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Read the rules in the OP before posting, please.

In order to ensure that this thread continues to meet TL standards and follows the proper guidelines, we will be enforcing the rules in the OP more strictly. Be sure to give them a re-read to refresh your memory! The vast majority of you are contributing in a healthy way, keep it up!

NOTE: When providing a source, explain why you feel it is relevant and what purpose it adds to the discussion if it's not obvious.
Also take note that unsubstantiated tweets/posts meant only to rekindle old arguments can result in a mod action.
rezoacken
Profile Joined April 2010
Canada2719 Posts
March 09 2016 23:17 GMT
#64981
Isn't finland testing something like that ?
Either we are alone in the Universe or we are not. Both are equally terrifying.
Naracs_Duc
Profile Joined August 2015
746 Posts
March 09 2016 23:19 GMT
#64982
On March 10 2016 07:57 Velr wrote:
So your argument is:

The system is broken so lets break it alltogether?


He's saying that minimum wage is a false herring when discussing poverty and livelihood when used within a capitalist system that leans on relativistic value instead of production based value.

If everyone had a higher minimum wage, the current price values will adapt accordingly and minimum wage at $15 will be the same as minimum wage at $7. Why? Because right now items are priced on demand more than its inherent value. Prices will rise continually until the same % of the population purchases the items as before. And suddenly we will have another movement for another minimum wage.

He is instead suggesting a universal wage law that essentially puts a wage cap, this cap prevents inflation as people can't simply be able to afford the increased cost of goods due to demand.
Belisarius
Profile Joined November 2010
Australia6233 Posts
Last Edited: 2016-03-10 00:01:02
March 09 2016 23:22 GMT
#64983
On March 10 2016 08:17 rezoacken wrote:
Isn't finland testing something like that ?

Quite a lot of countries are considering it.

Switzerland is about to have a referendum on the issue. Finland is doing preliminary stuff around implementation. Ontario is actually about to try it in Canada, as well.

EDIT:
On March 10 2016 08:19 Naracs_Duc wrote:
He is instead suggesting a universal wage law that essentially puts a wage cap, this cap prevents inflation as people can't simply be able to afford the increased cost of goods due to demand.

I'm pretty sure a wage cap is quite different to a universal basic income...
Deleted User 137586
Profile Joined January 2011
7859 Posts
March 09 2016 23:22 GMT
#64984
On March 10 2016 08:17 rezoacken wrote:
Isn't finland testing something like that ?


Actually, neither Finland, Sweden and Denmark have a minimum wage. Either you get the minimum negotiated by what amounts to your trade union or you negotiate yourself and hope you get a fair deal. Source (in finnish)
Cry 'havoc' and let slip the dogs of war
oneofthem
Profile Blog Joined November 2005
Cayman Islands24199 Posts
Last Edited: 2016-03-09 23:27:41
March 09 2016 23:26 GMT
#64985
the sides do pick and choose effects to emphasize and ignore, but even proponents should recognize that the minimum wage is an imperfect tool. the existence of the black market for labor is probably an efficient breach of the law and mitigate the negative emploiyment effect somewhat.

on the upside there is no question that there is some distributional effect at play. it will shift some income to the workers from some owners, particularly established businesses. some people also think it helps to foster longer term thinking for employers. if you pay the employees more, you would want to have better training and such to keep them at higher capacity. the transitory jobs are those that are hit hardest by the minimum wage, but they probably also breach under the minimum.

as long as the black market is operating it should be fine to have a minimum wage.


inflation doesn't come in unless you really step on the gas with the minimum wage. a 15$ would probably get some inflation going.
We have fed the heart on fantasies, the heart's grown brutal from the fare, more substance in our enmities than in our love
WhiteDog
Profile Blog Joined November 2010
France8650 Posts
Last Edited: 2016-03-09 23:28:58
March 09 2016 23:27 GMT
#64986
On March 10 2016 08:19 Naracs_Duc wrote:
Show nested quote +
On March 10 2016 07:57 Velr wrote:
So your argument is:

The system is broken so lets break it alltogether?


He's saying that minimum wage is a false herring when discussing poverty and livelihood when used within a capitalist system that leans on relativistic value instead of production based value.

