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$10 Minimum Wage Proposal Has Growing Support From White House - NY Times

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$10 Minimum Wage Proposal Has Growing Support From White House

Wage-articleLarge.jpg
Representative George Miller, left, and Senator Tom Harkin introduced a bill in March to increase the federal minimum wage.

By CATHERINE RAMPELL and STEVEN GREENHOUSE
Published: November 7, 2013

The White House has thrown its weight behind a proposal to raise the federal minimum wage to at least $10 an hour.

“The president has long supported raising the minimum wage so hard-working Americans can have a decent wage for a day’s work to support their families and make ends meet,” a White House official said.

President Obama, the official continued, supports the Harkin-Miller bill, also known as the Fair Minimum Wage Act, which would raise the federal minimum wage to $10.10 an hour, from its current $7.25.

The legislation is sponsored in the Senate by Tom Harkin of Iowa and in the House by George Miller of California, both Democrats. It would raise the minimum wage — in three steps of 95 cents each, taking place over two years — to $10.10, and then index it to inflation. The legislation will probably be coupled with some tax sweeteners for small businesses, traditionally the loudest opponents of increases to the minimum wage.

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Well at the very least it's better than the radical $15 an hour proposal. Hopefully this movement gains more support, and is eventually ratified in the near future.

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If minimum wage raises to $10, I would definitely want a raise on my current pay.  Call if selfish, I don't care.

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I'm mixed on this: sure getting $10 per hour is good, but what about the small businesses? I don't think they can afford that kind of price without some assistance. The big companies can survive, but it's minimum wage for a reason. It's a low end job, but people can't expect to live off of that kind of salary a year. Of course there's also the issue of not enough jobs... Just no good solutions in either case.

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I've always been apprehensive about a national minimum wage; what's appropriate for Iowa may not necessarily be what's appropriate for New York.

 

Then again, with the cost of gas and car insurance these days, you'd probably end up losing money on a minimum wage job in those states.

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I'm mixed on this: sure getting $10 per hour is good, but what about the small businesses? I don't think they can afford that kind of price without some assistance. The big companies can survive, but it's minimum wage for a reason. It's a low end job, but people can't expect to live off of that kind of salary a year. Of course there's also the issue of not enough jobs... Just no good solutions in either case.

 

Yes I will have to agree with the fact that, as this is really good news for many who are living under the current minimum wage, this is sort of a vicious cycle. This country is only paying off debt at this point and inflation continues to increase with the cost of goods and services. The argument is that if the minimum wage increases then inflation increases. However there are many Americans out there who desperately needs wage increases. Catch 22. 

 

It seems that according to the bill being proposed that there may be tax incentives for the small businesses to compensate for the higher costs of payroll, perhaps through deductions, exemptions and credits.

 

I would say that if this is worked out correctly, this may be a good move, short term. But it's going to affect the capitalist model in the long run with costs rising again.

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You can't honestly believe that the minimum wage is going to make prices go up. It's an illusion to make people believe that the upper classes are strapped for cash when they really aren't. It's stupid. My current job's been paying me significantly higher than minimum wage and what?

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It's a low end job, but people can't expect to live off of that kind of salary a year

 

Except that's exactly what people do--and that's what many companies like McDonald's expect their employees to do. Hell, where would there even be the time for another job when you're working all your waking hours on minimum wage? 

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Except that's exactly what people do--and that's what many companies like McDonald's expect their employees to do. Hell, where would there even be the time for another job when you're working all your waking hours on minimum wage? 

And so it's McDonald's fault that these people didn't get proper educations? McDonald's isn't the real problem here.  The real problem here is we have a country that is less educated these days (despite all of these people going to college) and there are fewer and fewer good paying jobs out here in addition to also good paying jobs that can't be filled because the skilled people for these jobs don't exist, so as far as I'm concerned, the Obama administration is taking an easy way out.  They know that they need to be focusing on more manufacturing jobs which still pay well in many parts of the country and getting Americans retrained to get some of the better higher paying jobs.  That's what needs to happen here.  Unfortunately, our government has fallen in love with creating more and more low paying service jobs and so has the American consumer who demands cheaper products, so this is what we have now.  Fewer high paying manufacturing jobs and more and more low paying service jobs.  Obama seems to be getting a clue now by trying to woo more companies to either move back here or invest here and built facilities or re-open shuttered facilities to create more high paying manufacturing jobs or other high end skill jobs.

