<< <i>I can see technology very quickly replacing many of the fast food workers.....this may allow for a wage increase for the remainder.... but less jobs mean more unemployment... Cheers, RickO >>
Folks will also stop eating out as much as prices rise. No restaurant is truly needed.
<< <i>I can see technology very quickly replacing many of the fast food workers.....this may allow for a wage increase for the remainder.... but less jobs mean more unemployment... Cheers, RickO >>
Folks will also stop eating out as much as prices rise. No restaurant is truly needed. >>
But so many people don't know how to fend for themselves, including how to shop for a healthy meal.
<< <i>But so many people don't know how to fend for themselves, including how to shop for a healthy meal. >>
The healthy meal went out when genetically engineered farming took hold in the 90's.
It is not hard though to go to the grocery store and buy a dozen eggs or a pound of pasta or a loaf of bread and some salami. I think that most Americans can figure that out.
<< <i>....Even with all the Govt restraining labor supply and QE they still cant create inflation. >>
Sure they can, but it currently only goes to specific segments of the economy....stocks being one of them. Others include big ticket retail items, six and 7 figure rare art/coins/diamonds, etc. TBTF banks have no problem with this.
Considering that fast food is one of the major reasons for declining health and the increase of numerous diseases over the past 30 years....maybe raising min wage is a good thing as less people will go to fast food? Then again, Big Pharma needs Big Fast Food to ensure they have Whopper Maintenance Demand (WMD) for their drugs. Big Pharma is probably opposing the $15 min wage.
What a bunch of fools. The cost would be passed to the customers. The entry level employees would be no better off but those entry level employees that have been working to move up the ladder for years to make that $15 an hour are now your new lower class and expands the issue. Seems we have a bunch of low IQ fools to me. JMO
I agree with most comments on this topic - especially:
1) Min Wage positions are entry level. There should be no intent to transform these into careers. 2) Obviously, increases in the salary line (increased wages to employees) will drive higher retail prices.....to ensure corporate profits remain high.....for who....of course, the stockholders.
However, I believe we have lost control of certain items in recent years:
1) The importance of market perception of the company, i.e. by you ultimate customers, and not by the stockholders. 2) The ever widening gap between the highest and lowest paid workers in these companies (especially fast food, retail, etc)
Take a big fast food chain for example. When the "public" perception changes (when all those thousands of fast food workers rally about wages, benefits, etc -an ultimately get ignored) sales will ultimately drop due to lack of traffic and purchases in those stores. In my opinion, this is the first step toward the death of the company - profits will drop faster than the impact that increased wages, benefits, would have had.
In addition, if you look at that $3.10/hr in wage in 1982 dollars, you are probably looking at a multiple of approx 4 in 2013 dollars. Most likely a $12+/hr wage. So, if we pay $12/hr will we have $15 combo meals? I think not. There is still competition in the marketplace for similar products (or even better products) at a lesser amount. This means that the price increase will happen, but only to the "market" - if priced above - you cannot sustain sales levels.
Another good example. One hobby retailer out there right now with a big national chain pays upwards of $13/hr to its employees. Yup, cashiers and all. They compete quite well in their segment, with those who cant quite pay more than min wage. Service is better in the chain that pays the higher wage. They attract the best people for employees.
We need companies to keep an eye on executive comp. The deviation in the highest to lowest paid employees should not be 1000x or more in these companies. Let's reverse this trend. How about a multiple of 100x - seems quite fair. Please dont tell me you cant find qualified talent at those levels.
I'll try to give an apolitical perspective on this one...
In 35 states you can "make" more money by literally doing nothing and getting a welfare check, rather than put in a 40 hour work week at minimum wage. (Source)
The knee jerk reaction will be that welfare is too generous - maybe so, but the risks of reducing welfare include potentially higher crime and incarceration rates (jails don't operate for free) and other undesirable social and economic fallout. The alternative, raising the minimum wage, would provide major incentive to get out and work instead of sit at home and suck on the government milk machine.
Realize that at $7.25, you're asking people to live on just over $1000 a month. Rent, food, utilities, transportation, insurance, healthcare, medication on $1000 a month? Not possible. And the present economic deficit for those individuals will come from the taxpayers when they go to the emergency room, get food stamps, utilize medicare, etc.
The bottom line is that taxpayers can subsidize these low wages through welfare programs, or consumers can pay more at the register to give a living wage to the lowest earners. Either way, it's coming out of your pocket. It seems to me that better option would be to give these lowest earners more incentive to work, as well as providing them with some dignity and security by increasing the minimum wage.
Of course, I'm swimming against the prevailing theme on this thread, but that's just how I see it. I'll be glad to hear why I have it so wrong, and then instantly regret participating in this thread.
<< <i>I'll try to give an apolitical perspective on this one...
In 35 states you can "make" more money by literally doing nothing and getting a welfare check, rather than put in a 40 hour work week at minimum wage. (Source)
The knee jerk reaction will be that welfare is too generous - maybe so, but the risks of reducing welfare include potentially higher crime and incarceration rates (jails don't operate for free) and other undesirable social and economic fallout. The alternative, raising the minimum wage, would provide major incentive to get out and work instead of sit at home and suck on the government milk machine.
Realize that at $7.25, you're asking people to live on just over $1000 a month. Rent, food, utilities, transportation, insurance, healthcare, medication on $1000 a month? Not possible. And the present economic deficit for those individuals will come from the taxpayers when they go to the emergency room, get food stamps, utilize medicare, etc.
The bottom line is that taxpayers can subsidize these low wages through welfare programs, or consumers can pay more at the register to give a living wage to the lowest earners. Either way, it's coming out of your pocket. It seems to me that better option would be to give these lowest earners more incentive to work, as well as providing them with some dignity and security by increasing the minimum wage.
Of course, I'm swimming against the prevailing theme on this thread, but that's just how I see it. I'll be glad to hear why I have it so wrong, and then instantly regret participating in this thread. >>
Good arguement. However, the serious problem with raising minum wage is its eventual domino affect. Prices go up to pay the minimum wage, other wages go up to keep up with prices, entitlements such as food stamps go up due to inflation and then we are back to raising minimum wage once more. Unfortunately there is income inequality in a capitalistic system. The best incentives for better pay would be to better prepare oneself to enter the workforce. In many cases it is the actual employee's lack of preparation (finishing school, lack of responsibility, etc.) that prevents them from holding anything but a minimum wage job. Truth is all workers are not equal. Minimum wage is a good START for someone entering the workforce but it is not a good place to spend a career. Unfortunately there is currently so much competition for these jobs that the employer is in the driver's seat. If there were a shortage of such workers I believe wages would become competitive to attract good workers. This is how a free market is supposed to operate. Keep in mind that minimum wage is a requirement designed to protect workers from negative market forces in the area of wages. Today's employment market conditions could easily dictate much less pay for minimum wage jobs.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Realize that at $7.25, you're asking people to live on just over $1000 a month. Rent, food, utilities, transportation, insurance, healthcare, medication on $1000 a month? Not possible. >>
Disagree. In Arizona a decent apartment can be had for $500 a month, split by 2 people, $275 each including basic utilities. Food, good, quality food made from scratch, $100 a week or $430 a month. Transportation, in a decent climate, ride a bike. Crappy climate, take a bus, a monthly pass here is about $50. We are at $755 a month for the basics.
