum wage by failing to sufficiently account for critical economic factors.[NELP Summary]
Study: Minimum Wage Effects Across State Borders (2010)
Wisdom

Latonia, KY

#2 Feb 11, 2014
Another dolt who thinks life occurs in a vacuum....Minimum wage increases leads to higher end product prices, less consumption from the public, lower sales, less employees, fewer hours.

THEN ADD OBAMACARE EMPLOYER MANDATE- more employer costs, higher end price on products, lower consumption, less employees, less hours.

Thank god, Obama is liberating folks from their jobs to have more leisure time. Just let the other workers pick up the tab for your subsidies.
get for real

Grayson, KY

#3 Feb 11, 2014
You are right,but the poor are so selfish;they want that measly $3 raise even though it will not lift them out of poverty. And just like aka said,his kids making $100,000 a year will have to pay more for everything. Life sucks just not fair . Just how much of this can those undermining minimum wage folk think we wealthy can handle? It is just not fair I tell you, not fair ,not fair.Why can't the poor just keep working for $7.35 ? They have for years ,why start now asking for us to vote that they get a $3 raise. Three dollars is nothing I tell them nothing. Yet I find myself crying over it every day. and I see you & aka do also.
Wisdom

Latonia, KY

#5 Feb 12, 2014
What have you done to improve yourself, or talents to justify a raise? Merely willing to accept more as a form of political payoff, or more from the government teat is not reason enough for all the consumers to pay more.

Do something to improve yourself, your talents, your worth to the employer to improve their bottom line and then you are worth a raise. Just because, is not reason enough.

I dare you to post your educational level of accomplishment and age to justify your stance.
disagree

Georgetown, KY

#6 Feb 12, 2014
Plain facts wrote:
The Most Rigorous Research Shows Minimum Wage Increases Do Not Reduce Employment
The opinion of the economics profession on the impact of the minimum wage has shifted significantly over the past fifteen years. Today, the most rigorous research shows little evidence of job reductions from a higher minimum wage. Indicative is a 2013 survey by the University of Chicago’s Booth School of Business in which leading economists agreed by a nearly 4 to 1 margin that the benefits of raising and indexing the minimum wage outweigh the costs.
This page reviews the most widely-cited and influential studies on the impact of minimum wage increases on employment, and examines the primary reasons why low-wage employers can afford higher wages today.Why Do Minimum Wage Increases Not Reduce Employment?
#1) The vast majority of low-wage workers are employed by large corporations, not small businesses:
Study: Big Business, Corporate Profits, and the Minimum Wage (2012)
Summary: An analysis of Census Bureau data finds that roughly two thirds (66 percent) of low-wage workers are employed by large companies with over 100 employees, not small businesses. Furthermore, the largest low-wage employers – including retail and fast food chains such as Walmart and McDonalds – are earning strong profits today and can afford higher wages.
Source: Doucougliagos and Stanely,“Publication Selection Bias in Minimum Wage Research
Study: Why Does the Minimum Wage Have No Discernible Effect on Employment?(2013)
Paul Krugman, Princeton University, February 2013:“Now, you might argue that even if the current minimum wage seems low, raising it would cost jobs. But there’s evidence on that question — lots and lots of evidence, because the minimum wage is one of the most studied issues in all of economics. U.S. experience, it turns out, offers many ‘natural experiments’ here, in which one state raises its minimum wage while others do not. And while there are dissenters, as there always are, the great preponderance of the evidence from these natural experiments points to little if any negative effect of minimum wage increases on employment.”(Source)
Bloomberg News, April 2012: "[A] wave of new economic research is disproving those arguments about job losses and youth employment. Previous studies tended not to control for regional economic trends that were already affecting employment levels, such as a manufacturing-dependent state that was shedding jobs. The new research looks at micro-level employment patterns for a more accurate employment picture. The studies find minimum-wage increases even provide an economic boost, albeit a small one, as strapped workers immediately spend their raises.”(Source)
In Focus: Two Leading Studies on Minimum Wage and Job Growth
Study: Do Minimum Wages Really Reduce Teen Employment?(2011)
Summary: Examines every minimum wage increase in the United States over the past two decades—including increases that took place during protracted periods of high unemployment—and finds that raising the wage floor boosted incomes without reducing employment or slowing job creation. The research demonstrates how a body of previous research—one frequently relied on by business lobbyists who oppose minimum wage increases—inaccurately attributes declines in employment to increases in the minimum wage by failing to sufficiently account for critical economic factors.[NELP Summary]
Study: Minimum Wage Effects Across State Borders (2010)
Why are we in a recession since the last minimum wage increase?
Wisdom

Latonia, KY

#7 Feb 12, 2014
Obama- highest deficit spending in the history of the presidency.

