Seattle raises minimum wage to $15/hr

[mrsleeve]

Oh good, thank god sleeve is here to give us an economics lesson

Why don't you show us the math behind your thorough analysis?

Must be fun to live in your world, I wish I didnt have to live in reality.....

http://dailycaller.com/2014/03/31/st...-unemployment/

You raise your over head you have to raise your prices. You dont have to worry too much about keeping a competitive edge because all your competition has to do the same. All that extra money has to come from somewhere, and I dont know a business owner thats not out to make money for him self, so cutting into already slim profit margins (in many of the service industries that employ large amounts of Minimum wage workers) is going to be one of the last things on the list to "absorb" the increased over head costs.

[einhander]

A better option is to enhance the earned-income tax credit. Let people keep more of their money.

Then again, only 30m people make minimum wage so raising that threshold will certainly cause some job loss, but at the same time a number of people will move out of poverty/working-poor and consume more.

Tricky one.

[MF DOOM]

A number of people moving out of poverty at the cost of others moving deeper into it???

[einhander]

A number of people moving out of poverty at the cost of others moving deeper into it???

That's what we're discussing.

I thought that was obvious?

[Vivek]

and watch the small business and service providers FLEE like rats from a sinking ship. Your fancy coffee is well on its way to 8.50+ from the 5 smacker mark, welcome to the the 5 dollar value menu and the 15 dollar Mc Value meal..... This is such a great plan, oh well there are lots of rich people with too much money in the PNW I guess this will help to spread it around..... Its nice to see that those on the bottom will be getting a 33%+ pay increase only to see a similar cost of living increase to go with it, assuming you can keep your job with the associated layoffs with such a sharp mandated increase in overhead . Yup this will help, the unemployment rates will be going way up......

Not to mention all this does is hurt those that have advanced their skill sets, gotten education, and otherwise advanced up the wage ladder by earning it and working for it by allowing those that haven't to earn the same or similar money with out the skills.

Damn for one time in your life something you posted makes sense.

[einhander]

Damn for one time in your life something you posted makes sense.

Except he's assuming that all fast food workers and baristas make minimum wage...

But I do agree with him, which is weirding me out.

[mrsleeve]

A better option is to enhance the earned-income tax credit. Let people keep more of their money.

Then again, only 30m people make minimum wage so raising that threshold will certainly cause some job loss, but at the same time a number of people will move out of poverty/working-poor and consume more.

Tricky one.

How about we totaly get rid of the Income tax and move to the fair tax and let everyone keep all the money they earn

[einhander]

How about we totaly get rid of the Income tax and move to the fair tax and let everyone keep all the money they earn

I'm down.

[MF DOOM]

That's what we're discussing.

I thought that was obvious?

I was asking if it made sense to you and thats what you were in favor of.. I know sometimes its hard to sense tone from text but...... I thought it was obvious.. maybe not so much

[decay]

http://www.policymic.com/articles/88711/one-year-later-here-s-what-san-jose-looks-like-after-raising-the-minimum-wage

feel free to keep up the chicken little act, but here's a thing about people who make minimum wage- they are not savers. that means, when you give them more money, they go out and *spend it*. do i need to explain why that's a good thing?

bonus points to Vivek for being a fresh high-school graduate arguing that the minimum wage shouldn't be higher. "i LIKE my chains! they're shiny."

[einhander]

Just read article - good points.

[Todd Black 88]

Didn't read you article decay, but the obvious thing about minimum wage earners not being savers is.......they don't make enough to save. They need to spend every last cent they make just to survive and pay bills. IF there is any little bit left, they do spend it as a treat for working a meaningful (they all are) job and barely getting by.

If they earn more, they will still spend it for the first few years like a fat kid in a candy shop, but they may be able to save..... One day.....because they now have a choice.


Now read it. Good points.

[MR E30 325is]

I am another guy who rarely posts, but always disagrees with Sleeve, but I am with him on this one.

My argument: Most people think most things should be given to them. Its a rarity to see someone put in intense hard work for a long time to get to where they want to be. Raise my minimum wage because 8-9 dollars just isn't enough for me to have the newest cell phone or drive my BMW. No shit it isn't enough, you're flipping burgers! Your job requires no skill, and at best, your job helps make people obese!

You work a job when you are 16-21 where you don't get paid shit for your time, as a motivator to yourself, so you think, "Hell, I never want to work for so little again, let me better myself through education, or a worthwhile trade, etc."

If you are older and work in a shit show like Arby's/Wendy's, YOUR CHOICES got you there! Too many people like to pass the blame and come up with excuses as to why they are where they are, and they love bitching about their jobs and lifestyles, not realizing that the negativity they harbor in their minds spreads to every other aspect of their lives.

Call me an asshat, but I have no sympathy for anyone who isn't willing to put in a little work, get their hands dirty, and EARN a better quality of life.

[mrsleeve]

wow I am surprised by some in here

Enihorn Dont worry I feel weird too

[Hooffenstein HD]

I don't see how anybody can even live on $15 an hour unless working 60+ hour weeks.