FOLLOW BOREME
TAGS
<< Back to listing
Robert Reich - Raise the minimum wage

Robert Reich - Raise the minimum wage

(2:30) Economist Robert Reich explains why raising the minimum wage to $9 should be a no-brainer. MoveOn.org

Share this post

You can comment as a guest, but registering gives you added benefits

Add your comment
Submit as guest (your name)

Copy code captcha


Submit as member (username / password)

CANCEL
Guest: Casey (1443 days ago)
Being a small business owner in the real world, not academic as this guy obviously is, if I had to raise the hourly rate for my 15 employees I would either have to fire one, which means one more on the bread line, which means higher taxes to support them, or raise prices which would contribute to price inflation so, over all, they are no better off but we'd be paying higher taxes so who really benefits? The guys at the top and in govt. of course,
ReplyVote up (161)down (156)
Original comment
Being a small business owner in the real world, not academic as this guy obviously is, if I had to raise the hourly rate for my 15 employees I would either have to fire one, which means one more on the bread line, which means higher taxes to support them, or raise prices which would contribute to price inflation so, over all, they are no better off but we'd be paying higher taxes so who really benefits? The guys at the top and in govt. of course,
Add your reply
Submit as guest (your name)

Copy code captcha


Submit as member (username / password)

CANCEL
Guest: (1443 days ago)
"not academic as this guy obviously is" BANG. You hit the nail on the head. You're not a very good business man by the sounds of it. That or you're a greedy person skimming most of the businesses profit for yourself and paying your slaves the bare minimum. Great name by the way.
ReplyVote up (146)down (127)
Original comment
"not academic as this guy obviously is" BANG. You hit the nail on the head. You're not a very good business man by the sounds of it. That or you're a greedy person skimming most of the businesses profit for yourself and paying your slaves the bare minimum. Great name by the way.
Add your reply
Submit as guest (your name)

Copy code captcha


Submit as member (username / password)

CANCEL
WalterEgo WalterEgo (1443 days ago)
That video was only 2:30 long and you managed to miss most it. If you're paying minimum wage, then your 15 workers are probably getting benefits of some sort, paid by the taxpayer. If minimum wage is raised to a living wage, then that saves the taxpayer money. You probably can't fire someone without consequences to your business, otherwise you would already have done so. Therefore you raise your prices which contributes to inflation. A small amount of inflation is ideal, otherwise the economy stagnates. Your workers have more money in their pockets and they will spend it thereby boosting the economy. Poor people don't tend to save. Then there's the moral case. You wouldn't expect to pay your employees nothing, so the question is: how much should the minimum be? My rationale is that it would be immoral to offer a full-time job that pays less than someone can live on, otherwise how are they going to live without taxpayers help. Bear in mind that if the living wage was a legal requirement, it would affect your competitors equally. What would your rationale be for a legal minimum that is below a living wage?
ReplyVote up (145)down (140)
Original comment
That video was only 2:30 long and you managed to miss most it. If you're paying minimum wage, then your 15 workers are probably getting benefits of some sort, paid by the taxpayer. If minimum wage is raised to a living wage, then that saves the taxpayer money. You probably can't fire someone without consequences to your business, otherwise you would already have done so. Therefore you raise your prices which contributes to inflation. A small amount of inflation is ideal, otherwise the economy stagnates. Your workers have more money in their pockets and they will spend it thereby boosting the economy. Poor people don't tend to save. Then there's the moral case. You wouldn't expect to pay your employees nothing, so the question is: how much should the minimum be? My rationale is that it would be immoral to offer a full-time job that pays less than someone can live on, otherwise how are they going to live without taxpayers help. Bear in mind that if the living wage was a legal requirement, it would affect your competitors equally. What would your rationale be for a legal minimum that is below a living wage?
Add your reply
Submit as guest (your name)

Copy code captcha


Submit as member (username / password)

