No, we shouldn't raise the minimum wage (really, we should abolish it)

 
More Than Mortal
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This is the way the world ends. Not with a bang but a whimper.


It's fairly simple.

If you want to reduce poverty, use wage subsidies.


Forgewolf | Heroic Unstoppable!
 
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We always say to fight fire, you must use fire. This is wrong. Fighting fire with fire will leave scars and a new flame will rise. We must instead use water. It is the opposite of fire, it extinguishes the fire, it cools, it refreshes, it heals. We are made up of 70% water, we are not made up of 70% fire. Please practice what we truly are
Think it would help or reduce the cost of living too?


 
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Sandtrap
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I'm sitting here. And I'm looking at your picture. And I realize that I'M NOT PRECISELY SURE WHAT THE FUCK I'M LOOKING AT. I get the point. Obviously, raising minimum wage won't solve anything. Money value changes in one corner effect everything else.

So where a guy would get 15 instead 10 and think he'd be earning more, the prices of everything else would be jacked up to compensate, resulting in the same end really.

Some poor ass mother fuckers. Love my terrible math/graph skills by the way?



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Sick humour, no respect.

I'm sitting here. And I'm looking at your picture. And I realize that I'M NOT PRECISELY SURE WHAT THE FUCK I'M LOOKING AT. I get the point. Obviously, raising minimum wage won't solve anything. Money value changes in one corner effect everything else.

So where a guy would get 15 instead 10 and think he'd be earning more, the prices of everything else would be jacked up to compensate, resulting in the same end really.

Some poor ass mother fuckers. Love my terrible math/graph skills by the way?
yup. You're math is the kind of math I understand.


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This graph takes me back to my first year of uni.


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If I'm not here, I'm doing photography. Or I'm asleep. Or in lockdown. One of those three, anyway.

The current titlebar/avatar setup is just normal.
I've seriously no idea what the graph is showing me. Care to explain for the economically retarded?


 
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the only thing i don't understand is what exactly a wage subsidy entails
and precisely why it is better


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I've seriously no idea what the graph is showing me. Care to explain for the economically retarded?


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the only thing i don't understand is what exactly a wage subsidy entails
and precisely why it is better

The government would pay companies to give higher wages. It's basically a negative income tax but is logistically accomplished at the payroll level, not the individual employee. It is better because it doesn't artificially raise the value of jobs, and the biggest issue with minimum wage is how few people it helps to those it harms. A minimum wage increase typically doesn't entail a raise for those earning hourly wages above the minimum.

Say you work an hourly job at $11/hr. If the minimum wage is raised from $8/hr to $10/hr, your job has just lost $2/hr in value. Now, some jobs will adjust their wages to give everyone above a bit of a raise, but that's becoming increasingly less common. A minimum wage increase disproportionately harms the people making more per hour.

A wage subsidy affects everyone under a certain income level, progressively.
Last Edit: April 16, 2015, 12:25:15 PM by HurtfulTurkey


 
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This is the way the world ends. Not with a bang but a whimper.
I've seriously no idea what the graph is showing me. Care to explain for the economically retarded?
It's a demand-supply graph about labour, showing the different effects of either a minimum wage or a subsidy. Essentially, the minimum wage acts as a tax wedge, which increases wages but decreases the available quantity of labour.

A government subsidy, paid either to employers or workers, has the same effect on wages while increasing the quantity of labour in the market.


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the evidence is simply right in front of our eyes



 
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Weren't you in favor of some sort of citizens wage a while back?


 
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This is the way the world ends. Not with a bang but a whimper.
Weren't you in favor of some sort of citizens wage a while back?
I am, for people on zero income.


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If I'm not here, I'm doing photography. Or I'm asleep. Or in lockdown. One of those three, anyway.

The current titlebar/avatar setup is just normal.
I've seriously no idea what the graph is showing me. Care to explain for the economically retarded?
It's a demand-supply graph about labour, showing the different effects of either a minimum wage or a subsidy. Essentially, the minimum wage acts as a tax wedge, which increases wages but decreases the available quantity of labour.

A government subsidy, paid either to employers or workers, has the same effect on wages while increasing the quantity of labour in the market.

