California is first state to approve $15 minimum wage

[Jimusmc]

well prices gonna go up and you'll be at the same damn thing it is now.

[breadisfunny]

I blame them for everything almost, so yes. Drought, low wages, crime, wear and tear on services and infrastructure. Weve got like 8 million illegals in California just pumping out kids left and right.

well we got 2 choices here for what you are and i think you know what those are.....

[Wells]

well prices gonna go up and you'll be at the same damn thing it is now.

Prices don't work this way.

[Yvaelle]

well prices gonna go up and you'll be at the same damn thing it is now.

That can only be true if:

1) EVERYONE earned the minimum wage, and
2) US Labour constituted 100% of the Cost of Goods Sold for ALL goods and services (no materials, no foreign refinement, no foreign components, no administration, no overhead, no rent, etc)

Basically the only way what you are saying could ever be remotely true, is if we lived in a fully communist society, with zero corruption, and we all lived willingly in a virtual reality (which was self-sustaining or sustained by the economy of some other species or AI), and the only goods and services we ever produced were like - drawing new outfits for one another: virtual goods where the only resource is labour.

So when you say that to anyone who understands economics - what you are saying is that you believe we live inside the Communist-Matrix.

[Cthulhu 2020]

Not for a very long time, point is that its a giant exaggeration to say people will starve to death. This isnt North Korea but some spoiled millennials seem to think so.

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And? No ones starving to death.

Thanks SNAP!

[LegendaryDude]

While this is great, i personally think that the entire minimum wage debate gets taken on from the wrong direction. The state doesn't need to enforce a minimum wage, they need to enforce price caps on goods, services, and rent. Especially on rent. Boom, inflation gone forever.

[Hooked]

While this is great, i personally think that the entire minimum wage debate gets taken on from the wrong direction. The state doesn't need to enforce a minimum wage, they need to enforce price caps on goods, services, and rent. Especially on rent. Boom, inflation gone forever.

The state doesn't want that because they want more money in property taxes.

[breadisfunny]

While this is great, i personally think that the entire minimum wage debate gets taken on from the wrong direction. The state doesn't need to enforce a minimum wage, they need to enforce price caps on goods, services, and rent. Especially on rent. Boom, inflation gone forever.

inflation is there in part to keep people from hoarding money. it also represents the demand supply side of economics in most cases.

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The state doesn't want that because they want more money in property taxes.

hooked you really need to stop visiting infowars.

[Theodarzna]

The weather is far too humid (and smoggy) on the coast. Rural California has too many restrictions on what you can do compared to other western states.

In Portland on can go snowboarding, get fresh blackberries, visit Chinatown, go wind surfing, and do whale watching and not travel more than 100 miles. Most states can stitch together a list of things you can do. Heck, in Tucson AZ one can go from skiing to swimming in an unheated outdoor pool in an hour.

I'm debating Colorado or Oregon at some later date, though realistically I'm heading out of country soon.

[Al Gorefiend]

Poor Californians will move to my state to get jobs, Arizona and Oregon too.

California has more citizens than Canada. It's going to be a huge experiment.

Do Californians love traffic or something? Fuck the weather, no way could I live in such overcrowded cities.

[Hey There Guys its Metro]

lol ya right
funny to see even the state of California get involved in April Fools day!
Decent attempt for sure.

[DesMephisto]

There's an optimization point somewhere far below $100, but far above $7.25. Your being absurd with the numbers does not imply that the logic behind a consumer economy is somehow flawed.


What purpose could that possibly serve?

CEOs not making 300 times the amount their workers do? Might make it easier to have realistic minimum wages.

[Cthulhu 2020]

What, you think inflation rate is more than 66.6% over 6 years? Lol.

It's already well behind inflation, the first few years are making up for inflation.

[Yvaelle]

While this is great, i personally think that the entire minimum wage debate gets taken on from the wrong direction. The state doesn't need to enforce a minimum wage, they need to enforce price caps on goods, services, and rent. Especially on rent. Boom, inflation gone forever.

The immediate pushback would be that the cost of goods sold may match or exceed the capped price: in which case the company would lose money to make their product.

The solution to that would be to tether the price to the cost of goods sold. That would require the government to know the profit margins of all companies - and institute regulations as to the degree of overhead they could have, the amount of R&D budget they could invest per year, etc - otherwise these sorts of things would become means to reduce your profit margin while investing in your company (example, pay higher salaries, report that your profit margin is below the price cap).

So we can't easily tether the price to the cost of goods sold of a business - because there are other costs to a business - and capping the profit margin of a business would be extremely invasive to corporate strategy.

We could introduce another variable - that is the cost of development. So the profit margin of a product could be unrestricted until the cost of development of the product was replenished (with some suitable return on investment), after which a restriction on the profit margin could be introduced for goods whose development cost has been fully recovered: an incentive to continually produce your goods and grow your business.

I'm not sure what to call such a system - it is still capitalistic fundamentally - but it's something else: I don't know what. Weird idea - interesting thought experiment though

[Kellhound]

I'm debating Colorado or Oregon at some later date, though realistically I'm heading out of country soon.

Colorado was great in the 80s, then all the Californians moved in and ruined it. Same thing is happening to Oregon....

Honestly I prefer Colorado, but I cry when I go back and see how much it has grown since I was a kid. Oregon is just trying to be a hipper version of the Bay Area....

[Theodarzna]

Colorado was great in the 80s, then all the Californians moved in and ruined it. Same thing is happening to Oregon....

Honestly I prefer Colorado, but I cry when I go back and see how much it has grown since I was a kid. Oregon is just trying to be a hipper version of the Bay Area....

Eh, it would be in twenty years, I will be back in the UK for some great time before I return to the States again.

[Kellhound]

It's already well behind inflation, the first few years are making up for inflation.

Technically, minimum wage is almost 2x what it was when it was enacted in adjusted dollars.

[breadisfunny]

Technically, minimum wage is almost 2x what it was when it was enacted in adjusted dollars.

congratulations you figured out what inflation does to the cost of living!

[Kellhound]

I was born in a relatively small town of about 10,000 in Oregon back in the 80s and now we probably have close to 80,000 living there and it shows. All said and done, i'm sorta glad the town isn't po-dunk anymore and if you really wanted to there is still plenty of small towns in Oregon where you can live like that if you want.

The Urban Growth Boundary has strange effects on city growth. However, one of the biggest problems Oregon has is its biggest metro area was build in a REALLY bad location.

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congratulations you figured out what inflation does to the cost of living!

So you are saying the cost of living has increased almost 2X as fast as inflation?

[breadisfunny]

wow. kellhound it's like your deliberately being obtuse.