[sillydaddy]

DC Council proposes raising the minimum wage from $8.25/hr. to $11.50/hr.
That bucket of chicken just got a little more expensive.

[elklindo69]

Mickey D makes 10 billion a year in profits. I suppose the extra couple a bucks an hour will be cutting into their meager earnings...

LOL

[BilboBagend]

Good

[johnforbes]

Elkin's comments are shortsighted, but that isn't surprising because most people cannot see past the immediate effect of raising the min wage.

But what it does is get passed along to the consumer.

And it means more illegal aliens get hired.

So, in summary, it is more likely to hurt black kids in DC than help them.

But you need to be able to think about the overall economy to realize that.

[BilboBagend]

Actually, higher minimum wages will more likely shift the balance to less illegal aliens and more U.S. citizens and residents taking low paying jobs. Simply because the pay will be higher and more attractive.

Also, most pricing in the U.S. is NOT cost related. It is market based. The cost of providing 1 minute of telephone service worldwide is only about $0.000000000001 per minute and we still don't see that reflected in telephone minute rates which are typically more like $0.05 per minute. The costs in a successful restaurant are more related to other factors than either food or labor.

Yes, long term effects are being ignored, by teagaggers. But, they will make up short little shit filled sound bites. We are better off economically, both long term and short term, with a strong base of middle class laborers who have money to spend on goods and services.


A rational minimum wage for low income people who can support themselves with good decent income so they no longer need government support would be a strong capitalist solution. A system where the price of goods and services reflect the full cost of providing those goods and services and leaves the consumer to decide the value of purchasing such goods and services. A market based solution, rather than a government based solution like SNAP and welfare for the working class where prices are held artificially low and the consumer is given false non-free market based choices. A system where markets are managed by artificially keeping wages low and the price of goods and services artificially low. A system managed by large oligopolies keeping wages low and depending on government to provide the additional necessary support for low wage earners to survive in our complex society.

Or, as many teagaggers actually want, we could go back to a feudal system of oppressed peasants and wealthy lords.


Still, economic statistics prove that we all do better, including the wealthy, when we have greater income equality and less greed, creating a self sustaining and strong middle class and minimizing the abused low wage income problems.

[Grog]

Why is it that conservatives become shrill over mention of raising the minimum wage, lamenting that it will drive up costs to consumers, but they NEVER complain about "costs" when CEO types take massive salaries, bonuses and buy-outs? And yes, sometimes these lavish CEO paydays are in the form of options, but it's frequently cash and it's still a "cost" that will have to be passed onto consumers.

Silly? What does your analysis say?

[johnforbes]

Nothing shrill about discussions of the unforeseen consequences of raising the minimum wage.

Liberals often try to devalue contrary comments by dubbing them "shrill" or "whining." They are neither, but merely opinions at odds with Liberal Received Wisdom.

Having been poor, I love the notion of helping poor people, but raising the minimum wage may not be the best way to do it.

But liberals are similarly shortsighted with respect to raising taxes too. Revenues to the federal govt would actually increase if they cut taxes, had better GDP growth, and the IRS got smaller slices of a bigger pie.

[Grog]

Maybe you'll provide an analysis, Forbes.

Here's a few parameters;

Company A employs 100 people. Fifty of them make $8.00 an hour. Their wage is increased to $10 an hour.

The CEO of this company, Company A, pays himself, via the board he selected, a $25 million cash bonus because he can. Sales were flat last year and projections forecast that sales will remain flat for the next two years.

Which is a greater "cost" to the company? The minimum wage hike or the cash bonus?

[sillydaddy]

Actually, higher minimum wages will more likely shift the balance to less illegal aliens and more U.S. citizens and residents taking low paying jobs. Simply because the pay will be higher and more attractive. - Bilbo

Maybe, maybe not.

The problem has always been, and attraction to employers, is that illegals are willing to take jobs for less than the minimum wage. There will be employers that will resist having to pay, for example, a dishwasher $11.50/hr..... and that's where an illegal may be willing to do it for $10/hr which is still more than the $7.25/hr other areas are paying.

[Grog]

I assumed correctly; Silly doesn't want, can't touch that.

[BilboBagend]

The problem has always been, and attraction to employers, is that illegals are willing to take jobs for less than the minimum wage. There will be employers that will resist having to pay, for example, a dishwasher $11.50/hr..... and that's where an illegal may be willing to do it for $10/hr which is still more than the $7.25/hr other areas are paying.

sillyass


Great argument for a minimum wage.

