Minimum Wage $14.88

[Rigby5]

If labor is 5% for example, then doubling the cost of labor only increases the overhead by another 5%.
So if the prices went up 5% to cover the higher wages, it would be no big deal and everyone would be happy to pay it.

Is labor 5% of GDP? Link?

Depends on the products.
With something like art, labor is 100% of the cost.
But with something like oil or robotics, labor is less than 5% of the cost.
Look at something like Bitcoin, and there is ZERO labor costs.

 

[Toddsterpatriot]

If labor is 5% for example, then doubling the cost of labor only increases the overhead by another 5%.
So if the prices went up 5% to cover the higher wages, it would be no big deal and everyone would be happy to pay it.

Is labor 5% of GDP? Link?

Depends on the products.
With something like art, labor is 100% of the cost.
But with something like oil or robotics, labor is less than 5% of the cost.
Look at something like Bitcoin, and there is ZERO labor costs.

What is the percentage across the entire economy?
What is it in fast food (it's not 1% as you claimed)?

 

[Ray From Cleveland]

That is one of the problems as to why a minimum wage became necessary.
It is too hard for people to unionize and gain job protection by collective bargaining.
And when one is forced to deal individually with a big company, they will always lose.
I prefer state wide minimum wage because costs vary so much, state to state.
But a good argument can be made that state legislature are too easily controlled by some large companies that can be more powerful than an individual state even.

That's also a two way street. Why are Democrats crying over minimum wage? Well who do low income people generally vote for? So give them an undeserving increase in wages and they'll come out next election to support you.

Saying we need minimum wage today is like saying we need the horse and buggy as our main source of transportation. Very few people work for minimum wage; something like 3% of our entire workforce. Statistics show that most minimum wage workers will be making more than minimum within a year if they stay with the same employer. And remember that a lot of those people are kids either in high school or college, or perhaps retired people who don't rely on that income, but just can't stand sitting home bored out of their skulls.

Minimum wage in this day and age is totally unnecessary.

 

[Wyatt earp]

I always laugh at these poor ass liberal "business" owners on here

It's like every liberal you talk to here, they own their own business, independently wealthy or early retired because they made so much money, or work from home making tons of cash.

Me? I'm the only truck driver in the place.

That is one of the problems as to why a minimum wage became necessary.
It is too hard for people to unionize and gain job protection by collective bargaining.
And when one is forced to deal individually with a big company, they will always lose.
I prefer state wide minimum wage because costs vary so much, state to state.
But a good argument can be made that state legislature are too easily controlled by some large companies that can be more powerful than an individual state even.

Nope minimum wage laws across the globe came about to keep minorities from working

 

[Ray From Cleveland]

That's what you get out of reading peoples posts? "Every liberal" ?????
You don't seem to recall any conservatives doing that?

There are a few, but not every single conservative. Plus the fact they are more believable. When a so-called business owner tells me he or she supports a party that wants to tax them more, wants to increase their labor costs, wants more business regulations, wants to make their fuel costs higher, all one can do is sit there and say As the robot in the classic show Lost In Space used to say, that does not compute.

 

[Ray From Cleveland]

One of the older walmarts near me, has replaced 17 of the checkout registers with self serve. Talk about lowering their overhead with that one..

Here every Walmart is doing that.

 

[Ray From Cleveland]

Yeah, they are trying hard to recruit but too many lazy ass progs want the free stuff without dealing with other people..

Which is why our Governor is stopping all additional federal unemployment to our citizens next month. I know one woman who owns a limo company. She's been looking for drivers for the last couple of months. The day after our Governor announced his plans, she got 18 applications the next day.

 

[Mikeoxenormous]

I always laugh at these poor ass liberal "business" owners on here

It's like every liberal you talk to here, they own their own business, independently wealthy or early retired because they made so much money, or work from home making tons of cash.

Me? I'm the only truck driver in the place.

That is one of the problems as to why a minimum wage became necessary.
It is too hard for people to unionize and gain job protection by collective bargaining.
And when one is forced to deal individually with a big company, they will always lose.
I prefer state wide minimum wage because costs vary so much, state to state.
But a good argument can be made that state legislature are too easily controlled by some large companies that can be more powerful than an individual state even.

Unions may have served their purposes a long time ago, but today a Union only worries about the Unions bottom line. Local 99 was a steamfitters Union,, but couldnt figure out how a Pneumatic/Electronic technician could fit in. So they had my dues higher than the steam engineers, but my pay was higher also, which pissed off the engineers. I could do a lot more than the union pukes, so my rate was higher. A union is like a communist country, they allow shit for brains to join, then punish the hard workers by having them paid the same as the shit for brains, and only make mediocre products and services....

 

[Ray From Cleveland]

Unions may have served their purposes a long time ago, but today a Union only worries about the Unions bottom line. Local 99 was a steamfitters Union,, but couldnt figure out how a Pneumatic/Electronic technician could fit in. So they had my dues higher than the steam engineers, but my pay was higher also, which pissed off the engineers. I could do a lot more than the union pukes, so my rate was higher. A union is like a communist country, they allow shit for brains to join, then punish the hard workers by having them paid the same as the shit for brains, and only make mediocre products and services....

The real problem with unions is they virtually take over the whole damn company. They tell the company who they can hire, who they can fire, who they can or can't promote, and this is on top of wage and benefit demands.

The last union customer we had, the workers voted to get rid of the union. The most senior worker got the top paying job when it became open, but the problem was he couldn't do the job. From what I was told, he was a waste of air space before he got that position. The owner of the company had to do that job for him every day.

The workers got fed up. They met in the company cafeteria and had a vote. The next day, that guy who had the highest paying job was laid off, and somebody with better abilities took the position. Plus the company got rid of a few other workers who were worthless as well. The shipper told me the employees have never been happier. This was brewing for some time, but that guy who got that top paying position was the last straw.