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The concentration of wealth and inequality of pay growth over the last 50 years is approaching the levels leading up to the Great Depression. Your company is either an anomaly - demand you can't satisfy because you can't afford more workers sounds like an excuse for a lack of innovative thinking - or a symptom of the coming crash.

The money for whatever we need is available. We need to understand it is the work of the average American that creates the wealth. The present tax system, and the MBA's successful translation of our culture to the sole worship of the dollar of, has allowed the wealthy to become disgustingly rich and believe they are immune from the law. Americans will continue to work, earn money and buy things even if their bosses are significantly less wealthy. We just have to agree to disregard their bullshit about moving out of the country.

Jim

The reality is America and Europe used to have a monopoly on manufacturing for most of the 20th Century, but we now have more than 1.5 billion new laborers in Asia who are educated, skilled, and willing and able to work for a fraction of the wages that we demand. Western companies can set up a factory in China or elsewhere in Asia and manufacture products so cheaply, due to low labor and other costs that they can still earn higher profits shipping their products across the ocean instead of making them here.

That fact alone explains exactly why America has lost so many millions of manufacturing jobs in the past 30 years.

While American workers do lose opportunities, I choose to look on the bright side. Billions of people in Asia are now enjoying a much higher standard of living than their parents and grandparents. China and India were 3rd world mudholes until relatively recently and their citizens were typically impoverished and often starving. They're immensely better off, today and our loss is their gain.
 

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2014 E250 Bluetec 4-Matic, 1983 240D 4-Speed
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You have the MBAs and their theory that money defines the value of everything in life, including life, to thank for the idea that there is a benefit in stripping the American economy of it substance, jobs, if someone can make more money by exporting them. Like any practice that is overdone, from making plastic bags to exporting jobs, the problems soon overwhelm the benefits.

The MBAs mission is to make money quickly by doing little or not work. The field has studied and then drained the strength and depth of the US economy for a quick buck. And how you make the money is no longer a concern. Murder with drugs, sell kids for perverts, etc. It is time to turn this ship around.

Jim
 

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94 E500, 97 500SL
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Meh,
Robots will be making everything in another decade or two, so even those countries with cheap labor won't be working. Only those making and tending to the robots will have jobs.
No, really.
 

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2014 E250 Bluetec 4-Matic, 1983 240D 4-Speed
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Meh,
Robots will be making everything in another decade or two, so even those countries with cheap labor won't be working. Only those making and tending to the robots will have jobs.
No, really.
Not sure who will be teaching the robots highly skilled, manual labor tasks. Or how to provide distinguishing value. Competition in the market is a driver for creating value. Without people who know what the hell is going on it is highly unlikely robots will arrive knowing that on their own.

Jim
 

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I somewhat agree Jum,..but many robots are now "self learning"....as demonstrated by some visual light drone displays in Japan..

You can let your imagination run wild about robots in the future....hard to visualize right now, but we will be amazed soon enough..
 

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Moderately subtle
94 E500, 97 500SL
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12,080 Posts
Not sure who will be teaching the robots highly skilled, manual labor tasks. Or how to provide distinguishing value. Competition in the market is a driver for creating value. Without people who know what the hell is going on it is highly unlikely robots will arrive knowing that on their own.

Jim
I understand, but I did mention that the people who build and tend to the robots will have jobs. The net will be even fewer people required to make the same stuff than today, and there's a lot of robots already doing the repetitive manufacturing jobs.
Just a reality check. Can't make it against the law, of course, but eventually companies will figure out their market is people with income, robots don't buy anything.
 

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"If you can't pay your employees a living wage, then buy fewer yachts."


It's assholes like this who stifle honest discussion with provovotive rhetoric and ensure that the country remains politically and ideologically polarized.

The majority of hourly wage employees in America work for smaller businesses, not big corporations where the CEO's own yachts.

Living wage activists are telling me that the $10/hr employees at the small business that I work for should be getting paid $15/hr, and that the owner can just open up his money vault and take the extra out of his profits. As if he's got a yacht and lives in a big mansion and drives a Rolls Royce.
 

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TIL legislatures are activist...


2019 Highlights
  • Eighteen states began the new year with higher minimum wages. Eight states (Alaska, Florida, Minnesota, Montana, New Jersey, Ohio, South Dakota and Vermont) automatically increased their rates based on the cost of living, while 10 states (Arizona, Arkansas, California, Colorado, Maine, Massacusetts, Missouri, New York, Rhode Island and Washington) increased their rates due to previously approved legislation or ballot initiatives. Other states that will see rate increases during the 2019 calendar year include D.C., Delaware, Michigan and Oregon.
  • New Jersey enacted AB 15 in February, which will gradually increase the minimum wage rate to $15 by 2024. (The minimum wage for tipped employees will increase to $9.87 over the same period.) The schedule of annual increases was delayed for certain seasonal workers and employees of small employers, and a training wage of 90 percent of the minimum wage was created for certain employees for their first 120 hours of work.
  • Illinois enacted SB 1 in February, which will phase in a minimum wage increase to $15 by 2025. The measure also adjusted the youth wage for workers under age 18 (it will gradually increase to $13 by 2025) and created a tax credit program to offset labor cost increases for smaller employers.
  • Maryland's legislature overrode a gubernatorial veto to enact a measure (SB 280) that phased-in a minimum wage increase to $15 by 2024 (with a delayed schedule of rate increases for smaller employers) and eliminated and the state subminimum wage for employees younger than age 20.
  • New Mexico enacted SB 437 in April, which will raise the state minimum wage to $12 by 2023. The measure also established a training wage for high school students and slightly increased the tipped minimum wage.

