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Thomas Piketty Rebuts FT Charges: 'Criticism For The Sake Of Criticism'

Thomas Piketty Rebuts FT Charges: 'Criticism For The Sake Of Criticism'

Commented May 29, 2014 at 19:48:07 in Politics

“There was a study by Princeton I believe which found that the average American have barely any influence on policy, instead it is special interests including business and wealthy donors which are having way more influence. Money talks loud in government.”
If Obama Is Actually Coming For Your Guns, He's Really Terrible At It

If Obama Is Actually Coming For Your Guns, He's Really Terrible At It

Commented May 29, 2014 at 08:57:32 in Politics

“Okay, so are you willing to let your taxes go up to address mental illness?”

Zeushas Twodads on May 29, 2014 at 09:16:17

“My taxes go up and nothing is addressed right now.”
If Obama Is Actually Coming For Your Guns, He's Really Terrible At It

If Obama Is Actually Coming For Your Guns, He's Really Terrible At It

Commented May 29, 2014 at 08:55:39 in Politics

“It works in other countries where England alone has less gun violence then Chicago, for example.”

SnowOwlFan on Jun 8, 2014 at 08:56:39

“England's handgun laws are comparatively new. England had much lower rates of murder and violent crime before they instituted handgun laws. England isn't Chicago.”
Chicago Group Pushing For $15 Minimum Wage

Chicago Group Pushing For $15 Minimum Wage

Commented May 28, 2014 at 19:53:33 in Business

“Many other developed countries that have higher minimum wage then the U.S that have a stronger middle class. Look at the South with it's low wages, the middle class is not doing so hot in these regions. You need to come up with examples before you make such a ridiculous assertion again, otherwise your just blowing hot air.”

spt65 on May 29, 2014 at 21:54:36

“So do you; please give us examples of places in the South that are not doing so good; seems to me a lot of businesses are moving there and providing good paying jobs at higher than middle class wages.”

Daniel 19 on May 29, 2014 at 13:13:50

“That is because these other developed countries don't have the same greedy middle class soaking the poor by going hog wild with the sale/rental home prices. As soon as the poor start earning more, the middle class starts jacking home prices/rents up to keep the poor out of their neighborhoods.”

smokert5555 on May 29, 2014 at 07:50:45

“Many other developed countries also have higher tax rates than the US, so that comparison is invalid. Do everybody's wages get bumped up if the minimum gets raised to $15/hr? If not, that makes everybody elses salary not worth as much. I, for example, earn just less than $15/hr. if the minimum wage gets increased that much, now my job is a minimum wage job. I had to go through years of training and accumulating job experience. Now my job wouldn't be any better than working at McD's, which requires no experience or knowledge to get or hold the job.”

Weston Harrington on May 29, 2014 at 07:33:14

“There are also countries like Germany with no minimum wage. Minimum wage isnt the solution to the problem itself.”

jstanavgguy on May 29, 2014 at 07:25:09

“Ok, let's do some math, shall we?

The average fast food franchise has $2 million in yearly revenues.

They have wage costs of 32.5%,or $650k per year, and a profit margin of 11.5%, or $230k per year.

If you increase the minimum wage to $15, that is going to increase wages by 107% across the board (Do you really think that the person making $10 now is going to be willing to accept the same as the person who was just hired last week at $7.25?)

This increases your wage costs from 32.5% to 67.275%.

In order to pay for that increase, the business will have to generate roughly 45% more revenues. This is due to higher payroll tax contributions, as well as higher state and federal unemployment taxes.

Now, ask yourself a question.

If a business such as McDonald's could generate 45% higher revenues with a 2% increase in prices, don't you think that they would have already done that?

If ANY business could add 45% to their gross revenues, by increasing prices by 2%, they would ALL be doing it.

But they are not, are they?”

Chef Geo on May 29, 2014 at 02:35:31

“They also have a higher cost of living. Let me ask you where is the money coming from to pay for all this? Not even the burger franchises could survive without drastic price increases.”

