What happens if Biden gets his $15 minimum wage passed?

Red Jenkins said:
What ID are you talking about?
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Any of the ones you used before creating this one.


$15 MW will destroy businesses.
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How so? A $15/hr minimum wage increases demand, which increases the need for businesses to expand to meet that demand. So a $15/hr MW actually creates jobs because of increased demand that comes from low-wage workers having more money to spend.

I've never heard a business say "no thanks" to more revenue.

So that's why raising it won't kill any businesses...and if it does kill a business, then that means that business probably shouldn't have existed in the first place, or was never a "business" but a gross exaggeration.
 
Red Jenkins said:
I would love to have you reply to me but you won't accuse me of something without evidence.

I think your feelings have been damaged so I apologize that i upset you. That wasn't my intention you just have to back up what you claim .once again sorry.

As to the topic fewer jobs will be available to fewer people. People with these jobs will have more money yes but things will cost more . There will also be fewer jobs fewer people will beaking more money instead of more people making some money.
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And why do you believe there will be fewer people working? Tell me the economic argument on which you base that statement. The exact opposite is actually true. Injecting more money into consumer spending CREATES jobs, it does not eliminate them.
 
LV426 said:
Any of the ones you used before creating this one.




How so? A $15/hr minimum wage increases demand, which increases the need for businesses to expand to meet that demand. So a $15/hr MW actually creates jobs because of increased demand that comes from low-wage workers having more money to spend.

I've never heard a business say "no thanks" to more revenue.

So that's why raising it won't kill any businesses...and if it does kill a business, then that means that business probably shouldn't have existed in the first place, or was never a "business" but a gross exaggeration.
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Ma & Pa stores shouldn't be in existence?
Oh yeah,?
 
Dutch Uncle said:
96Noc7O.jpg
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So you want to "forgive and forget"?

You may want to move on from 400,000 dead of COVID and a failed Nazi coup, but I don't.
 
LV426 said:
Any of the ones you used before creating this one.




How so? A $15/hr minimum wage increases demand, which increases the need for businesses to expand to meet that demand. So a $15/hr MW actually creates jobs because of increased demand that comes from low-wage workers having more money to spend.

I've never heard a business say "no thanks" to more revenue.

So that's why raising it won't kill any businesses...and if it does kill a business, then that means that business probably shouldn't have existed in the first place, or was never a "business" but a gross exaggeration.
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Then just tell us one.

What increased demand? If I own a pizza parlor and have 10 employees and have to pay them $15 per hour what demand are you talking about? Are you saying that with more money in their pockets people will want to buy more pizza? Is that what you mean?
 
RomanDmowski said:
Ma & Pa stores shouldn't be in existence?
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Plenty of those stores can and do pay their workers at least $15/hr.

Also, they can afford higher wages that comes from increased revenues as a result of higher demand.

Giving people higher wages means those people are going to spend more in the economy.

Do you not want the economy to grow?
 
Micawber said:
Well, it would appear that according to your map human misery in the US would be approximately cut in half with a doubling of menial wages.
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I thought you had a Ph.D. in Economics. You’re making several assumptions here that would have to exist that don’t in the real world, most notably that the Quantity Theory of Money is wrong.
 
Red Jenkins said:
Then just tell us one.
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Nah...I'd rather you tell us why you felt compelled to create this ID when you did.


What increased demand?
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Higher wages increase demand because people have more money to spend in the economy if their wages are increased.

This is what you learn in Econ 101.


If I own a pizza parlor and have 10 employees and have to pay them $15 per hour what demand are you talking about?
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The demand of all the people whose wages were raised who can now afford a pizza. So you are paying $15/hr for employees, but then those same employees are spending their money buying pizza from their own job...and they're buying more pizzas than before because they have more money to spend!

It's no different than what Henry Ford did with his workers; paying them a wage high enough that they could afford the product they make...THUS CREATING DEMAND.

He may have been a Nazi sympathizing monster, but Ford knew economics. Better than you.
 
LV426 said:
Plenty of those stores can and do pay their workers at least $15/hr.

Also, they can afford higher wages that comes from increased revenues as a result of higher demand.

Giving people higher wages means those people are going to spend more in the economy.

Do you not want the economy to grow?
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A sizable number of small business owners work for less than minimum wage to build up a business in the early years.

A sizeable number of small businesses won't make it.

It's a lot worse with Covid 19 & it will be a lot worse with a 15 dollar minimum wage.
 
anonymoose said:
I thought you had a Ph.D. in Economics. You’re making several assumptions here that would have to exist that don’t in the real world, most notably that the Quantity Theory of Money is wrong.
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The only thing Micabwer has is a Ph.D. is bullshitting. And collecting government benefits.
 
I've long thought a sliding scale should be implemented to make minimum wage based on what businesses can afford.

Wal-Mart can afford more.but, they don't.

Instead they pass the poverty issues to the Feds, and to yes therefore e the tax payers.
 
RomanDmowski said:
A sizable number of small business owners work for less than minimum wage to build up a business in the early years.
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A sizeable number of small businesses fail in their first 1-2 years (about 20%), not because of wages, but because of poor management.

A larger number of small businesses fail in their first 5 years (about 45%), not because of wages, but because of poor management.

An even LARGER number of small businesses fail in their first 10 years (about 65%), not because of wages, but because of poor management.

So...you sensing a theme????

Not everyone who starts a business is good at it. No one is entitled to start a business, either. All businesses are chartered by the state.


A sizeable number of small businesses won't make it.
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65% of small businesses fail by Year 10.



It's a lot worse with Covid 19 & it will be a lot worse with a 15 dollar minimum wage.
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A $15/hr MW will be a stimulus to most of those businesses because the people who patron them are typically on the lower end of the income spectrum and thus, are the most likely to spend money once it gets to their pocket.

Rich people don't spend tax cuts, but poor people do spend nearly 100% of their wages.
 
Sailor said:
The only thing Micabwer has is a Ph.D. is bullshitting. And collecting government benefits.
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Poopeye, you telling the forum that you're a sea captain with a fleet of ships; that seems to me makes you an even bigger bullshitter.
 
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