Donald Trump says he'd support $10 minimum wage

[CPUd]

Donald Trump says he'd support $10 minimum wage

(CNN)Donald Trump said Tuesday he would support raising the federal minimum wage to $10 an hour, a departure from his previous assertion that wages are "too high."

The Republican presidential nominee was pressed to provide a specific number by Fox News anchor Bill O'Reilly, who said, "there has to be a federal minimum wage."

Trump initially dismissed that suggestion.

"There doesn't have to be," Trump said. "I would leave it and raise it somewhat. You need to help people. I know it's not very Republican to say."

"Ten bucks?" O'Reilly asked.

"I would say 10. I would say 10," Trump agreed. "But with the understanding that somebody like me is going to bring back jobs. I don't want people to be in that $10 category for very long. But the thing is, Bill, let the states make the deal."

Asked to clarify his position at a press conference on Wednesday morning in Doral, Florida, Trump said once again that the federal minimum wage should be raised to "at least $10" but that "states should really call the shots."

"As an example, I live in New York. It's very expensive in New York. You can't buy a hot dog for the money you're talking about," Trump said. "You go to other states and it's not expensive at all. Now what it does is it puts New York at a disadvantage if the minimum wage is, companies move out and things -- you know, bad things happen. At the same time, people have to be taken care of. But what I'm really going to do with minimum wage, it has to go up."

Bernie Sanders assailed Trump on Monday night at the Democratic National Convention, telling delegates that the GOP nominee "believes that states should actually have the right to lower the minimum wage below $7.25," which is the current federal minimum wage.

At the press conference on Wednesday, Trump said Sanders "lied."

"Bernie Sanders said in his speech the other day that Donald Trump wants the minimum wage to go below $7," Trump said. "I said, 'Where did he come up with that one?'"

Trump has said in the past that he believes the minimum wage should be decided by the states, but his position on the issue has changed over time.

At a Republican presidential debate last November, Trump said he couldn't support protesters demanding a $15-an-hour minimum wage.

"Taxes too high, wages too high," he said. "We're not going to be able to compete against the world. I hate to say it, but we have to leave it the way it is. People have to go out, they have to work really hard and they have to get into that upper stratum. But we cannot do this if we are going to compete with the rest of the world. We just can't do it."

But in May, Trump signaled in an interview with CNN that he would be in favor of raising the federal minimum wage from $7.25 an hour, saying "people have to get more."

http://www.cnn.com/2016/07/27/politi...-minimum-wage/

[enhanced_deficit]

Wonder if Putin provided him the $10 magic number.

[Spikender]

Another business man with no concept of economics. I think we already have enough of those.

[4_God_N_Country]

If the wage was current to match inflation it would be at $27 an hour.

[juleswin]

That was Clinton's number before the Bernie bros made him to change it to 15 . Regardless, this is his pivot to the left(towards the center), and he is going to go there because he is still pretending that he wants to win the race.

Rand tried to give the middle scraps at the start and the Trump supporters saw it as him selling out to Mitch McConnell. I wonder if the purity Trump supporters would not see this as him selling out to the Clinton's now that he is pivoting hard to the left?

[juleswin]

If the wage was current to match inflation it would be at $27 an hour.

How did you come to that conclusion?

[CPUd]

[4_God_N_Country]

How did you come to that conclusion?

Read it somewhere, not sure where prob zerohedge.

[CaptUSA]

If the wage was current to match inflation it would be at $27 an hour.

No, if the wage was pegged to inflation it would be infinity. Artificially raising the minimum wage also increases inflation.


Money is just a measurement of wealth - changing the lines on a ruler doesn't give you a longer ruler.

[4_God_N_Country]

No, if the wage was pegged to inflation it would be infinity. Artificially raising the minimum wage also increases inflation.


Money is just a measurement of wealth - changing the lines on a ruler doesn't give you a longer ruler.

Nah it makes sense. You used to be able to get lunch for $5 or less in a lot of places and the wage was $7 or more at the time. Now a lunch is between $15 and $20 this day and age so that number is pretty much accurate to go by a real life situation.

$10 an hour just doesn't cut it, even $20 a hour would just be scraping by. I live in California and you have to make $40 an hour just to afford renting a one bedroom.

[juleswin]

Read it somewhere, not sure where prob zerohedge.

Then stop believing everything you read on the internet. $27/hr today's money as minimum wage cannot be sustained by any economy. You do that and robots will take over most low skill jobs tomorrow.

[Anti Federalist]

Then stop believing everything you read on the internet. $27/hr today's money as minimum wage cannot be sustained by any economy. You do that and robots will take over most low skill jobs tomorrow.

I don't recall he said it could be sustained, just a point of fact, that, if pegged to the monetary inflation rate, the MW would be around $27

[CaptUSA]

Nah it makes sense. You used to be able to get lunch for $5 or less in a lot of places and the wage was $7 or more at the time. Now a lunch is between $15 and $20 this day and age so that number is pretty much accurate to go by a real life situation.

$10 an hour just doesn't cut it, even $20 a hour would just be scraping by. I live in California and you have to make $40 an hour just to afford renting a one bedroom.

You're not getting it. If you increased the minimum wage, it would result in a further price inflation... If you pegged it to price inflation, you'd get a never-ending feedback mechanism of rising wages and prices.

[Brian4Liberty]

Asked to clarify his position at a press conference on Wednesday morning in Doral, Florida, Trump said once again that the federal minimum wage should be raised to "at least $10" but that "states should really call the shots."