USABrad on May 29, 2014 at 02:00:34

“Lets see the starting wage for a police officer is about 18 an hour nationally, a fire fighter somewhere around 17 an hour why do either of these I can get a job at MCD for 15 and be able to not have any responsibilty no call no show and be beligierant to customers??”

FindMiddleGround on May 29, 2014 at 00:25:00

“Your examples are equally disingenuous! There are plenty of places where the MinWage is higher that have a disappearing middle class as well.

It is too severe a jump to NOT have some serious blowback... For you to blatantly ignore that aspect makes you just as dishonest as him.”

SnowOwlFan on May 29, 2014 at 00:14:48

“Most other developed nations have even higher youth unemployment than we do. If high minimum wages are how they got there, do we really want to follow their lead?

Who is cleaning our clock in world markets? China. What is the minimum wage in China? At current exchange rates, it is "Shut up if you don't want to get lined up against the wall and shot" .”

noavailusernames on May 29, 2014 at 00:07:45

“Denmark has no minimum wage and McD workers are paid $21 per hour.”

veloci1 on May 28, 2014 at 23:36:15

“Yes, let's look at the South.

I'm in AZ. My home cost $125K. I have beautiful mountain views with visibility running to 40 miles.

Same home in CA, with NO ocean views, is $750K.

All my costs, fuel, food, taxes, everything are also lower.

Consequently I live VERY well on $60K

You can't look at just income. You need to compare costs too.”

nkdgolf on May 28, 2014 at 21:36:45

“So let's stop the hot air. Raising the minimum wage to 10.10/hr will cost 500,000 jobs. What do you think $15.00 will do? What, maybe a million or more?
So you raise the $7.25/hr employee to $15/hr. Then what....oh my, the $15 goes to $20. The $20 goes to $30. Oh, guess you think it's just about $15.00.
Oh, we forgot, most union contracts are tied to the minimum wage. The unions wouldn't have any impact on what is happening in Chicago not would they?
Every action has a reaction.”

wayne acree on May 28, 2014 at 21:27:05

“jeremy,there are many things to take into consideration when trying to compare countries.Their economy,taxes,regulations,training,unemployment numbers,cost of doing business,housing market,population,all of this has to be considered.Your top countries with the lowest unemployment rates have no min, wage.http://townhall.com/columnists/thomassowell/2013/09/17/minimum-wage-madness-n1701840/page/full As far as your alleged comments on the South,Ga. has 6.8% and North,Newv York is 7.%,not much difference.”

wmarik8 on May 28, 2014 at 20:50:14

“Wages should be paid according to qualifications, knowledge and ability. Raising it just because people aren't willing or able to find better jobs is welfare. Is it any surprise that it comes from one of the most liberal cities in the country?”

Diane K elmstra on May 28, 2014 at 20:44:31

“I live in South and we are doing VERY WELL... we have areas with unemployment BELOW 5% some as low as 3%. New homes everywhere, help wanted signs everywhere. Why do you think so many companies, jobs, workers are moving SOUTH?”

Kearston Gill on May 28, 2014 at 20:28:25

“And look how the south continually votes Republican. Willfully ignorant people I tell you.”
Chicago Group Pushing For $15 Minimum Wage

Chicago Group Pushing For $15 Minimum Wage

Commented May 28, 2014 at 19:49:30 in Business

“Always the same talking points from these righties, nothing original, no matter how many times they're refuted.”
Chicago Group Pushing For $15 Minimum Wage

Chicago Group Pushing For $15 Minimum Wage

Commented May 28, 2014 at 19:46:57 in Business

“And why don't we lower the minimum wage down to $5 or $2 and hr? How low do you want to go? What do you deem acceptable?

