LogFAQs > #950001238

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Topic	"In 1935, the minimum hourly wage in the U.S. was set at 25¢.
Balrog0 01/27/21 10:55:37 PM #76:	asdf8562 posted... ...I dont even know where to begin with how ignorant this post is. The math actually does matter when it comes to economics and you are literally all kinds of wrong in so many areas... I mean some have already addressed a few areas like inflation and the market value of jobs going up or down, which the math actually matter when speaking of the value of someone's job lol. Your over simplification of the matter really shows here that you likely don't even fully understand inflation if at all. I mean if you were like poster 73 who is saying he/she doesn't care/mind/whatever we could be having a different discussion. However your doubling down on the math on the value of a job, which is just wrong. You're the one oversimplifying things. Like I said already, making a certain percentage of the minimum wage or the prevailing wage isn't what's meaningful. What's meaningful is what you can get with your money. The research is pretty clear that low wage workers, including those making above the minimum wage, benefit based on that standard. Would you like me to show you some of the best research in the area? I would be happy to share it with you. MI4 REAL posted... When minimum wage went up back then, my wage did not go up. (I was above min wage at the time.) It's the overall net effect for low wage workers, but that sucks for you. I know my mom got a wage increase even though she made over the minimum wage at Walmart. And I made minimum wage at McDonald's when it went up, my income went up too. What a good year for a low income household --- Trying to dunk since July 2020 <cite>Balrog0 posted [p:950001238] in "In 1... [t:79247699]...</cite> <quote>asdf8562 posted... </cite> <quote>...I dont even know where to begin with how ignorant this post is. The math actually does matter when it comes to economics and you are literally all kinds of wrong in so many areas... I mean some have already addressed a few areas like inflation and the market value of jobs going up or down, which the math actually matter when speaking of the value of someone's job lol. Your over simplification of the matter really shows here that you likely don't even fully understand inflation if at all. I mean if you were like poster 73 who is saying he/she doesn't care/mind/whatever we could be having a different discussion. However your doubling down on the math on the value of a job, which is just wrong.</quote> You're the one oversimplifying things. Like I said already, making a certain percentage of the minimum wage or the prevailing wage isn't what's meaningful. What's meaningful is what you can get with your money. The research is pretty clear that low wage workers, including those making above the minimum wage, benefit based on that standard. Would you like me to show you some of the best research in the area? I would be happy to share it with you. MI4 REAL posted... </cite> <quote>When minimum wage went up back then, my wage did not go up. (I was above min wage at the time.)</quote> It's the overall net effect for low wage workers, but that sucks for you. I know my mom got a wage increase even though she made over the minimum wage at Walmart. And I made minimum wage at McDonald's when it went up, my income went up too. What a good year for a low income household --- Trying to dunk since July 2020</quote> ... Copied to Clipboard!
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