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Posted by m hamilton (Member # 127) on 01-15-2021, 06:59 PM:

Does moving the minimum wage up to $15/hour really improve the economy?

My opinion: Going to a fast food restaurant will be as much or more expensive than a sit down restaurant.

Instead of Subway's slogan being $5, $5 foot long! It will be $10, $10 six inch!

This will probably close another 350,000 small businesses! There's no way that a small business can stay afloat spending that kind of money for labor costs!

Posted by MEL (Member # 141) on 01-15-2021, 07:02 PM:

The libs don't seem to understand that when you pay someone more money you have to make it up somewhere and that will be in prices of whatever you sell. Everything will go up and those that don't get a raise will be paying more too. So the $15 an hour then is like the old $8-$9 an hour !!!
Plus I agree with you that a lot of small businesses will go out of business.

MEL

Posted by Tiptree (Member # 844) on 01-15-2021, 07:05 PM:

Suppose you run a restaurant. Currently, you pay your employees $7.50 per hour on average. You restaurant is barely profitable.

Now, the state mandates you must raise your wages to $15/hr. Guess what will happen?

The business will lay off half its employees, scale back the operations, and maybe invest in automation to replace the lost workers.

This will play out across the nation, with some companies profitable enough to absorb the extra costs, while others must scale back the number of employees. But, if it is a publicly traded company, the stock price will get HAMMERED when the next earnings are reported, and profits get sliced.

Bottom line: Raising the minimum wage will leave more unskilled workers unemployed (which is already the segment with the highest unemployment), it will make 'entry level' jobs scarcer, and make starting out life that more difficult for our younger generation. The REAL goal? To drive more people onto government support, and thus into the loving arms of the democrat party.

[ 01-15-2021, 07:06 PM: Message edited by: Tiptree ]

Posted by PaulCat (Member # 513) on 01-16-2021, 09:04 AM:

Is the minimum wage a federal or state law? Seems to me like the states should be the one's setting their own minimum wage.

Posted by Old Norm (Member # 1482) on 01-16-2021, 10:16 AM:

It is currently State law. Our democrat friends in DC want to make it Federal.

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Posted by MEL (Member # 141) on 01-16-2021, 12:00 PM:

Totally insane to make it a federal law. Every state and even different parts of states have different economics. Where I am in Colorado $15 is pretty the norm but where I grew up in eastern NM, $15 would be way, way overboard for that area.

MEL

Posted by Tiptree (Member # 844) on 01-16-2021, 02:18 PM:

In addition to making the $15 minimum wage a national law, Biden's proposal includes repealing "right to work" laws.

Basically, that makes us Europe. High minimum wages, no way to fire people who underperform, and lots and lots of people on the government teat.

The left encourages dependency, the right promotes responsibility.

Posted by m hamilton (Member # 127) on 01-16-2021, 04:43 PM:

The federal govt. wants to run as if every state in the union had the cost of living as California or NY!