The reality is if you can"t pay your employees a living wage (slavery is over, people shouldn't work for free) then you shouldn't be in business. Keep it locked to inflation.”
Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Commented May 28, 2014 at 09:14:09 in Politics

“The conservatives here live in their own echo chamber, they only hear themselves speaking.”

scared1234 on May 28, 2014 at 09:28:39

“Evidently these gotpers speak in tongues because they are the only ones who understand their own nonsense....”
Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Commented May 28, 2014 at 09:13:12 in Politics

“And are you willing to pay for such a plan, to socially engineer whole groups of people?”

seawillow on May 28, 2014 at 09:26:37

“I think gun control has to be incremental. Small steps, a 20-year program. We are chin deep in guns. Removing them will take a long time. So we begin where the violence occurs. What do you mean by social engineering?”
Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Commented May 28, 2014 at 09:11:46 in Politics

“Exactly. The U.S has the highest rate of gun ownership and also the highest rate of gun violence in the developed world. It's no coincidence. Too many guns out there.”
Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Commented May 28, 2014 at 09:10:19 in Politics

“The same violent movies and video games exist in other countries with extremely low gun violence, and they also have mentally ill....so that's ruled out. The problem is the widespread availability of guns in the country.”
Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Commented May 28, 2014 at 09:01:31 in Politics

“Helps when your an island isolated from the mainland. Can't say he same about cities and states that have gun regulations, there is no physical barrier keeping runs out. The gun violence epidemic has to be dealt with on a national scale.”
Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Commented May 28, 2014 at 08:57:38 in Politics

“Doesn't matter if you regulate guns in a few states and cities, they will just smuggled in from the next state or county. The gun violence problem has to be dealt with nationally in order to have any effect. Just look at the extremely low level of gun violence in other countries that regulate their firearms. Has to be done on national scale.”

zeaken on May 28, 2014 at 09:33:32

“when you reduce gun violence you just exchange it with other forms of violence. you need only look at those other countries to see that. You will also see things like the AWB had no overall effect on crime.”
Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Commented May 28, 2014 at 08:53:43 in Politics

“If he was prohibited from buying the guns in the first place, it's very likely we would only hear about the stabbing deaths and would most likely not get press attention. Guns make it easier to kill people, that's the point. Reduce the likelihood.”
Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Gun Violence Killed At Least 80 People The Week Prior To Elliot Rodger's Rampage

Commented May 28, 2014 at 08:51:05 in Politics

“It's actually the other way around with guns coming into Mexico and Canada (gun regulated) from the U.S.”

The Great Intellectual on May 28, 2014 at 09:00:01

“So you are proving that their countries can't stop the flow of guns even with their laws so it won't be different here.”
California GOP Candidate's Pro-Gun Robocall Went Out Day After Mass Shooting

California GOP Candidate's Pro-Gun Robocall Went Out Day After Mass Shooting

Commented May 26, 2014 at 08:52:55 in Politics

“More guns will not solve anything. The U.S has the highest rate of gun ownership and yet the highest rate of gun violence in the world. I don't see how MORE guns will make everyone safe.”

Blacksheep1 on May 26, 2014 at 12:46:34

“We don't have the highest rate of gun violence... And we actually have LOWER rates of violent crime than both Canada, and many nations in western Europe.”
Thomas Piketty's Inequality Data Contains 'Unexplained' Errors: FT

Thomas Piketty's Inequality Data Contains 'Unexplained' Errors: FT

Commented May 24, 2014 at 09:18:20 in Business

“Picketty had a team of researchers collecting this data over a span of 12 years and your going to fall for the opinion of one man who wrote a blog posting in the Financial Times? Of course, because it fits your ideological bias. The same applies to man-made global warming which 98% of climate scientists active in their research agree is real! but your going to believe the 2% who disagree because again it fits your bias and world view. Come on, let's get real here.”

