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The problem with this is, it would take a fundamental change to the way business / markets work, where public companies are first and foremost responsible to their owners, shareholders. And small private owners aren't going to just operate in the red....if they don't make money to adequately compensate for their risks, time, and opportunity cost, they will shut down and terminate all of those employed.
Quote:
Originally Posted by Ecstatic Magnet
Yes, companies will adjust to protect profits. Welcome to the dawn of human commerce.
Who in their right mind wants to work for less than $7.35/hr?
People building skills on the job (for example, an apprenticeship program, career where salaries start low, or somewhere willing to hire someone with little programming experience to write code, little construction experience to do construction, etc.).
Young people building their resumes (demonstrating they have the basic real-world habits to hold a job).
People in school who need hours built to their needs rather than their employers.
People between jobs who want the money in the short term and have extra time to kill.
People between work and retirement who want the money in the short term and have extra time to kill.
Teenagers.
That's six groups right off the top of my head without significant need for brainstorming. Now, lock-out for these people isn't so bad at $7.25 except at the height of the recent crisis, but it probably would be at $15.
Holding a job in school or your early twenties for under $15/hour before tips or bonuses is a ubiquitous experience, and what you get out of it goes substantially beyond the cash.
Last edited by ALackOfCreativity; 02-17-2014 at 02:14 PM..
All anybody needs to do is model a small town with five or six families running everything and soaking all the money for themselves. Taking all the resources including the energy of the workers and hording into bank accounts , off shore investments, purchase's from distant lands and wild vacations chasing skinny teenagers around the Caribbean and other locations with the profit. If people were paid even 20 an hour , its not going anywhere but moving around. Money needs to move around inside not get vacuumed out and that is all that is happening with these pocket change wages, if min was 3 dollars an hour same-same. There may as well be a no wage rule alongside Co asking for charity. That is where its headed, don't sit at home all alone, were a big fun family, come on down and enjoy the day with us. Free hot dog and we go for darts and a beer if you like after work. Don't be shy now and join the team. And in no time there would be no wiener in the bun, and after that the only question left is who is bringing a wiener in for the owner who works so hard for everyone so they can enjoy the day. Don't think there is a min wage, its not even allowance. The worker begins the so called commitment @ min....all the worker is committing to is allowing the employer to soak whatever resources the worker has....in five years, no teeth, no clothes, no car, no nothing, so then the employer starts in on the family connection money for the teeth, the car , the clothes. It nothing but a beggar sitting on a bench with the hand out. If yuh can't even pay ten an hour, do it yourself beggar. Its all these guys that wanna be BG get as much as possible in order to dump the wife and continue the vacation . No secret, people know what people are up to. Everybody knows exactly who the villain is in todays world, the greedy guy who wants something for nothing. A bargain...its all about a bargain. People coupons that's all, clip away. IOW guess what, the job @ min itself should be a deductible item.
Last edited by alexcanter; 02-17-2014 at 02:25 PM..
First of all for many unemployed the prospect of making a minimum wage doesn't offset the cost of commute, lunches and hiring a baby sitter.
Why should I/we taxpayers have to pay for anyone. Just because they chose to have children, I'm asking; why are they having children if they can't afford to take care of them by themselves.
Most minimum wage jobs are for lower skilled. A stepping stone to gain experience. A motivation in itself
to want to move ahead, if that is what one desires.
I'm for reducing those on welfare by making them go to work a consecutive 5 years before they
even qualify for any type of assistance. You know, sometimes you have to know what it is like to be
poor, really poor, before you want to get ahead....
Federal minimum wage pegged at embarrassing $7.25 / hr actually prohibits people from finding gainful employment. How? First of all for many unemployed the prospect of making a minimum wage doesn't offset the cost of commute, lunches and hiring a baby sitter. It's simply does t make any sense to engage in any economic activity if the net gain is marginal. It's makes more sense economically to collect welfare and food stamps than to work for a minimum wage.