Ah ok.

But where would this subsidy money come from exactly? Sure the government may be dishing it out, but would this cut in to other stuff or would added taxes have to be raised to pay for it?


 
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I think the problem lies with "we should abolish the minimum wage" creates the outrage, but often drops the more important part of "and replace it with (x)"


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the evidence is simply right in front of our eyes


You must simply examine and separate the dopoplex and combobulators to obtain the answer. I await your retort.

you are clearly devoid of any education concerning the art of sinusoidal wavelength detection in the 3 dimensional matrix of economic trends



come back after you've done some basic research
 

 


 
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I DONT GIVE A SINGLE -blam!- MOTHER -blam!-ER ITS A MOTHER -blam!-ING FORUM, OH WOW, YOU HAVE THE WORD NINJA BELOW YOUR NAME, HOW MOTHER -blam!-ING COOL, NOT, YOUR ARE NOTHING TO ME BUT A BRAINWASHED PIECE OF SHIT BLOGGER, PEOPLE ONLY LIKE YOU BECAUSE YOU HAVE NINJA BELOW YOUR NAME, SO PLEASE PUNCH YOURAELF IN THE FACE AND STAB YOUR EYE BECAUSE YOU ARE NOTHING BUT A PIECE OF SHIT OF SOCIETY
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the evidence is simply right in front of our eyes


You must simply examine and separate the dopoplex and combobulators to obtain the answer. I await your retort.

you are clearly devoid of any education concerning the art of sinusoidal wavelength detection in the 3 dimensional matrix of economic trends



come back after you've done some basic research
You're a joke. A child could understand the simplicators must be aligned with differentializers to achieve the true function suspendamatrons.

How about you do some basic research.

piss off with this simpleton garbage, what truly segregates the layman from his intellectual superior is one's comprehension of the metaphysical pseudo organic economy facilitated through Hypothalaminian manipulation



if only you lived in a first world country.


 
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This is the way the world ends. Not with a bang but a whimper.
The sad thing is you two totally sound like you could be economists right now.


 
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This is not the greatest sig in the world, no. This is just a tribute.
10/10 thread
If only econ could always be this fun.


 
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This is the way the world ends. Not with a bang but a whimper.
10/10 thread
If only econ could always be this fun.


econ loves you


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You fools. You clearly have no idea what you're talking about.


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You fools. You clearly have no idea what you're talking about.

>missed the party


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You fools. You clearly have no idea what you're talking about.

>missed the party
Fuck.

This is what I get for being at work.


 
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I DONT GIVE A SINGLE -blam!- MOTHER -blam!-ER ITS A MOTHER -blam!-ING FORUM, OH WOW, YOU HAVE THE WORD NINJA BELOW YOUR NAME, HOW MOTHER -blam!-ING COOL, NOT, YOUR ARE NOTHING TO ME BUT A BRAINWASHED PIECE OF SHIT BLOGGER, PEOPLE ONLY LIKE YOU BECAUSE YOU HAVE NINJA BELOW YOUR NAME, SO PLEASE PUNCH YOURAELF IN THE FACE AND STAB YOUR EYE BECAUSE YOU ARE NOTHING BUT A PIECE OF SHIT OF SOCIETY
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This is the way the world ends. Not with a bang but a whimper.
If only you could understand the metaphysical aspects of the economic entrencheneurial attachments.

wat


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the evidence is simply right in front of our eyes


You must simply examine and separate the dopoplex and combobulators to obtain the answer. I await your retort.

you are clearly devoid of any education concerning the art of sinusoidal wavelength detection in the 3 dimensional matrix of economic trends



come back after you've done some basic research
You're a joke. A child could understand the simplicators must be aligned with differentializers to achieve the true function suspendamatrons.

How about you do some basic research.

piss off with this simpleton garbage, what truly segregates the layman from his intellectual superior is one's comprehension of the metaphysical pseudo organic economy facilitated through Hypothalaminian manipulation



if only you lived in a first world country.
If only you could understand the metaphysical aspects of the economic entrencheneurial attachments.

compile all your knowledge into one massive super-cluster of omnipotence

the result is simple



we speak the same language through a different conduit