birdog1960 Posted March 20, 2013 Share Posted March 20, 2013 Your proposal would certainly give us the chance to find out. You are one delusional, ignorant dude. $30 happy meals anyone? you picked one of the few industries where higher minimum wages might have a very significant price effect. so what's your guess. what proportion of the cost of a cheeseburger is represented by the wages of minimum wage workers? 30%? 40? so raising the minimum wage 30% raises the cost of a cheeseburger 12%. you're going to be paying $1.12 for your 99 cent double cheese burger. the horror! and what would we all do without fast food? probably be much healthier. Link to comment Share on other sites More sharing options...
DC Tom Posted March 20, 2013 Share Posted March 20, 2013 you picked one of the few industries where higher minimum wages might have a very significant price effect. so what's your guess. what proportion of the cost of a cheeseburger is represented by the wages of minimum wage workers? 30%? 40? so raising the minimum wage 30% raises the cost of a cheeseburger 12%. you're going to be paying $1.12 for your 99 cent double cheese burger. the horror! and what would we all do without fast food? probably be much healthier. Darin tells you that you don't know what you're talking about, and your response is to prove it. Awesome. Link to comment Share on other sites More sharing options...
3rdnlng Posted March 20, 2013 Share Posted March 20, 2013 Anybody know the demographics of the workers in the fast food industry? Link to comment Share on other sites More sharing options...
birdog1960 Posted March 20, 2013 Share Posted March 20, 2013 (edited) Darin tells you that you don't know what you're talking about, and your response is to prove it. Awesome. you mean like your comments on non reproducing, engineered grain? perhaps adding something to the debate other than an ad hominem attack would be productive? Anybody know the demographics of the workers in the fast food industry? it's clear that there is an agenda to make it difficult for some in this demographic to vote. apparently you support this. Edited March 20, 2013 by birdog1960 Link to comment Share on other sites More sharing options...
DC Tom Posted March 20, 2013 Share Posted March 20, 2013 perhaps adding something to the debate other than an ad hominem attack would be productive? You're arguing the inflationary pressures of wage increases on a cheeseburger-by-cheeseburger basis. My ad hominem attacks add far more to the debate than your attempts at substance. I wish MDP were still here...I'd like to see how your cheeseburger economics dovetails with his labor-based hammer currency theories. Link to comment Share on other sites More sharing options...
birdog1960 Posted March 20, 2013 Share Posted March 20, 2013 You're arguing the inflationary pressures of wage increases on a cheeseburger-by-cheeseburger basis. My ad hominem attacks add far more to the debate than your attempts at substance. I wish MDP were still here...I'd like to see how your cheeseburger economics dovetails with his labor-based hammer currency theories. just responding to darin's assertion of the price of a happy meal on the micro level that he established. maybe tomorrow i'll link to some macro arguments i alluded to earlier that industries that predominantly sell to these workers would actually do better after a minimum wage increase. Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted March 20, 2013 Share Posted March 20, 2013 you picked one of the few industries where higher minimum wages might have a very significant price effect. so what's your guess. what proportion of the cost of a cheeseburger is represented by the wages of minimum wage workers? 30%? 40? so raising the minimum wage 30% raises the cost of a cheeseburger 12%. you're going to be paying $1.12 for your 99 cent double cheese burger. the horror! and what would we all do without fast food? probably be much healthier. You stupid !@#$... Darin's point is illustrative of the entire food industry, both prepared and non. Cheeseburgers aside, how do you feel about $20 heads of lettuce? Link to comment Share on other sites More sharing options...
Meathead Posted March 20, 2013 Share Posted March 20, 2013 how do you feel about $20 heads of lettuce? id have voted for one before romney Link to comment Share on other sites More sharing options...
birdog1960 Posted March 20, 2013 Share Posted March 20, 2013 You stupid !@#$... Darin's point is illustrative of the entire food industry, both prepared and non. Cheeseburgers aside, how do you feel about $20 heads of lettuce? you rude mechanical, show me where a large group of economists predict rampant inflation based on a minimum wage hike. many predict a stimulative effect to the economy as dollars in the lowest socioeconomic group will be spent and not saved unlike what happens when money is pumped into big banks and businesses. additionally it won't be money printed by the govt but taken from profits of the same individuals that for the last 5 years have been sitting on piles of cash. Link to comment Share on other sites More sharing options...
Nanker Posted March 20, 2013 Share Posted March 20, 2013 You do realize that this board doesn't have many "cons" don't you? : a conservative who advocates the assertive promotion of democracy and United States national interest in international affairs including through military means http://www.merriam-w...neoconservative Actually, neocon is a pejorative term coined by the lefties to dis Jewish American hawks. Sort of like them calling Clarence Thomas an Uncle Tom. Link to comment Share on other sites More sharing options...
3rdnlng Posted March 20, 2013 Share Posted March 20, 2013 you mean like your comments on non reproducing, engineered grain? perhaps adding something to the debate other than an ad hominem attack would be productive? it's clear that there is an agenda to make it difficult for some in this demographic to vote. apparently you support this. Yes you dunce, some people would prefer that this demographic not vote since more than likely they aren't of age to vote. You don 't do sarcasm well, but then again you don't do non-sarcasm well either. Link to comment Share on other sites More sharing options...
birdog1960 Posted March 20, 2013 Share Posted March 20, 2013 Yes you dunce, some people would prefer that this demographic not vote since more than likely they aren't of age to vote. You don 't do sarcasm well, but then again you don't do non-sarcasm well either. not at all sure that's true. most that i see appear to be over 18. maybe out in the posh suburbs. in rural area it's different. Link to comment Share on other sites More sharing options...
