CBO: Biden $15 An Hour Minimum Wage Will Cost 1.4 Million American Jobs

[Wyatt earp]

But that's not what happened.

We had the "Walmarting of the nation".

Lower quality shit sold super cheap and made in China

Vendors cater to their customers. That's what really happened. Walmart was just doing that and became number one.

They don't like that truth , ray

 

[Wyatt earp]

It’s all an effort to bring wages for workers in Gooberville into the 21st century to be more in line with their more successful and prosperous urban and suburban counterparts.

Right because in NY and LA and other large cities $15 an hour will put you out on the streets.

That's the weird thing, you can't live on $15 bucks an hour in the big cities, who could with $1,500 dollar appartments and up

 

[danielpalos]

Politics do often make strange bedfellows. For example, Liberals hate corporations, and often blame them for putting 'mom & pop shops' out of business. On the other hand however, Liberals are in favor of Government stepping in and artificially raising the cost of labor, which ravages the same 'mom & pop shops' who are less capable of absorbing this distortion in the market process.

So in reality, Liberals are in FAVOR of government stepping in to assist corporations in driving small businesses OUT of business.



Not all liberals are idiots, but... wait, yeah they are.

Mom and pop shops are not the entities that benefit from ultra low wages.

That's fast food joints and at packing plants

Funny I just looked up mississippi/mcdonald's on indeed they are starting over minimum wage




Crew
McDonald’s
196,378 reviews
Booneville, MS 38829
Job
Company
Insights
Job details
Salary
$7.50 - $9.00 an hour

Crew - Booneville, MS 38829 - Indeed.com

McDonald’s

www.indeed.com

I believe this is the true driving fear behind the mad leap to double the MW, the proponents realize the federal MW is being revealed as irrelevant because cities and states are already setting their own MW higher. In fact, they should be demonstrating against and petitioning their local governments to raise the local MW, not Washington.

The "mad leap to double the minimum wage" is because it had not been raised for around decade and inflation still happened.

So raise it to $8.85

After a decade of a stagnant wage? Minimum wage labor should not need social services merely to help capitalists with their bottom line.

 

[Toddsterpatriot]

After a decade of a stagnant wage?

So you DON'T want to adjust for inflation since the last hike?

 

[Wyatt earp]

Politics do often make strange bedfellows. For example, Liberals hate corporations, and often blame them for putting 'mom & pop shops' out of business. On the other hand however, Liberals are in favor of Government stepping in and artificially raising the cost of labor, which ravages the same 'mom & pop shops' who are less capable of absorbing this distortion in the market process.

So in reality, Liberals are in FAVOR of government stepping in to assist corporations in driving small businesses OUT of business.



Not all liberals are idiots, but... wait, yeah they are.

Mom and pop shops are not the entities that benefit from ultra low wages.

That's fast food joints and at packing plants

Funny I just looked up mississippi/mcdonald's on indeed they are starting over minimum wage




Crew
McDonald’s
196,378 reviews
Booneville, MS 38829
Job
Company
Insights
Job details
Salary
$7.50 - $9.00 an hour

Crew - Booneville, MS 38829 - Indeed.com

McDonald’s

www.indeed.com

I believe this is the true driving fear behind the mad leap to double the MW, the proponents realize the federal MW is being revealed as irrelevant because cities and states are already setting their own MW higher. In fact, they should be demonstrating against and petitioning their local governments to raise the local MW, not Washington.

The "mad leap to double the minimum wage" is because it had not been raised for around decade and inflation still happened.

So raise it to $8.85

After a decade of a stagnant wage? Minimum wage labor should not need social services merely to help capitalists with their bottom line.

The captilalist is helping the government

 

[Canon Shooter]

Why not just raise it incrementally and allow ALL business to adjust? it would be simpler.

Everybody will know it is going to happen, even your consumers. One quick shock and boom, higher paid labor will be creating more in demand and generating more in tax revenue.

No, they won't.

If I'm selling 100 widgets a day, and I'm paying my employees $9.00, there's not going to magically be increased demand for widgets if I start paying them $15 an hour. Furthermore, the people who then get paid $15 an hour aren't magically going to have more buying power, simply because prices will go up and their $15 isn't going to go anywhere close to what they thought...

 

[Votto]

CBO: Biden’s $15 Minimum Wage Would
Result in a Loss of 1.4 Million Jobs

Why Do This? Because the Democrats know what's best for you...and because they CAN.


CBO: Biden's $15 Minimum Wage Would Result in a Loss of 1.4 Million Jobs

Lose 1.4 million jobs? Stop encouraging democrat support.