If everyone had a higher minimum wage, the current price values will adapt accordingly and minimum wage at $15 will be the same as minimum wage at $7. Why? Because right now items are priced on demand more than its inherent value. Prices will rise continually until the same % of the population purchases the items as before. And suddenly we will have another movement for another minimum wage.

He is instead suggesting a universal wage law that essentially puts a wage cap, this cap prevents inflation as people can't simply be able to afford the increased cost of goods due to demand.

A higher min wage does not impact equally on the entire scale of wages, but actually reduce income inequalities (most of the effect of an increase in min wage are relevant up to 1.6 x the min wage if I remember correctly - the evolution is not heterogeneous). Plus, a general increase of the price of goods (inflation - that could be caused by an increase of the min wage, altho we could discuss this hypothesis) does not change nothing, it would actually decrease the value of savings. It would indeed have no effect on the purchasing power of people that use their entire income for consumption, the poor, but it have negative effect on people that save (because the value of their savings would decrease more) - effectively forcing investment.

I'm all for changing the system by the way. Also, there is nothing bad in constantly increasing the min wage every year.
"every time WhiteDog overuses the word "seriously" in a comment I can make an observation on his fragile emotional state." MoltkeWarding
trulojucreathrma.com
Profile Blog Joined December 2015
United States327 Posts
Last Edited: 2016-03-09 23:29:47
March 09 2016 23:28 GMT
#64987
Wage cap? Doesn't that usually refer to the top income? Usually called a salary cap?

Donno about inflation. Don't have a PhD in economics, and even if I had, wouldn't dare to predict the economy

With a minimum wage you always either sit it too low, and put people too close to the poverty line.
Or you set it too high, and people can't find an employer willing pay the minimum wage for their skills.
The higher you set the minimum wage, the less people that will actually get it.
Deleted User 137586
Profile Joined January 2011
7859 Posts
March 09 2016 23:30 GMT
#64988
On March 10 2016 08:27 WhiteDog wrote:
Show nested quote +
On March 10 2016 08:19 Naracs_Duc wrote:
On March 10 2016 07:57 Velr wrote:
So your argument is:

The system is broken so lets break it alltogether?


He's saying that minimum wage is a false herring when discussing poverty and livelihood when used within a capitalist system that leans on relativistic value instead of production based value.

If everyone had a higher minimum wage, the current price values will adapt accordingly and minimum wage at $15 will be the same as minimum wage at $7. Why? Because right now items are priced on demand more than its inherent value. Prices will rise continually until the same % of the population purchases the items as before. And suddenly we will have another movement for another minimum wage.

He is instead suggesting a universal wage law that essentially puts a wage cap, this cap prevents inflation as people can't simply be able to afford the increased cost of goods due to demand.

A higher min wage does not impact equally on the entire scale of wages, but actually reduce income inequalities (most of the effect of an increase in min wage are relevant up to 1.6 x the min wage if I remember correctly - the evolution is not heterogeneous). Plus, a general increase of the price of goods (inflation - that could be caused by an increase of the min wage, altho we could discuss this hypothesis) does not change nothing, it would actually decrease the value of savings. It would indeed have no effect on the purchasing power of people that use their entire income for consumption, the poor, but it have negative effect on people that save (because the value of their savings would decrease more) - effectively forcing investment.

I'm all for changing the system by the way. Also, there is nothing bad in constantly increasing the min wage every year.


Concepts missing from this discussion: real wages, labour costs, spending, investment and confidence.
Cry 'havoc' and let slip the dogs of war
WhiteDog
Profile Blog Joined November 2010
France8650 Posts
Last Edited: 2016-03-09 23:36:00
March 09 2016 23:32 GMT
#64989
On March 10 2016 08:28 trulojucreathrma.com wrote:
Wage cap? Doesn't that usually refer to the top income? Usually called a salary cap?

Donno about inflation. Don't have a PhD in economics, and even if I had, wouldn't dare to predict the economy

With a minimum wage you always either sit it too low, and put people too close to the poverty line.
Or you set it too high, and people can't find an employer willing pay the minimum wage for their skills.

Here is my point of view : there are no real solutions to everything related to redistribution in economy because the redistribution of the wealth produced, even if it is a key factor in the efficiency of an economic system, is a political question at the end of all things.

