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Every dollar a minimum wage worker receives must have come out of somebody else’s pocket, either small business owners or their customers. The money for a higher minimum wage does not come from thin air.
Tell that to Henry Ford. When he upped his workers pay by almost 100% he made a lot more money.
Seriously though, if a business has 50% of its cost of business as labor then doubling the cost of labor by increasing wages by 100% only requires a 50% increase in cost to cover it but the workers have 100% more money to spend, so they have 50% left over after the pay bump.
What the world is currently short on is consumer spending. Upping the minimum wage will get you that.
Tell that to Henry Ford. When he upped his workers pay by almost 100% he made a lot more money.
Seriously though, if a business has 50% of its cost of business as labor then doubling the cost of labor by increasing wages by 100% only requires a 50% increase in cost to cover it but the workers have 100% more money to spend, so they have 50% left over after the pay bump.
What the world is currently short on is consumer spending. Upping the minimum wage will get you that.
The story I got was two things One so he could work them harder without having them quit and the second was so that they could afford his products. (cars)
Small increases, no. To $15? Wal-Mart already has self serve check out lines. It's not going to be difficult for McD's to install machines that you simply input your order into. A computer screen would work well with nearly everyone now used to them.
As technology advances, things like that will happen anyway. The amount minimum wage is set at won't matter.
And minimum wage creates a minimum standard that they are allowed to pay an employee. Nothing prevents an employer from paying more than that if they feel it is justified for themselves.
And minimum wage creates a minimum standard that they are allowed to pay an employee.
There is no such thing as a minimum standard for the almost infinite amount of skill sets in the labor market.
Should all new cars from every manufacturer have a mandated min price ( or in your words "minimum standard")?
Labor is no different than any other commodity.
Quote:
Originally Posted by urbanlife78
Nothing prevents an employer from paying more than that if they feel it is justified for themselves.
If a business owner can determine a higher wage, why not a lower?
Do you think congressmen know more about the business owners business than the business owner?
You're acting like 25k on the 80s is the same as now? Gimme a break. Median cost of rent was 440, its now $800. Also you do realize several retail jobs have an emphasis on marketing and sales as well as other skills besides trained monkey work? I worked as a line production leader for $8.35 at a company. I wasn't just stocking shelves, i was in charge of all production on the grocery line, something I had to go through several weeks of training for and use several different computer systems for in order to keep accurate records and projections. I won't go into all the details because its intellectual property but it most definitely wasn't a mindless job, and if I suddenly didnt show up for work, the department would rapidly fall apart.
What is a "line production leader?" You're talking about a grocery store job?
My wife was the General Manager of a large, upscale Southern California department store, on the order of a Dillards. She began as a sales person, then area manager, after that, department manager, then was promoted to Assistant Store Manager. She was later given her own store. So, I am very familiar with retail sales, and all the various aspects of it. So don't try to shuck and jive me.
At any rate, what you did was obviously not "entry level," which is what the discussion was about; i.e., low skilled minimum wage jobs that are not worth $15/hr to the employer. The "trained monkey" jobs.
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