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If a business cannot make it on paying their employees a minimum wage of $15 per hour then the he!! with them. Let them go out of business.
First, a question: How much business experience do you have? Ever owned one? Managed one? I think we all know the answer from your post...
Second, if the minimum wage is raised to $15, most businesses will find a way to pay it, or they'll find a way to do with less labor. Be careful what you wish for, as it probably won't end up the way you want it to.
If income is redistributed TO the poor, it would have to be redistributed AWAY from someone else. How does that happen without cutting anyone's profit?
It doesn't cut business's profit, it reduces the real income of people (all people) who are not working poor.
It doesn't cut business's profit, it reduces the real income of people (all people) who are not working poor.
This is your original post that I responded to:
Quote:
Originally Posted by rruff I'm not a $15/hr proponent. I think $10-$12 makes sense. But raising the MW wouldn't cut anyone's profit. It just effectively redistributes income to the working poor. That's it.
When you raise minimum wage, it has to come from somewhere. How does that not cut the business' profit?
Business profits don't change. Real prices rise for those who are not the working poor, and real prices decline for those who are.
Actually, real prices rise across the board. The working poor are going to pay the higher prices on the exact same items as everyone else. This is why raising the minimum wage has never resulted in a long term increase of living standards for the working poor, and why it never will. You could raise minimum wage to any arbitrary number that you want, but you can't change the fact that it is minimum wage.
Actually, real prices rise across the board. The working poor are going to pay the higher prices on the exact same items as everyone else. This is why raising the minimum wage has never resulted in a long term increase of living standards for the working poor, and why it never will. You could raise minimum wage to any arbitrary number that you want, but you can't change the fact that it is minimum wage.
So where have all these huge price rises happened when min wage was raised because I have not seen it. It would be nice if you actually could provide evidence of this Right now since min wage has not been raised in a while min wage is behind prices and needs to risen to catch up.
When you increase the Expenses variable with added labor costs, that surely cuts profit.
No. Aggregate consumer buying power (all those poor people with more money to spend) will increase the same as the increased costs. If businesses increase prices to offset the higher costs, there would be no change in aggregate real sales or profits. It all cancels out.
Actually, real prices rise across the board. The working poor are going to pay the higher prices on the exact same items as everyone else. This is why raising the minimum wage has never resulted in a long term increase of living standards for the working poor, and why it never will. You could raise minimum wage to any arbitrary number that you want, but you can't change the fact that it is minimum wage.
If you passed 1st grade arithmetic then I encourage you to take another look at that. Something along the lines of a person's wage going up 50% and prices going up 2%. I think they will be a lot better off.
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