re: The Real Fear of $15/hr Min Wage

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How exactly is minimum wage of 7.25 doable in 2021?

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Good thing for Johnny he doesn’t have to work at that wage forever, and would owe no taxes in the meantime. This is especially true if he works more than 40 hours a week, as most successful people do.

There actually are welfare programs to supplement him as well, no need to ignore this.

Raising the minimum wage, especially by 100% is disruptive and will shake out to increased prices and decreased labor demand. What happens to the people currently making $15/hr or twice the min wage? They may have worked 10 years to get to that sort of earning power and their job responsibilities would reflect this. Dictating what the minimum wage will be fixed nothing.

This all comes down to decision making, and the American people’s obligation to finance bad decisions.

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How exactly is minimum wage of 7.25 doable in 2021?

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Well, they get government benefits. Less than they will once they're unemployed because they don't deserve $15 an hour though.

If you're living off minimum wage, you need to get a second job. I have no problem with that. There needs to be an incentive to gaining marketable skills.

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I guess the question is: how did they survive the last time the minimum wage increased?

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Not all businesses did survive.

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So minimum wage isn't a problem? I'm guessing you feel like government bailouts of companies ran by executives that get millions of dollars in bonuses isn't a problem too right?

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Red herring fallacy. Now you've resorted to using something unrelated to minimum wage to make your argument, lol?

And no, government shouldn't be bailing out businesses that mismanaged their businesses (like banks during the credit crisis).

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It's 15 years out. None of these companies are Amazon or equipped to scale in robotics in any similar way. And even if they were, Amazon is still a massive employer of live flesh and blood humans.


EtA: but, I take your point.

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You are insane if you think automation is 15 years out. Hell, I bet trucking automation is less than 15 years out.

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You think welfare use is bad now? Lets see what happens when companies can pay whatever minimum they want to workers.

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They do. That's why your shite is made in China.

Moron.

Very few workers actually work for the current minimum wage.

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People having more money deters crime.

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Explain to me how a UBI doesn’t devalue the currency and doesn’t raise the bottom line on commodities and household goods enough to cause market reactions that render a UBI useless. Then explain to me how we aren’t right back to square one. Also, it’s mostly idle time and cultural rot (decay of the nuclear family, as one example) that leads to higher crime. Nobody making 22,000 a year for nothing is going to be deterred from going out and causing trouble. This solves nothing as it relates to crime.

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and it wouldn’t cause much inflation if done properly

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Properly in this context is pretty vague. Please flesh it out.

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Plus people working somewhat less is a good thing. People should have more time to do things they enjoy.

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People making better decisions and constructing a cohesive and uniform social fabric is better. But you’re right, we’re too much of a go getter society right now.

What it all comes down to me and what bothers me is at the end of the day you have people living in poverty trying to make ends meet for the basic necessities even here in this great nation USA. I don’t care if the minimum is raised or not but the fact we have those in poverty should tell you something about our system. Obviously something needs to be done it’s not right for people to starve or not have shelter it’s downright embarrassing. And I’ll be the first to admit I need to be active in assisting those who need help because it’s fallen by the waist side for me personally bc of things I take for granted. That’s something I need to work on going forward

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Executives won’t be affected but you are kidding yourself if you think this only impacts the very bottom of the scale.

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I agree, and never said otherwise. Fact remains that a significant amount of people on this board think that moving to $15 minimum wage will double the cost of goods. Going to completely ignore management, overhead, shipping, profit, etc. Plus the fact that a portion laborers already make over $15/hr. It's ignorant.