In response to:

Minimum Wage, Maximum Foolishness

D G Wrote: Mar 08, 2013 11:43 AM
There should not be a minimum wage law.
FletchforFreedom Wrote: Mar 08, 2013 1:22 PM
Actually, it IS the ONLY place that creates jobs in the economy. You cannot name another source because NONE exists.
FletchforFreedom Wrote: Mar 08, 2013 1:19 PM
I can easily say it wirth a straight face because it is true. You actually need to LEARN TO READ instead of relying on the spin. The FACT is that the chief driver of inflation since the 1970s has been health care costs which are paid for with benefits. If you factor out health care costs, real wages would have increased substantially. But it is more accurate (as any economist will tell you) to consider total real compensation (which includes benefits) which, again, has steadily and substantially improved:

http://mises.org/community/forums/t/15824.aspx

The graph actuslly COMPLETELY DISPROVES your claim about benefits.

Do try to keep up.
FlamingLiberalMultiCulturalist Wrote: Mar 08, 2013 1:13 PM
"...4) companies invest in their business creating jobs and higher compensation..."

It's far from the only place, but here is arguably where your fantasies most blatantly diverge from reality.
FlamingLiberalMultiCulturalist Wrote: Mar 08, 2013 1:11 PM
"The FACT is that (exception, of course, recessions), total real compenstaion has continually and substantially increased throughout that entire period. "

I don't see how you can say this with a straight face.

http://www.washingtonpost.com/blogs/wonkblog/wp/2012/07/31/wages-arent-stagnating-theyre-plummeting/

http://economix.blogs.nytimes.com/2012/10/22/the-uncomfortable-truth-about-american-wages/

Wages specifically are stagnant or falling. The costs of benefits like healthcare & retirement skyrocket, but employers don't eat those costs, they shift to lower coverage, 401Ks, etc.
FletchforFreedom Wrote: Mar 08, 2013 12:36 PM
BTW, no one except government has "abandoned" the Virtuous Circle of economic growth. The MARKET works as 1) businesses produce things consumers want, 2) consumers meet their needs with those products, 3) companies earn a profit, 4) companies invest in their business creating jobs and higher compensation, 5) economic output and efficiency increases so that more/better things can be produced; go back to (1).

Employers still do this except government undermines profits, forces higher benefits (still compensation), regulates like crazy and undermines job creation.
FletchforFreedom Wrote: Mar 08, 2013 12:23 PM
There IS no "need" for a minimum wage law. And anyone repeating the "wage stagnation" canard at this point merely demonstrates he is incapable of doing the most basic research. The FACT is that (exception, of course, recessions), total real compenstaion has continually and substantially increased throughout that entire period. The FACT is that workers are considerably better off than they were in the 1970s and - if government policies were not killing job creation, millions more would be better off as well.

Should the federal government make life more difficult for low-skilled workers?

I hope everyone will emphatically say “NO!”

Heck, most people understandably will think you’re crazy for even asking such a preposterous question.

But some of those people will also think that it’s a good idea for politicians in Washington to make low-skilled workers less attractive to employers by raising the minimum wage.

I often ask such people whether they are more likely to buy a Big Mac if McDonald’s raises the price by 24 percent. They say they are less likely.

Minimum Wage Cartoon 2