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Thread: A $10.10 minimum wage would force Walmart to raise prices by exactly one penny

  1. #31
    And here's some math:

    Car production in the year before the pay rise was 170,000, in the year of it 202,000. As we can see above the total labour establishment was only 14,000 anyway. Even if all of his workers bought a car every year it wasn’t going to make any but a marginal difference to the sales of the firm.


    We can go further too. As we’ve seen the rise in the daily wage was from $2.25 to $5 (including the bonuses etc). Say 240 working days in the year and 14,000 workers and we get a rise in the pay bill of $9 1/4 million over the year. A Model T cost between $550 and $450 (depends on which year we’re talking about). 14,000 cars sold at that price gives us $7 3/4 million to $6 1/4 million in income to the company.


    It should be obvious that paying the workforce an extra $9 million so that they can then buy $7 million’s worth of company production just isn’t a way to increase your profits. It’s a great way to increase your losses though.



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  3. #32
    The fact of that matter is that a MW wage increase, at the expense of a penny increase in price, would get people off of welfare.



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  5. #33
    Quote Originally Posted by Boshembechle View Post
    The fact of that matter is that a MW wage increase, at the expense of a penny increase in price, would get people off of welfare.
    No, it isn't.

  6. #34
    Quote Originally Posted by Boshembechle View Post
    The fact of that matter is that a MW wage increase, at the expense of a penny increase in price, would get people off of welfare.
    and then onto unemployment for 30 weeks until their unemployment ran out, and then back on welfare -- more than when the goat-rope started. You are pushing a policy that will see fewer people employed, more people on welfare, and more people than ever in poverty. Is that what you are after, making poor people poorer. making middle class people poor, and making rich people richer? Because that's exactly what you are asking America to do.

  7. #35
    Quote Originally Posted by Boshembechle View Post
    The fact of that matter is that a MW wage increase, at the expense of a penny increase in price, would get people off of welfare.
    No it wouldn't. When you make it illegal to work for less than $10 per hour, then when all these people who would otherwise be working for less than $10 per hour are unemployed, their jobs having just been made illegal by you, then many of them will be on welfare.

  8. #36
    Quote Originally Posted by Boshembechle View Post
    The fact of that matter is that a MW wage increase, at the expense of a penny increase in price, would get people off of welfare.
    Non sequitur
    Radical in the sense of being in total, root-and-branch opposition to the existing political system and to the State itself. Radical in the sense of having integrated intellectual opposition to the State with a gut hatred of its pervasive and organized system of crime and injustice. Radical in the sense of a deep commitment to the spirit of liberty and anti-statism that integrates reason and emotion, heart and soul. - M. Rothbard

  9. #37
    Quote Originally Posted by Boshembechle View Post
    The fact of that matter is that a MW wage increase, at the expense of a penny increase in price, would get people off of welfare.
    That persuades me! If you use the phrase "the fact of that matter" it certainly must be true! I'm very much convinced. Screw basic economics, that stuff is wrong because you know, it's "the fact of that matter."

  10. #38
    How many liberal blogs were advocating a $10 minimum wage before Obama started talking about it?

    It seems like "grassroots" Democrats support whatever issues are first deemed appropriate in high-level DNC strategy meetings.

    The status quo has nothing to fear from this top-down advocacy.

  11. #39
    Quote Originally Posted by Boshembechle View Post
    About 15% of Walmart slaves are on the dole.
    I wonder how many would quit or go part-time just to stay on the dole. Must be a pretty sweet deal to get free healthcare and food while you're working. I'm sure they can figure out the basic math of it and realize that they're better off with slightly lower wages in order to keep their "benefits."

  12. #40
    Quote Originally Posted by Boshembechle View Post
    The fact of that matter is that a MW wage increase, at the expense of a penny increase in price, would get people off of welfare.
    NO it is not a fact.

    The fact is,,as MW increases, companies close their door and fire people.

    Walmart already did that when one area raised the MW.. They closed the doors..

    It has happened all over this country,, between Union wages and MW companies have moved their production elsewhere.
    Liberty is lost through complacency and a subservient mindset. When we accept or even welcome automobile checkpoints, random searches, mandatory identification cards, and paramilitary police in our streets, we have lost a vital part of our American heritage. America was born of protest, revolution, and mistrust of government. Subservient societies neither maintain nor deserve freedom for long.
    Ron Paul 2004

    Registered Ron Paul supporter # 2202
    It's all about Freedom



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  14. #41
    Quote Originally Posted by Boshembechle View Post
    The fact of that matter is that a MW wage increase, at the expense of a penny increase in price, would get people off of welfare.
    It has never worked that way in the past. Why would it be different this time?

