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Nairaland Forum / Nairaland / General / Politics / USA Minimum Wage Vs Nigeria Minimum Wage. (57192 Views)
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Re: USA Minimum Wage Vs Nigeria Minimum Wage. by Nobody: 5:04pm On Sep 15, 2013 |
manny4life: Name just one, JUST ONE, freaking area where that hell hole called Nigeria got it better than even a local street in Cali! See the reason why I despise you now? Dude, is it just in u guys' genes to be unable to tell a simple truth? 3 Likes |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by anonimi: 5:08pm On Sep 15, 2013 |
ayobase: The state of California's minimum wage of $10 (N1,500) per hour to start by 2016. It seems it is about $8 (N1,200)at the moment. The minimum $2,000/month gives 24,000/year. Let's compare with what a city council member earns in California. The 2,000 folks who serve on California's city councils -- fielding complaints about pot holes, and about how that new development will destroy the neighborhood's character, etc. etc. -- received more than $38.9 million in compensation for their troubles last year, according to figures from the state controller's office. Thus a minimum wage earner is about the same for the base wage for a councilmember. If we take an rough average of their (total?) compensation (comp) at $120,000 that is 5 times the MINIMUM wage of 24,000. In Nigeria a LGA Councillor (equivalent of US councilmember) collects N=250,000 monthly for doing almost NOTHING compared to the 18,000 minimum wage. That is almost 14 times the minimum wage. And some Nigerian graduates are even "empowered" with much less as "stipend" of 8,000. Meanwhile the Nigerian councillor also collects monthly from simply sharing the federal allocation from Abuja's national cake aka Niger Delta oil revenue. Do we see where the problem is Also partly explains why there was no massive brain drain in up to the early 1980s from Nigeria of people going into socio-economic EXILE!!! 1 Like |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by pleep(m): 5:08pm On Sep 15, 2013 |
The minimum wage is one of the worst laws in America. If you have a basic understanding of economics you would realize that a price floor (a minimum price for a product) creates a surplus in said product. This is because they are some positions that are simply not worth 10/hour.. so employers save money by not hiring people. This is one of the chief causes of unemployment in the united states. If we had no minimum wage some people would be working for $4, 5, 6/hour, but atleast they would have jobs, not sitting at home on welfare smoking weed and producing children. 2 Likes |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by Nobody: 5:09pm On Sep 15, 2013 |
Lamasta : Look at the thinking of an illiterate: "I can be richer than everyone around me. I will be super rich while, everyone around me will be super poor all I need to do is just 'tap' into this one area...", abi no be so you talk? I also see that you despise paying taxes. Soooo, u think your job on earth is to accumulate as much wealth as possible without giving to Caesar's what is his? P.S: Youre hinging ur hopes of development and progress on China's?! lmaooo U guys are freaking clowns. 2 Likes |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by pleep(m): 5:12pm On Sep 15, 2013 |
kingoflag:Tax is no joke... in my state we pay 10% on everything we buy, on top of social security, income tax, property tax, capital gains tax, bla bla bla bla... Thats more than you niggas give to jesus every sunday. |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by Nobody: 5:12pm On Sep 15, 2013 |
pleep: The minimum wage is one of the worst laws in America. If you have a basic understanding of economics you would realize that a price floor (a minimum price for a product) creates a surplus in said product. This is because they are some positions that are simply not worth 10/hour.. so employers save money by not hiring people. What the hell is this crap you just posted? 1 Like |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by MrMann1(m): 5:16pm On Sep 15, 2013 |
mayten30: are you sure u live in america?is either you live a low life in america or you live on the streets or na togo u dey wey u dey talk say america,800 dollars per month being saved from 10 dollars per hour?are you not paying taxes?or are u not eating or are you not living in a house?I smell big lies.Guy, he could be offered 20$ per hour, remember 10$ is minimum pay, but he could have a better job, do some overtime at work, or have 2 jobs. Juz saying |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by Nobody: 5:16pm On Sep 15, 2013 |
pleep: Tax is no joke... in my state we pay 10% on everything we buy, on top of social security, income tax, property tax, capital gains tax, bla bla bla bla...We get it dude, youre trying to show us you live in the States. E don do. Youve made your point. Oya, buzz off and start stating your foolishnes elsewhere, abeg, I no get time. P.S: Im not Christian. I do not follow organized religion. And, if you dont feel like paying taxes, theres always a banana boat to hop back on: destination Africa. Either that or go to Prison like Fat Joe, Wesley Snipes and co. Notice, we dont do the "Big Man" thing out here. We will lock ur aszz up with a quickness. |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by pleep(m): 5:16pm On Sep 15, 2013 |
kingoflag:Its called economics. The point where the supply and demand curves (S, D) intersect is called the market price. The minimum wage sets the price above this level, (green line) resulting in a surplus. i'm sorry if this goes a little over your head.
