re: CBO releases new $15 min wage analysis: adds 58 billion to deficit, costs 1.4 million jobs

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What happens to the cost of said goods and services?

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They go up. But household income went up under Trump too and I didn’t see anyone bitching about higher prices for goods and services.

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Does a 15-16 year old kid in West Virginia deserve 15 bucks an hour as a first job mowing lawns for a lawn service?

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Why not? $15 isn’t the amount of money you guys are making it out to be.

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Another non-logical appeal to emotion fallacy from the dimwit.

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Says the guy using an ad hominem fallacy.

Y’all have been making emotional arguments throughout this entire thread.

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They go up. But household income went up under Trump too and I didn’t see anyone bitching about higher prices for goods and services.

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Amazing. The market managed increase wages under Trump by not selling out to foreigners.

The market works. See? You're so stupid, you're making an argument for the free markets by insinuating that none of us are for higher wages, lol.

We're against artificially higher wages that the market cannot support. And here you've demonstrated you're too stupid to see the distinction.

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Y’all have been making emotional arguments throughout this entire thread.

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Simple questions are hard!

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Y’all have been making emotional arguments throughout this entire thread.

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Simple questions are hard!

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Stonehog

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Can I ask you a serious question? Does it hurt to be as stupid as you are? Like, do you feel physical pain due to your stupidity? Seems like it would at least make your head hurt.

TIA

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Rising Unit Labor Cost in Your Small Business An increase in your small business’ unit labor cost means your productivity is decreasing. Productivity is the efficiency with which you generate output using certain inputs. The increase in unit labor cost may result in higher expenses compared to revenue. Unless you decrease other expenses or increase your selling prices to increase your revenue, your profit will decrease. Investigate the cause to determine how you can decrease your unit labor cost and regain your previous level of productivity.

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Raising the minimum wage has a number of serious and negative unintended consequences. Employers, especially small family and midsize businesses, will be disproportionately hurt by the extra costs incurred. The local neighborhood stores and businesses with razor-thin profits will be forced to raise prices to make up for the addition labor costs. With the increased prices, customers may elect to take their business elsewhere. Losing customers means losing income, which could result in the business having to layoff workers.

Large corporations with big budgets will weigh the increased labor costs and elect to invest in technology to displace workers. This trend will soon become prevalent in the food service industry, hospitality, retail, construction and manufacturing. Amazon recently opened up several prototype Amazon Go stores that are self described as “a new kind of store featuring the world's most advanced shopping technology. No lines, no checkout—just grab and go!” Fast food chains and large department stores will follow suit and implement self-service checkout to save costs.

We have a steady stream of immigrants coming into the United States, which is good news. However, as anyone who lives in a suburb recognizes, there are many people working at jobs that would ordinarily pay minimum wage, but unscrupulous business owners compensate people in cash far under the minimum wage. This practice closes the door to opportunities for young people, students and mothers returning to the workforce to get a job.

A rough back-of-the-envelope calculation of a typical restaurant that employs workers at $15 an hour exemplifies the unintended consequences of the minimum wage increase. If employees work eight hours a day each week, over the course of one year, the labor costs will be $436,800. This does not include insurance costs, benefits, payroll and other taxes. Most service-sector businesses have thin margins and an increase in this magnitude could close the company. If the restaurant raises prices too high, then they’ll lose their customers to other restaurants that either pay people under the table—skirting the laws—or deploy technology.

While some people may benefit with an increase in their hourly earnings, other employees will be let go to save costs. Employers may elect to cut hours across the board for everyone. Whichever way the employer goes, some of the workers will be in a worse situation. Seattle’s move to $15 an hour, a few years ago, resulted in workers given fewer hours and experiencing a net loss in pay.

LINK

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Says the guy using an ad hominem fallacy.

Y’all have been making emotional arguments throughout this entire thread.

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My ad hominem was a statement about you, not the minimum wage, and ergo is not a fallacy. You are indeed one stupid frick.

Now you're just demonstrating that you don't know what a logical fallacy is. Which proves my point.

Minimum wage is NOT a dumb idea solely because you're a moron. It's dumb for the other reasons I've put forth which you've ignored.

The facts remain.

1) You're a moron.
2) Minimum wage is destructive.

Those are not combined arguments. One does not depend on the other. Your incredible stupidity could indeed exist in a hypothetical world where minimum wage is a good idea and unicorns shite skittles from the air for the little kids to eat for free.

That's just not the case here.