 

You can't honestly believe that the minimum wage is going to make prices go up. It's an illusion to make people believe that the upper classes are strapped for cash when they really aren't. It's stupid. My current job's been paying me significantly higher than minimum wage and what?

That's precisely what could happen. Most of the jobs in this country don't come from large rich corporations.  They are small businesses (mom and pop stores and other small businesses) that are struggling to make ends meet.  Those are the companies that would be forced to either cut back on staff, raise the prices of their goods and services or both.  It's as simple as that.   

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And so it's McDonald's fault that these people didn't get proper educations? McDonald's isn't the real problem here.  The real problem here is we have a country that is less educated these days (despite all of these people going to college) and there are fewer and fewer good paying jobs out here in addition to also good paying jobs that can't be filled because the skilled people for these jobs don't exist, so as far as I'm concerned, the Obama administration is taking an easy way out.  They know that they need to be focusing on more manufacturing jobs which still pay well in many parts of the country and getting Americans retrained to get some of the better higher paying jobs.  That's what needs to happen here.  Unfortunately, our government has fallen in love with creating more and more low paying service jobs and so has the American consumer who demands cheaper products, so this is what we have now.  Fewer high paying manufacturing jobs and more and more low paying service jobs.  Obama seems to be getting a clue now by trying to woo more companies to either move back here or invest here and built facilities or re-open shuttered facilities to create more high paying manufacturing jobs or other high end skill jobs.

 

You're really going to go down this road? Blaming people for not being able to shell out the unbelievable amounts of money for college in this country / not going to school when it was between providing for their family or an education? 

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You're really going to go down this road? Blaming people for not being able to shell out the unbelievable amounts of money for college in this country / not going to school when it was between providing for their family or an education? 

Yes I am because it isn't a money issue for everyone.  Notice that I said that many people go to college and still don't come out educated and just graduate with tons of debt.  They pick the wrong major and then shell out a fortune for it with no job to show for it.  It's actually a popular situation these days.  People graduating with a Political Science degree for example, paying a fortune or rather racking up debt, without a clue as to how they're going to pay for that debt.  

Edited by Via Garibaldi 8

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You can't honestly believe that the minimum wage is going to make prices go up.....

Well, If you have more working people making more money,  why would I not believe inflation (which is what you're describing) would happen? Prices of goods would not stay stagnant, and of course they wouldn't decrease.... Business owners are in it to (try to) make more money for themselves, not try to keep more money in your pockets by not making prices go up.....

 

Think about it.... If every working man on the planet made 100k (lol), there is no way in hell would you see dollar bottled waters, Mcdonalds having a dollar menu, and 99 cent stores wherever you currently see them..... Surely 100k is a blatant exaggeration, but the general point I'm making is, if you raise the minimum figure with which you can (legally) hire someone at, business owners (whether large corporations or on down to the local/communal level [i.e. "mom & pop" stores]) will most certainly look to take a bigger piece of your pie....

 

....It's an illusion to make people believe that the upper classes are strapped for cash when they really aren't. It's stupid. My current job's been paying me significantly higher than minimum wage and what?

I'm not understanding the point you're making with this.... I don't think anyone is saying, with increased minimum wage'll yield a decrease in earning potential.....

 

What I would be more worried about, is that many more people making closer (even if it's a penny more) to what you're (or anyone else is) currently making now..... It's a sign of things to come AFAIC.... There hasn't been one increase to our minimum wage where prices hasn't gone up.... It's directly proportional to the rise in costs of goods & services.....

 

Surely you remember when a slice of pizza & a soda costed 2 bucks..... Some places, you can't even get a damn slice for 2 bucks...

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Well, If you have more working people making more money,  why would I not believe inflation (which is what you're describing) would happen? Prices of goods would not stay stagnant, and of course they wouldn't decrease.... Business owners are in it to (try to) make more money for themselves, not try to keep more money in your pockets by not making prices go up.....