Bart DePalma on May 24, 2014 at 11:03:14

“The critic Giles has done extensive work on the same subject. This is a peer review.

http://qz.com/213081/are-there-major-mistakes-in-the-bombshell-economics-book-of-the-year/

Bart DePalma on May 24, 2014 at 10:54:11

“The British MET database also had a team manufacturing garbage in their "adjusted" temperature database before Climategate compelled the university to clean house and correct the database, eliminating the previous claimed "warming" since 1997.

The 97% consensus urban myth was never true. It was based on a survey of articles written for selected journals, which found that 97% of the MINORITY of articles which has an opinion on AGW were written by AGW proponents. The study was meaningless.”
Meet The Only Republican Senate Candidate Who Touts His Belief In Global Warming

Meet The Only Republican Senate Candidate Who Touts His Belief In Global Warming

Commented May 24, 2014 at 09:11:35 in Politics

“What a bunch of hooey, Jason. You have the freedom to disagree of course, but when 98% of climate scientists active in their research say global warming is real and man-made and as well as over 97% of the peer-reviewed research and virtually all credible scientific organizations agreeing and you have these Republican politicians with their heads in the sand saying climate change is not happening or is natural, then they deserve a licking in the brains department, if you know what I mean. Let's get real here.”

somepeoplecallmethestig on May 24, 2014 at 16:12:28

“SO you base if a person is smart or not on one single issue, got it.”
It's Amateur Hour With The Benghazi Select Committee

It's Amateur Hour With The Benghazi Select Committee

Commented May 23, 2014 at 08:54:10 in Politics

“Everyone was in shock, so it was easy to hypnotize the public. But it seems like many have forgotten.”
Here's Why Red Lobster Is Dying

Here's Why Red Lobster Is Dying

Commented May 17, 2014 at 09:33:09 in Business

“Never been to Red Lobster, but if it is anything like Olive Garden in terms of poor quality I am not surprised of it's steady decline.”
Sheldon Whitehouse Slams Marco Rubio's Climate Change Comments In New Letter

Sheldon Whitehouse Slams Marco Rubio's Climate Change Comments In New Letter

Commented May 16, 2014 at 09:04:03 in Politics

“If we do nothing, it will only get worse. The least we can do is prevent a runaway greenhouse effect that would extinguish life as we know it on this planet. Do we want to look like the planet Venus? Neither do I.”

dougie2004 on May 19, 2014 at 07:55:30

“Wow, you're a true believer, huh? Now it's not a matter of it being a few degrees warmer but extinguishing life on the planet. Get real.”
Show This To The Next Person Who Says High Minimum Wages Kill Jobs

Show This To The Next Person Who Says High Minimum Wages Kill Jobs

Commented May 15, 2014 at 19:35:17 in Business

“People will not go elsewhere for a burger, because every business will have to pay the same minimum wage. All competing on an equal footing, get it?”

Dennis Lurvey on May 15, 2014 at 20:22:50

“that's the dream you all have, but ppl wont be able to afford a burger, will eat at home. if if a burger and a steak cost the same?? I know it seems rationals to you, what business experience do you have?”
Show This To The Next Person Who Says High Minimum Wages Kill Jobs

Show This To The Next Person Who Says High Minimum Wages Kill Jobs

Commented May 15, 2014 at 19:33:50 in Business

“If you can't afford to pay your workers a living wage, then you shouldn't be in business. The purpose of any economy is to serve the interests of the people, not vice versa.”
America's Terrible Fast Food Pay Has Gone Global, And Workers Are Fighting Back

America's Terrible Fast Food Pay Has Gone Global, And Workers Are Fighting Back

Commented May 15, 2014 at 08:53:55 in Business

“And that's exactly the reason why a fair minimum wage is needed.”

