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(Twitter)   It's time to abolish the minimum wage, and replace it with melt value wage   (twitter.com) divider line
    More: Obvious, shot  
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1156 clicks; posted to Business » on 14 Jan 2022 at 3:50 PM (1 day ago)   |   Favorite   |   Watch    |   share:  Share on Twitter share via Email Share on Facebook



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‘’ 1 day ago  
Original Tweet:

 
‘’ 1 day ago  
"beinlibertarian:"
Fark user imageView Full Size
 
‘’ 1 day ago  
If I'm reading this right, they're arguing for setting minimum wage at $1.25?
 
‘’ 1 day ago  
But hey, $23.34 is a good start too
 
‘’ 1 day ago  
Okay grandpa. What we really need to do is peg it to crypto.
 
‘’ 1 day ago  

NateAsbestos: If I'm reading this right, they're arguing for setting minimum wage at $1.25?


Yeah, but $1.25 in Precious Metals instead of evil fiat currency, so it's okay.
 
‘’ 1 day ago  
Nothing about being paid in pocket constitutions and homemade checks?
 
‘’ 1 day ago  
Just don't get him started on the Bumblebee Nickel
 
‘’ 1 day ago  
Libertarians are farking stupid.
 
‘’ 1 day ago  
Melting down coins is illegal.
 
‘’ 1 day ago  
Keep in mind, this makes a great point if you're a libertarian.

$1.25 in 1964 is $11.25 in 2021 dollars. The minimum wage in 1964 was $1.15.  Ergo, make quarters out of silver.
 
‘’ 1 day ago  
We should go back to bartering chickens. You can't melt those.

I mean you can, but once it gets to the stew stage you generally stop and dip in some biscuits.
 
‘’ 1 day ago  
obvious tag?
you must mean obvious bullshiat, right subby?


you want a fair wage for all?
Do this:
Corporate taxes are set to a % of the, revenue, not "profits", and the % is relative to the pay gap, between the highest compensated and lowest compensated worker.
And for sure the calculation takes contractor labor, and unpaid interners, into account as tho reltivei t the highest p. No loop hole of having two staff, like a CEO and a CFO, and then contract it all out at cut rate wages.

With a system such that really well paid employees and a leadership that's not take the lions share alone for themselves, would pay a tiny weeny paltry bit of taxes.
 
‘’ 1 day ago  

austerity101: Melting down coins is illegal.


It's perfectly legal in the United States as long as the intent is not to deceive or defraud.
 
‘’ 1 day ago  
I've maintained for years a specific monetary value for a minimum wage is a bad idea because it means the fight returns time and time again with cost of living increases.  There have to be indices based on location and cost of living that would work better.  Though it does make creating a catchy slogan difficult.

This idea, however, is worse that a specific monetary value.

Minimum Wage
Youtube SRcRn_Xv7Ek
 
‘’ 1 day ago  
Maybe libertarians can creat a crypto stablecoin pegged to physical gold?  They can then convert this into home and auto loans for libertarians to bask in the glory of a volatile commodity.  I mean freedom.  Forget the volatility part.
They don't want that?  Why not!
 
‘’ 1 day ago  
Someone thought that was clever when they posted it. That person is why we laugh at libertarians.
 
‘’ 1 day ago  
LOL. Guess what the "melt value" of a Tesla is.
 
‘’ 1 day ago  
What's the melt value of consent?
 
‘’ 1 day ago  
That's about an ounce of silver. In 1980 the Hunt brothers manipulated the price of silver to >$50/oz, or close to $340 in current dollars. Your "sound money" is a naive delusion.
 
‘’ 1 day ago  
The tweet is objectively wrong. The current melt value of five quarters is $16.39 (there is 22 grams of silver in five old quarters).

So yeah, that $15/hr minimum wage fits right in. Libertarians always getting it wrong.
 
‘’ 1 day ago  
Got my onion tied to my belt.
 
‘’ 1 day ago  

iamskibibitz: austerity101: Melting down coins is illegal.

It's perfectly legal in the United States as long as the intent is not to deceive or defraud.


Or to sell the raw materials for profit, which is the exact thing to which this post was alluding. Which was my point. Sorry that I wasn't more explicit.
 
‘’ 1 day ago  
PvtStash:
you want a fair wage for all?
Do this:
Corporate taxes are set to a % of the, revenue, not "profits",


Nobody will go for this.  What percentage are you thinking?  Because the latest financial statements say revenue was $571.96B and earnings $15.41B.  They spent $556.55B on costs, including wages that get taxed and supplier purchases that probably get taxed depending on locations involved.

