Hope they have nice soft asses to pinch. No risk of lawsuit - at least I don't think so.
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$15 dollar hr minimum wage?
- Thread starter sluggercatfan
- Start date
The pandemic makes any attempt to analyze this impossible. But if you look at wage increase vs. COLI increases for last 20 years, is what you say true? Don't know.
This:
For most U.S. workers, real wages have barely budged in decades
Adjusted for inflation, today's average hourly wage has about as much purchasing power as it did in 1978. Most wage increases have gone to the highest earners.
www.pewresearch.org
as I read says wages & inflation have been pretty steady for 40 years, not getting worse.
It isn't incomplete at all. You don't need a level of increase to know what will happen.
No business gains a competitive advantage over another? You think the mom and pops across the country have the means to stay afloat paying the same wage as your box chain who has the resources available to cover the increases?
Perfect analogy is what has happened right here in Lex during the draconian lockdowns of restaurants, especially when the recent one took place. BHG and a few others took advantage with tents, and others simply had to lock the doors for good.
I'll add that self-checkout is a lot less boring than standing there watching someone else do it.
Interesting. The biggest objectors to raising the minimum wage usually are people making the bigger bucks. Why is it that the raises given to the people making the least money is what drives up prices but the big money and perks paid to the executives is seen as irrelevant to prices?
The same people that want minimum wage increases to help the poor are the same people that think we should continue importing cheap labor by the hundred thousands (if not more) yearly.
It’s because businesses do the hiring and provide the jobs and can determine salaries. I would also say no tax breaks or corporate welfare should exist at the same time.
Minimum wage jobs at one time were entry level jobs........It was a starting point.......not a job that anyone though they could stay at for the rest of your life.......what has changed is people for what ever reason are stuck in those jobs and are not climbing the ladder........but the want more money........
Just skimming through, 2.1% of the workforce, however 1.6% make below minimum wage, meaning 3/4 are restaurant servers that end up making more with tips usually so we’re talking about .5% of the workforce. And it says they are younger, more work part time, are single, without kids, and don’t vary in terms of ethnicity (meaning not more minorities).
It also says the minimum wage worker used to make up 13.4% of the workforce in the 70s, meaning the majority of businesses now pay more than minimum wage.
So we’re arguing about the 17 year old white kid working at McDs for the summer I guess? Who is it benefiting to pay him more? Who is it hurting? Is there even a point with so few people effected? Does this make it easier fir the single mother struggling to make ends meet that has been used as an example in this thread?
principle
I hear ya, but unless you tell me how government is going to reduce spending because they've stopped these subsidies, it's an endless money pit. Unemployment went down when the $600/wk relief checks stopped. It's going back up with $300/wk checks that Biden plans to raise to $400. So what savings?
Why does the min. wage concept even exit? No one forces anyone to work for $8/hr.
False
What is the federal minimum wage for tipped employees?
The federal minimum wage is currently $7.25 per hour. This is the lowest amount you can pay employees per hour of work. However, the Fair Labor Standards Act (FLSA) makes an exception. Employers in certain industries can pay eligible employees (e.g., waiters) who receive tips a lower minimum wage than non-tipped workers.
Under federal law, tipped employees are those who regularly receive more than $30 per month in tips.
To pay tipped employees at a lower hourly rate, employers can claim a tip credit toward the federal minimum wage.
A tip credit reduces the hourly minimum wage for qualifying employees by the amount of the credit. The maximum tip credit employers can claim is $5.12 per hour.
Pitt is my favorite stadium. Have done Cleve too. Several years back did a Wrigley/Brewers/WSox trip.
There are thousands, tens of thousands of unfilled skilled jobs, trade jobs.
The left as always thinks throwing money at it will fix it. But problems in family breakdown, culture, education all play a role in wages.
Tips | U.S. Department of Labor
A tipped employee engages in an occupation in which he or she customarily and regularly receives more than $30 per month in tips. An employer of a tipped employee is only required to pay $2.13 per hour in direct wages if that amount combined with the tips received at least equals the federal...
True.
Tips
A tipped employee engages in an occupation in which he or she customarily and regularly receives more than $30 per month in tips. An employer of a tipped employee is only required to pay $2.13 per hour in direct wages if that amount combined with the tips received at least equals the federal minimum wage. If the employee's tips combined with the employer's direct wages of at least $2.13 per hour do not equal the federal minimum hourly wage, the employer must make up the difference. Many states, however, require higher direct wage amounts for tipped employees.
