Elizabeth Warren: Why Isn't The Minimum Wage Today $22/Hour?

[kcchiefs6465]

"We" do not hate bankers. Bankers aren't the problem. Socialist politicians who bail bankers out are the problem.

I assure you she will never be a libertarian. She is an out of control socialist that will be perfectly happy to run your life for you.

I hate usurers.

 

[misean]

I hate usurers.

I assume you are joking. But just in case people who lend at high rates of interest provide an extremely valuable service. They provide credit to people otherwise couldn't get credit. Caps on credit rates just serve to limit the amount of credit.

 

[jbauer]

No. I don't agree with Warren's statement. I do not believe minimum wage needs to be raised. Though, I can see by my statement how that might be inferred. I don't think a minimum wage needs to be dictated by the government. I do believe that we need to have competing forms of currency if the U.S. dollar has been debased to the point that it has. Which is more to my point.

I wasn't trying to imply that you thought a higher minimum wage was the correct answer. I was saying that at least in principal the Paul camp and the Warren camp are pointing to a rigged system that is destroying our economy. You used sliver vs dollars to show its distortion. She used minimum wage vs dollars to show the same distortion. A quick google search says that minimum wage in 1960 was $1/hr and that silver was $0.90/oz. Today spot price is $28.99/oz. Seems to me to be pretty close to what she says the minimum wage should be. Reflecting the same root problem.

 

[supermario21]

Funny how Warren used to be a Republican until the mid-90s, then veered this way. She could have easily latched onto the Paul movement.

 

[anaconda]

Disagree, lower wage workers today just have different skills then they did in the 60s. Get one of those 1960's cashiers to run a 2013 cash register. The same would be true if the rolls were reversed.

The economic data illustrates a divergence in the trending for the real wage among Americans between lower skill sets and higher skill sets. Previous to this divergence (pre 1980's I think) both the real wage for skilled vs. unskilled labor increased together (both upward) with productivity gains. But this is a thing of the past. The point is: "One of those 1960's cashiers" has not acquired the skill set to contribute the same marginal revenue product to a firm in 2012. So, yes "get them to do it" would be good, the question is "how?" Since you mentioned "cashier," keep in mind that cashiers now wave the purchase item over a bar code reader, rather than strike a large keypad with one hand while looking at and processing the customer's shopping haul with the other. And Cisco networking certifications did not exist in 1960. Etc.

 

[kcchiefs6465]

I assume you are joking. But just in case people who lend at high rates of interest provide an extremely valuable service. They provide credit to people otherwise couldn't get credit. Caps on credit rates just serve to limit the amount of credit.

They provide credit at exorbitant rates to people who clearly cannot and will not ever pay. They loan out monies they do not have. [another issue] Then they rely on their 'too big to fail, too big to prosecute' crony government sponsored bullshit to remain afloat after confiscating things of actual value and investing in actual worth. No, I am not joking. I hate usurers, I hate banksters. I despise those who create wealth from 'the flick of a pen.' [those who actually steal the value of what you've worked for, by said 'flick of the pen' or entry into a computer]

Perhaps that falls back to your previous post of socialist politicians being in bed with them.

The Rothschilds, and that class of money-lenders of whom they are the representatives and agents - men who never think of lending a shilling to their next-door neighbors, for purposes of honest industry, unless upon the most ample security, and at the highest rate of interest - stand ready, at all times, to lend money in unlimited amounts to those robbers and murderers, who call themselves governments, to be expended in shooting down those who do not submit quietly to being robbed and enslaved.- Lysander Spooner

And the men who loan money to governments, so called, for the purpose of enabling the latter to rob, enslave, and murder their people, are among the greatest villains that the world has ever seen. And they as much deserve to be hunted and killed (if they cannot otherwise be got rid of) as any slave traders, robbers, or pirates that ever lived.- Lysander Spooner

That about sums up my feelings.

 

[misean]

They provide credit at exorbitant rates to people who clearly cannot and will not ever pay. They loan out monies they do not have. [another issue] Then they rely on their 'too big to fail, too big to prosecute' crony government sponsored bullshit to remain afloat after confiscating things of actual value and investing in actual worth. No, I am not joking. I hate usurers, I hate banksters. I despise those who create wealth from 'the flick of a pen.' [those who actually steal the value of what you've worked for, by said 'flick of the pen' or entry into a computer]

Perhaps that falls back to your previous post of socialist politicians being in bed with them.


That about sums up my feelings.

Bankers don't just create wealth from the flick of the pen. They substitute liquidity by taking risk. A farmer who wants to expand his business might not have the capital for new equipment. He goes to a bank to get the capital. Liquidity isn't a problem for the bank. The bank then provides a service and gets paid for it. The farmer wins. The bank wins. The people then get the production of the farmer win.

 

[jbauer]

The economic data clearly illustrates a divergence in the trending for the real wage among Americans between lower skill sets and higher skill sets. Previous to this divergence both the real wage for skilled vs. unskilled labor increased together (both upward) with productivity gains. But this is a thing of the past. The point is: "One of those 1960's cashiers" has not acquired the skill set to contribute the same marginal revenue product to a firm in 2012. So, yes "get them to do it" would be good, the question is "how?" Since you mentioned "cashier," keep in mind that cashiers now wave the purchase item over a bar code reader, rather than strike a large keypad with one hand while looking at and processing the customer's shopping haul with the other. Etc.

