Drudge Retort: The Other Side of the News
Tuesday, June 17, 2014

For the first time, the International Monetary Fund has endorsed the United States raising its minimum wage. The IMF described the U.S. minimum wage as low by both historical and international standards, saying that an increase would raise incomes for millions of working poor Americans. President Barack Obama and some Democrats advocate a jump to $10.10 per hour.

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"The IMF estimated the US will reach full employment by 2017, adding that inflationary pressures will remain muted and the Federal Reserve policy rate could remain at zero longer than mid-2015."

Time to give Americans a raise.

#1 | Posted by Corky at 2014-06-17 03:07 PM | Reply | Flag:

Clearly the group think extends to the IMF.

#2 | Posted by LEgregius at 2014-06-17 03:14 PM | Reply | Flag:

It doesn't matter. Our GOTP congress is never going to let it happen.

#3 | Posted by Whatsleft at 2014-06-17 03:18 PM | Reply | Flag:

Time to give Americans a raise.
#1 | POSTED BY CORKY

Why? We are having children come across our borders in record numbers......

We will never reach full employment...

"adding that inflationary pressures will remain muted and the Federal Reserve policy rate could remain at zero longer than mid-2015."

LOL... sure it is...www.bls.gov

#4 | Posted by AndreaMackris at 2014-06-17 03:18 PM | Reply | Flag:

The IMF described the U.S. minimum wage as low by both historical and international standards

Why aren't they looking at the minimum wage in China or Vietnam or some other third world crap hole pulling our wages down through outsourcing?

#5 | Posted by boaz at 2014-06-17 03:21 PM | Reply | Flag: | Newsworthy 1

The IMF described the U.S. minimum wage as low by both historical and international standards...

And to think we still have some creatins around here who think minimum wages are still too high.

We don't need no stinkin "international standards". And we don't have to worry about "history" for another 50 years.

#6 | Posted by donnerboy at 2014-06-17 03:23 PM | Reply | Flag:

Pathetic when other countries tell us that our poor are too poor.

There are no real liberals in power nor fascist media in the USA.

Not one.

#7 | Posted by Shawn at 2014-06-17 03:24 PM | Reply | Flag: | Funny: 1

I read this yesterday somewhere. I didn't post it because the IMF won't say how much they think we should raise it.

just calling it "low" is pretty general. How low is it?

Certainly if they believe it's low, then they know how low, right?

unless I missed it and the IMF did say what to raise it to.

#8 | Posted by eberly at 2014-06-17 03:32 PM | Reply | Flag:

Why aren't they looking at the minimum wage in China or Vietnam or some other third world crap hole pulling our wages down through outsourcing?

#5 | POSTED BY BOAZ AT 2014-06-17 03:21 PM | REPLY | FLAG:

How dare you blame outsourcing? Be a good little conservative and blame illegal immigration from now on.

#9 | Posted by 726 at 2014-06-17 03:42 PM | Reply | Flag:

#8 | Posted by eberly

What do you think it should be raised to?

#10 | Posted by Whatsleft at 2014-06-17 03:48 PM | Reply | Flag:

I don't know. I'm not the IMF. I have my selfish reasons only.

higher wages means more work comp and general liability premiums, which means more commission $$$$

#11 | Posted by eberly at 2014-06-17 03:50 PM | Reply | Flag:

"Why aren't they looking at the minimum wage in China or Vietnam or some other third world crap hole pulling our wages down through outsourcing?"

China has been steadily raising their minimum wage for the past decade at least. The problem is that the US has been allowing our minimum wage to fall by not even adjusting it for inflation.

#12 | Posted by danni at 2014-06-17 03:51 PM | Reply | Flag:

"higher wages means more work comp and general liability premiums, which means more commission $$$$"

Also means more hamburgers sold, more toys bought, more everything purchased which boosts the economy.

#13 | Posted by danni at 2014-06-17 03:52 PM | Reply | Flag: | Newsworthy 2

Whatsleft, what about my question?

if the IMF thinks it's low, then they certainly have an idea (if not an exact number) how much it should be raised.

but they don't mention it. Why not?

#14 | Posted by eberly at 2014-06-17 03:54 PM | Reply | Flag:

#11 | POSTED BY EBERLY

That's impressively transparent of you.

