quote:
Forget that group (although I'm in it); consider the $18-20/hr folks. Usually the way this works out, those guys are the ones that put in time at a relatively modest job, built up some seniority, and suddenly they find they're being yanked back to near minimum wage. All that time put in, and now you're right back near the bottom.

This is why raising minimal wage doesn't work. You need a tiered system, somewhere to move up into. If you raise that but don't bump the rest, you frick everyone else over. If you do raise everything, then it's devalued and cost of living rises.

what people don't realize, raising minimum wage actually makes EVERYBODY poorer- even the people that go from 7.25 to 15. sure, their paycheck doubles, but every single thing that you have to buy also has a significant cost increase. if you have to pay a dishwasher 15 bucks an hour, every single menu item will have a huge price increase, for example.

happy meal is 4 bucks now. it will be 8 bucks. econ 1001

then, as said, the people making 20 bucks an hour now won't get a raise and then they were doing OK, are now damn near poverty level.

raising minimum wage is fricking stupid

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Posted by concrete_tiger

Member since May 2020

6057 posts

Posted on 10/23/20 at 5:25 am to ksayetiger

So let’s say I employ 10 people at $10/hour.
Raise the minimum wage to $15/hour, and I’ll need to lay-off 4 people.

Just raising wages doesn’t magically increase the value of the job. The people making $15 will be the cream of the crop, and expected to do more.

Those 4 that were let go will have a hard time marketing their lack of skills, and will go on welfare.

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