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Author Topic: Yay Higher minimum wage. Couldn't be a better time for it.  (Read 1629 times)

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Hideaki769

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Yay Higher minimum wage. Couldn't be a better time for it.
« on: July 10, 2009, 07:11:51 PM »

http://finance.yahoo.com/career-work/article/107297/higher-minimum-wage-coming-soon.html;_ylt=AjEJQ5h0viRdLQu5VEYl0W2CfNdF?mod=career-salary_negotiation


"The federal minimum wage is set to increase later this month as the job market shows signs of further decay.

But the next increase is set to occur as the job market is reeling under high unemployment and ongoing payroll cuts.

Unemployment has increased for nine months straight, achieving a 26-year high of 9.5% in June, according to the Labor Department.

Many workers have taken jobs that pay far below what they're used to. Other people have given up looking. The number of people who have been unemployed for more than six months has reached nearly 4.4 million, meaning that benefits for some of the unemployed have expired.

John Lonski, chief economist for Moody's Investors Service, said the hike in the minimum wage is "going against the grain" of the economy, and that the job market might not be able to absorb the mandated increase.

"You wonder if this might be a little too much for certain employers to shoulder, especially in a time that's been marked by a decline in business sales," said Lonski. "This might actually delay the return of job growth."

The minimum wage increase will be felt most acutely by employers at restaurants, especially fast food, and also the hard-hit retail sector, according to Lonski."
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BonerJoe

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Re: Yay Higher minimum wage. Couldn't be a better time for it.
« Reply #1 on: July 10, 2009, 07:16:02 PM »

.
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Alex Libman 14

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Re: Yay Higher minimum wage. Couldn't be a better time for it.
« Reply #2 on: July 10, 2009, 09:27:18 PM »

I'm still waiting for the "minimum sex" legislation to come through...

I mean, it just isn't fair to us geeks!  Incompetent people have the government interfere on their behalf to make sure they get more money than they fairly deserve in accordance with the objective natural laws of supply and demand, why can't we socially retarded degenerates have the government force people to have sex with us?  Minimum sex for all!





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libertylover

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Re: Yay Higher minimum wage. Couldn't be a better time for it.
« Reply #3 on: July 10, 2009, 11:58:19 PM »

Just wondering does anyone know how they come up with the unemployment figures.  Or are they numbers the government just pulls out of it's ass per usual?
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Bill Brasky

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Re: Yay Higher minimum wage. Couldn't be a better time for it.
« Reply #4 on: July 11, 2009, 01:59:24 AM »

Just wondering does anyone know how they come up with the unemployment figures.  Or are they numbers the government just pulls out of it's ass per usual?

Its supposed to be people on unemployment, they have a formula. 

Its a horseshit number.  Not an accurate figure.  That 9.7 or whatever is total bullshit, when talking about the able-bodied workforce. 

Theres a more accurate figure that is unofficial, I don't know how they arrive at the figure but it involves the unemployment number plus other stats, like college students who don't have enough time in the workforce to acquire unemployment, people who work on the fringe who habitually take part-time jobs, like housewives and single moms - some people tend to work a few months and quit because of various reasons, so they'll take two part time jobs and if they lose one, they still have one. 

They talk about it occasionally on CNBC, but not often.  It influences the trading on Wall Street, I've heard it mentioned two-tree times. 

That figure is placing the able-bodied working class at approximately 18% unemployment.  They can work, and they do work.  They're just out of work right now and plan to return.  They have actuarial tables of people who file taxes, and who don't.  Even if they don't, they can assume a certain number is working under the table.  These numbers of taxable and holdouts are caving in. 

http://en.wikipedia.org/wiki/Unemployment

One in five normal people, not including retirees, children, and people who have various physical or mental limitations. 

300 million, you can divide the population into rough fifths.  1/5 is underage, 1/5 is retired, 1/5 is in the middle, but somehow ineligible - adult non-income earners.  That leaves 2/5ths as the workforce, 120 million (which I've seen mentioned before elsewhere, American workforce is in the 125-150 million range) .  18% of 120m is about 25 million people out of work.
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Hideaki769

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Re: Yay Higher minimum wage. Couldn't be a better time for it.
« Reply #5 on: July 11, 2009, 03:05:04 AM »

Thanks iPrik I didnt really know how they get their numbers I just take what I can from various new sources and compare if I can.
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libertylover

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Re: Yay Higher minimum wage. Couldn't be a better time for it.
« Reply #6 on: July 11, 2009, 03:39:00 AM »

See I don't think I am counted as unemployed as a homemaker.  But I would like to get a job.  The only thing is after childcare, transportation, clothing and other job related expenses it would be like operating a business at a loss.  I am looking into doing more pickup work for extra cash.  I am not so interested in childcare the liability vs the self-employed tax is so bad it isn't worth it. 
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Bill Brasky

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Re: Yay Higher minimum wage. Couldn't be a better time for it.
« Reply #7 on: July 12, 2009, 05:43:26 PM »

See I don't think I am counted as unemployed as a homemaker.  But I would like to get a job.  The only thing is after childcare, transportation, clothing and other job related expenses it would be like operating a business at a loss.  I am looking into doing more pickup work for extra cash.  I am not so interested in childcare the liability vs the self-employed tax is so bad it isn't worth it. 

You're not counted, you're exempt - for the purposes of their numbers. At least, the way I understand it.  The workforce is defined by the process of elimination.  You have an agreement in your household as a homemaker, as do many people.  Thats a huge number they're not likely to overlook or factor into the formula. 

When I was married, we went round 'n round about her working.  It wasn't really necessary, but it helped and if the perfect gig could be found, she'd take it for a while.  Usually it was more trouble than it was worth, and between daycare and taxes, and miscellaneous expenses like lunch and wardrobe and car, would amount to peanuts after those overhead expenses.  Wasn't worth it to uproot the kids and runrunrun like a dog for a measly hundred bucks a week - maybe less- after all was accounted for. 

But now, things have changed.  Her status has changed.  Her participation in the workforce is mandatory for survival.  I take no pleasure in that. 

Never overlook the power of the invisible elephant in the room, welfare.  Just as mentioned above, it often seems the minimal return after taxes is less than she could get if she worked the system and signed up for every benefit she's eligible for.  Its not really a lazy thing, its an economic consideration.  She, and a lot of single moms in the same boat, know perfectly well they'd be rewarded with a better quality of life if they didn't work.  Fed, state and local taxes, S.S.   Those deductions are a terrible encroachment on her wages. 

If they wanted to make working worth more than welfare, they could do it.  But I'm convinced they don't want to, because its a morass that creates government jobs a-plenty.  Between the huge number of additional IRS employees needed for the people at low wages, welfare case workers, section-8 people, project housing people, and the trillions in taxes filtered through all those organizations...  Its the biggest ponzi in the world. 
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