Minimum Wage Topic

MikeT23
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Posted by burnsy483 on 6/17/2014 9:32:00 AM (view original):
Posted by MikeT23 on 6/17/2014 9:28:00 AM (view original):
Posted by burnsy483 on 6/17/2014 9:27:00 AM (view original):
Posted by MikeT23 on 6/17/2014 9:26:00 AM (view original):
But, if Clooney has more money than he knows what to do with, why bother?   Hang out on the beach and pick up hot girls. 

I contend that he makes more movies for one of two reasons:
1.  He just loves acting
2.  He wants more money

If it's 1, he'd act for free(or cost).   If it's 2, he doesn't have enough money and values that next dollar just as much as the others.
Because he wants to buy another mansion in Miami.  He's sick of staying in hotels.
So he does value his next dollar as much as the previous?
All else equal, probably not.  When he buys his 5th house, in Miami, it's not as important as the 4th house he bought.  Otherwise he would have bought it first.  Right?
Real estate is funny.   You can't always get what you want immediately.    Maybe he had to wait to find that 5th house.   And maybe it's his favorite. 
6/17/2014 9:37 AM
burnsy483
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Maybe he paints his toenails pink.

But anyway, no, his next dollar is probably not as valuable as his previous dollar.  I bet the 1st house he bought was the most important house.  That money spent was more valuable than the money spent on his 2nd house, or 5th house, because it bought a house for him to live in in the first place.
6/17/2014 9:41 AM
MikeT23
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So, rather than sit on the beach and nail hot girls, he decides to work for more money so he can buy another house.   Yet, somehow in your mind, that next house can't possibly be as important to him as his first house.   OK, got it. 
6/17/2014 9:46 AM
burnsy483
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I'm not sure that one precludes the other.  But I'm glad we're clear now.
6/17/2014 9:48 AM
MikeT23
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We're clear about your thought process.   It's very similar to BL and his cheeseburgers.   Still not sure how that applies to the value of money but, hey, it's pointless to continue forward. 

A guy works so he can buy more stuff even though he has more stuff than he can use.  Therefore, he doesn't value his secondary stuff as much but continues to work.  

Clear as mud.

6/17/2014 9:52 AM
burnsy483
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The only thing I'd change is "than he can use."  If he legitimately can't use any more material things, he'd probably stop buying them for himself.  But yea, otherwise that 2nd paragraph makes a lot of sense.  You even called it "secondary."

Let's say you could retire in 10 years, and get a pension, and have enough money saved where you can live comfortably for the rest of your life.  Or, you could retire in 15 years, and be better off for the rest of your life.

What's more important - the fact that you had that money saved and could retire and live comfortably, or saving even more money to be more comfortable?  Obviously it's more important to be able to retire in the first place.  The first money you saved has more value to you.  The rest could be considered icing on the cake.

So just because someone works doesn't mean they NEED to.  But they want to maintain a certain lifestyle.  It doesn't mean they NEED to maintain that lifestyle. 
6/17/2014 9:58 AM
burnsy483
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You reach a point where you're comfortable, where the extra money doesn't matter too much anymore.  Otherwise you'd never retire, right?
6/17/2014 10:02 AM
bad_luck
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Posted by burnsy483 on 6/17/2014 9:33:00 AM (view original):
Posted by MikeT23 on 6/17/2014 9:31:00 AM (view original):
Posted by burnsy483 on 6/17/2014 9:29:00 AM (view original):
Posted by MikeT23 on 6/17/2014 9:28:00 AM (view original):
Posted by burnsy483 on 6/17/2014 9:25:00 AM (view original):
Posted by MikeT23 on 6/16/2014 9:03:00 PM (view original):
Posted by burnsy483 on 6/16/2014 5:20:00 PM (view original):
You're doing the "ask the same question over and over" thing again, BL.
NO ******* WAY!!!!  BL wouldn't do that.
tec is proving the next point BL made, so...
That's not a shocker assuming he's saying tec keeps answering(or avoiding an answer).   I know I found that BL was like a little kid demanding praise for his fridge drawing.   He'll just keep at it until you tell him what he wants you to tell him.

tec's talking in circles, yea. So when you or him complain about his asking the same questions over and over again, you could just answer them.
That doesn't work.   If you don't answer EXACTLY how he wants you to, he will continue to ask. 
You're reading the conversation.  Tec's being a jackass.  It's a simple question that tec won't answer.
This.
6/17/2014 10:18 AM
MikeT23
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First, I don't want to determine what other people NEED.  I'm sure you've seen the petulant child in a store, throwing a hissy fit, screaming "BUT I NEED IT!!!!"   Does he NEED that sparkly toy?  I'd say no.   But he believes he needs it.   Enough to risk an asswhuppin' for throwing a fit in public.   So, IMO, if someone says they NEED something, I believe they believe they NEED it and are willing to do what it takes to get it.    Doesn't matter if it's BL's proverbial 6th cheeseburger, the bratty kid's toy or Clooney's 5th house in Miami.   I can't imagine I NEED any of those things but they do.  Who am I to say how important those things are to them?

