Congress getting richer, again Options

[schwab]

and how many days of the year do they actually work? instead of lounging around and cricizing each other

[knucklehead]

Maybe it's just me, but if we had the top 20 people or so in my company get together and vote "should we all get a raise?" I think it's a no brainer as to what the outcome would be.

Very true, and I don't think it's a shock that congress consistently votes themselves a healthy pay raise. I just think there should be a system or process that puts this shit in check, other than the possibility of pissing off the voters. That obviously isn't of much concern to them in this situation.

I just think this crap undermines Congress' true role, as servants of the people. They're lining their own pockets when they could be doing more for the people. But again... not a big surprise.

[chook]

Actually, it helps the economy. Poor people aren't exactly known for saving. The more money the poor have, the more money that gets spent, the more job creation occurs. Economics 101.

I believe this, they put money directly into the economy and not in their 401k

[Dogmeat]

$170,000 a year isn't shit comapared to what most of those guys had already made prior to being elected to the senate....

[schwab]

$170,000 a year isn't shit comapared to what most of those guys had already made prior to being elected to the senate....

yeah and if that is the case, why do they need a raise if they already made all that money

and this is a voluntary job, they chose to run for it, if they do not like the income from it then dont fucking try to get that job

[pebkac]

Another thing to keep in mind is that Congressmen are required to have two houses: One in DC and one in their home district. And 170k really doesn't go all that far in DC for a house.

[jonathan83]

Another thing to keep in mind is that Congressmen are required to have two houses: One in DC and one in their home district. And 170k really doesn't go all that far in DC for a house.

then they should build some dorms in DC for them

[Spectatrix]

Side question: Can anyone here put up a valid arguement for the elimination of a minimum wage?

The thing about minimum wage is that it's essentially ineffective. They raise the wage, some lower-end people get laid off initially, prices go up to compensate for the increased labor costs. People are making more but end up paying more too. It also eliminates the possibility of having a training wage. If companies could set their own wages, they could hire some truly unskilled workers (high schoolers in their first job, for instance), train them, and then pay more once they had the skills to be worth more.

That having been said, I do see minimum wage as being necessary in markets where unemployment is high. When it's low or average, workers have more of an opportunity to switch jobs or negotiate raises if they don't feel they're getting paid what they're worth, whereas business most definitely has the upper hand in high-unemployment areas.

[Billy]

Just to dispel a myth about labor:

Here's an income statement from Nike Corporation:

Yahoo Finance

Cost of Goods Sold: $7,624,300,000

Administrative Expenses: $4,221,700,000

This is typical of large coorporations.

WTF. You're telling me the CEO's and managers of these companies need over half the price it costs for the material of the goods and the labor to make it? Bullshit.

So if minimum wage goes up, will there be firings? Yes. Why? Because the American public seems to believe that labor makes up the majority of the expense of a company, and these companies can get away with spouting nonsense. So will they fire because they need to? Absolutely not. They'll fire to make a statement. And they'll be able to justify it with "oh, we can't afford to keep as much labor now, thanks to the minimum wage hike". And people will sadly believe them.

[Spectatrix]

From what I remember working at Papa John's, labor was about 20% of the cost.

[chook]

From what I remember working at Papa John's, labor was about 20% of the cost.

of couse total cost of a pizza (at least at dominos) was around 1.50, everything else was pure profit minus the gas comp to the worker.

[Testm0nkey]

Another thing to keep in mind is that Congressmen are required to have two houses: One in DC and one in their home district. And 170k really doesn't go all that far in DC for a house.

my family was able to live in DC AND own a house and at that time my father made no where near 170k.
it is their decision to own prime real estate and fancy cars

[knucklehead]

$170,000/yr is also just the pay for the average joe in congress. Hastert is probably raking in close to $220,000/yr after this raise.

Personally I like Hastert and I think he did good on his part with the Jobs and Growth Act, but I still think ~$220,000 is a little excessive for any damn government job.

[Psykopath]

plus, no taxes and insane benefits.

[GOB]

ha, and the average salary of american doctors dropped 7% from 95-03