#15 | Posted by rstybeach11 at 2014-06-17 03:56 PM | Reply | Flag:

Eb has always been a pretty straight shooter rsty.

It doesn't matter about min. wage. As long as bankers control the money supply there will be no overall improvement. Raising the min. wage is merely another sop to keep the plebs from rebellion a bit longer.

#16 | Posted by TaoWarrior at 2014-06-17 03:59 PM | Reply | Flag:

I also have a daughter who will be in high school in the Fall. She isn't far from getting a real job with a minimum wage.

#17 | Posted by eberly at 2014-06-17 04:00 PM | Reply | Flag:

Danni,

hamburgers are good. (livestock prices)

toys? I thought you just complained about Chinese made crap?

#18 | Posted by eberly at 2014-06-17 04:01 PM | Reply | Flag:

#17 check out the thread about Starbucks tell her to apply there. You can apply online and be directed to the closest Starbucks that is hiring.

#19 | Posted by TaoWarrior at 2014-06-17 04:10 PM | Reply | Flag:

"I thought you just complained about Chinese made crap?"

There are still American toy manufacturers.

"Play with this! The 10 best American-made toys"

www.today.com

#20 | Posted by danni at 2014-06-17 04:16 PM | Reply | Flag:

"You can apply online and be directed to the closest Starbucks that is hiring."

And they'll pay for her college, or at least part of it.

#21 | Posted by danni at 2014-06-17 04:17 PM | Reply | Flag:

#13

Most of them only care that the price of their Big-Mac might go up. They give little thought to the injection of new money circulating in the economy.

#22 | Posted by Whatsleft at 2014-06-17 04:22 PM | Reply | Flag: | Newsworthy 1

China has been steadily raising their minimum wage for the past decade at least.

Going from .50 cents an hour to .65 cents an hour is honorable to you, Danni?

#23 | Posted by boaz at 2014-06-17 04:24 PM | Reply | Flag:

#21 Why do you think I said check out the thread about Starbucks.

#24 | Posted by TaoWarrior at 2014-06-17 04:25 PM | Reply | Flag:

Why not?

#14 | Posted by eberly

I don't know. I'm not the IMF.

I do know that by some estimates, if the minimum wage had kept up with inflation, it should be closer to $20.00 per hour. I think it should be increased to somewhere between the $10.10 that Obama wants and the higher number that I just mentioned. I think $12 would be a fair start.

But as I said, it doesn't matter because the teapublicans are never going to let it happen.

#25 | Posted by Whatsleft at 2014-06-17 04:27 PM | Reply | Flag:

Going from .50 cents an hour to .65 cents an hour is honorable to you?

#23 | Posted by boaz

Should China's minimum wage be the same as ours? Should a worldwide minimum wage be set?

#26 | Posted by Whatsleft at 2014-06-17 04:30 PM | Reply | Flag:

Eberly, your daughter will probably have the same problem my teenage son is having. Most of these places don't hire anyone under 18 anymore.

#27 | Posted by TFDNihilist at 2014-06-17 04:35 PM | Reply | Flag:

Most of these places don't hire anyone under 18 anymore.

#27 | POSTED BY TFDNIHILIST AT 2014-06-17 04:35 PM | FLAG:

Too many people looking for any work in the outsourced economy.

#28 | Posted by 726 at 2014-06-17 09:29 PM | Reply | Flag:

"Going from .50 cents an hour to .65 cents an hour is honorable to you, Danni?"

Is going from $7.25 to $7.25 honorable to you Boaz?

China is raising one of the poorer nations on Earth, and the highest population, so you think they could just enact minimum wage similar to the US? Sorry, but that is really stupid. American needs to maintain our real wages while allowing developing nations to rise to our levels not to sink to theirs. Billionaires disagree with me on this.

#29 | Posted by danni at 2014-06-17 09:49 PM | Reply | Flag:

Someone please explain to me the impetus behind raising the minimum wage. Is it in support of some notion that business want to pay employees more? If that's the case, why aren't businesses doing it themselves?

And if it is a societal goal, why burden businesses with a mandatory, and completely arbitrary wage increase. If society feels that worker X is entitled to more than they can earn in a competitive market, why would society not be the ones willing to cut the check?