On March 10 2016 08:30 Ghanburighan wrote:
Show nested quote +
On March 10 2016 08:27 WhiteDog wrote:
On March 10 2016 08:19 Naracs_Duc wrote:
On March 10 2016 07:57 Velr wrote:
So your argument is:

The system is broken so lets break it alltogether?


He's saying that minimum wage is a false herring when discussing poverty and livelihood when used within a capitalist system that leans on relativistic value instead of production based value.

If everyone had a higher minimum wage, the current price values will adapt accordingly and minimum wage at $15 will be the same as minimum wage at $7. Why? Because right now items are priced on demand more than its inherent value. Prices will rise continually until the same % of the population purchases the items as before. And suddenly we will have another movement for another minimum wage.

He is instead suggesting a universal wage law that essentially puts a wage cap, this cap prevents inflation as people can't simply be able to afford the increased cost of goods due to demand.

A higher min wage does not impact equally on the entire scale of wages, but actually reduce income inequalities (most of the effect of an increase in min wage are relevant up to 1.6 x the min wage if I remember correctly - the evolution is not heterogeneous). Plus, a general increase of the price of goods (inflation - that could be caused by an increase of the min wage, altho we could discuss this hypothesis) does not change nothing, it would actually decrease the value of savings. It would indeed have no effect on the purchasing power of people that use their entire income for consumption, the poor, but it have negative effect on people that save (because the value of their savings would decrease more) - effectively forcing investment.

I'm all for changing the system by the way. Also, there is nothing bad in constantly increasing the min wage every year.


Concepts missing from this discussion: real wages, labour costs, spending, investment and confidence.

Not at all. But feel free to explain me.
"every time WhiteDog overuses the word "seriously" in a comment I can make an observation on his fragile emotional state." MoltkeWarding
oneofthem
Profile Blog Joined November 2005
Cayman Islands24199 Posts
March 09 2016 23:38 GMT
#64990
apparently hillary made a visit to her loyal troopers on reddit. go hillary
We have fed the heart on fantasies, the heart's grown brutal from the fare, more substance in our enmities than in our love
iPlaY.NettleS
Profile Blog Joined June 2010
Australia4428 Posts
March 09 2016 23:45 GMT
#64991
On March 10 2016 07:05 Velr wrote:
We actually will have a vote about a baseline income for everyone in Switzerland (and the Finns iirc are planning to do some experiment?)

Main reason for it:
It wouldn't be much (if at all) more expensive than normal social services (facture in the whole "social" industry which would become way smaller, not inexistant because people that just can't handle money would still need help).

So you basically cut TONS of buerocracy and people get what they would get anyway whiteout running thru a miriads of loops. Could this be exploited - No/much less (having more babies to get more money could be named an exploit), but the baseline is everyone gets the same no matter what.
Our system right now? Well, a tiny fraction of the people are exploiting the systems, which actually isn't hard at all, but the B I G majority of people still go to work because... More money/dignity/something to do, whatever, tons of reasons .

Now in the US, with its horrid social services, this might seem even more alien than here (it also does here) but it is an interesting tought experiment.

Yeah, great idea with 1.5 million destitute migrants flooding Europe every year.Man the floodgates.
https://www.youtube.com/watch?v=e7PvoI6gvQs
{CC}StealthBlue
Profile Blog Joined January 2003
United States41117 Posts
March 09 2016 23:51 GMT
#64992
Medicare is going to test new ways to reimburse doctors for medications, in hopes they'll choose less expensive drugs.

The plan would alter Medicare Part B, which pays for medicines administered in doctors offices or outpatient hospital clinics — to eliminate incentives for doctors to use the most expensive drugs.

The changes would have an outsize effect on cancer doctors and clinics. Medicare Part B shelled out about $7.8 billion on cancer drugs in 2014, or 42 percent of its total spending on drugs that year.

The program now reimburses the doctors or clinics for the cost of the medication plus a 6 percent fee. That means doctors and hospitals earn more money when they use pricier drugs.

As it is now, Dr. Patrick Conway, chief medical officer for the Centers for Medicare and Medicaid Services, called the reimbursement structure "perverse."

