Why stop there?

[aix_xpert]

Why stop at $20/hr. Why not go $50/hr. More is better right? Think of all that extra money in the economy. Millions of workers getting raises overnight. If there is no consequence for going to $15/hr, why would there be a consequence going to any other figure?

https://www.foxnews.com/politics/tlaib-calls-for-20-an-hour-minimum-wage

 

[imprimis]

Why stop at $20/hr. Why not go $50/hr. More is better right? Think of all that extra money in the economy. Millions of workers getting raises overnight. If there is no consequence for going to $15/hr, why would there be a consequence going to any other figure?

https://www.foxnews.com/politics/tlaib-calls-for-20-an-hour-minimum-wage

Maybe she'll lead by example and accept that as her pay. She's way overpaid now.

 

[Marshal Jim Duncan]

Related: https://babylonbee.com/news/sanders...per-hour-by-laying-off-everyone-except-bernie

 

[Medic007]

Related: https://babylonbee.com/news/sanders...per-hour-by-laying-off-everyone-except-bernie

Bwaaahahahahahahahaha!

 

[07pilt]

Why stop at $20/hr. Why not go $50/hr. More is better right? Think of all that extra money in the economy. Millions of workers getting raises overnight. If there is no consequence for going to $15/hr, why would there be a consequence going to any other figure?

https://www.foxnews.com/politics/tlaib-calls-for-20-an-hour-minimum-wage

I encourage you to adopt this philosophy for all of your life's pursuits.

 

[aix_xpert]

I encourage you to adopt this philosophy for all of your life's pursuits.

Who says I don't? But you dodged the real question. What's the limit? Dems seem to promote that $15/hr is good for everyone. So why wouldn't $20/hr be better? So why not $25? Why not $50? There must be a consequence of raising the minimum wage otherwise we would be morons to not raise it as high as imaginable.

 

[07pilt]

Who says I don't? But you dodged the real question. What's the limit? Dems seem to promote that $15/hr is good for everyone. So why wouldn't $20/hr be better? So why not $25? Why not $50? There must be a consequence of raising the minimum wage otherwise we would be morons to not raise it as high as imaginable.

Please next time you think a couple shots of whiskey might be good, go for 100 instead.

I am okay with raising the minimum wage as high as possible. I see no down side.

 

[Marshal Jim Duncan]

Or drink a minimum of 15 shots, as mandated by the state.

Please next time you think a couple shots of whiskey might be good, go for 100 instead.

I am okay with raising the minimum wage as high as possible. I see no down side.

 

[aix_xpert]

I am okay with raising the minimum wage as high as possible. I see no down side.

And to think I actually respected your economic perspective. Didn't always agree with it, but at least respected it. But this quote is AOC level stupid.

 

[MegaPoke]

And to think I actually respected your economic perspective. Didn't always agree with it, but at least respected it. But this quote is AOC level stupid.

That’s your pro-liberty bias talkin.

 

[07pilt]

And to think I actually respected your economic perspective. Didn't always agree with it, but at least respected it. But this quote is AOC level stupid.

What do you think the down side is?

 

[Bitter Creek]

What do you think the down side is?

Well, I would suggest that prices on basic goods and service might up which would disproportionately hurt those who live paycheck to paycheck, but that would just be a silly projection

 

[07pilt]

Well, I would suggest that prices on basic goods and service might up which would disproportionately hurt those who live paycheck to paycheck, but that would just be a silly projection

yeah but what about those paychecks? going up too.

 

[Medic007]

yeah but what about those paychecks? going up too.

How much do you think a Big Mac would cost if McDonalds cooks made $50 an hour?

 

[07pilt]

How much do you think a Big Mac would cost if McDonalds cooks made $50 an hour?

More definitely more. What if they made $7,250 an hour? (probably about $5,000 per BigMac)

 

[Bitter Creek]

yeah but what about those paychecks? going up too.

Paycheck goes up. Costs of basic goods and services goes up and at the end of the day, the quality of life for the minimum wage dude doesn't change but the value of the dollar has decreased and it just ends up being a trophy for a lib politician to put on the shelf.

 

[07pilt]

Paycheck goes up. Costs of basic goods and services goes up and at the end of the day, the quality of life for the minimum wage dude doesn't change but the value of the dollar has decreased and it just ends up being a trophy for a lib politician to put on the shelf.

Think about my mortgage tho

 

[aix_xpert]

Paycheck goes up. Costs of basic goods and services goes up and at the end of the day, the quality of life for the minimum wage dude doesn't change but the value of the dollar has decreased and it just ends up being a trophy for a lib politician to put on the shelf.

Yes, the guy at the very bottom goes up slightly. Unfortunately costs go up for everyone and everyone above minimum wage suffers for it. The guy making $20/hr is now much closer to the bottom than previously. His salary isn't going up and the costs around him are. So in order to reward those few adults who have failed to advance themselves in society (sorry, but if you are 30 and still making minimum wage and not disabled, then that's on you), we must punish everyone else who has. In addition, (as even Bernie found out), not all businesses can support the jobs at the higher rate. So by definition, some percentage of jobs will be reduced or eliminated. No McD's isn't going out of business. But the local Comic book store is. And the higher you make the minimum wage, the more small business jobs you eliminate as they lack the margins to absorb such cost increases. Pretty basic economics, and I didn't even talk about the increased motivation via higher business costs and improved ROI to automate and replace low-level workers.

 

[07pilt]

His salary isn't going up and the costs around him are.

How sure about that are you?

But the local Comic book store is.

Any evidence for that?

And the higher you make the minimum wage, the more small business jobs you eliminate as they lack the margins to absorb such cost increases. Pretty basic economics,

Do you learn in basic economics that the the extra money paid out in wages just goes into a black hole?

and I didn't even talk about the increased motivation via higher business costs and improved ROI to automate and replace low-level workers.

