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Old June 14th, 2011, 06:40 PM   #1
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Excerpted from NY Times, “How to Cut Child Poverty in Half”, by Nancy Folbre, June 13, 2011.

http://economix.blogs.nytimes.com/2011/06/13/how-to-cut-child-poverty-in-half .



“child poverty rate has trended upward in the United States since 2000, and children have proved economically vulnerable to increased unemployment. ………………………….. Most other rich countries rate higher on indicators of child well-being than either Britain or the United States. But we have more in common with Britain than most other countries, and rightfully pay closer attention to it. ………………………



……...………….. The ordinary policies in Britain that led to what many Americans would consider extraordinary results were these: an increase in the national minimum wage (currently about $9.70 an hour, compared with our $7.25), tax incentives to encourage single parents to move into paid employment, increased public benefits for parents, provision of universal preschool and regulations making it easier for parents of young children to request flexible work schedules”.



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Old June 14th, 2011, 11:40 PM   #2
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The biggest contributor in the U.S. to child poverty is single parent households. Not certain if that is similar in Britain. But I doubt many of those proposals would fly here. For example we already see the fight against a higher minimum wage. Which is understandable since higher wages would eventually equate to higher overall prices for goods and services. We already have tax benefits such as EIC and child care exemptions. And regulating how a company can schedule a worker would face a tough road in our society.
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Old June 14th, 2011, 11:52 PM   #3
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So what will happen fxashun if we dropped the minimum wage down to $1 dollar? Will everything get cheaper?
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Old June 15th, 2011, 09:12 AM   #4
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Perhaps we should stop allowing poor people to breed for awhile.
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Old June 15th, 2011, 09:14 AM   #5
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So what will happen fxashun if we dropped the minimum wage down to $1 dollar? Will everything get cheaper?




I'm getting old. I actually remember when it was $1.00 an hour.
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Old June 15th, 2011, 10:24 AM   #6
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Pensacola Nice wrote "I'm getting old. I actually remember when it, (the minimum wage) was $1.00 an hour".



He's a child.







I received 75 cent/Hr. federal minimum wage when I was in high school. I remember three cent first class postage, penny post cards, nickels bought local payphone calls, NY City rides on buses (with bus transfers), subways, the Staten Island ferry, candy bars, and Cokes required an additional 2 cents for the bottle deposits. Kosher Deli. meat was 75 cents a pound.







There was free admission to the NY museums and if my packages were heavy or I wanted to stash my rain coat because the sun came out, I knew where there were public lockers all over Manhattan. I think I remember when they only cost a dime. Public locker prices rose to a quarter and then I believe they went to a two quarters in some very expensive locations such as NY airports. After the world trade center attack there are no longer public lockers in NY City.







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Old June 15th, 2011, 11:22 AM   #7
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Pensacola Nice wrote "I'm getting old. I actually remember when it, (the minimum wage) was $1.00 an hour".



He's a child.







I received 75 cent/Hr. federal minimum wage when I was in high school. I remember three cent first class postage, penny post cards, nickels bought local payphone calls, NY City rides on buses (with bus transfers), subways, the Staten Island ferry, candy bars, and Cokes required an additional 2 cents for the bottle deposits. Kosher Deli. meat was 75 cents a pound.







There was free admission to the NY museums and if my packages were heavy or I wanted to stash my rain coat because the sun came out, I knew where there were public lockers all over Manhattan. I think I remember when they only cost a dime. Public locker prices rose to a quarter and then I believe they went to a two quarters in some very expensive locations such as NY airports. After the world trade center attack there are no longer public lockers in NY City.







Respectfully, Supposn


In San Diego, my first job was at $1.50 per hour in a college cafeteria, Stamps were like a dime. Bus fare was was a quarter. It cost $16.00 to visit Disneyland. Back then only tickets were sold for certain rides. A to E.
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Old July 12th, 2011, 09:32 AM   #8
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My first job was at McDonalds (age 14) earning $4.75/hr - minimum wage.
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Old July 12th, 2011, 12:20 PM   #9
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Quote:
Originally Posted by Fayt' timestamp='1308124365' post='338348

So what will happen fxashun if we dropped the minimum wage down to $1 dollar? Will everything get cheaper?




I'm getting old. I actually remember when it was $1.00 an hour.


Back in those days you could take your girlfriend out to the cinema, buy her fish & chips, fill the car with petrol, buy a box of fags and still have change from fifty cents
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Old July 12th, 2011, 12:47 PM   #10
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So what will happen fxashun if we dropped the minimum wage down to $1 dollar? Will everything get cheaper?


