To reignite the economy, reduce the minimum wage (among other things)

[Usui Takumi 1,562]

Just ran the numbers through a calculator and I get 1960 minimum wage equaling = 7 dollars @ rate of 600.5% inflation for 2007.

[zqt3344 21]

Why don't you display how you arrived at this number for everyone to see.

Just ran the numbers through a calculator and I get 1960 minimum wage equaling = 7 dollars @ rate of 600.5% inflation for 2007.

[Jenn! 918]

Minimum Wage 1955-2009

[Usui Takumi 1,562]

I used 1 dollar for 1960 and plugged it into here: http://www.usinflationcalculator.com/

[Jenn! 918]

I used 1 dollar for 1960 and plugged it into here: http://www.usinflationcalculator.com/

They didn't annualize the inflation rate.

[w¡n9Nµ7 §£@¥€r 123]

annualize?

rate?

sounds like fuzzy librul math to me.

[Jenn! 918]

[SMR 368]

Minimum Wage 1955-2009

A day of unskilled labor is worth a day of unskilled labor. You can't legislate it. When retailers are forced to pay cashiers more, prices go up. The cashiers turn around and can't buy any more than they used to because everything costs more. Manufacturing goes over seas because the government is penalizing those companies that don't outsource.

Explain to me again how legislating minimum wage is a good thing?

[one...two...tree 2,762]

Minimum Wage 1955-2009

A day of unskilled labor is worth a day of unskilled labor. You can't legislate it. When retailers are forced to pay cashiers more, prices go up. The cashiers turn around and can't buy any more than they used to because everything costs more. Manufacturing goes over seas because the government is penalizing those companies that don't outsource.

Explain to me again how legislating minimum wage is a good thing?

Low wage jobs will go overseas? Explain how Walmart and other retail stores would be forced to go overseas to hire cheaper labor to run the cash register?

Edited December 14, 2009 by Galt's gallstones

[Niels Bohr 72]

Looks like I have to agree with SMR, Danno, and other around here regarding minimum wage. It should be deregulated.

[rika60607 215]

Bad idea.

I would prefer to work for a decent wage part time, rather than work full time for a low wage. I think most people would feel the same.

Yes, increasing the pool of the working poor - those with virtually no disposable income - will re-ignite this consumer driven economy. Brilliant!

Increase the pool of the working poor by decreasing the pool of the unemployed poor. Bad idea?

[one...two...tree 2,762]

Bad idea.

I would prefer to work for a decent wage part time, rather than work full time for a low wage. I think most people would feel the same.

Yes, increasing the pool of the working poor - those with virtually no disposable income - will re-ignite this consumer driven economy. Brilliant!

Increase the pool of the working poor by decreasing the pool of the unemployed poor. Bad idea?

Not only that, it would weaken the dollar significantly.

[Niels Bohr 72]

I've seen so many factories, mills here in the Northeast being moved overseas. They can't compete with stuff made from India, or China if those factories remain in the US. I'd have to support deregulation of minimum wage.

[one...two...tree 2,762]

I've seen so many factories, mills here in the Northeast being moved overseas. They can't compete with stuff made from India, or China if those factories remain in the US. I'd have to support deregulation of minimum wage.

Manufacturing job loss in this country is due to people wanting cheaper products and not because we pay our factory workers too much. And that really only applies to industries where the consumer is choosing a toilet bowl brush made in China vs. one made in the USA. Thank you Walmart for leading the way.

[Darnell 8,479]

I truly think that the minimum wage should be age specific.

16 to 17, less than 'normal'

18 and up, normal.