  15. #42
    Why in the hell is everything about Wal Mart with you people? You do realize that there are hundreds of box stores and fast food restaurants out there and thousands and thousands of mom and pa restaurants and general stores that would be affected by this minimum wage increase as well?

    I'm not a "Social Darwinist" and I'm try and avoid wasting too much time blaming the victim. But seriously $#@! you

    Let me get on my soap box and tell you a story.

    In 2009 I was about ready to finish my degree in Social Studies Education. However, I failed student teaching, I wasn't ready for it, It was the greatest humiliation and greatest failure of my life. In my humiliation and youthful ignorance, I left college with only a degree in History. I graduated in May of 2009. I spent most of the next two years landscaping for a local amusement park. then I get job working for a ma and pa take out place. It is a beautiful well maintained location in one of the rougher parts of Buffalo. A month later, one of my lines came back, I got a job offer working for a major manufacturing, third shift industrial cleaner making 10.23 an hour, almost full time. While living with my girlfriend I took night classes and now I have entry level job at a law firm, making 10.85 an hour with virtually unlimited overtime.

    Yes, I benefited tremendously from support from my parents and my girlfriend (now ex). But I never took food stamps, never took subsides housing, and never took welfare. The only government benefits I ever got was unemployment for the first winter as a landscaper and from late October to January (when I got my delivery boy job)

    I could not be less sympathetic to the sob stories from people working at some minimum wage job for five, six, seven years. Or the sob stories about someone who has been unemployed for six plus months. Especially someone in their 30s, 40s or 50s If it is that important that you make more money. Get off your ass and make something of yourself!
    Last edited by thequietkid10; 04-19-2014 at 05:59 PM.

  16. #43
    Quote Originally Posted by Boshembechle View Post
    Let me preface this by saying that Henry Ford once doubled the wages of his employees so that they could buy his products. It worked out extremely well.

    http://thinkprogress.org/economy/201...m-wage-prices/
    I could give a crap about Walmart. What it will do is eliminate another job for a 15 to 17 yr old kid who needs it at a small business.Anyone who supports it is a $#@!stick.

  17. #44
    Quote Originally Posted by angelatc View Post
    Why are you here trying to use the government as a tool for corporations to use to cripple their smaller competitors?
    You baffle the heck out me sometimes, woman.

  18. #45
    Quote Originally Posted by thequietkid10 View Post
    Why in the hell is everything about Wal Mart with you people?
    Because the Unions are pushing to get their hooks in the largest retailer.

    WalMart has the highest visibility,, so they are the target.
    Liberty is lost through complacency and a subservient mindset. When we accept or even welcome automobile checkpoints, random searches, mandatory identification cards, and paramilitary police in our streets, we have lost a vital part of our American heritage. America was born of protest, revolution, and mistrust of government. Subservient societies neither maintain nor deserve freedom for long.
    Ron Paul 2004

    Registered Ron Paul supporter # 2202
    It's all about Freedom

  19. #46
    Quote Originally Posted by Boshembechle View Post
    Let me also say that I posted this not as an indictment of walmart, but as a scientific and arithmetic refutation of the absurd lie that MW increases will cause price increases.
    You are missing the central point, which as Cabal mentioned is "force". Walmart is a private entity. Who holds the authority to force them to pay a minimum wage? Nobody. If you do not like the offered wage, look elsewhere for work. Nobody is entitled to a position at Walmart or any other place of employment. A minimum wage is an entitlement enforced by so-called "government" upon the parties to private contracts (employers and employees). "Government" has no rightful authority to put its nose in such business.

    It is irrelevant whether increases in minimum wave increases prices. What is relevant is the fact that neither you nor anyone else holds the least moral authority to force a private business entity to pay a minimum hourly wage. If you think otherwise, you will have an impossibly tall order presenting a valid and true proof of the claim. But if you think you have the chops, please enlighten us. But beware that several of the people here are crackerjack analysts and will slice and dice your argument until it is naught but a burning wreck on its way to brunch with Davey Jones. You will be needing your AAA-game.
    freedomisobvious.blogspot.com

    There is only one correct way: freedom. All other solutions are non-solutions.

    It appears that artificial intelligence is at least slightly superior to natural stupidity.

    Our words make us the ghosts that we are.

    Convincing the world he didn't exist was the Devil's second greatest trick; the first was convincing us that God didn't exist.

  20. #47
    I am sure Walmart is already squeezing that 1 penny. What makes you think they are leaving anything on the table as far as their prices in the first place?

    Basic economics. Price fixing has all sorts of unintended consequences. Price discovery is a market function. Not something that people who feel sorry for other people mandate their government to do.

    The last thing that any one working at walmart needs is to have the government force their employer to pay a welfare tax directly to the employees.

  21. #48
    You're right, lets pay workers 1 cent per month, that way unemployment can drop to 0%.



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