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that why its being pushed by democrats
more money in the coffer
That would also be misleading and partly innacurate.
If you're single and under 65 years old and earn $12,000 or less per year, you don't fill out an income tax form at all. If you're a married couple filing jointly, you don't fill out an income tax form if you are earning $24,000 or less, combined.
In fact, if you are living under that threshhold, you -could- be eligible for an earned income tax credit - which is a "gimme" at the end of the year.
Except this doesn't happen. The shifts need to be covered regardless of how much the employee is being paid. So they might reduce the store hours, or close shop completely. But they can't make the cashier sweep the floor while he's making the burgers and change at the same time. The boss still needs people to perform these tasks, and he's still required to pay them.
Are you suggesting we do them a favor by cutting their wages so they won't have to pay more for taxes and goods? I see a flaw in your logic.
I said nothing about cutting wages.
My point is, when wages increase, so does the cost of living, to make up for what business must pay in increased wages.
A simple example would be:
You want to purchase a new tv, let's say from Best Buy.
The price is $ 649.99.
You plunk down you bucks, and buy it.
Three months later Best Buy , because of a state mandated minimum wage, now has to raise the price of that tv to $9 69.00 to cover what the increase in wages cost them.
The people that now got the raise, will have to shell out nearly one thousand dollars for the same tv that before the raise, was only $649.00.
Sure, they have more money to spend, but the prices are higher, so what have they gained?
Now, show me how raising the minimum wage benefits anyone.
This subject has been posted more times than I can remember, but when I asked why people support a rise in the minimum wage, the answer was always "because the cost of living is higher, and I can't afford things",
That sounds like a reasonably explanation, but, here lies the problem with that kind of thinking.
It doesn't take a brilliant mind to understand that if business has to pay more in wages, business is not going to take the fall, they are going to pass that cost on to the buying public, so where did these wage earners gain anything by getting a raise?
They will be paying more in income tax, more for goods and services, and everything will cost more, so how is raising the wage going to help them?
Bob.
you're aware of the difference between "Post Reply" and "Post New Topic"?
They don't raise the prices in the amount he/she now has to pay in higher wages. It doesn't happen. You're thinking of "what if" and I'm looking at "what is."
When minimum wage went up in New England some people made the same "the sky will fall" predictions. And none of those predictions came true. There were increases in the cost of doing business all along, before the minimum wage went up. This increase was proportionate to the overall cost of doing business - the cost of buying raw material, or import tax, export tax, delivery fees, property tax, rent, supply and demand, parking fees, city and local and state useage tax, utilities, etc. etc. Employee wages were an insignificant percentage of the overall cost of doing business, and that increase in wages did not change that percentage AT ALL.
Were I in the position of having employees, you can damn well know if I had increased cost for labor, my prices for my goods and services would rise to compensate my business for the added expense.
Any business I would own, would not be a charitable business, and most sensible business owners would take the same position as me, or they would be soon out of business.
1. The cost of doing business will increase with or without wage increases.
Wage increases cause the cost of a product or service to rise. That's basic economics and common sense.
Quote:
Originally Posted by Ghaati
2. In states where minimum wage is already higher than the federal minimum, there is less poverty, more people who WANT to work, more bills being paid on time, more money being returned to the marketplace in the form of purchases of goods and services.
In states where the minimum wage is higher than the Federal minimum wage the unemployment rate will be lower when the minimum wage is lowered. That's basic economics and common sense.
Quote:
Originally Posted by Ghaati
There is no problem with this line of thinking, unless you feel that more people being able to afford to NOT live in poverty, and more people WANTING to earn a living instead of subsisting on government handouts is a bad thing.
There is a problem with this line of thinking, unless you actually do some research you wouldn't understand. Just over 1% of workers, work for minimum wage. Most are teenagers. That you think a minimum is meant to be a living wage is silly.
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