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Old 12-29-2017, 04:11 PM
 
Location: Gilbert, Arizona
2,604 posts, read 1,008,965 times
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Quote:
Originally Posted by hitpausebutton2 View Post
Well we thought it was the talent, as they wanted 500 people to open, instead they got 300. Just they didn't want to pay anything above 10 bucks. The area they are in was high COL so they needed to pay around 15$ at min to even support the low end apt complex. We have Arkansas State, and lot of other collages that produce enough talent to meet the need, just they couldn't meet the pay to survive in the area. So they lasted about 2 years, just long enough to get their tax write off, and move their office to austin. HP just closed up shop period after they sold off the OS and pixi phone flop. Arkansas got some good talent, just no what you call big boy jobs.. or any decent tech jobs that produces great talents.
Sounds like they just wanted cheap labor to be honest. If they were really going to pay people market rate wages, I doubt it would be less than $15/hr.
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Old 12-29-2017, 04:34 PM
 
Location: Forests of Maine
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From my travels it seems that city living has always been more expensive than rural living has been.

Where we live now, we know many people who get along fine on SSDI income of $600 to $800/month.

One town near us has a 'per-capita' income of $8,000/year.

My pension is very close to Minimum-Wage and that is enough to support my Dw and I.
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Old 12-29-2017, 07:10 PM
 
Location: Washington state
4,680 posts, read 2,307,327 times
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I'm not surprised there are some cities where you can live on the minimum wage those cities are paying. However, my question would be: for how long?

This isn't just a today problem. It's going to be a problem tomorrow and the day after that and the day after that. I think when we look at these cities, what we're actually seeing are the last places where rents haven't outpaced pay - yet. I doubt very much that the minimum wage in these cities is going to keep pace with rising rents. Let's give these cities ten years and then come back and see how affordable they are.
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Old 12-29-2017, 08:37 PM
 
6,308 posts, read 4,774,343 times
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Quote:
Originally Posted by hitpausebutton2 View Post
I am sure this is for a single person with no kids..
https://www.msn.com/en-us/money/real...Bnb7Kz#image=1

Any thoughts?
My thought is that Cleveland belongs on the list.

With all the attention to the minimum wage, only 3% of American workers earn that little. That's because the minimum wage has intentionally been allowed to decline in real terms, so that entry level workers wouldn't be prevented by law from working.

If it rises to $15 an hour, get ready for 10% unemployment. $15 an hour is destructive enough of low-wage jobs in Seattle; think about the impact it would have in Toledo.
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Old 12-29-2017, 08:44 PM
 
Location: Northern California
436 posts, read 170,888 times
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Quote:
Originally Posted by hitpausebutton2 View Post
I am thinking they are putting those rent figures in some form. because i doubt you can find a $750 apt in Cali anywhere.. Think they are way off on some of those town..
Especially Sacramento About 25 years ago it was much cheaper but not anymore.

Even OAK PARK cleaned up and raised its rates
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Old 12-29-2017, 08:47 PM
 
Location: Gilbert, Arizona
2,604 posts, read 1,008,965 times
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Quote:
Originally Posted by Larry Siegel View Post
My thought is that Cleveland belongs on the list.

With all the attention to the minimum wage, only 3% of American workers earn that little. That's because the minimum wage has intentionally been allowed to decline in real terms, so that entry level workers wouldn't be prevented by law from working.

If it rises to $15 an hour, get ready for 10% unemployment. $15 an hour is destructive enough of low-wage jobs in Seattle; think about the impact it would have in Toledo.
The thought is... if you make the lowest members of society worth $15/hr, everybody will want a salary increase to compensate for the new value which (in theory) supposed to drive up wages as people demand higher wages and/or leave their jobs to seek better wages.