Furthermore, a mandatory increase in the minimum wage would have the same economic affect on a poor employee as it would on one who wasn't. A high school dropout may need the government to demand that he or she is paid a high wage. My children do not. Why on earth would you demand that a business pay a teenager a living wage. It makes no fucking sense.

#30 | Posted by madbomber at 2014-06-17 10:54 PM | Reply | Flag:

"Going from .50 cents an hour to .65 cents an hour is honorable to you, Danni?"

I remember reading in Conde Nast about the proper tipping etiquette in the highlands of Vietnam. Adventurous westerners occasionally like to backpack through the region apparently, and are inclined to tip the porters who assist them. For instance, a teenager helping a backpacker might receive a $10 tip. It doesn't seem like much to a westerner, but it's more than a village chief might earn in several months. So it would be the equivalent of paying the kid who mows your lawn $10k. It has the potential to cause serious societal problems.

That's no less true in the US.

#31 | Posted by madbomber at 2014-06-17 10:59 PM | Reply | Flag:

Mad you know that I propose eliminating the min wage altogether and replacing it with social credit. It would ultimately replace welfare systems as well. I hope you have taken some time to read the theory by now.

What would you think of that concept?

#32 | Posted by TaoWarrior at 2014-06-18 07:34 AM | Reply | Flag:

The richest on the planet are destroying it.

Give it up peacefully and fairly as you will not like the alternative.

#33 | Posted by drewl at 2014-06-18 08:34 AM | Reply | Flag:

What a joke.
People make more money in the US than anywhere else on the planet.

They better ask others to raise it up to the US level first.

This was clearly done to help there friends in the democrat party they don't care about wages.

If they did they would be trying to stop slave labor.

Typical socialist democrat party tactic.

#34 | Posted by tmaster at 2014-06-18 10:19 AM | Reply | Flag:

Raising the min wage would harm and hurt everyone even the poor.

#35 | Posted by tmaster at 2014-06-18 10:20 AM | Reply | Flag:

The IMF wants it? Proof positive we should not do it.

#36 | Posted by sames1 at 2014-06-18 05:20 PM | Reply | Flag:

I work with a lot of teenagers.

Depending on the challenge, we get paid about $12-15 an hour.
Up the challenge, we get closer to $22 an hour.

On a great challenge, we make more the $30 an hour.

95% of those I work with are teenagers, around 15-18 years old. Some are going to college and will be missed while another batch of young kids come along.

We are soccer referees.

#37 | Posted by Petrous at 2014-06-18 07:13 PM | Reply | Flag:

$10.10? why not $25?

#38 | Posted by Maverick at 2014-06-18 07:45 PM | Reply | Flag:

follow the money...question; who pays this increase? companies do next question; companies would now have to pay their employees an additional 37% increase in wages (btw, the biggest expense a company has is employees), how are these companies going to manage such an enormous increase in expenses? 1. lay people off 2. increase the price of their product or service.

Danni, your hamburger just went up at least 30%

#39 | Posted by Maverick at 2014-06-18 08:03 PM | Reply | Flag:

Danni, your hamburger just went up at least 30%
#39 | POSTED BY MAVERICK

We have some of the cheapest food in the world. You know that right?

#40 | Posted by rstybeach11 at 2014-06-18 08:18 PM | Reply | Flag:

"What a joke.
People make more money in the US than anywhere else on the planet. "

When morons like that can vote it is no wonder the country has the problems it does.

"Danni, your hamburger just went up at least 30%"

"Raising The Minimum Wage: Australia Proves Your Burger Won't Cost $20"

www.addictinginfo.org

#41 | Posted by danni at 2014-06-18 08:55 PM | Reply | Flag:

To be honest, it's kind of a catch-22.

Jobs were outsourced because labor cost to much to begin with, and I'm not saying that raising the wages is the driving force for automation, but just like high oil prices made fracking 'affordable', I think paying fast food workers more will just accelerate the application of automation.

It's coming anyway, higher wages will just make it come faster.

#42 | Posted by Lohocla at 2014-06-18 09:15 PM | Reply | Flag: | Newsworthy 1

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