Welcome to FinHeaven Fans Forums! We're glad to have you here. Please feel free to browse the forum. We'd like to invite you to join our community; doing so will enable you to view additional forums and post with our other members.



VIP Members don't see these ads. Join VIP Now
Page 1 of 3 123 LastLast
Results 1 to 10 of 22

Thread: Minimum Wage...

  1. -1
    TruePoizon's Avatar
    Seasoned Veteran

    Status:
    Offline
    WPA:
    Join date:
    Sep 2011
    Posts:
    510
    vCash:
    2260
    Loc:
    Washington DC
    Thanks / No Thanks

    Minimum Wage...

    The minimum wage in Australia is $15 an hour, which is about $14.80 American. Yet here its $7.25...

    What a joke. How has anyone not seen this and been angered by it to speak/stand up about it?
    www.TruePoizon.com
    Like me on facebook: True Poizon
    Quote Quote  

  2. -2
    JCane's Avatar
    Administrator

    Status:
    Offline
    WPA:
    Join date:
    Jul 2008
    Posts:
    15,870
    vCash:
    8185
    Loc:
    Lauderville, Florilina
    Thanks / No Thanks
    Was American Idol cancelled and I just haven't heard about it?

    If not then don't expect fat lazy Americans to care about something petty such as how much money they should or could be making.

    Quote Quote  

  3. -3
    Perfect23's Avatar
    I wish people understood this

    Status:
    Offline
    WPA:
    Join date:
    Dec 2005
    Posts:
    4,285
    vCash:
    1522
    Loc:
    Earth
    Thanks / No Thanks
    Australia also has a smaller population than the U.S.
    Quote Quote  

  4. -4
    Tunaphish429's Avatar
    1st Ballot Hall of Famer

    Status:
    Offline
    WPA:
    Join date:
    Aug 2009
    Posts:
    8,637
    vCash:
    1649
    Loc:
    CUSE
    Thanks / No Thanks
    Quote Originally Posted by TruePoizon View Post
    The minimum wage in Australia is $15 an hour, which is about $14.80 American. Yet here its $7.25...

    What a joke. How has anyone not seen this and been angered by it to speak/stand up about it?
    Small bussiness owners would be killed by wages that are this high...Can you imagine how much a Cheeseburger would cost at mcdonalds if they had to pay ppl this much? I want ppl to make as much money as possible but costs would rise as a result..
    Quote Quote  

  5. -5
    Locke's Avatar
    They looked like strong hands.

    Status:
    Offline
    WPA:
    Join date:
    Aug 2008
    Posts:
    8,676
    vCash:
    3456
    Loc:
    Albuquerque, NM
    Thanks / No Thanks
    Quote Originally Posted by Tunaphish429 View Post
    Small bussiness owners would be killed by wages that are this high...Can you imagine how much a Cheeseburger would cost at mcdonalds if they had to pay ppl this much? I want ppl to make as much money as possible but costs would rise as a result..
    People in Australia don't really eat at fast food places, but I understand the point you're making. It works there. I don't know the logistics of it, but they have a working economy so to say it can't work here is a fallacy. The problem is that would cut into the profit margin of these corporations, so they would never ever allow that kind of legislation to pass.

    Small business owners would be fine I think. They have a small number of employees, so it's not like a small fortune is being spent on them. Plus, this puts a significant amount of money in every American's pockets, which means they would be spending that money more freely at these small businesses...

    If I could take your pain and frame it, and hang it on my wall,
    maybe you would never have to hurt again...

    Quote Quote  

  6. -6
    Tunaphish429's Avatar
    1st Ballot Hall of Famer

    Status:
    Offline
    WPA:
    Join date:
    Aug 2009
    Posts:
    8,637
    vCash:
    1649
    Loc:
    CUSE
    Thanks / No Thanks
    Quote Originally Posted by Locke View Post
    People in Australia don't really eat at fast food places, but I understand the point you're making. It works there. I don't know the logistics of it, but they have a working economy so to say it can't work here is a fallacy. The problem is that would cut into the profit margin of these corporations, so they would never ever allow that kind of legislation to pass.

    Small business owners would be fine I think. They have a small number of employees, so it's not like a small fortune is being spent on them. Plus, this puts a significant amount of money in every American's pockets, which means they would be spending that money more freely at these small businesses...
    What this is proposing is doubling the employee's wages....So if you had two you are now paying for four.. Thats a fact.. Also it may put money into ppl's pockets who were making less than that wage before, but do you think corporations or any other employer are going to be compelled to raise wages for current employees to offset for working experience and say education? I dont think so...Also you have to consider inflation with all products not just the mcondalds argument....


    Bottom line the way a small bussiness owner thinks is this way "How can I cut costs or raise prices to keep money in my pocket" If the owner was making 150 K before the increases in wages do you think they are going to settle to make 100K? Or even 125K? Nope they are going to raise prices or they may even cut help and make employees work 2 x as hard.. If there was no consequence to wages being raised I think its safe to say that the american minimum wage would be higher..

    Mcondalds is a corporation but is a franchise too, this gives the franchise owner the freedom to make or break his own location...He is going to decide how much money he makes via that formula above..There are alot of employess at fast food restaurants or even just a family owned restaurant...Sure if would even things out between the well off and not the so well off but I dont think the well off would not go down with a fight...
    Last edited by Tunaphish429; 09-28-2011 at 12:05 PM.
    Quote Quote  

  7. -7
    Locke's Avatar
    They looked like strong hands.

