Minimum wage in USA (fight for 15)

[egan.]

FWIW Federal minimum wage wouldn't change instantly, but would be distributed across many years. For example technically San Francisco passed a $15/hr minimum wage last year however it is going to happen incrementally so the minimum won't actually reach $15 until 2018. Personally I think the Federal minimum should go to $8 but be permanently pegged to inflation there after. Then state and local governments should pass bills to protect their respective citizens. It just doesn't make any sense to hold a business in rural Kentucky to the same standard as a business in SF because the cost of living is like 1/3 as much.

 

[He's Dead, Jim]

Personally I think the Federal minimum should go to $8 but be permanently pegged to inflation there after. Then state and local governments should pass bills to protect their respective citizens. It just doesn't make any sense to hold a business in rural Kentucky to the same standard as a business in SF because the cost of living is like 1/3 as much.

But that makes sense and is economically sound, so no legislator will ever propose it.

 

[Genius Gone Insane]

State tax is why, for example, Norway is Norway. I cite those nordic countries (Norway, Swedden, and in a similar manner Finland and Denmark) because I am related to them now that I work in one of their companies. From my experience, your comment just shows how ignorant you are about tax and states. States are, in fact, good. I live in spain now. The country is corrupted as hell, and is selling everything, privatising everything. It's just getting worse. Countries where things are statal and based on taxes, work way better, and feel more fair. Just go to Norway have a look, set aside cultural or personal preferences, and ask them what benefits they get out of their 40ish % of taxes. Trust me, you'd want to pay taxes too.

I was being 100% sarcastic. Sorry for the confusion, Jeff's right, the trigger did not translate well.

 

[LeSedna]

No problem !

Question : why is the minimum wage salary not calculated yearly ?

 

[egan.]

No problem !

Question : why is the minimum wage salary not calculated yearly ?

Politics. Essentially one entire party doesn't want there to be a minimum wage at all. So raising minimum wage requires significant political will as well as a Democratic majority.

 

[jamvanman]

I'm an economist, although this is not my particular field.

I think what kass said is a very good summary of the consensus. Yes, it's somewhat controversial but most economists believe a large increase in the minimum wage would destroy jobs and produce higher unemployment.

Now there are important welfare issues to consider but these are better addressed through the tax/transfer system.

 

[Loren Littlejohn]

I really wish the government would mandate that I get more money per hour.

I have no good reason for this, I just feel entitled to it because of reasons. Why shouldn't I make as much as junior graphic designers, registered nurses, truck drivers, or plumbers?

If I can get $30k a year without any responsibilities beyond flashing a smile and asking if people want fries with that then sign me the fuck up!

All the better if we can figure out how to make tax payers support the pay hike. If NYS can pay $53 million dollars (startup NY ads) creating 76 jobs (in 2014) then I see no reason why we can't waste more tax payer money on this.

 

[StoneLord]

BTW, ^ that one is serious. Not parody.

 

[SocialNumb]

Meh, if they can find a way to do it I would gladly pay more taxes. Don't care, it's not like I choose where my tax money goes anyways/personally. They're going to take it anyways might as well go to something I agree with regardless of how lazy these people might or might not be. Shit I give bums money all the time, just because.

 

[kass]

No problem !

Question : why is the minimum wage salary not calculated yearly ?

People don't work the same number of hours.

 

[JeffTD]

Multiple by 2080 for average 'full time' 40 hour work weeks. 52 weeks x 40hrs = 2080, so this is includes zero unpaid vacation/personal days and assumes paid federal holidays AKA busting your ass year-round.

Current fed minimum wage is $7.25 hourly, $15,080 yearly.
The proposed raise would be $15.00 hourly, $31,200 yearly.

 

[AD Chaos]

It's ironic to see people from the US (or rather, people not from the US) getting interested in a discussion over minimum wage in the US, just as barely this past week all major US allies (Australia, S Korea, the UK, Germany, France, Italy, Norway, Sweden, etc.. even Israel) have apparently begun to formally turn away from the FED/IMF/ADB/WB and their dollar hegemony, in favor of AIIB and the Yuan Renminbi (despite the US gov complaining a lot about it), a lot of them even becoming founding members.

I'm guessing the same corporation moguls who bribe/lobby politicians in the US to get ridiculous tax exceptions would end up transferring most of their wealth towards the Yuan if things keep going in the same direction, leaving the American middle class alone to suck up most of the impact in a hyperinflation scenario, if such a thing happens.. then it wouldn't matter one damn bit if wages get doubled or tripled -or whatever-. It's going to be interesting to see how the US reacts to the developments of AIIB/NDB BRICS and the like from now on, because so far, their response is one big fail.

As for OP's comparison between 'the US and Norway', the difference is simple:

I doubt that'll ever change, tbh.

 

[He's Dead, Jim]

It's ironic to see people from the US (or rather, people not from the US) getting interested in a discussion over minimum wage in the US, just as barely this past week all major US allies (Australia, S Korea, the UK, Germany, France, Italy, Norway, Sweden, etc.. even Israel) have apparently begun to formally turn away from the FED/IMF/ADB/WB and their dollar hegemony, in favor of AIIB and the Yuan Renminbi (despite the US gov complaining a lot about it), a lot of them even becoming founding members.