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Re: USA Minimum Wage Vs Nigeria Minimum Wage. by Nobody: 5:17pm On Sep 15, 2013 |
pleep: The minimum wage is one of the worst laws in America. If you have a basic understanding of economics you would realize that a price floor (a minimum price for a product) creates a surplus in said product. This is because they are some positions that are simply not worth 10/hour.. so employers save money by not hiring people. Bruv, there are Mexicans who earn as little as the bolded above. Loads of mofo just exist on this planet - it's a crazy world, yo. |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by Nobody: 5:20pm On Sep 15, 2013 |
pleep: Its called economics. The point where the supply and demand curves (S, D) intersect is called the market price. The minimum wage sets the price above this level, (green line) Youre a clown! A dense one for that matter. If this goes over my head?! You do realize that youre the one still not used to the concept of minimum wages and/or taxation? 1 Like |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by Nobody: 5:21pm On Sep 15, 2013 |
freakyhat: Manny4life, is just a deceptive dunce. Id ignore him if I was you. |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by pleep(m): 5:23pm On Sep 15, 2013 |
shymexx:Yes indeed, speaking of which... its only because of those Mexicans working below minimum wage that we are able to enjoy cheap lettuce and tomatoes in the grocery store. Which illustrates another point; if we got rid of the minimum wage the price of goods in America would fall... probably to the point where the 5 dollars/hour could actually sustain a family. |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by Nobody: 5:24pm On Sep 15, 2013 |
Baybe: How can you compare Nigeria with USA? And in Nigeria you wont earn even a penny, to talk of paying taxes. Now tell me which is worse! 1 Like |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by locust01(m): 5:24pm On Sep 15, 2013 |
Chinwem: Labour is cheap in AfricaAs in like seriously serious labour is cheap in Africa. There is what I call co-operate slavery. |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by pleep(m): 5:28pm On Sep 15, 2013 |
kingoflag:Do you know the median net worth for a black woman in America is $5? FIVE FUCKIN DOLLARS http://www.post-gazette.com/stories/news/us/study-finds-median-wealth-for-single-black-women-at-5-236905/ You try spending 20, 50 $60,000 dollars to go to school before you act like america is a cakewalk. I know people who have over 100,000 in student loan debt at 8% interest. America is no promised land |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by oyunoyun: 5:30pm On Sep 15, 2013 |
the tax is not that much, for that amount, the tax is like 8%, a student friend of my in a sch there, earns $880 per month, and after tax, is $811 and u will enjoy the dividend of the tax, unlike naija, i payed tax of 11% in a private company work in Naija, there is nothing working in naija, and that is a waste of 11%, if one earns that kind of money in US, and come back to spend it in naija, it is 160 more better values!!!!!! |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by Nobody: 5:33pm On Sep 15, 2013 |
pleep: Yes indeed, speaking of which... its only because of those Mexicans working below minimum wage that we are able to enjoy cheap lettuce and tomatoes in the grocery store. I don't think dropping the minimum wage would have a bearing on the price of goods, since in the west, the government isn't really an employer of labour. Things that affect the price of goods are: taxes, cost of transportation and other miscellaneous things. So getting rid of the minimum wage won't stop the government from increasing taxes, cost of transportation and other things. Personally, I think the problem lies with extreme capitalism because the society is for the rich and rich alone. The poor are just there to complete the hierarchical structure and serve the rich. 1 Like |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by pleep(m): 5:34pm On Sep 15, 2013 |
locust01: As in like seriously serious labour is cheap in Africa. There is what I call co-operate slavery.That is a good thing. When wages go up in china, they will start outsourcing jobs to africa! Low wage = high employment.. this is how china became a superpower, by stealing jobs from America. Now its our turn 1 Like |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by Nobody: 5:37pm On Sep 15, 2013 |