USA highest corporate income tax in the world

Fed is printing money and falsely pumping up the economy and weakening the strength of the dollar.

Clinton wanted affordable housing for all, banks offered signature loans without due diligence, housing prices escalated due to demand, housing bubble burst when individuals started to default on loans and banks got in trouble selling questionable securities surround housing industry.

Obama big government policies, over burdensome EPA rules.

Restrictions on off-shore oil drilling and limitations on approved drilling permits.

Unprotected borders, current administration ignoring rule of law.

ObamaCare.

Just a few reasons.
Wisdom

Latonia, KY

#8 Feb 12, 2014
Economic equality is a code name for economic redistribution.

What is desired is economic opportunity. Both are not gained without greater investment in yourself...unless through political strong arm policies on businesses..and many will simple reduce staff, or close.

Why is it that liberalism has repeatedly failed to raise the lower end of the bell curve individuals despite all the money we continually throw at all of social ills.

At what point is it up to the individual to be held responsible for their lot in life, and let them live it as they have earned it, and give the money to the truly needy- the mentally and physically handicapped, and let the low performers and takers get what they are worth to society?
Wisdom

Latonia, KY

#9 Feb 12, 2014
The champions of the poor are doing there best to stimulate the economy- how do you defend spending $12 GRAND on a dress....oh, well
"let them eat cake....." or let them buy their own with their snap money.

On the menu was dry-aged rib eye beef, American caviar and salad. The full-skirted dress was a liberty blue with a black hand-sewn and beaded embroidery applique top designed by Carolina Herrera. The entertainment was nine-time Grammy winner Mary J. Blige. And the guest of honor, who recently had a very public split from his first lady, sat in a very conspicuous spot without his plus one.

Such was the scene for the first state dinner of Obama’s second term honoring French President Francois Hollande at the White House Tuesday.

This state dinner was the seventh of the Obama administration — and the price adds up. CBS News filed a Freedom of Information Act request and received, after 13 months, the cost of Obama’s first five state dinners:

Nov. 24, 2009 – State dinner for Prime Minister Manmohan Singh of India.$572,187.36
May 19, 2010 – State dinner for President Felipe Calderon of Mexico.$563,479.92
Jan. 19, 2011 – State dinner for President Hu Jintao of China.$412,329.73.
June 7, 2011 – State dinner for Chancellor Angela Merkel of Germany.$215,883.36
Oct. 13, 2011 – State dinner for President Lee Myung-bak of South Korea.$203,053.34
To get a sense of how much this costs per guest, the Washington Post noted the dinner for Myung-Bak had about 200 guests, putting the cost at about $1,000 per person — and that’s on the low end as state dinners go by the looks of it.

CBS News reported that it is awaiting a response for the cost of the dinner honoring Prime Minister David Cameron in March 2012.

The total cost of this latest state dinner also has not yet been revealed, but there were 35o people on the guest list. If it cost $1,000 per plate — a conservative estimate — Tuesday’s dinner would have cost $350,000.

There are at least estimates being made on the cost of Michelle Obama’s dress. Joe Zee, creative director for Elle Magazine, told CNN he thinks it cost about $12,000.
Wisdom

Latonia, KY

#10 Feb 12, 2014
From a State Representative...there are lot of ramifications (to raising the wage) that people don’t realize, like unfunded mandates on local governments, unfunded mandates on schools, and the obvious impact on unemployment,” Hoover said.-

See more at: http://www.themoreheadnews.com/breakinglocaln...