I'm guessing the same corporation moguls who bribe/lobby politicians in the US to get ridiculous tax exceptions would end up transferring most of their wealth towards the Yuan if things keep going in the same direction, leaving the American middle class alone to suck up most of the impact in a hyperinflation scenario, if such a thing happens.. then it wouldn't matter one damn bit if wages get doubled or tripled -or whatever-. It's going to be interesting to see how the US reacts to the developments of AIIB/NDB BRICS and the like from now on, because so far, their response is one big fail.

As for OP's comparison between 'the US and Norway', the difference is simple:

I doubt that'll ever change, tbh.

The Yuan still has a loooong way to go before it can challenge the dollar in earnest. China's capital controls and lack of convertibility mean that it's pretty worthless to own as a reserve currency at present, and even beyond that, I can't see it becoming on par with the dollar for a while while Chinese policymakers manipulate its value as they do at present. And I think the capitalization of the AIIB was something like $50 billion in USD terms- chump change in relative terms. The vast majority of the kerfuffle was political, not economic, because China is extending its "We give you free money with no strings attached" policy in its own neighborhood, while the World Bank/IMF/ADB all disburse funds with reform conditions attached most of the time.

And of course Norway can tax oil at 78%. Anyone can! But then you get problems like this: http://www.reuters.com/article/2014/05/08/us-norway-economy-insight-idUSBREA4703Z20140508

 

[SocialNumb]

Don't know if this guy was brought up yet but here it goes. http://time.com/money/3831828/ceo-raise-70000-dan-price/

Dude cut his own Pay from a Mill to 70K.

 

[AD Chaos]

The Yuan still has a loooong way to go before it can challenge the dollar in earnest. China's capital controls and lack of convertibility mean that it's pretty worthless to own as a reserve currency at present, and even beyond that, I can't see it becoming on par with the dollar for a while while Chinese policymakers manipulate its value as they do at present. And I think the capitalization of the AIIB was something like $50 billion in USD terms- chump change in relative terms. The vast majority of the kerfuffle was political, not economic, because China is extending its "We give you free money with no strings attached" policy in its own neighborhood, while the World Bank/IMF/ADB all disburse funds with reform conditions attached most of the time.

The Yuan has a ways to go, sure, though it may not necessarily be a 'looong' one; for instance, AIIB was created not 5 months ago, and it already has the backing of all of the developed world (excluding the US.. and Canada, which it's still applying to it). BRICS may not have been a first attempt in the sense of attracting nations outside of a closed agreement, but this new one sure seems to be. China has obviously been working hard to turn the ''shadiness'' stereotype over, and at least on a practical purpose, seems like it's working enough, though the actual reason may have to do with China being formally declared the world’s largest economy by economic output ahead of the US just last December, or the recent estimates of their gold bullion reserves (for the record, I don't think most would actually trust the Chinese government anymore than any dollar-backed counterpart, but it seems like pure economics, where even the IMF will soon have to recognize the Yuan as legitimate reserve currency).

And of course Norway can tax oil at 78%. Anyone can! But then you get problems like this: http://www.reuters.com/article/2014/05/08/us-norway-economy-insight-idUSBREA4703Z20140508

Not ANYONE; corporations are just way too powerful in the US, and they have been for decades. I don't see that changing at all, more so when politicians from both parties there are largely backed by those same corporations.

That's an interesting article and I completely agree with you that a welfare state is far from some ideal choice; Norway and countries in Scandinavia have thrived in the past in spite of welfare, not because of it (as the tired stereotype would have you believe): http://wiki.mises.org/wiki/Scandinavia_and_the_social_state

 

[P-E]

^ Of course the Ludwig von Mises wiki will tell you they succeeded in spite of welfare. That's be like the Trotsky wiki telling you they succeeded in spite of being a capitalist country. BTW, your argument in post 32 can't be generalized to all social-democratic countries: corporations are barely taxed in northern European countries, Norway's oil companies being the exception to the rule. Sweden doesn't tax its corporations much, neither do Finland and Denmark.

Since this is about US public policy, this is best article I have read and studied about how the US' policies went to favour the richest: Hacker and Pierson's Winner-Take-All Politics. It's a bit long, but it's pretty easy to read for an academic article. IMO, it's definitely one of the best political science arguments explaining the problems the US is currently facing regarding social inequalities : http://polisci2.ucsd.edu/ps126aa/documents/HackerPierson2010.pdf It goes in depth in explaining how lobbies are shaping public policy, I think a lot of people in this thread could be interested in reading it.

 

[Loren Littlejohn]

BTW, ^ that one is serious. Not parody.

Actually it was only part parody. If I can benefit from the already stupid amount of fuck over that I get dragged into annually from the idiots running this state (in the form of taxes) then HELL THE FUCK YES.

Rasing the amount of money I need to get paid is better for me so lets FOOKIN DOO IT.

 

[Loren Littlejohn]

I just wanted to point out that "the opposite of what america does" meme is satire so I wouldn't post it up like it has anything to do with facts in fact:

None of the quotes are real, and indeed the Facebook page that creates them acknowledged this: “the Opposite of America memes were created by US Uncut and have reached 30 million people. The reason you know the quotes are fake is because the series is so popular—it’s not too different than the Onion. We aren’t trying to fool anyone and we don’t use fake quotes on anything else.”

27% of what I pay for gas is state and federal taxes. Besides we don't have a tax issue, we have a stupid politicians spending money they don't have on shit we don't need issue.

Case in point, $53 million creating 76 jobs (I watched 200 lay offs happen last year locally so those 76 jobs are a joke) so our idiot governor could be re elected by stupids. NY has shitty roads and fucked up bridges, but no lets "start up NY."