If you eat good food and ride a bike to work, your health will be much better and medical costs can be minimized. Better than living off the labor of another individual.
For me and many others of my generation, stacking lumber, stringing barbed wire and bucking bales were the "entry level jobs" that none of us particularly wanted; but, we settled for because cars, food, beer and rent required us to compromise.
I could not imagine still doing those things; yet, many people are trapped in the new crap jobs. Having kids, a mortgage, and a McDonald's job would also require an anti-depressant or self-medication (more beer) for me to tolerate. The hopelessness would be overwhelming.
Yet, minimum wage does not exclusively apply to just Mickey D's, does it? How many on this forum make close to that wage? How many of your kids do? How many of your wives do? How many of your employees do?
Hopelessness of doing honest work in a relatively safe climate controlled environment. Sorry I disagree. Any business rewards hard honest work. Advance from a flipper to a store manager to a district manager to perhaps a franchise owner.
I am no fan of the fast food stores, but good god, they are not dead ends of hopelessness to those that strive for a better life.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
No. Rent is simply too high. The problem is not enough houses. Increase the number of houses and problem solved. Increase wages and you still have the problem.
<< <i>No. Rent is simply too high. The problem is not enough houses. Increase the number of houses and problem solved. Increase wages and you still have the problem. >>
Your logic dictates that American fast food workers don't have an income problem that can't be solved by increasing the supply of everything they buy with their low wages. In a properly working market consumers dictate need of supply while producers do not dictate supply of consumers. Of course once government enters the equation the supply of consumers can be easily dictated.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>No. Rent is simply too high. The problem is not enough houses. Increase the number of houses and problem solved. Increase wages and you still have the problem. >>
Your logic dictates that American fast food workers don't have an income problem that can't be solved by increasing the supply of everything they buy with their low wages. In a properly working market consumers dictate need of supply while producers do not dictate supply of consumers. Of course once government enters the equation the supply of consumers can be easily dictated. >>
No, thats not what I said. We were talking about onerous rent costs in London.
In the USA, costs may be high, but not onerous. The fast food industry is not designed to provide a living wage. It is designed to supplement income for some and provide a window into employment for others. Most Americans make terrible spending decisions. Do they really need a $500 cell phone and $200/month plan. Do they need cable TV? Chrome wheels? Imagine how much extra money people would have if they had only the choices of the 1960s?
And no, the G cannot dictate the supply of consumers, for everyone is a possible consumer. They can ATTEMPT to dictate pricing, but the market will ALWAYS cure the problem no matter what amount of G intervention. This is proven by history.
<< <i>Most Americans make terrible spending decisions. Do they really need a $500 cell phone and $200/month plan. Do they need cable TV? Chrome wheels? Imagine how much extra money people would have if they had only the choices of the 1960s?
And no, the G cannot dictate the supply of consumers, for everyone is a possible consumer. They can ATTEMPT to dictate pricing, but the market will ALWAYS cure the problem no matter what amount of G intervention. This is proven by history. >>
The G does create consumers by giving them money to spend. Spending taxpayer money for necessities is what allows the entitled to spend their own money on the cell phones and chrome wheels. If such people were responsible with money they wouldn't need taxpayer money. What is proven by history is that when you increase the amount of money you increase prices. The market adapts to the available supply and the available demand of both consumers and amount of available money, expecially when provided by government interference - the defense industry is a good example.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
For two centuries, from 1790 to 1990, Americans could earn a livable, middle-class wage with a high school education or less. Now we have 50 million Americans earning the equivalent of minimum wage (< $10/hr). It goes far beyond McDonalds and Wal-Mart, many manufacturing firms, retailers, and other service jobs now pay < $10/hr. 1/3 of the workers in America earn < $10/hr today and that number is growing.
Many believe education is a key. The problem is the cognitive capacity of most low wage workers does not allow them to do much more than they are doing. Statistically, 50% of America has a double digit IQ and over 100 million would fall below 85. Today's global, tech-based economy has left them behind. It's a structural problem without easy answers. Capitalism is the best devised economic system but it results in a concentration of wealth and little middle class left to support the system. We'll see how this plays out over the coming decades. For now it will be QE and ZIRP as far as the eye can see.
<< <i> once applied for a position as a scuba instructor at a Jamaican resort frequented by supermodels. The job paid almost nothing, yet the waiting list for it was hundreds of candidates long.. >>
<< <i>For two centuries, from 1790 to 1990, Americans could earn a livable, middle-class wage with a high school education or less. >>
That may be true but those Americans worked - hard labor in a craft or trade of one sort or the other. Heck, an auto mechanic or plumber makes more than most college grads with their Liberal Arts degree in underwater basket weaving. That is one of the problems with college is they let everyone in, no matter what your attendance or GPA was in high School and because of the number of kids enrolling, they had to create worthless degrees or allow numerous students to enroll in a program with few real job opportunities when they graduate. The job opportunities available were for the best and brightest, not for the average graduate. That is why there is still a demand for Engineers, Accountants, Computer Science and some medical field graduates (doctors & nurses).
Remember some years ago whe Bush gave $600 bucks to every working American, sure sounded neat on paper, except for the fact, according to my budget that year when my monthly trip to the market went from $200/month to $250/month, my weekly cost of $50/wk at the gas station went to about $62.50/wk and my rent was raised $50.00/month.........what I'm saying is that $600 bucks cost me at least $1800 that year, and thats a low estimate, that was just the major living and working expenses, Is it a coincidence that each basic "GOTTA HAVE" expense went up almost exactly $600 dollars..........I don't think so..........something to think about.
<< <i>Remember some years ago whe Bush gave $600 bucks to every working American, sure sounded neat on paper, except for the fact, according to my budget that year when my monthly trip to the market went from $200/month to $250/month, my weekly cost of $50/wk at the gas station went to about $62.50/wk and my rent was raised $50.00/month.........what I'm saying is that $600 bucks cost me at least $1800 that year, and thats a low estimate, that was just the major living and working expenses, Is it a coincidence that each basic "GOTTA HAVE" expense went up almost exactly $600 dollars..........I don't think so..........something to think about.
Steve >>
The 600 was also a tax pre-bate, counted against your income that year.
<< <i>For two centuries, from 1790 to 1990, Americans could earn a livable, middle-class wage with a high school education or less. Now we have 50 million Americans earning the equivalent of minimum wage (< $10/hr). It goes far beyond McDonalds and Wal-Mart, many manufacturing firms, retailers, and other service jobs now pay < $10/hr. 1/3 of the workers in America earn < $10/hr today and that number is growing.
