Lets assume 15 dollars an hour happens

[Masark]

They throw away millions because they think it will make them even more than they spent.

Make the company more or make the board members more?

"I'll vote for you for CEO of company X if you vote for me for CEO of company Y".

[Yvaelle]

Automation will just be ushered in much sooner with this batshit crazy doubling of the minimum wage. It's already creeping up in fast food restaurants as we speak.

Nothing will stop the tide. The people nearest the waterline need to be brought up (to a higher minimum wage) or they will drown.

It's that simple.

[Krigaren]

People aren't being honest with themselves about this.

After everything I've read, after all the opinions of actual Economists, political leaders/advisors, and average Joes, I am convinced of only one thing...

Everyone thinks they know what is going to happen, but really...no one has a fucking clue.

That's the fun part of economics. There are plenty of models and statistical analysis that says what should happen within a degree of reasonableness, but what will happen may not be the same thing.

[alexw]

We've run a trade deficit since the 1970s. We've had no significant period of a trade surplus for any period I can find data on.

The USA has to run a trade deficit if the world runs on a dollar reserve currency. Its the means by which dollars flow out of the US so that other nations can use them to trade between each other.

[Chrysia]

The USA has to run a trade deficit if the world runs on a dollar reserve currency. Its the means by which dollars flow out of the US so that other nations can use them to trade between each other.

Man, traveling abroad showed me how much the dollar still commands respect. Money changers were desperate to get my business over their competitors.

[alexw]

We do not need to pay a living wage because that is what welfare is for, taking money from the middle and upper classes and giving it to the poor.

And its a bad idea. The more you subsidize something the more you get of it. So subsidizing low paid work incentivizes employers to create more low paid work. That's been the case here and everywhere else that has tried this "good" idea.

[wheresmywoft]

Oh, and as far as internet being a necessity? The only reason I was even at a McDonald's a couple weeks ago, was to prepare some tax returns for the former employees of a friend. She owned a hotel, which she recently lost in bankruptcy. I got to know her employees because I had been helping her with the bookkeeping. The hotel is being turned into condos, so when her employees lost their jobs, I offered to do their tax returns for free.

That hotel is a good 20 miles from my house, none of them have wifi, so I had them meet me at McDonald's out there, because all McDonalds offer free wifi and efiling requires Internet access.

So no, not everyone has wifi. Many people either have cell phones with unlimited data plans, while others use McDonald's or the public library.

BTW, most public libraries have computers you can use for free too, so you don't actually need to own one, and most of them don't. They don't have cars either, and rely on public transportation.

Most of them however are attending college.

How does any of what you wrote explain it as not being necessary? You just spoke to the fact that it is available in some public form.

[Tijuana]

Make the company more or make the board members more?

"I'll vote for you for CEO of company X if you vote for me for CEO of company Y".

You speak of interlocking corporate directorships. While it's fun to say, it's less common than you might think. At the end of the day, those board members all want to make more money. The ratio of the money that can be made, is not on the level of what can be taken from the till, so to speak, by agreeing to ludicrous salaries. Not everything you don't understand is the result of the Illuminati.

[wheresmywoft]

No, I said if my husband could have made a living wage flipping burgers, he would not have worked that highly dangerous construction job. I never said anything about $15/hour, which wouldn't be a living wage around here. Short term maybe, not long term.

Others are not in that situation? Neither were we! We worked our butts off to find those opportunities!

If we hadn't found those particular opportunities, I guarantee you, we'd still have found other opportunities. Maybe better ones, maybe worse, but we wouldn't have just stayed at entry level, go nowhere jobs.

Did your husband have some sort of inherent connection to being a burger flipper? Why could his previous risky job only be replaced with flipping burgers at $15/hr but not other jobs at $15/hr?

Are you saying that if anyone did exactly as you did they would have ended up with the same? How many years has passed since you and your husband did what you're describing?

[Forogil]

Big Mac would go up 17 cents.

http://www.purdue.edu/newsroom/relea...3-percent.html

The actual abstract of the article states:

In order to compensate for higher wages, prices would have to increase between 4% and 25% and/or product size would have to be scaled back between 12% and 70%. With tax credits that are available in the next few years, the Affordable Care Act will have minimal effect on limited-service restaurants with few than 25 FTEs.

I believe that a 70% decrease in product size might be noticeable, and I don't know how long the tax credits are available.

[Captain N]

Nothing will stop the tide. The people nearest the waterline need to be brought up (to a higher minimum wage) or they will drown.

It's that simple.

Coincidentally if they start drowning the next income bracket ahead of them has to start treading water. It's why I never understood people just barely at or ahead of $15 currently getting so vocal against wage increases.

[wheresmywoft]

The actual abstract of the article states:

I believe that a 70% decrease in product size might be noticeable, and I don't know how long the tax credits are available.

That 70% reduction just looks really out of place. Worst case scenario in a situation where labor is 100% of your costs would suggest at most a 50% reduction. So for 70% to come up, really needs a deeper dive.

[Chrysia]

The actual abstract of the article states:

I believe that a 70% decrease in product size might be noticeable, and I don't know how long the tax credits are available.

The 70% decrease in product size would be in lieu of a price increase if the minimum wage increased to $22 an hour.

[Orange Joe]

oh lord, you can't believe that.

Going by past history of wage increase and inflation increase. Yeah, that is the most likely outcome.

[Chrysia]

That 70% reduction just looks really out of place. Worst case scenario in a situation where labor is 100% of your costs would suggest at most a 50% reduction. So for 70% to come up, really needs a deeper dive.

The study researched three scenarios: a $15 minimum wage, a $22 minimum wage, and a mostly full-time employee roster under Obamacare. The $22 minimum wage is what would result in either a price increase of 25% or portion reduction of 70%, or some lesser combination of both factors.

[breadisfunny]

right now, as a certified 6G welder starting out in my weld shop you can expect to be started at 17.50, so if someone with no education can flip a burger for 15.00 that says 17.50 should go up by quite a bit. so in the long run you are catering to the laziness of McDonald's workers that choose not to pursue a real job but you are injuring those that do and have at the same time.

yep because people who get screwed over by circumstances beyond their control are lazy.

[Cricket22]

How does any of what you wrote explain it as not being necessary? You just spoke to the fact that it is available in some public form.

I was explaining to you that Internet access is available for free, so to gain access would not require an increase in the minimum wage to $15/hour.

No need to raise minimum wage to buy a computer either, as most public libraries offer the use of them free. You usually just need a flash drive in order to save your work.

You claimed internet access was necessary, but that really has nothing to do with minimum wage. You could live on the streets and still have Internet and computer access.

[breadisfunny]

I am sure the McDonalds people on the top of the ladder will happily take a hit in profit for social justice.

Or they will behave like sane human beings and increase product cost to compensate for the fact they have to pay no skill workers higher...

yep because social justice is paying people above starvation wages. clearly the poor lazy burger flippers deserve to starve and be homeless because they have to choose between food and housing.

[Chrysia]

I was explaining to you that Internet access is available for free, so to gain access would not require an increase in the minimum wage to $15/hour.

pano need to increSe minimu. Wage to buy a computer either, as most public libraries offer the use of them free. You usually just need a flash drive in order to save your work.

Not every city/town has a location that has free wi-fi. I know my grandparents' hometown doesn't even have a public library.

[Cricket22]

Not every city/town has a location that has free wi-fi. I know my grandparents' hometown doesn't even have a public library.

Do they have a McDonalds? Every McDonalds offers free wifi. If there's absolutely nothing, my bet is there aren't any available jobs there either, minimum wage or otherwise.

In which case, If you want a job, you'll need to move, regardless.