If there isn't a minimum pay then employers will seek labor for as little as they can get it.
But in a footnote, the nonpartisan number cruncher explained that near-term job loss may be higher because its analysis didn't factor in the new ObamaCare costs imposed on employers.
"At the same time that the proposed increases in the minimum wage would take effect, the Affordable Care Act's requirement that many employers provide health insurance (or pay a penalty if they do not) will impose an additional cost on employers for some low-wage workers who do not currently have employment-based health insurance," the CBO said.
Over time, the CBO expects that the cost of complying with ObamaCare's employer mandate "will ultimately be borne by (low-wage) workers through lower wages."
So I'm going to take a gamble here and just be up front about my lack of understanding when it comes to economics and run this by you all:
It seems to me that the questions around wage comes down to the ethics of the company making the decision (at least for larger employers) Meaning it does not seem to be a question of whether or not they can stay in business if they pay their employees more or even how that choice will impact the cost of their product(s) it seems to be a question of whether or not they respect their workers enough to compromise on their profits a little in order to provide a living wage to them. It is possible for WalMart to pay their employees more and not pass that cost on to consumers, they would stay in business and the cost of their goods would not be affected if they made the choice to do it because it was the "right" thing to do. We all know that they will not make that choice. Not in a capitalist system that is driven solely by the largest possible profit for the business owner. Point being I guess, it seems to boil down to maximizing personal profit and prioritizing it over serving the larger good or community with just a little compromise on that profit.
LOL i love it when liberals break out these types of comments.
The average wage at walmart is already 9-12 bucks an hour depending on position.
companies pay according to market analysis of what the position around the country pays. pay scales have become pretty much standardized at this point.
Companies at walmart also target certain markets. They know the price of what people will pay and not pay in those markets. places like walmart have very low margins, and even more loss when it comes to theft.
companies have a set profit margin that they must make in order to maintain company function. so you are right they are not going to compromise on that, nor should they.
raises and increases come when they exceed those projections.
by all means please start a business overpaying your employee's while having to maintain a certain price point that people will actually pay and see how long you stay in business.
Did you ever think these companies are in business to make money? Do you think they have an obligation to the shareholders of the company? You think if a company makes money it owes it to the worker. What BS. I don't know if you have a 401K or an investment fund that may be invested in stocks, if so you want that investment to grow. Investors are invested to make money and it's up to the board of directors and the CEO to make that happen. Meaning buy materials cheap, have a streamline operation, hire people to do the job at a minimal cost, no different than buying raw materials at a minimal cost, etc etc.
Sense when are businesses to compromise anything, especially their profit line?
You've encapsulated the right wing view on this matter perfectly.Yes. Why do you consider that a problem?
Then you started your post admitting what Boehner has said countless times.i started my post my admitting I don't know alot about economics.
You've encapsulated the right wing view on this matter perfectly.
Don't let him do this do you.If you have such a fragile little ego that you need to be an ass despite that, then **** off
Don't let him do this do you.
Speak to someone of like mind when they do this and ignore them .
“At a time when persistent high unemployment is putting enormous downward pressure on wages, such a minimum-wage increase would provide a much-needed boost to the earnings of low-wage workers.”
“the weight of evidence now showthat increases in the minimum wage have had little or no negative effect on the employment of minimum-wage workers, even during times of weakness in the labor market.”
This finding is consistent with the most recent, highly rigorous, peer-reviewed economic literature based on an analysis of real-world minimum wage increases across counties on state borders that shows essentially no disemployment effect resulting from raising the minimum wage.2 - See more at: Raising the Federal Minimum Wage to $10.10 Will Not Lead to Job Loss | Economic Policy Institute
CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs
'Increasing the U.S. minimum wage may lift some workers out of poverty while leading to as many as 1 million job losses, according to a report from the Congressional Budget Office.
The report was seized on by House Speaker John Boehner, an Ohio Republican who opposes President Barack Obama’s call to increase the minimum wage to $10.10. The federal minimum wage is currently $7.25 an hour.
...A change in employment probably would range from a “very slight reduction” to a decrease of 1 million jobs, CBO said. Some workers would lose their jobs as companies look to offset the change by reducing payrolls, according to the report.'
CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs - Bloomberg
More money in the working man's pocket means he'll spend more at Wal-Mart. More money going back into the economy means happier businesses.
And in a related development, water is wet. Are there really people who didn't see this coming?
If the money came from wal-mart in the first place, then it's not more money going back into the economy, it's a net loss for Wal-Mart and the economy.
If only Wal-mart raises their wages, yes its a net loss. However if the wage is raised across the nation it actually improves their position. Wal-mart has been fighting for an increase for years.
Walmart Could Actually Benefit From Minimum-Wage Hike
The ability of people to deny what they do not wish to believe should never be underestimated.
Dang, I ought to put that up in quotes and trade-mark it.
Yes it would be a net loss for Wal-mart and if the wage is raised across the nation all the companies in the country loose and less workers are hired.
He'll spend more at Wal-mart, but take home the same merchandise. Cost goes up, prices go up, too. It's already happening as grocery prices are taking off.
Companies like Wal-Mart would benefit greatly because their customer base is heavily in the lower income bracket. Everyone in retail's vast supply chain would also benefit.
Whether or not this would be good or bad overall is a contentious matter. Considering all the research I think it would do more good than harm especially considering how badly the economy needs stimulus right now.
If only Wal-mart raises their wages, yes its a net loss. However if the wage is raised across the nation it actually improves their position. Wal-mart has been fighting for an increase for years.
There are other economists and credible research that tells a different story.
I think you're forgetting the Wal-Mart low price pledge
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