Many believe education is a key. The problem is the cognitive capacity of most low wage workers does not allow them to do much more than they are doing. Statistically, 50% of America has a double digit IQ and over 100 million would fall below 85. Today's global, tech-based economy has left them behind. It's a structural problem without easy answers. Capitalism is the best devised economic system but it results in a concentration of wealth and little middle class left to support the system. We'll see how this plays out over the coming decades. For now it will be QE and ZIRP as far as the eye can see. >>
Wow. You paint with a mighty broad brush. And rather poorly. ---- The minimum wage is indeed less than $10 per hour. It's more than 25% less at $7.25 per hour. So you are certainly not completely wrong. ---- IMO the 'middle class' is largely a recent phenomenon. Like post WWII (1945 to date). In 1790 there was no such thing. Nor in 1890. --- Capitalism was not 'devised'. Nor is there much evidence that it is the 'best' economic system. I think the Chinese are demonstrating that they feel otherwise. Of course anybody who fell for the advertising media's joyous proclamations of 'The End of Communism' some years ago might differ. ----- IQ is a very questionable standard. Very. And no reasonable measure of anybody's 'cognitive capacity'. EVERYBODY has gifts and talents. Our species need them all, and not to realize and develop those gifts and talents makes us all poorer. --------- Two-thirds of America's current economy is 'service based'. Can we all live decent 'middle class' lives by competing with one another to 'serve' those increasingly few 'haves'? Henry Ford didn't think so and neither do I. ----- Coin collecting was historically a rich person's activity. It's looking to me like it's heading back that way. I only throw this in because this IS a coin forum and I thought somebody might want to make a 'connection' to our alleged common interest. Personally I think coin collecting is dying for the ordinary fellow because we are exterminating the middle class who previously had the luxury of disposable income to put into the hobby.
Many, many perfect transactions with other members. Ask please.
<< <i>For two centuries, from 1790 to 1990, Americans could earn a livable, middle-class wage with a high school education or less. Now we have 50 million Americans earning the equivalent of minimum wage (< $10/hr). It goes far beyond McDonalds and Wal-Mart, many manufacturing firms, retailers, and other service jobs now pay < $10/hr. 1/3 of the workers in America earn < $10/hr today and that number is growing.
Many believe education is a key. The problem is the cognitive capacity of most low wage workers does not allow them to do much more than they are doing. Statistically, 50% of America has a double digit IQ and over 100 million would fall below 85. Today's global, tech-based economy has left them behind. It's a structural problem without easy answers. Capitalism is the best devised economic system but it results in a concentration of wealth and little middle class left to support the system. We'll see how this plays out over the coming decades. For now it will be QE and ZIRP as far as the eye can see. >>
Wow. You paint with a mighty broad brush. And rather poorly. ---- The minimum wage is indeed less than $10 per hour. It's more than 25% less at $7.25 per hour. So you are certainly not completely wrong. ---- IMO the 'middle class' is largely a recent phenomenon. Like post WWII (1945 to date). In 1790 there was no such thing. Nor in 1890. --- Capitalism was not 'devised'. Nor is there much evidence that it is the 'best' economic system. I think the Chinese are demonstrating that they feel otherwise. Of course anybody who fell for the advertising media's joyous proclamations of 'The End of Communism' some years ago might differ. ----- IQ is a very questionable standard. Very. And no reasonable measure of anybody's 'cognitive capacity'. EVERYBODY has gifts and talents. Our species need them all, and not to realize and develop those gifts and talents makes us all poorer. --------- Two-thirds of America's current economy is 'service based'. Can we all live decent 'middle class' lives by competing with one another to 'serve' those increasingly few 'haves'? Henry Ford didn't think so and neither do I. ----- Coin collecting was historically a rich person's activity. It's looking to me like it's heading back that way. I only throw this in because this IS a coin forum and I thought somebody might want to make a 'connection' to our alleged common interest. Personally I think coin collecting is dying for the ordinary fellow because we are exterminating the middle class who previously had the luxury of disposable income to put into the hobby. >>
View it any way you like. Less the $10/hr is the equivalent of minimum wage as far as standard of living goes and 50 million American workers are there or under. The point being is the American "under-class income levels" are rapidly approaching 50% of the country and will surpass it soon while at the same time 30% of our population will be retired and drawing SS within 10 years. Can 20% support 80%? That is the question and this is the PM forum.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I'm not one for eating at any of these places, because, well...I eat real food. I don't agree that they deserve $15 an hour. Minimum wage in this state is already $10/hr, and now these burger 'bots want more? >>
It's not just them...it's Seattle's new socialist city council member. She also showed up at a Boeing Machinist's rally to denounce Boeing and encouraged the Machinist's to "take over" the factories and "use them to build mass transit and not the war machines" that Boeing is currently building.........according to her.
I don't think anyone working should be paid peanuts but I also disagree with what they are doing with the $15 min wage crap. It's not healthy for anyone and it will bite a lot of the ones wanting it right square in the butt as the whole thing cascades.....only the wealthy folks will be able to just shake off the total effect and keep making more money. Everyone else will feel it in the pocketbook.
Had an interesting conversation this evening with an employee that works the graveyard shift at the local Subway. He was mildly griping about being paid only minimum wage for the late shift. I believe he said the rate was $7.80 and hour.
At 40 hours a week that would be right at the Obamacare threshold for Medicaid for a single person. So this young and apparently healthy man would be starting his working life as essentially a welfare recipient as that is what Medicaid is. Even though he most likely does not want or need this benefit, this so called young invincible that the president prizes to support his wretched program, will be contributing not a dime, and more than likely not taking much in the way of services.
I do not blame the young man or his employer for this. I blame the dopey doctors that have held our nation hostage under the guise of what if.....?? Instead of taking all the money from only the sick, these brigands suck every available dollar from our economy, aided by the shylock insurers and the corrupt politicians. And yet we bow obsequiously out of fear that we will fall victim to an ailment that only these hucksters can save us from.
<< <i>Had an interesting conversation this evening with an employee that works the graveyard shift at the local Subway. He was mildly griping about being paid only minimum wage for the late shift. I believe he said the rate was $7.80 and hour.
At 40 hours a week that would be right at the Obamacare threshold for Medicaid for a single person. So this young and apparently healthy man would be starting his working life as essentially a welfare recipient as that is what Medicaid is. Even though he most likely does not want or need this benefit, this so called young invincible that the president prizes to support his wretched program, will be contributing not a dime, and more than likely not taking much in the way of services.
I do not blame the young man or his employer for this. I blame the dopey doctors that have held our nation hostage under the guise of what if.....?? Instead of taking all the money from only the sick, these brigands suck every available dollar from our economy, aided by the shylock insurers and the corrupt politicians. And yet we bow obsequiously out of fear that we will fall victim to an ailment that only these hucksters can save us from. >>
I believe your anger is misdirected at the doctors. Doctors I know despise the Medicaid/Medicare payment system. I don't have a problem with programs that provide basic necessities for those at the lowest income levels as much as I have a problem with economic and taxation policy that puts so many Americans at that low income level. The same people that are giving the necessities created the need for them.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I have not read all five pages of posts, but after reading a couple of pages it occurred to me that Australia has a minimum wage of around $16 dollars is not particularly suffering for that in their economy. I do not know how they got there, but it is what it is.
As to doctor's compensation, for whatever reason our society values their skills much greater than many others. While skill and education is required, many other professions also require similar preparation. It is a value judgement and for one, I think they are overpaid in comparison to many other skilled professions. Just MHO.
