$15 minimum wage

[brokeno]

Prices of goods will raise or people will be laid off. The business has to be profitable to stay in business. Now is not the time with all the businesses suffering with covid closure and restrictions in place.

[Playa]

Your simplistic view verifies that you weren't an econ major.
Just because the price of corn doubles does that mean the price of the HF deer to shoot doubles?

Labor is but one component of the price of that burger you eat.

You are correct. However in a service based economy material costs are a smaller % of overall COGS, labor tends to be a higher ratio. For instance your lawncare is almost 100% labor and very little material costs.

I don’t think many of us are Econ majors

Oh it'll work great. The folks complaining about not being rich with their "career" as a cashier will really complain when they get replaced by a self checkout. When the fast food joint cuts staff and the few that remain have to work twice as hard it'll be even more fun. All the while the execs will be making even more money. What do you expect from the democrats? It's all about pandering to the folks with their hand out, while simultaneously screwing them, in order to maintain control. What do they care if the economy goes down the drain, they've made their millions, and if poverty rises, that's just an excuse for more welfare they can skim off of.

Unless your plan is to drive more individuals to be government dependent.

[J-5]

Minimum wage is a starting point. It’s not the kind of job someone is supposed to make a career out of. If someone’s work is worth more, they will either be bumped up or they need to look into other options. Unfortunately, some are only worth minimum wage, some don’t even make it that good. The best rise up and the rest get paid what they’re work and quality of employment calls for. It’s simple economics.

[imyomama]

Your simplistic view verifies that you weren't an econ major.
Just because the price of corn doubles does that mean the price of the HF deer to shoot doubles?

Labor is but one component of the price of that burger you eat.

oh really ? not only the burger flipper makes double , but the bun maker , the cheese maker , the lettuce picker, the wrapper maker, the delivery drivers.... pretty much everything and everyone involved ... you can't add to one side without affecting the other ... again , the only people who will benefit from this are the people unaffected by this price hike .. ie china , and everyone else who competes with us. when you have to pay a worker double for the same job, the company will just get rid of this job and get it made in mexico or china where is't cheaper ..

funny how Trump made economic sanctions to bring back jobs in america, and Biden wants to undo all of this... funny how all the super rich like Mark Cuban and all these other billionaire rats on shark tank are all hard core democtrats who push constantly companies to cut their costs in half by making things in china instead of the US. they don't even try to hide it... every single episode has comments on this ... even saw an episode where the guy was adamant about employing an entire small community he lives in ... they told him cut the cost , move operation to china or no deal ... he refused!

you'd have to have your head in the sand not to realize we're getting screwed.

[Clay C]

Democrats continuing racists policies? I'm shocked I tell you.

[texansfan]

Do you own a fast food place? I don't but a friend owns three. Labor is a big line in keeping services at costs given by the franchiser.
Wendy's sets the cost of the combo. Your job is to make a profit selling products at the costs given to you.
It won't double but it will significantly impact the cost of a happy meal.

Sent from my SM-G892A using Tapatalk

I don't.
But I've worked with econometricians on billion dollar cases regarding "pass-through".

Just because the price of the screen on your iPhone triples does not mean Apple will triple the price of the iPhone or even increase the price at all.
There is a lot of absorption by the manufacturer that takes place.
What will happen is the business more than likely will take a haircut on profit margin
But they still will make a profit.

It's the price of doing business

[texansfan]

oh really ? not only the burger flipper makes double , but the bun maker , the cheese maker , the lettuce picker, the wrapper maker, the delivery drivers.... pretty much everything and everyone involved ... you can't add to one side without affecting the other ... again , the only people who will benefit from this are the people unaffected by this price hike .. ie china , and everyone else who competes with us. when you have to pay a worker double for the same job, the company will just get rid of this job and get it made in mexico or china where is't cheaper ..

funny how Trump made economic sanctions to bring back jobs in america, and Biden wants to undo all of this... funny how all the super rich like Mark Cuban and all these other billionaire rats on shark tank are all hard core democtrats who push constantly companies to cut their costs in half by making things in china instead of the US. they don't even try to hide it... every single episode has comments on this ... even saw an episode where the guy was adamant about employing an entire small community he lives in ... they told him cut the cost , move operation to china or no deal ... he refused!

you'd have to have your head in the sand not to realize we're getting screwed.

If you ever notice you have one or two ppl doing multiple tasks in a fast food joint so your analogy does not hold.

If the cost of lawnmowers double your landscaper can't charge you double
He will go out of business
So he becomes savvy and makes things work

[DKirk]

Price will be passed on to consumer and they’ll eliminate jobs by more self checkouts, fast food ordering kiosk and other automations.

[txpitdog]

I think one unintended consequence will be that workers get fewer hours.


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[friscopaint]

More kiosks and self checkout lanes

[ladrones]

Covid has allowed states to punish those businesses that oppose minimum wage legislation with mandatory shutdown’s and limits to the occupancy rates.

[texansfan]

More kiosks and self checkout lanes

Exactly!!!!!!!

[texansfan]

More kiosks and self checkout lanes

You shop at Walmart?
Ever notice that unmanned floor sweeper they have in there?

But this is a function of technology as well

[Neck]

Seattle gradually raised its minimum wage to $15 per hour and it was a total disaster for small businesses and consumers.

A Subway franchise owner in Seattle told FacesOf15.com that the $15 per hour wage hike hit her business hard:

“After Seattle implemented a $15 minimum wage, my business went from having seven employees to three. We used to have the ability to hire and train younger and entry-level employees, but now we don’t have the margins to hire inexperienced workers anymore. Now, we’re faced with the very real prospect of closing. The lesson from Seattle is that Congress can’t mandate its way to wage growth and prosperity, because those mandates hit small businesses hard.”

https://www.facesof15.com/

[texansfan]

Seattle gradually raised its minimum wage to $15 per hour and it was a total disaster for small businesses and consumers.

A Subway franchise owner in Seattle told FacesOf15.com that the $15 per hour wage hike hit her business hard:

“After Seattle implemented a $15 minimum wage, my business went from having seven employees to three. We used to have the ability to hire and train younger and entry-level employees, but now we don’t have the margins to hire inexperienced workers anymore. Now, we’re faced with the very real prospect of closing. The lesson from Seattle is that Congress can’t mandate its way to wage growth and prosperity, because those mandates hit small businesses hard.”

https://www.facesof15.com/

So is there a dearth of sandwich shops in the city of Seattle?
Somebody is making it work on $15 minimum wage selling sandwiches out there