 

[Lesh]

Furthermore, the people who then get paid $15 an hour aren't magically going to have more buying power, simply because prices will go up and their $15 isn't going to go anywhere close to what they thought...

If ONLY you were subject to that it might have some truth...but if wages go up across the board there WILL be increased demand.

But hey...it shouldn't affect you. You're an enlightened employer. You probably PAY that much already or close to it right?

You're not propping up a weak business model on the backs of your workers...right?

I know that the small business I own is based on paying $15/hr now. If I can't afford that I do the work myself.

There's a concept huh? If you can't afford to pay a decent wage...do it yourself. THEN you'll see the value of their labor.

 

[Ray From Cleveland]

Me, because mine are higher quality, and yours are shit. Walmart and Target initially went with you, but after a slew of negative reviews, complaints, and returns by customers, they decided to go with mine. You still sell yours on Amazon, but most get 1 star reviews.

If the American consumer cared about quality, we wouldn't have half the Chinese crap in our houses that we have today. When it comes to widgets, there is only one way to make them. They are not a work of art. It's like paying a guy to turn nuts onto bolts. If you pay your worker $17.00 per hour to turn nuts onto bolts, and I'm paying my worker $9.00 to turn nuts onto bolts, your worker is not going to turn them any better than mine.

 

[Lesh]

Me, because mine are higher quality, and yours are shit. Walmart and Target initially went with you, but after a slew of negative reviews, complaints, and returns by customers, they decided to go with mine. You still sell yours on Amazon, but most get 1 star reviews.

If the American consumer cared about quality, we wouldn't have half the Chinese crap in our houses that we have today. When it comes to widgets, there is only one way to make them. They are not a work of art. It's like paying a guy to turn nuts onto bolts. If you pay your worker $17.00 per hour to turn nuts onto bolts, and I'm paying my worker $9.00 to turn nuts onto bolts, your worker is not going to turn them any better than mine.

If you can't afford to pay your workers a decent wage...either make something else or make them yourself. Oh you can't make enough?

NOW you see the value of their labor. Pay them accordingly

 

[Ray From Cleveland]

I remember the first Japanese imports were greeted with derision and that they were the butt of many jokes. It didn't take long for the quality to meet up with the low price and now they're here to stay. It's a big blow when your competition has the reputation for better quality and lower prices than you do. I have to wonder about our intrepid poster. How many times has he chosen to purchase goods made by non-union companies because it was cheaper and he got the same or better quality? It ultimately comes down to the consumer. He's in the driver's seat and if he wants unions, he'll buy from union companies.

I ran into a guy years ago that I used to know as a kid. We started talking about the good times. He said he stayed in contact with one of our other friends, and he was retired. This was back when I was around 50 years old, so he retired at 50. He was a painter for GM right out of high school. Not only was he living on a good pension, but great medical care from the UAW as well.

Legacy costs are what upped the price of US cars. Why should I pay an extra $1,500 for my car so some retired 50 year old UAW worker can sit home watching his big screen? You don't have that with Japanese cars.

 

[Ray From Cleveland]

Damn the EPA wanting you to have clean water. LOL

Our water was fine. We have our own EPA in the state. They said it was fine. It was the feds that created new limits that of course are costly.

 

[Toddsterpatriot]

Me, because mine are higher quality, and yours are shit. Walmart and Target initially went with you, but after a slew of negative reviews, complaints, and returns by customers, they decided to go with mine. You still sell yours on Amazon, but most get 1 star reviews.

If the American consumer cared about quality, we wouldn't have half the Chinese crap in our houses that we have today. When it comes to widgets, there is only one way to make them. They are not a work of art. It's like paying a guy to turn nuts onto bolts. If you pay your worker $17.00 per hour to turn nuts onto bolts, and I'm paying my worker $9.00 to turn nuts onto bolts, your worker is not going to turn them any better than mine.

If you can't afford to pay your workers a decent wage...either make something else or make them yourself. Oh you can't make enough?

NOW you see the value of their labor. Pay them accordingly

If you can't afford to pay your workers a decent wage...either make something else or make them yourself.

If the workers add $10 an hour in value, what should their wage be?

 

[Ray From Cleveland]

Yes we know you don't buy American. That's on you.

Of course Ray they conned a conservative like you to buy japanese cars. Duh.

Just another way you attacked unions. You brought in foreign car makers and it didn't lower prices hardly at all.

As a truck driver, if I went to a new company I've never been to before, or knew nothing about, I could tell you within five minutes if they were union or not.

