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California lawmakers approve hiking minimum wage to $15

grip said:
Enough for Yellen to raise interest rates?
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she isn't going to raise interest rates on what CA does but what the entire economy does.
are you really reading what you are responding to or are you just throwing crap at a wall?
 
Chomsky said:
Automation takes place continuously, regardless.

You are right though, in that it could hurry it in a bit. But it's all a matter of degree.

But as automation continues, no amount of cheapening one's wage will stop it. That's just a race to the bottom!
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having a job is better than pricing yourself out of one.
we will see how well these people that do manage to retain their job
will react when they find out they lose their government benefits as well.

when people in seattle found out they started demanding less hours.

what about people just entering the market? no one is going to hire them.
they just set new workers up for failure. teenage unemployment is already
high I see it getting worse. even more so for minorities.

it is only going to get worse when all those people that were making 15 an hour now
want more for doing more work.
 
Chomsky said:
You are!

Because if you're like most of us, you're not going to flip burgers under crappy demeaning conditions seven days a week, for starvation wages and no benefits.

So now you're gonna' give a little back, for what you enjoy.

Sound fair?

You can always fire-up the Weber if you disagree ...
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And that's not an uncommon solution when prices increase.
 
ludin said:
you evidently don't understand.
market fluidity stop what you say from happening.

not only that but we have a thing called the federal reserve that monitors the money supply to ensure that there is enough.
which is why I said no one can control all of the money.

well technically the federal reserve controls the money supply but that is not what you were referring to.
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jimbo said:
Does that include the part of the global where jobs tend to go when the wage spread tends toward 12 or 13 bucks an hour?
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The majority of wealth does not have to be concentrated into a small percentage. It's not healthy or even advantageous for the majority. That's just simple common sense.
 
Arguably, higher wages means more spending power, which means more business revenue, which means business can afford to pay the new minimum wage.

How can people making the current minimum wage in CA afford to buy luxury goods?

Just saying it's not as cut and dry as supply/demand economics. If you don't make enough money to afford survival goods then it falls to the government to provide, and then taxes go up. Raising the minimum wage is one way to transfer the burden from the general public/welfare to the private sector.
 
ludin said:
she isn't going to raise interest rates on what CA does but what the entire economy does.
are you really reading what you are responding to or are you just throwing crap at a wall?
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If you're the wall, open wide.
 
grip said:
The majority of wealth does not have to be concentrated into a small percentage. It's not healthy or even advantageous for the majority. That's just simple common sense.
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this is just rhetoric.

do you not realize that there are reasons that low skill jobs pay low wages?
do you not realize that there is a reason that high skilled jobs pay better wages?

when you start raising the bar like that you push all the other bars up because those people are not going to work for minimum wage.

you then price low skill no skill workers out of a job because who the hell is going to pay a bag boy 15 an hour?
who is going to pay a dishwasher 15 an hour or a bus boy?

no one.

you now want to flip burgers? you better go to school and get a cooking degree because most starting chefs at a decent restaurant start at 15 an hour.
there are consequences to actions.

the CA government basically told a ton of skilled labor people that their skills are nothing more than low skill pay.
they just devalued thousands of jobs across the state.

more than likely those people will not get raises to offset the hike and will probably be lucky to keep their job.
 
grip said:
If you're the wall, open wide.
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you really need to make sense before you post. this has nothing to do with anything
 
Northern Light said:
Arguably, higher wages means more spending power, which means more business revenue, which means business can afford to pay the new minimum wage.
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which means price increases for all those people as well. if anything of past trends show there will be little help to people making the new minimum wage.
there will be huge job losses or no job created and all those that didn't get a raise will see a pay cut as prices increase.

How can people making the current minimum wage in CA afford to buy luxury goods?
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you work and save.

Just saying it's not as cut and dry as supply/demand economics. If you don't make enough money to afford survival goods then it falls to the government to provide, and then taxes go up. Raising the minimum wage is one way to transfer the burden from the general public/welfare to the private sector.
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not when those people lose their jobs.
 
Paleocon said:
Are they accompanying it with price maximums? If not it won't do any good for more than a little while.
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As long as people can afford to live wouldn't that be fair?
 
SocialD said:
how is that fair though. you have areas in California where a living wage would be 9.60 and other areas where its like 14.87. So those rural counties are going to have some pretty big labor cost hikes.
Same reason a national one doesn't make sense because cost of living is widely variable.
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Okay, I'll go for $30 an hour and most large corps would still rake in profits.
 
ludin said:
which means price increases for all those people as well. if anything of past trends show there will be little help to people making the new minimum wage.
there will be huge job losses or no job created and all those that didn't get a raise will see a pay cut as prices increase.



you work and save.



not when those people lose their jobs.
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This is all supposition. We will have to wait and see what happens in CA now won't we?
 
grip said:
As long as people can afford to live wouldn't that be fair?
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Yes. I'm a supporter of comprehensive price and wage regulation. My concern with the minimum wage raisers is that they're in a vicious circle. Minimum wage hikes will simply be met by price increases, unless those also are restricted.
 
grip said:
As long as people can afford to live wouldn't that be fair?
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Minimum wage doesn't do anything outside of the short term. It's essentially a temporary fix that constantly needs to be boosted to keep its effect.
 
jimbo said:
And that's not an uncommon solution when prices increase.
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Fair enough.

The amount of rise is hard to determine due to all the FUD propagated, so I guess we'll just have to watch Seattle for some clues.

But I'm not aware of any serious legit problems there, at this point in time.
 
Henrin said:
Minimum wage doesn't do anything outside of the short term. It's essentially a temporary fix that constantly needs to be boosted to keep its effect.
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The starving eat day by day and will be satisfied with that much.
 
Paleocon said:
Yes. I'm a supporter of comprehensive price and wage regulation. My concern with the minimum wage raisers is that they're in a vicious circle. Minimum wage hikes will simply be met by price increases, unless those also are restricted.
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It's not even that it causes increases, but that it changes no underlining issues.
 
grip said:
The starving eat day by day and will be satisfied with that much.
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Minimum wage is a feel good policy that makes people feel better, but keeps the problem untouched. If you want to go around putting band aids on things be my guest, but you're wasting your time.
 
grip said:
Okay, I'll go for $30 an hour and most large corps would still rake in profits.
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after they fired the majority of their workers.
 
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