I can honestly say, when I don't have to work anymore, I'll close up or sell the business and move on with my life.  I don't know when that will be but I won't work because I want another car.   Or cheeseburger.    I have no idea where other's "comfort level" lies but I'll know mine when I get there.   If I'm George Clooney, I'm not working to buy a 5th house.   Not important to me.   But it must be to him.   He has obviously not reached that comfort level.

 
6/17/2014 10:29 AM
tecwrg
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Posted by burnsy483 on 6/17/2014 9:33:00 AM (view original):
Posted by MikeT23 on 6/17/2014 9:31:00 AM (view original):
Posted by burnsy483 on 6/17/2014 9:29:00 AM (view original):
Posted by MikeT23 on 6/17/2014 9:28:00 AM (view original):
Posted by burnsy483 on 6/17/2014 9:25:00 AM (view original):
Posted by MikeT23 on 6/16/2014 9:03:00 PM (view original):
Posted by burnsy483 on 6/16/2014 5:20:00 PM (view original):
You're doing the "ask the same question over and over" thing again, BL.
NO ******* WAY!!!!  BL wouldn't do that.
tec is proving the next point BL made, so...
That's not a shocker assuming he's saying tec keeps answering(or avoiding an answer).   I know I found that BL was like a little kid demanding praise for his fridge drawing.   He'll just keep at it until you tell him what he wants you to tell him.

tec's talking in circles, yea. So when you or him complain about his asking the same questions over and over again, you could just answer them.
That doesn't work.   If you don't answer EXACTLY how he wants you to, he will continue to ask. 
You're reading the conversation.  Tec's being a jackass.  It's a simple question that tec won't answer.
Jesus.  Even a complete moron could figure out my answer based on my response.

Is BL dumber than a complete moron?  Is that why he needed my to phrase the answer in a certain way, to meet his specs?

6/17/2014 10:35 AM
MikeT23
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Yes.
6/17/2014 10:36 AM
bad_luck
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Putting aside, for the moment, the gigantic task of trying to get you guys to agree that diminishing marginal utility actually exists, do you, tec and mike, see that this is the logic behind higher marginal rates on the upper income brackets?
6/17/2014 10:39 AM
tecwrg
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Posted by burnsy483 on 6/17/2014 10:02:00 AM (view original):
You reach a point where you're comfortable, where the extra money doesn't matter too much anymore.  Otherwise you'd never retire, right?
Not sure about you, but I'd like to also live comfortably after I retire, when I have considerably less income than I have now.  In fact, that's probably when I'll be looking to spend MORE money doing things like traveling than I'm able to do now.

The money to do that is the money that BL INSISTS has less marginal value to me because I don't want or need to spend it RIGHT NOW.

6/17/2014 10:40 AM
burnsy483
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Posted by tecwrg on 6/17/2014 10:35:00 AM (view original):
Posted by burnsy483 on 6/17/2014 9:33:00 AM (view original):
Posted by MikeT23 on 6/17/2014 9:31:00 AM (view original):
Posted by burnsy483 on 6/17/2014 9:29:00 AM (view original):
Posted by MikeT23 on 6/17/2014 9:28:00 AM (view original):
Posted by burnsy483 on 6/17/2014 9:25:00 AM (view original):
Posted by MikeT23 on 6/16/2014 9:03:00 PM (view original):
Posted by burnsy483 on 6/16/2014 5:20:00 PM (view original):
You're doing the "ask the same question over and over" thing again, BL.
NO ******* WAY!!!!  BL wouldn't do that.
tec is proving the next point BL made, so...
That's not a shocker assuming he's saying tec keeps answering(or avoiding an answer).   I know I found that BL was like a little kid demanding praise for his fridge drawing.   He'll just keep at it until you tell him what he wants you to tell him.

tec's talking in circles, yea. So when you or him complain about his asking the same questions over and over again, you could just answer them.
That doesn't work.   If you don't answer EXACTLY how he wants you to, he will continue to ask. 
You're reading the conversation.  Tec's being a jackass.  It's a simple question that tec won't answer.
Jesus.  Even a complete moron could figure out my answer based on my response.

Is BL dumber than a complete moron?  Is that why he needed my to phrase the answer in a certain way, to meet his specs?

I know, "yes" is hard. 

He can be difficult with the re-asking of questions, but you've done the "I never said that!" that he's referring to as well.  
6/17/2014 10:41 AM
tecwrg
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Posted by bad_luck on 6/17/2014 10:39:00 AM (view original):
Putting aside, for the moment, the gigantic task of trying to get you guys to agree that diminishing marginal utility actually exists, do you, tec and mike, see that this is the logic behind higher marginal rates on the upper income brackets?
I'd answer, but I'm afraid that I won't answer in a manner that's acceptable to you.  So why bother?
6/17/2014 10:42 AM
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