"We've heard from oncologists who feel pressure from their health system to pick higher cost drugs even when they are not appropriate for a patient," he said in a conference call with reporters on Tuesday.

The agency plans to test a reimbursement formula that would pay the cost of the drug, plus a 2.5 percent surcharge and a flat fee of $16.80.


Source
"Smokey, this is not 'Nam, this is bowling. There are rules."
Belisarius
Profile Joined November 2010
Australia6233 Posts
March 09 2016 23:54 GMT
#64993
That seems like a very strange way to design a payment structure.

Someone was either extremely dumb or extremely indebted to pharma.
{CC}StealthBlue
Profile Blog Joined January 2003
United States41117 Posts
March 09 2016 23:57 GMT
#64994
To his colleagues, it’s no mystery why Sen. Ted Cruz (R-TX) has no endorsements from his fellow senators.

But as Cruz fights to make the case that backing him is the best way to defeat frontrunner Donald Trump, Republican senators aren’t budging, according to a Tuesday report from Bloomberg Politics.

Asked by Bloomberg why they aren’t backing Cruz, senators responded with awkward chuckles, long silences, and evading the reporter by ducking into a restricted elevator. Sen. Richard Shelby (R-AL) responded by saying he was headed to lunch.

“I think it’s a whole list of things,” Sen. Dan Coats (R-IN) told Bloomberg. He also said “everybody knows why” Cruz lacks support in the Senate.

While a number of senators—Orrin Hatch (R-UT), Jeff Flake (R-AZ), and Pat Roberts (R-KS) among them—said they would stay the course backing Sen. Marco Rubio (R-FL), Sen. Lindsey Graham (R-SC), who dropped out of the presidential race late last year, conceded he at least thinks the Texas senator is a true conservative.

“Ted Cruz is not my preferential choice, but I believe he's a Republican conservative and Trump’s not,” Graham told Bloomberg. “Bottom line is I think he’s more electable than Trump. I don’t know how much that is.”

Others told Bloomberg they were still salty about Cruz’s driving role in the 2013 government shutdown.


Source
"Smokey, this is not 'Nam, this is bowling. There are rules."
oneofthem
Profile Blog Joined November 2005
Cayman Islands24199 Posts
March 09 2016 23:59 GMT
#64995
perhaps you were looking for 'literally cancer'
We have fed the heart on fantasies, the heart's grown brutal from the fare, more substance in our enmities than in our love
Bigtony
Profile Blog Joined June 2011
United States1606 Posts
March 10 2016 00:00 GMT
#64996
On March 10 2016 08:45 iPlaY.NettleS wrote:
Show nested quote +
On March 10 2016 07:05 Velr wrote:
We actually will have a vote about a baseline income for everyone in Switzerland (and the Finns iirc are planning to do some experiment?)

Main reason for it:
It wouldn't be much (if at all) more expensive than normal social services (facture in the whole "social" industry which would become way smaller, not inexistant because people that just can't handle money would still need help).

So you basically cut TONS of buerocracy and people get what they would get anyway whiteout running thru a miriads of loops. Could this be exploited - No/much less (having more babies to get more money could be named an exploit), but the baseline is everyone gets the same no matter what.
Our system right now? Well, a tiny fraction of the people are exploiting the systems, which actually isn't hard at all, but the B I G majority of people still go to work because... More money/dignity/something to do, whatever, tons of reasons .

Now in the US, with its horrid social services, this might seem even more alien than here (it also does here) but it is an interesting tought experiment.

Yeah, great idea with 1.5 million destitute migrants flooding Europe every year.Man the floodgates.


Switzerland isn't part of the EU, so they actually can close the floodgates.
Push 2 Harder
Sbrubbles
Profile Joined October 2010
Brazil5776 Posts
Last Edited: 2016-03-10 00:12:02
March 10 2016 00:02 GMT
#64997
On March 10 2016 08:28 trulojucreathrma.com wrote:
Wage cap? Doesn't that usually refer to the top income? Usually called a salary cap?

