As unimaginable as this is..........it's getting worse.

I just watched it happen with a smaller increase at my CC. Heard the same gloom & doom from the financial committee. Small price increase, no layoffs and some happy servers.
Many studies dispute any thing close to the high estimate from the CBO.
https://www.marketwatch.com/story/1...oesnt-cut-jobs-berkeley-study-says-2019-07-08
Think of it as a tax cut for the first quartile.

 

Total labor cost is a significant percentage of production costs. Why do you think foreign auto manufacturers locate in “right to work states”.

 

Those studies are flawed as Neumark and Walscher prove. You can find studies to support any contention. Google 2+2=5.

 

Competition. There is no minimum wage in the auto industry.

 

Yep. That's one reason I used my own experience.

 

Total labor cost.

 

Your experience is 2+2=5 ???

 

They are looking for a competitive advantage. They wouldn't do that if everyone had the same labor costs.

 

I'll just ignore this since it has no value.

 

Dude that varies by industry just so you know.

 

Exactly. Total labor cost matters.

 

Why doesn’t total labor cost matter to your business ??

 

Not if everyone has the same. See how that works?

 

You have the exact same total labor cost as your competitors ??? How do you maintain market share ??

Do you sell more product at higher prices if your total labor cost goes up ???

 

In my businesses I have always worked to cut product costs, not screw my employees.
Much better for moral.

 

I sell more bugers because more people can afford to buy it. Waaay more.

 

How much difference do you think there is in minimum wage jobs?

 

If the government said that you had to pay your employees twice as much that would not affect your business??

 

If your labor cost doubled that wouldn’t affect your business ??

 

We are talking burger flippers, not engineers.
43 million people with $15,000 more in their pockets buy a lot of burgers.
Think of it like a stimulus.

 

And a lot less of other things. That’s why raising the minimum wage reduces employment especially those kids from low income families with poor educations and no work experience. Raising prices results in lower consumption. You claim 2+2=5.

Just think how the economy would boom if the minimum wage was $50 per hour. All those people with all that money.

 

They call it minimum wage for a reason.

Why is our unemployment not worse instead of better with all these wage increases?
http://www.ncsl.org/research/labor-and-employment/state-minimum-wage-chart.aspx

 

Wrong question. Employment of kids from low income families with poor educations and no work experience would be significantly higher. Why are you opposed to this ??

 

What makes you think that is happening?

 

Everything I’ve read and posted about raising the minimum wage. What makes you believe this isn’t happening ???

Would you pay a kid who didn’t graduate from high school and couldn’t make change, keep to a schedule, and read at a sixth grade level $15 an hour starting wage.