There was no significant cost to businesses that dont hire min wage workers, true. But for ones who do the results are the same: reduced hours, layoffs, higher prices, closure of business.Oh Christ I'm not having this same argument with you just because you aren't mature enough to accept the answer. The rise in prices would not offset the boost to consumer spending. Over time prices would go down. Every time the min wage was raised, there was no significant cost to businesses. Look at history for Christ's sakes. This economy depends on consumer spending and right now it is shit because of low wages. Individual corporations refuse to raise wages because it is just easier for them to keep the ridiculous amount of money they already make. 3 out of 5 small businesses on the other hand support raising the minimum wage.Thats total bullshit. We've had 3 increases in MW and in no case was there increased spendoingYou have to look at this more broadly. I'm saying businesses across the country would benefit from it. More people would be spending more money on the market. Consumer spending accounts for 70% of the nation's economy.I don't understand how you people dismiss the demand side of economics. Any initial cost to business from raising wages would be regained by the boost to business from bigger paychecks.You can say tough shit all you like. But if minimum wage were to increase to $15.00 tomorrow, all those workers would be demanding more money. Tough ship?
Okay, so you are an employer. Minimum wage goes to $15.00 per hour, so now your current $15.00 per hour employees are demanding $20.00 per hour. What are your choices?
You can tell your employees that have been with the company the last ten years to take a hike, and then hire new minimum wage employees that know nothing about your company, nothing about your operations, nothing about the positions you need them for. You'll have to train all of these people to do the jobs your experienced employees used to do. This could take years. And after you trained them, they too will be asking for more money.
Or you increase your current employees wages and keep that experience and dedication. It's really a brainless decision. Employers will be forced to keep their current employees and take the financial loss.
What bigger paychecks, from the employees? How would business benefit from that?
When Commie Care went into full force, my employer dropped our healthcare coverage. Unfortunately, the geniuses that created this mess never put in a clause where the employer could pay you cash for the benefits he canceled. All he could do is increase your pay rate which my employer did.
He was paying $415.00 a month for my coverage, but, he couldn't give me a separate check for the $415.00. He had to figure what the extra costs were for matching my SS contributions, matching my Medicare contributions, higher unemployment tax, higher workman's compensation tax and so on.
With all the Deductions before what I got taxed on, I ended up with $275.00 of that money and again, I paid tax on that because it was part of my gross.
When your employer gives you a raise, all you see is the raise part. You don't see all the additional expenses he has to payout for all the benefits and costs associated with that raise. Imagine what an employer would have to pay on top of the new $15.00 per hour.
Instead what happens is busineess must either increase prices or reduce workers hours. There is no net gain for workers.
Why would prices go down when costs go up? That makes no sense at all.
As usual Billy you spew a bunch of crap you cannot possibly support because you dont know the first thing about this.