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The Water Cooler
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The Seattle implosion is gaining momentum thanks to the $15 minimum wage
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<blockquote data-quote="NightShade" data-source="post: 3120142" data-attributes="member: 29706"><p>Too many people smoke the the double digit minimum wage sauce. They also think we should tax businesses at 50%. The thing is that when the wages are too high jobs are reduced and/or moved to a point where the wage is lower. Seattle has suburbs that do not have to comply with the minimum wage I am sure. So all jobs that can not support a high wage will move there or just go away. Wage increases can happen but the product or service will also increase in cost which drives the idea that the wage has to increase as now the person making the purchase has to make more money since the cost of living will increase for them as well. Who wants to go to Burger King and pay 12.99 for a burger fries and drinks that costs 5.99 the next county over? </p><p></p><p>And businesses do not really pay taxes, they may on paper but lets say business A makes a product and they know the cost to make the product and the approx amount sold in a year, they can figure what their tax burden would be on the product (or service) and increase the cost by an amount that will cover the tax on the product so they can pass it on to the consumer. The only thing that happens in that situation is the business will move to an area with a reduced tax burden or other businesses who make the same product will profit more due to their product being cheaper in the eyes of the consumer. Some people will pay a higher price due to the branding but a large number will switch to another brand or a generic. If you decided to go buy something today that was two bucks a box yesterday and it mysteriously jumped up to four or five bucks a box but the competitor was still three bucks per box for the same basic item which would you buy?</p></blockquote><p></p>
[QUOTE="NightShade, post: 3120142, member: 29706"] Too many people smoke the the double digit minimum wage sauce. They also think we should tax businesses at 50%. The thing is that when the wages are too high jobs are reduced and/or moved to a point where the wage is lower. Seattle has suburbs that do not have to comply with the minimum wage I am sure. So all jobs that can not support a high wage will move there or just go away. Wage increases can happen but the product or service will also increase in cost which drives the idea that the wage has to increase as now the person making the purchase has to make more money since the cost of living will increase for them as well. Who wants to go to Burger King and pay 12.99 for a burger fries and drinks that costs 5.99 the next county over? And businesses do not really pay taxes, they may on paper but lets say business A makes a product and they know the cost to make the product and the approx amount sold in a year, they can figure what their tax burden would be on the product (or service) and increase the cost by an amount that will cover the tax on the product so they can pass it on to the consumer. The only thing that happens in that situation is the business will move to an area with a reduced tax burden or other businesses who make the same product will profit more due to their product being cheaper in the eyes of the consumer. Some people will pay a higher price due to the branding but a large number will switch to another brand or a generic. If you decided to go buy something today that was two bucks a box yesterday and it mysteriously jumped up to four or five bucks a box but the competitor was still three bucks per box for the same basic item which would you buy? [/QUOTE]
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The Seattle implosion is gaining momentum thanks to the $15 minimum wage
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