Economics Thread

[cajunrevenge]

Florida overwhelmingly voted for 15$ minimum wage in 2020 election yet Trump also won the state. So clearly Trump committed voter fraud in the state.

[Jaw]

I'm not opposed to the minimum wage increasing. I think it's necessary. But more than doubling it in one shot with the damage already done by the pandemic will kill a lot of small businesses, and the pain will be targeted.

[57Brave]

which small business' ?
Restaurants, hardware stores?
Auto tire stores ?
Drug stores ?
Rent?
Seems it will boost local business more than corporate box store business' ?
Hasn't Wal-Mart , Costco etal already gone to $15 per hour.

That money is going to get spent somewhere

[striker42]

I'll say this about the minimum wage increase. If you're making $15 an hour at a fast food job, you better be giving me $15 an hour worth of service. My food better be correct, hot, and served with a smile.

[sturg33]

which small business' ?
Restaurants, hardware stores?
Auto tire stores ?
Drug stores ?
Rent?
Seems it will boost local business more than corporate box store business' ?
Hasn't Wal-Mart , Costco etal already gone to $15 per hour.

That money is going to get spent somewhere

Small businesses that have been ravaged by anti science lockdowns now get to face a doubling of their labor costs.

Thats if they were lucky enough to survive.

Its almost as if government is intentionally trying to kill small businesses.

[57Brave]

One would think restaurants and other business' I mentioned would thrive with more money in circulation.

If not mistaken there was in one of the plans floated tax breaks afforded business owners to off set losses pertaining to min wage increase

Before dismissing it out of hand, wait to see what is actually the plan
//////////////////

Which small business' ?
////

you voted for the guy that lost money running a gambling house.
Not even mentioning food lines 2021
If I were you I'd listen more and type less, your advise is, how do they say in France ----- Suspect ?

[Tapate50]

I'll say this about the minimum wage increase. If you're making $15 an hour at a fast food job, you better be giving me $15 an hour worth of service. My food better be correct, hot, and served with a smile.

Chick Fil A can’t run them all dude

[Tapate50]

One would think restaurants and other business' I mentioned would thrive with more money in circulation.

If not mistaken there was in one of the plans floated tax breaks afforded business owners to off set losses pertaining to min wage increase

Before dismissing it out of hand, wait to see what is actually the plan
//////////////////

Which small business' ?
////

you voted for the guy that lost money running a gambling house.
Not even mentioning food lines 2021
If I were you I'd listen more and type less, your advise is, how do they say in France ----- Suspect ?

Lol

[Jaw]

which small business' ?
Restaurants, hardware stores?
Auto tire stores ?
Drug stores ?
Rent?
Seems it will boost local business more than corporate box store business' ?
Hasn't Wal-Mart , Costco etal already gone to $15 per hour.

That money is going to get spent somewhere

Primarily any of them that have minimum wage employees. Any that have sub $15 employees will also take a beating. Prices at all of those places will go up. Any place with cashiers, any place with part time staff, any place that employs high school kids. They'll all cut staff and raise prices to try to survive.

Of course it will hurt worst in places where the economy isn't inflated by high real estate prices. Flyover country, rural areas, the South. As designed.

[57Brave]

According to the Labor Law Center, the following states are set to raise their minimum wage at various points through the new year:

Alaska: $10.34
Arizona: $12.15
Arkansas: $11.00
California: $14.00
Colorado: $12.32
Delaware: $10.25
Florida: $8.65
Illinois: $11.00
Maine: $12.15
Maryland: $11.75
Massachusetts: $13.50
Michigan: $9.87
Minnesota: $10.08
Missouri: $10.30
Montana: $8.75
Nevada: $9.75
New Jersey: $12.00
New Mexico: $10.50
New York: $12.50
Ohio: $8.80
South Dakota: $9.45
Vermont: $11.75
Washington state: $13.69

The hikes are part of a phased-in approach to increase the minimum wage to $15 an hour.

[57Brave]

I think we went through this a few years ago, it was then forecasted that a $15 minimum wage would raise the cost of for instance a Big Mac $0.15 or thereabouts.

