jknowgood
Diamond Member
- Aug 12, 2010
- 58,000
- 27,026
Minimum wage is $7.50 an hour.Okay, so you don't want to take inflation into account. The value of your labor goes down if you don't keep pace with inflation, no matter how hard you work.I didn't say to do that. Labor should go up with inflation just like everything else. Expecting to pay someone a minimum wage that has been in effect for 10 years is retarded.I don't get why so many business owners treat labor as a fixed cost. It is anything but. Prices go up for everything, including labor.Here are more people being enlightened with basic economics.....
Seattle Minimum Wage Kills Jobs Hurts Students PJ Tatler
Students at the University of Washington in Tacoma are getting an object lesson in the value of a dollar. As economic dominoes fall in the wake of a municipal minimum wage hike to $15 per hour in Seattle, university students find themselves digging deeper into their pockets to cover higher prices resulting from the mandate.
Elsewhere, small-business employees initially thrilled by the “raise” granted them by the city have since learned that they’ll be losing their jobs later this year. Red Alert Politics reports:
[Z Pizza] owner Ritu Shah Burnham said she just can’t afford the city’s mandated wage hikes.
“I’ve let one person go since April 1, I’ve cut hours since April 1, I’ve taken them myself because I don’t pay myself,” she told Q13. “I’ve also raised my prices a little bit, there’s no other way to do it.”
And shame on people paying minimum wage just because the government enables them to do so.
Why pay people more than their labor is worth?
If the value of their labor didn't go up, why pay them more? More importantly, why pay them $15 an hour? Are they going to become more productive? Can the owner raise prices to maintain his profit margin?
The value of your labor goes up when the value you produce goes up. In most instances it means you get promoted or move on to a better position. Expecting to make more money while providing the same value is silly.
Don't start a business, Marty, and expect to find someone that will work for you for $3.25 an hour.