[sillydaddy]

You have to admit, 11.50/hr for no skills, no education. What are the incentives to even finish high school? We are fast becoming a nation of janitors and waiters.

[BilboBagend]

Yep, people like sillyass will be taking the most disgusting jobs in the country so that he can get rich on $23,000.00 per year. For him, this means there is NO reason to get an education. We all have pour own ambitions and standards. Now we see sillyass's.

[johnforbes]

They say 1 in 4 jobs in America now is a low-skill gig.

Obama's misguided policies have exacerbated this problem.

[Grog]

I'll help you guys out

$8 x 40 = $320
$320 x 52 = $16,640

$10 x 40 = $400
$400 X 52 = $20,800

$20,800 - $16,640 = $4160

$4160 x 50 employees = $208,000

Which is a greater cost/expenditure? $208,000 or $25,000,000?

(It's not Final Jeopardy, so you can take more than thirty seconds. And you may use scratch paper and calculators.)

[RealJustme]

Grog, you're numbers make no sense plus you forget people receive time off and benefits that you totally ignored. I don't even know what your point is??? :shock:

[Grog]

Of course you don't understand.

No one expects you to.





Marco

[johnforbes]

Grog, come on.

You want me to do an economic analysis and submit it for your approval?

Be serious; you've never taken an economics course in your life.

As to finance, your net worth is probably 3k.

[elklindo69]

I find it interesting why costco wants to raise the minimum wage.

Perhaps because they pay their cashiers twice as much as walmart....

[BilboBagend]

I really hope that the little wannabe faux has never taken an economics course. Otherwise it would speak very ill of him.

[RealJustme]

Perhaps because they pay their cashiers twice as much as walmart....

That's a lie, Walmart cashiers are among the highest paid in the Nation, they already make more than the minimum wage D.C. is hoping for...they're just not union, thus the attacks by liberals.

What the unions don't want you to know about Walmart.

Starting pay for Walmart cashier is 10 an hour, they get paid holidays in 90 days. If you work on the holidays you get time and a half. If not you just get 8 hours. Vacation starts at 6 months. Sick Days and personal days accumalate in 90 days. You can enroll in health benefits after 6 months, plus you get a paid 15 minute break every two hours, as well as a lunch break that you have to clock out for. A 10% discount card, plus yearly bonuses.

Walmart blows the doors off of most other similar jobs.

[elklindo69]

Elkin's comments are shortsighted, but that isn't surprising because most people cannot see past the immediate effect of raising the min wage.

But what it does is get passed along to the consumer.

OH sure it does...LOL

If mickey d charges 5 bucks for a burger and BK charges 4. Who you think will get the business.

Unless you think people will pay more for one burger than they do for another. Can mickies charge more for a burger...haha

[elklindo69]

Perhaps because they pay their cashiers twice as much as walmart....

That's a lie, Walmart cashiers are among the highest paid in the Nation, they already make more than the minimum wage D.C. is hoping for...they're just not union, thus the attacks by liberals.

What the unions don't want you to know about Walmart.

Costco $15

Walmart $8.50

http://www.glassdoor.com/Salaries/wal-m ... KO0,16.htm
http://www.glassdoor.com/Hourly-Pay/Cos ... O17,24.htm

[RealJustme]

Elk providing links to sites set by the unions. That's like going to a site set up by the Teacher's Union to find out if they should get paid more money. Unions hate Walmart because Walmart is a right to work business. :lol:

Why not go directly to Walmart's site to see how much they pay?

The Average Walmart Associate Earns Above Industry Average. Learn More
http://careers.walmart.com/" onclick="window.open(this.href);return false;

[elklindo69]

Elk providing links to sites set by the unions. That's like going to a site set up by the Teacher's Union to find out if they should get paid more money. Unions hate Walmart because Walmart is a right to work business. :lol:

Why not go directly to Walmart's site to see how much they pay?

The Average Walmart Associate Earns Above Industry Average. Learn More
http://careers.walmart.com/" onclick="window.open(this.href);return false;

glassdoor.com is a liberal site. :lol:

walmart is a right to work business. :lol:

This shit doesn't get more crazier than that. :lol:

[johnforbes]

Elkin's comments are shortsighted, but that isn't surprising because most people cannot see past the immediate effect of raising the min wage.

But what it does is get passed along to the consumer.

There are any number of ripple effects, such as increasing the hiring of illegal immigrants.

But most people simply cannot see past the end of their noses.

Reporters interviewing students at Howard University found few students signing up for Obamacare, and many who said -- wistfully -- they had thought it would be free.

The same sort of silliness prevails re the minimum wage.