I replace your carburetor, it costs me $780 and I charge you $800.  You're going to tax me on $800 of revenue?  Don't bicker about the price of a carburetor, or that they aren't used in newer cars, defend your revenue vs profits idea.
 
‘’ 1 day ago  

OptionC: What's the melt value of consent?


My entire heart.
 
‘’ 1 day ago  
There is nothing stopping a Libertarian business owner from tying the wages they pay to the price of silver.  I.e. they could state I will pay you the value of one ounce of silver/hour based on the price of silver at the start of the pay period.   Here's what that would look like.  Good luck doing a budget.  Anyway this dude is just making the case that minimum wage should be at least $23/hour.
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‘’ 1 day ago  
Crypto is artificial wealth just like cash. Land is real wealth. Now that libertarians are talking about buying islands with crypto, the scam appears.
 
‘’ 1 day ago  

madgonad: The tweet is objectively wrong. The current melt value of five quarters is $16.39 (there is 22 grams of silver in five old quarters).

So yeah, that $15/hr minimum wage fits right in. Libertarians always getting it wrong.


No matter the social problem, there is always a solution that us clear, simple, and dead wring.
-- Saint Mencken
 
‘’ 1 day ago  
Modern English - I Melt With You (Official Video)
Youtube LuN6gs0AJls

Stop the fed I'll melt with you
 
‘’ 1 day ago  

replacementcool: Libertarians are farking stupid.


Objectivism is autism, expressed as an existential philosophy.
Libertarianism is autism, expressed as a political philosophy.
 
‘’ 1 day ago  
You're not wrong, but I think a lot of spreadsheet-filling useless sacks of shiat will have a problem with this.
 
‘’ 1 day ago  

Myk-House of El: I've maintained for years a specific monetary value for a minimum wage is a bad idea because it means the fight returns time and time again with cost of living increases.  There have to be indices based on location and cost of living that would work better.  Though it does make creating a catchy slogan difficult.

This idea, however, is worse that a specific monetary value.

[YouTube video: Minimum Wage]


That creates upward wage spirals in high earning areas, where for example sfo will have people living in coffin hotels qt 2500/month for that sweet $120/hr minimum wage while they send it all back to their family in bumfark and screw up the economy there.
 
‘’ 1 day ago  

PvtStash: obvious tag?
you must mean obvious bullshiat, right subby?


you want a fair wage for all?
Do this:
Corporate taxes are set to a % of the, revenue, not "profits", and the % is relative to the pay gap, between the highest compensated and lowest compensated worker.
And for sure the calculation takes contractor labor, and unpaid interners, into account as tho reltivei t the highest p. No loop hole of having two staff, like a CEO and a CFO, and then contract it all out at cut rate wages.

With a system such that really well paid employees and a leadership that's not take the lions share alone for themselves, would pay a tiny weeny paltry bit of taxes.


Why not just tax profits? The whole point originally was that corporations have incentive to spend more of their profit on employees and inventory because they don't get to keep the money either way.
 
‘’ 1 day ago  

OptionC: What's the melt value of consent?


One bullet.
 
‘’ 1 day ago  

dionysusaur: madgonad: The tweet is objectively wrong. The current melt value of five quarters is $16.39 (there is 22 grams of silver in five old quarters).

So yeah, that $15/hr minimum wage fits right in. Libertarians always getting it wrong.

No matter the social problem, there is always a solution that us clear, simple, and dead wring.
-- Saint Mencken


Like autocorrect!
 
‘’ 1 day ago  

akallen404: Why not just tax profits? The whole point originally was that corporations have incentive to spend more of their profit on employees and inventory because they don't get to keep the money either way.


Is that Friedman? (I've only read one book by Keynes but if he had said it, I think he'd have said it in the one I read).
 
‘’ 1 day ago  

jso2897: replacementcool: Libertarians are farking stupid.

Objectivism is autism, expressed as an existential philosophy.
Libertarianism is autism, expressed as a political philosophy.


oh fark off, try not lumping us autistics in with the bankrupt, selfish philosophy of libertarianism.
 
‘’ 1 day ago  

madgonad: The tweet is objectively wrong. The current melt value of five quarters is $16.39 (there is 22 grams of silver in five old quarters).

So yeah, that $15/hr minimum wage fits right in. Libertarians always getting it wrong.


There's more than 22 grams.  .715 troy ounce (of pure silver) per dollar of junk, x 1.25 is 0.89 troy ounces or ~28 grams.  A bit over $20 at spot right now.
 
‘’ 1 day ago  

iamskibibitz: austerity101: Melting down coins is illegal.

It's perfectly legal in the United States as long as the intent is not to deceive or defraud.


In the course of researching that, I learned this:

"It is illegal to take more than $5 worth of pennies and nickels out of the U.S."

