Dave1952 
Member since Aug 12, 2017


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Re: “How to reduce poverty: Boost workers' wages

Mr McKenzie


Where do you get your information and facts?

I don't mean to be personal or condescending but your comments are way off the reality reservation.

I would be very interested in knowing your sources that have lead you to your post / conclusions.

Personally I am concerned about the need to raise incomes. My focus is more on the increase in wages of the MIDDLE class which have not seen an increase in real terms for close to 19 years. The last 18 years have seen terrible political policies that have decimated incomes of the middle class and the poor. The last 8 years have been horrific.

I go back to the question? What is a fair Minimum Wage? How should it be determined? Certainly not by plucking a number out of the SKY, e.g.$15.
We know $13 an hour closed a lot of businesses in Washington St.

Tied to inflation is certainly not the answer as I have demonstrated with factual data.

Have a good day.

10 likes, 0 dislikes
Posted by Dave1952 on 08/15/2017 at 1:33 PM

Re: “How to reduce poverty: Boost workers' wages

Dear Miller
What is a modest increase? $1 dollar, $15 dollars? We have seen the results / consequences of a rapid increase of the the minimum wage raised by the state of Washington to $13 dollars from $7.25 over a relatively short period of time. It has had the opposite of the intention of benefiting the worker(s).
The linked to INFLATION idea is an interesting suggestion. My question then would be 'what does one do when there is DEFLATION'? Do we reduce the MW? The answer would most likely be NO. Needless to say.
The current stats from January to July show that inflation has been declining, e.g., January' rate 2.5%, July's is 1.73%. There are charts out there which can be referenced that will show each months inflation rate. Suffice it to say inflation is currently on the decline.
The majority of MW jobs are entry level positions and it is then up to the individuals own motivations to improve oneself and start to climb the ladder of success.
Have a great day.

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Posted by Dave1952 on 08/14/2017 at 7:55 AM

Re: “How to reduce poverty: Boost workers' wages

My goodness. I read the article and was amazed at how many flawed assumptions were cited.
Many people think or should I say believe that the minimum wage supports raising income of full-time Adults and or low income families. The economic research does NOT support this whatsoever.
49% of workers earning the minimum wage are teenagers. A large majority of these workers, approximately 62% of the 49%, live in families with 2 adults working with incomes over the poverty level.
The most recent research I have read is that only 4.7% of adults working full time earn wages under the poverty level.
Getting back to the minimum wage and the effects on business.
Businesses make adjustments to pay for added cost. Dramatically raising the MW will reduce employment, reducing employee hours, and consequently raise
prices. This is completely the opposite of the stated intention in the authors article.
Policymakers, some not all, believe that this will help solve a poverty issue, but what they truly want is tax revenue. BAD way to increase money to the coffers of State, Local and Federal governments.
There is an economic concept which economist, credible ones, rely on, which is the Basic Competitive Model pertaining to this subject.
There is also one known as the Institutional Model, which is flawed.
In the author's article it appears to me that the the Institutional Model is what is being proposed.
The competitive model relies on basic economics, simply put supply and demand.
The Institutional Model relies on the fact that markets are imperfect among other assumptions such as social factors,,, tech factors of firms and so on.
The best way to INCREASE wages is to increase ECONOMIC activity, increase GDP, and REDUCE TAXES. It works every time and yes it reduces POVERTY faster than any politician has ever done.
Saying that 2% GDP is normal for our country is absurd, However, GDP 2% or lower will help CREATE MORE POVERTY and GOVERNMENT DEPENDENCY!! Have a great rest of the week end folks.

11 likes, 0 dislikes
Posted by Dave1952 on 08/12/2017 at 12:44 PM

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