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The Water Cooler
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Minimum Wage - the fallout!
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<blockquote data-quote="Commander Keen" data-source="post: 2774294" data-attributes="member: 9126"><p>Some people, it seems, are doomed to forever be a drain on society. They simply don't want to put in the work necessary to get of the government teat. </p><p></p><p>Many people think they will make more I'd the minimum wage goes up. For a short while after a minimum wage hike that could happen. Then prices for goods and services will increase to offset increased costs due to the higher minimum wage. </p><p></p><p>The folks at the bottom of the barrel will still be at the bottom, but what has happened to everyone who makes more than the minimum wage? They've essentially taken a pay cut, because their wages haven't gone up (unless they're union, and their wages are tied to the minimum wage) but prices for goods and services have.</p><p></p><p>And we haven't even mentioned increased competition for these jobs due to the wage increases. People who wouldn't take a given job for $8/hour all of a sudden might not think that job is beneath them at $15/hour (even if their buying power won't have increased much, if at all). </p><p></p><p>And what about automation? A kiosk or automatic burger maker doesn't complain, doesn't no-call-no-show, or need benefits to work. The costs for these machines are coming down all the time, and higher operating costs associated with human workers make the RoI look pretty goods after a while. </p><p></p><p>Will the people who refused to learn to do anything other than make fries or take an order be qualified to operate or repair the automated equipment that replaces them? Highly doubtful.</p><p></p><p>Lastly, let's assume that these workers get an increased wage and do start bringing in substantially more money than before, with no downside. How many if them have the financially savvy to parlay those increased funds into something substantial (retirement fund, college fund, paying off existing debts, etc.) rather than big screen tv's, a fancy new car at 10% interest for 7 years, or some other status symbol? I know it doesn't account for everything, but many poor people are that way because they make poor choices and do not live within their means.</p><p></p><p>*whew*</p></blockquote><p></p>
[QUOTE="Commander Keen, post: 2774294, member: 9126"] Some people, it seems, are doomed to forever be a drain on society. They simply don't want to put in the work necessary to get of the government teat. Many people think they will make more I'd the minimum wage goes up. For a short while after a minimum wage hike that could happen. Then prices for goods and services will increase to offset increased costs due to the higher minimum wage. The folks at the bottom of the barrel will still be at the bottom, but what has happened to everyone who makes more than the minimum wage? They've essentially taken a pay cut, because their wages haven't gone up (unless they're union, and their wages are tied to the minimum wage) but prices for goods and services have. And we haven't even mentioned increased competition for these jobs due to the wage increases. People who wouldn't take a given job for $8/hour all of a sudden might not think that job is beneath them at $15/hour (even if their buying power won't have increased much, if at all). And what about automation? A kiosk or automatic burger maker doesn't complain, doesn't no-call-no-show, or need benefits to work. The costs for these machines are coming down all the time, and higher operating costs associated with human workers make the RoI look pretty goods after a while. Will the people who refused to learn to do anything other than make fries or take an order be qualified to operate or repair the automated equipment that replaces them? Highly doubtful. Lastly, let's assume that these workers get an increased wage and do start bringing in substantially more money than before, with no downside. How many if them have the financially savvy to parlay those increased funds into something substantial (retirement fund, college fund, paying off existing debts, etc.) rather than big screen tv's, a fancy new car at 10% interest for 7 years, or some other status symbol? I know it doesn't account for everything, but many poor people are that way because they make poor choices and do not live within their means. *whew* [/QUOTE]
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Minimum Wage - the fallout!
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