Los Angeles Lifts Its Minimum Wage to $15 Per Hour by 2020!

[OnePercenter]

Before the whiners start, Alaska and South Dakota raised theirs too.

http://www.nytimes.com/2015/05/20/u...to-raise-minimum-wage-to-15-an-hour.html?_r=0

 

[EdwardBaiamonte]

Before the whiners start, Alaska and South Dakota raised theirs too.

http://www.nytimes.com/2015/05/20/u...to-raise-minimum-wage-to-15-an-hour.html?_r=0

dear, a Rolls Royce sells less than a Chevy because of the higher price. Why do you want fewer jobs?

See why we say liberalism is based in pure ignorance??

 

[EdwardBaiamonte]

the best way to compete with cheap labor in China and India is too raise our wages even higher!! The liberal brain at work being dumber than dumb!!

 

[Mr Natural]

Pay American workers less than their Chinese counterparts and watch those jobs come flooding back!

Prosperity Through Lower Wages!

 

[OnePercenter]

Before the whiners start, Alaska and South Dakota raised theirs too.

http://www.nytimes.com/2015/05/20/u...to-raise-minimum-wage-to-15-an-hour.html?_r=0

dear, a Rolls Royce sells less than a Chevy because of the higher price. Why do you want fewer jobs?

See why we say liberalism is based in pure ignorance??

Too late, the whiners started.

 

[Mac1958]

At this point, I really don't care what happens to the minimum wage, because the direction of the country is pretty clear. Do what you will.

Just for fun, though, I'll like to link to a piece that warns about jumps in the MW that we're seeing: Everything We Don t Know About Minimum-Wage Hikes - Bloomberg View

The theorists don't like real-world stuff, so they'll either ignore the piece or deny everything in it. Hey, it's not like most of them have ever actually started, grown and run a business. The MW debate is reasonable, and we should have been increasing it incrementally all along. But the ignorance and/or naivete of the theorists isn't helpful, either.

From the piece:

Unfortunately, even that result isn't as useful as you might think in the current debates over the minimum wage. For one thing, a lot of those studies examined relatively small increases in the minimum wage. For example, the famous Card and Krueger study, which is probably the single paper most frequently cited by advocates of a higher minimum wage, involved a 1992 increase to $5.05 an hour from $4.25 -- the equivalent of raising the minimum to $8.50 from $7.15 today.

It wouldn't be all that surprising if a small hike in the minimum wage had little effect on unemployment. But that doesn't mean that you can extrapolate that result to very high minimums, like the Sea-Tac law, which hiked the local minimum wage by more than 50 percent from a level that was already well above the national average. To illustrate the problem, imagine raising the minimum wage by a penny. It's extremely doubtful that anyone would fire workers in order to save 40 cents a week. But you'd be foolish to conclude that it would therefore be safe to raise the minimum wage to $100 an hour. The size of the increase matters.

.

 

[Delta4Embassy]

Before the whiners start, Alaska and South Dakota raised theirs too.

http://www.nytimes.com/2015/05/20/u...to-raise-minimum-wage-to-15-an-hour.html?_r=0

$31,200/year in L.A.? Good luck with that.

 

[EdwardBaiamonte]

The size of the increase matters.
.

Not to a liberal. They don't have a clue about why everyone should not get a raise to $100 hour or why corporations should not be required by libcommie to pay enough and employee enough to end poverty on earth forever!

 

[OnePercenter]

Before the whiners start, Alaska and South Dakota raised theirs too.

http://www.nytimes.com/2015/05/20/u...to-raise-minimum-wage-to-15-an-hour.html?_r=0

$31,200/year in L.A.? Good luck with that.

Haven't businesses been raising prices for years? Where did the money go? I have a friend that owns a liquor store in the LA valley. His net is over $1M/yr.

 

[Delta4Embassy]

Before the whiners start, Alaska and South Dakota raised theirs too.

http://www.nytimes.com/2015/05/20/u...to-raise-minimum-wage-to-15-an-hour.html?_r=0

$31,200/year in L.A.? Good luck with that.

Haven't businesses been raising prices for years? Where did the money go? I have a friend that owns a liquor store in the LA valley. His net is over $1M/yr.

Income a year is irrelevant if your costs are so much that your profit margin isn't giving you any actual income. Wine Store on last night's "The Profit" on CNBC made over 3.5M/year but despite that wasn't making any actual profit after expenses and such.

 

[EdwardBaiamonte]

Haven't businesses been raising prices for years? Where did the money go? I have a friend that owns a liquor store in the LA valley. His net is over $1M/yr.

1% walks into the swinging door yet again. Yes they raise prices but in a very competitive environment so it must be less than competition to avoid bankruptcy. Econ 101.

 

[Pksimon2007]

the best way to compete with cheap labor in China and India is too raise our wages even higher!! The liberal brain at work being dumber than dumb!!

- Teabag logic: "we need to open the doors to free international capital flows to increase efficiency. It will be good for America and the middle class!"

