If you were a business owner faced with $10.10 minimum wage would you..

[1776]

If a small business has 50 minimum wage FTEs and now they are paying $3/hr more per employee...that comes out to $6000/month more in labor costs.

So the business has to come up $6000 more a month to cover those costs from savings or they need to fire some FTEs or they need to charge their customers more to cover those costs.

 

[Katzndogz]

I have a policy of not clicking on links for which the poster has neither the courtesy nor the intellectual capacity to explain their relevance in his own words.

Hey stay willfully ignorant. No matter to me.

Debunking the "myths" from your link

1.) Large increases in minimum wage has occurred when the economy is booming, not when its stumbling along. Increasing it by a small amount, say 50 cents, may be fine, as it has in the past since businesses can adjust. But increasing it by a large amount means people will get fired or not hired as businesses cannot adjust that quickly to absorb such a large increase.

2.) They never mentioned anything about small business. Instead, they completely ignored the criticism and focused on large businesses.

3.) Though true, teenagers generally enter the workforce at minimum wage jobs. There will be less of those, and will generally hurt the poor more as it will be more difficult to get practical job experience for those entering the workforce.

The CBO estimates that an increase to $10.10 will cost the economy 500,000 jobs.

The Effects of a Minimum-Wage Increase on Employment and Family Income - CBO

It's actually much worse than that. When minimum wage becomes a career level wage on which people can raise families and retire, they never move up. There are no entry level jobs available to young people as first jobs. That's the way it is in Europe and why the unemployment level among young workers is so high.

The young person has only two options, remain unemployed for life or work for free as an intern or volunteer sometimes for years before they get hired.

The youth unemployment rate in France is 25.60%. In Australia it's 17%. In Greece it is a whopping 65%.

That's what high minimum wage really causes.

 

[HenryBHough]

If a small business has 50 minimum wage FTEs and now they are paying $3/hr more per employee...that comes out to $6000/month more in labor costs.

So the business has to come up $6000 more a month to cover those costs from savings or they need to fire some FTEs or they need to charge their customers more to cover those costs.

Alternatively, lay one off and require the remaining 49 work a little harder if they want to keep their job.

Alternatively, lay off two, identify work that can be eliminated or contracted out, lower prices and increase positive cash flow.

 

[Faun]

Only if you call a declining labor force participation "prosperous".

The labor force participation rate has gone up and down following minimum wage increases. There is no correlation.

Oh we beleive you.

Imbecile.... the LFPR during years when there were minimum wage increases.

.... During all the wage increases, the LFPR increased between the early 90's and about 2000; and it's been decreasing ever since. There is no correlation.

 

[1776]

So it's "good" to fire 1-2 workers to pay others more per hour???

What if they are all equal workers and the business needs 50 FTEs to get the job done....who gets fired? The 25 year old white male or the 33 year old black woman???

When does the government get the right to dictate to a business on how many workers they need???

The business will most likely fire the white male to avoid a discrimination lawsuit...liberals like this outcome.

If a small business has 50 minimum wage FTEs and now they are paying $3/hr more per employee...that comes out to $6000/month more in labor costs.

So the business has to come up $6000 more a month to cover those costs from savings or they need to fire some FTEs or they need to charge their customers more to cover those costs.

Alternatively, lay one off and require the remaining 49 work a little harder if they want to keep their job.

Alternatively, lay off two, identify work that can be eliminated or contracted out, lower prices and increase positive cash flow.

 

[healthmyths]

I would pass a law that would FORCE a company to fire the CEO making MILLIONS vs firing a lowly janitor if they insist on doing things that way.

We're not describing a "CEO making millions" here bud!
FACTS deal with FACTS!!!

2,777,680 with 1 to 4 employees, 1,043,448 with 5 to 9, 632,682 with 10 to 19, and 526,355 with 20 to 99. If we assume 3/8 of that final figure falls in the 20 to 50 camp, then there are 197,250 with 20 to 50 employees. The sum total of all of those is 4,651,060, so because of the uncertainty with that final group we can assume the actual figure is somewhere between 4.5 million and 4.75 million firms with 50 or fewer employees.
Statistics about Small Business

But once again... why confuse people with FACTS when stupid idiots keep thinking like you!

How many of those 4.5 million companies pay their employees minimum wage?

FACTS again..
In 2011 1.7 million earned exactly the prevailing Federal minimum wage of $7.25 per hour.
About 2.2 million had wages below the minimum.

Together, these 3.8 million workers with wages at or below the Federal minimum made up 5.2 percent of all hourly-paid workers.
Characteristics of Minimum Wage Workers: 2011
From the above chart from the US Census Bureau, of the 3.8 million nearly 2 million are under 24 years old.

The problem that raising minimum wage causes is the decline in jobs for unskilled young people.
This is NOT considered by advocates of raising minimum wages and the robot janitor is a perfect illustration of the effect.
It happened with elevators. Even Obama recognizes what ATMs have done to teller business.
Keep raising the minimum wages closes the doors on unskilled labor to learn a skill.. like getting to work on time. Cleanliness.etc,...

 

[Moonglow]

I paid my people more than min wage. I paid them a living wage. yes. I did get less in the net zone, but I felt better about myself as a human.

 

[HenryBHough]

I paid my people more than min wage. I paid them a living wage. yes. I did get less in the net zone, but I felt better about myself as a human.

If that past tense ("paid") suggests you did an Atlas Shrugged, CONGRATULATIONS on having grasped reality!