Retired United States Mint guy, now working on an Everyman Type Set.
<< <i>I believe your anger is misdirected at the doctors. Doctors I know despise the Medicaid/Medicare payment system. I don't have a problem with programs that provide basic necessities for those at the lowest income levels as much as I have a problem with economic and taxation policy that puts so many Americans at that low income level. The same people that are giving the necessities created the need for them. >>
I probably need to not post rants at 4:00 am.
I stand by my words though, way too many unneeded, painful and expensive procedures done on those that have reached a state of no return. If an auto mechanic did the same on a widows old car, he would be in jail." But maam, the docs say....we did everything". Some times it is best to control pain and not do everything.
I could rattle off a few examples, but these would of course be anecdotal. Anecdotal, but the million dollars shafts to Medicare were certainly real.
<< <i>I believe your anger is misdirected at the doctors. Doctors I know despise the Medicaid/Medicare payment system. I don't have a problem with programs that provide basic necessities for those at the lowest income levels as much as I have a problem with economic and taxation policy that puts so many Americans at that low income level. The same people that are giving the necessities created the need for them. >>
I probably need to not post rants at 4:00 am.
I stand by my words, way too many unneeded, painful and expensive procedures done on those that have reached a state of no return. If an auto mechanic did the same on a widows old car, he would be in jail." But maam, the docs say....we did everything". Some times it is best to control pain and not do everything.
I could rattle off a few examples, but these would of course be anecdotal. Anecdotal, but the million dollars shafts to Medicare were certainly real.
OK....I will shut up now. >>
blame that on the lawyers who go after doctors who did not do everything under the sun. Once auto mechanics constantly face malpractice threats expect to pay for parts you didn't need.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Next up the new Federal autocare plan , due to start in 2020 . 3.5% out of your check employer matches an equal amount . If your car gets sick you file a claim for treatment at an authorized provider.
90 day waiting list for anything harder than an oil change and strict penalties if you attempt to work on your own car. It's not full coverage of course there will be a deductible and co-insurance.
<< <i>I believe your anger is misdirected at the doctors. Doctors I know despise the Medicaid/Medicare payment system. I don't have a problem with programs that provide basic necessities for those at the lowest income levels as much as I have a problem with economic and taxation policy that puts so many Americans at that low income level. The same people that are giving the necessities created the need for them. >>
I probably need to not post rants at 4:00 am.
I stand by my words, way too many unneeded, painful and expensive procedures done on those that have reached a state of no return. If an auto mechanic did the same on a widows old car, he would be in jail." But maam, the docs say....we did everything". Some times it is best to control pain and not do everything.
I could rattle off a few examples, but these would of course be anecdotal. Anecdotal, but the million dollars shafts to Medicare were certainly real.
OK....I will shut up now. >>
blame that on the lawyers who go after doctors who did not do everything under the sun. Once auto mechanics constantly face malpractice threats expect to pay for parts you didn't need. >>
Blame the unions and big corporations for allowing the insurance companies to raise rates. If everyone told the insurance companies to pound sans then there would be no increases in premiums. It us our willingness to accept higher prices that allows for higher prices.
<< <i>Blame the unions and big corporations for allowing the insurance companies to raise rates. If everyone told the insurance companies to pound sans then there would be no increases in premiums. It us our willingness to accept higher prices that allows for higher prices. >>
Plenty of blame to go around and good discussion folks.
Ultimate blame lies with the consumers who guzzle soft drinks by the gallon, eats chips by the bag and waddles into the doctors office for help. No doctor can make a 400 pound person healthy. Doctor is more than happy to comply as her house gets bigger and Porsche gets faster. And of course the care is almost free as the other slob will gladly pay. Problem is, we are the other slob and we are broke.
Getting away from Precious metals (which are a bit less precious today), so I will move on.
I went to meet with an obamacare "navigator" yesterday to see if I could find out what I have to do in order to comply. It seems that I was the only one she's met with who wouldn't be qualifying for a subsidy. She was thrilled that I would be contributing my hard-earned (and much-needed) money into the system so that it would work.
I'm paying the fine next year. The alternative is to be fined and not pay it, which also has some merit.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>I went to meet with an obamacare "navigator" yesterday to see if I could find out what I have to do in order to comply. It seems that I was the only one she's met with who wouldn't be qualifying for a subsidy. She was thrilled that I would be contributing my hard-earned (and much-needed) money into the system so that it would work.
I'm paying the fine next year. The alternative is to be fined and not pay it, which also has some merit. >>
My gut feeling says nobody will be fined for next year.
<< <i>Next up the new Federal autocare plan , due to start in 2020 . 3.5% out of your check employer matches an equal amount . If your car gets sick you file a claim for treatment at an authorized provider.
90 day waiting list for anything harder than an oil change and strict penalties if you attempt to work on your own car. It's not full coverage of course there will be a deductible and co-insurance.
Everyone has to pay in, even those without a car. >>
<< <i>I went to meet with an obamacare "navigator" yesterday to see if I could find out what I have to do in order to comply. It seems that I was the only one she's met with who wouldn't be qualifying for a subsidy. She was thrilled that I would be contributing my hard-earned (and much-needed) money into the system so that it would work.
I'm paying the fine next year. The alternative is to be fined and not pay it, which also has some merit. >>
I read somewhere that the fine is only collected if you owe taxes at the end of the year. Worth looking into.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I read somewhere that the fine is only collected if you owe taxes at the end of the year. Worth looking into.
I was researching the possibility of not paying the fine, because I had read and heard some opinions that made that seem attractive at the time. However, I did find a research paper that was commissioned by Tom Coburn's office that indicates nonpayment of the fine is problematic.
I don't think I can push it quite that far.
Q: Are You Printing Money? Bernanke: Not Literally
Tell the IRS you have health insurance - you are self insured.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>I read somewhere that the fine is only collected if you owe taxes at the end of the year. Worth looking into.
I was researching the possibility of not paying the fine, because I had read and heard some opinions that made that seem attractive at the time. However, I did find a research paper that was commissioned by Tom Coburn's office that indicates nonpayment of the fine is problematic.
I don't think I can push it quite that far. >>
The truly insidious part of this law is that those that logically pay the fine will be considered lawbreakers in the eyes of our government. Perhaps on par with speeding in ones car, but a lawbreaker none the less. 50,000,000 Americans will be in violation of the ACA on January first. Quite a reprehensible precedent.
"If inflation creates jobs, where are the jobs right now in Venezuela? Where were they in Zimbabwe? Argentina?"
"To compensate for the fact that wages have not kept up with inflation, socialists and monetarists want higher minimum wages. They also want inflation targets and they expect businesses to pay more in wages than prices go up! How do businesses respond? They outsource or replace humans with software and hardware robots that do not complain about minimum wages."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"If inflation creates jobs, where are the jobs right now in Venezuela? Where were they in Zimbabwe? Argentina?"
"To compensate for the fact that wages have not kept up with inflation, socialists and monetarists want higher minimum wages. They also want inflation targets and they expect businesses to pay more in wages than prices go up! How do businesses respond? They outsource or replace humans with software and hardware robots that do not complain about minimum wages." >>
Yup. The only jobs that cannot yet be outsourced are local retail. I suppose we will soon have 3D printers that can create a Pizza and the rest of the workforce will be screwed.
