Grafton, NH

Quote: DRich

Just curious, why wouldn't MW decrease if there was deflation? I like the concept of indexing it to inflation/deflation.

Exactly my point. By "indexing" to inflation, there's the possibility of a wage reduction to workers. That's a nonstarter. Or at least it should be.

Quote: DRich

Just curious, why wouldn't MW decrease if there was deflation? I like the concept of indexing it to inflation/deflation.

$8.00 * 1.03 = $8.24

$8.24 - (8.24 * .03) = $7.9928---> $7.99

Basically, decreasing it for deflation could cause it to go down by too much. Also, we've only had one deflationary year (as opposed to slower inflation) since 1960, so it's really not going to be that important. Even then, it was less than half a percent.

Quote: GenoDRPh

Exactly my point. By "indexing" to inflation, there's the possibility of a wage reduction to workers. That's a nonstarter. Or at least it should be.

You don't have a point because my system wouldn't do that in the first place.

I'll tell you what's a nonstarter for me---Federal Minimum Wage being exactly the same for the last about to be fifteen years.

You might think Geno would have liked your MW proposal, but I guess anything less than [god knows what]* is insufficient in his book

* actually you probably just need to tune in to CommieLa or Senator Warren to find out

I'm Still Standing, Yeah, Yeah, Yeah [it's an old guy chant for me]

Quote: odiousgambit

You might think Geno would have liked your MW proposal, but I guess anything less than [god knows what]* is insufficient in his book

* actually you probably just need to tune in to CommieLa or Senator Warren to find out

I think this is why Geno doesn't like my proposal:

1.) I thought of it.

2.) Geno didn't think of it.

3.) It's a good proposal such that he can't even poke a hole in it.

4.) It would be more effective than what the Democrats have done since 2009, which is nothing.

5.) Obama's Congress should have passed it, and Geno knows it.

6.) I think Geno secretly suspects that I'm right about why they didn't.

I do think there's something to what you said in that Democrats might have been worried that, by not going 'far enough' or proposing something that goes, 'far enough' that they could upset some of their own people.

But, there hasn't been an increase to the Federal Minimum Wage since 2009. Anything is better than that.

People wonder why they can't get ahead...well, it's pretty damn simple:

A.) Stagnant Minimum Wage (Federal/lesser jurisdiction) creates no natural upward wage pressure, regardless of what inflation does.

B.) Inflation puts people behind. Interest rates go up, and generally speaking, prices to consumer also increase. When that happens, your paycheck doesn't have the same spending power that it did the year before. You always hear conservative investors (such as Index Funds) say, "Well, at least it keeps up with inflation," that's why.

In general terms, keeping up with inflation means that the amount of money you have will get you roughly the same value in goods and services that it would have prior to the inflationary periods.

So, that's the goal, right? Steady increase to wages, predictable inflation, people not getting buried in credit card debt and helplessly swimming against a never-ending current. Would it solve all consumer problems? No. People would still have to spend responsibly and take credit responsibly, but it would at least give people a better chance.

Quote: Mission146

You don't have a point because my system wouldn't do that in the first place.

I'll tell you what's a nonstarter for me---Federal Minimum Wage being exactly the same for the last about to be fifteen years.

An indexed minimum wage is what we have in BC. The problem is that it drives up all the other wages which is inflationary and particularly hard on small business' that are struggling. Increased wages are nice for those receiving them but remember that the consumer pays them in the end. It just drives more business to China and Amazon.

To give you an idea of the mindset that it creates, when the casino workers were on strike here one of the picket signs was "I am worth more than minimum wage".

Quote: kenarman

An indexed minimum wage is what we have in BC. The problem is that it drives up all the other wages which is inflationary and particularly hard on small business' that are struggling. Increased wages are nice for those receiving them but remember that the consumer pays them in the end. It just drives more business to China and Amazon.

To give you an idea of the mindset that it creates, when the casino workers were on strike here one of the picket signs was "I am worth more than minimum wage".

As you see, one of Geno's objections was that it doesn't drive up the wages of those who are already paying more than MW, but as you point out, they tend to also increase what they pay, relatively proportionately.

I agree that it can contribute to even more inflation, but my focus is on trying to prevent your everyday consumer from being held further and further underwater, year after year. I want the lowest paid amongst people to be able to, if nothing else, at least maintain the relative spending power of the money that they are earning. I am simply unwilling to sacrifice the masses that a few poorly-run small businesses might hold on just a little longer.

Why poorly run? I mean, they're either losing money or were never properly capitalized to begin with. They took a risk, as they have every right to do, and the risk didn't pay off. Maybe the market changed. Maybe there's simply insufficient demand for what they are offering. Maybe they can't move enough units at the price that they need to get in order to garner net profits; none of that is the fault of the low-earning masses who are just out there working.

If the casino workers were on strike, then one assumes that they're either in an official union or that they acted collectively; they have every right to do either of those things. I can tell you this: If I were a Union employee and I was paying dues and making less than minimum wage, I'd be pretty furious...though not necessarily with the employer.

Quote: Mission146

You don't have a point because my system wouldn't do that in the first place.

I'll tell you what's a nonstarter for me---Federal Minimum Wage being exactly the same for the last about to be fifteen years.

DRich's plan would...

Quote: odiousgambit

You might think Geno would have liked your MW proposal, but I guess anything less than [god knows what]* is insufficient in his book

* actually you probably just need to tune in to CommieLa or Senator Warren to find out

Au contrare, mon ami. Did I not say that his plan would get no argument from me?

You all are quite the ignorant bunch.

Quote: GenoDRPh

DRich's plan would...

Yeah, once in the last 63 years by not even half a percent. lol