So, the guy sweeping floors gets $15, the cashier now wants $17, the assistant manager wants $20, the manager wants $25. The owner stops hiring and raises prices to pay for all the raises. Now everything costs more and fewer people have jobs. Yay price controls.
Might actually benefit red states with lower cost of living. 15 hr is still terrible in most cities, so inflation will push up city cost even more, this demanding a $25 hr. Overall bad, but might backfire of dems
The only thing that should control the rate of pay is the free market.
There are too many variables involved to make a rule that mandates a minimum pay rate.
Government needs to stay out of it.
"You can't legislate the value of labor. Changing prices does not change value. No business owner is going to cut their salary to pay extra payroll. I own a business, any cost of good or labor increases gets immediately passed along to customers, plus I will pass along the increased payroll taxes as well. Wages go up, government gets higher tax income, prices go up, you are back to where you started with value of savings wiped out. Read a fucking book"
I'm just saying, since it will most likely pass and become reality, the economic consequences will probably fall harder on cities, ie dem controlled areas
Well, then I am going to become one. I'll be dammed if I am going to slave away at a job only to be taxed to oblivion to pay for them or I am headed to Mexico with all my assets.
Between $15 minimum wage and the IRS increased audits on small businesses, looks like Biden and the CCP are looking to crush Main Street once and for all.
Enjoy your $12.00 happy meals. Also, I suspect sit down dining will go up in price and tips will dwindle.
Meanwhile, some of the workers will be in a worse situation. Seattle’s move to $15 an hour, a few years ago, resulted in workers given fewer hours and experiencing a net loss in pay.
You can't legislate the value of labor. Changing prices does not change value. No business owner is going to cut their salary to pay extra payroll. I own a business, any cost of good or labor increases gets immediately passed along to customers, plus I will pass along the increased payroll taxes as well. Wages go up, government gets higher tax income, prices go up, you are back to where you started with value of savings wiped out. Read a fucking book
So, the guy sweeping floors gets $15, the cashier now wants $17, the assistant manager wants $20, the manager wants $25. The owner stops hiring and raises prices to pay for all the raises. Now everything costs more and fewer people have jobs. Yay price controls.
They just want to finish the murder of small businesses.
He is doing it because the dollar will be so devalued after his retarded stimulus and Chinese BS, that 15 bucks will just barely buy a loaf of bread
Job killer and inflation driver,nice policy.
Might actually benefit red states with lower cost of living. 15 hr is still terrible in most cities, so inflation will push up city cost even more, this demanding a $25 hr. Overall bad, but might backfire of dems
The only thing that should control the rate of pay is the free market. There are too many variables involved to make a rule that mandates a minimum pay rate. Government needs to stay out of it.
100%. Here is my comment from below
"You can't legislate the value of labor. Changing prices does not change value. No business owner is going to cut their salary to pay extra payroll. I own a business, any cost of good or labor increases gets immediately passed along to customers, plus I will pass along the increased payroll taxes as well. Wages go up, government gets higher tax income, prices go up, you are back to where you started with value of savings wiped out. Read a fucking book"
I'm just saying, since it will most likely pass and become reality, the economic consequences will probably fall harder on cities, ie dem controlled areas
There goes most fast food jobs. The technology is already available to replace people as waiters.
This will create a whole new class of poor.
In this corner UBI...and in this corner, No free lunches.
Well, then I am going to become one. I'll be dammed if I am going to slave away at a job only to be taxed to oblivion to pay for them or I am headed to Mexico with all my assets.
Don't forget hours cut.
"What do you mean I don't work enough hours for my benefits anymore?!?"
Who gives a fuck about biden?
Yes because they have the house + senate now. Nothing can stop it.
Between $15 minimum wage and the IRS increased audits on small businesses, looks like Biden and the CCP are looking to crush Main Street once and for all.
It will pass.
Enjoy your $12.00 happy meals. Also, I suspect sit down dining will go up in price and tips will dwindle.
Meanwhile, some of the workers will be in a worse situation. Seattle’s move to $15 an hour, a few years ago, resulted in workers given fewer hours and experiencing a net loss in pay.
I mean, if the dems have both chambers, probably?
It should. It's actually the right thing for America. We have more billionaires than ever before. $15 still isn't a livable wage.
You can't legislate the value of labor. Changing prices does not change value. No business owner is going to cut their salary to pay extra payroll. I own a business, any cost of good or labor increases gets immediately passed along to customers, plus I will pass along the increased payroll taxes as well. Wages go up, government gets higher tax income, prices go up, you are back to where you started with value of savings wiped out. Read a fucking book
This actually hurts low skilled workers.
Here's a good read on what happened when Seattle increased its minimum wage: https://www.nber.org/papers/w23532