Now raising the minimum wage gives additional incentive to all those unemployed and makes it economically sound to hire a babysitter and go to work. Raising the minimum wage also removes many people from good stamp and other social services programs as they would no longer qualify.
Some critics say that raising the minimum wage would eliminate jobs but in the same time somebody HAS to do those simple, often manual jobs that earn the minimum wage. Somebody has to man cash registers and cut lawns no matter how high the minimum wage would go. People making more money would have higher disposable incomes effectively stimulating the economy through spending, thus creating more jobs.
What do you think? Please elaborate
don't really care, am retired at age 51, and no plans to ever work in any sector again except on my ranch.
Eliminate jobs? There would be no cashiers and lawns wouldn't be cut? Me thinks somebody would have to do these jobs no matter if for $5 / hr or $50 / hr. ?
For decades people mowed their own lawns or had their children do it, they'd likely go back to that rather than pay twice as much for it and cashiers are being replaced by self scanners all the time. The same thing would happen to every other job that isn't worth $15/hour to the employers. Only government can afford to pay people more than a job is worth.
Quote:
Originally Posted by risotto11
I don't think so. I think the level of employment in 2014 is 'lean and mean' and there is no 'fat' to cut out, no unnecessary payroll.
The employees have to stay no matter what.
You don't and never have run a business, have you. If a job doesn't bring in more than it costs to pay the employee it WILL be cut because it's losing the business money. A company can't afford to pay you $15 / hour if it takes you 1 hour to make a $10 widget. They can afford to pay you $7.25/ hour.
If business is so 'lean and mean' with 'no fat to cut' as you say how would you expect the business to survive? They certainly can't afford to pay an employee more than he brings to the company.
Create jobs? A company makes X for a product they produce. Normally it requires Y amount of employees to produce it. Profit margin is usually just north of 12 to 15% at least in the industry I work. The most expensive cost to producing a product is payroll/ benefits. Doubling minimum wage would then require an increase in other wages. Why seek to excel if there is no reward for being skilled? The OP is attempting to price themselves out of business.
How many burgers an hour must a burger flipper have to make in order to make a profit above his pay? Would the business owner then cut jobs and increase the burden on the remaining employees?
Say the average staff at Burger king is 8 per shift. Doubling the pay roll without doubling sales means a steep drop in profit. Cut staffing to say 5 to offset. Will 5 be able to deliver the expected quality and keep up with rush hour?
I can see how it might help the economy, but not create jobs. I can also see how smaller places with lower volume would go under.
So no I am against the $15.00 an hour minimum wage.
Federal minimum wage pegged at embarrassing $7.25 / hr actually prohibits people from finding gainful employment. How? First of all for many unemployed the prospect of making a minimum wage doesn't offset the cost of commute, lunches and hiring a baby sitter. It's simply does t make any sense to engage in any economic activity if the net gain is marginal. It's makes more sense economically to collect welfare and food stamps than to work for a minimum wage.
Now raising the minimum wage gives additional incentive to all those unemployed and makes it economically sound to hire a babysitter and go to work. Raising the minimum wage also removes many people from good stamp and other social services programs as they would no longer qualify.
Some critics say that raising the minimum wage would eliminate jobs but in the same time somebody HAS to do those simple, often manual jobs that earn the minimum wage. Somebody has to man cash registers and cut lawns no matter how high the minimum wage would go. People making more money would have higher disposable incomes effectively stimulating the economy through spending, thus creating more jobs.
What do you think? Please elaborate
Yes, but the "more money" does not grow on trees! The additional money extorted for the benefit of no-skill/low-skill labor comes out of the pockets of other people--the supposed stimulus of the higher wage is exactly offset by the economic drag from unnecessary costs paid by everybody else.
People who know anything about anything get this. But cynical politicians, usually Democrats, know they can inflame the ignorant with this minimum wage nonsense.
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