But regardless of what the minimum wage is, unemployment is not related to just wages. Unemployment is related to the demand for a specific set of skills. Those with skills not high in demand will eventually be put out onto the streets and those with valuable skills will earn much more money. On the businesses end, regardless of the minimum wage, their goal is always to maximize profits to benefit the shareholders by keeping costs low and prices high. The only thing keeping those 2 sides of the coin in check is the individual markets for the labor and the products they sell. So if you kept the minimum wage at $7.25/hr, McDonald's will still automate and reduce the number of positions they need to fill because... it just makes them more money. The ever growing advancement of technology will continue to infiltrate the economy and more and more jobs will become automated when it gets cheaper and cheaper to do so (which it will given how much it costs to produce electronics these days).

On the flip side though, automation is a good thing as it keeps prices for products low, but on the down side, everyone needs work to make a living and survive. That's where Uncle Sam comes in. Welcome to Capitalism.
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Old 12-29-2017, 08:56 PM
 
6,308 posts, read 4,774,343 times
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Quote:
Originally Posted by man4857 View Post
The thought is... if you make the lowest members of society worth $15/hr, everybody will want a salary increase to compensate for the new value which (in theory) supposed to drive up wages as people demand higher wages and/or leave their jobs to seek better wages.
You can't make the "lowest" members of society *worth* $15 an hour. You can pay them $15 an hour, but if they aren't adding that much value to their employers, they will quickly be unemployed and worse off than before you started.

There is no question that some people would benefit from a minimum wage increase, but a much larger number will be hurt. Economists have studied this for decades and, based on their conclusions, few of them are in favor of a minimum wage at all. A minimum wage is likely to hurt those it is intended to help.
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Old 12-29-2017, 09:07 PM
 
Location: Gilbert, Arizona
2,604 posts, read 1,008,965 times
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Quote:
Originally Posted by Larry Siegel View Post
You can't make the "lowest" members of society *worth* $15 an hour. You can pay them $15 an hour, but if they aren't adding that much value to their employers, they will quickly be unemployed and worse off than before you started.

There is no question that some people would benefit from a minimum wage increase, but a much larger number will be hurt. Economists have studied this for decades and, based on their conclusions, few of them are in favor of a minimum wage at all. A minimum wage is likely to hurt those it is intended to help.
Yes I agree, but that's what the government can do. It can regulate and influence the market. The fundamental problem is, too many people are stuck in jobs that has low demand. But how hard would it be to literally train a huge section of the working population to work in more valuable fields? (Assuming people can do it, as not everyone can be in those highly technical fields). The market will of course devalue those types of skills, but the only problem with that is, everyone needs to work for a living (i.e. eat and survive). If you let the market dictate wages, their wages will drop even below the minimum wage. (assuming it's abolished). It's a yin yang problem: how do you get people to get into jobs with higher pay and/or prevent people from going homeless/starve by stagnant wages and rising living costs.
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Old 12-29-2017, 09:52 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,114 posts, read 3,409,203 times
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Quote:
Originally Posted by hitpausebutton2 View Post
I am thinking they are putting those rent figures in some form. because i doubt you can find a $750 apt in Cali anywhere.. Think they are way off on some of those town..
I have a friend that rents 2 bdrm apartments he recently renovated for $750, so you are incorrect.
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Old 12-30-2017, 01:12 AM
 
Location: USA
6,171 posts, read 4,958,505 times
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Quote:
Originally Posted by rodentraiser View Post
I'm not surprised there are some cities where you can live on the minimum wage those cities are paying. However, my question would be: for how long?

This isn't just a today problem. It's going to be a problem tomorrow and the day after that and the day after that. I think when we look at these cities, what we're actually seeing are the last places where rents haven't outpaced pay - yet. I doubt very much that the minimum wage in these cities is going to keep pace with rising rents. Let's give these cities ten years and then come back and see how affordable they are.
I agree. My small home town in PA was like this. At one time it was really affordable for the people who lived and worked there mostly in low wage service jobs. Then it got an influx of long distance commuters from NJ/NY wanting a lower COL. More schools needed to be built, more utilities dug, the taxes went up, affordable apartment complexes were torn down and replaced with 1500 a month luxury units. Locals essentially priced out.
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