When I made the switch, our company was delivering to the car plants in the state. These workers Fd off so much, my employer finally had a new policy of refusing deliveries to any UAW plant. Unloading a truck takes anywhere from 30 to 45 minutes depending on how far away from the dock they have to go to drop the freight. Many times with the car plants, I was there four hours. He just couldn't afford to tie us up that long. We had other customers to service. I had to ask myself: Do I want these lazy MF's building my car?

So my last American made car was my last American made car. After 30,000 miles, my mechanic drove it more than I did. He was in my driveway fixing it yet again one day, and he was telling me how much better Japanese cars were. He said he seldom got calls from owners of those vehicles unless they were old or had a lot of miles on them. He told me since I drive all day, take note of the cars that are stranded on the side of the road and what brands they were. He told me Japanese put money into quality parts and engineering. US companies put their money in the UAW and workers, so they opt for cheaper, crappier parts.

My mechanic didn't realize he talked himself out of a customer, because the next car I bought was a Toyota Camry. It came with a 100,000 mile 7 year warranty, and I never used it once. Not once did it strand me anywhere like my Malibu frequently did. Not once did I have to take a day off of work because I couldn't get it started. I've owned two more Camry's since, and none of those three ever seen a tow truck.

That's what made me switch.

 

[Ray From Cleveland]

When you have a demand-constrained economy, consumer spending is the bottleneck.

but also taxpayers subsidize low wages

Then it's not a problem of companies not paying their workers enough, it's a problem with the politicians you elect who encourage people not to get ahead on their own.

 

[Ray From Cleveland]

If you can't afford to pay your workers a decent wage...either make something else or make them yourself. Oh you can't make enough?

NOW you see the value of their labor. Pay them accordingly

As I stated earlier, you are only worth as much as your employer can pay another worker to the same job and quality of work you do. It's what we all are worth. How am I supposed to pay them more when you go to the store and buy lower priced products over mine? Explain that one to me.

 

[Lesh]

If the workers add $10 an hour in value, what should their wage be?

That's not the equation

When you build a business model you calculate your costs and figure out your price point and revenue/profit based on that compared to volume.

Labor is a cost just as electricity or raw materials are a cost.

Now you can use inferior material but that's going to affect your price point. But you can't stiff the energy company and neither should you be able to stiff your employees. When you pay less than a living wage you are stiffing your employees. Minimum wages laws are put in place to prevent that but they have been politically manipulated in such a way that they aren't doing what they are intended to do.

 

[danielpalos]

No, they won't.

If I'm selling 100 widgets a day, and I'm paying my employees $9.00, there's not going to magically be increased demand for widgets if I start paying them $15 an hour. Furthermore, the people who then get paid $15 an hour aren't magically going to have more buying power, simply because prices will go up and their $15 isn't going to go anywhere close to what they thought...

How much minimum wage labor is employed making widgets? Someone going from nine dollars an hour to fifteen dollars will spend more money in their local economy. Anyone making fifteen dollars an hour could afford to eat out more often.

 

[danielpalos]

If the American consumer cared about quality, we wouldn't have half the Chinese crap in our houses that we have today. When it comes to widgets, there is only one way to make them. They are not a work of art. It's like paying a guy to turn nuts onto bolts. If you pay your worker $17.00 per hour to turn nuts onto bolts, and I'm paying my worker $9.00 to turn nuts onto bolts, your worker is not going to turn them any better than mine.

Firms outsourcing to countries with cheaper labor should still be taxed at the minimum wage rate in our economy. There should be no race to the bottom merely for cheaper labor.

 

[Toddsterpatriot]

If the workers add $10 an hour in value, what should their wage be?

That's not the equation

When you build a business model you calculate your costs and figure out your price point and revenue/profit based on that compared to volume.

Labor is a cost just as electricity or raw materials are a cost.

Now you can use inferior material but that's going to affect your price point. But you can't stiff the energy company and neither should you be able to stiff your employees. When you pay less than a living wage you are stiffing your employees. Minimum wages laws are put in place to prevent that but they have been politically manipulated in such a way that they aren't doing what they are intended to do.

That's not the equation

You shouldn't use value added when you decide what to pay in wages? LOL!

Labor is a cost just as electricity or raw materials are a cost.

Yup. If you're using $11 worth of materials and labor to make a $10 widget, you won't last long.

Just like you won't last long if the government mandates wages above value added.

But you can't stiff the energy company and neither should you be able to stiff your employees.

Stiff? Is that a definition from an Econ class? Maybe a business text you read? Please share.

When you pay less than a living wage you are stiffing your employees.

Living wage? Is that from the same text?

Minimum wages laws are put in place to prevent that

Prevent what? The least experienced and least skilled from getting a first job?