Since: Mar 11

Location hidden

#11 Feb 12, 2014
get for real wrote:
You are right,but the poor are so selfish;they want that measly $3 raise even though it will not lift them out of poverty. And just like aka said,his kids making $100,000 a year will have to pay more for everything. Life sucks just not fair . Just how much of this can those undermining minimum wage folk think we wealthy can handle? It is just not fair I tell you, not fair ,not fair.Why can't the poor just keep working for $7.35 ? They have for years ,why start now asking for us to vote that they get a $3 raise. Three dollars is nothing I tell them nothing. Yet I find myself crying over it every day. and I see you & aka do also.
If you are going to attribute a statement to me at least try to get it right. I didn't say my kids make $100k, I said they will have to make that in order to have anything. I still see you have chosen not to find anything to support your thoughts that a $3/hr wage increase will not affect the prices of everything. I also noticed that neither you nor anyone else has posted anything considering the impact on the fixed income people.

I posted a link on the other thread and I might have gotten some misinformation, the source was FAUX NEWS LOL! I laugh everytime I put Faux and News together. I read that the proposed minimum wage increase was set for federal contractors only at this point. The plan is to eventually expand that increase to include the general public but for now it doesn't mean everyone. Please, if I am wrong let me know.
get for real

Grayson, KY

#12 Feb 12, 2014
aka will wrote:
<quoted text>
If you are going to attribute a statement to me at least try to get it right. I didn't say my kids make $100k, I said they will have to make that in order to have anything. I still see you have chosen not to find anything to support your thoughts that a $3/hr wage increase will not affect the prices of everything. I also noticed that neither you nor anyone else has posted anything considering the impact on the fixed income people.
I posted a link on the other thread and I might have gotten some misinformation, the source was FAUX NEWS LOL! I laugh everytime I put Faux and News together. I read that the proposed minimum wage increase was set for federal contractors only at this point. The plan is to eventually expand that increase to include the general public but for now it doesn't mean everyone. Please, if I am wrong let me know.
Oh your poor son Billy Bob will have to spend $100,000 to have anything ???? But I suppose those earning $7.35 could live good ? Get you head out of that toilet and you might wise up,breathing unhealthy air has polluted your brain. As a matter of fact the post that starts this forum says "Minimum wage will boost Economy". Try reading it- bet you wont,you & wisdom only read and post anything against MW raise. You & she believe your posts,we believe the post on how raising MW wage will benefit those receiving it and the economy .Who gives a big quake if you may more ( but fact is the reason cost of living raised is because of the economy is based on what the middle class income is set at. If prices were based on the poor person's $7.35 ,everything would be dirt cheap. Quit your ignorant post on telling people that giving them a raise will ruin them. If you feel so sorry for people paying too much,tell your son Billy Bob to work for $7.35 an hour. Bye bye sweetie
MW RAISE HELPS EVERYONE

Grayson, KY

#13 Feb 12, 2014
Food Day report: Minimum-wage hike would raise food prices pennies, help millions
By Kathleen Maclay, Media Relations | October 24, 2012
BERKELEY —
A new report released today (Wednesday, Oct. 24), national Food Day 2012, says that a proposal pending in Congress to raise the minimum wage would increase retail food prices for American consumers by at most 10 cents a day, while helping nearly 8 million food workers and 21 million workers in other industries.
The report from the recently established Food Labor Research Center, based at the UC Berkeley’s Center for Labor Research and Education, along with the Food Chain Workers Alliance and the Restaurant Opportunities Centers (ROC United) looks at the proposed “Fair Minimum Wage Act of 2012.” The act would represent the first increase in the non-tipped minimum wage in five years and the first in 21 years for tipped workers, who because they make $30 or more in tips a month, can be paid less than other workers.
The above graphic illustrates the impacts of proposed increases to the federal minimum wage for both consumers and food industry workers, as calculated by the Food Labor Research Center.
“Food workers are some of the lowest-paid workers in America, and they face much higher levels of food insecurity than the rest of the U.S. workforce,” said Saru Jayaraman, director of the Food Labor Research Center.“Our report shows that raising the minimum wage would help them put food on the table while barely, if at all, impacting everyone else’s ability to put food on their tables, too.”
The report,“A Dime a Day: The Impact of the Miller/Harkin Minimum Wage Proposal on the Price of Food,”
The country’s food system is the largest employer of minimum-wage workers, who hold positions ranging from agricultural field hands and food-processing-plant workers to cooks in diners and waiters in high-end restaurants.
The bill, introduced last summer by Rep. George Miller (D-Calif.) in the U.S. House of Representatives and Sen. Tom Harkin (D-Iowa) in the U.S. Senate, calls for incremental increases of 85 cents an hour for each of the next three years to raise the federal minimum wage from $7.25 per hour to $9.80 an hour. I
“Raising the minimum wage at its core is about respecting and valuing work,” said Rep. Miller.“No one who works hard every day and plays by the rules should live in poverty. It’s also good economic policy. Giving minimum-wage workers a raise will help millions of working families make ends meet and help grow the economy.”
Jayaraman and Benner said that even if employers passed along 100 percent of the wage increase to consumers:
&#9679; Grocery store prices would increase less than half of 1 percent, on average, over the three-year phase-in of the new minimum wage
&#9679; Restaurant food prices would increase by less than 1 percent a year
The average U.S. household spends $3,827 a year on food eaten at home and another $2,634 on food eaten out. In real numbers, the researchers say, the price of a $20 restaurant meal would increase 45 cents over three years, and grocery bills would rise less than 3 cents per day. Conversely, non-tipped wages would increase by 33 percent, and tipped workers would see more than a 100 percent wage increase. Together, over the three years the law would need to fully take effect, these increases would translate into a cost of at most 10 cents more per day, on average, for American households.

