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Inflation is independent to wages, if you lower wages that doesn't mean inflation will go down. The point is to keep up with inflation so that people don't fall behind like they are currently doing.
And that's fine.
But ALL Wages along the chain (except upper management, perhaps) would have to adjust upwards, would they not? To at least avoid wage compression.
In a world where skilled folk doing, say, medical billing are paid the same as the fast food window girl, there's going to be some upheaval.
aising wages at the bottom creates a wage price spiral. Ask Jimmy Carter about that.
You can't just change the starting wage and expect everyone else to just "suck it up" like some here think.
Start at $15 and that guy who worked for 2 years earning $12 is just going to "suck it up" ?
Really ?
If you bump min wage by $6 then it will trickle up just as it always has and prices will rise to compensate just as they always have.
History proves it. And the prices will rise more than the salary adjustment as history also shows.
Which leaves more watching their wallets than before.
This is what five years of Obamanomics have done to the country, people are so desperate for a job, they are trying to raise families off low skill, low wage, entry-level jobs.
In the era of Obama, jobs only teenagers traditional took, the adult job searchers are taking these dead end jobs, because they are desperate and scarping the bottom of the barrel.
An hourly wage of $15 is laughable as a minimum for fast-food cashiers, retail store jack-of-all-trade employees who ring up sales, stock, then corral the shopping carts, or any other entry-level job. At 40 hours a week, the salary would be over $31K annually. Let's not forget, they're clamoring for that plus more hours.
That won't happen. Should they get that hourly wage, you can rest assured there will be a lot more part-time employees at those establishments.
You can't just change the starting wage and expect everyone else to just "suck it up" like some here think.
Start at $15 and that guy who worked for 2 years earning $12 is just going to "suck it up" ?
Really ?
If you bump min wage by $6 then it will trickle up just as it always has and prices will rise to compensate just as they always have.
History proves it. And the prices will rise more than the salary adjustment as history also shows.
Which leaves more watching their wallets than before.
If you are near minimum wage when it goes up you either suck it up or your employer gives a cost of living raise.
An hourly wage of $15 is laughable as a minimum for fast-food cashiers, retail store jack-of-all-trade employees who ring up sales, stock, then corral the shopping carts, or any other entry-level job. At 40 hours a week, the salary would be over $31K annually. Let's not forget, they're clamoring for that plus more hours.
That won't happen. Should they get that hourly wage, you can rest assured there will be a lot more part-time employees at those establishments.
The automation being tested and used in Europe would get fast tracked to get installed here.
You'll end up with lots of self-serve places only needing few employees.
Profit margins of 4% don't give a lot of buffer to finance Utopia.
I wouldn't be surprised to see these places turn into drive through only places.
Look at Papa John's...get it delivered or pick it up..there is no order and eat in the store.
There's your future people.
No actually it can't. A doctor is not so easily replaced. Skills allow for differentiation and bargaining power.
If there is no demand for doctors, there are no jobs for doctors, thus it is also about supply and demand. So yes, your scenario works for all employment.
If there is no demand for doctors, there are no jobs for doctors, thus it is also about supply and demand. So yes, your scenario works for all employment.
Lol your posts are based on some alternative reality. There is demand for doctors though. Trust me I know doctors in high demand specialties such as orthopedics can name their price. I also know what happens when they leave a hospital. Admissions decline and the downstream revenue tanks. They are not so easily replaced. It usually takes 12-18 months to find a suitable replacement. A fast food worker doesn't show up Monday an owner can have a new one by Friday.
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