So I was walking to work the other day when a man approached me...

[Ted Striker]

None of you Silver Spoon Reactionaries have shown anything historical other than your own [inflated] opinions and unproven theories

[Tingkai]

Originally posted by Adam Smith
The Card and Krueger study has been discredited. Card and Krueger asked managers what they thought would happen to hours woprked if the minimum wage was raised. A subsequent study (by Murphy and Welsch IIRC) looked at the actual time cards in the same establishments and and found the same empirical results that all the previous studies did ... a ten percent rise in the minimum wage (after adjusting for inflation) reduces employment by about three percent.

Did the study look at jobs created in other businesses? If workers have more money to spend then that would create jobs.

[Kuciwalker]

Originally posted by Ted Striker
None of you Silver Spoon Reactionaries have shown anything historical other than your own [inflated] opinions and unproven theories

A lefty talking about unproven theories? go look at che, who's regularly spouting the crap you were posting on the previous page.

[Kuciwalker]

Originally posted by Ted Striker
By the way, during the minimum wage freeze, purchasing power for minimum wage earners went down, while inflation kept going up. Kinda defeats your whole theory.

You're the one who said

Inflation is caused by many factors.

By the way you never answered my question, is the minimum wage good or bad?

Depends on the minimum wage...

[Drake Tungsten]

Housing costs in CA have clearly driven Ted and others insane.

[Donegeal]

Heres a little breakdown for Ted:

Apolyton Coffee Shop
Owned by Mark and Dan, who split the profits evenly.
Maganed by Ming, MtG, Rah and UR, who all make $10/hr working fulltime (8 hrs a day).
Operated by 30 Apolytoners, each making $5/hr (also working fulltime).

Minimun wage goes up to $7/hr.

Cost to run the Coffee Shop raised $480 a day.

That means that profit is now down $480 a day.

Now for increased spending, lets say that the employees now spend 50% of their increased wages at the coffeshop (I know that they wouldn't, but I put it there to represent the increased spending from those chumps who work for minimum wage over at the Eventis Doughnut House) It now means that Mark and Dan are now making $120 less every day.

This is your redistribution of wealth. However, it doesn't stop there.

Mark: Hey Dan, I'm making less money!
Dan: Me too! This sucks!
Mark: I know what to do! Lets raise prices so we are making the same amount of money as we were!

So now your $7/hr buys you the same as it used to buy at $5/hr, only now your individual dollar is worth less.

[Ted Striker]

Originally posted by Kuciwalker


You're the one who said

Inflation is caused by many factors.

Depends on the minimum wage...

Yep, and you still have NEVER proven that increasing the wage directly causes inflation. And even if it did (which you haven't proven) there are other factors (among many) that drive it up more significantly that we should worry about.

I showed you a historical timeline where the wage was frozen, and inflation still went up anyway.

You have nothing other than hypothosis.

But why should you care what poor people do for a living?

I wonder what increasing the minimum wage would do to the price of bathroom fixtures?

[Ted Striker]

Originally posted by Donegeal
Heres a little breakdown for Ted:

Apolyton Coffee Shop
Owned by Mark and Dan, who split the profits evenly.
Maganed by Ming, MtG, Rah and UR, who all make $10/hr working fulltime (8 hrs a day).
Operated by 30 Apolytoners, each making $5/hr (also working fulltime).

Minimun wage goes up to $7/hr.

Cost to run the Coffee Shop raised $480 a day.

That means that profit is now down $480 a day.

Now for increased spending, lets say that the employees now spend 50% of their increased wages at the coffeshop (I know that they wouldn't, but I put it there to represent the increased spending from those chumps who work for minimum wage over at the Eventis Doughnut House) It now means that Mark and Dan are now making $120 less every day.

This is your redistribution of wealth. However, it doesn't stop there.

Mark: Hey Dan, I'm making less money!
Dan: Me too! This sucks!
Mark: I know what to do! Lets raise prices so we are making the same amount of money as we were!

So now your $7/hr buys you the same as it used to buy at $5/hr, only now your individual dollar is worth less.

Hypothesis

[Kuciwalker]

Yep, and you still have NEVER proven that increasing the wage directly causes inflation.

To which I respond once more:

You're right, I never did prove it, assuming you don't actually read my whole string of posts on the previous page.

[Kuciwalker]

Originally posted by Ted Striker
Hypothesis

So what do you think would happen differently, Ted?

[Ted Striker]

Originally posted by Kuciwalker


So what do you think would happen differently, Ted?

I already SHOWED you what happened.

Go back a few pages and read the graph. Purchasing power deteriorated over the years the wage was frozen.

[Ted Striker]

Originally posted by Kuciwalker

Yep, and you still have NEVER proven that increasing the wage directly causes inflation.

To which I respond once more:

You're right, I never did prove it, assuming you don't actually read my whole string of posts on the previous page.

I did read your posts and all they were were a bunch of hypotheticals.

[Kuciwalker]

Which has nothing to do with his example.

Ted, give it up. This is rapidly becoming more pathetic than the "Is it called Star Wars or Episode IV" debate.

[Ted Striker]

It has nothing to do with his example because it hasn't looked at a real life situation.

[Ted Striker]

Here is historical data: