Lets assume 15 dollars an hour happens

[eillas]

Consider this. Increased pay means happier workers, happier workers put out better work. More pay means that people can spend more. Spending more helps the economy.

[Sunseeker]

Consider this. Increased pay means happier workers, happier workers put out better work. More pay means that people can spend more. Spending more helps the economy.

AMAZING! Someone gets it!

[oxymoronic]

Yes...it has been doubled in the past without any of the disasters that the Chicken Little crowd believes will cause the sky to fall.

considering the country has went to shit (in many peoples mind) in that time you dont really make a convincing argument.

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Consider this. Increased pay means happier workers, happier workers put out better work. More pay means that people can spend more. Spending more helps the economy.

if only that was true

humans are never "happy", we are designed to always want more.

[Zolaris192]

You know this 15 an hour minimum wage wouldn't be an issue if all our good jobs weren't in other countries lol

[Uurdz]

So what? The currency devalues all the time anyway. And half the countries we trade with don't even let their currency float on the market. The devaluation of the currency won't even remotely impact US trading power, and the buying power of citizens will increase dramatically, which will in the long term, slow currency devaluation.

Jesus you'd think there was some kind of science behind this, like, fucking I dunno, economics or something.

Devaluation of currency reduces your buying power... A weaker USD helps your exporters but hurts your importers. Importers will pass on the increased costs to consumers and prices will go up.

[Uurdz]

You know this 15 an hour minimum wage wouldn't be an issue if all our good jobs weren't in other countries lol

I feel bad for any McDonald's type workers who push to hard for this. They are only bringing forward the end of human jobs and the replacement of autonomous robotic solutions.

[Sunseeker]

Devaluation of currency reduces your buying power... A weaker USD helps your exporters but hurts your importers. Importers will pass on the increased costs to consumers and prices will go up.

Again, that's accounted for. Fuck get on the bus here, when I'm talking about increased costs, that's after all has been said and done economically.

Yeah, inflation sucks, but guess what? It happens EVERY YEAR at around 2-5%. It's been killing our buying power already and WITHOUT wage increases the impact is even worse. It's not like our currency is deflating, which has its own downsides.

[Aeka]

Wouldn't higher income for everyone increase business and revenue though? People will have more disposable money to spend. Am I wrong in thinking that?

Yes, you are.
1) Jobs will be lost as companies slash to the bone...and then keep cutting. Automating as much as possible will happen.
2) The working poor get sewed by this, so they won't have extra disposable income. Why? Not only are there going to be fewer jobs, they're going to be competing against better qualified workers.
3) People who are making more than the minimum age now, but less than $15 an hour are screwed. They're not minimum wage workers and will expect to be compensated accordingly. But someone who is making $15 an hour now, more than 100% of minimum wage, will likely not be making $30 an hour down the road. The result: the economic power of the idle class will be seriously damaged after things shake out.
4) Costs get passed along. Here comes inflation. The end result will be that $15 an hour will be actually of less value than $7.25 is now. Fewer jobs, people making proportionately less than they do now.

[Fugus]

I hope these minimum wage employees double their work efforts with a doubling of their pay.....

I won't hold my breath.

Actually, after adjusting for productivity and inflation, even that doubling to $15 would put them well below what they should be so their employers still are getting more than they paid for.

After adjusting for both, minimum wage would be over $20 an hour.

Off topic, all I can think of looking at your avatar is 007-373-5963

Bonus to anyone old enough to understand that.

[oxymoronic]

I feel bad for any McDonald's type workers who push to hard for this. They are only bringing forward the end of human jobs and the replacement of autonomous robotic solutions.

why? if true then we go to a basic income even quicker.

[eillas]

I hope these minimum wage employees double their work efforts with a doubling of their pay.....

I won't hold my breath.

I am pretty sure most will given the pay raise. Imagine in Georgia unless I am wrong is 5.15 an hour. Thats $41.20 a day before taxes. So let's say $36 a day. Thats a depressing thought. Now tell those workers how would they feel if they made triple the current amount. I have no doubt that they would be excited and happy.

[oxymoronic]

Actually, after adjusting for productivity and inflation, even that doubling to $15 would put them well below what they should be so their employers still are getting more than they paid for.

After adjusting for both, minimum wage would be over $20 an hour.

Off topic, all I can think of looking at your avatar is 007-373-5963

Bonus to anyone old enough to understand that.

what is productivity? i keep seeing this word but it means nothing. starting to sound like a made up word to say people work harder now than ever but we all know that is not true.

[Nadiru]

what is productivity? i keep seeing this word but it means nothing.

Productivity is the ratio between the output and input volume. The more output per-input, the more productive a firm or industry is.

[oxymoronic]

I am pretty sure most will given the pay raise. Imagine in Georgia unless I am wrong is 5.15 an hour. Thats $41.20 a day before taxes. So let's say $36 a day. Thats a depressing thought. Now tell those workers how would they feel if they made triple the current amount. I have no doubt that they would be excited and happy.

5.15? what year is this?

[oxymoronic]

Productivity is the ratio between the output and input volume. The more output per-input, the more productive a firm or industry is.

ahh im getting it, workers are taking credit for leaps in technology? is that what he is saying? and for the company being more advanced in technology workers should be paid more? kind of a silly argument isnt it?

[Fugus]

what is productivity? i keep seeing this word but it means nothing. starting to sound like a made up word to say people work harder now than ever but we all know that is not true.

Productivity: the effectiveness of productive effort, especially in industry, as measured in terms of the rate of output per unit of input.

Found by a 5 second google.

[eillas]

5.15? what year is this?

http://www.ncsl.org/research/labor-a...age-chart.aspx Georgia and Wyoming.

[oxymoronic]

http://www.ncsl.org/research/labor-a...age-chart.aspx Georgia and Wyoming.

state min wage? what is your point here?

other than it awfully cheap to live there. where you can get a mansion for 250k but not even a regular house in LA. WHAT IS YOUR POINT?

[Fugus]

I may not agree with you, but you are my insta friend for rattling off the Tyson code

Learned it back in 1985 when I got it on my first Nintendo, forgot what the code was for for over a decade. Just kinda wondered why I couldn't remember who's phone number this belonged to till I broke out the old nintendo again.

Also still got the original Final Fantasy with the box, instruction manual, maps, beastiary that came with the game and the nintendo power strategy guide

[Eroginous]

Current hourly rate: 7.25 (let's assume all at at this level)
Current Burger sold per year: 225 million each year world wide (let's assume ALL are sold in the US).
US Employee for McDonalds: 300,000 to 420,000 ... let's take 420,000.

New hourly rate: 15/hr ... so that would be an increase wage cost of: $130,200,000 per year (assuming 40 hr/wk worked).
So, 130,200,000/225,000,000 = 0.57/hr

You are talking about less than a dollar increase.

This is assuming that all McDonald workers are paid 7.25/hr, that the 420,000 is correct and not a lower value. I tried to balance this out with assuming all burgers are sold in the US rather than worldwide.

You should re-figure this for people being scheduled to work an average of 29 hours a week or less. 40 hours would be pushing it, I'm willing to bet less than a third of their workforce is full time.