I see but one slave state slated to raise their minimum wage . Florida
Hmmm

[57Brave]

If you are economically aligned with this guy, might want to think again

[57Brave]

A List of Minimum Wage Jobs
Small Business
|
Human Resources
|
Minimum Wage
By
Lainie Petersen
Updated February 06, 2019





A List of Minimum Wage Jobs

Some types of jobs pay more than others. While the compensation provided tom most workers starts at the bottom of the pay scale, there are some jobs where workers of any experience level can expect to earn minimum wage or a little bit more than the minimum wage. Keep in mind, however, that other positions within these industries can pay a lot more, so it's not unusual for workers to try to move up in their careers as soon as possible.


Caregiving and Childcare Jobs
Jobs that provide basic care to children, people with illnesses or disabilities and the elderly often start at minimum wage or not much more. Below are the median hourly wages, according to the U.S. Department of Labor's Bureau of Labor Statistics, for several care-giving jobs:

Childcare workers: $10.72
Home health and personal care aides: $11.12
Nursing assistants and orderlies: $13.23

"Median hourly wage" means that half of all workers in this industry made more than the stated amount and that half made less.

Cleaning and Janitorial Jobs
Cleaners and janitorial workers often start at relatively low wages, although some may eventually earn more, as they move into supervisory and management positions:

Janitors and building cleaners: $12.02
Maids and housekeeping cleaners:$10.99

Delivery Drivers and Shipping Workers
While delivery drivers for major shipping companies can earn very good salaries, those who work for restaurants, retail stores and third-party courier services often start at close to minimum wage, although tips may increase their earnings. The BLS states that the median hourly wage for restaurant delivery drivers, as of May 2017, was $10.85.

Retail and Restaurant Workers
Many people get their first jobs working in restaurants and retail shops, often earning minimum wage, until they move on to other work or they enter management positions. As a general category, food and beverage workers earned a median hourly wage of $9.81 in May 2017. Other retail and restaurant workers earned the following median wages:

Bartenders: $10.43
Waiters and waitresses: $10.01
Food preparation workers: $10.93
Retail salespersons: $11.16

Things to Consider
As a small business owner, it's understandable that you are concerned about labor costs. Keep in mind, however, that some industries see significant turnover in employees, as the most competent workers move on to higher paying jobs. Most of the jobs highlighted here don't require much experience or training. Once an employee does gain experience and completes a degree or certification program, she is likely to move into a career that pays more. Other things to think about include:

Local and state minimum wage laws: Some states and metropolitan areas set the minimum wage at a higher amount than the federal wage. As you write your business plan, find out what the minimum wage is in your area.
Benefits and incentives: If you started your business on a shoestring and can't afford to pay your workers much, look into options for giving them a solid benefits package, including paid time off, tuition reimbursement, insurance, as well as profit sharing or even the option of earning shares of your business.

[57Brave]

https://www.theatlantic.com/ideas/ar...panies/617671/


The low minimum wage is one reason so many Americans working full-time or close to full-time still need government assistance. The new Berkeley study shows that, in the 42 states that have not passed a $15 minimum wage, two-thirds of fast-food workers are enrolled in a safety-net program or have a family member enrolled in one. That is true for half of child-care workers and 62 percent of home-care workers, too. These jobs are held disproportionately by women, as well as by Black and Latino workers.

[mqt]

I'll say this about the minimum wage increase. If you're making $15 an hour at a fast food job, you better be giving me $15 an hour worth of service. My food better be correct, hot, and served with a smile.

Given that $15 would be the minimum, I’d argue that any level of service is technically worth $15 an hour if this is approved. No need for standards!

[sturg33]

The big boys can afford or can automate

The small shops get crushed.

But it seems like that is the point

[thewupk]

The big boys can afford or can automate

The small shops get crushed.

But it seems like that is the point

Soon we can only blame ourselves when the order is wrong

[57Brave]

Countries that have a lower total wealth than Elon Musk.

by u/falldarkelf

[57Brave]

[Tapate50]

Problem no 1 is we are eating “Big Macs”