 

[Sherry]

It has a snowball effect. If you have to pay the janitor 10.10, then you now have to increase other employees pay...since the secretary was making 10/hr, now you have to bump up her pay to 13. Now the IT assistant who was making 13, will now expect a pay increase as well. And so on and so on up the line. It's not just bringing up the bottom...all boats have to rise as a consequence. You're looking at cutting at least 1/3, and saddling the remaining employees to pick up the slack. So congrats on the pay increase, and hope it doesn't lower morale that it cost some of your peers their job.

 

[Sherry]

Even if I had a business and paid all of my employees above minimum wage, I would be forced to increase everyone's pay. All jobs currently being paid at 10/hr are paid that amount because they're deemed above minimum wage. Now if minimum wage is raised, then EVERYONE has to be compensated with a pay raise to maintain their status. This economy can't support that strain on small business owners.

 

[HenryBHough]

Even if I had a business and paid all of my employees above minimum wage, I would be forced to increase everyone's pay. All jobs currently being paid at 10/hr are paid that amount because they're deemed above minimum wage. Now if minimum wage is raised, then EVERYONE has to be compensated with a pay raise to maintain their status. This economy can't support that strain on small business owners.

Isn't that plan?

 

[Sherry]

Even if I had a business and paid all of my employees above minimum wage, I would be forced to increase everyone's pay. All jobs currently being paid at 10/hr are paid that amount because they're deemed above minimum wage. Now if minimum wage is raised, then EVERYONE has to be compensated with a pay raise to maintain their status. This economy can't support that strain on small business owners.

Isn't that plan?

Too crash the economy??

 

[OnePercenter]

Even if I had a business and paid all of my employees above minimum wage, I would be forced to increase everyone's pay. All jobs currently being paid at 10/hr are paid that amount because they're deemed above minimum wage. Now if minimum wage is raised, then EVERYONE has to be compensated with a pay raise to maintain their status. This economy can't support that strain on small business owners.

Isn't that plan?

You're Canadian....GO AWAY!

 

[HenryBHough]

Even if I had a business and paid all of my employees above minimum wage, I would be forced to increase everyone's pay. All jobs currently being paid at 10/hr are paid that amount because they're deemed above minimum wage. Now if minimum wage is raised, then EVERYONE has to be compensated with a pay raise to maintain their status. This economy can't support that strain on small business owners.

Isn't that plan?

You're Canadian....GO AWAY!

So why do you hate Canadians?

Is it all Canadians?

Or just French-speaking Canadians?

Or perhaps Candadians who whip American asses in sports?

 

[Moonglow]

I paid my people more than min wage. I paid them a living wage. yes. I did get less in the net zone, but I felt better about myself as a human.

If that past tense ("paid") suggests you did an Atlas Shrugged, CONGRATULATIONS on having grasped reality!

I no longer run a business..Do you get cramps from shrugging like Atlas?

 

[OnePercenter]

Isn't that plan?

You're Canadian....GO AWAY!

So why do you hate Canadians?

Is it all Canadians?

Or just French-speaking Canadians?

Or perhaps Candadians who whip American asses in sports?

You spelled 'Canadians' wrong.

 

[Moonglow]

You're Canadian....GO AWAY!

So why do you hate Canadians?

Is it all Canadians?

Or just French-speaking Canadians?

Or perhaps Candadians who whip American asses in sports?

You spelled 'Canadians' wrong.

We don't have spell checker in our poor nation, thanks to Oblama!

 

[OnePercenter]

So why do you hate Canadians?

Is it all Canadians?

Or just French-speaking Canadians?

Or perhaps Candadians who whip American asses in sports?

You spelled 'Canadians' wrong.

We don't have spell checker in our poor nation, thanks to Oblama!

Obama had something to do with spell checkers in Canada? Really?

 

[BlackSand]

Based on the standard salary pay of 40 hours a week at $11.38 ... Then $10.10 is $1.28 shy of salary and overtime exempt employees.
That means that if you have 4 janitors ... Then all you have to do is fire 1 and keep 3 at $11.38 an hour promoting them to salaried Shift Custodial Managers.
In other words you could raise their pay higher than minimum wage ... Fire someone ... Actually save money in payroll ... And not have to pay any overtime for covering the lost labor hours.

.

 

[Faun]

We're not describing a "CEO making millions" here bud!
FACTS deal with FACTS!!!

2,777,680 with 1 to 4 employees, 1,043,448 with 5 to 9, 632,682 with 10 to 19, and 526,355 with 20 to 99. If we assume 3/8 of that final figure falls in the 20 to 50 camp, then there are 197,250 with 20 to 50 employees. The sum total of all of those is 4,651,060, so because of the uncertainty with that final group we can assume the actual figure is somewhere between 4.5 million and 4.75 million firms with 50 or fewer employees.
Statistics about Small Business

But once again... why confuse people with FACTS when stupid idiots keep thinking like you!

How many of those 4.5 million companies pay their employees minimum wage?

FACTS again..
In 2011 1.7 million earned exactly the prevailing Federal minimum wage of $7.25 per hour.
About 2.2 million had wages below the minimum.

Together, these 3.8 million workers with wages at or below the Federal minimum made up 5.2 percent of all hourly-paid workers.
Characteristics of Minimum Wage Workers: 2011
From the above chart from the US Census Bureau, of the 3.8 million nearly 2 million are under 24 years old.

The problem that raising minimum wage causes is the decline in jobs for unskilled young people.
This is NOT considered by advocates of raising minimum wages and the robot janitor is a perfect illustration of the effect.
It happened with elevators. Even Obama recognizes what ATMs have done to teller business.
Keep raising the minimum wages closes the doors on unskilled labor to learn a skill.. like getting to work on time. Cleanliness.etc,...

You didn't answer my question. I didn't ask how many people earn minimum wage ... I asked how many of the 4.5 million people you mentioned earn minimum wage.