Does Romney's support of minimum wage indicate shift in GOP?

[ishii]

Would you walk up to some random person on the street, hand them a pair of scissors, and trust them to give you a good haircut? Or do you go to an establishment where people with licenses in cosmetology are offering their services? Some people do choose to go to places like an Aveda student salon, but they know that the risk is their hair will be butchered by an as yet inexperienced and unlicensed student. Most people don’t want to take that risk.

We’re talking about braiding, not cutting. Hair braiding.

 

[freeRadical]

I’m no economist, but I would venture to say that tax money is really quite trivial to the Federal Government, and is done more out of show than anything else. It’s all relative, and the government can print up as much money as they like. Would those who are taxed feel any better if the tax was paid by the employer and the hourly rate went down to compensate? Yes, I believe they would feel better.

LOVE!

Wow, just wow. You really believe that the federal doesn’t depend on tax revenue? How do you think they pay for all those social welfare programs you are so found of? If tax money is trivial then I guess you would be okay with completely doing away with any kind of taxation, right? Do you really believe the federal government can just print as much money as it wants without any adverse effects?

 

[Robert_Sock]

Wow, just wow. You really believe that the federal doesn’t depend on tax revenue? How do you think they pay for all those social welfare programs you are so found of? If tax money is trivial then I guess you would be okay with completely doing away with any kind of taxation, right? Do you really believe the federal government can just print as much money as it wants without any adverse effects?

All I’m saying is that the government could eliminate taxes and just rely on the money it prints. Sure it would have consequences, but it’s feasible. You would in essence be making less money, but have nothing to complain about in respect to taxes. It’s all relative, and having people pay taxes causes an uproar among wage-earners.

LOVE!

 

[stinkcat_14]

All I’m saying is that the government could eliminate taxes and just rely on the money it prints. Sure it would have consequences, but it’s feasible. You would in essence be making less money, but have nothing to complain about in respect to taxes. It’s all relative, and having people pay taxes causes an uproar among wage-earners.

LOVE!

Didn’t Germany try this in the 1920s?

 

[RACJ]

Didn’t Germany try this in the 1920s?

Yes. This is a political issue which sounds good to those who have never started a business from the ground up. Envy is not an admirable trait, but many people fall prey to demagogic rhetoric which plays to this weakness. On CAF, it’s 23-11 so far voting to punish the entrepreneur. Rob

 

[stinkcat_14]

Yes. This is a political issue which sounds good to those who have never started a business from the ground up.

I am not sure that people who run a business really understand any more about monetary policy than those who don’t run a business.

Envy is not an admirable trait, but many people fall prey to demagogic rhetoric which plays to this weakness.

I am not sure where you get envy here. There can be any number of motivations for supporting or not supporting a higher minimum wage.

On CAF, it’s 23-11 so far voting to punish the entrepreneur. Rob

I am not sure how we would know the motivations of those voting, but if we wanted to punish the entrepreneur I think we could find much more effective ways than raising the minimum wage, since so few people earn it in the first place.

 

[ishii]

All I’m saying is that the government could eliminate taxes and just rely on the money it prints. Sure it would have consequences, but it’s feasible. You would in essence be making less money, but have nothing to complain about in respect to taxes. It’s all relative, and having people pay taxes causes an uproar among wage-earners.

LOVE!

Robert, if the government ever takes your advice, I hope you have a wheelbarrow on hand. You will need one full of money to buy and apple.

Ishii

 

[stinkcat_14]

Robert, if the government ever takes your advice, I hope you have a wheelbarrow on hand. You will need one full of money to buy and apple.

Ishii

On my desk I have a ten trillion dollar banknote, from Zimbabwe. It is an interesting conversation piece, and that is the extent of its value because it is worthless in Zimbabwe.

 

[freeRadical]

All I’m saying is that the government could eliminate taxes and just rely on the money it prints. Sure it would have consequences, but it’s feasible. You would in essence be making less money, but have nothing to complain about in respect to taxes. It’s all relative, and having people pay taxes causes an uproar among wage-earners.

LOVE!

Have you ever heard of inflation?

You do know that nothing hurts the poor more than inflation right?

Do you know who controls the quantity of money in the US?

 

[Robert_Sock]

Have you ever heard of inflation?

You do know that nothing hurts the poor more than inflation right?

Do you know who controls the quantity of money in the US?

I was just using what I said as an example. I’m really ignorant in economics.

LOVE!

 

[freeRadical]

I was just using what I said as an example. I’m really ignorant in economics.

LOVE!

Fair enough.

The fact of the matter is, government does depend on tax revenue and it cannot just print money willy-nilly with no consequences.

That being said, the federal government doesn’t even print money, except when the Treasury replaces old bills or introduces new bills. The FED controls the quantity of money and they don’t do it by printing money.

 

[freeRadical]

Didn’t Germany try this in the 1920s?

