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Old 01-28-2014, 08:50 AM  
Msmith Msmith is offline
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Minimum wage will go up to $10.10 according to the Prez

It is only for new federal government contracts for services, like janitors and construction workers. What happens to the $15 minimum wage the fast food workers want?

Link: http://news.yahoo.com/obama-orders-m...010928340.html
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Old 02-12-2014, 06:05 PM   #76
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Welp, there goes the federal government's ability to operate on an efficient and cost-effective bas- er, never mind.
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Old 02-12-2014, 06:06 PM   #77
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Quote:
Originally Posted by Loneiguana View Post
You honestly think McDonald's would knowingly raise prices and attract less customers?

What do you think will earn them more money in the long run?

They raise prices past what you are willing to accept, having a person like you eat out a third less....

or

They pay for the wage increase through various different measures - less total profit, expected increase productivity, lower employee turnover, so less training costs, ect -- attempting to keep prices stable in order to continue to bring in business?
...or they'll just continue the slow and steady price creep
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Old 02-12-2014, 10:49 PM   #78
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Originally Posted by Bowser View Post
You could be right, for anything is possible, but I would bet that we will all see higher costs across the board with food, much less with just dining out. Businesses aren't in business to aim for "less total profit". They'll get theirs.
Businesses have been making record profits for 2 to 3 decades now. They turned all the productivity gains from automation and the Internet straight into more profit for their executives and shareholders. If they have to give a tiny percentage of that back in the form of slightly higher wages for the bottom rung of workers, I think they'll survive.
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Old 02-13-2014, 08:28 AM   #79
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[quote=Loneiguana;10430243]You honestly think McDonald's would knowingly raise prices and attract less customers?

What do you think will earn them more money in the long run?

They raise prices past what you are willing to accept, having a person like you eat out a third less....

or

They pay for the wage increase through various different measures - less total profit, expected increase productivity, lower employee turnover, so less training costs, ect -- attempting to keep prices stable in order to continue to bring in business?[/quote]

.........less profit? Yeah right. why don't they buy some inferior raw materials while they are at it.
increased productivity? how do you do a lean analysis on fast food hamburger cooking? Process optimization in fast food...not enough gain there to pay increased wages....Let's get those teenagers to work harder and faster when we do that, we can lay off a few for all this new found productivity
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Old 02-13-2014, 08:34 AM   #80
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Quote:
Originally Posted by Msmith View Post
It is only for new federal government contracts for services, like janitors and construction workers. What happens to the $15 minimum wage the fast food workers want?

Link: http://news.yahoo.com/obama-orders-m...010928340.html
Dumbest thing since Obamacare, so I'm not at all surprised at this. Anyone who thinks otherwise should make Economy 101 For Dummies their Bible...
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Old 02-13-2014, 08:43 AM   #81
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Originally Posted by Bowser View Post
You could be right, for anything is possible, but I would bet that we will all see higher costs across the board with food, much less with just dining out. Businesses aren't in business to aim for "less total profit". They'll get theirs.
This is exactly what happens in every free market model ever applied. The ironic thing is in the end, it will end up hurting most of the very people it is supposed to be helping. Everything will adjust to scale - including payroll adjustments / hours available/ # of employees etc. (still the #1 expense of a company) - to make profits. When you force a change on a free economic model, holding everything else in check, the result is one sided - every time.
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Old 02-13-2014, 09:02 AM   #82
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Originally Posted by suzzer99 View Post
Businesses have been making record profits for 2 to 3 decades now. They turned all the productivity gains from automation and the Internet straight into more profit for their executives and shareholders. If they have to give a tiny percentage of that back in the form of slightly higher wages for the bottom rung of workers, I think they'll survive.
Nice to know the company called, "Business" is doing so well.
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Old 02-13-2014, 09:17 AM   #83
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I’m sure there are studies to back or refute this but, I would assume raising the minimum wage while having many different consequences will push the price of everything up a little bit over a period of time as. This will help those that keep their minimum wage jobs for a little while and hurt those above it for a little while. The natural cycle of things will push up the wages of the middle class to recoup their loss in purchasing power again nudging the prices of goods up for everyone returning the minimum wage earner to the same situation as before. Lather rinse and repeat.
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Old 02-13-2014, 09:21 AM   #84
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Quote:
Originally Posted by suzzer99 View Post
Businesses have been making record profits for 2 to 3 decades now. They turned all the productivity gains from automation and the Internet straight into more profit for their executives and shareholders. If they have to give a tiny percentage of that back in the form of slightly higher wages for the bottom rung of workers, I think they'll survive.

