eflatminor
Classical Liberal
- May 24, 2011
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...name the businesses in your area that can just lay off people because the minimum wage increases?
McDonalds
Can the liquor stores, sub shops, fast food, you name it, get by without those people and if they can why do they have those minimum wage workers working there now?
It's not a matter of "getting by without them", it's a matter of investing in technology that replaces those workers (same for outsourcing). The higher your force wages, the more likely that technology becomes a good investment for the company's owners, which means some will loose their MW job entirely.
If the business doesn't need them, why not get rid of them now and save $290 per week for a 40 hour week?
That's exactly what they're doing, including McDonalds. The investment in technology that will replace those workers is worth it...thanks to your support of centrally controlled prices. Well done.
Saving the business $14,500 per year plus $1,109.25 for the payroll taxes is a smart thing to do at any time. That's the cost of one full time minimum wage worker, just on those two items and workers have other costs associated with them
Right, which makes the investment in technology to replace that worker (or the outsourcing of his job) all the more likely.