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originally posted by: solids0be
But honestly I'm against $15 minimum wage, it hurts small businesses and delegitimizes higher skilled jobs that would earn the same wage.
is burger flipping or delivering papers the same as neurosurgery?
JPMorgan Chase Inks $13B Settlement, Admits Misrepresenting MBS
www.foxbusiness.com...
en.wikipedia.org...–Steagall_Legislation
Neither do I, but I trust economists such as Paul Krugman and Robert Reich who point out that it was increased spending that brought us out of the Great Depression and tough rules on the banks such as the Glass-Steagall Act which prevented another collapse from happening up until the time it was repealed in 1999. This is just history. You don’t have to be a genius to just look at the charts and graphs and understand what they mean. And yet Obama surrounded himself right from the start with people like Tim Geithner and Larry Summers, people who are nothing if not creatures of Wall Street, who believe that when all is said and done the system is fine how it is. Sure, there was a bubble and it burst, but that was just a fluke—a once-in-a-lifetime thing. The bankers have learned their lesson and they won’t let another financial collapse happen again. They were telling Obama right from the start that the most important thing was to get Wall Street back in business and the rest would follow. He’d have to pass something called “financial reform” purely for the sake of public perception, but it shouldn’t be tough enough on the banks to fundamentally change the way they operate. Everything just needed to go back to the way it was before the collapse, and the bankers would take care of the rest. It would seem that Obama bought into this bull#. In which case, he is not a sell-out but a fool. The bankers will do whatever is in their best short-term financial interest to do. They do not care about the economic repercussions of their actions.
I refuse to support the lazy. As I said, if you are an adult with that job, then it's the choice you made
Right, it's not a fairy tale. Just give everyone what they need, no matter what it costs. "From each...to each." Sounds good, Mr. Marx.
The LTV seeks to explain the level of this equilibrium. This could be explained by a cost of production argument—pointing out that all costs are ultimately labor costs, but this does not account for profit, and it is vulnerable to the charge of tautology in that it explains prices by prices.[5] Marx later called this "Smith's adding up theory of value". Smith argues that labor values are the natural measure of exchange for direct producers like hunters and fishermen.[6] Marx, on the other hand, uses a measurement analogy, arguing that for commodities to be comparable they must have a common element or substance by which to measure them,[7] and that labor is a common substance of what Marx eventually calls commodity-values.[8]
Scholars have also pointed to Sir William Petty's Treatise of Taxes of 1662[14] and to John Locke's labor theory of property, set out in the Second Treatise on Government (1689), which sees labor as the ultimate source of economic value. Karl Marx himself credited Benjamin Franklin in his 1729 essay entitled "A Modest Enquiry into the Nature and Necessity of a Paper Currency" as being "one of the first" to advance the theory.[15]
And it's still not worth a living wage
In public policy, a living wage is the minimum income necessary for a worker to meet their basic needs. This is not necessarily the same as subsistence, which refers to a biological minimum, though the two terms are commonly confused.
originally posted by: DBCowboy
a reply to: jacobe001
This incessant desire to control what other people make is what disgusts me about socialism.
If you want more money, earn it.
But don't try justifying theft by bleating socialist/class division idiocy.
originally posted by: Bedlam
a reply to: Sargeras
I was making better than $10 in the 80s.
Then again, I wasn't going for entry level jobs and had my union card.
The people that make burgers are not producing a high value product.
originally posted by: Subaeruginosa
Maybe, but the reality is it's big business that maintains a stable & reliable middle class population.
Most small businesses only pay minimum wage, offer few or no benefits, cut corners and usually have low quality working conditions, as well as unstable employment.
originally posted by: James1982
originally posted by: Bedlam
a reply to: Sargeras
I was making better than $10 in the 80s.
Then again, I wasn't going for entry level jobs and had my union card.
You seem to be proving our point but still missing it entirely.
The union jobs are gone for the most part.
The rancher is doing ok, or he's making mistakes.
They're meant to be done by kids learning about responsibilities and work ethics.
ethics ˈnoun 1. moral principles that govern a person's behaviour or the conducting of an activity.
But then where will you get your McNuggets? But you're right. When a business becomes unprofitable because of the market (us) it goes away.