What Minimum-Wage Foes Got Wrong About Seattle

Jul 2013
51,086
54,222
Nashville, TN
Shocker, taxes reduce the marginal benefit/utility of any activity taxed. There's no exception when somebody decides to 'supply' something.
Mark Cuban says tax rates have almost no impact on investment



  • Lower U.S. corporate taxes won't impact investment decisions, billionaire entrepreneur Mark Cuban said on Wednesday
  • Competition drives investment decisions, not taxes, he said.
 
Sep 2014
4,508
1,332
South FL
Mark Cuban says tax rates have almost no impact on investment



  • Lower U.S. corporate taxes won't impact investment decisions, billionaire entrepreneur Mark Cuban said on Wednesday
  • Competition drives investment decisions, not taxes, he said.
Very wealthy people lose touch with taxes because taxes don't actually change what they want to do. But for the vast majority of people taxes is a very relevant expense. In fact, taxes paid is money that cannot be invested because literally you don't have the money to invest anymore.
 

StanStill

Former Staff
Dec 2013
12,077
13,179
Work
Done properly, as Seattle has, Raising the minimum wage is is an economic boon.



Bloomberg - Are you a robot?
Because there are mountains of money and accolades for people to write articles that justify the opinion of corporate elites. The theme is usually some version of

"The poor are people we should ignore; they deserve less, not more."

Whenever some campaign to improve their situation starts, pundits are practically jumping over each other to publish rationalizations of why it would be disastrous or misguided or foolish to acquiesce. Doesn't matter if they are proven wrong every time because there is always a position available for people willing to try again next time, and always a ton of flak and resistance for people who say the opposite.

Media giants make their bread and butter selling ad time to other giant corporations. Whose interests would you expect most of the opinion pieces they publish to support—rich corporate elites, or ordinary people?
 
Sep 2014
4,508
1,332
South FL
What is self evident is employers will gladly pay 5 dollars an hour for 15 dollars worth of labor if they can get away with it.
Of course somebody would but here's the thing, why is it that somebody producing $15 of value and being paid $5 can't convince somebody to pay them....$6.....or $7...or $8....etc

That's why Walmart has employee turnover of......30%+ because the workers actually figure out that they can get somebody else to pay them more.

In fact the vast majority of workers somehow convince employers to fork over well in excess of minimum wage.
 
Jul 2013
51,086
54,222
Nashville, TN
Cost of living is impacted by minimum wage. Standard economics. IF it costs a business $15 an hour to pay a stock boy or cashier? Do you expect them to take the hit? Or raise prices to deal with that?

A shit hole like Seattle will have a high cost of living compared to a nice quiet rural town no matter the minimum wage. That doesn’t mean minimum wage won’t have an impact. There are OTHER economic variables. This is something we deal with here in Florida all the time. The south Florida suck hole causes all kinds of issues when they try to overregulate because they can’t control their overdevelopment and so on. Cost of living is way higher in south Florida than in north Florida. I can make $35K in north Florida and make $45K in south Florida and it would likely even out due to JUST COLA.
And if you moved to Seattle you would need to make even more..that is why they raised their minimum wage...
 
Jul 2013
51,086
54,222
Nashville, TN
Of course somebody would but here's the thing, why is it that somebody producing $15 of value and being paid $5 can't convince somebody to pay them....$6.....or $7...or $8....etc

That's why Walmart has employee turnover of......30%+ because the workers actually figure out that they can get somebody else to pay them more.

In fact the vast majority of workers somehow convince employers to fork over well in excess of minimum wage.
If all workers were unionized and had the power of collective bargaining you might have a point, but they are not, and they don't. Unregulated corporations are sociopathic entities that gave us all forms of corporate malfeasance from virtual slave labor to environmental disaster. Fuck Corporations. Power to the people.
 
Mar 2012
52,896
35,011
New Hampshire
Very wealthy people lose touch with taxes because taxes don't actually change what they want to do. But for the vast majority of people taxes is a very relevant expense. In fact, taxes paid is money that cannot be invested because literally you don't have the money to invest anymore.
Lots of truth there. Rich people dont usually even know what they pay in taxes. But most Americans can tell you down to the dollar what they pay and dont want to pay more. Attempt to raise a school budget 2% and that usually gets shot down.
 
Dec 2018
1,849
613
Florida
So lets look at that…


So, I am going to agree with you that the national minimum wage should adjusted to $11.76 per hour to simply comply with inflation, forget about productivity. But some cities have even higher costs of living than normal, like Seattle, New York and San Francisco. and if those cities need a higher minimum wage they should be able to enact it, power to the people, right?
Wages, wages, wages


House Democrats plan to push for $15 federal minimum wage
Why was minimum wage set at that price? There is one question. Second question. Who cares how much it costs to live in those cities? IF the cost of living is high, then the MARKET should dictate the cost. Not the government. But hey. IF that local government wants to try and impose their will on major companies and others that are more than willing to pick up and move? Have fun. Maybe supply and demand won’t get the better of them.

Just to put this in perspective. A major business wanted to locate a major facility in my county. Would have brought it in hundreds of jobs (excluding support facilities). They wanted reduced taxes. Local government said, “you have to pay your fair share.” They moved one county over. Guess which county is now prospering? Guess which county is languashing? It is not the one with hundreds of jobs.
 

Babba

Former Staff
Jul 2007
73,088
62,413
So. Md.
Then do something else.



I paid the cable bill, fix or stop billing me. And now I don't; I cut the cord.



Well let's turn all pay issues over to the Politburo then because obviously markets don't work, right?



No, it's not, people change jobs.



No different from saying you invested in a business that fails.Train to do something else, I mean, seriously, holy mother of God. You don't have a fundamental right to a job of your choosing. An economy is about doing things people actually want done, if you're spending money to train to do something where the payoff is insufficient, you're making a bad economic decision.
You are
Mark Cuban says tax rates have almost no impact on investment



  • Lower U.S. corporate taxes won't impact investment decisions, billionaire entrepreneur Mark Cuban said on Wednesday
  • Competition drives investment decisions, not taxes, he said.
And because of the rise of monopolies once again there is very little competition.
 
Jul 2013
51,086
54,222
Nashville, TN
Why was minimum wage set at that price? There is one question. Second question. Who cares how much it costs to live in those cities? IF the cost of living is high, then the MARKET should dictate the cost. Not the government. But hey. IF that local government wants to try and impose their will on major companies and others that are more than willing to pick up and move? Have fun. Maybe supply and demand won’t get the better of them.

Just to put this in perspective. A major business wanted to locate a major facility in my county. Would have brought it in hundreds of jobs (excluding support facilities). They wanted reduced taxes. Local government said, “you have to pay your fair share.” They moved one county over. Guess which county is now prospering? Guess which county is languashing? It is not the one with hundreds of jobs.
Then Seattle should be suffering since they committed the ultimate evil of raising their minimum wage according to right wingers...let us check and see. shall we?

exemplifies the powerful current of economic vitality that is transforming many of the nation's largest cities as they connect more deeply to the digital economy and global markets. Over the past decade, Seattle has added 220,000 jobs, an increase of nearly 15 percent.
Hmm, another bullshit right wing meme shot right in the head, go back and do some more research...
 
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