Comments
<< <i>I can see technology very quickly replacing many of the fast food workers.....this may allow for a wage increase for the remainder.... but less jobs mean more unemployment... Cheers, RickO >>
Folks will also stop eating out as much as prices rise. No restaurant is truly needed.
<< <i>
<< <i>I can see technology very quickly replacing many of the fast food workers.....this may allow for a wage increase for the remainder.... but less jobs mean more unemployment... Cheers, RickO >>
Folks will also stop eating out as much as prices rise. No restaurant is truly needed. >>
But so many people don't know how to fend for themselves, including how to shop for a healthy meal.
<< <i>But so many people don't know how to fend for themselves, including how to shop for a healthy meal. >>
The healthy meal went out when genetically engineered farming took hold in the 90's.
It is not hard though to go to the grocery store and buy a dozen eggs or a pound of pasta or a loaf of bread and some salami. I think that most Americans can figure that out.
<< <i>....Even with all the Govt restraining labor supply and QE they still cant create inflation. >>
Sure they can, but it currently only goes to specific segments of the economy....stocks being one of them. Others include big ticket retail items, six and 7 figure rare art/coins/diamonds, etc. TBTF banks have no problem with this.
Considering that fast food is one of the major reasons for declining health and the increase of numerous diseases over the past 30 years....maybe raising min wage is a good thing as less people will go to fast food?
Then again, Big Pharma needs Big Fast Food to ensure they have Whopper Maintenance Demand (WMD) for their drugs. Big Pharma is probably opposing the $15 min wage.
1) Min Wage positions are entry level. There should be no intent to transform these into careers.
2) Obviously, increases in the salary line (increased wages to employees) will drive higher retail prices.....to ensure corporate profits remain high.....for who....of course, the stockholders.
However, I believe we have lost control of certain items in recent years:
1) The importance of market perception of the company, i.e. by you ultimate customers, and not by the stockholders.
2) The ever widening gap between the highest and lowest paid workers in these companies (especially fast food, retail, etc)
Take a big fast food chain for example. When the "public" perception changes (when all those thousands of fast food workers rally about wages, benefits, etc -an ultimately get ignored) sales will ultimately drop due to lack of traffic and purchases in those stores. In my opinion, this is the first step toward the death of the company - profits will drop faster than the impact that increased wages, benefits, would have had.
In addition, if you look at that $3.10/hr in wage in 1982 dollars, you are probably looking at a multiple of approx 4 in 2013 dollars. Most likely a $12+/hr wage. So, if we pay $12/hr will we have $15 combo meals? I think not. There is still competition in the marketplace for similar products (or even better products) at a lesser amount. This means that the price increase will happen, but only to the "market" - if priced above - you cannot sustain sales levels.
Another good example. One hobby retailer out there right now with a big national chain pays upwards of $13/hr to its employees. Yup, cashiers and all. They compete quite well in their segment, with those who cant quite pay more than min wage. Service is better in the chain that pays the higher wage. They attract the best people for employees.
We need companies to keep an eye on executive comp. The deviation in the highest to lowest paid employees should not be 1000x or more in these companies. Let's reverse this trend. How about a multiple of 100x - seems quite fair. Please dont tell me you cant find qualified talent at those levels.
In 35 states you can "make" more money by literally doing nothing and getting a welfare check, rather than put in a 40 hour work week at minimum wage. (Source)
The knee jerk reaction will be that welfare is too generous - maybe so, but the risks of reducing welfare include potentially higher crime and incarceration rates (jails don't operate for free) and other undesirable social and economic fallout. The alternative, raising the minimum wage, would provide major incentive to get out and work instead of sit at home and suck on the government milk machine.
Realize that at $7.25, you're asking people to live on just over $1000 a month. Rent, food, utilities, transportation, insurance, healthcare, medication on $1000 a month? Not possible. And the present economic deficit for those individuals will come from the taxpayers when they go to the emergency room, get food stamps, utilize medicare, etc.
The bottom line is that taxpayers can subsidize these low wages through welfare programs, or consumers can pay more at the register to give a living wage to the lowest earners. Either way, it's coming out of your pocket. It seems to me that better option would be to give these lowest earners more incentive to work, as well as providing them with some dignity and security by increasing the minimum wage.
Of course, I'm swimming against the prevailing theme on this thread, but that's just how I see it. I'll be glad to hear why I have it so wrong, and then instantly regret participating in this thread.
<< <i>I'll try to give an apolitical perspective on this one...
In 35 states you can "make" more money by literally doing nothing and getting a welfare check, rather than put in a 40 hour work week at minimum wage. (Source)
The knee jerk reaction will be that welfare is too generous - maybe so, but the risks of reducing welfare include potentially higher crime and incarceration rates (jails don't operate for free) and other undesirable social and economic fallout. The alternative, raising the minimum wage, would provide major incentive to get out and work instead of sit at home and suck on the government milk machine.
Realize that at $7.25, you're asking people to live on just over $1000 a month. Rent, food, utilities, transportation, insurance, healthcare, medication on $1000 a month? Not possible. And the present economic deficit for those individuals will come from the taxpayers when they go to the emergency room, get food stamps, utilize medicare, etc.
The bottom line is that taxpayers can subsidize these low wages through welfare programs, or consumers can pay more at the register to give a living wage to the lowest earners. Either way, it's coming out of your pocket. It seems to me that better option would be to give these lowest earners more incentive to work, as well as providing them with some dignity and security by increasing the minimum wage.
Of course, I'm swimming against the prevailing theme on this thread, but that's just how I see it. I'll be glad to hear why I have it so wrong, and then instantly regret participating in this thread.
Good arguement. However, the serious problem with raising minum wage is its eventual domino affect. Prices go up to pay the minimum wage, other wages go up to keep up with prices, entitlements such as food stamps go up due to inflation and then we are back to raising minimum wage once more. Unfortunately there is income inequality in a capitalistic system. The best incentives for better pay would be to better prepare oneself to enter the workforce. In many cases it is the actual employee's lack of preparation (finishing school, lack of responsibility, etc.) that prevents them from holding anything but a minimum wage job. Truth is all workers are not equal. Minimum wage is a good START for someone entering the workforce but it is not a good place to spend a career. Unfortunately there is currently so much competition for these jobs that the employer is in the driver's seat. If there were a shortage of such workers I believe wages would become competitive to attract good workers. This is how a free market is supposed to operate. Keep in mind that minimum wage is a requirement designed to protect workers from negative market forces in the area of wages. Today's employment market conditions could easily dictate much less pay for minimum wage jobs.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Realize that at $7.25, you're asking people to live on just over $1000 a month. Rent, food, utilities, transportation, insurance, healthcare, medication on $1000 a month? Not possible. >>
Disagree. In Arizona a decent apartment can be had for $500 a month, split by 2 people, $275 each including basic utilities. Food, good, quality food made from scratch, $100 a week or $430 a month. Transportation, in a decent climate, ride a bike. Crappy climate, take a bus, a monthly pass here is about $50. We are at $755 a month for the basics.