 

Think about it.... If every working man on the planet made 100k (lol), there is no way in hell would you see dollar bottled waters, Mcdonalds having a dollar menu, and 99 cent stores wherever you currently see them..... Surely 100k is a blatant exaggeration, but the general point I'm making is, if you raise the minimum figure with which you can (legally) hire someone at, business owners (whether large corporations or on down to the local/communal level [i.e. "mom & pop" stores]) will most certainly look to take a bigger piece of your pie....

 

I'm not understanding the point you're making with this.... I don't think anyone is saying, with increased minimum wage'll yield a decrease in earning potential.....

 

What I would be more worried about, is that many more people making closer (even if it's a penny more) to what you're (or anyone else is) currently making now..... It's a sign of things to come AFAIC.... There hasn't been one increase to our minimum wage where prices hasn't gone up.... It's directly proportional to the rise in costs of goods & services.....

 

Surely you remember when a slice of pizza & a soda costed 2 bucks..... Some places, you can't even get a damn slice for 2 bucks...

A better example of your point would be Switzerland... Very high standard of living... Waiters there make $60,000+ a year, but that's because a pizza or a plate spaghetti and meatballs is $40.00 (I kid you not).  A hot chocolate is $9.00... 

Edited by Via Garibaldi 8
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A better example of your point would be Switzerland... Very high standard of living... Waiters there make $60,000+ a year, but that's because a pizza or a plate spaghetti and meatball is $40.00 (I kid you not).  A hot chocolate is $9.00... 

Yep, that's a more better/practical example of the point, but you get it.....

 

Consumers may not agree with it, but w/ increased minimum wages will come increased prices.... Very basic point.

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You can't honestly believe that the minimum wage is going to make prices go up. It's an illusion to make people believe that the upper classes are strapped for cash when they really aren't. It's stupid. My current job's been paying me significantly higher than minimum wage and what?

 

Except that's exactly what people do--and that's what many companies like McDonald's expect their employees to do. Hell, where would there even be the time for another job when you're working all your waking hours on minimum wage? 

 

I see both arguments, and despite the fact that raising the minimum wage can affect the rate of inflation, well, that's not our problem. It was from the error of creating a promissory note which has no value, a stunt performed by the US Treasury back in 1918-19 that set the whole cycle off into monstrous debt. 

 

If it was'nt for the fact that we are in such debt because of failed ventures in politics generally speaking we would not be experiencing this problem. That being said I am rooting for this to push through congress because my human side says that obviously many poor Americans need a break already.

Edited by realizm

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You're really going to go down this road? Blaming people for not being able to shell out the unbelievable amounts of money for college in this country / not going to school when it was between providing for their family or an education? 

Yeah and I'll even add that most of the people with their decent jobs didn't even go to college.  

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In other news, the price of milk has risen to $5.50 a gallon...

 

Honestly, such a drastic jump in the minimum wage is uncalled for. I would be more in favor of legislation like this if it was "reasonable," say, a dollar or a dollar and 50 cents increase. But all the way to $10.10? This is going to blow up in people's faces in a decade or two, and then you're going to hear more "RAISE THE MINIMUM WAGE AGAIN" cries from people who don't know any better.

 

But then here is an honest question: would the opposite, say, lowering minimum wage, also result in a lowering of prices for commodities? 

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Regardless of anything this is literally simple Economics 101. If you raise the wages you would raise the cost of goods, but if you decrease wages you decrease the price of all goods.

 

The problem is currently the price of goods is going up without any increase in minimum wage income. I don't know if raising the wages would fix it, but the problem is if the wages go up will the prices of goods go up even farther?

 

Then again our dollar is becoming worthless anyway. Soaring inflation is destroying our dollar. The collapse of the dollar is not far in the future. It is about to happen.........

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I never understood why we never just indexed our minimum wage to inflation, instead of doing these very irregular jumps in minimum wage. This would be a $3 increase in minimum wage.

 

A better example of your point would be Switzerland... Very high standard of living... Waiters there make $60,000+ a year, but that's because a pizza or a plate spaghetti and meatballs is $40.00 (I kid you not).  A hot chocolate is $9.00... 

 

Switzerland is an iffy example, if only because it has an extremely strong currency; in times like these, Swiss fiscal discipline is seen as an ultimate market safe haven (and is a much better alternative to say, German fiscal discipline, which is based off of an unbalanced export model). It's gotten to the point where the Swiss central bank has stated its willingness to actually print money to stop the rise of its currency.

