>A study by the Congressional Budget Office (CBO) estimated that a $10.10 minimum would increase incomes for most poor families, moving 900,000 people above the poverty line
America has 45million people living in poverty
45 million is 50 times more than 900.000
A minimum wage 50 times higher than 10.10 (505) would thusly eliminate poverty in America
>900,000 people get raised above poverty line
>companies increase goods because people have more income
>900,000 people go back under poverty line
>inflation is now increased
Le epic me-me ya gots thar XDDDDDD
That wasn't so hard, was it?
wont happen the jews who run your banks are taking that money senpai, good luck getting that to happen when the jews who are the 1% wont let it happen.
How will they increase goods if they have to pay their workers 505$ per hour?
I think he meant increased prices for goods.
Prices will increase but everyone will be able to pay for it since they aren't poor anymore and companies will eventually decrease costs again through mechanization
>>companies increase goods because people have more income
This is true in the abstract in the same way printing more money doesn't make more money. But we also know in practice it isn't that smooth. There is lag and overlap between competing interests.
If it were this simple we'd also see much cheaper housing and living costs, instead they are going up, while wages adjusted for inflation are stagnant for all but the upper 1%.
Your reductionist view isn't how it works either and you're literally shilling for the corporate scum that's jewing you out of home and business.
Pretty simple, isn't it?
>People have more money but only because of government interference
>Companies now have to pay more, which means to compensate they have to raise prices to pay their employees
>Things level out and nothing has changed, the poor is still poor and prices are high, only difference is that more people are out of work because higher wages means less workers
Everything relatively stayed the same and only got worse, learn economics
As a landlord, if I knew that everyone in my apartments suddenly made an extra 150 a month thanks to a wage hike, what would stop me from increasing everyone's rent 150 a month?
Would utility companies do the same thing?
People would barely even feel it now that their wages are huge and companies will be mechanized because they just got a massive incentive to do so
Maybe
The price would definitely increase because of the new higher labour cost
>their wages are huge and companies will be mechanized because they just got a massive incentive to do so
Uhhhh
this kills the right wing corporate shill
Seattle CPI is 2.5%
bls.gov
Which will cause unemployment which will create more poverty which will be fixed by another minimum wage increase until all jobs are mechanized and basic income gets introduced
It's not rocket science just good old fashioned economics
>this kills the right wing corporate shill
Until we learn that it was based only on the having of a job and not on hours worked. Drs. Ekaterina Jardim, Mark C. Long Robert Plotnick, Emma van Inwegen, Jacob Vigdor, and Hilary Wething, after a meticulous study, concluded (and I quote):
"Importantly, the lost income associated with the hours reductions exceeds the gain associated with the net wage increase of 3.1%. Using data in Table 3, we compute that the average low-wage employee was paid $1,897 per month. The reduction in hours would cost the average employee $179 per month, while the wage increase would recoup only $54 of this loss, leaving a net loss of $125 per month (6.6%), which is sizable for a low-wage worker."
BTFO, clueless leftist faggot!
Source: MINIMUM WAGE INCREASES, WAGES, AND LOW-WAGE EMPLOYMENT: EVIDENCE FROM SEATTLE
I respect your honesty.
There's a difference between raising minimum wage in a small area and doing it across the board. Price increases are usually done at a state or country level. You would start seeing more price increases if it was all over the country, not in one city.
You can only reach an accurate conclusion by being completely intellectually honest in your methods and intentions
We should just pay everyone $1,000,000 an hour. We could all be the 1%!
Additionally, you can already see the outcome of higher mean income without resorting to studies. It's more expensive to buy shit in New York than anywhere else, for example.
The inefficient businesses will fall and make way for the effecient businesses which will provide us with superior productscand services
It's the economically retarded leaf, again.
Don't be riddiculous
That's not how percentages work
Don't u find it odd that the all the corporate shills are shilling the exact same debunked corporate shill study claiming that the $15/hour min wage is bad for workers, yet the workers love the $15/hour min wage?
Seattle has soaring emplyoment, 2.6% unemployment and booming wages.
THE WORKERS LOVE THEIR $15/HOUR MIN WAGE. THEY LOVE IT.
They're not complaining. The only people complaining are the corporate shills and conservashits.
If the $15/hour min wage is so bad for workers, why aren't they protesting in the streets to go back to $11/hour?
Do you think the average minimum wage worker understands the effect raising minimum wage has on the economy? No, the 'Corporate shills' are the ones that understand.
Well, let's be comletely honest
Workers love the wage increase, but if anyone has lost their job because of it then they are effectively no longer 'workers'
Instead of raising the minimum wage, what if we just advance economic policies that revitalise rural communities, reduce rural flight and prevent massive consolidation of business power in megacorps like Walmart?
