Seattle billionaire calls for other billionaires to come back down to earth

[Sava]

I always love capcom debates.

"Your unrealistic ideological wet dream that's never existed in reality is wrong!"

"NO YOU!"

[Fake Boris]

Back to the topic.

Our country is rapidly becoming less a capitalist society and more a feudal society. Unless our policies change dramatically, the middle class will disappear, and we will be back to late 18th-century France. Before the revolution.

While this is true, post 1789 France was still mostly feudal. The "Revolution" was a case of the non-aristocrats - bankers and industrials - wanting to get a lick of the profits.

[Sava]

Look how bad Egypt had to get before that whole thing occurred.

I wouldn't bet on la revolucion happening anytime soon.

Well, just as long as nobody tries to bring SOPA back.

[Ben Kenobi]

But that isn't what fits the evidence.

Real incomes for men are flat since 1972. The only reason why people make more today than in 1972 is because more women are working today than in 1972.

Incomes overall are flat since about 1997, and declining in the face of inflation. As public spending and debt burden increases, we would expect to see inflation eat away at worker productivity.

Every man under 60 hasn't see a job market where real incomes have increased.

[Sava]

Real incomes for men are flat since 1972.

Thanks obama.

[Bereta_Eder]

Here's the results of your political project: Haunting pictures show desperate struggle to survive in last days of USSR

In the same spirit, if you search "Colombia" you can see some appaulling results of capitalism as well. (and I'm not saying that because they beat us)

[Ben Kenobi]

Thanks obama.

Minimum wage in '72 was a buck 60. Which would correspond to a rate of 9 bucks an hour today, assuming increases in line with inflation. 15 is well beyond the present inflation rate and will stoke drastic price increases wherever enacted.

[DaShi]

Notice how Ben's arguments aren't supported by any facts.

[Sava]

Notice how Ben's arguments aren't supported by any facts.

Actually, he's surprisingly correct:


However, I don't know how that goes against the "it should be more" argument. Has anyone claimed the 1972 federal minimum wage was the ideal "living wage"?

But whatever.

[Ben Kenobi]

Notice how Ben's arguments aren't supported by any facts.

http://www.dollartimes.com/calculators/inflation.htm

$1.60 in 1972 had the same buying power as $9.07 in 2014.

Annual inflation over this period was 4.22%.

http://go.bloomberg.com/market-now/2013/12/31/for-us-men-40-years-of-falling-income/

In inflation-adjusted dollars, a typical 35-44 year old man earned $54,163 back in 1972. Now a man of that age earns $45,224, or 17 percent less. For the 25-34 age bracket, the loss is even greater. You often hear of income having stayed “flat” for many years. On the household level, that’s true. Women’s incomes have increased (a good thing), and many more women have entered the workforce. That’s made up for the drop in men’s incomes, and the median household income has risen a little since 1972.

Notice how Da****'s critiques have no basis in reality?

[DaShi]

Actually, he's surprisingly correct:


However, I don't know how that goes against the "it should be more" argument. Has anyone claimed the 1972 federal minimum wage was the ideal "living wage"?

But whatever.

But he still hasn't supported his conclusion. In fact, it could be argued that there should be an increase in minimum wage.

[Ben Kenobi]

However, I don't know how that goes against the "it should be more" argument. Has anyone claimed the 1972 federal minimum wage was the ideal "living wage"?

Your own graph shows that it's on the high end of minimum wages over time. Median postwar would be about 6, 6.50.

[Ben Kenobi]

In fact, it could be argued that there should be an increase in minimum wage.

If minimum wage increases lead to an increase in real wages, why haven't we seen an increase in real wages for men since 1972?

[Sava]

Your own graph shows that it's on the high end of minimum wages over time. Median postwar would be about 6, 6.50.

Yes. *AND* it should be higher.

You are very terrible at... anything that involves the use of the brain.

[Fake Boris]

I made the horrendous decision of clicking Ben's post and I chuckled.

Apparently it's bad if min-wage workers augment their wealth faster than inflation. I guess it's perfectly okay though for profits to increase faster than inflation - because billionaires need that money to bribe congressmen into not letting min-wage workers getting increases faster than inflation.