Oldstyle
Platinum Member
- Jul 19, 2011
- 31,206
- 4,935
Gravity Payments still supports a thirty-five dollar an hour wage. The right wing is all hearsay and soothsay.Inflation DOES happen! Especially when you increase wages artificially. So explain to me what the benefit to the average American is, if you increase his wages...which not only increases the cost of all of the goods and services he buys...but also buts him into a higher tax bracket so that he owes more in taxes?
Why would THAT increase demand? You'd be decreasing spendable income and that would decrease demand. You need to seriously study this subject before you make a bigger fool of yourself than you already have!
First off, for every dollar of minimum wage increase, the cost of producing a hamburger goes up 10 cents, so yes, prices go up but labour is only a small percentage of the total cost, and so the price shouldn't go up all that much. Our provincial minimum wage went up $3 per hour to $14 this year. I haven't noticed any huge increases in prices in restaurants or stores, but those making minimum wage are now making $480 a month more, based on a 40 hour work week.
Friends tell me that the kids making minimum wage are spending that money as fast as they make it, and those kids are now buying more consumer goods than they could afford before this raise. In order to have growth, you need both supply and demand.
First off, for every dollar of minimum wage increase, the cost of producing a hamburger goes up 10 cents, so yes, prices go up but labour is only a small percentage of the total cost
You think labor is only 10% of the expense of a fast food restaurant?
The INCREASE of the cost is less than 10% because the cost of his wage is already included his original salary. If you can't figure out the calculation, you have no business whatsoever, commenting on economics.
Raising fast-food hourly wages to $15 would raise prices by 4%, study finds
I have a HUGE problem with the study cited, Dragonlady! Their calculations are based on only raising the minimum wage of employees working in a restaurant to $15 and totally ignore what would happen if that were to happen!
Explain to me how you would feel if you had been working at said restaurant for several years...gaining job skills and several pay raises...raises that had brought your wages to the $15 level that entry level employees are now getting. Are you going to be content to make the same as the newbies? Or are you going to expect to be paid as much more than them NOW as you were BEFORE?
Now tell me what the supervisor who makes even more is going to want to compensate THEM accordingly!
Now do that for every single purveyor that supplies food, beverages, linens, trash removal, or cleaning services as all of their entry level employees get wage bumps and all of their more experienced workers demand more to make up the difference!
Gravity Payments? What in god's name are you babbling about now? Daniel...you've established yourself as probably the dumbest poster on this entire board and that's SAYING something!