Long Beach just mandated a 4 dollar raise for grocery store owners. Two major grocery stores promptly closed leaving all employees out of a job and out of job benefits.
If they need a $7.25 minimum wage to stay in business, they deserve to close
Good. The two biggest grocery stores closed. Yaaay. The people are out of a job. The neighborhood now has to go elsewhere to shop. Meanwhile the Kroger company will not feel a thing. It's a win lose in all the right places.
If Kroger cannot operate without $7.25 wages
They deserve to fail
That's fine.... but just understand that if every business that deserves to fail, fails, then you will have mass unemployment and a great depression.
The people in Greece, said the same thing, which is why they had a minimum wage that was tied to inflation, and the result was the entire country imploded.
Guess what they did? They cut the minimum wage. Guess what happened? Unemployment in the 30% range, started to fall.
Again, you can say that, but them failing just means people are unemployed.
See you seem to be operating under the strange idea that if all the companies that can't pay $15/hour fail... then all those unemployed people will just magically find jobs that pay $15/hour. No. That's not how it works. If your labor isn't worth $15/hours, then you just stay unemployed.
You can mandate a minimum wage, sure. But you can't mandate that customers pay $15/hour for labor that isn't worth $15/hours. Thus those people just.... don't have a job.
Save me the drama
Minimum wage has been increased for 80 years. Business survived, the market adjusted.
We have not increased the wage in eleven years. Low wage workers have suffered. They have used debt to replace wages that haven kept up with inflation
biden made a promise, he best keep it...WAGES NEED TO GO UP AND IF BUSINESS WANT TO LEAVE...BYE!!
If business want to leave.... then your wages don't go up, do they? Bye?
Did you miss what happened in Venezuela when they made the same demands on business there?
View attachment 452635
Do you really want to be eating out of the garbage?
10 Billionaires Made Enough Money During The Pandemic To Vaccinate The Entire World
They could save millions from poverty with what’s left over, according to a new Oxfam report on inequality and the coronavirus.
By
Amanda Schupak
Right, and the super wealthy were making jobs and wealth in Venezuela. Left-wing people chased them out of Venezuela. That's why they are eating garbage.
Saying 10 Billionaires made enough to vaccinate the world.... first I don't think that's true, but even if it was.... so what?
Really... so what? It's not your money. It's theirs. Can I make demands on what you do with your money? No? That's true of us all, right?
Say you give up a good job in NYC, and you move to Seattle, and say you work day a night, 7 days a week, sometimes until 4 AM in the morning, to ship out books. Your friends and relatives think you are insane. Literally they thing you have lost your mind, because you went from a plush office in New York City, to having a door, and actual wooden door as your desk.
But you work your butt off. You work 7 days a week, for 10 years, and build your company into an international company called Amazon.
Do I get to tell you what you do with your money?
Now if you want to give your money for vaccines, you are free to do so... but do I, and others like me, get to dictate what you do with your money, after you worked so hard?
So I ask again... so what if Bezo and others could vaccinate the world? So what?
By the way, I don't think that is even true.
The billionaires of the world, have most of their wealth in stock options. In other words, it's not cash.
For example, Bezos total cash compensation as CEO was only $81,840, just as it was in 1998.
Amazon.com Inc. undefined filed its 2019 proxy statement Thursday, showing that Founder and Chief Executive Jeff Bezos is still making $81,840 a year in base...
www.marketwatch.com
Amazon.com Inc. filed its 2019 proxy statement Thursday, showing that Founder and Chief Executive Jeff Bezos is still making $81,840 a year in base salary, just as he has for decades. His base salary in 1998 was also $81,840. Bezos total compensation last year, which includes no stock awards, was $1.68 million. The $1.6 million in "other compensation" includes costs to the e-commerce and cloud giant of security arrangements for Bezos, in addition to security arrangements at business facilities and for business travel.
In other words, a husband and wife truck driver team, earned more in real cash, than Jeff Bezos.
So where do people get this idea that Bezos made billions on billions to pay for vaccinations?
Because Bezos owns the stock to Amazon. After all.... he made the company. And those stocks go up and down in value.
Jeff Bezos on the 2024 The Richest Person In Every State
www.forbes.com
What happens is, the value of the company goes up... and they say "Bezos made ##### Billion a minute!"... no he didn't. His company went up in value, but Bezos didn't see a single penny. Bezos hasn't had a pay raise in 20 years. He's still earning $81,840 a year, just like he did two decades ago.
The only thing that has increase, is that his compensation includes security and travel costs. Plane rides, and armed guards. Can you pay for vaccines with airline tickets and security cameras? No.
So factually speaking, the article isn't even accurate.