General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsOn a scale of 1-10 with 10 being the worst how bad is Trump's plan to end the federal minimum wage ?
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1 (14%) |
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1 (14%) |
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Ten | |
5 (71%) |
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Uponthegears
(1,499 posts)I am going to have to give that a 20.
DemocratSinceBirth
(99,710 posts)I would sell it, use the proceeds to buy something nice for myself but infinitely less pretentious, buy a nice $35,000,00 car, invest some of it, live off the interest, and use the rest to start a foundation.
Uponthegears
(1,499 posts)Indpndntfrombirth
(9 posts)Won't the people right above the minimum wage recipients in the seniority / experience hierarchy feel screwed? Then don't their wages have to be increased too? Seems like some small businesses will likely just cut workers or not hire workers. I prefer an expansion of Clinton's earned interest credit idea.
Warpy
(111,261 posts)so yes, a minimum wage increase kicks off increases for all working people. With more money to spend, they stimulate demand and increase business and profits over what their bosses are spending on increased wages.
It's all counterintuitive, but that's how it works. It's also why no one calls for a rollback of any increase six months after it has been enacted.
DemocratSinceBirth
(99,710 posts)Human101948
(3,457 posts)Too many businesses only work because they exploit their workers. The boss is only able to keep the business going by screwing their workers. That is a losuy business model.
I make this observation as a small business owner with twenty years of experience.
DemocratSinceBirth
(99,710 posts)I don't know what the inflection point is.
Jeffersons Ghost
(15,235 posts)Personally, I think Bill Clinton was a better president than Kennedy. If the trend continues, we should create a Free Republican Forum.
DemocratSinceBirth
(99,710 posts)Then Milton Friedman embraced it and many embraced it along with him. Any thing that gets more money in the hands of the working poor is positive. However a $7.25 minimum wage is too low!
Indpndntfrombirth
(9 posts)Unfortunately, increasing the minimum wage does have a downside. Absent business owner charity or irrationality, it prices out of the labor market people whose skills cannot rationally justify the compelled higher wage.
It is self-defeating insofar as it harms the most vulnerable in our society - and favors those organized and ALREADY employed. Its pro-union but anti-black. It's pro-organized labor but anti-young and marginalized.
It's why the black congressional caucus long opposed the increased minimum wage.
Better is an expansion of the EITC and focused directed work programs.
cloudbase
(5,514 posts)For Trump and his ilk.
DemocratSinceBirth
(99,710 posts)SMH
Chan790
(20,176 posts)Donald Ian Rankin
(13,598 posts)It's pretty bad - the risk that raising a minimum wage will increase unemployment becomes much greater if employers just have to cross a state line rather than moving to another country, so this is something you really want set at a federal level rather than states having to compete on - but I'm confident he'll top it without difficulty.
MissDeeds
(7,499 posts)Trump, his wife, and his children should have to live under his plan for six months. I was going to say a year, but because I'm a liberal, I'm more compassionate than that.
DemocratSinceBirth
(99,710 posts)You mean you couldn't borrow a million dollars from your daddy and trade on his name to create an empire. Maybe he could have done it on his own if he started life like the rest of us plebeians but he didn't.
jmowreader
(50,557 posts)Compared to some of the shit he's dropped on us during the campaign - a plan to do things that are worse than waterboarding, forcing Mexico to pay for a wall that ain't gonna work anyway, forced deportation of eleven million people - getting rid of the minimum wage is Very Bad but Not As Bad As It Could Be.