In the grand scheme of things, what will a $15 minimum wage change for the nation?
>>65525691
Inflation
Less jobs.
Absolutely nothing.
People will get more money and inflation will go up so it will render the rise null.
>>65525691
rent, and it devalues the jobs that are currently paying 15$...
>>65525803
Elaborate briefly on inflation. What will 'inflate?' Housing costs? Bills?
>>65525691
sort term profit.
long term loss of jobs to foriegn countries
>>65525922
Burger costs $3 on current wages, company makes burger now cost $10 to cover cost of paying worker $15
>>65525691
Mixture of inflation and increase unemployment. The market will always see 1 hour labor at McDonalds as the same in terms of buying power regardless of if you got paid $2 or $100 for it.
>>65526029
Interesting. Why would jobs go to foreign countries?
Actually, aren't they already being outsourced? And it has to do mainly with people like Ramjeet Patel who will work for pennies right?
>>65525922
the cost of food which is one of the more important things. not just fast food places either. actual grocery stores. grocery stores don't make much profit anyway. the cost of food will be passed onto the consumer when you start paying that idiot who thought he could make a career out of stocking $15/hour. food prices are already increasing quarterly without paying retards that much money
>>65525906
>inflation will go up
wages and prices go up at the same time with inflation moron
>>65525691
Increase unemployment and make it next to impossible to enter the workforce.
Companies will either go out of business or outsource their labor.
The demand for labor will decrease, and the supply of goods/services will increase.
Economic stagnation, making the middle class vanish. You'll have elites running corporations, perpetuating itself on nepotism. A poor working class, dependent on the government.
>>65526165
It's because its more cost effective to have some kid in Thailand make my shoes and clothes than someone in america
If gov stopped taxing so much more companies would have workers in america make their stuff
It wont do anything but lose people jobs. If raising the minimum wage works why not just raise it to 40$/hr
>>65525922
>What will 'inflate?'
prices
that's what inflation is
I don't have time to teach an economy class here
>>65526103
This. Everything will go up in price so companies can afford their employees and still manage to turn a profit.
Expect more outsourcing and a lot of jobs lost, probably a lot of businesses will also shut down especially mom and pop shops who can't afford to pay higher prices.
>>65526670
Or, if the government slapped companies that outsourced jobs but claimed to be based in the US with huge tariffs, that'd work too.
>ugggh but then goods would cost more
Competition and the limits to what people will spend will correct that.
>>65525922
prices will rise because faggots think everyone is getting more money when in fact more people will be let go and will not be able to afford more and buy less. Then there's the people with no jobs before and now can't buy shit.
>>65526611
yeah, so all the people who are bitching about how 7.25 isnt a living wage will just start bitching about how 15.00 isnt a living wage
>>65526103
Prices will go up but what you described isn't inflation
>>65527253
So literally wash, rinse, repeat?
If raising the minimum wage isnt the solution then what is? Our money is already being devalued so the minimum wage has less buying power now than it did yesterday. The reality is that you will always have low iq drudges who have to work menial jobs and using welfare as a round about way to make up the difference doesnt help anyone.
>>65525691
>In the grand scheme of things, what will a $15 minimum wage change for the nation?
It will make everyone who's marginal productivity is worth less than $15 an hour permanently unemployed. Seeing as that is a fair number of people, it's going to mean significant unemployment. At least until the insanely low interest rates and other fed shenanigans make inflation rise enough to counteract the worst effects of it.
Really though I'm sick of even talking about basic economics with leftists, they willfully refuse to learn anything. At this point if you believe in shit like governments setting price controls you need to be thrown out of a fucking helicopter or deported to Cuba.
Prices go up to cover costs
Employee hours go down or some lose their jobs
Some businesses won't be able to cover the increase so they'll be forced to close.
I remember when Obama Care passed, my job decreased my hours from four to two. A minimum wage increase would probably have meant me losing my job altogether
>>65527628
>Free the markets, and I'm talking all of them. Get rid of zoning laws, let insurance companies compete over state lines, etc etc. free my shit up senpai
>Lower taxes and simplify the tax code
>Raise interest rates so people can finally start saving and won't be a debtfag
>>65527524
yes 100%
like >>65526861 said if raising the minimum wage actually worked why wouldn't we just make it $40/hr or $200/hr
generally speaking economists think price floors (like the minimum wage) are bad
>>65527643
ACAs 30 hour loop hole has done more damage to the low-income worker than any other bullshit our government has done in the last 100 years.
>>65527643
>Employee hours go down or some lose their jobs
>some
try like somewhere between 38%-50% of workers making less than less than $15.00
>>65525691
Think about it from the point of view of a government contractor.
Cost of labor goes up driving up your operating costs. You cut corners wherever you can but despite laying people off it's still going to cost you money.
So you just take it on the chin and trim a bit off your profits right? You're a rich government contractor type and surely you can spare a bit for your fellow man.
WRONG, SKELETOR! You'd be a shitty businessperson if you did that and your shareholders would be pissed.
You up the cost of the bid, passing the cost on to the government and by extension the taxpayers. Some of whom are your employees. So your employees get paid more, but then pay more in taxes that are used to pay you to pay them the higher wages.
It's a fucking toilet bowl, the shit just swirls around and around.
>>65527253
If you don't live in an expensive area, keep away from credit, and stay single, you can live off minimum wage. The people making minimum wage as an adult are the same people that are too dumb to make the right choices in life though.
>>65525691
nothing
prices will go up accordingly, you will be able to buy the exact same amount of goods
rest of the salaries will go up the same factor, others will still earn N times more than you
you will only end up with huge dollar inflation
ie. you will lose your savings
top keks on you stupid goyim
rise min. wage
ban prises rise
less profit for companies
profit ????
>>65525803
/thread
>>65525922
use google retard
and educate yourself before you speak
>>65528557
>If you don't live in an expensive area
people are really touchy about "muh high costs of living" and get mad if they get priced out of somewhere they want to live, like they think it's a right to be able to live there. Look at San Francisco, it's a shit-show right now with a bunch of food bloggers getting priced out by actually successful tech workers and getting super fucking pissed about it, not realizing that the tech workers moving in creating markets for cool restaurants and shit is what makes the broke yelp workers want to live there in the first place.
>>65528827
>trying to shut down discussion
Suck a dick and fuck off.
Inflation, hour cutbacks and full time position losses.
>>65525899
More specifically, less legal jobs in the high job floor zone. Labor will shift to the shadow economy and outside the zone as much as feasable. Automation will be more financially attractive.
Hardest hit will be entry level employees.
>>65525922
Housing costs, bills, cost of living, food prices.
>>65526165
>Interesting. Why would jobs go to foreign countries?
Because the price difference between the current wage and 15 is higher than the cost of transporting shit from mexico, and the relocation costs.
>And it has to do mainly with people like Ramjeet Patel who will work for pennies right?
Oversimplified. Jose, who fled his 5 dollar an hour Guatemala to live illegaly and work in America for 14 an hour in a factory farm. Jesus who works in a factory on the US mexico border. Chang in China.
>>65527628
Define "solution"? What are you attempting to accomplish? There's a massive, exponential increase in population, particularly in shitty poor countries. This results directly in a reduction in the value of labor, because the additional demand that the new kids create is smaller than the labor they produce via mechanization.
Slapping a price floor on the labor doesn't affect that dilution.
We could go "Final soluton", but the only country that's come close to pulling that off is China.
>>65526165
more out sourcing also companies wont be able to compete
>>65525922
Unemployment
>>65525691
It hurts small business.
>>65528797
>less profit for companies to pay their workers with
>>65525922
if rent is 500$ but people only earn 1000$ then only one person will probably rent it.
if rent is 500$ but people earn 1500$ then you will probably see multiple offers and eventually someone will offer 600$.
>>65529851
i mean after they pay workers and all other staff ...taxes etc ?
>>65525691
Inflation, unemployment, instability.
Dollar value will decrease
People at rular areas earn less
Rental jews will raise rents
>>65529998
profit is used to pay workers
companies reinvest profits they don't just make a bunch of money and hold onto it for no reason
Say a place has five employees being paid $8 an hour means they're paying the $40/h. Now minimum wage goes up and all of a sudden they have to pay them $75/h. They'll either have to double their prices or fire two employees to break even.
>>65530553
no savings? lol
It would be good for the robotics industry.
Bad for all the short sighted imbeciles who make minimum wage since they'll be out of a job, but hey they don't make minimum wage because of their critical thinking skills.
>>65530553
Employee costs are factored into the price of services and products. Profit goes into savings for emergencies such as repairs for buildings or other employee benefits but mostly to shareholders.
>>65525691
More corporations abusing H1-Visas to bring in shitty foreign workers.
Thats all it will do
>>65525691
Large scale unemployment
Inflation
Depression 2.0
Large scale welfare state increase
>>65525691
>what will a $15 minimum wage change for the nation?
Prices of everything will double if minimum wage go from 7.50 to 15, it's basic math.
>>65525691
http://vocaroo.com/i/s1TzqL3GR9Q4
#cantwaittofeelthehern
