Come on Los Angeles a minimum wage of $15 will only make things go up. What are you thoughts?
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$15 Dollar per hour minimum wage your Thoughts?
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KitKatMatt
stupid bleeding heart feminist liberal
I currently work 40 hours a week. I couldn't afford to live in the cheapest apartment even with the addition of Section 8. And this is in the country, where things tend to be cheaper.
I support this minimum wage raise.
I support this minimum wage raise.
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Gnarwhal
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It'll be keeping with inflation. Cities like San Francisco and Seattle are also seeing minimum wage increase, and it's necessary for folks who live in work in those metro areas.
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If we raise the minimum wage to $15 where does the money come from? The dollar menu then becomes the $2 or $3 menu to be able to pay the higher wages...so the end result is an increase in both the wages and the cost of everything...which will balance out so that minimum wage earner will effectively be getting the same spending power...but will be paying higher taxes and not qualifying for assistance, earned income credit, etc....so worse off in the end.
The evidence of this is that you can earn more money doing a job in some place like LA but a small basic house costs the same a huge 4 bedroom home in Houston, TX. It is an illusion.
And if someone is being paid $15 dollars and hour to assemble a hamburger, what are you going to have to pay for skilled labor? I know I am not going to be willing to kill myself as a nurse if I can make almost as much working minimum wage without needing professional liability insurance, licencing costs, and the stress of knowing that ever mistake I make might actually harms someone's life. I assume that my wage would also need to go up to reflect the training and skill I have invested in my career.
Minimum wage is not meant to raise a family on. It is supposed to be a starting point and as you gain experience and knowledge, you should be moving up the employment ladder. If you can't afford an apartment, you get a roommate or two...at least until you get a better job.
The evidence of this is that you can earn more money doing a job in some place like LA but a small basic house costs the same a huge 4 bedroom home in Houston, TX. It is an illusion.
And if someone is being paid $15 dollars and hour to assemble a hamburger, what are you going to have to pay for skilled labor? I know I am not going to be willing to kill myself as a nurse if I can make almost as much working minimum wage without needing professional liability insurance, licencing costs, and the stress of knowing that ever mistake I make might actually harms someone's life. I assume that my wage would also need to go up to reflect the training and skill I have invested in my career.
Minimum wage is not meant to raise a family on. It is supposed to be a starting point and as you gain experience and knowledge, you should be moving up the employment ladder. If you can't afford an apartment, you get a roommate or two...at least until you get a better job.
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Hardly. Fixed minimums for labor or goods are not a major factor in overall depreciation of a currency.
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Sure, but this fact is not inflation. A nation's overall currency inflation is due to the amount of money it creates. The price of the service or product you provide may indeed have to rise for you to cover the extra expense of an increased wage for your workers, but that price is not static. People may choose not to use the product or service, and you sell less overall, in which case you will need less labor creating them, and decrease your workforce to balance your expenses.
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no...you are correct, the increase in minimum wage may cost people jobs to keep companies viable and may close down other businesses ... same as the mandatory insurance has forced companies that once supplied health insurance to stop offering that perk.... regardless of what you call it, it isn't usually going to be the bottom wage earners that benefit ...
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Actually it is inflation based on the economic definition of the word:
- In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.
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MoreCoffee
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Back in the 90's, minimum wage in the US was what, $6.50 or something? It could be that the current increase in the minimum is merely a reflection of an overall inflation that has occurred from then till now. A lot has happened since then, a lot of wars and oversees adventures that had to be paid for without the corresponding major increases in taxes. If one is looking to where inflation comes from, that is the main tap, so to speak.
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Inflation isn't a "given"...and when we force artificial forces into the economic equation like minimum wages versus letting the free market determine the actual cost for a job, inflation becomes artificially induced too. The actual cost for a job is the price that someone is willing to do the job....if the wage offered is too low, then no one will take that job...if the wage is fair, then people will accept it. Common sense in my mind.
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It's important not to confuse definition with causation. That definition is not entirely accurate, though. When I inflate a balloon, this means I put more air or helium into it. The balloon's size is directly proportional to the amount of air put into it. In the strictest definition and that coincides with the exact causation - on a macro level, inflation can only occur with the printing (digital or otherwise) of more money.
Again, this has to do with expenses (like very costly wars) that governments must spend money into existence to pay for.
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That is a fair question and deserves a fair answer. Perhaps it is more a matter of the degree of funds spent into military adventures in the 90's as compared to that spent post September 11, 2001.
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MoreCoffee
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"The free market" is not free; it is under the influence and the control of mega corporations and it serves the interests of those corporations and their executives. Why else would CEO salaries be as excessive as they are? Is the CEO of Disney Corporation really worth mega millions per year? Is Rupert Murdock really the right man to control Newscorp and receive mega millions as salary? These people have led their companies into all sorts of trouble. And what of the chief executives of those major banks who got billions of tax payers money to bail them out of the excesses of debt they created with sub-prime lending? No, it is a foolish notion to say the free market will sort it all out unless one happens to be one of the folk making billions out of taxpayers as the "free market" gets bailed out by governments.
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