Donno about inflation. Don't have a PhD in economics, and even if I had, wouldn't dare to predict the economy

With a minimum wage you always either sit it too low, and put people too close to the poverty line.
Or you set it too high, and people can't find an employer willing pay the minimum wage for their skills.
The higher you set the minimum wage, the less people that will actually get it.


At some point, yes, minimum wage does affect formal employment negatively, but there's evidence for the US that currently there's leeway to raise it before encountering said effects. Here's a quick link to one of the most recent posts on economistsview about it. Its just an example, of course, not a review of the literature ;p

http://www.news.cornell.edu/stories/2016/01/restaurant-industry-unharmed-modest-minimum-wage-hikes

edit; also there should be no long term effect on the price level. If big enough, maybe there would be a slight short term boost in demand because the poorer you are the more you spend of your income, maybe there would be a slight medium term change in industrial composition from luxury to basic goods if inequality is affected, but thats it. And this is iffy anyway
Bora Pain minha porra!
Sbrubbles
Profile Joined October 2010
Brazil5776 Posts
Last Edited: 2016-03-10 00:03:37
March 10 2016 00:03 GMT
#64998
oops double post
Bora Pain minha porra!
{CC}StealthBlue
Profile Blog Joined January 2003
United States41117 Posts
March 10 2016 00:04 GMT
#64999
The Oregon militia members who occupied a wildlife refuge in protest of the government could face decades in prison under a set of new criminal charges, including firearm offenses, theft of public property and damaging a Native American archaeological site.

Federal prosecutors in Portland have greatly expanded their case against brothers Ammon and Ryan Bundy and more than a dozen defendants who participated in the armed takeover of the Malheur national wildlife refuge in the high-profile standoff that began 2 January and dragged on for 41 days in rural Oregon.

Last month, after the final four occupiers surrendered to the FBI, officials arrested and charged a total of 25 people for their roles in the armed anti-government demonstration on public lands controlled by the federal government.

The rightwing activists, who traveled from across the US to protest the government’s land-use restrictions in the west, are all accused of using “force, intimidation and threats” to conspire against and impede government officials – a federal felony offense that carries a maximum sentence of six years in prison.

But on Wednesday, prosecutors unveiled a slew of new charges against 19 of the 25 defendants in the case – an indication that the federal government plans to aggressively target the protesters, some of whom could face more than 20 years in prison if convicted of all the offenses.

In a newly unsealed grand jury indictment, 19 of them are now also charged with possessing firearms and dangerous weapons in federal facilities – an offense that could carry up to five years in prison.

Nine of those defendants are also facing new charges of using and carrying a firearm in relation to a violent crime – an offense that mandates a minimum sentence of five years. That charge carries a similar mandatory minimum as the offense that led to the prosecution and imprisonment of two Oregon ranchers whose case inspired the Malheur standoff.


Source
"Smokey, this is not 'Nam, this is bowling. There are rules."
Plansix
Profile Blog Joined April 2011
United States60190 Posts
March 10 2016 00:05 GMT
#65000
On March 10 2016 09:00 Bigtony wrote:
Show nested quote +
On March 10 2016 08:45 iPlaY.NettleS wrote:
On March 10 2016 07:05 Velr wrote:
We actually will have a vote about a baseline income for everyone in Switzerland (and the Finns iirc are planning to do some experiment?)

Main reason for it:
It wouldn't be much (if at all) more expensive than normal social services (facture in the whole "social" industry which would become way smaller, not inexistant because people that just can't handle money would still need help).

So you basically cut TONS of buerocracy and people get what they would get anyway whiteout running thru a miriads of loops. Could this be exploited - No/much less (having more babies to get more money could be named an exploit), but the baseline is everyone gets the same no matter what.
Our system right now? Well, a tiny fraction of the people are exploiting the systems, which actually isn't hard at all, but the B I G majority of people still go to work because... More money/dignity/something to do, whatever, tons of reasons .

Now in the US, with its horrid social services, this might seem even more alien than here (it also does here) but it is an interesting tought experiment.

Yeah, great idea with 1.5 million destitute migrants flooding Europe every year.Man the floodgates.


Switzerland isn't part of the EU, so they actually can close the floodgates.

And refugees give zero fucks about welfare and social services because they know they won't get them. They want jobs.
I have the Honor to be your Obedient Servant, P.6
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