Who would have guessed that?
 
‘’ 1 day ago  
Ok, how much cooking oil can we render from your average minimum wage employee?
 
‘’ 1 day ago  

NateAsbestos: If I'm reading this right, they're arguing for setting minimum wage at $1.25?


No they're arguing over the age of consent.
 
‘’ 1 day ago  
Who thinks you can have a successful society in which everyone strives to avoid paying taxes, or tries to pay the least amount? It's madness, but it's our "system"
 
‘’ 1 day ago  

cryptozoophiliac: Who thinks you can have a successful society in which everyone strives to avoid paying taxes, or tries to pay the least amount? It's madness, but it's our "system"


Name a country where people don't.  It's the national sport in Greece and Croatia.  Even in Best Korea people make most of their money in tax free black markets or under the table work.
You read this as if I wrote it on Art Laffer's cocktail napkin.
 
‘’ 22 hours ago  

Northern: cryptozoophiliac: Who thinks you can have a successful society in which everyone strives to avoid paying taxes, or tries to pay the least amount? It's madness, but it's our "system"


Name a country where people don't.  It's the national sport in Greece and Croatia.  Even in Best Korea people make most of their money in tax free black markets or under the table work.
You read this as if I wrote it on Art Laffer's cocktail napkin.

Well...appeal to the popularity of a stupid idea isn't exactly a counterpoint. The VAT was an attempt at rational taxation. You can try to avoid a VAT, but you will probably be breaking the law in the EU, at least as I understand it.
 
‘’ 19 hours ago  

cryptozoophiliac: Northern: cryptozoophiliac: Who thinks you can have a successful society in which everyone strives to avoid paying taxes, or tries to pay the least amount? It's madness, but it's our "system"

Name a country where people don't.  It's the national sport in Greece and Croatia.  Even in Best Korea people make most of their money in tax free black markets or under the table work.
You read this as if I wrote it on Art Laffer's cocktail napkin.

Well...appeal to the popularity of a stupid idea isn't exactly a counterpoint. The VAT was an attempt at rational taxation. You can try to avoid a VAT, but you will probably be breaking the law in the EU, at least as I understand it.


The VAT is a regressive tax.  Many EU countries have higher income taxes than the USA on high income individual earners (some have similar low tax policies as well).
A national sales tax in the USA isn't feasible politically, the GOP has as it's central platform reducing taxes and government spending even as they give away trillions to the wealthy and cut their taxes only.
I think a VAT with a boost in minimum wage to $20/hour, plus other protections and portable pensions would be interesting though.
 
‘’ 16 hours ago  

austerity101: iamskibibitz: austerity101: Melting down coins is illegal.

It's perfectly legal in the United States as long as the intent is not to deceive or defraud.

Or to sell the raw materials for profit, which is the exact thing to which this post was alluding. Which was my point. Sorry that I wasn't more explicit.


So you'd have to sell the 5 melted down quarters for $1.25 max.


So by minting it, the treasury actually devalues the raw material.
 
‘’ 16 hours ago  

TheSubjunctive: madgonad: The tweet is objectively wrong. The current melt value of five quarters is $16.39 (there is 22 grams of silver in five old quarters).

So yeah, that $15/hr minimum wage fits right in. Libertarians always getting it wrong.

There's more than 22 grams.  .715 troy ounce (of pure silver) per dollar of junk, x 1.25 is 0.89 troy ounces or ~28 grams.  A bit over $20 at spot right now.


You have to divide by 1.25 because a dollar does not equal one dollar and twenty five cents.
 
‘’ 11 hours ago  

PvtStash: obvious tag?
you must mean obvious bullshiat, right subby?


you want a fair wage for all?
Do this:
Corporate taxes are set to a % of the, revenue, not "profits", and the % is relative to the pay gap, between the highest compensated and lowest compensated worker.
And for sure the calculation takes contractor labor, and unpaid interners, into account as tho reltivei t the highest p. No loop hole of having two staff, like a CEO and a CFO, and then contract it all out at cut rate wages.

With a system such that really well paid employees and a leadership that's not take the lions share alone for themselves, would pay a tiny weeny paltry bit of taxes.


Or we could just set the corporate tax rate to zero and increase taxes on the top 20% of income earners. Make it 60% for incomes over 450,000
 
‘’ 11 hours ago  

Dear Jerk: Crypto is artificial wealth just like cash. Land is real wealth. Now that libertarians are talking about buying islands with crypto, the scam appears.


Agreed, land value taxes or nothing.
 
‘’ 5 hours ago  

replacementcool: Libertarians are farking stupid.


Wouldn't anyone farking a libertarian be farking stupid?
 
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