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Old 03-27-2014, 12:52 PM
 
Location: Live in NY, work in CT
11,300 posts, read 18,895,695 times
Reputation: 5126

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Quote:
Originally Posted by mlassoff View Post
I think overall it's probably good for the economy-- With so many people making minimum wage giving them a bit more to spend will go right back in to the local economy. Giving the boss another million doesn't generally impact the local economy as dramatically-- The boss won't buy more milk, or do more dry cleaning. Low income folks, however, spend all their money and it goes in to the community cashflow instead of a NYC investment bank.

I don't know how many of you besides me actually own a business-- but unless you're working in fast food or retail, you probably don't have many (if any) minimum wage employees. I don't have any...

I can't imagine what it's like trying to live in $10.10 an hour. I imagine there are a lot of things-- Dental visits, meals out, Starbucks, insurance, investment, etc-- that are not part of the equation for someone making this low wage. I'm sure it's even more dramatically bad at $8.75. I don't begrudge these people a small increase in their wage.

It's long overdue. It's not going to solve any big problems, but, the gap between rich and poor keeps getting bigger and it's not at all good for the country.
Quote:
Originally Posted by mlassoff View Post
I'd be the exception to that rule.

It makes sense to me that the minimum wage should have kept up with the COL. I believe strongly that no one working full time in the US should be in poverty.

I don't pay anyone minimum wage, so maybe this doesn't effect me-- I don't run a McDonalds or a Walmart. Speaking of Walmart-- This company is owned by the richest family in the world-- and employees more minimum wage employees than any company in the world. Is there some inequity there?

I'm a little tired of subsidizing the Walton family via food stamps and other programs for their workers... You should be too.
Well said (wouldn't let me rep you)

Quote:
Originally Posted by RogerAnthony View Post
I think that there should be some exceptions to the minimum wage law. Businesses with a smaller number of employees, say fewer than 6, should be exempt. Also, anyone under age 18 should be exempt from being paid minimum wage. This would make it possible for small, locally owned businesses to survive and for teenagers to get work experience.
Only problem is, then many employers will only hire teenagers to be cheap.....

Quote:
Originally Posted by Mike 75 View Post
If raising the minimum wage is so good for the economy, why stop at $10.10? Why not $20 or $50 per hour? If it has no effect on employment, this should be a no brainer, right? But that's not the case, as the Congressional Budget Office report shows. http://www.cbo.gov/sites/default/fil...inimumWage.pdf
It will have an effect on employment, and there will be less low paying jobs as a result.
If it's so "bad" for the economy, why not lower it? In fact, why not even have a minimum wage? There's a thing called "equilibrium", and the idea for raising that is inflation raises that equilibrium just a little over time....

Quote:
Originally Posted by mrgmrg View Post
Aren't the majority of people earning minimum wage teenagers, part-time workers, college students on summer jobs, and the like--not people supporting a family or themselves? Given that, I don't get why this would have some drastic impact on quality of life for adults and families. I'd be much more in favor of some kind of law that requires benefits, 401(k) contributions, etc. for permanent employees starting at a much lower hours-worked limit so that companies like Wal-Mart can't avoid their obligations to their employees by keeping them below 30 hours per week.

There are certainly worse things than increasing the minimum wage, but there are better policy changes to be made, too.
Maybe in 1975 or so, but in this "race to the bottom" economy far more are working people with families, and middle aged people than you think.

Also, there is a law that requires benefits at a lower hours-worked limit, it's called Obamacare, I see businesses are just falling in line to follow that and are not trying to get around it

And finally, do you really think someone even earning $10/hour has a lot of money left over to put into a 401K? (BTW, these are nice ideas though).

Last edited by 7 Wishes; 03-27-2014 at 01:03 PM..
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Old 03-27-2014, 01:07 PM
 
2,695 posts, read 3,491,723 times
Reputation: 1652
Quote:
Originally Posted by LRPct View Post
Still waiting on those $15 McD burgers.
Almost $15 but this isn't coming to USA time. They offer $12 hamburgers.

McDonalds same store sales slid way down YOY. You will be seeing more machine cashiers in the future.

http://finance.yahoo.com/blogs/talki...180322671.html
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Old 03-27-2014, 01:24 PM
 
Location: Live in NY, work in CT
11,300 posts, read 18,895,695 times
Reputation: 5126
Quote:
Originally Posted by Mr_250 View Post
Almost $15 but this isn't coming to USA time. They offer $12 hamburgers.

McDonalds same store sales slid way down YOY. You will be seeing more machine cashiers in the future.

http://finance.yahoo.com/blogs/talki...180322671.html
Uh, what burgers are $12? The most expensive I know of (burger, NOT meal) is about $6-7, and that's in the very expensive NY metro area. Maybe there's a $12 McDonald's burger in Manhattan?

