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Old 11-08-2007, 02:07 PM   #181
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I am late to this discussion so I won't be surprised if people ignore me. But someone mentioned polling of economists on minimum wage. A poll of economists is not terribly relevant. What is relevant is the research. My cousin is a leading economist on minimum wage research and her and other researchers are showing that there is an economic benefit to increasing the minimum wage. Minimum wage trends: Understanding past and contemporary research

One other comment. It has been years since there has been any enforcement of the Sherman Act. I think one of the best things for our market, which will never be a totally free market, is to start enforcing antitrust laws.
Have not read the whole article and might not...

But on my quick read, I did not see anything mentioned on the benefits that these people get from the gvmt and how much they will lose with their higher wage... going to $7.25 per hour for a full time person is $15K from just over $10K. I would think that would affect their benes...

And then let's go hog wild... if $7.25 makes things better, then why not $10.. why not $15?? would that not make things even 'more' better? I doubt it. As they said on one of the previous increases, that the rest of the market forces swamped the raise increase... and I would bet that would be the same here... if and when the recession comes, some will blame the increase in the wages.. but who really knows??

BTW.. I do not think the new law is bad... staying at the $5.15 for so long was a bit bad IMO...
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Old 11-08-2007, 02:22 PM   #182
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Rather than make the minimum wage a political issue, I think we should peg it to CPI and up it every 5 years. At least help businesses by taking way uncertainty, and save everyone's money from the millions spent lobbying on each side of the debate. But I guess that would take away a lever for congressmen to force bribes er "campaign contributions" from their constituents.
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Old 11-08-2007, 07:42 PM   #183
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One other comment. It has been years since there has been any enforcement of the Sherman Act. I think one of the best things for our market, which will never be a totally free market, is to start enforcing antitrust laws.
I'm working on it Martha.
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Old 11-08-2007, 08:03 PM   #184
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Thanks Gumby!
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Old 11-08-2007, 09:10 PM   #185
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What is relevant is the research. My cousin is a leading economist on minimum wage research and her and other researchers are showing that there is an economic benefit to increasing the minimum wage. Minimum wage trends: Understanding past and contemporary research.

Read this "research" report issued by EPI.

Then I looked at the Board of Directors of EPI and found it was almost entirely union offcials (Afscme, SEUI, UAW, United Communications Workers, etc, etc) plus Robert Reich.

I believe the sponsor of so-called "research" is also relevant.

Not surprising a labor union supported institute found reasons to raise the minimum wage.
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Old 11-09-2007, 11:24 AM   #186
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Since when has a union member worked for minimum wage
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Old 11-09-2007, 12:10 PM   #187
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Since when has a union member worked for minimum wage
Not in my recent memory. But the higher they can set the floor, the higher they can bargain for their union members!
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Old 11-09-2007, 01:12 PM   #188
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Not in my recent memory. But the higher they can set the floor, the higher they can bargain for their union members!

Correct... the building cleaning people here got unionized and then struck... finally got a contract that called for higher wages and eventually benefits.. but the contract said the wages must be at least $1 higher than minimum... so, raise minimum, raise your union people...
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Old 11-09-2007, 02:54 PM   #189
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I'm working on it Martha.
I was hoping someone would..........

ATT is a monopoly, perhaps worse than it was before.............

Seems like the DOJ just rubber-stamps every merger there is...........:confused:
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Old 11-09-2007, 03:56 PM   #190
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Congress tries to stave off the growth of the AMT and pay for it by taxing hedge fund managers, etc. at 35% instead of 15%...but it looks like it is doomed to failure.
House passes Tax reform Bill
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