If you eat good food and ride a bike to work, your health will be much better and medical costs can be minimized. Better than living off the labor of another individual.
I could not imagine still doing those things; yet, many people are trapped in the new crap jobs. Having kids, a mortgage, and a McDonald's job would also require an anti-depressant or self-medication (more beer) for me to tolerate. The hopelessness would be overwhelming.
Yet, minimum wage does not exclusively apply to just Mickey D's, does it? How many on this forum make close to that wage?
How many of your kids do? How many of your wives do? How many of your employees do?
<< <i>The hopelessness would be overwhelming. >>
Hopelessness of doing honest work in a relatively safe climate controlled environment. Sorry I disagree. Any business rewards hard honest work. Advance from a flipper to a store manager to a district manager to perhaps a franchise owner.
I am no fan of the fast food stores, but good god, they are not dead ends of hopelessness to those that strive for a better life.
Without relentless and deliberately induced inflation maybe even minimum wage earners could actually save money.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Knowledge is the enemy of fear
<< <i>Britain doesn't have a minimum wage problem, it gas a housing supply problem. Again, the best cure for high prices is high prices. >>
The best cure for high prices is a market free of government interference. Britain does have a minimum wage problem:
Rent 'unaffordable' for low-income families in third of UK
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Knowledge is the enemy of fear
<< <i>No. Rent is simply too high. The problem is not enough houses. Increase the number of houses and problem solved. Increase wages and you still have the problem. >>
Your logic dictates that American fast food workers don't have an income problem that can't be solved by increasing the supply of everything they buy with their low wages. In a properly working market consumers dictate need of supply while producers do not dictate supply of consumers. Of course once government enters the equation the supply of consumers can be easily dictated.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
London is the biggest cesspool of 1%'ers in the world, the rent isn't going to come down because that crew doesn't feel any wage pressure.
prices are still going up
The street sweepers and shoeshine boys will have to commute from farther out or live in a crate.
the russians are buying in london
asia is buying in london
plenty of all cash sales
<< <i>
<< <i>No. Rent is simply too high. The problem is not enough houses. Increase the number of houses and problem solved. Increase wages and you still have the problem. >>
Your logic dictates that American fast food workers don't have an income problem that can't be solved by increasing the supply of everything they buy with their low wages. In a properly working market consumers dictate need of supply while producers do not dictate supply of consumers. Of course once government enters the equation the supply of consumers can be easily dictated. >>
No, thats not what I said. We were talking about onerous rent costs in London.
In the USA, costs may be high, but not onerous. The fast food industry is not designed to provide a living wage. It is designed to supplement income for some and provide a window into employment for others. Most Americans make terrible spending decisions. Do they really need a $500 cell phone and $200/month plan. Do they need cable TV? Chrome wheels? Imagine how much extra money people would have if they had only the choices of the 1960s?
And no, the G cannot dictate the supply of consumers, for everyone is a possible consumer. They can ATTEMPT to dictate pricing, but the market will ALWAYS cure the problem no matter what amount of G intervention. This is proven by history.
Knowledge is the enemy of fear
<< <i>Most Americans make terrible spending decisions. Do they really need a $500 cell phone and $200/month plan. Do they need cable TV? Chrome wheels? Imagine how much extra money people would have if they had only the choices of the 1960s?
And no, the G cannot dictate the supply of consumers, for everyone is a possible consumer. They can ATTEMPT to dictate pricing, but the market will ALWAYS cure the problem no matter what amount of G intervention. This is proven by history. >>
The G does create consumers by giving them money to spend. Spending taxpayer money for necessities is what allows the entitled to spend their own money on the cell phones and chrome wheels. If such people were responsible with money they wouldn't need taxpayer money. What is proven by history is that when you increase the amount of money you increase prices. The market adapts to the available supply and the available demand of both consumers and amount of available money, expecially when provided by government interference - the defense industry is a good example.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>No, thats not what I said. We were talking about onerous rent costs in London. >>
Priced a place in Manhattan or San Francisco? England is a big place, nobody has to live in London.
Many believe education is a key. The problem is the cognitive capacity of most low wage workers does not allow them to do much more than they are doing. Statistically, 50% of America has a double digit IQ and over 100 million would fall below 85. Today's global, tech-based economy has left them behind. It's a structural problem without easy answers. Capitalism is the best devised economic system but it results in a concentration of wealth and little middle class left to support the system. We'll see how this plays out over the coming decades. For now it will be QE and ZIRP as far as the eye can see.
<< <i> once applied for a position as a scuba instructor at a Jamaican resort frequented by supermodels. The job paid almost nothing, yet the waiting list for it was hundreds of candidates long.. >>
<< <i>For two centuries, from 1790 to 1990, Americans could earn a livable, middle-class wage with a high school education or less. >>
That may be true but those Americans worked - hard labor in a craft or trade of one sort or the other. Heck, an auto mechanic or plumber makes more than most college grads with their Liberal Arts degree in underwater basket weaving. That is one of the problems with college is they let everyone in, no matter what your attendance or GPA was in high School and because of the number of kids enrolling, they had to create worthless degrees or allow numerous students to enroll in a program with few real job opportunities when they graduate. The job opportunities available were for the best and brightest, not for the average graduate. That is why there is still a demand for Engineers, Accountants, Computer Science and some medical field graduates (doctors & nurses).
sure sounded neat on paper, except for the fact, according to my budget that year
when my monthly trip to the market went from $200/month to $250/month, my weekly
cost of $50/wk at the gas station went to about $62.50/wk and my rent was raised
$50.00/month.........what I'm saying is that $600 bucks cost me at least $1800 that
year, and thats a low estimate, that was just the major living and working expenses,
Is it a coincidence that each basic "GOTTA HAVE" expense went up almost exactly
$600 dollars..........I don't think so..........something to think about.
Steve
<< <i>Remember some years ago whe Bush gave $600 bucks to every working American,
sure sounded neat on paper, except for the fact, according to my budget that year
when my monthly trip to the market went from $200/month to $250/month, my weekly
cost of $50/wk at the gas station went to about $62.50/wk and my rent was raised
$50.00/month.........what I'm saying is that $600 bucks cost me at least $1800 that
year, and thats a low estimate, that was just the major living and working expenses,
Is it a coincidence that each basic "GOTTA HAVE" expense went up almost exactly
$600 dollars..........I don't think so..........something to think about.
Steve >>
The 600 was also a tax pre-bate, counted against your income that year.
I think I said the same about a page ago.
Knowledge is the enemy of fear
<< <i>For two centuries, from 1790 to 1990, Americans could earn a livable, middle-class wage with a high school education or less. Now we have 50 million Americans earning the equivalent of minimum wage (< $10/hr). It goes far beyond McDonalds and Wal-Mart, many manufacturing firms, retailers, and other service jobs now pay < $10/hr. 1/3 of the workers in America earn < $10/hr today and that number is growing.