Another thought on the minimum wage increase......there's a 3 year (yes 3 year!) time frame before its implemented, it's not like businesses are being told to adjust to it tomorrow......
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Old 03-27-2014, 01:32 PM
 
468 posts, read 709,092 times
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Quote:
Originally Posted by 7 Wishes View Post
And finally, do you really think someone even earning $10/hour has a lot of money left over to put into a 401K? (BTW, these are nice ideas though).
They should! 3% of income works out for a 35-hour, $10/hour worker to be $10.50 per week. That's one meal. Sure, if you're raising a family on that income you probably need that $10. But if you're raising a family on that income, you're also getting welfare and food stamps. I think it's completely reasonable and responsible for the poor to have access to 401(k)s with employer contributions.
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Old 03-27-2014, 02:21 PM
 
3,435 posts, read 3,947,273 times
Reputation: 1763
Quote:
Originally Posted by 7 Wishes View Post
If it's so "bad" for the economy, why not lower it? In fact, why not even have a minimum wage? There's a thing called "equilibrium", and the idea for raising that is inflation raises that equilibrium just a little over time....
I never said it was "bad" for the economy, but rather was pointing out several posters' unfounded assertions that a raise in the minimum wage would have no effect on employment, which is simply not true. If you support increasing the minimum wage, that's great, but let's be honest about the resulting negative impact on employment.
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Old 03-27-2014, 02:33 PM
 
Location: Florida
11,669 posts, read 17,956,053 times
Reputation: 8239
I need to make a correction here, if someone already hasn't.

Currently, the minimum wage in CT is already $8.70! Seriously, $10.10 is only $1.40 more, but doesn't need to be implemented until THREE years from now. I'm sorry, but business owners shouldn't be complaining at all. Can they seriously not afford to gradually increase the wage by just 47 cents per YEAR? REALLY??? Sigh....conservatives....
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Old 03-27-2014, 02:40 PM
 
Location: Northeast states
14,055 posts, read 13,946,605 times
Reputation: 5198
Quote:
Originally Posted by nep321 View Post
I need to make a correction here, if someone already hasn't.

Currently, the minimum wage in CT is already $8.70! Seriously, $10.10 is only $1.40 more, but doesn't need to be implemented until THREE years from now. I'm sorry, but business owners shouldn't be complaining at all. Can they seriously not afford to gradually increase the wage by just 47 cents per YEAR? REALLY??? Sigh....conservatives....

$348 if you work 40 hours now and $404 if it is $10.10 plus with the taxes and all that it addup to alot more.
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Old 03-27-2014, 02:44 PM
 
Location: Danbury, CT
267 posts, read 448,332 times
Reputation: 250
Quote:
Originally Posted by nep321 View Post
I need to make a correction here, if someone already hasn't.

Currently, the minimum wage in CT is already $8.70! Seriously, $10.10 is only $1.40 more, but doesn't need to be implemented until THREE years from now. I'm sorry, but business owners shouldn't be complaining at all. Can they seriously not afford to gradually increase the wage by just 47 cents per YEAR? REALLY??? Sigh....conservatives....
Idk what they arent understanding..
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Old 03-27-2014, 03:45 PM
 
2,695 posts, read 3,491,723 times
Reputation: 1652
Quote:
Originally Posted by nep321 View Post
I need to make a correction here, if someone already hasn't.

Currently, the minimum wage in CT is already $8.70! Seriously, $10.10 is only $1.40 more, but doesn't need to be implemented until THREE years from now. I'm sorry, but business owners shouldn't be complaining at all. Can they seriously not afford to gradually increase the wage by just 47 cents per YEAR? REALLY??? Sigh....conservatives....
It's .47$ per person/per hour. If you have 50 employees it all adds up. You're right business owners should plan for it. And in planning for it two things will happen, consumer prices will rise and/or they don't hire any other people.

So when prices rise on everything it offsets the rise of minimum wage so the end result is status quo.

So if I'm a minimum wage earner making $404 with my new raise which is $58 dollars more per week. But with that rise all minimum wages rates rise so for example you might see gas rise by a small percentage because the workers at the gas station need to be paid more. Food cost will rise because they have to pay cashiers more. So after all that price raising in all aspects of life, you still come out net zero.

Can I ask what small business you own?! Ooo wait.

And before you say the same thing to me. My family has owned many small businesses and my mom specializes in small business startups and currently has 5 business she consults. All that have a percentage of minimum and salary people.
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Old 03-27-2014, 04:09 PM
 
8,777 posts, read 19,868,328 times
Reputation: 5291
I keep hearing this refrain that the result will be fewer MINIMUM WAGE jobs.



I say.......GOOD!


Then, the "adults" that have made a career out of these dead-end jobs and "assistance"(Sec.8/WIC/etc.) will be forced to get training/certification to be employable. I *think* they'll make more than minimum wage afterward, and we won't have as much tax money sucked down the hole for social programs.
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