ST Alpha - "And would 4 people making minimum wage have the same economic impact in terms of consumer spending as the one making $50k?" (Reading a Post)

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In response to "Easy; the banks aren't run by unions who vote heavily democratic." by Will Hunting

And would 4 people making minimum wage have the same economic impact in terms of consumer spending as the one making $50k?

Posted by znufrii Dec 12 '08, 07:04

they wouldn't be able to afford a house, probably not a car, they would pay little or no taxes, their health care would be subsidized by the government, etc.

Responses:

If the company is going broke for spending issues, and 1 person can do 100% of the work, getting that done for 25% of cost is a huge savings. - Will Hunting Dec 12, 07:06 9
- I understand what you're saying completely, but your argument is missing the forest for the trees. - znufrii Dec 12, 07:09 5
  - I'm not even bothering with the wider economic issues here or I'd be mentioning the millions of suppliers who depend on Detroit for their jobs. - Will Hunting Dec 12, 07:12 4
    - okay, so we kick the unions out, and cut everyone's pay by 2/3rds. - znufrii Dec 12, 07:19 3
      - Maybe GM and them don't need 15billion every 2-3 months to remain in business. - Will Hunting Dec 12, 07:20 2
        
        so they can keep churning out trucks that nobody wants to buy? - znufrii Dec 12, 07:24 1
        
        obviously they have to change that as well. -- nm - loosilu Dec 12, 07:32
- this is legit, IMO. -- nm - loosilu Dec 12, 07:07 2
  - I'm a fan of unions when they're not asininely stupid. - Will Hunting Dec 12, 07:08 1
    - to clarify, I don't disagree with your point, I just don't think you're presenting a very compelling argument in favor of it. -- nm - znufrii Dec 12, 07:10
who is making minimum wage here? the bank workers or hte auto workers? -- nm - loosilu Dec 12, 07:04 3
- Will's illustration of one janitor making $50k/year, when you could hire four people at minimum wage to do the same. -- nm - znufrii Dec 12, 07:05 2
  - sorry, too early for me. ;) -- nm - loosilu Dec 12, 07:06
  - all because of the evil unions, you see... -- nm - znufrii Dec 12, 07:06

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And would 4 people making minimum wage have the same economic impact in terms of consumer spending as the one making $50k?

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