Suppose, for conversation sake, the minimum wage goes up to $10 /hr.
What would you guess would be the price of a Big Mac?
a) the price of a small horse
b) $10 to match minimum wage
c) $25
d) go from $2.50 to $2.55)
or
e) would McD raise it to $3.50 just because they could -- like insurance companies did with HC the past 2 1/2 years
While I don't think it's as simple as you assert, either, the cost of wage increases should "come out of the big bad greedy business owners' pocket".Originally Posted by gtcway
"For all his tattooings he was on the whole a clean, comely looking cannibal."
Probably, but we all know that will never happen.
That seems like a no win situation for libertarians*. If you don't go into politics, you risk the rules being written by those who philosophically oppose you. If you go into politics, you're a hypocrite for accepting pay from the government.
*I don't consider Paul Ryan to be a libertarian
Hey, I'll thank you to refer to Congress in a slightly more respectful tone sir!!!!!!!!!!!!!!!!!!
I don't. Their employers and the worker does. In the current state, both agree that they should make $x/hour. If both didn't agree about that, the worker would not be working there.
But YOU want to decided that the worker, who previously deserved $7.50 an hour based on the FACT that both he and the employer agreed to this wage, should now be making $$14/hour (or whatever).
Last edited by sturg33; 12-10-2013 at 08:45 PM.
If everyone was highly educated and worked hard, nobody would be willing to do those jobs for $7/hour. Thus, those jobs wouldn't exist unless the employer decided it was worth it to pay the highly educated, hardworking employee more.
You never disappoint
LOL if you think Paul Ryan ACTUALLY believes the principles of Ayn Rand
I'll go ahead and tell you that if the minimum wage is doubled in this country, my company will outsource ALL of our call center agent jobs to India… That's about 5,000 employees.
you must work for some real doozies.
First they raise your HC by 79% then they threaten to send 5000 jobs to India because a fast food worker makes a living wage.
You must work for Maggie's Brother
As usual, you're an idiot.
The HC increase was because they are now ensuring everyone in the damn company. I'm subsidizing those folks.
The outsourcing is a pure hypothetical… Obviously, they are not "threatening" anything. I just happen to work closely with operations and am sure what the fallout would be if something so stupid happened.
So they did raise your HC 79% ( blaming it on Obama) and you made up the part about outsourcing 5000 jobs (because a Big Mac costs 5 cents more).
Gotcha
I have told you why the HC was raised 78% (still a much lesser premium the average around the DC market, by the way). You have yet to refute it other than "you're company is just greedy!"
And, i'm telling you what WOULD happen if the minimum wage was doubled. I am 90% sure those jobs would go bye bye based on 3 year forecasting I've been assisting with.
Let's take a simple example, shall we?
Walmart employees about 2 million people. I would say (just guessing) around 1.5 million are minimum wage workers.
So if the minimum wage was doubled, to around $15/hr… this is what would happen.
- assuming a minimum wage worker works 30 hours a week, and works 50 weeks a year
1. a minimum wage worker gets paid an additional $225 per week (based on a $7.50/hour raise
2. That amounts to $11,250 more per year for the worker
3. $11,250 x 1.5 million workers = $16,875,000,000. For those counting, that's an additional $16.8 BILLION dollars out of Walmart shareholder profits
4. But it doesn't stop there, don't forget about social security. Walmart would have to contribute 6.2% of that 16.8 BILLION to SS.
5. That means the SS contribution is $1,046,250,000.
6. This brings our grand total of new contributions from Walmart to $17.9 BILLION dollars.
7. And when 57 gets his way, they will also have to pay health care for these folks. But I won't even get into that math.
So, if the minimum wage is doubled, 57 expects WM to just hand away $18 Billion dollars out of their bottom line. Anyone with a brain knows that will never happen. What would happen is:
1. WM employs SIGNIFICANTLY less people, thus making *their* minimum wage = $0
2. WM passes the cost on to consumers. Who are the consumers of WM? Poor people.
Sounds like a great plan.
FreemanFan (12-23-2013)
Just to clarify, has anyone here actually asked for a doubling of the min. wage, or is that just what's in the story? I haven't seen anyone advocate doubling.
57Brave (12-10-2013)
Treating a job at McDonalds as a career and the "main source" of income to raise a family is the problem here. Those jobs aren't meant for that purpose.
jpx7 (12-11-2013)
What you just explained is Wal-Mart exists on solely on exploiting their workers or as some employers would put it , their "people"
.
Why don't you use COSTCO as an example?
Because they seem to be getting on just fine with their pay scale. You must have missed the post a few days back showing that Wal-Mart is really not that profitable to investors because their rate of return has steadily diminished over the past 15 years.
Whereas COSTCO is steadily rising
Was Wal-Mart the example you really wanted to use?
Still not sure how much that Big Mac will cost once the rate is raised? Becasue someone somewhere will devise a better model and will make money and the dinosaur business' will go the way of, well, the dinosaurs. You underestimate the ingenuity of the Free Market system to adapt to new standards. Because what you are missing not only in this discussion but most every other one is the fact of that as things change so does everything around it. You base these numbers on current standards and like I just said -- some one somewhere will figure out how to use the new standards to their advantage.Should Wal-Mart or McD go under --- so be it. Adapt or perish -- isn't that how that goes?
So in a nut shell what you are arguing for is the survival of McDonalds and Wal-Mart to exploit your fellow citizens. Do I understand you right?
Oh but hey, I never fail to disappoint.
That I believe is the second time that meme has been used on this particular board. Both times were quite amusing.
Stockholm, more densely populated than NYC - sturg
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