What would happen to the economy if minimum wages are raised?

[xband]

I was born long before the computer revolution and can't even copy and paste. If that is some kind of secret phrase then just say so and I will not inquire further. I have a Univac general purpose digital computer for an avatar that was used special purpose many decades ago.

Don't worry, someone will come around and translate it for you.

And yes, I like being difficult.

A yo ko pek pek na baho. Too dirty to translate into English.

 

[Toddsterpatriot]

More people would spend more money, causing stores and restaurants to hire more people...

More tax money would go into local, state, and federal programs, so schools and infrastructure would improve.

More people would spend more money, causing stores and restaurants to hire more people...

Fewer stores and restaurants would open.
Stores and restaurants would hire fewer people. People and businesses would have less money to spend.
More tax money would go to welfare and unemployment.

 

[Mr Natural]

The economy would crash just like it has every time the minimum wage has been increased over the last 70 years or so.

You'd think they would learn by now.,

 

[Skull Pilot]

The economy would crash just like it has every time the minimum wage has been increased over the last 70 years or so.

You'd think they would learn by now.,

Like I said it depends on how much of an increase

7.25 to 8.00 or even 8.50 no big deal

7.25 to 15.00 is a totally different story

 

[EdwardBaiamonte]

More people would spend more money, causing stores and restaurants to hire more people...

More tax money would go into local, state, and federal programs, so schools and infrastructure would improve.

seems like another liberal no brainer. Perhaps we need a Constitutional Amendment to raise all wages by $10/hr every year for the next 100 years??????????

 

[OnePercenter]

Jobs would be cut, investment diminished.

It's the value of the work that determines the pay.

Employees make all of the monies for employers. If you cut employees you make less money.

 

[OnePercenter]

Simple.

No independent restaurant startup would ever be able to compete. The rate of failure for restaurant startups is already 9 out of 10.

All new business today MUST do three things to survive.

1) A minimum of FIVE YEARS total capital.
2) Know whom to hire (which can be farmed out to professionals).
3) NEVER, NEVER, NEVER hire relatives.

 

[Toddsterpatriot]

Jobs would be cut, investment diminished.

It's the value of the work that determines the pay.

Employees make all of the monies for employers. If you cut employees you make less money.

Employees make all of the monies for employers.

All of it? What about the equipment?

If you cut employees you make less money.

If the minimum wage is more than the employee is producing, you would actually save money by cutting employees.

 

[Onyx]

1) A minimum of FIVE YEARS total capital.

Right, and that number is only going to increase.

You cannot start a business operation without taking in debt, or (if you want to start young) working for others on the street for 5-15 years years. Even if you do raise enough capital for a start up, it is not a guarantee that you are going to make a profit. A lot of businesses that go out should of been able to make a comfortable living, had the government lowered the cost of doing business.

It is a really fucked up state of affairs.

 

[rightwinger]

Small business and corporations have seen their wealth increase $13 trillion in the last eight years

Almost none of that wealth went to increase wages

 

[Toddsterpatriot]

Small business and corporations have seen their wealth increase $13 trillion in the last eight years

Almost none of that wealth went to increase wages

Employee compensation is up from $7.787 trillion in 2009 to $9.693 trillion last year.

Wages and salaries are up from $6.251 trillion to $7.855 trillion over the same period.

http://www.bea.gov/itable/iTable.cf...=1&904=2000&903=58&906=a&905=2016&910=x&911=0

 

[EdwardBaiamonte]

If you cut employees you make less money.

it depends of course on if you need the employees in question at the time and at the price.

 

[OnePercenter]

and since 97% of workers already make more than the federal MW it seems silly to raise it drastically

It seems silly to raise it at all.

Scrap that, it seems silly for the corporate government to play wage control at all.

I agree. It doesn't matter what the MW is IMO because employment is a ladder not a bed you're not supposed to stay at the bottom rung your entire life

As long as employers can get away with paying crap, that is what is going to happen.

Why do you continue to plead the case for these jerks?

 

[Onyx]

As long as employers can get away with paying crap, that is what is going to happen.

Why do you continue to plead the case for these jerks?

Ever consider that minimum wage laws help those same jerks destroy aspiring competition?

 

[OnePercenter]

and since 97% of workers already make more than the federal MW it seems silly to raise it drastically

It seems silly to raise it at all.

Scrap that! It seems silly for the corporate government to play wage control at all.

It's pure insanity to price yourself out of a job. There are multitudes of scabs eager and willing to do low tech work.

With the exception of degree professionals/certificate/licensed, every job is low tech. Greed is why workers make crap today.

 

[OnePercenter]

Jobs would be cut, investment diminished.

It's the value of the work that determines the pay.

Employees make all of the monies for employers. If you cut employees you make less money.

Employees make all of the monies for employers.

All of it? What about the equipment?

If you cut employees you make less money.

If the minimum wage is more than the employee is producing, you would actually save money by cutting employees.

Equipment is infrastructure.

Since an average employee makes five times revenue vs. expense how is that possible?

 

[OnePercenter]

As long as employers can get away with paying crap, that is what is going to happen.

Why do you continue to plead the case for these jerks?

Ever consider that minimum wage laws help those same jerks destroy aspiring competition?

Someone willing to do the job for less? That NEVER works.

 

[Toddsterpatriot]

Jobs would be cut, investment diminished.

It's the value of the work that determines the pay.

Employees make all of the monies for employers. If you cut employees you make less money.

Employees make all of the monies for employers.

All of it? What about the equipment?

If you cut employees you make less money.

If the minimum wage is more than the employee is producing, you would actually save money by cutting employees.

Equipment is infrastructure.

Since an average employee makes five times revenue vs. expense how is that possible?

Equipment is infrastructure.

Yeah, those workers who "make all the monies" are usually working with some expensive equipment.

Since an average employee makes five times revenue vs. expense how is that possible?

We aren't talking about average employees. We're talking about minimum wage employees.

 

[OnePercenter]

Small business and corporations have seen their wealth increase $13 trillion in the last eight years

Almost none of that wealth went to increase wages

Employee compensation is up from $7.787 trillion in 2009 to $9.693 trillion last year.

Wages and salaries are up from $6.251 trillion to $7.855 trillion over the same period.

http://www.bea.gov/itable/iTable.cf...=1&904=2000&903=58&906=a&905=2016&910=x&911=0

Employee compensation to whom?

From 2009-14, CEO compensation rose 54.3%, while private-sector production/non-supervisory workers rose 0.0%.

Top CEOs Make 300 Times More than Typical Workers: Pay Growth Surpasses Stock Gains and Wage Growth of Top 0.1 Percent

 

[OnePercenter]

As long as employers can get away with paying crap, that is what is going to happen.

Why do you continue to plead the case for these jerks?

Ever consider that minimum wage laws help those same jerks destroy aspiring competition?

By lying when they say they can't afford it?