Many believe education is a key. The problem is the cognitive capacity of most low wage workers does not allow them to do much more than they are doing. Statistically, 50% of America has a double digit IQ and over 100 million would fall below 85. Today's global, tech-based economy has left them behind. It's a structural problem without easy answers. Capitalism is the best devised economic system but it results in a concentration of wealth and little middle class left to support the system. We'll see how this plays out over the coming decades. For now it will be QE and ZIRP as far as the eye can see. >>
Wow. You paint with a mighty broad brush. And rather poorly.
----
The minimum wage is indeed less than $10 per hour. It's more than 25% less at $7.25 per hour. So you are certainly not completely wrong.
----
IMO the 'middle class' is largely a recent phenomenon. Like post WWII (1945 to date).
In 1790 there was no such thing. Nor in 1890.
---
Capitalism was not 'devised'. Nor is there much evidence that it is the 'best' economic system. I think the Chinese are demonstrating that they feel otherwise. Of course anybody who fell for the advertising media's joyous proclamations of 'The End of Communism' some years ago might differ.
-----
IQ is a very questionable standard. Very. And no reasonable measure of anybody's 'cognitive capacity'. EVERYBODY has gifts and talents. Our species need them all, and not to realize and develop those gifts and talents makes us all poorer.
---------
Two-thirds of America's current economy is 'service based'. Can we all live decent 'middle class' lives by competing with one another to 'serve' those increasingly few 'haves'? Henry Ford didn't think so and neither do I.
-----
Coin collecting was historically a rich person's activity. It's looking to me like it's heading back that way. I only throw this in because this IS a coin forum and I thought somebody might want to make a 'connection' to our alleged common interest. Personally I think coin collecting is dying for the ordinary fellow because we are exterminating the middle class who previously had the luxury of disposable income to put into the hobby.
<< <i>
<< <i>For two centuries, from 1790 to 1990, Americans could earn a livable, middle-class wage with a high school education or less. Now we have 50 million Americans earning the equivalent of minimum wage (< $10/hr). It goes far beyond McDonalds and Wal-Mart, many manufacturing firms, retailers, and other service jobs now pay < $10/hr. 1/3 of the workers in America earn < $10/hr today and that number is growing.
Many believe education is a key. The problem is the cognitive capacity of most low wage workers does not allow them to do much more than they are doing. Statistically, 50% of America has a double digit IQ and over 100 million would fall below 85. Today's global, tech-based economy has left them behind. It's a structural problem without easy answers. Capitalism is the best devised economic system but it results in a concentration of wealth and little middle class left to support the system. We'll see how this plays out over the coming decades. For now it will be QE and ZIRP as far as the eye can see. >>
Wow. You paint with a mighty broad brush. And rather poorly.
----
The minimum wage is indeed less than $10 per hour. It's more than 25% less at $7.25 per hour. So you are certainly not completely wrong.
----
IMO the 'middle class' is largely a recent phenomenon. Like post WWII (1945 to date).
In 1790 there was no such thing. Nor in 1890.
---
Capitalism was not 'devised'. Nor is there much evidence that it is the 'best' economic system. I think the Chinese are demonstrating that they feel otherwise. Of course anybody who fell for the advertising media's joyous proclamations of 'The End of Communism' some years ago might differ.
-----
IQ is a very questionable standard. Very. And no reasonable measure of anybody's 'cognitive capacity'. EVERYBODY has gifts and talents. Our species need them all, and not to realize and develop those gifts and talents makes us all poorer.
---------
Two-thirds of America's current economy is 'service based'. Can we all live decent 'middle class' lives by competing with one another to 'serve' those increasingly few 'haves'? Henry Ford didn't think so and neither do I.
-----
Coin collecting was historically a rich person's activity. It's looking to me like it's heading back that way. I only throw this in because this IS a coin forum and I thought somebody might want to make a 'connection' to our alleged common interest. Personally I think coin collecting is dying for the ordinary fellow because we are exterminating the middle class who previously had the luxury of disposable income to put into the hobby. >>
View it any way you like. Less the $10/hr is the equivalent of minimum wage as far as standard of living goes and 50 million American workers are there or under. The point being is the American "under-class income levels" are rapidly approaching 50% of the country and will surpass it soon while at the same time 30% of our population will be retired and drawing SS within 10 years. Can 20% support 80%? That is the question and this is the PM forum.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Not sure if it was mentioned in the thread, but not too far from me, $15 minimum wage is here.
SeaTac feels special
I'm not one for eating at any of these places, because, well...I eat real food. I don't agree that they deserve $15 an hour. Minimum wage in this state is already $10/hr, and now these burger 'bots want more? >>
It's not just them...it's Seattle's new socialist city council member. She also showed up at a Boeing Machinist's rally to denounce Boeing and encouraged the Machinist's to "take over" the factories and "use them to build mass transit and not the war machines" that Boeing is currently building.........according to her.
I don't think anyone working should be paid peanuts but I also disagree with what they are doing with the $15 min wage crap. It's not healthy for anyone and it will bite a lot of the ones wanting it right square in the butt as the whole thing cascades.....only the wealthy folks will be able to just shake off the total effect and keep making more money. Everyone else will feel it in the pocketbook.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
At 40 hours a week that would be right at the Obamacare threshold for Medicaid for a single person. So this young and apparently healthy man would be starting his working life as essentially a welfare recipient as that is what Medicaid is. Even though he most likely does not want or need this benefit, this so called young invincible that the president prizes to support his wretched program, will be contributing not a dime, and more than likely not taking much in the way of services.
I do not blame the young man or his employer for this. I blame the dopey doctors that have held our nation hostage under the guise of what if.....?? Instead of taking all the money from only the sick, these brigands suck every available dollar from our economy, aided by the shylock insurers and the corrupt politicians. And yet we bow obsequiously out of fear that we will fall victim to an ailment that only these hucksters can save us from.
<< <i>Had an interesting conversation this evening with an employee that works the graveyard shift at the local Subway. He was mildly griping about being paid only minimum wage for the late shift. I believe he said the rate was $7.80 and hour.
At 40 hours a week that would be right at the Obamacare threshold for Medicaid for a single person. So this young and apparently healthy man would be starting his working life as essentially a welfare recipient as that is what Medicaid is. Even though he most likely does not want or need this benefit, this so called young invincible that the president prizes to support his wretched program, will be contributing not a dime, and more than likely not taking much in the way of services.
I do not blame the young man or his employer for this. I blame the dopey doctors that have held our nation hostage under the guise of what if.....?? Instead of taking all the money from only the sick, these brigands suck every available dollar from our economy, aided by the shylock insurers and the corrupt politicians. And yet we bow obsequiously out of fear that we will fall victim to an ailment that only these hucksters can save us from. >>
I believe your anger is misdirected at the doctors. Doctors I know despise the Medicaid/Medicare payment system. I don't have a problem with programs that provide basic necessities for those at the lowest income levels as much as I have a problem with economic and taxation policy that puts so many Americans at that low income level. The same people that are giving the necessities created the need for them.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
As to doctor's compensation, for whatever reason our society values their skills much greater than many others. While skill and education is required, many other professions also require similar preparation. It is a value judgement and for one, I think they are overpaid in comparison to many other skilled professions. Just MHO.
