$15 an hour makes no sense (Orlando, financial, wage, job)

[mysticaltyger]

Originally Posted by CK78

I'm not saying don't try. I'd never advocate that. But what I am saying is that people like you think there's some magic bullet.

I think those who support at $15 wage are the ones who think there's a magic bullet.

[mysticaltyger]

Originally Posted by ram2

It is subsidized. However, college administrators spend money on fancy new football stadiums instead of using the money to help students.

Agreed.

And even leftists like Elizabeth Warren admitted that college costs were bloated because of stuff like this in her book The Two Income Trap.

[mysticaltyger]

Originally Posted by hodgemo2

I'm looking to hire a gas station attendant at $15/hr. Who do you think I will hire for the job; the person who went through law school, passed the bar but never worked as a lawyer...or the person who got a high school diploma?

Actually, that's probably a bad example. Employers don't like to hire people they consider overqualified because they think the person with lots of credentials will be unhappy working at a gas station and quit.

[mysticaltyger]

Originally Posted by cindersslipper

Ok Tax Phd...we both know that is irrational and immature Economic thinking. We both know (or should) what bell curves are..

What's true for large amounts of handouts also applies to smaller ones.

I suspect that handouts helped Australia's economy at the margins, in the short run. But then, Australia has very low debt, unlike most other developed countries....so it could easily afford the handouts. America and most other developed countries already had pretty high debts going into the GFC, so it is less able to hand out money.

[mysticaltyger]

Originally Posted by GeoffD

The reality is that health care is parasitic on the economy. .

Agreed. And the tragedy is we wouldn't need so much health care if we took better care of ourselves, as I posted upthread.

[mysticaltyger]

Originally Posted by TaxPhd

If you expect that there should be some sort of safety net for these people, it should be the responsibility of the entire country, not just business owners.

I also think part of our problem is that the social contract needs to be a 2 way street. We used to expect that people get married before they had kids. This had the effect of keeping many people out of desperate situations. Now, anyone who points out poor choices that lead to desperate situations is "the bad guy", yet so many will wring their hands about poverty and income inequality.

[mysticaltyger]

Originally Posted by ZachF

Walmart is cratering because they are an increasingly poorly run company whose business model is beginning to die. Costco is doing fine and they pay their workers a lot more than WM

And I'm pretty sure Costco has fewer employees per $1 of revenue generated. It's a high wage business model, but it comes at the cost of fewer employees. The same will happen if the minimum wage is jacked up anywhere near $15 an hour.

[mysticaltyger]

Originally Posted by rruff

It actually makes no sense for employers to be against it. It won't effect their bottom line on average. .

It definitely will not "effect" it, but it most certainly will affect the bottom line of those who have their hours cut or lose their jobs or have to pay more for basic necessities.

[mysticaltyger]

Originally Posted by johngolf

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.

Which means all the employees they had are out of work. And this is what happens.

[mysticaltyger]

Originally Posted by 2sleepy

Oh please, studies from Berkeley are as valid as from any other University - where do you want me to look for studies, Liberty University?

If somebody cited a study from Liberty University you sure as h*ll would diss the source (and you're lying if you say otherwise), so it cuts both ways.