 

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'74 & '78 450 SEL
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TIL legislatures are activist...


2019 Highlights
  • Eighteen states began the new year with higher minimum wages. Eight states (Alaska, Florida, Minnesota, Montana, New Jersey, Ohio, South Dakota and Vermont) automatically increased their rates based on the cost of living, while 10 states (Arizona, Arkansas, California, Colorado, Maine, Massacusetts, Missouri, New York, Rhode Island and Washington) increased their rates due to previously approved legislation or ballot initiatives. Other states that will see rate increases during the 2019 calendar year include D.C., Delaware, Michigan and Oregon.
  • New Jersey enacted AB 15 in February, which will gradually increase the minimum wage rate to $15 by 2024. (The minimum wage for tipped employees will increase to $9.87 over the same period.) The schedule of annual increases was delayed for certain seasonal workers and employees of small employers, and a training wage of 90 percent of the minimum wage was created for certain employees for their first 120 hours of work.
  • Illinois enacted SB 1 in February, which will phase in a minimum wage increase to $15 by 2025. The measure also adjusted the youth wage for workers under age 18 (it will gradually increase to $13 by 2025) and created a tax credit program to offset labor cost increases for smaller employers.
  • Maryland's legislature overrode a gubernatorial veto to enact a measure (SB 280) that phased-in a minimum wage increase to $15 by 2024 (with a delayed schedule of rate increases for smaller employers) and eliminated and the state subminimum wage for employees younger than age 20.
  • New Mexico enacted SB 437 in April, which will raise the state minimum wage to $12 by 2023. The measure also established a training wage for high school students and slightly increased the tipped minimum wage.

Why are these states phasing in the increases over the next 5 years? If it's such a benefit to everyone and it doesn't increase inflation and unemployment or negatively affect the economy, why not make the $15/hr minimum wage take effect January 1st, 2020?
 

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I'm told a major exodus is taking place in Seattle...


Minimum wage in Seattle is soaring to $16 per hour in 2019 for the city's largest employers. The wage increase affects companies with more than 500 workers worldwide.

Companies with less than 500 employees will pay at least $15 per hour as of January 1, 2018. According to Seattle's Office of Labor Standards, "Small employers can meet this requirement by paying no less than $12.00 per hour in wages and contributing at least $3.00 per hour toward an employee's medical benefits and/or reported tips."

Statewide, Washington's minimum wage increases to $12 per hour in 2019, up from $11.50 in 2018. The state minimum wage will rise again to $13.50 per hour in 2020, as part of Initiative 1433.

Seattle's new minimum wage is more than double the federal minimum of $7.25 per hour, a rate that went into effect in 2009.

Seattle, the fastest-growing large city in the U.S., has been at the forefront of the movement for higher minimum wages. A local ordinance raised the minimum wage to as much as $11 an hour in 2015, then as much as $13 in 2016, depending on the size of the employer and whether it provided health insurance.
 

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I'm told a major exodus is taking place in Seattle...


Minimum wage in Seattle is soaring to $16 per hour in 2019 for the city's largest employers. The wage increase affects companies with more than 500 workers worldwide.

Companies with less than 500 employees will pay at least $15 per hour as of January 1, 2018. According to Seattle's Office of Labor Standards, "Small employers can meet this requirement by paying no less than $12.00 per hour in wages and contributing at least $3.00 per hour toward an employee's medical benefits and/or reported tips."

Statewide, Washington's minimum wage increases to $12 per hour in 2019, up from $11.50 in 2018. The state minimum wage will rise again to $13.50 per hour in 2020, as part of Initiative 1433.

Seattle's new minimum wage is more than double the federal minimum of $7.25 per hour, a rate that went into effect in 2009.

Seattle, the fastest-growing large city in the U.S., has been at the forefront of the movement for higher minimum wages. A local ordinance raised the minimum wage to as much as $11 an hour in 2015, then as much as $13 in 2016, depending on the size of the employer and whether it provided health insurance.
Holy shit that's amazing! Seattle businesses can afford to pay their employees $15hr!

It's probably just a coincidence that Seattle is "the fastest growing large city in the U S.. It's also probably irrelevant that the new minimum wage only applies to companies with more than 500 employees.

Wonder what would happen if the new minimum wage went into effect right now in Rockford, Illinois, a city of 300,000 close to where I live.

Hey professor T, tell us what would happen.
 

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Absolutely nothing...


Companies with less than 500 employees will pay at least $15 per hour as of January 1, 2018. According to Seattle's Office of Labor Standards, "Small employers can meet this requirement by paying no less than $12.00 per hour in wages and contributing at least $3.00 per hour toward an employee's medical benefits and/or reported tips."
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