Explain how a business can afford $15 an hour. (rating, education, working)

[urbanlife78]

Originally Posted by Ivorytickler

Who is subsidizing them? or suggesting they be subsidized?

Not being able to pay $15/hour doesn't mean they should be forced out of business.

So in your world view, when this business fails what happens to the owner and his employees who are now out of work?

They find work for a business that is successful and can afford to pay their employees accordingly. Basically the same thing that happens now for businesses that can't afford the current minimum wage to pay their employees.

We subsidize a business when they cannot pay their employees more than a poverty wage.

[urbanlife78]

Originally Posted by Ivorytickler

It's certainly not a low wage for someone who is unskilled and uneducated that's for sure.

Yes it is a low wage even for unskilled and uneducated people. In 2015, $31K a year is not much to brag about.

[pknopp]

Originally Posted by ContrarianEcon

Flat tax farts. They will just get it changed like last time.

Where did I argue for a flat tax? I didn't. I'll have to go with you doing this on purpose.

[pknopp]

Originally Posted by Ivorytickler

And you could by penny candy when I was a child. You can't judge buying power by one thing.

I think you need to slow down and read my reply in context to what was being discussed and then reconsider what my argument was.

[pknopp]

Originally Posted by Spot

Perhaps. But they need to work harder and earn it. Nobody's entitled to a free ride in this World.

Just because someone is making a lower wage doesn't mean they are not working hard.

Those at the other end of the process where I work make roughly a third of what I do but most of the time their work is harder.

[brownbagg]

Originally Posted by urbanlife78

Yes it is a low wage even for unskilled and uneducated people. In 2015, $31K a year is not much to brag about.

I'm doing pretty good on 31k, house paid for, trk paid for, no bills, a little retirement fund

[Ivorytickler]

Originally Posted by pknopp

I think you need to slow down and read my reply in context to what was being discussed and then reconsider what my argument was.

I did and I answered it with data showing what the buying power of minimum wage has been over the years instead of a particular example about how the price of hot dogs went up four fold and minimum wage didn't. A minimum wage job today has about 70% of the buying power of a minimum wage job at the peak back in 1968. That peak appears to have existed for one year. Currently a minimum wage job has about the buying power of the average for minimum wage over the years. I'm not sure what people are crying about. There have been many years where minimum wage had less buying power than today.

[pknopp]

Originally Posted by Ivorytickler

I did and I answered it with data showing what the buying power of minimum wage has been over the years instead of a particular example about how the price of hot dogs went up four fold and minimum wage didn't.

What I replied to had nothing to do with the buying power of minimum wage.

You didn't read it in context. I was enforcing the idea that yes....prices can and will rise with an increase in minimum wage.

Are you saying you disagree?

[Ivorytickler]

Originally Posted by pknopp

What I replied to had nothing to do with the buying power of minimum wage.

You didn't read it in context.

Yes I did. You just don't like my answer because it doesn't support your claim.

Let me refresh your memory


Quote:
Originally Posted by pknopp
I've noted my minimum wage experiences in this thread. How I bought a house and started raising my family on it. But like all stories it isn't complete.

At this time I could also buy hot dogs at the local dairy mart at 4/1.00. Minimum wage has slightly more than doubled since then. What's a hot dog cost? Can you buy even one for a $1.00 now? I can, maybe a little less. What is the increase in price?

[Ivorytickler]

According to the data I posted the buying power of a minimum wage job is between 70-75% of what it was at the peak in 1968. It's comparable to 1985 and 1997. The data only goes to 2012 which is problematic in that gas prices have come down and housing prices are still depressed so I'd hazard a guess that the buying power of a minimum wage job is actually better today than it was in 2012. Prices for a lot of things fall with gas prices. Perhaps even those hot dogs. You can buy my house for less than I bought it for in 1995. I just had it appraised for a second mortgage. I don't think minimum wage workers are doing that bad. Just a few years ago you could have bought a house like mine for half of what I bought mine for back in 1995. I was upside down on my mortgage for a while there.