Elite Engineer Posted July 23, 2015 Posted July 23, 2015 In all honesty I don't really see anything good resulting from a $15/hr wage in fast food places...for starters its more than what most starting college graduates make. Secondly, The two main issues I see from this are either: - Increased food prices ---> Less buying of food products ----> Stores closing ----> less fast food jobs - Laying off a sizable amount of workers to cope with higher wage ----> less fast food jobs -your thoughts ~EE
iNow Posted July 23, 2015 Posted July 23, 2015 You seem to be basing your ideas and conclusions on some long debunked myths. http://www.dol.gov/minwage/mythbuster.htm http://www.epi.org/publication/importance-study-design-minimum-wage-debate/ https://www.americanprogressaction.org/issues/labor/news/2014/02/18/84257/evidence-shows-increasing-the-minimum-wage-is-no-threat-to-employment/ Further, the potential food price increases you cite are likely to be less than a quarter dollar per product and will thus almost certainly have no impact on aggregate purchasing behavior. 1
Elite Engineer Posted July 23, 2015 Author Posted July 23, 2015 You seem to be basing your ideas and conclusions on some long debunked myths. http://www.dol.gov/minwage/mythbuster.htm http://www.epi.org/publication/importance-study-design-minimum-wage-debate/ https://www.americanprogressaction.org/issues/labor/news/2014/02/18/84257/evidence-shows-increasing-the-minimum-wage-is-no-threat-to-employment/ Further, the potential food price increases you cite are likely to be less than a quarter dollar per product and will thus almost certainly have no impact on aggregate purchasing behavior. This actually makes me feel better. Only thing I noticed is several of the sources you cited advocate $10.10/hr, not $15/hr. The studies were not based off $15/hr wages, so I'm inclined to believe product prices may rise higher than a quarter. This also goes for the uncertainty of businesses affording $15/hr as only $10.10 was mentioned.
iNow Posted July 23, 2015 Posted July 23, 2015 (edited) Only thing I noticed is several of the sources you cited advocate $10.10/hr, not $15/hr.Mostly because that's what Obama proposed for federal workers across the country, and I suspect it was as low as it was merely in an attempt to get it through congress: https://www.whitehouse.gov/raise-the-wage The second link above to EPI covered much more than that, so read it through. However, if you want something specific to $15 and fast food, here's another (there are plenty more): http://www.peri.umass.edu/fileadmin/pdf/working_papers/working_papers_351-400/WP373.pdf Seriously, increasing minimum wage creates jobs because more workers have more money to spend. You need to understand that your foundational premise is wrong. Employers can afford it in aggregate and new demand will be created thus more jobs overall. Edited July 23, 2015 by iNow
Elite Engineer Posted July 23, 2015 Author Posted July 23, 2015 Seriously, increasing minimum wage creates jobs because more workers have more money to spend. You need to understand that your foundational premise is wrong. Employers can afford it in aggregate and new demand will be created thus more jobs overall. I really do want to be wrong here, I want nothing like this to happen. Thanks for the links, I'm feeling better.
swansont Posted July 23, 2015 Posted July 23, 2015 In all honesty I don't really see anything good resulting from a $15/hr wage in fast food places...for starters its more than what most starting college graduates make. No, it's not. $15/hr is $30k per year — if you can work full time. Median starting salary for college grads is $45k, and I suspect would be higher in NYC and other places with a higher cost of living. http://time.com/money/3829776/heres-what-the-average-grad-makes-right-out-of-college/
Sensei Posted July 23, 2015 Posted July 23, 2015 (edited) less fast food jobs That's good. Fast foods in american way is straight way to degenerate people. I don't know any other similar nation of fat people. You have not been like that 50+ years ago. What happened? Unlimited cheap crap fast food? GMO modified food? Hamburgers are good for drunk teens returning at 3 a.m. to home friday night, not as regular everyday meal. Increased food prices The more people will be cooking from scratch, the better for their healt, and cheaper for pocket. Pre-made not healty food like fries should be higher priced to people with limited funds (and lack of self discipline) force to buy regular potato and cook it in pot. It's healtier and cheaper (if they won't add liter of pre-made crap sauce...) Really healty pre-made food should be very cheap, nearly as cheap as raw contents they are made of. f.e. set up of chinesee vegetables 450 grams with prepared seasonings cost me today $1 equivalent in Auchan market. Once they were in promotion for 2 weeks for $0.75, I was buying them every single day. Chicken fillet 300 grams, $1.2. It's fried for 6 minutes, vegetables for 3 minutes.. Is 9 minutes for meal ready enough fast.. ? Chinese fast food in US = unhealty (what to expect?) noodles... Ridiculous! When "restaurant" with chinese take away noodles opened shop here, they bankrupted in a year.. Price was fine, taste also. Edited July 23, 2015 by Sensei
Phi for All Posted July 23, 2015 Posted July 23, 2015 The conservative opposition to a decent wage has been extremely successful, mostly due to the spread of misinformation like I see in the OP. Gloom & doom, can't afford to same-sex marriage because the terrorists in the Obamacare raise taxes with the minimum wage immigration welfare checks, so we shouldn't be Communists. Support the troops!
John Cuthber Posted July 23, 2015 Posted July 23, 2015 You may find it interesting to look at the nonsense that was talked by the Conservatives in the run up to the introduction of a minimum wage in the UK and their subsequent back-tracking from that position For example " The policy was opposed by the Conservative party at the time of implementation, who argued that it would create extra costs for businesses and would cause unemployment. In 1996, The Conservative party's current leader, David Cameron, standing as a prospective member of parliament for Stafford, had said that the minimum wage "would send unemployment straight back up". [8] However, in 2005 Cameron stated that "I think the minimum wage has been a success, yes. It turned out much better than many people expected, including the CBI."[9] It is now Conservative Party policy to support the minimum wage.[10]" . from https://en.wikipedia.org/wiki/National_Minimum_Wage_Act_1998 part of their "change of heart" arose from the fact that they were shone to be comprehensively wrong about all the predictions of plagues of frogs etc. 1
Phi for All Posted July 23, 2015 Posted July 23, 2015 part of their "change of heart" arose from the fact that they were shone to be comprehensively wrong about all the predictions of plagues of frogs etc. The people who vote conservatively in the US, for the most part, don't require their representatives to be on such good terms with the facts. They often make decisions with too much "heart" and not enough brains. Sometimes it seems like they'd rather continue off the cliff rather than embrace effective change.
Endy0816 Posted July 23, 2015 Posted July 23, 2015 May just see a change in who is employed in that industry rather than a sizable change in total numbers.
overtone Posted July 25, 2015 Posted July 25, 2015 (edited) part of their "change of heart" arose from the fact that they were shone to be comprehensively wrong You have some high quality conservatives in your country. I don't think I've ever seen an American conservative* politician change their mind in any significant matter because they were shown to be wrong. The entire Republican Party would have been abandoned thirty years ago. * American definition, usually self-identified. Edited July 25, 2015 by overtone
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