Where are the job losses that the corporate shills promised me?
(((higher wages are bad for the economy)))
lol u conservashits are so fucking cucked man
>rural flight
rural retards adhere to Republican economics and then are surprised they live in shitholes and get mad that liberal blue coastal areas are thriving
I said 'if'
It's a matter of technicality
>A minimum wage 50 times higher than 10.10 (505) would thusly eliminate poverty in America
Probably because I don't work a minimum wage job.
Why do poverty homes look like that? Why does being poor mean you have to live in such shit condition. Povertyfags are just lazy fucks, that's what it is, raising minimum wage won't do jack fucking shit.
"liberal blue coastal areas" are thriving because of endless rural brain drain and migration, in part due to the hollowing of the heartland via deindustrialisation and business consolidation.
The reason the minimum wage has become a cause celebre on the Left is a side effect of business consolidation creating an economy of low-pay McJobs with little hope of advancement - and as we all know the Left won't touch this stuff, because most of the billionaires that have benefited from this are happy to donate to the Democrats and throw a handful of shekels to the plebs (just don't, y'know, use anti-trust provisions to destroy Google - you're not some kinda economically-illiterate flyover racist, are you?)
you don't have -a- job
Iceland, I like the way you think, but why focus on eliminating poverty instead of bringing on prosperty?
We should thus increase the minimum wage 100 fold and bring the poor into the upper class.
This does sum it up pretty succinctly. Minimum wage jobs were NEVER intended to be a living wage. You were supposed to work at it and find a niche you can fill.
Actually have a mouse crawling in my walls
Amazing how much noise such a little creature can make
>This does sum it up pretty succinctly. Minimum wage jobs were NEVER intended to be a living wage.
yes they were
that's exactly what they were meant to be
>people who work minimum wage jobs in seattle can afford to live in seattle
kek ok
The upper class only makes about 200$ per hour as is
>Additional research conducted by David Neumark and William Wascher (which surveyed over 100 studies related to the employment effects of minimum wages) found that the majority of peer-reviewed economic research (about two-thirds) showed a positive correlation between minimum wage hikes and increased unemployment—especially for young and unskilled workers. Neumark's analysis further found that, when looking at only the most credible research, 85% of studies showed a positive correlation between minimum wage hikes and increased unemployment.[51]
>In February 2014, the Congressional Budget Office (CBO) reported the theoretical effects of a federal minimum wage increase under two scenarios: an increase to $9.00 and an increase to $10.10. According to the report, approximately 100,000 jobs would be lost under the $9.00 option, whereas 500,000 jobs would be lost under the $10.10 option (with a wide range of possible outcomes).[52]
>A 2012 study led by Joseph Sabia, professor of economics at the University of New Hampshire, estimated that the 2004-6 New York State minimum wage increase (from $5.15 to $6.75) resulted in a 20.2% to 21.8% reduction in employment for less-skilled, less-educated workers.[56] Another study conducted by Joseph Sabia, then an assistant professor at American University, found that minimum wages were ineffective at alleviating poverty for single mothers. The study further concluded that a 10% increase in the minimum wage was associated with an 8.8% reduction in employment and an 11.8% reduction in hours for uneducated single mothers.[57]
Be Obama leaf somewhere else
>theoretical effects
now back to reality
And?
>DURR HURR SEATTLE
>proceeds to ignore everything I wrote
Read the last study, you fucking retard. My god you are stupid.
>A 2007 study by Daniel Aaronson and Eric French concluded that a 10% increase in the minimum wage decreased low-skill employment by 2-4% and total restaurant employment by 1-3%.[59]
>Research conducted by Richard Burkhauser, professor emeritus of Policy Analysis at Cornell University, concluded that minimum wage increases "significantly reduce the employment of the most vulnerable groups in the working-age population—young adults without a high school degree (aged 20-24), young black adults and teenagers (aged 16-24), and teenagers (aged 16-19)."[58]
>Congressional Budget Office
Does anyone believe these retards anymore? They have to give their statements speaking around Schumers dick.
it's not just seattle
lol you're shilling corporate shill studies that are against higher wages for American workers
do u ever realize how cucked you are?
Obama leaf getting btfoed again
>lolconservashits
Obamaleaf's supporter clap
>lol conservashits are so easy to trigger
Obamaleaf's supports smile with glee and sagely nod in agreement with Obamaleaf's btfoed info graphics
>lolconservashits cannot into Economics
Obamaleaf supporters develop huge errections and cackle
>Obamaleaf posts debunked Clinton economic surplus farce that's been debunked several times
Obamaleaf supporters cringe with pure joy and start rubbing their throbbing members
>Obamaleaf CONSERVASHITS CANT EVEN READ! As points back to already debunked info
Sup Forums as a person whose studied Economics at University of Oregon. Let this autist be an leave him alone and ignore him. I unironically cannot tell if he seriously believes his crap or is just posting guaranteed reply bait.