“We rely on food system workers to bring our food to our tables – workers on farms and in food processing plants, warehouses, grocery stores, and restaurant and food service establishments,” said Joann Lo, executive director of the Food Chain Workers Alliance.“It’s a sad irony that food-system workers rely on food stamps at one-and-a-half times the rate of the general workforce. Raising the minimum wage can help lift food workers, and workers in other industries, out of poverty.”

Since: Mar 11

Location hidden

#14 Feb 12, 2014
ok so that was a lot like talking to a room full of 4yr olds. I read perfectly well, clearly better than you do. I read it, did you? The copy/paste information provided actually says large companies will be unaffected as their profits are high enough to provide for the wage increase. It says nothing about the elderly or others on fixed income. Nothing still on the projected price increase for goods and services. How do you get through life and yet not be able to read any better than what you have shown here?
MW RAISE HELPS EVERYONE

Grayson, KY

#15 Feb 12, 2014
aka will wrote:
ok so that was a lot like talking to a room full of 4yr olds. I read perfectly well, clearly better than you do. I read it, did you? The copy/paste information provided actually says large companies will be unaffected as their profits are high enough to provide for the wage increase. It says nothing about the elderly or others on fixed income. Nothing still on the projected price increase for goods and services. How do you get through life and yet not be able to read any better than what you have shown here?
AKA,you seem to need help with reading and comprehending what you read . Suggestion let one of your kids or spouse read this below( THIS is part of the article you just read .

Rep. Miller.“No one who works hard every day and plays by the rules should live in poverty. It’s also good economic policy. Giving minimum-wage workers a raise will help millions of working families make ends meet and help grow the economy.”
Jayaraman and Benner said that even if employers passed along 100 percent of the wage increase to consumers:
&#9679; Grocery store prices would increase less than half of 1 percent, on average, over the three-year phase-in of the new minimum wage
&#9679; Restaurant food prices would increase by less than 1 percent a year
The average U.S. household spends $3,827 a year on food eaten at home and another $2,634 on food eaten out. In real numbers, the researchers say, the price of a $20 restaurant meal would increase 45 cents over three years, and grocery bills would rise less than 3 cents per day. Conversely, non-tipped wages would increase by 33 percent, and tipped workers would see more than a 100 percent wage increase. Together, over the three years the law would need to fully take effect, these increases would translate into a cost of at most 10 cents more per day, on average, for American households.

PS - AKA are you so broke that you can not afford a dime a day increase?
You know I sometimes think you are about 10 years old if that ..........
Wisdom

Latonia, KY

#16 Feb 13, 2014
Your raise is a forced mandate on the employer at a cost to everyone else who shops....you included.

Since: Mar 11

Location hidden

#17 Feb 13, 2014
Does that make sense to you? Does it make sense to anyone? If your employer passes along 100% of the increase that prices would only increase 1%? Look, I get that economics aren't everyone's thing, crunching numbers isn't fun and when you don't have money sitting and looking at what you don't have and trying to make it work sucks but MW is $7.25? now. If you increase that by almost 50% you really thing prices will only be affected by 1%?

