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Only if you mandate them to $15/hour.
A company has to generate revenue doesn't it ?
You just doubled their employee expense without doing anything to GUARANTEE them revenue to cover it.
They are profitable today because they know how to manage their money which includes salaries.
You don't get to decide who profits and who doesn't.
Really ? When you become boss of America then you can dictate that.
Venezuela is doing that right now.
Maduro is fighting the capitalist pigs and seizing control and dictating prices all for the "worker class".
Inflation there just hit 60% and he still blames the capitalist pigs.
The stores he seized and held deep discount fire sales are still empty as there were no profits left to restock inventory.
So sad..that refrigerator you bought may be the last one on sale you'll ever see.
I don't know your number either, nor do I know if they are accurate or not.
They're not even remotely accurate. yum makes a LOT more then that per employee. The numbers over 50K per employee-keep in mind the majority of those employees are part time.
He pulled the numbers out of the thin air, thought they made him sound knowledgeable.
Go to yum brands, look up their total employee count, then check their corporate profit numbers. the math is well over 50k per employee. they're also a favorite to use for people because they have some of the LEAST valued employees.....but keep in mind they're a combination of united states and overseas employees. yeah.
So they're a favorite to use to manipulate the "poor poor corporation" numbers.
So if that is the case, then we should move to the inflation adjusted price of 1938's minimum wage of 25 cents an hour, which is roughly 4.13 .
I mean if it was their intention that 25 cents is a living wage, and we adjust for inflation, 4.13 should be perfect.
Quote:
Originally Posted by greywar
I keep seeing the argument that minimum wage was never meant to be a living wage. So I researched it some. I've come to the decision that they are in fact wrong. In fact it was meant to be more then poverty wages....at a time when only one person was working in a family!
“No business which depends for existence on paying less than living wages to its workers has any right to continue in this country”
FDR
So I was worried...what if it was out of context? So I found what it was part of, heres a more complete qoute:
"In my Inaugural I laid down the simple proposition that nobody is going to starve in this country. It seems to me to be equally plain that no business which depends for existence on paying less than living wages to its workers has any right to continue in this country. By "business" I mean the whole of commerce as well as the whole of industry; by workers I mean all workers, the white collar class as well as the men in overalls; and by living wages I mean more than a bare subsistence level-I mean the wages of decent living."
Then they are operating an unsustainable business model and deserve to go bankrupt. We don't need business like this in America. They can move to other third world countries.
Clueless. So when big government doubles their wage costs it's the fault of the business they aren't making a profit? More prime liberal thinking there. Only government sucking the life out of taxpayers can afford to pay someone more than they're worth or the value they bring in.
Overall, I find these arugments on minimum wage to really miss the point
I don't see a lot of evidence that moderate changes in minimum wage will really have a big effect. . .but it will have some (higher prices/etc)
Yet - I find the idea that hiking a minimum wage is a bit like blaming the lifeboat the titanic sunk. After WW2 we had a lot of people who could could get paid a decent amount for little skill or ability. Europe was crushed, asia wasn't doing anything
Then the world moves on, there is competition. Americans have to compete for jobs. These low skilled people can no longer sign up for well paying jobs (they moved to mexico). So these people flood places like Wal-Mart or Yum Brands or whatever.
Those are the lifeboats. its not wal-mart's fault that the percentage of people working there to support a family has steadily risen for multiple decades. Its not wal-marts fault that people have no skills, no education, no ability to find another job.
I blame our ability to educate, and the people's ability to take initiative and compete globally
the last person I blame is wal-mart. I think they are the saint here. . .at least these non-skilled people can find 1 job
Clueless. So when big government doubles their wage costs it's the fault of the business they aren't making a profit? More prime liberal thinking there. Only government sucking the life out of taxpayers can afford to pay someone more than they're worth or the value they bring in.
It is the fault of the business if they can't afford to pay the minimum wage.
If they can't afford the increase on the minimum wage, they aren't running a sound business model and they deserve to go bankrupt. Please don't ask me what those employees would be doing after their employer goes bankrupt because I have no idea but raising the minimum wage makes me feel good.
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