The problem is that you think they'll just give that tiny portion back and not worry about the loss of profits.
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Old 02-13-2014, 09:24 AM   #85
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Quote:
Originally Posted by suzzer99 View Post
Businesses have been making record profits for 2 to 3 decades now. They turned all the productivity gains from automation and the Internet straight into more profit for their executives and shareholders. If they have to give a tiny percentage of that back in the form of slightly higher wages for the bottom rung of workers, I think they'll survive.
Agreed, but the key word in your statement is "If".

Do you honestly think companies will give back profits for "the greater good"?
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Old 02-13-2014, 10:17 AM   #86
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Originally Posted by Bowser View Post
Agreed, but the key word in your statement is "If".

Do you honestly think companies will give back profits for "the greater good"?
WE HAVE TO MAKE THEM DO IT
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Old 02-13-2014, 10:22 AM   #87
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My wages haven't stagnated, and in fact have made significant gains.
Why is that? It's because I worked shit jobs to acquire an education and have done many jobs considered "beneath" many people. I have acquired a skill set, I have worked my ass off to build a reputation in my industry that has put me in demand.

Minimum wage jobs are not careers, they are stepping stones. If someone isn't using it that way, they are the only ones to fault.

It baffles me as an employer and productive worker in addition to consumer that so many people can't understand how price points are set. I guarantee a chain reaction and I guarantee prices on goods and services will go up to offset the costs to businesses, especially small business. The impact to the employer goes beyond the actual wage increase, it also raises the tax burden of that employee on the employer as well as their cost to things like 401k. Raising the wage $3 probably will cost $5/hr more per employee.

It doesn't matter what the bottom wage is, because the person that wage will always be at the bottom of the financial food chain until they do something to change that.


Quote:
Originally Posted by Loneiguana View Post
Yes. That's the point.

Your wages have been stagnated because the bottom tier wages have been stagnated and actually declined.

If the minimum wage was something you could actually live on without government support, more people would be willing to work those jobs, taking demand off middle class jobs. Less demand for your job helps you get more money.

It's amazing that you guys will actually cheer against something you admit would help you get better wages.

And prices do not increase beyond a markets tolerance. Prices represent what you are willing to pay, the buyer sets the price. Plus, most labor only accounts for 30 percent of operations. Even if 100 percent of a wage increase went into prices (which never happens), you won't see prices double.

In a truly open and free market place, the last thing you do is raise prices because your competitor can and will use that to take your customers.

The larger chain reaction is more money flowing through the system with an increased in demand for goods and services, which in turn creates jobs.
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Old 02-13-2014, 10:44 AM   #88
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Old 02-13-2014, 10:57 AM   #89
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Originally Posted by Iowanian View Post
My wages haven't stagnated, and in fact have made significant gains.
Why is that? It's because I worked shit jobs to acquire an education and have done many jobs considered "beneath" many people. I have acquired a skill set, I have worked my ass off to build a reputation in my industry that has put me in demand.

Minimum wage jobs are not careers, they are stepping stones. If someone isn't using it that way, they are the only ones to fault.

It baffles me as an employer and productive worker in addition to consumer that so many people can't understand how price points are set. I guarantee a chain reaction and I guarantee prices on goods and services will go up to offset the costs to businesses, especially small business. The impact to the employer goes beyond the actual wage increase, it also raises the tax burden of that employee on the employer as well as their cost to things like 401k. Raising the wage $3 probably will cost $5/hr more per employee.

It doesn't matter what the bottom wage is, because the person that wage will always be at the bottom of the financial food chain until they do something to change that.
How dare you improve yourself. Don't you know that you are supposed to be stuck in a hole that you can't emerge from?
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Old 02-16-2014, 03:34 PM   #90
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this is ****ing bullshit!! i am a fortune 500 company exec and i want my greed and power!

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