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Maybe im dumb? I never understood how the argument of raising min wages would raise prices and how its a reasonable argument? Obviously some of us never use the raising prices argument when we justifiably supporting the every year increase of the top 20% income earners wages.
The top people don't see their wages go up that much - they see their wealth go up. Big difference.
How can you not understand that raising wages will cause prices to go up?
If you ran your own business, and you chose to pay your workers more, do you not think that it is likely you would consider raising your prices of whatever your business offers?
Yet we have countries with a high minimum wage and low unemployment, your idea of Econ 101 needs to meet reality and have a long conversation about what your version of Econ 101 is teaching you.
The top people don't see their wages go up that much - they see their wealth go up. Big difference.
How can you not understand that raising wages will cause prices to go up?
If you ran your own business, and you chose to pay your workers more, do you not think that it is likely you would consider raising your prices of whatever your business offers?
Im not saying prices cant possiblely go up, what im saying is why is that a big issue relating to raising the incomes of poor or middle class workers. My point is since 79' we have seen the top 20% income earners wages increase 32X while everyone elses has stagnatted or decreased (relatted to inflation etc). But no Complaining of raising prices. Obviously they will be raising prices but because the top %s will want to keep the same or better profit margins and or keep the same crazy elivatted pay.
Whats even worse is the ones on CDF arguing against pay raises etc for the rest of 80% are not even in that top 20% Wlth/incom
BTW.......the "hoarders" of wealth and power will not be hurt at all.
Do you really think Obama would notice if his burger went up 25 cents???
Im not saying prices cant possiblely go up, what im saying is why is that a big issue relating to raising the incomes of poor or middle class workers. My point is since 79' we have seen the top 20% income earners wages increase 32X it was while everyone elses has stagnatted or decreased (relatted to inflation etc). But no Complaining of raising prices. Obviously they will be raising prices but because the top %s will want to keep the same or better profit margins and or keep the same crazy elivatted pay.
Whats even worse is the ones on CDF arguing against pay raises etc for the rest of 80% are not even in that top 20% Wealth/income bracket.
...because the business in question wont raise prices, and is apparently of the belief that the smaller number of people will somehow work harder.....
Sorry but this analogy is so foolish and repeated over and over that its just dumb.
Lets say you make Sub sandwhiches. If your cost of employment goes up that gets reflected in higher sales price, or greater volume from minimum wage folks being able to eat out. Most likely its a combination. So if your volume is going up, and your prices raise a little as well...you aren't letting people go unless you completely failed your economics class or common sense.
Not exactly. I make quite a bit more than minimum. There's a small deli in our business complex. About a month ago, they raised their prices significantly (no idea why). I went once, noticed that my meal was about 20% higher (I always order the same thing), and haven't been back since. That's quite a jump, and not a cost increase I'm willing to make. I could pay it, but I don't want to (it's not worth it to me). I can see that deli from my office window, and in the last month their business has dropped off drastically.
Yes, anecdotal. But speaks volumes about raising prices, and thinking folks are going to be ok with that.
You do realize that the difference between a front kiosk and a atm is actually not all that different? you push buttons, add/remove money on plastic cards.
The coming automation that cooks everything is more complex, but is being worked on quite well.
Exactly. I noticed the last time I went to McDonalds that the drinks are automatically filled, not just from the employee pushing the button, but by the order being placed on a computer.
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