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

[BattleofHodow]

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.

Ma & Pa stores shouldn't be in existence?
Oh yeah,?

[Concart]

I do have an idea. You're angry and you blame me. I wish I could help you but I can't other than to expect you to support the claims that you make.

Projection. Carry on, Red.

[LV426]

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.

[Concart]

Doubling minimum wage is insane, increasing here & there is not

Raising the minimum wage to 15/hour does not double the minimum wage, since it is at or near that in many states already.

[Red Jenkins]

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.

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?

[LV426]

Ma & Pa stores shouldn't be in existence?

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?

[Red Jenkins]

Projection. Carry on, Red.

Sorry I did things that you got angry about but it may keep happening if you keep making claims without proof. Sorry.

[anonymoose]

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.

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.

[LV426]

Then just tell us one.

Nah...I'd rather you tell us why you felt compelled to create this ID when you did.

What increased demand?

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?

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.

[BattleofHodow]

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?

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.

[BattleofHodow]

Raising the minimum wage to 15/hour does not double the minimum wage, since it is at or near that in many states already.

Federally speaking it would & would in some states.

Notice Texas has low wages, no wonder why Musk is moving there.

[Sailor]

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.

The only thing Micabwer has is a Ph.D. is bullshitting. And collecting government benefits.

[BattleofHodow]

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.

[LV426]

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 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.

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.

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.

[Trumpet]

The only thing Micabwer has is a Ph.D. is bullshitting. And collecting government benefits.

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.