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Minimum wage is not supposed to just be for entry level jobs kids have and for seniors.
Minimum wage started because employers were taking advantage of employees, preventing them from being able to raise stable families and put food on the table. Minimum wage is supposed to guarantee a minimally decent standard of living on which to--wait for it--live a decent life.
Lots of people on this board have been drinking the corporate kool-aid, I see.
This is old history going back 100 years. Employers have always taken advantage of employees.
That is why unions and minimum wage was enacted. Once everybody started earning a bit of a living its nothing
but a race to the top. More money leads to higher costs. It is an ugly vicious circle.
Why do you think many older folks work beyond their retired years rather than handing the reigns over to some young buck eager
to start a family? There are so many older folks working to maintain their standard of living screwing the young kid from getting a job and keeping the employer happy so he does not have to invest time retraining a new employee.
On top of that add more non working folks and those with no intentions of working to this picture and you have a grim picture
for everyone with a dream of becoming wealthy in New York.............Not gonna happen................
This is not a game. Only the strong survive. Eat or be eaten.
You better have smarts. You better be willing to work,work,work like a dog. You better be able to sacrifice much time out of
your life if you want to earn the real title of a middle class New Yorker.
Last edited by Mr.Retired; 12-31-2018 at 04:23 AM..
if you are paying your own health insurance you better do better than 100k in nyc pretax.
minimum wage is because the markets value many of the things we can all do for ourselves with very little value . like tipping , it is a way to force a higher income then the job is valued at .
making money is all about doing the the things others can't or won't do for themselves
if you are paying your own health insurance you better do better than 100k in nyc pretax.
minimum wage is because the markets value many of the things we can all do for ourselves with very little value . like tipping , it is a way to force a higher income then the job is valued at .
making money is all about doing the the things others can't or won't do for themselves
I believe a young working couple with company offered medical couple can get by
comfortably on $100,000 a year but more is much better. I do agree that the amount of money is the sum
of what others can or can't or won't do for themselves.....................Nicely put.
people can make any amount work . we have people in nyc who live on ss .. we all back in to the lifestyle with what we have . for some it may mean living golden girl style .
for others it can mean living in areas they really don't want to be in , or just plain living very stressful lives as they sweat each months bills . but in the end most make what they have work .
the question is though is it really the life they wanted or you want ? so the more money you have , the more choices you have . money may not always buy happiness but it sure buys choices at times .
This will cause employers to reduce headcount, reduce hours, reduce store hours, automate, cut benefits like sick days, and do whatever it takes to control costs and thus maintain profits. That's what company's do.
Plus, now, they'llalso increase the prices for their product/service which will make it even more difficult for low wage erners to buys things.
They already tried this in Seattle, and it was a disaster. Google it, read up on their experiences, and then learn from it.
Not being judgmental. Being realistic.
I'm not knocking any employment just the city that is so out of touch................
In a skilled trade or vocation you must meet continuous requirements.
You must sacrifice 4 years of vocational training day in and day out all on your dime.
You must continue the ongoing education just to keep your job.
There are city tests you must pass just to maintain your position and even more if you want to advance.
If you fail any of these courses you are out................
It's no different than being in the military.
Military PT must meet the minimum physical regardless of age,years of service or you are out.
Not many people know this. Not many people care to know this.
With more money comes that much more responsibility not less.
I started from these no nothing jobs as many others, and worked my way into a career.
So can everybody else but it comes at a very high cost. You are not handed $30 bucks just because you are nice.
There is a huge,huge difference between skilled and non skilled trade.
Skilled trades are much harder than tending bar,washing dishes, serving food, packing or working a register.
If you don't mind minimal wage going to $15 an hour then don't mind skilled trades starting at $45............
With higher wages comes higher prices and eventually more layoffs as bosses condense work responsibilities
on to others just to keep competitive and without loss of profit. This happens across all fields of employment.
As a matter of fact I'm all for $15 an hour for minimum wage and won't be surprised if the skilled trades make
demands for higher pay soon. Just don't cry when your grocery prices double or triple................
I also started from these no nothing jobs. I was a parking lot attendant, pizza delivery driver, coach for a local rec center, counterperson/stock, and a substitute teacher before landing my full time job as a teacher. I agree that minimum wage jobs don't require that much skill. It's supposed to be for teens looking to gain experience and make a little money. I didn't have a child until I knew I was financially ready.
people can make any amount work . we have people in nyc who live on ss .. we all back in to the lifestyle with what we have . for some it may mean living golden girl style .
for others it can mean living in areas they really don't want to be in , or just plain living very stressful lives as they sweat each months bills . but in the end most make what they have work .
the question is though is it really the life they wanted or you want ? so the more money you have , the more choices you have . money may not always buy happiness but it sure buys choices at times .
gotta live within your means. separate wants from needs. That's how I managed to save some money coming from a poor family.
gotta live within your means. separate wants from needs. That's how I managed to save some money coming from a poor family.
actually any thing above basic shelter and food is a want ... but we may hate that lifestyle .
that term live be low your means really is a meaningless , in actionable term . it really does not make a lot of sense as is , since year to year most of our means varies . in fact as a retiree my means varies with markets , rates and inflation ..
it really is not means , but the ratio between discretionary and non discretionary income that is important . you obviously can't cut back in high expense years when the awe craps in life strike and everything is non discretionary .
for the same budget , which is within our "means " we could live in manhattan instead of queens . that would certainly be within means , but it would greatly reduce discretionary spending way to low to be considered healthy.
what you really need is a "good spending formula" which means something and can be acted upon . not a mantra that means little .
fidelity made a half hearted attempt at working with that idea .
Last edited by mathjak107; 12-31-2018 at 09:34 AM..
The issue is that a lot of jobs are only worth so much. Above a certain point, a couple of things happen. First, the business can't charge enough to make money after paying the wages. Second, the amount of labor savings from investing the capital necessary to automate those jobs out of existence makes doing so financially viable.
The jump from what was being paid in NYC before the new minimum wage rules went into effect, until now, is going to cost the employers a substantial amount. For a bigger fast food outlet, likey a few to several hundred thousand dollars a year. Given the rents in NYC, that could flip the business from profitable to unprofitable. And $250-500 grand (assuming this is one years labor cost increase) would pay for a lot of equipment to automate away the jobs.
With this generation...where you gonna find kids to work these days? Most never had to work in high school now a days and if they work in college it summers only.
You want to eat, shop, enjoy leisure activities...well people need to work those jobs and you don't have kids lining up to fill them.
I remember when I tried to get a job in HS, no one would hire me. This was not THAT long ago but it wasn't yesterday either.
The other difference is now in HS, kids are expected to do everything for college. Extra classes, sports, other extracurricular things, etc. Because now we're all going to college, which wasn't the case in previous generations.
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I also started from these nothing jobs