    Status:
    Offline
    WPA:
    Join date:
    Aug 2008
    Posts:
    8,676
    vCash:
    3456
    Loc:
    Albuquerque, NM
    Thanks / No Thanks
    Quote Originally Posted by Tunaphish429 View Post
    What this is proposing is doubling the employee's wages....So if you had two you are now paying for four.. Thats a fact.. Also it may put money into ppl's pockets who were making less than that wage before, but do you think corporations or any other employer are going to be compelled to raise wages for current employees to offset for working experience and say education? I dont think so...Also you have to consider inflation with all products not just the mcondalds argument.
    True, but people are also making twice of what they were making previously. Inflation isn't going to double. This is still a competition driven economy and you can only charge what people are willing to pay. Effectively, this gives people the ability to get out of their debt, and then pump that money back into their local economies. The only problem is that the biggest corporations will get hit somewhat hard by this since they have enormous work forces. It's going to cut into their profit margins, but realistically, they will be showing 500 million profit margins instead of 900 million profit margins. Boo f*cking hoo...
    Quote Quote  

  8. -8
    Clipse's Avatar
    mediocrity sucks

    Status:
    Offline
    WPA:
    Join date:
    Aug 2005
    Posts:
    13,001
    vCash:
    2576
    Loc:
    Fort Drum, New York
    Thanks / No Thanks
    Perhaps not $14.80, but I can definitely get behind an increase in minimum wage.
    Quote Quote  

  9. -9
    Tunaphish429's Avatar
    1st Ballot Hall of Famer

    Status:
    Offline
    WPA:
    Join date:
    Aug 2009
    Posts:
    8,637
    vCash:
    1649
    Loc:
    CUSE
    Thanks / No Thanks
    Quote Originally Posted by Locke View Post
    True, but people are also making twice of what they were making previously. Inflation isn't going to double. This is still a competition driven economy and you can only charge what people are willing to pay. Effectively, this gives people the ability to get out of their debt, and then pump that money back into their local economies. The only problem is that the biggest corporations will get hit somewhat hard by this since they have enormous work forces. It's going to cut into their profit margins, but realistically, they will be showing 500 million profit margins instead of 900 million profit margins. Boo f*cking hoo...
    Yea I get what your saying but then the stock marget starts to plummet cause corporations are cutting jobs and not profitting as much. And yes if wages doubled then soon the demand would go up for things like gas, cars, milk, food in general..All that is going to go up because everything is one circle..Minimum wage has gone up slowly..I think too slowly but in this fragile economy do you really want employers to cut jobs?
    Quote Quote  

  10. -10
    Locke's Avatar
    They looked like strong hands.

    Status:
    Offline
    WPA:
    Join date:
    Aug 2008
    Posts:
    8,676
    vCash:
    3456
    Loc:
    Albuquerque, NM
    Thanks / No Thanks
    Quote Originally Posted by Tunaphish429 View Post
    Yea I get what your saying but then the stock marget starts to plummet cause corporations are cutting jobs and not profitting as much. And yes if wages doubled then soon the demand would go up for things like gas, cars, milk, food in general..All that is going to go up because everything is one circle..Minimum wage has gone up slowly..I think too slowly but in this fragile economy do you really want employers to cut jobs?
    You can only cut so many jobs before your productivity as a company drops to the point where you're no longer profitable. Citibank can slash jobs, for example. However, they need a certain amount of tellers in each bank. If they only have 1 working and people have to wait 20-30 minutes to get their banking done, they'll get frustrated and go to a bank where it isn't a 30 minute ordeal to get a cashier's check. A contractor isn't going to get any contracts if he only employs 1 plumber and it takes that plumber 2 months to lay down pipes in a new office building. There will be jobs regardless. The issue with raising the minimum wage comes from the fact that the corporations would just send whatever jobs they could logistically outsource to China, India, The Philippines, or Mexico. But let's be honest, they are doing that anyway, so f*ck them.

    Even if demand is high, competition forces you to keep prices low. You can try to charge 15 bucks for a gallon of milk, but the guy next door is going to charge 14 bucks because the sacrifice of that dollar is offset by him selling more units than you. So you drop your price to 13, then he drops it to 12, and so on until it's as low as you can possibly have it without it being a loss. That aspect won't change regardless of how much money people have. These two companies also can't get together and decide to set their price at 15, that's collusion. Prices are going to be what the market demands. Anyone who tries to overcharge will go out of business because people will shop at the places with the lowest prices.

    The stock market would take a hit initially, no doubt about that. Once it recovers, I think stock prices will be higher than they were before the initial crash. All the extra cash the consumers have would be spent. In fact, doing this kind of just spreads the wealth. Instead of the CEOs of these corporations having that money, it's spread to the employees, who then reinvest it in the economy. That's what Reaganomics was supposed to do. Give the rich a tax cut so they could pay their employees as much as possible, which would allow the employees to reinvest the money into the economy. It didn't really work that way sadly. They got their tax cuts, but instead of paying their employees more, they laid them off and outsourced their jobs...
    Quote Quote  

Similar Threads

  1. Minimum Wage Rises 70 Cents
    By BAMAPHIN 22 in forum Political | War Forum
    Replies: 13
    Last Post: 07-28-2008, 09:42 PM
  2. Minimum wage hike could hurt some
    By BAMAPHIN 22 in forum Political | War Forum
    Replies: 24
    Last Post: 07-24-2007, 02:09 PM
  3. Who benefits most from a minimum wage increase?
    By PhinPhan1227 in forum Political | War Forum
    Replies: 16
    Last Post: 11-19-2006, 03:50 PM
  4. Bid to increase minimum wage nixed
    By BAMAPHIN 22 in forum Political | War Forum
    Replies: 136
    Last Post: 06-25-2006, 11:56 PM
  5. States Aim to Raise Minimum Wage
    By BAMAPHIN 22 in forum Political | War Forum
    Replies: 6
    Last Post: 05-10-2006, 01:56 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •