Minimum Wage primer

@joe-shmo said
How do you see a doubling of the minimum wage playing out? Who is going to absorb the loss of profit?

[hidden]Hint: It will be the same people who have always absorbed the loss of profits...the working class.[/hidden]

A $15 minimum wage was just a way for Biden to get votes. He knows congress will never pass a bill that reaches his desk, not right now. Maybe when inflation is hurting everyone they will and $15 will not buy much anymore.

Businesses pass the wage expense to the consumer as much as they can. That includes the people making minimum wage. They buy stuff too.

What happens when the cost of OSB chip board sheets increases in price 300% like it did last year in the USA? Buildings become more expensive, right? Building are still being built though, right?

Wages are not the only increase in expense that businesses have to deal with. How is a doubling in minimum wage any worse than a doubling of gas and diesel? That has happened after GW Bush invaded Iraq. Did it ruin the economy? Why is that an acceptable higher expense while minimum wage is not?

If the higher fuel prices cost more than a minimum wage hike why can't the economy handle it? Explain the double standard.

@AverageJoe1 yup, leave it to the state and you get the Texas failure we see today. Right now we have welfare for corporations who pay so little that their employees require your tax dollars to survive. The new minimum wage will be instituted over time. It will give a big boost to economy as workers will have more disposable income. It's the Trickle Up economic picture which is common sense. The Tinkle Down or Golden Showers economic method just makes those already rich richer and does not grow the middle class. Why would you trust people you can remove from office with your vote or even impeachment less than corporations who have zero interest in the public interest?
I would prefer to see a federally mandated minimum wage tied to the standard of living in each state. $15/hour is probably too low if you live in Alaska and too high if you live in Mississippi.

@phil-a-dork said
@AverageJoe1

Cost of materials comes into play too.
If I buy one million pounds of beef I will get it at a cheaper price than you because you are only buying one hundred thousand pounds of beef.

In my country a burger is a lot more than the prices you gave as examples because we have a low population so we buy less wholesale meat and our taxes are high.

But that doesn't really work because NY has a high population and high prices 🤔

I guess I don't know 😔

Thank you, at least you help me point out the problem. Again this is a different country. Yes when you buy in bulk you get A better deal. I don’t get where you’re going with your comment, but it still remains the $15 all the way across the country is worth more or less depending on what state you’re in. The federal government is therefore representing the citizens of this country to their detriment if they stick their nose into it .
Everyone please notice that Biden has just backed off of the $15 wage, I may warm up to him. Also the tuition 10,000 instead of 50,000. Yes I will warm up to Joe if he keeps this up .

@metal-brain said
A McDonalds hamburger costs $4.82 in Juneau Alaska because people are paying that price by choice. Maybe it is because there are not enough cattle in Alaska and it is farther to ship ground beef.

That has nothing to do with the minimum wage. Minimum wage has been outpaced by inflation. This is the most simple reason to have a minimum wage increase. You are unwittingly supporting economic slavery using flawed logic.

That won’t fly, metal brain. You are way off track from a simple point that a dollar in one state is worth differently in another state. You can write all you want to about what you just did but the fact is your money will go a lot farther in Arkansas than it will in Alaska. You liberals just wear us out. I have no idea why you wrote that

@no1marauder said
This is economic illiteracy; IF a McDonalds in Conway, Arkansas could profitably sell a hamburger for $4.82, it would.

Google "supply and demand", Joe.

Easy arauder. If they could sell it for $20 , they would. You make absolutely no point germaine pertinent to this EXTREMELY simple fact.

Posture all you want and pretend that the decision hinges upon how kind pols are to low wage earners...
The truth is, Big Labor have contracts where COLA's kick in as soon as the minimum wage increases.

"And for those of you in Rio Linda..." - Limbaugh

@phranny said
@AverageJoe1 yup, leave it to the state and you get the Texas failure we see today. Right now we have welfare for corporations who pay so little that their employees require your tax dollars to survive. The new minimum wage will be instituted over time. It will give a big boost to economy as workers will have more disposable income. It's the Trickle Up economic picture which ...[text shortened]... h state. $15/hour is probably too low if you live in Alaska and too high if you live in Mississippi.

Sounds like a lot of manipulation (economic) for a country with a free society where supply and demand is the rule, and people set their own prices. Could it be that you want the government to get involved in that, actually decide how much money somebody should get depending on where they work. This is just unbelievable. Y’all will say things like that but not go one step further to consider the unintended consequences . Have you government people ever thought about stepping back and letting people matriculate and do business and barter and exchange in a normal setting without some regulation telling them what in the hell to do. That is the best question that can be asked on this thread.

@AverageJoe1. A really cool thread that we have done, I don’t think anybody get mad at anybody and we all learn something. But having gone through all of this, the entire answer about the minimum wage can be found in the very first paragraph that I wrote ....there is no refuting the situation of why a minimum wage across all 50 states would not work properly
also, when you mention relief act or general welfare, you’re getting away from the tenor of these discussions. Usually we are discussing concepts, commonsense logic, whatever. You look at a situation, and you think, what is best. You don’t drag out all the links and the law and “..have you read the constitution? “. That is not the gist of the debates.

@averagejoe1 said
That won’t fly, metal brain. You are way off track from a simple point that a dollar in one state is worth differently in another state. You can write all you want to about what you just did but the fact is your money will go a lot farther in Arkansas than it will in Alaska. You liberals just wear us out. I have no idea why you wrote that

Supply and demand. If you can prove a monopoly I will consider it, but you have not done that thus far.

@averagejoe1 said
Yes, to follow up, when they find out that the guy in Arkansas has more money to spend, they probably will raise the price of his hamburger. Economics 101

the minimum wage in Dc is already 15, somehow the big mac hasn't risen in price to match the ludicrous alarmist crap you people are advocating. And if it rises in price, good. Let mcdonalds' leather boot of a burger patty compete with other burger joints that use real cow. And let consumers decide if they want to spend their money on a 30$ big mac(like you dumbasses think the new price will be). In Denmark the McDonald's worker minimum wage is 22, remind me what the price of a big mac is there?

The fact that you think an increase in payroll for mcdonalds will bankrupt them unless they increase the burger prices is another proof 9f how dumb you are

@kewpie said
Our minimum wages are different state by state. What's the big deal?

They can be different after the minimum wage increase as well. But no less than 15

@averagejoe1 said
A McDonalds hamburger costs $4.82 in Juneau Alaska. The same sandwich is $2.24 in Conway Arkansas.
If Bill in Alaska eats one a week, that is $250.64/yr
If John in Arkansas eats the same, that is $126.48//yr.

So, roughly twice as much is the cost of living for poor Bill. But he and John BOTH make $30,000 a year. Bill will struggle, John will have enough lefto ...[text shortened]... es...like our country should do for everything, except for maybe being in charge of the atomic bomb.

Funny how so many countries do have a minimum wage and don’t have all these problems you constantly anticipate.

@averagejoe1 said
Easy arauder. If they could sell it for $20 , they would. You make absolutely no point germaine pertinent to this EXTREMELY simple fact.

Dumbass, you're claiming they will HAVE to sell higher to recoup their losses if the minimum wage is increased.

@shavixmir said
Funny how so many countries do have a minimum wage and don’t have all these problems you constantly anticipate.

technically they do too. The same one since the 80's

@averagejoe1 said
@AverageJoe1. A really cool thread that we have done, I don’t think anybody get mad at anybody and we all learn something. But having gone through all of this, the entire answer about the minimum wage can be found in the very first paragraph that I wrote ....there is no refuting the situation of why a minimum wage across all 50 states would not work properly
also, w ...[text shortened]... he links and the law and “..have you read the constitution? “. That is not the gist of the debates.

"we all learn something"
not you
never you.

"there is no refuting the situation of why a minimum wage across all 50 states would not work properly"
wtf are you talkin about. you have a minimum wage right now. We're just saying it is too damn low. Even 15 is too damn low for half the states and barely adequate for the other half but it's a damn start.