Top of the show 

Welcome everyone and thank you for joining us. This is valid arguments. A show that feels like it gives you two extra kidneys. I’m Jeremy Horton, and Today were going to be talking about The Minimum wage! We will also be arguing about twerking and hitchhiking. Joining me today is Mr. Milo Mordhorst on my right. (Milo intro). And Mr. Joel Barkley on my left. (Joel intro). Thank you both, now I will get into the questions in a minute, but first let’s have a word from our sponsor. 

Questions I will ask: 

  • Let’s do some basic math. Let’s say we’re raising the minimum wage by 5 dollars. the cost of employing someone goes up by about $5 per human right? So, if I run a coffee shop with 10 employees working 8-hour days, my cost of doing business per hour just went up $50 per hour or $400 per day. Now the average coffee shop makes an average of 2.5% profit margin so lets be generous and say I sell a $5 cup of coffee. I’m still only making 15 cents per. Which means I have to sell an additional 2,800 cups of coffee to make up the difference. That’s a clearly an unreasonable amount of growth to expect from anyone who isn’t Starbucks, so how on earth could anyone say that raising minimum wage wouldn’t result in price increases? 
  • We are now going to tackle the myth that minimum wage reduces poverty. The congressional budget office examined how increasing the federal minimum wage to $10, $12, and $15 per hour by 2025 would affect employment and family income. They found that raising it to that $15 mark would result in 1.3 million jobless folks and lose overall 3.8 Mileys from the workforce. The amount of people lifted out of poverty by this is around 1.3 mil. However, raising it to the $10 mark would lift about 3.5 Mileys out of poverty and have negligible changes to the amount of people in poverty. My next question is how many people are you willing to sacrifice, and can you tell me their names? 
  • Palette cleanser/segment – should twerking be a nationally recognized sport? 
  • I want to share with you a statistic that will shock you! (DUH DUH DUH!) Minimum wage has not kept up with inflation. (duh duh duh!). I’ll say it again, minimum wage has not kept up with inflation. The inflation debate is one I’m particularly interested in because it pits two factors against each other. Those factors are wage growth and productivity. See if the minimum wage were to have kept up with normal wage growth it would be somewhere around $11.62. However, if it rose based on Americans productivity then it would be somewhere around $20. Currently we rank 5th in the world for most productive workers only coming in behind bullshit euro trash countries with like 500 people in them. Do you guys know what that means?  
  • The employment policies institute recently surveyed 166 economists on the subject of raising the minimum wage. They all overwhelmingly opposed it. One of the reasons was that empirical evidence found that teens and youths exposed to higher minimum wages have lower wages and earnings when they are in their late twenties, consistent with reduced skill acquisition. That means raising the minimum wage makes it harder for low skilled young people to find their way to a university to increase their skill and by proxy their pay level. Why do you guys think that is? 
  •  Palette cleanser/segment – When is ok to pick up a hitchhiker 
  • We’re in a new age of business wouldn’t you guys say? The companies of the past have gone away and the new ones are constantly evolving to keep up with the youngins. I want to talk about a small business that recently said that it would have to close the doors to half their facilities if minimum wage were raised to $15. Vice president of this salt of the earth company said doubling the minimum wage would be catastrophic to his business and is unsustainable. Yes, we often forget about the ma and pa businesses like white castle that would be vastly displaced by the minimum wage being increased. So, is the businesses at fault for not adapting to a changing environment, or is this communist China? 
  • Ok guys. I know I fuck around a lot we these questions but we are going to end on something serious today. And I already know what you’re going to say so I’m just going to get it out of the way and then we can move on. Recently Illinois, California, and 5 other states hopped on the bad idea train that is raising the minimum wage, and that sparked a debate across the country. Among the results of that debate we found out that 75% of Americans support raising the minimum wage. 6% of economists support raising the minimum wage. And 100% of business owners will hire less workers and focus more on Automation. Last question, WHY DO YOU WANT THE ROBOTS TO TAKE MY JOB!? 
  •  Palette cleanser/segment –  
  • .how do we solve this thing? 

Argument for: 

  • .Help the poor  
  •  Help the poor 
  •  Help the poor 
  •  Help the poor 
  •  Help the poor 
  •  Help the poor 

Sources: 

Key groups: 

  •  Raise the minimum wage 
  •  Fight for 15 
  •  Action Now 

Key people: 

  • Penny Pritzker  
  •  Karl Marx 
  •  Bernie Sanders 
  •  Vladimir Lenin 
  • Alan Greenspan 

Key Movies:  

  •  Wage crisis 
  •  We the Economy 
  •  Waging a living 
  • Life on Minimum wage 

Argument Against 

  • .Kill the poor 
  • . Kill the poor 
  • . Kill the poor 
  • Kill the poor 
  • Kill the poor 

Sources: 

Key people: 

  •  Tom Harkin 
  •  Paul Krugman 
  •  Joseph stiglitz. 
  •   

Key groups: 

  •  Rebuild America 
  •  Economist intelligence unit 
  •  Global Economics group 
  • The Rothchild Family 

Key Movies: 

  •  Inequality for all 
  •  Hourly America 
  •  Bottom Dollar 
  •  Something Ventured 

Outro: *summarize Joel and Milo end arguments* I think that both sides have………………Valid Arguments. Tonight’s winner had this to say. The real minimum wage is zero. Thomas Sowell, ladies and gentleman. If you are for raising the minimum wage then I suggest you get in touch with the fight for $15 organization and see how you can help out. If you want minimum wage kept the same or outlawed entirely, then I suggest you try to revive the tea party movement. Good luck. If you decide to do nothing, then at the very least, keep arguing and talking about it. Because the only way we solve any controversial issue, is to argue about it. 

I’d like to thank you all for joining us, and thanks milo and Joel for your thoughts on the subject. If you want YOUR voice counted amongst those that argue, then get at us on social media @argumentsvalid on twitter and valid.arguments on Instagram, or if you think social media is just as evil as sasquatch enthusiasts, please feel free to call and leave us a voicemail, the number is on the website ValidArguments.org. And if you like the show please leave us a rating and review, and tell your friends to argue with us as well. and please join us in two weeks when we’ll have more arguments for you. We hope to disagree with you soon.