I believe the Confederacy did as well to fund the war effort.

 

[Holly3278]

I think that the minimum wage should be increased but I fear that it might lead to job losses and other economic problems.

 

[freeRadical]

I think that the minimum wage should be increased but I fear that it might lead to job losses and other economic problems.

I think most economists are in agreement that there will be both benefits and costs associated with an increase in the minimum wage. Where they disagree is the size of the benefits and costs and who is affected.

I have a question for you though, and anyone else who supports a minimum wage: Would you be okay with the federal government setting a maximum price on goods? How about a minimum price on goods? Or a maximum wage?

 

[RACJ]

I am not sure that people who run a business really understand any more about monetary policy than those who don’t run a business.
I am not sure where you get envy here. There can be any number of motivations for supporting or not supporting a higher minimum wage.
I am not sure how we would know the motivations of those voting, but if we wanted to punish the entrepreneur I think we could find much more effective ways than raising the minimum wage, since so few people earn it in the first place.

Business people who have started from the ground up DO indeed understand the enormous costs of unfunded mandates and taxes, even if they don’t know what Janet Yellen is doing.
Every Obama speech an appeal to envy. If focus groups showed that this tactic didn’t work, it would stop. Most people see business owners as possessors of pots of gold.
Raising the minimum wage is one surefire way to strangle businesses in their infancy. For established enterprises, all of a sudden those who worked their way to $10 per hour would feel cheated. Rob

 

[stinkcat_14]

Business people who have started from the ground up DO indeed understand the enormous costs of unfunded mandates and taxes, even if they don’t know what Janet Yellen is doing.

In my experience, people who have started businesses have a range of understanding of the broad economic issues. The interesting thing is that the higher taxes and mandates do not seem to have affected corporate profits, which have grown dramatically during Obama’s watch.

Every Obama speech an appeal to envy. If focus groups showed that this tactic didn’t work, it would stop. Most people see business owners as possessors of pots of gold.

Can you cite some data that shows most people see business owners as possessors of pots of gold?

Raising the minimum wage is one surefire way to strangle businesses in their infancy.

Yet, all the other times we have increased the minimum wage and it was difficult to find a discernible impact, what makes this time different. Why would raising the wage rate of the lowest 2% of workers strangle a business?

For established enterprises, all of a sudden those who worked their way to $10 per hour would feel cheated. Rob

That would be their problem. In all the years that the minimum wage went up, my boss never came and offered me a raise because of it. I suspect if we all got raises when the minimum wage went up that the minimum wage would be $20 an hour because it would have a lot of fans.

 

[freeRadical]

Business people who have started from the ground up DO indeed understand the enormous costs of unfunded mandates and taxes, even if they don’t know what Janet Yellen is doing.
Every Obama speech an appeal to envy. If focus groups showed that this tactic didn’t work, it would stop. Most people see business owners as possessors of pots of gold.
Raising the minimum wage is one surefire way to strangle businesses in their infancy. For established enterprises, all of a sudden those who worked their way to $10 per hour would feel cheated. Rob

What does unfounded mandates and taxes have to with monetary policy?

 

[anthony022071]

Why not create jobs where owners can afford to pay an increased minimum wage? What’s going to happen to the work that needs to be done at those 500,000 jobs? They have to get somebody to do it, unless they can automate or can afford to eliminate the jobs. Surly we can figure out a way to stamp out severe poverty.

Business owners offer job opportunities to have people do work for them and to make profits,not to do favors for poor people. They look for ways to save money,not to increase the pay of workers who are not of much value to them and who can be easily replaced.

 

[Kurama]

The problem with increasing the minimum wage:

If minimum wage is raised, that will increase the supply of labour. Since companies cannot afford to employ the extra workers in their companies while paying higher minimum wage, they will need to raise the prices of their goods. This contributes to inflation and leads to less competition in the market, having an adverse effect on the economy. Alternatively they could layoff a large number of workers to compensate the higher wage costs, and this of course leads to more employment

Solution:

Keep minimum wage as it is and, if a significant amount of workers start earning above it, abolish it altogether. Let the price mechanism dictate labour supply and the price of goods. Don’t let the government and the trade unions distort the market.

 

[Robert_Sock]

The problem with increasing the minimum wage:

If minimum wage is raised, that will increase the supply of labour. Since companies cannot afford to employ the extra workers in their companies while paying higher minimum wage, they will need to raise the prices of their goods. This contributes to inflation and leads to less competition in the market, having an adverse effect on the economy. Alternatively they could layoff a large number of workers to compensate the higher wage costs, and this of course leads to more employment

Solution:

Keep minimum wage as it is and, if a significant amount of workers start earning above it, abolish it altogether. Let the price mechanism dictate labour supply and the price of goods. Don’t let the government and the trade unions distort the market.

How would you personally like it if you had to work like a dog at the minimum wage and were never able to make ends meet?

LOVE!