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$15 an hour minimum wage.
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<blockquote data-quote="brett636" data-source="post: 1330521" data-attributes="member: 249"><p>This is the basic laws of economics in practice. I don't know why you even bothered saying this as I had already stated it. To better define what this means you need to understand that resources are finite. There are only so many cows being grown for beef, so many acres of farmland being grown into edible corn, there can only be so much iron mined from the ground, etc. This is scarcity of resources as the value of these resources rises and falls based upon both the available supply of said resources as well as the market demand. My point was that if more people have money to buy beef then the price will rise because the supply remains constant. This is true across all of lifes necessities and desires. If more people have more money they buy more stuff, and that stuff becomes more expensive as a result because there is only so much stuff to go around. </p><p></p><p></p><p></p><p></p><p>This is a classic misunderstanding of how businesses work and why they are in business. A business's main objective is not to employ people, but to increase the wealth of the owners of said business. The basic equation is this: Inflow of cash - outflow of cash = profit. That profit is not a number for you, me, or any politician to decide. Its based upon the market forces that dictate that business and industry. If you increase the outflow of cash then you need an increase in the inflow of cash in order to keep things in balance. This would mean a price increase. I know your basic argument is that with a higher minimum wage there will be a higher inflow of cash, but that isn't guaranteed. To say they can simply increase production/buying is saying they need to take a double whammy on their cash outflow both in higher labor costs, and increase production in hopes to keep prices in check, but prices will ultimately have to rise in order to accommodate this higher outflow of money. </p><p></p><p></p><p></p><p></p><p></p><p>You are right that people aren't attracted to minimum wage jobs, but they take them anyway because if they want to eat they better work. The argument for the minimum wage was eviscerated years ago when the minimum wage stayed the same for over 10 years yet finding jobs that paid only minimum wage became more and more difficult as businesses saw that fewer and fewer people were willing to work them even at low skill levels. My argument is the minimum wage is unnecessary and if eliminated today nothing would change for the vast majority of this country's workforce. </p><p></p><p></p><p></p><p></p><p></p><p>Again, you flaunt your ignorance on the basic rules of business. Labor is among the largest expenses for a business including large companies like Mcdonalds and walmart. I'm not sure where you got your $.16 price increase from(or maybe you meant $16?), but it isn't from the realm of reality I can tell you that. You increase the labor expense a business has two options, reduce employment, or increase prices, and there is a good chance both will occur. </p><p></p><p></p><p></p><p>The reduction in employment will come in a reduction of the total number of jobs available at places like McDonalds. If the average pay for your basic McDonald's worker increases to $15 an hour you will see cashiers replaced by touchscreens where you input the order yourself. You may even see burger flippers and fry fillers replaced with automated machines that can do the same work for less and be more consistent. I don't know where you get the audacity to say how many jobs a person should work, but if that person doesn't want to work multiple jobs why aren't we advocating change careers or increasing skillsets? Wait, I know why, because that's how a healthy job market works and having a healthy job market isn't the goal here.</p></blockquote><p></p>
[QUOTE="brett636, post: 1330521, member: 249"] This is the basic laws of economics in practice. I don't know why you even bothered saying this as I had already stated it. To better define what this means you need to understand that resources are finite. There are only so many cows being grown for beef, so many acres of farmland being grown into edible corn, there can only be so much iron mined from the ground, etc. This is scarcity of resources as the value of these resources rises and falls based upon both the available supply of said resources as well as the market demand. My point was that if more people have money to buy beef then the price will rise because the supply remains constant. This is true across all of lifes necessities and desires. If more people have more money they buy more stuff, and that stuff becomes more expensive as a result because there is only so much stuff to go around. This is a classic misunderstanding of how businesses work and why they are in business. A business's main objective is not to employ people, but to increase the wealth of the owners of said business. The basic equation is this: Inflow of cash - outflow of cash = profit. That profit is not a number for you, me, or any politician to decide. Its based upon the market forces that dictate that business and industry. If you increase the outflow of cash then you need an increase in the inflow of cash in order to keep things in balance. This would mean a price increase. I know your basic argument is that with a higher minimum wage there will be a higher inflow of cash, but that isn't guaranteed. To say they can simply increase production/buying is saying they need to take a double whammy on their cash outflow both in higher labor costs, and increase production in hopes to keep prices in check, but prices will ultimately have to rise in order to accommodate this higher outflow of money. You are right that people aren't attracted to minimum wage jobs, but they take them anyway because if they want to eat they better work. The argument for the minimum wage was eviscerated years ago when the minimum wage stayed the same for over 10 years yet finding jobs that paid only minimum wage became more and more difficult as businesses saw that fewer and fewer people were willing to work them even at low skill levels. My argument is the minimum wage is unnecessary and if eliminated today nothing would change for the vast majority of this country's workforce. Again, you flaunt your ignorance on the basic rules of business. Labor is among the largest expenses for a business including large companies like Mcdonalds and walmart. I'm not sure where you got your $.16 price increase from(or maybe you meant $16?), but it isn't from the realm of reality I can tell you that. You increase the labor expense a business has two options, reduce employment, or increase prices, and there is a good chance both will occur. The reduction in employment will come in a reduction of the total number of jobs available at places like McDonalds. If the average pay for your basic McDonald's worker increases to $15 an hour you will see cashiers replaced by touchscreens where you input the order yourself. You may even see burger flippers and fry fillers replaced with automated machines that can do the same work for less and be more consistent. I don't know where you get the audacity to say how many jobs a person should work, but if that person doesn't want to work multiple jobs why aren't we advocating change careers or increasing skillsets? Wait, I know why, because that's how a healthy job market works and having a healthy job market isn't the goal here. [/QUOTE]
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