CANCEL
cengland0 cengland0 (1443 days ago)
Casey is right on. Robert Reich was talking about increasing the minimum wage to keep up with inflation. What causes inflation in the first place is raising expenses. Many companies do not want to raise prices because of the pressures of their competitors but have to when they are unable to hire workers at lower rates, pay high insurance premiums, pay more for energy, pay more to make the workplace safer, paying more for benefits like paid days off, the list goes on. A rise of demand or shortage of supply can increase prices. So you can have an increase in one area of your expenses and that can have a ripple effect on the prices of goods and services. Increase your employee's pay and you may have to increase your prices. The salary increase becomes a temporary fix because when this price increase ripple goes throughout the economy, the increase in wages cease to benefit the employee because their increased salary no longer buys as much as it used to. He also says that 15 million people would get a pay raise if you increase the minimum wage. That number is low because he forgot the other ripple effect of those people that are currently making 9/hour for a job requiring more skills. They will demand more money too and and they will begin making 11/hour. Then those making 11/hour will want more too. Regarding your comment that we would have already fired people if we could is false. There comes a point where we want specific tasks to be performed and we are willing to pay a particular wage for that task. We will fire people if the costs of those tasks become too great and our ROI doesn't work out. I have hired local people to do temporary jobs around and I pay them $10/hour. I know that's more than the minimum wage but if you told me that I had to pay them more, I might just decide to do it myself or do without the pressure washing. It's not that big of a deal to go without that service if the service gets too expensive.
ReplyVote up (120)down (159)
Original comment
Casey is right on. Robert Reich was talking about increasing the minimum wage to keep up with inflation. What causes inflation in the first place is raising expenses. Many companies do not want to raise prices because of the pressures of their competitors but have to when they are unable to hire workers at lower rates, pay high insurance premiums, pay more for energy, pay more to make the workplace safer, paying more for benefits like paid days off, the list goes on. A rise of demand or shortage of supply can increase prices. So you can have an increase in one area of your expenses and that can have a ripple effect on the prices of goods and services. Increase your employee's pay and you may have to increase your prices. The salary increase becomes a temporary fix because when this price increase ripple goes throughout the economy, the increase in wages cease to benefit the employee because their increased salary no longer buys as much as it used to. He also says that 15 million people would get a pay raise if you increase the minimum wage. That number is low because he forgot the other ripple effect of those people that are currently making 9/hour for a job requiring more skills. They will demand more money too and and they will begin making 11/hour. Then those making 11/hour will want more too. Regarding your comment that we would have already fired people if we could is false. There comes a point where we want specific tasks to be performed and we are willing to pay a particular wage for that task. We will fire people if the costs of those tasks become too great and our ROI doesn't work out. I have hired local people to do temporary jobs around and I pay them $10/hour. I know that's more than the minimum wage but if you told me that I had to pay them more, I might just decide to do it myself or do without the pressure washing. It's not that big of a deal to go without that service if the service gets too expensive.
Add your reply
Submit as guest (your name)

Copy code captcha


Submit as member (username / password)

CANCEL
Guest: derpy (1441 days ago)
what about bigger businesses already running profitable?
ReplyVote up (171)down (150)
Original comment
what about bigger businesses already running profitable?
Add your reply
Submit as guest (your name)

Copy code captcha


Submit as member (username / password)

CANCEL
Guest: kentagon (1440 days ago)
Latest comment: But that must mean... If we will LOWER the minimum wage You could hire More people!! Brilliant! Let's do this! Idiot!
ReplyVote up (154)down (150)
Original comment
Latest comment: But that must mean... If we will LOWER the minimum wage You could hire More people!! Brilliant! Let's do this! Idiot!
Add your reply
Submit as guest (your name)

Copy code captcha


Submit as member (username / password)

CANCEL
Guest: Casper24 (1442 days ago)
One day the world will stop listening to 'economists' because as accurate forecasters of the future you may as well listen to Mystic Meg - hell most of them can't agree on the past
ReplyVote up (147)down (143)
Original comment
One day the world will stop listening to 'economists' because as accurate forecasters of the future you may as well listen to Mystic Meg - hell most of them can't agree on the past
Add your reply
Submit as guest (your name)