Arsenate: If you are honest with yourself, you would know that one can live on 500naira (about 3 dollars) per day (15000 naira per month) in almost all Nigerian towns. I strongly doubt if one can survive with 3 dollars per day in the most American cities. |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by MrMann1(m): 5:37pm On Sep 15, 2013 |
iyobs7: Wait and someone is even talking about house rent compared to USATrue yarns bro, production companies yapa, jobs plenty. Why would a naija over there be complaining, when americans are lazy to work, it makes work plenty for you, na ur money dey pile up every hour nah. |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by MrMann1(m): 5:41pm On Sep 15, 2013 |
adconline:Nice one joor, yankee's worst na naija best. Gbam! 2 Likes |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by pleep(m): 5:41pm On Sep 15, 2013 |
shymexx:Dude, economic theory has to be analyzed "ceteris paribus" All things constant. Assuming no other variables change, eliminating the minimum wage will almost certainly decrease the cost of living in America. This is for 2 main reasons: 1. The cost of producing products would go down. This is because of the decrease in wages expense for manufacturers 2. The price elasticity (price consumers are willing and able to pay) would become more rigid, simply because people would have less money to spend.... and so producers would be further incentivized to lower their prices. |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by oyunoyun: 5:43pm On Sep 15, 2013 |
manny4life: the tax is not that much, for that amount, the tax is like 8%, a student friend of my in a sch there, earns $880 per month, and after tax, is $811 and u will enjoy the dividend of the tax, unlike naija, i payed tax of 11% in a private company work in Naija, there is nothing working in naija, and that is a waste of 11%, if one earns that kind of money in US, and come back to spend it in naija, it is 160 more better values!!!!!! |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by wonderfulson: 5:49pm On Sep 15, 2013 |
The nominal value of $10per hour is nothing compared to the real value. |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by MrMann1(m): 5:52pm On Sep 15, 2013 |
pappilo: 1 Like |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by Nobody: 6:00pm On Sep 15, 2013 |
pleep: Dude, economic theory has to be analyzed "ceteris paribus" All things constant. Assuming no other variables change, eliminating the minimum wage will almost certainly decrease the cost of living in America. This is for 2 main reasons: @ the bolded is where the problem lies. And since the manufacturers/companies have no say in government policies and, in that system of government - the government is run like a corporation to maximise its profits. Then it's going be the same vicious cycle. Minimum wage isn't really a bad thing since it's like an equilibrium constant. However, it's just too low compared to the cost of living. |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by ceejayluv(m): 6:02pm On Sep 15, 2013 |
innokings: no place like home broda and sister. right now am South Africa de cost living here is very high, am workin here do u knw much dey pay me month is 1200ran dat's 24000 bt do u knw de funny thins here, my house rent will eat de whole money every month which cost me 750ran dat's 15000naira now tell me hw much is saves after eatin nthing, pls dia's no place like home.We dey talk of Yankee here,,not Kwazulu natal... |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by ziccoit: 6:07pm On Sep 15, 2013 |
0lumide: I'll say this. I can feed my self with 250 naira per day in Nigeria. that is $1.50 That shit can't feed an insect in UK, Canada or US or any European country sef. Before reading your comment: Come home and I bet you can not live on 2500 Naira per day. Except if you drop from planet pluto and you don't get family to feed. After reading: Are you still "boboing" us that u are living on N250? 2 Likes |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by Originalsly: 6:08pm On Sep 15, 2013 |
Ha!....if you really want to compare....calculate in percentage....at the end of the month after all expenses...what percentage of your salary is left? ...if any. |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by Kayforly(m): 6:09pm On Sep 15, 2013 |
naija for lyf........................i love naija. |
Re: USA Minimum Wage Vs Nigeria Minimum Wage. by biomedixexcel(m): 6:12pm On Sep 15, 2013 |
You can't compare an American working in his country and receiving $10/hour to Nigerian working here with meagre #18500 per month! Let's use are brain. Kaki no be leather |
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