Do they teach you in basic economics what happens to the price of capital goods when the cost of labor goes up?

 

[aix_xpert]

Think about my mortgage tho

Look. The wealthy guy is talking about mortgages, oblivious to the fact that those on the lower end of the economic scale are more likely RENTERS and thus don't get the 'debt' relief that increased inflation brings.

 

[07pilt]

Look. The wealthy guy is talking about mortgages, oblivious to the fact that those on the lower end of the economic scale are more likely RENTERS and thus don't get the 'debt' relief that increased inflation brings.

No they just get a big raise. Damn.

 

[GoPokes43]

Please next time you think a couple shots of whiskey might be good, go for 100 instead.

I am okay with raising the minimum wage as high as possible. I see no down side.

Wow. The downside is job cuts at the low end and extreme inflation. Helps homeowners and other borrowers though be able to pay off loans easily. So, mostly helps the wealthy in the long run after slowing the economy for a few years.

 

[aix_xpert]

How sure about that are you?

100% Positive. There are select companies that will raise their base salaries higher than minimum to attract a better employee, but its not a rising tide that raises all boats. Unless you think this minimum wage increase will work differently than any previous one in which I'd love to see your support and evidence of that.

Any evidence for that?

You familiar with Galaxy Comics and Games in Orlando? They have a handful of stores in the central Florida corridor, focusing on comic books, Magic the Gathering, D&D, and other items from the gaming culture. The owner is very concerned as it would raise his employee costs significantly and that at a minimum he'll have to shift his open hours to accomodate. He doesn't have large margins to absorb a $500+/mo hit for each college kid he has working behind the counter. He's stated that he'd start by shifting the open hours from 9-9 to noon-8. He would then either let go of an employee per site (due to reduced hours) or reduce the hours of everyone based on the new schedule.

Do you learn in basic economics that the the extra money paid out in wages just goes into a black hole?

Huh? I guess you assume that these businesses can absorb the cost increases because those at the bottom of the economic ladder have a little more money to spend? I guess if your McD's that could work.

Do they teach you in basic economics what happens to the price of capital goods when the cost of labor goes up?

Yes they do. Did you learn ROI in your fancy economics classes?

 

[07pilt]

Wow. The downside is job cuts at the low end and extreme inflation. Helps homeowners and other borrowers though be able to pay off loans easily. So, mostly helps the wealthy in the long run after slowing the economy for a few years.

No, wealthy people have less net debt as a percentage of income and wealth.

No evidence that it reduces jobs either.

 

[aix_xpert]

No, wealthy people have less net debt as a percentage of income and wealth.

No evidence that it reduces jobs either.

Funny, Forbes disagrees.

• new evidence that increases in the minimum wage reduce employment in the long run.

• higher minimum wages have a cost, namely fewer employment opportunities for lower-skill workers.

https://www.forbes.com/sites/adammi...minimum-wages-impact-employment/#545568fd1e7d

 

[2012Bearcat]

Please next time you think a couple shots of whiskey might be good, go for 100 instead.

I am okay with raising the minimum wage as high as possible. I see no down side.

What does high as possible mean?

 

[07pilt]

Funny, Forbes disagrees.

• new evidence that increases in the minimum wage reduce employment in the long run.

• higher minimum wages have a cost, namely fewer employment opportunities for lower-skill workers.

https://www.forbes.com/sites/adammi...minimum-wages-impact-employment/#545568fd1e7d

Forbes? Color me shocked.

 

[07pilt]

100% Positive. There are select companies that will raise their base salaries higher than minimum to attract a better employee, but its not a rising tide that raises all boats. Unless you think this minimum wage increase will work differently than any previous one in which I'd love to see your support and evidence of that.

So lower income people get a raise, but other people don't? I thought you said this was a rich man's idea. It's also ludicrous to suggest that if minimum wage were to increase to $50/hr that everyone would then make $50/hr except for those who already make $50/hr or more whose pay would remain the same.

You familiar with Galaxy Comics and Games in Orlando? They have a handful of stores in the central Florida corridor, focusing on comic books, Magic the Gathering, D&D, and other items from the gaming culture. The owner is very concerned as it would raise his employee costs significantly and that at a minimum he'll have to shift his open hours to accomodate. He doesn't have large margins to absorb a $500+/mo hit for each college kid he has working behind the counter. He's stated that he'd start by shifting the open hours from 9-9 to noon-8. He would then either let go of an employee per site (due to reduced hours) or reduce the hours of everyone based on the new schedule.

Yeah I asked for evidence not an anecdote, but it might surprise you to find out that a small business tyrant is more concerned about the costs of a minimum wage increase than the benefits. Has he considered raising prices instead of cutting workers?

Huh? I guess you assume that these businesses can absorb the cost increases because those at the bottom of the economic ladder have a little more money to spend?

Yeah believe it or not the increase in costs to employ people matches the increase in people's income to the penny.

Yes they do. Did you learn ROI in your fancy economics classes?

They touched on it a enough to know that a key component of ROI is I, or investment. Do you think the cost of investment in capital good is static in the face of increased labor cost?

 

[07pilt]

What does high as possible mean?

The limitations on the possibility being politics of course.

 

[07pilt]

Funny, Forbes disagrees.

• new evidence that increases in the minimum wage reduce employment in the long run.

• higher minimum wages have a cost, namely fewer employment opportunities for lower-skill workers.

https://www.forbes.com/sites/adammi...minimum-wages-impact-employment/#545568fd1e7d

Actually I do agree with Forbes here. Minimum wage increases at the city level are not the best way to handle this.

 

[shortbus]

Who cares about the cost!

We can just print as much money as we want!

Duh!