<< <i>I believe your anger is misdirected at the doctors. Doctors I know despise the Medicaid/Medicare payment system. I don't have a problem with programs that provide basic necessities for those at the lowest income levels as much as I have a problem with economic and taxation policy that puts so many Americans at that low income level. The same people that are giving the necessities created the need for them. >>
I probably need to not post rants at 4:00 am.
I stand by my words though, way too many unneeded, painful and expensive procedures done on those that have reached a state of no return. If an auto mechanic did the same on a widows old car, he would be in jail." But maam, the docs say....we did everything". Some times it is best to control pain and not do everything.
I could rattle off a few examples, but these would of course be anecdotal. Anecdotal, but the million dollars shafts to Medicare were certainly real.
OK....I will shut up now.
<< <i>
<< <i>I believe your anger is misdirected at the doctors. Doctors I know despise the Medicaid/Medicare payment system. I don't have a problem with programs that provide basic necessities for those at the lowest income levels as much as I have a problem with economic and taxation policy that puts so many Americans at that low income level. The same people that are giving the necessities created the need for them. >>
I probably need to not post rants at 4:00 am.
I stand by my words, way too many unneeded, painful and expensive procedures done on those that have reached a state of no return. If an auto mechanic did the same on a widows old car, he would be in jail." But maam, the docs say....we did everything". Some times it is best to control pain and not do everything.
I could rattle off a few examples, but these would of course be anecdotal. Anecdotal, but the million dollars shafts to Medicare were certainly real.
OK....I will shut up now. >>
blame that on the lawyers who go after doctors who did not do everything under the sun. Once auto mechanics constantly face malpractice threats expect to pay for parts you didn't need.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Next up the new Federal autocare plan , due to start in 2020 . 3.5% out of your check employer matches an equal amount . If your car gets sick you file a claim for treatment at an authorized provider.
90 day waiting list for anything harder than an oil change and strict penalties if you attempt to work on your own car. It's not full coverage of course there will be a deductible and co-insurance.
Everyone has to pay in, even those without a car.
<< <i>
<< <i>
<< <i>I believe your anger is misdirected at the doctors. Doctors I know despise the Medicaid/Medicare payment system. I don't have a problem with programs that provide basic necessities for those at the lowest income levels as much as I have a problem with economic and taxation policy that puts so many Americans at that low income level. The same people that are giving the necessities created the need for them. >>
I probably need to not post rants at 4:00 am.
I stand by my words, way too many unneeded, painful and expensive procedures done on those that have reached a state of no return. If an auto mechanic did the same on a widows old car, he would be in jail." But maam, the docs say....we did everything". Some times it is best to control pain and not do everything.
I could rattle off a few examples, but these would of course be anecdotal. Anecdotal, but the million dollars shafts to Medicare were certainly real.
OK....I will shut up now. >>
blame that on the lawyers who go after doctors who did not do everything under the sun. Once auto mechanics constantly face malpractice threats expect to pay for parts you didn't need. >>
Blame the unions and big corporations for allowing the insurance companies to raise rates. If everyone told the insurance companies to pound sans then there would be no increases in premiums. It us our willingness to accept higher prices that allows for higher prices.
Knowledge is the enemy of fear
<< <i>Blame the unions and big corporations for allowing the insurance companies to raise rates. If everyone told the insurance companies to pound sans then there would be no increases in premiums. It us our willingness to accept higher prices that allows for higher prices. >>
Plenty of blame to go around and good discussion folks.
Ultimate blame lies with the consumers who guzzle soft drinks by the gallon, eats chips by the bag and waddles into the doctors office for help. No doctor can make a 400 pound person healthy. Doctor is more than happy to comply as her house gets bigger and Porsche gets faster. And of course the care is almost free as the other slob will gladly pay. Problem is, we are the other slob and we are broke.
Getting away from Precious metals (which are a bit less precious today), so I will move on.
<< <i>Folks will also stop eating out as much as prices rise. No restaurant is truly needed. >>
Except for the EBT card crowd - especially fast food restaurants.
I'm paying the fine next year. The alternative is to be fined and not pay it, which also has some merit.
I knew it would happen.
<< <i>I went to meet with an obamacare "navigator" yesterday to see if I could find out what I have to do in order to comply. It seems that I was the only one she's met with who wouldn't be qualifying for a subsidy. She was thrilled that I would be contributing my hard-earned (and much-needed) money into the system so that it would work.
I'm paying the fine next year. The alternative is to be fined and not pay it, which also has some merit. >>
My gut feeling says nobody will be fined for next year.
I could be wrong.
<< <i>Next up the new Federal autocare plan , due to start in 2020 . 3.5% out of your check employer matches an equal amount . If your car gets sick you file a claim for treatment at an authorized provider.
90 day waiting list for anything harder than an oil change and strict penalties if you attempt to work on your own car. It's not full coverage of course there will be a deductible and co-insurance.
Everyone has to pay in, even those without a car.
<< <i>I went to meet with an obamacare "navigator" yesterday to see if I could find out what I have to do in order to comply. It seems that I was the only one she's met with who wouldn't be qualifying for a subsidy. She was thrilled that I would be contributing my hard-earned (and much-needed) money into the system so that it would work.
I'm paying the fine next year. The alternative is to be fined and not pay it, which also has some merit. >>
I read somewhere that the fine is only collected if you owe taxes at the end of the year. Worth looking into.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I was researching the possibility of not paying the fine, because I had read and heard some opinions that made that seem attractive at the time. However, I did find a research paper that was commissioned by Tom Coburn's office that indicates nonpayment of the fine is problematic.
I don't think I can push it quite that far.
I knew it would happen.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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I knew it would happen.
<< <i>I read somewhere that the fine is only collected if you owe taxes at the end of the year. Worth looking into.
I was researching the possibility of not paying the fine, because I had read and heard some opinions that made that seem attractive at the time. However, I did find a research paper that was commissioned by Tom Coburn's office that indicates nonpayment of the fine is problematic.
I don't think I can push it quite that far. >>
The truly insidious part of this law is that those that logically pay the fine will be considered lawbreakers in the eyes of our government. Perhaps on par with speeding in ones car, but a lawbreaker none the less. 50,000,000 Americans will be in violation of the ACA on January first. Quite a reprehensible precedent.
"If inflation creates jobs, where are the jobs right now in Venezuela? Where were they in Zimbabwe? Argentina?"
"To compensate for the fact that wages have not kept up with inflation, socialists and monetarists want higher minimum wages. They also want inflation targets and they expect businesses to pay more in wages than prices go up! How do businesses respond? They outsource or replace humans with software and hardware robots that do not complain about minimum wages."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Economic Illiterate Proposal: 'Inflation Creates Jobs'
"If inflation creates jobs, where are the jobs right now in Venezuela? Where were they in Zimbabwe? Argentina?"
"To compensate for the fact that wages have not kept up with inflation, socialists and monetarists want higher minimum wages. They also want inflation targets and they expect businesses to pay more in wages than prices go up! How do businesses respond? They outsource or replace humans with software and hardware robots that do not complain about minimum wages." >>
Yup. The only jobs that cannot yet be outsourced are local retail. I suppose we will soon have 3D printers that can create a Pizza and the rest of the workforce will be screwed.