Washed Up Economists, prices and wages will decrease.



Purchasing power of both the minimum and median wages will decline but the minimum will proportionally decline further. D
ue to minimum rates’ proportional effects upon wages inverse relationship to wages’ amounts, the working poor will suffer the greatest financial detriments.



There will be many more jobs with wages’ purchasing power less than that of our current minimum wages. There will also be increased need for public assistance and greater detriment of both federal and state budgets.








Respectfully, Supposn
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Old July 12th, 2011, 02:07 PM   #11
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Quote:
Originally Posted by Fayt' timestamp='1308124365' post='338348

So what will happen fxashun if we dropped the minimum wage down to $1 dollar? Will everything get cheaper?


Washed Up Economists, prices and wages will decrease.



Purchasing power of both the minimum and median wages will decline but the minimum will proportionally decline further. D
ue to minimum rates’ proportional effects upon wages inverse relationship to wages’ amounts, the working poor will suffer the greatest financial detriments.



There will be many more jobs with wages’ purchasing power less than that of our current minimum wages. There will also be increased need for public assistance and greater detriment of both federal and state budgets.








Respectfully, Supposn


I agree but how would there be many more jobs with purchasing power less?
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Old July 12th, 2011, 03:28 PM   #12
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Quote:
Originally Posted by Supposn' timestamp='1310503623' post='341749

[quote name='Fayt' timestamp='1308124365' post='338348']

So what will happen fxashun if we dropped the minimum wage down to $1 dollar? Will everything get cheaper?


Washed Up Economists, prices and wages will decrease.



Purchasing power of both the minimum and median wages will decline but the minimum will proportionally decline further. D
ue to minimum rates’ proportional effects upon wages inverse relationship to wages’ amounts, the working poor will suffer the greatest financial detriments.



There will be many more jobs with wages’ purchasing power less than that of our current minimum wages. There will also be increased need for public assistance and greater detriment of both federal and state budgets.








Respectfully, Supposn


I agree but how would there be many more jobs with purchasing power less?

[/quote]



Washed Up Economist, there are many tasks that do not justify the current minimum rate. The majority of those tasks are simply not performed because the job doesn’t exist. Some tasks that do not justify the minimum rate are performed because the tasks are believed to be necessary.







If the minimum wage is decreased ALL labor compensation is to some extent decreased. There have always been more people willing to work for lesser wages, but they are not qualified to earn the minimum wage.







Reducing the minimum increases jobs justifying the lower wages and increases the numbers of people qualified to justify the lesser minimum. Decreasing the minimum wage, despite more people working at lower wage jobs would induce a net increased need for public assistance. Decreasing the minimum wage would be detrimental to our federal and state economies.







Respectfully, Supposn
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Old July 12th, 2011, 03:57 PM   #13
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Quote:
Originally Posted by Supposn View Post
Quote:
Originally Posted by Fayt' timestamp='1310508434' post='341755

[quote name='Supposn' timestamp='1310503623' post='341749']

[quote name='Fayt' timestamp='1308124365' post='338348']

So what will happen fxashun if we dropped the minimum wage down to $1 dollar? Will everything get cheaper?


Washed Up Economists, prices and wages will decrease.



Purchasing power of both the minimum and median wages will decline but the minimum will proportionally decline further. D
ue to minimum rates’ proportional effects upon wages inverse relationship to wages’ amounts, the working poor will suffer the greatest financial detriments.



There will be many more jobs with wages’ purchasing power less than that of our current minimum wages. There will also be increased need for public assistance and greater detriment of both federal and state budgets.








Respectfully, Supposn


I agree but how would there be many more jobs with purchasing power less?

[/quote]



Washed Up Economist, there are many tasks that do not justify the current minimum rate. The majority of those tasks are simply not performed because the job doesn’t exist. Some tasks that do not justify the minimum rate are performed because the tasks are believed to be necessary.







If the minimum wage is decreased ALL labor compensation is to some extent decreased. There have always been more people willing to work for lesser wages, but they are not qualified to earn the minimum wage.







Reducing the minimum increases jobs justifying the lower wages and increases the numbers of people qualified to justify the lesser minimum. Decreasing the minimum wage, despite more people working at lower wage jobs would induce a net increased need for public assistance. Decreasing the minimum wage would be detrimental to our federal and state economies.







