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The cruelest irony of them all is the divergence in short and long term strategy if you're a poor person without good skills. In the short term, learning technical skills is likely your best bet. In the long term, social and creative skills are your best bet. It's pretty hosed.
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May 13, 2015 21:19
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As an Econ grad myself, I find it pretty adorable that someone is legitimately using the Laffer curve to talk about anything.
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Jun 4, 2015 19:17
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ElCondemn posted:He came back and admitted that his diagram does not display data, he also admitted the curve, labels and points on the graph were also arbitrary and meaningless. So if you look at the diagram with the understanding that it means nothing and tells us nothing about reality it's clear that it's doing exactly what he intended it to do the whole time. To be fair, the Laffer curve does look exactly like that in Econ 101 textbooks - a convex curve that is perfectly smooth, with revenue on the Y axis and tax on the X axis. That is, there's no basis in reality to it.
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Jun 4, 2015 19:22
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OMFG he really posted a linear supply and demand graph assuming perfect elasticity and substitutability, holy poo poo
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Jun 4, 2015 19:24
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FYI the "just world fallacy" has to do with the justness of outcomes, not prerequisites
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Jun 4, 2015 20:08
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JC's argument is literally as subtle as "well you can drown in water, so we can all agree that too much water can kill you. Therefore everyone must die of thirst"
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Jun 4, 2015 22:22
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I just think it's very telling that we're having these discussions now, since it seems to perfectly coincide with white people feeling the pinch and realizing "hey, maybe the rich whites aren't going to take me to Rand Island after all"
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Jun 10, 2015 14:20
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BI NOW GAY LATER posted:I am not sure why this is supposed to be profound? White people spent virtually the last half-century convincing themselves that they were all upper-middle class Americans and that the wealth gap wasn't that far away and that we can all have two cars, a house and 2.5 kids.It took basically a new Great Depression to break that. Who said it was supposed to be profound? You basically just restated exactly what I posted, that we're suddenly very concerned about wealth inequality because it's getting a little too hard to convince all the white folks that their embarrassment is temporary.
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Jun 10, 2015 21:48
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ratbert90 posted:What's the best way to tell people they are idiots for thinking that the cost of labor is not in fact 100% in proportion to the cost of goods, and that if you raise the minimum wage 2x, that will not increase the price of goods by 2x? Don't bother? I mean if they don't understand quite literally lemonade stand levels of business, they probably never will if they're already adults. Wait a minute, maybe that's why they think that! Since the labor at your lemonade stand is "free" and mom's paying for the cups, doubling the cost of Country Time Lemonade Mix really would double the price at the same level of profit!
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Jun 15, 2015 20:37
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wateroverfire posted:How would you go about figuring out what the change in the price of goods would be? That's a PhD level question, the more important point is that labor makes up somewhere between virtually nothing to a significant, much less than 100% chunk of a given product's cost of goods.
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Jun 15, 2015 22:42
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Who gives a poo poo, what matters is how much they increase.
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Jun 22, 2015 21:34
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Has anyone argued that minimum wage increases won't increase prices? Of course it will. The issue is whether that's an acceptable tradeoff (it is).
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Jun 22, 2015 22:20
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Geriatric Pirate posted:Maybe instead of posting here 40 times per day complaining about how poor you are, you could, you know, get a job? I'm guessing most people don't do that, which is why, like the BLS says, working full time and being poor is quite an achievement. Just wanted to wade into this to say you're dumb as gently caress. People who can't get jobs don't get ones that allow them to post on the Internet, like I do.
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Jun 22, 2015 23:07
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Geriatric Pirate posted:Poster "Literally the Worst" has 40000 posts on these forums and also wants the government to give him more money. I don't know what you're talking about, just wanted to throw it out there since you don't understand literally anything about working in America. I post much, much, much more now that I have a better job.
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Jun 22, 2015 23:10
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Literally The Worst posted:Fun fact about tips in America: Never tip your server/driver/bartender/whatever on your credit card receipt unless you're too drunk to recognize denominations on your paper money. We get taxed on tips that go on your card, because they go into the system when you get charged for it. Always tip cash, 100% of that will go in your server's pocket Except the IRS has cracked down hard on this awhile back. Tipped workers now need to keep pretty close track of how much money they received in cash tips, or the IRS will assume a value and just go with it. Thousands in credit tips and zero cash tips is no longer acceptable.
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Jun 24, 2015 18:11
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An increase in the price of lovely, obesity-causing food causing a shift to other higher-quality sources of food that are now affordable due to a higher wage? What's the issue here, again? Taxing soda in Mexico has reduced soda consumption and, surprise surprise, not decreased the real median income. People just drink less soda. In this case, people consume fewer services that are highly dependent on exploited people. Again, not a bad thing.
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Jun 24, 2015 18:17
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JeffersonClay posted:So the minimum wage is good because it will put lots of fast food restaurants out of business. And it will somehow also not negatively affect employment. Think this through. The additional money velocity that a higher minimum wage would give would stimulate the economy to a much greater extent than the economy is dragged down by Wendy's closing a few locations. It *may* negatively impact employment in the short term, which will then rebound. One of the primary reasons to raise the minimum wage is to force business and the wealthy to stop doing loving nothing with their money. I'd be happy with not raising the minimum wage if domestic reinvestment of 90% of profits were mandatory, for example, or if spending 90% of your profits on domestically-manufactured jet plane demolition derbies were required.
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Jun 24, 2015 19:23
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