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And maintenance and all the utilities.
Most parts of the country it's cheaper or about the same to own.
FHA allows people to put 3% down.
Renters usually have to pay all the utilities, either directly or indirectly. Separately metered water is now standard in new apartment construction; older buildings with master meters typically bundle the water cost into rent or add a surcharge for pro-rated usage, which is rarely a good deal for renters. When multiple people share a common utility bill, there is huge incentive to consume and minimal incentive to save: currently I live in a six-person house. Every drop of water I use costs me 1/6 of the unit water cost, and every drop of water I conserve saves me only 1/6 of the unit water cost. That's a great formula for running up utility bills.
i.e. why not give low-wage workers the wages they earned but did not receive
The wages low-wage workers earned are the ones they agreed upon when they took the job. In the overwhelming majority of cases they receive them.
Quote:
Originally Posted by freemkt
BZZT! Landlords are not charities and they price their rents to recoup ALL their costs, including taxes, PLUS enjoy a level of profit they consider acceptable.
That doesn't mean a renter pays property tax, one cannot arbitrarily link business expenses to sources of revenue and claim it is a direct transfer.
I have a Netflix subscription, but I sure as hell don't go around claiming I rent bandwidth on Amazon Cloud Services since that is an expense of Netflix related to my video consumption.
They might have closed the store because of the minimum wage increase, but if so, why did these other stores in California close?
CALIFORNIA (CLOSING JAN. 28):
5502 Monterey Hwy, San Jose $10.30
151 E 5th St., Long Beach $10
8400 Edgewater Drive, Oakland $12.25
4101 Crenshaw Blcd., Los Angeles $10
2408 Lincoln Ave., Altadena $10
6820 Eastern Ave., Bell Gardens $10
701 W Cesar E Chavez Ave., Los Angeles, CA $10
2045 E Highland Ave., San Bernardino, CA $10
12120 Carson St., Hawaiian Gardens, CA $10
Store closings were announced when state minimum wage was $9, but I listed it at the 2016 rate $10
The store I mentioned is on your list above at $12.55 now...
Minimum wage workers who remain employed are better off because of the direct subsidy received that they did not earn.
Limiting growth to a higher compensation rate by means of a higher minimum wage means that the same number of jobs added at minimum wage gets you a higher growth in GDP per capita.
Quote:
Originally Posted by SportyandMisty
Minimum wage workers who lose their jobs are not better off.
But they benefit from higher growth in GDP per capita.
Quote:
Originally Posted by SportyandMisty
Employers of minimum wage workers are worse off because of the tax increase (which, instead of going to Washington DC and then to the minimum wage employee goes directly from the employer to the employee).
But they benefit from high growth in GDP per capita.
Quote:
Originally Posted by SportyandMisty
Total GDP is lower than it otherwise would be.
Wrong. The FED will loan out enough money to get 5% unemployment. So if everyone is making more than $15hr instead of more than $7.25hr GDP will be bigger.
Quote:
Originally Posted by SportyandMisty
GDP per capita is lower than it otherwise would be.
The growth rate is higher in GDP per capita with increasing minimum wage.
manipulated wage growth outside of supply and demand is just bad. i see neighborhoods in nj, where there were true craftsmen doing work on homes, they're gone, replaced by barely competent union workers who don't give a flying F about how your home turns out, just get it done. when you have a free market of supply and demand, you get what you pay for. when you pay everyone the same higher minimum wage, competition ends and you end up with a lot of inferior quality.
The store I mentioned is on your list above at $12.55 now...
You are correct it's $12.55. But you did understand the point I was making, right? There is really no evidence that the Oakland store closed because of a $12.55 wage. I know someone who works for Regional Walmart security and they said the theft at that store was insane. But the thing that points to the fact that it wasn't just about the minimum wage is the fact that at the same time they closed that store, 153 other Walmart stores closed, most of them in parts of the country where the minimum wage is still $7.25 List of the 154 U.S. stores Walmart is closing
manipulated wage growth outside of supply and demand is just bad. i see neighborhoods in nj, where there were true craftsmen doing work on homes, they're gone, replaced by barely competent union workers who don't give a flying F about how your home turns out, just get it done. when you have a free market of supply and demand, you get what you pay for. when you pay everyone the same higher minimum wage, competition ends and you end up with a lot of inferior quality.
that is my point, they weren't paid minimum wage, but garnered premium pay because of their work. now that there is artifically set rising minimum wage or annual union wage inflation, the customer can't discern who is quality. and craftsmen leave the biz because they can't compete with the product of manipulated legislation. you end up with bad quality.
that is my point, they weren't paid minimum wage, but garnered premium pay because of their work. now that there is artifically set rising minimum wage or annual union wage inflation, the customer can't discern who is quality. and craftsmen leave the biz because they can't compete with the product of manipulated legislation. you end up with bad quality.
Oh, I see so the only "non-artificial" wage is the absolute lowest wage at which an employer can find someone to do the job.
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