Respectfully, Supposn

[/quote]



Your rhetoric is complex but I think I understand what you're saying. My understand of how an economy works is that decreasing the minimum wage will cost less money to flow through the economy aka decreasing demand. Doing this will will cause unemployment to rise because due to the fall of purchasing power.
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Old July 24th, 2011, 10:38 AM   #14
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Quote:
Originally Posted by Fayt View Post
Quote:
Originally Posted by Supposn' timestamp='1310513293' post='341757

[quote name='Fayt' timestamp='1310508434' post='341755']

[quote name='Supposn' timestamp='1310503623' post='341749']

[quote name='Fayt' timestamp='1308124365' post='338348']

So what will happen fxashun if we dropped the minimum wage down to $1 dollar? Will everything get cheaper?


Washed Up Economists, prices and wages will decrease.



Purchasing power of both the minimum and median wages will decline but the minimum will proportionally decline further. D
ue to minimum rates’ proportional effects upon wages inverse relationship to wages’ amounts, the working poor will suffer the greatest financial detriments.



There will be many more jobs with wages’ purchasing power less than that of our current minimum wages. There will also be increased need for public assistance and greater detriment of both federal and state budgets.








Respectfully, Supposn


I agree but how would there be many more jobs with purchasing power less?

[/quote]



Washed Up Economist, there are many tasks that do not justify the current minimum rate. The majority of those tasks are simply not performed because the job doesn’t exist. Some tasks that do not justify the minimum rate are performed because the tasks are believed to be necessary.







If the minimum wage is decreased ALL labor compensation is to some extent decreased. There have always been more people willing to work for lesser wages, but they are not qualified to earn the minimum wage.







Reducing the minimum increases jobs justifying the lower wages and increases the numbers of people qualified to justify the lesser minimum. Decreasing the minimum wage, despite more people working at lower wage jobs would induce a net increased need for public assistance. Decreasing the minimum wage would be detrimental to our federal and state economies.







Respectfully, Supposn

[/quote]



Your rhetoric is complex but I think I understand what you're saying. My understand of how an economy works is that decreasing the minimum wage will cost less money to flow through the economy aka decreasing demand. Doing this will will cause unemployment to rise because due to the fall of purchasing power.

[/quote]



Well then, why not raise the minimum wage to $50/hr? Wouldn't that simply create an economic Utopia? Think of all the dollars that would flow through the economy to both sellers and to government in taxes.
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Old July 24th, 2011, 11:30 AM   #15
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Well then, why not raise the minimum wage to $50/hr? Wouldn't that simply create an economic Utopia? Think of all the dollars that would flow through the economy to both sellers and to government in taxes.


lol sounds nice scrjnki, I'm all for it. Seriously $12 to $13 dollars is what it should be and a course the cost of living is different in different states.
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Old July 24th, 2011, 04:41 PM   #16
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Well then, why not raise the minimum wage to $50/hr? Wouldn't that simply create an economic Utopia? Think of all the dollars that would flow through the economy to both sellers and to government in taxes.


Scrjnki, I suppose it’s feasible an excessive minimum wage rate would be detrimental to a nation’s economy.

I’m unaware of that ever occurring in any nation at any time; but I certainly don’t desire that such a historic precedent be set.








Similar to the enactment of many government regulations the federal minimum wage is ALWAYS gradually rather than radically modified and it’s never modified suddenly. All enterprises, (but particularly enterprises with a high proportion of lower wage earning employees), need time to adjust. Many enterprises have contracts with their clients for durations of 1 or 2 years. Those contracts were based upon expectations that enterprises’ expenses would not suddenly and radically be increased.







Many expect in the future more contracts of all kinds will be pegged to the dollars’ purchasing power.



Respectfully, Supposn
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Old July 26th, 2011, 08:56 PM   #17
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Quote:
Originally Posted by Fayt' timestamp='1308124365' post='338348

So what will happen fxashun if we dropped the minimum wage down to $1 dollar? Will everything get cheaper?


Washed Up Economists, prices and wages will decrease.



Purchasing power of both the minimum and median wages will decline but the minimum will proportionally decline further. D
ue to minimum rates’ proportional effects upon wages inverse relationship to wages’ amounts, the working poor will suffer the greatest financial detriments.



There will be many more jobs with wages’ purchasing power less than that of our current minimum wages. There will also be increased need for public assistance and greater detriment of both federal and state budgets.








Respectfully, Supposn
Well, there ya go.
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Old July 28th, 2011, 03:38 AM   #18
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I bet you don't even know what he said.
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Old July 28th, 2011, 07:31 AM   #19
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I bet you don't even know what he said.
I bet you'll lose that bet.
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