OR....the "skilled" workers are taking home more then their fair share of the pie. One need to look no further then the divergance between hourly workers and CEO's. I would imagine if you took out upper managment the numbers would be significantly closer. (And yes I know what I just typed sounds very socialist!!)

 

[thoughtomator]

"We" do not hate bankers. Bankers aren't the problem. Socialist politicians who bail bankers out are the problem.

I assure you she will never be a libertarian. She is an out of control socialist that will be perfectly happy to run your life for you.

If you don't hate the bankers you aren't paying attention. They, not the government, are the prime movers in the usurpation of our government and depletion of the wealth of the nation. They own your money, they own the government, they own the media, and they are convinced that they own you as well.

"Give me control of a nation's currency and I care not who makes her laws." - Mayer Rothschild

 

[kcchiefs6465]

Bankers don't just create wealth from the flick of the pen. They substitute liquidity by taking risk. A farmer who wants to expand his business might not have the capital for new equipment. He goes to a bank to get the capital. Liquidity isn't a problem for the bank. The bank then provides a service and gets paid for it. The farmer wins. The bank wins. The people then get the production of the farmer win.

I am not referring to honest banks making an honest living. [are there still any of those around?..] I am referring to this dishonest cabal of international banksters that have hijacked our country. Specifically,

- men who never think of lending a shilling to their next-door neighbors, for purposes of honest industry, unless upon the most ample security, and at the highest rate of interest - stand ready, at all times, to lend money in unlimited amounts to those robbers and murderers, who call themselves governments, to be expended in shooting down those who do not submit quietly to being robbed and enslaved

 

[VoluntaryAmerican]

Is Warren a Communist?

 

[jbauer]

Bankers don't just create wealth from the flick of the pen. They substitute liquidity by taking risk. A farmer who wants to expand his business might not have the capital for new equipment. He goes to a bank to get the capital. Liquidity isn't a problem for the bank. The bank then provides a service and gets paid for it. The farmer wins. The bank wins. The people then get the production of the farmer win.

You're right, banksters create wealth with the touch of a keyboard. Government creates weath with the flick of a pen. The reason the farmer is paying interest on the loan is there is a "risk" to the bank that he might not pay it back. When we take that risk off the table through government bailouts and artificially low rates the bank takes no risk but still get paid for it by us.

 

[angelatc]

If you think that I of all people am liberal, you are indeed crazy.

God forbid someone should make points that don't adhere to your biases.

My bias is reality. If a days work is not enough to provide sustenance, then a person will not bother to work, but asserting that labor has to have some minimum value that entails an arbitrary standard of living lest we devolve into barbarism is condescending, self-righteous liberalism that has nothing to do with free markets.

 

[angelatc]

Is Warren a Communist?

Either that or a lizard person. Maybe both.

 

[anaconda]

OR....the "skilled" workers are taking home more then their fair share of the pie. One need to look no further then the divergance between hourly workers and CEO's. I would imagine if you took out upper managment the numbers would be significantly closer. (And yes I know what I just typed sounds very socialist!!)

Please define "their fair share of the pie." Are you implying that businesses are "giving away" money to "skilled" labor? They pay a market rate for a given skill.

 

[misean]

I am not referring to honest banks making an honest living. [are there still any of those around?..] I am referring to this dishonest cabal of international banksters that have hijacked our country. Specifically,

I guess I don't know enough about international bankers.

I thought you were talking about investment banks and commercial lenders. Those two groups provide valuable services.

You're right, banksters create wealth with the touch of a keyboard. Government creates weath with the flick of a pen. The reason the farmer is paying interest on the loan is there is a "risk" to the bank that he might not pay it back. When we take that risk off the table through government bailouts and artificially low rates the bank takes no risk but still get paid for it by us.

That's clearly a fault of government. Banks are businesses. They want survive and profit like any other business. If they can get bailed out and lobby for special treatment that isn't their fault. That is the fault of elected officials.

Enough from my tangent.

 

[angelatc]

If you don't hate the bankers you aren't paying attention. They, not the government, are the prime movers in the usurpation of our government and depletion of the wealth of the nation. They own your money, they own the government, they own the media, and they are convinced that they own you as well.

"Give me control of a nation's currency and I care not who makes her laws." - Mayer Rothschild

Just because I blame the government for selling itself and not the bankers who bought it does not mean I am not paying attention.

 

[VoluntaryAmerican]

Either that or a lizard person. Maybe both.

Warren, Obama and McCain. 3 of a kind.

 

[angelatc]

OR....the "skilled" workers are taking home more then their fair share of the pie. One need to look no further then the divergance between hourly workers and CEO's. I would imagine if you took out upper managment the numbers would be significantly closer. (And yes I know what I just typed sounds very socialist!!)

There's a reason for that. Skilled workers taking home more than their fair share? CEOs making more than the employees?

Dude.....

 

[anaconda]

Warren, Obama and McCain. 3 of a kind.

Moss-covered lizards!