Again, I ask, I read an article that says that this increase at this time is only for federal contractors with general public projected for years to come. This was a faux news article so I take it with a huge grain of salt.
reality check

Cleveland, GA

#18 Feb 13, 2014
aka will wrote:
Does that make sense to you? Does it make sense to anyone? If your employer passes along 100% of the increase that prices would only increase 1%? Look, I get that economics aren't everyone's thing, crunching numbers isn't fun and when you don't have money sitting and looking at what you don't have and trying to make it work sucks but MW is $7.25? now. If you increase that by almost 50% you really thing prices will only be affected by 1%?
Again, I ask, I read an article that says that this increase at this time is only for federal contractors with general public projected for years to come. This was a faux news article so I take it with a huge grain of salt.
Then please tell us why the costs continue to rise everyday with no increase in minimum wage??? The prices will increase no matter if MW is increased or not. Right now a gallon of gas is roughly $3.40 a gallon and milk $3-4; bacon is $6 for a tiny pack and so on and so forth...if you make MW how much groceries or gas do you feel you could buy? No wonder people are choosing to stay at home and be lazy sacks of crap because they get more money to hang out on the couch and eat Cheetos cause the government will pick up the tab that the EMPLOYERS WILL NOT!!

In the end, someone pays somewhere. Whether it be the government, the taxpayers, it doesn't matter but I know I sure as hell would rather see people working and earning their little paychecks than sitting on the couch laughing at all the others who work everyday and pay their way through life. If you don't throw a few crumbs with an increase in MW, you will pay for it in another way you can take that to the bank. Wisdum, don't be stupid. Not everyone will be a candidate for a college degree, why do you think they don't have one in the first place?? There isn't enough jobs for college grads now with good grades, much less those that had to be kicked through barely passing. Everything is going up anyway!!!!!!
reality check

Cleveland, GA

#19 Feb 13, 2014
While we are at it, lets get it out on the table. Spread a little reality in this forum of squirrel chit. The American Dream was sold out a long time ago. Rich folks on Wall Street and in Washington BOTH DEMS AND REPUBS SOLD US OUT!!!!! To make more money they ruined our future, now our grandkids will be lucky to see a college education or find any kind of worthy job in this part of the world. REALITY CHECK!
your right

Grayson, KY

#20 Feb 13, 2014
reality check wrote:
<quoted text>
Then please tell us why the costs continue to rise everyday with no increase in minimum wage??? The prices will increase no matter if MW is increased or not. Right now a gallon of gas is roughly $3.40 a gallon and milk $3-4; bacon is $6 for a tiny pack and so on and so forth...if you make MW how much groceries or gas do you feel you could buy? No wonder people are choosing to stay at home and be lazy sacks of crap because they get more money to hang out on the couch and eat Cheetos cause the government will pick up the tab that the EMPLOYERS WILL NOT!!
In the end, someone pays somewhere. Whether it be the government, the taxpayers, it doesn't matter but I know I sure as hell would rather see people working and earning their little paychecks than sitting on the couch laughing at all the others who work everyday and pay their way through life. If you don't throw a few crumbs with an increase in MW, you will pay for it in another way you can take that to the bank. Wisdum, don't be stupid. Not everyone will be a candidate for a college degree, why do you think they don't have one in the first place?? There isn't enough jobs for college grads now with good grades, much less those that had to be kicked through barely passing. Everything is going up anyway!!!!!!
You are right, minimum wage has not raised and yet prices keep going up ,it is not blamed on MW increase. But wisdom and aka and others can not comprehend that. No MW increase for years, and yet cost of living has continue to raise every year! But dolts will continue blaming the high cost on the very lowest paid people working. Their head is filled with hot air and little brain ,naive is not enough to describe their lack of understanding on how the economy adjusts pricing !
Wisdom

Latonia, KY

#21 Feb 13, 2014
U.S. NEWS
->->Retail Sales Fall, Point to Slowing Growth

->->Decline of 0.4% in January,->->December Revised Downward

By JOSH MITCHELL And JONATHAN HOUSE CONNECT
Updated Feb. 13, 2014 11:11 a.m.
Wall Street Journal

Yep, no clue of what is going on, huh? So how are employers supposed to pay for increases in salary, ObamaCare taxation? Guess that means more employee downsizing, higher end product costs and/or fewer hours.

As a Ky Senator so aptly put it, then this would create an unfunded mandate on schools, governments which would then return back to the citizens in the form of higher taxation.

I guess on your planet the economy is roaring back. Not here.

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