"Hey, where did all the jobs go?"

"We need to lower wages so we can compete with Bangladeshis!"

Maybe the best way to have an economy which supports having any sort of middle class is not to design a situation where American workers HAVE to compete with workers in countries that have no middle class.

 

[Pksimon2007]

Maybe the neoliberals should have listened to Ross Perot rather than to Milton Friedman.

 

[OnePercenter]

Before the whiners start, Alaska and South Dakota raised theirs too.

http://www.nytimes.com/2015/05/20/u...to-raise-minimum-wage-to-15-an-hour.html?_r=0

$31,200/year in L.A.? Good luck with that.

Haven't businesses been raising prices for years? Where did the money go? I have a friend that owns a liquor store in the LA valley. His net is over $1M/yr.

Income a year is irrelevant if your costs are so much that your profit margin isn't giving you any actual income. Wine Store on last night's "The Profit" on CNBC made over 3.5M/year but despite that wasn't making any actual profit after expenses and such.

Net income is 'irrelevant?' Really?

The wine store made $3.5M/yr in revenue. Where was the money going?

 

[EdwardBaiamonte]

Before the whiners start, Alaska and South Dakota raised theirs too.

http://www.nytimes.com/2015/05/20/u...to-raise-minimum-wage-to-15-an-hour.html?_r=0

$31,200/year in L.A.? Good luck with that.

Haven't businesses been raising prices for years? Where did the money go? I have a friend that owns a liquor store in the LA valley. His net is over $1M/yr.

Income a year is irrelevant if your costs are so much that your profit margin isn't giving you any actual income. Wine Store on last night's "The Profit" on CNBC made over 3.5M/year but despite that wasn't making any actual profit after expenses and such.

Net income is 'irrelevant?' Really?

The wine store made $3.5M/yr in revenue. Where was the money going?

opening a wine store is a no brainer so everyone does it driving down prices so mostly there is no profit and long hours. Plus you have to compete with big retailers. Capitalism is so beautiful that it favors the consumer's standard of living only.

 

[OnePercenter]

opening a wine store is a no brainer so everyone does it driving down prices so mostly there is no profit and long hours. Plus you have to compete with big retailers. Capitalism is so beautiful that it favors the consumer's standard of living only.

Which doesn't answer the question; The wine store made $3.5M/yr in revenue. Where was the money going?

In Vegas we have a store, Lee's Discount Liquor. The store competes with big retailers and makes a huge profit.

 

[EdwardBaiamonte]

opening a wine store is a no brainer so everyone does it driving down prices so mostly there is no profit and long hours. Plus you have to compete with big retailers. Capitalism is so beautiful that it favors the consumer's standard of living only.

Which doesn't answer the question; The wine store made $3.5M/yr in revenue. Where was the money going?

In Vegas we have a store, Lee's Discount Liquor. The store competes with big retailers and makes a huge profit.

100% stupid as always. If true anyone could open next door and make a big, not huge, profit. Now does the little boy understand how Republlican capitalism gives all the profits to the consumers in the form of lower prices.

 

[OnePercenter]

100% stupid as always. If true anyone could open next door and make a big, not huge, profit. Now does the little boy understand how Republlican capitalism gives all the profits to the consumers in the form of lower prices.

Still doesn't answer the question; The wine store made $3.5M/yr in revenue, what happened to the money?

 

[EdwardBaiamonte]

100% stupid as always. If true anyone could open next door and make a big, not huge, profit. Now does the little boy understand how Republlican capitalism gives all the profits to the consumers in the form of lower prices.

Still doesn't answer the question; The wine store made $3.5M/yr in revenue, what happened to the money?

dear, one wine store is not important, what is important is for you to learn that in a capitalist society anyone who make big profits, especially if they do it without tremendous skill like in the case of a wine store, competition will soon take away the big profits until they have disappeared into the customer's hands .

Do you understand the beauty of capitalism now and how nearly all profits go to the customer?

In fact, in microeconomics they teach that in the long run profits are $0.

Hate to rock your world but do you really want to be a liberal all your life??.

 

[EdwardBaiamonte]

Maybe the best way to have an economy which supports having any sort of middle class is not to design a situation where American workers HAVE to compete with workers in countries that have no middle class.

got it so the liberal wants to make free trade illegal in a free country??

The Golden Rule:
the more with whom you trade the richer you get no matter if they are across the street or across the world; the fewer with whom you trade the poorer you get. If you could not trade at all you'd have to make everything yourself and so starve to death or live a subsistence life style. Hence, the more with whom you trade the richer you get no matter if they are across the street or across the world.

Moreover, its exactly as Richard Nixon once said, "our goods have to be world class if we want to be a world class country". Imagine how backward our industry would be if it did not have to compete in the globalized market place? Our cars would be like the soviet car were you had to use a dip stick to check how much gasoline you had, and back them up hill because the carburetors were gravity fed. This is what the liberals, in effect, propose because they lack the ability to understand free trade.