CoraM on May 18, 2014 at 21:46:34

“Yes Jeremy if you are a communist. You reap what you sew. Want more money, get more skills.”

flippyflyer on May 18, 2014 at 21:33:50

“or getting some skills to get it..”

wayne acree on May 18, 2014 at 19:59:49

“Jeremy,our economy has always paid wages based on the job,skills required,training required and talent needed and it has served us quite well.So these fast food jobs that require no skills,no talent and little training are receiving just compensation.”

ajahenry on May 18, 2014 at 19:09:32

“why? to deter people from trying for something better?”

dyogimc on May 18, 2014 at 18:25:57

“What do they have to offer besides the labor? No true skill or knowledge required in these jobs. They should not be what someone aspires to for life long work.”

mikey2525 on May 18, 2014 at 17:14:39

“and these low waged people are that they get fired and can live off the goverment , while the illegal mexicans and other illegals are happy to snap up these jobs that the one who are working feel ,entitled. a few fun facts for you . unemployment among black youth in 2009 was at 20 percent ,it is now at 42 percent, in black adults it was 12 percent ,it is now 27 many blacks who were not falling into the poverty column, now do fall there and what has this man done for HIS people? yet 86 percent still support him, please take a look at Dr Ben Carson for 2016 a real black man ,a real american , who could unite and turn this country around again. we need to be put on a correct path to prosperity , not to a welfare state .Vote for Ben Carson for president in 2016.”

dje64 on May 18, 2014 at 13:54:32

“BS-- these jobs are for high school kids not for a career move. You will need a college degree to get a job at a fast food joint. Don't be stupid.”

jackbrickhouse on May 18, 2014 at 12:41:10

“6percent get minumin wage and mose are teenagers,minumin wage are jobs people take for a short time,this is just more class warfaire to ruin the economy”

bucktownboy on May 18, 2014 at 11:34:18

“We should be forced to have higher wages for an unskilled work force?For a job that requires no education or skills? Wow, even for you socialists that's a scary scenario.”

d1anaw on May 18, 2014 at 10:30:39

“Or you could do something radical like get a job skill and move on. Oh wait, that would require effort on your part and well, we just cannot demand that anyone stand up and do anything for themselves.”

nf1stinks on May 18, 2014 at 10:29:19

“What if fair?”

FarfalleAlfredo on May 18, 2014 at 08:36:04

“This is a fair wage for the amount of education and skill needed for the job. Minimum wage can be lived on, I do it. One just has to live within their means.”

cskirk2 on May 15, 2014 at 18:59:10

“that is why you are exactly wrong and misinformed Jeremy. Basic principles of economics.”

Kiddy Kat on May 15, 2014 at 17:58:22

“yes, it's like the old factory sweatshop days but with air conditioning, breaks and days off. look what a living wage did for them, created the middle class.”

Dorinda Agosto on May 15, 2014 at 15:07:42

“Fair, yes. $15 per hour? No. Let them work two jobs if they need to make ends meet. I did.”

Glasswing on May 15, 2014 at 13:39:22

“I don't disagree with a bump in pay...but $15 an hour would be taking it a bit far!”

Hannah Blair on May 15, 2014 at 12:18:25

“I would love to know I could work at McDonald's and receive the same compensation as at my current job but life isn't supposed to be that easy. (take a look at how much harder the rest of the world works compared to America) And yes, McDonalds and company could choose to pay their workers more without raising the price of their products but unfortunately it's not in American culture to treat workers as individuals with needs. The Corporations are pleading "not our problem" but with CEOs these days making billions of dollars that they don't know what to do with besides trust funds for their great-great grandchildren, I think they are precisely the problem.”

CupOHemlock on May 15, 2014 at 10:00:18

“Actually, it is precisely the reason wages are so low for the job.”

Caronaboy53 on May 15, 2014 at 09:04:29

“We have one. They just don't like it. So I would urge them to work somewhere else. Oh, they don't have the skills to do that? Bingo.”
Climate Change Is A Growing National Security Concern, Say Retired Military Leaders

Climate Change Is A Growing National Security Concern, Say Retired Military Leaders

Commented May 14, 2014 at 19:33:20 in Green

“The whole world knows it's a problem.”
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