Can someone explain to the uninformed why raising the minimum wage to $15 can hurt everyone?
The current minimum wage is $7.25. By doubling it, how would that affect the workers and consumers?
It sounds good, but there's is more bad involved, yes?
The current minimum wage is $7.25. By doubling it, how would that affect the workers and consumers?
It sounds good, but there's is more bad involved, yes?
y
Favorite Answer
Labor cost are one of the largest controllable expenses. For each industry labor has to remain within a certain % for that business to stay profitable. Food has a very low profit rate already. Raising the cost of labor has to be balanced somewhere else. That leaves raising prices of of the product or bring that labor cost back in line, which translates to fewer hours. Usually small business, business that already are working with a small profit margin, will do both at first. Cut some hours and raise prices. They then need to see how that impacts their business. If it slows, then they need to cut more hours, possible adjust prices again. Larger business have more play and time to fiddle about about. They have ore cushion. Raising minimum pushes more mom and pops out of the picture. Take Starbucks a while back. Raising everyone's pay in Washington state. Everyone clapped. A month later they raised all their prices across the US, blamed at an increase in beans. Only at that tie, Beans were at a historic low.
Anonymous
Yeah, getting millions of Americans off food stamps is a terrible idea.
Anonymous
You American drones are some of the saddest most delusional creatures on this planet. It's crazy to watch you fools fight to give yourselves a lower wage! So-called Land of the Free has more people in prison and more people on its streets it's streets than any of the superior Nations over here in Europe. I'm so grateful that I get to watch you guys sink from another part of the world. It's crazy to think that I used to dream of living there when I was a kid!
Murzy
owners will raise their prices to cover the additional payroll expense and some jobs will be eliminated by self serving kiosks
ANDRE L
The 'conservative' view is that poor people have too much money and rich people don't have enough.
The notion that any job worth being done should be done with a pay scale that leaves the full time worker in a state of actual poverty is utter perversion.