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Above source is from the American Enterprise Institute, the AEI is a corporate funded group. Corporate think tanks like the AEI publish negative stories about min wage increases to persuade the public to oppose min wage increases (because raising the min wage decreases corporate profits.) https://www.sourcewatch.org/index.ph...titute#Funding
Yet, if that is so true why aren't companies seeking to make higher profits flocking more to states like Mississippi where the min. wage is $7.25 but with an unemployment rate of 4.5%, while in Nebraska the min wage is $9, yet unemployment rate is only 2.8%.
I was in a McDonald’s here in L.A the other day . I noticed they had two self service kiosk machines .
I went to the worker at the counter to order and he actually went over to the kiosk to place the order. Seems they are trying to train customers to start using the machines to order .
I don’t blame them . Minimum wage will be $15 hour here in 2020 .. just around the corner .
Unfortunately the mom and pop shops , family run type places won’t be able to afford those automation machines like the big chains .
This will hurt small business . But the pro $15 crowd doesn’t care .
I’ve had lots of debate on here and the pro crowd feel that if a business can handle a huge minimum wage hike they deserve to go out of business and they don’t feel sorry for them .
Vast majority of small business owners aren’t rich . Many have their life savings invested in their businesses . They are providing jobs for people . They take all the risk .
So to you, it makes far greater economic sense for the government to cover low wages by continuing to offer subsidized housing, food stamps and Medicaid. But too bad how so many people who oppose raising the minimum wage are also opposed to government welfare and want it cut.
So to you, it makes far greater economic sense for the government to cover low wages by continuing to offer subsidized housing, food stamps and Medicaid. But too bad how so many people who oppose raising the minimum wage are also opposed to government welfare and want it cut.
Nobody is forced to work for the minimum wage or any wage . There are people without a college degree making millions and billions .
People need to be responsible for supporting themselves . Maybe that means moving to a more affordable city.
Maybe it means another job . Maybe it means starting a side business with low or no startup cost .
A min wage job shouldn’t be a lifelong career.
Workers are already getting hours cut in these places where there has been a big hike therefore they might be back to where they were .
If it comes down to it the government has more money and resources than some small pizza shop or something. Like I said before most business owners aren’t rich . Most businesses are small businesses .
The media and liberals have tried to make this discussion all about McDonald’s and Walmart they’ll do fine they have thousands of locations outside of America .
What’s a “living wage” . I hear the pro min wage hike folks mention this a lot .
In L.A or NYC you can’t afford your own one bedroom on $15 hr .
It’s up to the individual to support themselves not the employer . Some people have more than one job , or they have a side business/hustle . Or a sugar daddy or sugar momma .. you get the idea .
Having only one income source for anyone is not a great idea . Whether you work at a fast food joint or you have a “white collar “ office job .
If any restaurants do close down, you can be sure others will open to take their place, that CAN adapt to the new pay rule, its not going to be the end of the world for restaurants! LOL
Have you looked at the annual profits for places like McDonalds, Burger King, Taco bell, etc? They can VERY MUCH afford to pay more on the hour.
Besides that, if I am a restaurant owner and in order to be successful, I must rely on people willing to work for so little pay, thats not really a successful business model imo.
We are not quite at the tech level for bipedal, humanoid robots that can move around and function just like a person. That kind of tech is still about 5-10 yrs away.
Nobody is forced to work for the minimum wage or any wage . There are people without a college degree making millions and billions .
People need to be responsible for supporting themselves . Maybe that means moving to a more affordable city.
Maybe it means another job . Maybe it means starting a side business with low or no startup cost .
A min wage job shouldn’t be a lifelong career.
Workers are already getting hours cut in these places where there has been a big hike therefore they might be back to where they were .
For many people reality is minimum wage or NO job.
Over age 40 good luck with that.
Over age 50 double luck with that.
Half of this country has an IQ below 100.
25% is below IQ 90.
You mostly dont make tech workers out if IQ 90 people.
FWIW Im not for $15 an hour. Probably in the $9.50 range. Not going to happen anyway. GOP congress + president would love to eliminate the min wage to lower business costs.
We just need to know that to some extent, automation is in competition with human workers... and if the cost of hiring people gets to high - automating the task becomes more financially feasible.
What’s a “living wage” . I hear the pro min wage hike folks mention this a lot .
In L.A or NYC you can’t afford your own one bedroom on $15 hr .
It’s up to the individual to support themselves not the employer . Some people have more than one job , or they have a side business/hustle . Or a sugar daddy or sugar momma .. you get the idea .
Having only one income source for anyone is not a great idea . Whether you work at a fast food joint or you have a “white collar “ office job .
I have been an executive chef of restaurants for 17 years so I know a lot about running restaurants. Raising minimum wage isn't that much of a burden to restaurants. Your costs go up, but so do the costs of all your competitors so the higher labor costs don't cause any individual restaurant to be at a disadvantage. Generally labor is about 30% of the overhead of a restaurant. Of that two thirds goes to cooks, dishwashers and management, all of whom make well over minimum wage in my market. The only minimum wage employees we have are servers. Server labor costs are about 7% of our restaurant's overhead. If minimum wage goes up by a dollar it can generally be covered by a small increase in revenues (2% to 3%). You raise the prices of a few of your drinks by 25 cents. Customers rarely notice. Obviously a $15 minimum wage will have more of an impact but our cooks already make more than that so it would probably be less than people think. We currently sell our sandwiches and burgers for $9 to $12 a piece. Back of the envelope calculations suggest that we could cover a $15 minimum wage by raising prices to the $12 to $15 range. On one hand, the professional classes would eat out less due to sticker shock, on the other hand the working class would probably eat out more because they would have higher incomes.
On the whole I think raising the minimum wage would probably be a wash in terms of net economic impact but it would probably rebalance the economy in ways that favored those who work in low wage service jobs (the working class) and hurt those that consume services like eating out, child care, hotels, etc (generally rich urban and suburban professionals). Working class wages are already through the roof in the Twin Cities due to labor shortages and that is what we are seeing here. The cost of services aimed at the upper middle class is up sharply, but people working service jobs have a lot more money in their pockets.
Last edited by Drewcifer; 05-15-2018 at 11:10 AM..
If any restaurants do close down, you can be sure others will open to take their place, that CAN adapt to the new pay rule, its not going to be the end of the world for restaurants! LOL
Have you looked at the annual profits for places like McDonalds, Burger King, Taco bell, etc? They can VERY MUCH afford to pay more on the hour.
Besides that, if I am a restaurant owner and in order to be successful, I must rely on people willing to work for so little pay, thats not really a successful business model imo.
We are not quite at the tech level for bipedal, humanoid robots that can move around and function just like a person. That kind of tech is still about 5-10 yrs away.
Most of those "restaurants" are franchises owned by individuals, not by the parent corporations, so their annual profits have nothing to do with the wages paid to the employees, so your opinion on their business model is based on inaccurate information.
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