 

Currency speculation is a terrible thing in many cases, particularly in troubled times.

 

Then again our dollar is becoming worthless anyway. Soaring inflation is destroying our dollar. The collapse of the dollar is not far in the future. It is about to happen.........

 

And here we go with the alarmist rhetoric.

 

There is no forseeable replacement for the dollar as a reserve currency; it would have no replacement. Nothing is as readily available or as liquid as dollars; gold is not mined in large enough quantities to allow for free trade to occur as it does today, and in any case gives a natural advantage to countries with lots of gold deposits. The Chinese yuan is under strict capital controls, and immediate relaxation of all controls would probably cause economic turmoil in China. The euro project is barely chugging along, the Japanese are even more heavily indebted than we are, and the Swiss neither can nor want to print enough money to become the world currency.

 

Until the dollar is no longer the world's reserve currency, the dollar will not be subject to standard economic rules regarding inflation, supply/demand, etc. This is certainly no Deustchemark.

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Switzerland is an iffy example, if only because it has an extremely strong currency; in times like these, Swiss fiscal discipline is seen as an ultimate market safe haven (and is a much better alternative to say, German fiscal discipline, which is based off of an unbalanced export model). It's gotten to the point where the Swiss central bank has stated its willingness to actually print money to stop the rise of its currency.

 

Switzerland is a good example, in that the people are paid well, but goods and services are extremely high, though the other factor is the cost of living is also very high since it's such a small country with limited inventory.

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I don't know, but I also wonder why the buying power of a dollar is much weaker nowadays than what it used to be years ago, prices have been going up anyway so... It's whatever. With the money people are making from minimum wage stunts currently it's amazing how they can buy less and less every year. If things were a little different today, then yes, I'd have a better time believing the "inflation" thing that's been going on steadily...

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I don't know, but I also wonder why the buying power of a dollar is much weaker nowadays than what it used to be years ago, prices have been going up anyway so... It's whatever. With the money people are making from minimum wage stunts currently it's amazing how they can buy less and less every year. If things were a little different today, then yes, I'd have a better time believing the "inflation" thing that's been going on steadily...

lol... The dollar is weaker for a multitude of reasons...

 

http://business.time.com/2013/03/20/can-the-u-s-dollar-become-almighty-once-again/

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I don't know, but I also wonder why the buying power of a dollar is much weaker nowadays than what it used to be years ago, prices have been going up anyway so... It's whatever. With the money people are making from minimum wage stunts currently it's amazing how they can buy less and less every year. If things were a little different today, then yes, I'd have a better time believing the "inflation" thing that's been going on steadily...

You can choose not to believe it, but inflation is happening..... I mean, look at the very thing you're inquiring/"wondering" about....

That's the problem with fiat currency - the paper it's printed on only has as much value as the next man is willing to accept it (or, can exchange) for his goods/services... Otherwise, it's worthless.....

 

Try goin to barney's NY & paying for a belt or whatever with a couple of these bad boys:

$50.jpg

 

 

Anyway, why is the dollar so much weaker nowadays...

 

Well, for starters, as the exchange rate for the dollar declines, so does the value of it...

This paragraph from this article is telling:

"When Mr. Bush (43) took office in 2001, one Euro could buy 0.9363 dollars.

When Mr. Obama became president in 2009, one Euro could buy 1.2946 dollars.

 

At 9:08 Eastern Standard Time on October 22, 2013, one Euro could buy 1.3731 dollars. The US dollar has declined in value as one Euro can buy more and more dollars."

 

Another reason the dollar is weakening.... Well, that number that you always see increasing whenever you look up & walk over by Times Square (national debt) isn't helping either.....

 

 

lol... The dollar is weaker for a multitude of reasons...

 

http://business.time.com/2013/03/20/can-the-u-s-dollar-become-almighty-once-again/

lol @ Petro-currency.... The Russians & the Saudi's will love that.....

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Yeah. I'm also looking at the Wall Street bankers and stuff, raking in the money with insider trading scandals that have yet to be uncovered...

 

Ever seen the movie Wall Street? Pretty interesting.

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