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All-In [28802]
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CA Gov: $15 min wage makes more sense politically than economically
Apr 6, 2016, 1:52 PM
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http://www.sacbee.com/news/politics-government/capitol-alert/article69842317.html
He's right about that, of course, but simply pointing out that there may be economic downsides to a policy doesn't mean that the political/ moral issues involved are unimportant. On the other hand, economics can't be ignored in situations like these because the unintended consequences may negate the expected benefits of a policy like a $15 minimum wage- would people really prefer that there were less jobs as long as they paid better, or would they prefer that there were more jobs that would pay whatever those who wanted them would accept?
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Orange Blooded [3590]
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It is pablum for the uneducated. Minimum wage jobs are
Apr 6, 2016, 2:02 PM
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where you learn how to work. How to be on time, how to take direction, how to interact with customers, etc. It is most always in an entry level, unskilled trade where there is not a large marginal profit. Minimum wage affects only about 5% of the working people. Many small companies who are operating on the edge will feel the negative impacts. In the aggregate, it will reduce employment, making it more difficult for entry level workers to find jobs. Think black unemployed youth.
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All-TigerNet [11640]
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Re: It is pablum for the uneducated. Minimum wage jobs are
Apr 6, 2016, 2:09 PM
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It also drives up wages for everyone. The lowest full-time wage earners just received a $16,000/year raise that was not earned.
Years ago I was a mechanic busting my ### in the heat getting boiling hot motor oil on me for $11-12/hour. You think that job would exist at a $15 min wage? Nope, it would be a $20+/hour job. Now you car repairs cost more due to higher labor rates.
It pushes up all wages, creating inflation.
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Hall of Famer [24777]
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So how much was the shop charging /hr. for you...? That's
Apr 7, 2016, 11:01 AM
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where the dysfunction lies...
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Heisman Winner [111617]
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Orange Blooded [3590]
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Then stop.***
Apr 6, 2016, 2:58 PM
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110%er [9174]
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{waves hands high in air}
Apr 6, 2016, 7:29 PM
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to keep the buzzards from circling balms dead carcass.
-DNT
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Rock Defender [53]
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Did you figure out the difference between the
Apr 6, 2016, 7:58 PM
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New York Post and New York Times yet?
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Hall of Famer [24777]
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You're messing with his "negative waves"....***
Apr 7, 2016, 11:04 AM
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All-TigerNet [13265]
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110%er [9174]
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DC current flowing out of your walls
Apr 9, 2016, 1:59 PM
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and shorting-out your brain obviously. Please, you are young..
-Tesla
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Heisman Winner [119713]
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The libs will be on here shortly
Apr 6, 2016, 2:23 PM
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to change the subject somehow...
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All-In [42170]
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Yeah, I just don't get how...
Apr 6, 2016, 4:29 PM
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Folks pushing for the $15 minimum wage think it's some kind of magic fix.
Okay. So now you're making more money. Guess what's happening to prices all around you, particularly for products sold by businesses that hire minimum wage employees?
Let's take Wal-Mart for example. Wal-Mart employees tend to blow a lot of their paychecks on groceries at their job since the prices are cheap and they're already there when they get off work. Naturally, what's Wal-Mart going to do if they have to pay their employees more? Probably raise prices, which screws over those employees.
Be on the look out for rollback economics lessons.
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Hall of Famer [24777]
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WalMart employees cost the US $6.2 BILLION last year
Apr 7, 2016, 11:10 AM
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in public services last year while the Walton's family aggregate makes them the wealthiest in the US. Yea, let's subsidize the Walton family.... Go capitalism, go capitalism, go capitalism!!! You might want to look under the covers before you climb in bed.
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All-In [34108]
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Re: Yeah, I just don't get how...
Apr 7, 2016, 11:14 AM
[ in reply to Yeah, I just don't get how... ] |
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WalMart's entire appeal (aside from the experience of visiting a zoo of human deformities) is its low prices. If it raises its prices, it will begin to lose its primary competitive advantage. If it raises prices just a little, so as to maintain its advantage, I'd be willing to bet that the net gain for its employees would be substantial.
Meanwhile, minimum-wage earners are likely to spend almost all of their income, which creates a net gain in GDP, as opposed to those more well-off, who can afford to save and stockpile, which does not benefit the economy. Hence the importance of sending liquidity to the bottom income earners.
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Hall of Famer [24777]
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Precisely... Product over 'paper'.... +1.***
Apr 7, 2016, 11:38 AM
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null
Message was edited by: SOLOS®
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All-TigerNet [12269]
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Re: CA Gov: $15 min wage makes more sense politically than economically
Apr 8, 2016, 8:55 AM
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Interest rates are very low so that marginal cost has a high NPV. Therefore, jobs will be slashed nigtime and more unskilled workers who made bad life chices will be on the dole.....go DNC!!!
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Hall of Famer [24777]
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Jobs have been getting slashed for the last 30 years...
Apr 8, 2016, 10:39 AM
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Tinkle down economics was just that and average wages have been stagnant the whole time. Meanwhile, the NY cabal and others have absconded with most of the profits...
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