Posts by MeanMrMustard

53

Which is better minimum wage or minimum income?

by hoser in

jw
friends

we were having this discussion in the office the other day and we came to the conclusion minimum wage is better because it still adds to the economy vs minimum income which someone could potentially stay at home and do nothing and still get paid without producing a thing for the greater economy.. thoughts?.

MeanMrMustard

I don't think people actually understand how market forces work and how trying to distort the market inevitably doesn't (but may win votes in the short term).

THIS!

Right now, in the U.S. minimum wage law, there are exemptions for the mentally handicapped. Why? Those are the most vulnerable. Shouldn’t it be in place especially for them? The reason is clear: if you require an employer to pay more than the value of the labor, the employer refrains from hiring. Just like if you set the price of an apple to $100 by law, nobody would buy apples anymore.

But a politician can go to apple growers and give them a load of crap about how much more revenue they would get if only they would vote said politician into office.

Those that vote this way can’t see just a few steps down the chain of causation.

53

Which is better minimum wage or minimum income?

by hoser in

jw
friends

we were having this discussion in the office the other day and we came to the conclusion minimum wage is better because it still adds to the economy vs minimum income which someone could potentially stay at home and do nothing and still get paid without producing a thing for the greater economy.. thoughts?.

MeanMrMustard

@sparky1:

I agree with all your numbered points, except 1 & 5.

Concerning #1: If you give everyone a basic minimum income, what do you think will happen to prices?

Concerning #5: To supply any product, you have productions costs. There are entire supply chains, with consumption along the way. Production will increase in cost, what do you think will then happen to prices?

53

Which is better minimum wage or minimum income?

by hoser in

jw
friends

we were having this discussion in the office the other day and we came to the conclusion minimum wage is better because it still adds to the economy vs minimum income which someone could potentially stay at home and do nothing and still get paid without producing a thing for the greater economy.. thoughts?.

MeanMrMustard

Minimum wage does serve a purpose, which is to protect the folks that are the least skilled and have the least options.

It does the exact opposite. It causes unemployment. It literally reduces options to nothing for many unskilled laborers. Well, unless you count welfare... it makes that option very compelling.

If it was not for minimum wage, employers would off jobs at $3 dollars an hour, and the folks who have no other option would have to take them.

So? If that is what your labor is worth, then you need to take it and learn more skills. Find anything you can and take it, or else you will never get anywhere.

If your labor is worth more than $3, then employers won’t be able to get away with offering that to you. Your labor is valuable and you will be bid away by competitors, and through that mechanism, your wages will rise to meet their value.

53

Which is better minimum wage or minimum income?

by hoser in

jw
friends

we were having this discussion in the office the other day and we came to the conclusion minimum wage is better because it still adds to the economy vs minimum income which someone could potentially stay at home and do nothing and still get paid without producing a thing for the greater economy.. thoughts?.

MeanMrMustard

@hoser:

Exactly. In the short term, you would see these disruptions.

But they wouldn’t shut down completely. They would attract the labor by offering $20/hr. To cover that, prices will rise. That will happen throughout the supply chain. The recipient of minimum income/wage would soon find himself roughly back to where he started. In this example, $15/hr would be the new $0.

53

Which is better minimum wage or minimum income?

by hoser in

jw
friends

we were having this discussion in the office the other day and we came to the conclusion minimum wage is better because it still adds to the economy vs minimum income which someone could potentially stay at home and do nothing and still get paid without producing a thing for the greater economy.. thoughts?.

MeanMrMustard

Question for the minimum income advocates: What do you think will happen to prices once a base income is established? To help: what would happen if the minimum income was set to $1,000,000 per year? Do you think a loaf a bread will stay anywhere near the same price?

53

Which is better minimum wage or minimum income?

by hoser in

jw
friends

we were having this discussion in the office the other day and we came to the conclusion minimum wage is better because it still adds to the economy vs minimum income which someone could potentially stay at home and do nothing and still get paid without producing a thing for the greater economy.. thoughts?.

MeanMrMustard

Let’s pass a better minimum wage law: $1,000,000/hr for everyone! I mean, why stop at $15/hr? Why are we being so stingy? One million per hour for everyone. Poverty would be a thing of the past. Surely nothing bad can come of that!

53

Which is better minimum wage or minimum income?

by hoser in

jw
friends

we were having this discussion in the office the other day and we came to the conclusion minimum wage is better because it still adds to the economy vs minimum income which someone could potentially stay at home and do nothing and still get paid without producing a thing for the greater economy.. thoughts?.

MeanMrMustard

People with mental or physical disabilities... [snip]

People with mental disabilities are exempt from minimum wage laws. You can hire a mentally retarded individual for $1 per hour if you want.

They are exempt because if you require an employer to pay $15/hr for the labor of someone who is mentally retarded, that employer will simply not hire those people. Those exemptions are put into the law for this very reason! It is much better to have these unfortunate people hired by someone, staying active in something, instead of just sitting at home.

The same applies to interns. You can hire an intern for $0/hr. Is that exploitation? Many interns would disagree.

If the value of your labor is less than the minimum wage, then you are unemployed.

401

So, the Womens March ... What Is It For?

by Simon in

it seems like mobilizing after the election, which seems pointless.

i keep hearing demands for equal rights but don't understand what rights they are missing exactly.. normally a march is to show the support (and potential votes) for a cause, but ... votes for what?

... and the election happened already.. is anyone else confused?

MeanMrMustard

After careful research spanning several hours, I have found that the badge is, in fact, a decoder badge from her childhood. Years ago she agreed to let Franco have “a turn” with it. The march today is to proclaim that the “Time’s Up”. It is her turn and she wants it back.**

** The research above represents an attempt to figure out the underlying purpose of the strange marches across the country. It was made assuming that the marching women are acting with, at least, a shred of rationality. I could be incorrect; however, I feel this explanation casts the march in a much more rational perspective. Otherwise their message is self-contradictory. I do feel that some older men would get behind Scarlet, supporting her turn with a decoder badge if, in fact, they could wear a pussy hat. (See previously posted old man pic)

401

So, the Womens March ... What Is It For?

by Simon in

it seems like mobilizing after the election, which seems pointless.

i keep hearing demands for equal rights but don't understand what rights they are missing exactly.. normally a march is to show the support (and potential votes) for a cause, but ... votes for what?

... and the election happened already.. is anyone else confused?

MeanMrMustard

@Simon:

Have they decided what it's actually about yet or is it still a mis-mash of "anti" anything todo with Trump?

As far as I can tell, it’s basically the same thing as last year. Stupid.

401

So, the Womens March ... What Is It For?

by Simon in

it seems like mobilizing after the election, which seems pointless.

i keep hearing demands for equal rights but don't understand what rights they are missing exactly.. normally a march is to show the support (and potential votes) for a cause, but ... votes for what?

... and the election happened already.. is anyone else confused?

MeanMrMustard

Good Lord. I just watched a video on it. One year anniversary. It appears the slogan was “Time’s Up”. But I am not sure what time is up? Why can’t these people actually figure out what they are upset about?