name one business that has had to close its doors due to a minimum wage increase then.
see, your spending your disposable income to.
That's just it....the business will release the low wage employees so they can stay in business and maintain a profit level.
So, your question is, again, not on point or congruent with reality.
I spend about 60% of my income after taxes. The rest is invested for tomorrow.
People dont save shit these days, and they will pay for it when they are older. They think the party is now, but what they are really doing is spending all their money outside the club while waiting to get in.
Gonna be some sad pandas the day they finally get through those doors and realize they dont have enough to keep the party going.
How many kids grow up saying they want to be factory or field workers.
Some of my classmates as kids were stoked about the idea of working on automotive production lines, repair lines, etc. One went on at one point and was one of the lead techs in Brampton for the Dodge production line, and later after a little schooling become a production engineer. Others I never kept in touch with, but working in a factory used to be the cool thing to do. A huge part of my business is fabrication and production and is where I spend most of my time while working.
"I want to work in a factory"
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You have a very, very good point. Jumping from 7+ to 15 is a massive jump, doubling your labor expenses. Not only does that effect business with minimum wage workers but it is also going to really effect those without minimum wage workers.I think the big scare for business owners is because the min wage hasnt been raised in decades and inflation has risen quite a bit that the amount the hourly wage needs to go up scares them.
Min wage should always be tied to inflation and looked at a minimum 3 years and adjusted. Thats a fair system for all and granting someone a few dollars a week extra every year is not a big deal for the person paying it.
Our min wage in Australia is over seen by an independent body (fair wage tribunal) and they recommend the rate changers. Every few years when they recomend a change the business lobby groups say the usual stuff (same stuff they have said in this thread) "Business will go broke". "unemployment will rise" etc etc. It never happens of cause (unless the business is not an economically sound one and would of failed anyway) as inflation covers the costs.
The economics is sound. People spend disposable income. People spending money drives the economy. Thats why we have interest rates.
I spend about 60% of my income after taxes. The rest is invested for tomorrow.
People dont save shit these days, and they will pay for it when they are older. They think the party is now, but what they are really doing is spending all their money outside the club while waiting to get in.
Gonna be some sad pandas the day they finally get through those doors and realize they dont have enough to keep the party going.
Let's see the data which supports your contention. Everything I've seen points in the opposite direction; boosts in wages mean a boost to the economy, PROMOTING HIRING.
Looks like someone needs to try a little harder.
If he made more he would loose SS benefits. McD's is notorious for hiring within the community knowing that an employee asking for no more than 27 hour, as it will disrupt his finances, has no interest in moving forward, and will not accept a raise. It took me 3 months to fire an employee like that.
To add, look at the costs. $500 for rent, 1 job making $1000, 800 in other expenses (lets list what they were, if alcohol, video game, TV cable bill is even purchased once then it is a fail), 250 for a car payment.
Again this is a failure to learn Life Skills. Job #2 is blank. Not McDonald's fault. I hate that I just said that.
It's not right for ttystikk to have more money than me. He should give me all his money. He doesn't work for it.
Do you see how little sense that makes?
Minimum wage is entry level. If you want more, go get it. The opportunity is there. If you are an adult with any experience or work ethic and making minimum wage you have made some terrible decisions along the way.
Hell create this Utopian business where the employees are paid well regardless of skill. Sounds like a great plan. I'll be looking for you on the cover of Forbes.
The vast majority of the 1% are 1st generation wealthy. Money comes and goes. Within 2 generations their offspring will be dead ass broke. It's just the way shit goes. Don't be a hater.
A little story. I have a friend who is a slum lord and sells shitty cars. The risk is big. They are all broke. No one else will finance them. His philosophy is you've got to fuck the poor. Rich people know better. He's doing quite well.
None of that means I want people to be poor. What's mine is mine. You feel the same way. The difference is I live by the golden rule. Because I don't want you in my pocket, I will keep my hands out of yours.
The truth of the matter is we all vote with our dollars. If you don't like what company x,y,or z is doing then don't buy their products. But we like cheap Walmart shit. The cheaper the better.