Copy code captcha


Submit as member (username / password)

CANCEL
Guest: iknowlessthanyoudo (1441 days ago)
Keep the minimum wage down while cutting food stamps is the missing ingredient to incite needed wealth redistribution. Leave the Tea Party alone. They apparently don't study history.
ReplyVote up (150)down (147)
Original comment
Keep the minimum wage down while cutting food stamps is the missing ingredient to incite needed wealth redistribution. Leave the Tea Party alone. They apparently don't study history.
Add your reply
Submit as guest (your name)

Copy code captcha


Submit as member (username / password)

CANCEL
Guest: SATAN'S RAPE CONTRACTOR (1443 days ago)
raise it to 10
ReplyVote up (164)down (162)
Original comment
raise it to 10
Add your reply
Submit as guest (your name)

Copy code captcha


Submit as member (username / password)

CANCEL
cengland0 cengland0 (1442 days ago)
Why stop there? Raise it to $100/hour. Then all those poor people will become middle class over night. Of course this video says there's absolutely no negative ramifications to raising the minimum wage so why not make all hourly paid employees rich?
ReplyVote up (131)down (133)
Original comment
Why stop there? Raise it to $100/hour. Then all those poor people will become middle class over night. Of course this video says there's absolutely no negative ramifications to raising the minimum wage so why not make all hourly paid employees rich?
Add your reply
Submit as guest (your name)

Copy code captcha


Submit as member (username / password)

CANCEL
Guest: SATAN'S RAPE CONTRACTOR (1442 days ago)
Comment removed
ReplyVote up (132)down (148)
Original comment
Comment removed
Add your reply
Submit as guest (your name)

Copy code captcha


Submit as member (username / password)

CANCEL
cengland0 cengland0 (1442 days ago)
You obviously don't understand the sarcasm in what I was saying. Robert Reich leads us all to believe there are no negative ramifications if we raise the minimum wage. Everyone will keep their jobs, no hours will be cut, all benefits will remain the same, nobody will increase their prices, etc. So that being the case, why would you raise it to $9 when you could raise it to a higher number and not have to raise it again for a century. The reason is clear, there really is a downside to raising the minimum wage but he is trying to get people to sign his petition at signon dot org/minwage without revealing his real agenda.
ReplyVote up (162)down (140)
Original comment
You obviously don't understand the sarcasm in what I was saying. Robert Reich leads us all to believe there are no negative ramifications if we raise the minimum wage. Everyone will keep their jobs, no hours will be cut, all benefits will remain the same, nobody will increase their prices, etc. So that being the case, why would you raise it to $9 when you could raise it to a higher number and not have to raise it again for a century. The reason is clear, there really is a downside to raising the minimum wage but he is trying to get people to sign his petition at signon dot org/minwage without revealing his real agenda.
Add your reply
Submit as guest (your name)

Copy code captcha


Submit as member (username / password)

CANCEL
Guest: SATAN'S RAPE CONTRACTOR (1441 days ago)
Comment removed
ReplyVote up (131)down (132)
Original comment
Comment removed
Add your reply
Submit as guest (your name)

Copy code captcha


Submit as member (username / password)

CANCEL
Guest: (1443 days ago)
he dose not take into account population growth what he is saying makes sense if population stays the same. we just gotta stop breeding less mouths to feed more food to go around simples
ReplyVote up (116)down (163)
Original comment
he dose not take into account population growth what he is saying makes sense if population stays the same. we just gotta stop breeding less mouths to feed more food to go around simples
Add your reply
Submit as guest (your name)

Copy code captcha


Submit as member (username / password)

CANCEL
RELATED POSTS
David Pakman - Trump doesn't understand how money works
David Pakman - Trump doesn't understand how money works
Burger King anti-bullying ad
Burger King anti-bullying ad
Virgin gets involved with Hyperloop
Virgin gets involved with Hyperloop
Questions about SpaceX's BFR concept
Questions about SpaceX's BFR concept
Can Tesla compete in the trucking industry?
Can Tesla compete in the trucking industry?