"As an example, I live in New York. It's very expensive in New York. You can't buy a hot dog for the money you're talking about," Trump said. "You go to other states and it's not expensive at all.

Even smaller regions than the States. Cities/Suburbs/Rural have far different costs of living. Minimum wage is problematic all the way around. And what good is it when so many employers have illegal employees, especially at those minimum levels?

[4_God_N_Country]

Then stop believing everything you read on the internet. $27/hr today's money as minimum wage cannot be sustained by any economy. You do that and robots will take over most low skill jobs tomorrow.

True because most of our jobs went overseas.

[CaptUSA]

True because most of our jobs went overseas.

Let me guess... Trump supporter?

[euphemia]

Believing in a minimum wage at all does not support liberty. I have the right to determine my own worth in the marketplace. If I am willing to do a job for $5 an hour, I should be allowed to do that. I have my foot in the door and I might make $20 an hour in the future. It's up to me and the person who pays me.

[juleswin]

I don't recall he said it could be sustained, just a point of fact, that, if pegged to the monetary inflation rate, the MW would be around $27

What I am trying to say is that it never happened, there was no time in US history that a burger flipper or other minimum wage job was paying $27 per hour. It is a lie and always been a statistics lie. They always bring up in increase in productivity per worker over the years like the increase was average across all professions and then use it to inflate the wages of low skills workers who didn't have much improvement in productivity.

Just think about the average productivity of a 1964 burger flipper and ask yourself if that worker is able to make any less hamburgers per hour than his counterpart in 2016? and the answer is no.

[4_God_N_Country]

Let me guess... Trump supporter?

USA Supporter

[afwjam]

Why not make it eleven? It's one more, so when you are right at the edge and you need a little push, bam! eleven!

this forum has regressed so far that we can only talk about the truth sarcastically like some ancient thing that no one respects any more except for the old farts whose care will be crushed by reality. Lame. Go $#@! yourselves whoever you are, you know who you are, I've got a timing belt to change and dogs to walk. Apathy mode engaged, see you in hell.

[nikcers]

Inflation shouldn't be pegged to minimum wage because government intervention is what causes market distortions which distort prices. The mal investment will create bubbles that cause recessions- rising prices isn't exactly inflation, inflation is like adding air into your tire because it keeps leaking out. The air that your are adding has to come from some where and that is always going to cause a butterfly effect on the entire economy. Trump doesn't understand this concept based on his statements he doesn't understand free markets, he is making minimum wages into a bipartisan issue when it used to be just a liberal thing. He either doesn't understand free markets or he doesn't feel like he can win by telling the truth.

[Spikender]

USA Supporter

You should add TheTexan to your friends list, you guys would make great buddies.

[Anti Federalist]

What I am trying to say is that it never happened, there was no time in US history that a burger flipper or other minimum wage job was paying $27 per hour. It is a lie and always been a statistics lie. They always bring up in increase in productivity per worker over the years like the increase was average across all professions and then use it to inflate the wages of low skills workers who didn't have much improvement in productivity.

Just think about the average productivity of a 1964 burger flipper and ask yourself if that worker is able to make any less hamburgers per hour than his counterpart in 2016? and the answer is no.

Right, I understand all that, all I'm saying is that, if you pegged the MW to fed funny money "inflation", the amount per hour would be around $27.

Whether that would be worth it, or sustainable or ethically right or wrong is a different discussion

[Anti Federalist]

If passing a law would make everybody well off, why not $100 an hour?

Or more.

Why not make it eleven? It's one more, so when you are right at the edge and you need a little push, bam! eleven!

this forum has regressed so far that we can only talk about the truth sarcastically like some ancient thing that no one respects any more except for the old farts whose care will be crushed by reality. Lame. Go $#@! yourselves whoever you are, you know who you are, I've got a timing belt to change and dogs to walk. Apathy mode engaged, see you in hell.

[nikcers]

Right, I understand all that, all I'm saying is that, if you pegged the MW to fed funny money "inflation", the amount per hour would be around $27.

Whether that would be worth it, or sustainable or ethically right or wrong is a different discussion

No because wages aren't decided by how much it costs to live, they are decided by how much it costs to do business. You are just going to increase the cost of doing business here, and our business taxes are already too high. You are going to chase jobs overseas, you are going to have more companies like Burger King going to Canada.

[4_God_N_Country]

You should add TheTexan to your friends list, you guys would make great buddies.

Is she hot? I love Texas girls.

[Anti Federalist]

No because wages aren't decided by how much it costs to live, they are decided by how much it costs to do business. You aren't going to raise the cost of doing business, our business taxes are already too high. You are going to chase jobs over seas, you are going to have more companies like Burger King going to Canada.

Yes, I understand that...maybe I'm not being clear:

The only point I am making, is to illustrate how much the currency has been devalued.

To be worth what $7.25 was worth, say, thirty years ago, it would need to be around $27.

I recall reading the same stat.

[CaptUSA]

USA Supporter

Yes. Because understanding economics means you do not support the USA.

[Spikender]

Is she hot? I love Texas girls.

I don't think you can handle this cowgirl, buddy.

[CaptUSA]

Yes, I understand that...maybe I'm not being clear:

The only point I am making, is to illustrate how much the currency has been devalued.

To be worth what $7.25 was worth, say, thirty years ago, it would need to be around $27.

I recall reading the same stat.

Yes. But if you "pegged" it to inflation, then every time inflation went up, so would the MW. And every time the MW went up, so would inflation. It'd be Zimbabwe! At that point, you're just increasing the money supply to keep up with the rising costs of living. The never-ending battle.