GG Posted March 20, 2013 Share Posted March 20, 2013 just responding to darin's assertion of the price of a happy meal on the micro level that he established. maybe tomorrow i'll link to some macro arguments i alluded to earlier that industries that predominantly sell to these workers would actually do better after a minimum wage increase. Of course the tobacco, alcohol & the lottery biz would do great if minimum wages were increased. But seriously, you know how you doctors look down upon amateurs downloading wiki medical articles to self diagnose? I recommend the same for you regarding finance. Minimum wage is prevalent in industries with low skill labor in industries that have thin margins and very little pricing power. So if you increase the direct input cost of labor, the owner won't be able to pass the rise to the customer meaning that his already razor thin margin gets squeezed more. Many of these firms would go out of business, leading to greater unemployment. In effect you would be recreating the European economies of permanent 10% unemployment, low economic growth and reliance on the US and China to move your economies. But hey, you'd score points at the cocktail circuit because you fought for the little guy and stuck it to the business owners. Link to comment Share on other sites More sharing options...
birdog1960 Posted March 20, 2013 Share Posted March 20, 2013 Of course the tobacco, alcohol & the lottery biz would do great if minimum wages were increased. But seriously, you know how you doctors look down upon amateurs downloading wiki medical articles to self diagnose? I recommend the same for you regarding finance. Minimum wage is prevalent in industries with low skill labor in industries that have thin margins and very little pricing power. So if you increase the direct input cost of labor, the owner won't be able to pass the rise to the customer meaning that his already razor thin margin gets squeezed more. Many of these firms would go out of business, leading to greater unemployment. In effect you would be recreating the European economies of permanent 10% unemployment, low economic growth and reliance on the US and China to move your economies. sometimes fairly often in fact, patients are quite insightful about their problems after informal study. in the case of the minimum wage it's deleterious effects on employment are not borne out by history, nor are it's effects on inflation But hey, you'd score points at the cocktail circuit because you fought for the little guy and stuck it to the business owners. unfortunately your assertions in regards to unemploytment and inflation are not borne out by history: http://www.epi.org/publication/briefingpapers_min_wage_bp/ Link to comment Share on other sites More sharing options...
Magox Posted March 20, 2013 Share Posted March 20, 2013 Actually, neocon is a pejorative term coined by the lefties to dis Jewish American hawks. Sort of like them calling Clarence Thomas an Uncle Tom. I don't really see the distinction between the two. Link to comment Share on other sites More sharing options...
Chef Jim Posted March 20, 2013 Share Posted March 20, 2013 you picked one of the few industries where higher minimum wages might have a very significant price effect. so what's your guess. what proportion of the cost of a cheeseburger is represented by the wages of minimum wage workers? 30%? 40? so raising the minimum wage 30% raises the cost of a cheeseburger 12%. you're going to be paying $1.12 for your 99 cent double cheese burger. the horror! and what would we all do without fast food? probably be much healthier. Holy contradiction batman!! Oh and two words. Food Chain. Link to comment Share on other sites More sharing options...
birdog1960 Posted March 20, 2013 Share Posted March 20, 2013 (edited) Holy contradiction batman!! Oh and two words. Food Chain. did you read the analysis i linked to. historically, increases in minimum wage has not been accompanied by significant inflation or unemployment, even among teens. why would you expect this time to be any different? what is the evidence to the contrary? but returing to the micro analysis, even making the ridiculous assumption that 100% of production and sale of the burger (including raw materials) was attributable to minimum wage labor and the minimum wage increases 30%, its still only a $1.30 cheeseburger. this will be more than offset by the minimum wage workers increased wages Edited March 20, 2013 by birdog1960 Link to comment Share on other sites More sharing options...
Chef Jim Posted March 20, 2013 Share Posted March 20, 2013 did you read the analysis i linked to. historically, increases in minimum wage has not been accompanied by significant inflation or unemployment, even among teens. why would you expect this time to be any different? what is the evidence to the contrary? but returing to the micro analysis, even making the ridiculous assumption that 100% of production and sale of the burger (including raw materials) was attributable to minimum wage labor and the minimum wage increases 30%, its still only a $1.30 cheeseburger. this will be more than offset by the minimum wage workers increased wages Because there has never (at least to my knowledge) been an increase of this amount. You're fixated with the $1 value meal. How about the $8 burger that would now be nearly $10.50. Link to comment Share on other sites More sharing options...
birdog1960 Posted March 20, 2013 Share Posted March 20, 2013 (edited) more evidence against a negative effect on the economy: http://prospect.org/...-affect-economy. note that the cost to employers for an increase to $9/hour is $11billion. compared to the bank bailouts that's a pittance. and i'd go for his idea of increasing the earned income tax credit too. so where's the contrarian evidence of any type regardless of size of minimum wage increase? i don't think it exists other than that mentioned in this article which was not statistically significant. the other sides argument appears to be "because we say so". Edited March 20, 2013 by birdog1960 Link to comment Share on other sites More sharing options...
Magox Posted March 20, 2013 Share Posted March 20, 2013 I honestly don't believe an increase to $9/hr would have much of a negative impact to the economy. It may harm some small businesses, but I would venture to guess that it would have negligible effect. Of course on the flip side, that is an additional $11 Billion (from bd's link) that would be placed into the economy, and my guess is that most of those funds would be saved and recycled back into the economy. I may be wrong. Maybe a two tiered Minimum wage plan, one for small businesses, and a second for corporations. Or maybe they can make it two tiered based off the amount of employees that are employed. I don't know, but I believe that many of the corporations are able to easily withstand a minimal increase. But as someone a little earlier pointed out, most companies are paying higher than the minimum wage as it is, so I'm not quite sure how many people it would help. Link to comment Share on other sites More sharing options...
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