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Welcome to the Democrat playbook . Make everyone and everything so miserable they think the Govt is their only savior . It’s playing out pretty much day by day right in front of our faces.
IMO because the min wage hasn't been raised since July of 2009, while the cost of living has risen considerably it simply has become impossible for employers to find and retain people to work at $7.50 and below. If you lifted the min wage than it would effect people making $8, $8.50 $9. per hour etc.
What should the rate be? conservative economics escalates the 2009 number of $7.25 to $8.70 using BLX indexes for cost of living, while liberal economists claim it should be $22.50 based on increases in production. In the meantime politicians have grabbed on a $15 figure which is based on going back to the original 1968 numbers when it was put in and escalated it forward to the present time.
As I said I think it should be based on the lowest cost of living area in the country and let other states, and local governments raise it more if they deem appropriate. By my way of thinking I think somewhere around $10 is the sweet spot.
Well thank the sweet Lord we have Deeefense here to set market prices for us. What did we do before this grand genius bestowed his knowledge upon the world?
Another thought i had was how badly are our poor people hurting in our country ? do they access to hot water / AC food shelter etc etc ? For the most part yes . As a guy who has earned everything I have , from farming tobacco , to cleaning dumpster bins at 16 , to working every weekend while in college , to owning a business I can’t really work up a cry for those that claim poverty and set around and watch Netflix 24/7 while drinking 12 sodas a day , and smoking 200 bucks in cigs a month . Call me whatever , don’t care . You want see mass pain and poverty , look to those countries with socialism and no social safety nets .
You certainly have strong opinions on this subject I can tell that!
may have been said already. if you raise the minimum wage inflation will catch up so those people will be in the same place in 6-12 months. but in the mean time those making over $15 will lose purchasing power and be brought down to poverty.
These arguments are not new. In 1914 Henry Ford raised his workers to $5 a day, an unheard of sum at the time. But he did it so that his workers could afford to buy the cars he was making. Thus creating his own market which proved remarkably successful. As someone stated above raising the minimum wage mainly helps those at the very bottom rung. I don't see a huge problem with it. Maybe 15 is too high but something is in order.
Don’t forget about unlimited internet access on their iPhone.
Honestly, I doesn’t matter. Your stat was very eye opening. It’s .5% of the workforce. It won’t cause inflation because it doesn’t effect enough people like I thought. It doesn’t effect cost of living because the people making it aren’t paying for their living. It’s just a meaningless political talking point that gets people arguing while more important things get overlooked. So I’m bowing out of the conversation because it’s an insignificant action that doesn’t really effect anything or anyone.
I understand your point but there are a whole lot more than that making between $7.25 and $15 per hour, a lot more than a 1/2 of 1% of the workforce
I don't think the world has spent enough time listening to Thomas Sowell.
How is it an incomplete theory?
If MW > equilibrium wage, them QS labor > QD labor. If MW < equilibrium wage, then no affect.
There's a theory out there that the Fed's use of activist monetary policy is a contributing factor to real wages being sluggish.The pandemic makes any attempt to analyze this impossible. But if you look at wage increase vs. COLI increases for last 20 years, is what you say true? Don't know.
This:
For most U.S. workers, real wages have barely budged in decades
Adjusted for inflation, today's average hourly wage has about as much purchasing power as it did in 1978. Most wage increases have gone to the highest earners.
as I read says wages & inflation have been pretty steady for 40 years, not getting worse.
Because if the increase is too excessive business will fold and layoffs will occur, but if the increase is moderate, most business will adjust their pricing, and/or choose to absorb the increase and stay in business, with the same level of staffing.
You can figure out a better way to help those at the bottom than just raising minimum wage, taxing the wealth out of the successful to give UBI or "free" healthcare or whatever other totally idiotic and poorly thought out ideas from the idealistic left.
You're basically just begging to be poorer, to feel good about yourself for doing nothing.
You're basically just begging to be poorer, to feel good about yourself for doing nothing.
It took me 20 years to earn $15/hr and now they will just give it to every 16 year old teenie bopper
Y’all remember that one time two months ago when we “voted out” the president that oversaw the largest adjusted wage gain for the bottom 20% in 40 years?
That was awesome.
That was awesome.
That obviously depends on some combination of the elasticity of labor demand and the amount of market power the firm has in the output market.
I trust your expertise on these matters as you're out in the business world, but I'm paying $10 for a combo meal right now. Where's that money going? It was 4 or 5 bucks at the start of the last decade.