505$ per hour would make them richer than the current upper class
>HURR DURR ITS NOT JUST SEATTLE
>posts a fox news article header as """"proof"""""
LMAO you really are retarded
Worked for Zimbabwe!
>Sup Forums as a person whose studied Economics at University of Oregon.
>whose
what's it like to larp as an idiot?
>Sup Forums as a person whose studied Economics at University of Oregon. Let this autist be an leave him alone and ignore him.
this is a common right wing retard shill tactic
i literally just saved this
where are the job losses u corporate shills promised me
show me
>America has 45million people living in poverty
America finally excels at something
tax cuts for george soros will solve this
t. trumptards
>the numbers work
>nine women, working together, should be able to have a child in one month
>even sooner with addtional women, maybe even same-day births!
Are you a project manager perhaps?
People deserve nice things, stop being stingy.
Wages are relative. Raise the minimum wage and workers get a temporary boost at the expense of other peoples savings by way of inflation. After several years, everything costs more, retirees can't afford shit, and minimum wage is just as valuable as before.
I don't think corporate shills understand inflation.
also, retirees benefits like Social Security are inflation adjusted
how come u retards aren't happy about the economy doing better because of higher wages, less gibs, higher tax revenues, etc?
seattle cpi is 2.5% bls.gov
Social security does not adjust well. The average check is $1300 a month. That wouldn't cover rent in a high wage city.
If you make the whole Nation high wage, everything goes up in price.
Just like Zimbabwe and the Wiemar Republic.
Hey guys I'm
,
why are people poor, just give them more money!!!
just print more money nigga how you gon be poor then xDD
What part of Social Security is adjusted for inflation do u not understand?
...
...
This poster does not represent me
i thought u retards like zero brain?
Trump Tax Plan Turns the Donald into Trickle-Down King
zerohedge.com
>for george soros
>soros paying millions to stop trump
k
Didn't he recently talk about raising the tax on the rich and lower it for the lower classes?
I didn't vote. I don't participate in governments. I don't like Trump or any political leaders. I don't take sides in a theater. The only side I take is the natural law rights the creator gave me to defend myself and my property.
Do you know what gematria is bud? This entire thing is a game meant to divide you and I. We are mocked by numbers.
The last time a pay was equal to the labor your do was 1971.
Keynesian economics is a socialist and communistic ideology stemming from the Fabian Society.
You have so much to learn. Stop being a leaf, start being a human being.
yeah he talked about it
r u sad losers really this cucked?
lol u kids got played hard by a billionaire globalist elite
>Stop being a leaf, start being a human being.
lol
No I wasn't
He's pretty much exactly what I expected
>He's pretty much exactly what I expected
same here
he's bush 2.0
but even worse
hey obamaleaf post your fake graphs again those are always good for a laugh
these ones? they're yours
Capitalist cock sucking nation wrecking Sup Forumslution would rather see more people living in poverty and misery than forcing porky to increase wages.
Just because people have more money that wouldn't continue to give that money the same value. Inflation would wipe out any gains for the poor and they'd be back where they started, maybe even in worse condition.
>give
this
>gib me
no the really fake one with the positive/negative bar graph
I don't post fake graphs. That's what u retards do.
that fucking... thing you call a meme. it is truely scary.
post the quintessential non-fake graph then pls
since u asked nicely and correctly
ahgahaahaa AHAAHAHAAHAA thgere's the totally-not-fake obamaleaf graph
What's fucking up pay more than anything here in America is the large number of immigrants competing against the lowest of our low of jobs.
(((They))) try to tell you that white people won't pick our vegetables and fruit. That only the illegals people will. Yes white people won't do it because of the low pay, in a healthy market, the farmer would raise the pay to draw more people in to the crap job. He would raise his prices but it wouldn't effect any one at all because now that the crap jobs are paying more the slightly less crap jobs have to have something to draw people in, so on an so forth up the ladder to a certain point.
Immigration helps the 1% by having tons of cheap labor where the bottom of the local population either you starve, accept slave wages or go on gibs.
lol u do realize that trump embraced those job reports the moment he took office
Actually, your math left out one part.., the people who were already making about $10.10 an hour ( and thus above the poverty line) will also be dragged below that line when prices rise. The net dropping below the line would be greater than the number raised above the line.
Employment levels rising due to higher base wage is normal and not a factor in poverty level calculations due to inflation. Hours worked per pay period is however.
Finally, the average economic lag for changes in policy/practice is about 36 months. Check in after that time and again at 72 months to see what the correlation between raising the minimum wage, inflation and poverty levels are.
Seattle would like a word with you mr armchair economist.