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Started By
Message
re: The Problem With a Federal Minimum Wage
Posted on 5/7/21 at 10:08 pm to starkvingrad
Posted on 5/7/21 at 10:08 pm to starkvingrad
and it shouldn't be
1
Posted on 5/7/21 at 10:12 pm to simonizer
quote:
and it shouldn't be
And you wonder why so many people are staying on unemployment.
Posted on 5/7/21 at 10:23 pm to AirbusDawg
The minimum wage is $0.
Posted on 5/7/21 at 10:27 pm to Dstllsu
quote:Who actually makes just $7.25/hr still? Politicians use that number like it's mandated for everyone not in a profession.
nobody is doing ok on $7.25 an hour even in rural Georgia.
Posted on 5/7/21 at 11:38 pm to starkvingrad
quote:
At that point if that's your earning potential you have problems the government can’t fix by arbitrarily raising the wage floor.
Posted on 5/7/21 at 11:39 pm to 0
quote:
And you wonder why so many people are staying on unemployment.
No one is wondering that.
Paying someone $15 to stay home when they aren’t worth $15/hr when they’re working isn’t a mysterious. unsolvable issue.
Posted on 5/8/21 at 12:21 am to armytiger96
quote:
An increase in minimum wage creates a shifts in the Labor supply and Labor demand curves which ultimately reduces the number of jobs available.
This guy economics.
In addition to loss of jobs, wage floors cause inflation. Whatever one is able to buy on $7.25 an hour now will be exactly what they will be able to afford after minimum wage is raised. Rents and prices on everything will rise to reach a new market equilibrium. If price ceilings are implemented to counteract this, there will be shortages because it won't be worth it to firms to offer goods and services.
Consumers will be worse off because of decreased purchasing power. Those making over $20 will be hardest hit by the inflation. The person that made $7.25 an hour will have the exact same standard of living at $20 an hour, while the person making more than $20 will not be getting a raise and instead will see an extreme decrease in their purchasing power. This "double the minimum wage" thing is a horrible idea.
People need to drop the idea that minimum wage should be a livable income. It isn't, and was never meant to be.
Posted on 5/8/21 at 12:39 am to starkvingrad
Do what? If they’re paying $8 and in business, then supply is meeting demand. If they pay a penny more, then they shouldn’t be in business.
Posted on 5/8/21 at 9:17 am to starkvingrad
quote:
Gas, rent, utilities... not going to happen. At that point if that's your earning potential you'd better hope you can walk to your job. Good luck paying for a car and insurance.
Because a 16 year old working a summer job just to learn a little responsibility and get a little bit of pocket change is worried about all that. Lol okay simp.
Posted on 5/8/21 at 9:33 am to AirbusDawg
That’s the problem?
The problem is that minimum wage laws ALWAYS lead to less employment. On top of that it’s only a means to protect union wages from low skill workers underbidding them.
And for the left to embrace laws that are absolutely rooted in racism is amusing.
The problem is that minimum wage laws ALWAYS lead to less employment. On top of that it’s only a means to protect union wages from low skill workers underbidding them.
And for the left to embrace laws that are absolutely rooted in racism is amusing.
Posted on 5/8/21 at 10:21 am to starkvingrad
quote:
Gas, rent, utilities... not going to happen
This is true. You know, some restaurants in Houston actually pay as low as $4.50/hr wage for their waitstaff, and somehow it's legal! Supposedly the low wage can be justified due to accumulated income through tips.
Such a wage is illivable in a hot climate where you can pay $300/month electricity costs, in an EFFICIENCY apartment in each of the months June through September. Don't tell me we don't need a national minimum wage increase.
Posted on 5/8/21 at 10:23 am to tarzana
quote:
You know, some restaurants in Houston actually pay as low as $4.50/hr wage for their waitstaff, and somehow it's legal!
Because most of their income comes from gratuities.
Posted on 5/8/21 at 10:26 am to AcadieAnne
quote:
People need to drop the idea that minimum wage should be a livable income. It isn't, and was never meant to be.
/thread
Posted on 5/8/21 at 10:28 am to AirbusDawg
INFLATION will kill the country no matter where you live and work!
Posted on 5/8/21 at 10:29 am to tigerterrace
True most people working at $7.25 are the young workforce who are still supported by their parents for the majority of living expenses. If anything the $800 a month the youth make working on $7.25 helps reduce the parents monthly budget. For those who are older working on minimum wage they are most likely receiving government assistance in some way shape or form.
The $7.25 was never to provide a living wage for people. Ultimately the minimum wage debate is a tax grab by the feds who will receive more payroll taxes from employers when they go to pay the match on employees fica, and Medicare since they are paying a higher rate with a wage increase.
It’s easy to say pay a higher wage to people but there are numbers behind that. For a business who may start employees off at $7.25 that have 40 man hours per day then any increase is a substantial cost on their bottom line. A minimum wage to $10.25 an hour would burden a business with $45,000.00 a year in additional labor, plus roughly $5,000 in additional payroll tax. Which means a business would have no choice but to raise their prices to offset such a huge cost in labor.
Thus defeating any good a minimum wage hike would do because now those same employees will be paying more for products. It’s a cycle that needs to be realized. Because if you keep doing this every ten years based on cost of living then in 2050 we will be talking about a $40 minimum wage, with the average Big Mac costing you $15.00. See where I’m going with this?
The $7.25 was never to provide a living wage for people. Ultimately the minimum wage debate is a tax grab by the feds who will receive more payroll taxes from employers when they go to pay the match on employees fica, and Medicare since they are paying a higher rate with a wage increase.
It’s easy to say pay a higher wage to people but there are numbers behind that. For a business who may start employees off at $7.25 that have 40 man hours per day then any increase is a substantial cost on their bottom line. A minimum wage to $10.25 an hour would burden a business with $45,000.00 a year in additional labor, plus roughly $5,000 in additional payroll tax. Which means a business would have no choice but to raise their prices to offset such a huge cost in labor.
Thus defeating any good a minimum wage hike would do because now those same employees will be paying more for products. It’s a cycle that needs to be realized. Because if you keep doing this every ten years based on cost of living then in 2050 we will be talking about a $40 minimum wage, with the average Big Mac costing you $15.00. See where I’m going with this?
Posted on 5/8/21 at 10:37 am to Catchfalaya
quote:
average Big Mac costing you $15.00
This won't happen, if other, more nutritious, cheaper food is available. Also the Big Mac, if it still exists then, will be of an entirely different composition: beef consumption will be illegal.
Posted on 5/8/21 at 10:42 am to tarzana
If employees are earning a $40 minimum wage anything will cost that much!
Posted on 5/8/21 at 10:44 am to AcadieAnne
quote:
Consumers will be worse off because of decreased purchasing power. Those making over $20 will be hardest hit by the inflation. The person that made $7.25 an hour will have the exact same standard of living at $20 an hour, while the person making more than $20 will not be getting a raise and instead will see an extreme decrease in their purchasing power. This "double the minimum wage" thing is a horrible idea.
Posted on 5/8/21 at 10:47 am to tarzana
quote:
This is true. You know, some restaurants in Houston actually pay as low as $4.50/hr wage for their waitstaff, and somehow it's legal! Supposedly the low wage can be justified due to accumulated income through tips.
When I waited tables the wage was $2.13 an hour. I probably averaged about 16 an hour after tips. And that wasn't a top of the line server gig. Some places can average over 20 an hour.
Posted on 5/8/21 at 10:48 am to tarzana
quote:
beef consumption will be illegal
People will murder your punk arse over beef. You can believe that.
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