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Clearly the solution is just raise the minimum wage to $35/hr ala Elizabeth Warren

by mruts 8y ago

sovietmudkipz 8y ago
I know you say this statement in sarcasm but I'd like to explore this world. If minimum wage was $35/hr I bet quite a few things would happen. Entrenched, successful businesses would support the change. Their competition struggle to afford competing. Businesses will close down, further entrenching the competition. Jobs will disappear. Just like how the wage hike for New York car washers displaced workers though automation, many businesses will have an even higher economic incentive to replace workers with automation solutions. Some jobs just won't pull in enough to make it worth it. Why pay someone $74,000/yr to take orders at a restaurant when you can pay for a $50,000 and ~$20,000/yr in maintenance. Young workers will be out competed by older workers. If you're paying $35/hr, you want the best bang for your buck. Why take a risk on some 16 year old when you have retired 56 year olds who would be willing to pay for their medication working fast food. Or heck, why go into engineering when a basic job gets you above average pay? Where will the younger generation get a chance to develop the soft skillset that allows for future success in their careers? Naturally, I'm failing to consider the long term economic effects. For example; harder earned skillsets will be paid much more than low skillsets. If the supply chain is paying massively for a work force, then the price of goods & services will go up dramatically. It's harder to puzzle this sort of stuff out!
gruez 8y ago
>raise the minimum wage to $35/hr ala Elizabeth Warren https://www.google.com/search?q=Elizabeth+warren+35+minimum+wage https://www.google.com/search?q=Elizabeth+warren+35+minimum+... ???
JamesBarney 8y ago
Just in case anyone reads this and gets the wrong impression. Elizabeth Warren wasn't arguing for a $35/hr minimum wage, but just making a point that if the minimum wage had increased at the same rate as the earnings for the top 1% it would be at $33/hr. She was actually arguing for a $10/hr minimum wage.

Clearly the solution is just raise the minimum wage to $35/hr ala Elizabeth Warren

by mruts 8y ago

Clearly the solution is just raise the minimum wage to $35/hr ala Elizabeth Warren

I know you say this statement in sarcasm but I'd like to explore this world. If minimum wage was $35/hr I bet quite a few things would happen. Entrenched, successful businesses would support the change. Their competition struggle to afford competing. Businesses will close down, further entrenching the competition. Jobs will disappear. Just like how the wage hike for New York car washers displaced workers though automation, many businesses will have an even higher economic incentive to replace workers with automation solutions. Some jobs just won't pull in enough to make it worth it. Why pay someone $74,000/yr to take orders at a restaurant when you can pay for a $50,000 and ~$20,000/yr in maintenance. Young workers will be out competed by older workers. If you're paying $35/hr, you want the best bang for your buck. Why take a risk on some 16 year old when you have retired 56 year olds who would be willing to pay for their medication working fast food. Or heck, why go into engineering when a basic job gets you above average pay? Where will the younger generation get a chance to develop the soft skillset that allows for future success in their careers? Naturally, I'm failing to consider the long term economic effects. For example; harder earned skillsets will be paid much more than low skillsets. If the supply chain is paying massively for a work force, then the price of goods & services will go up dramatically. It's harder to puzzle this sort of stuff out!

gruez 8y ago

>raise the minimum wage to $35/hr ala Elizabeth Warren https://www.google.com/search?q=Elizabeth+warren+35+minimum+wage https://www.google.com/search?q=Elizabeth+warren+35+minimum+... ???

JamesBarney 8y ago

Just in case anyone reads this and gets the wrong impression. Elizabeth Warren wasn't arguing for a $35/hr minimum wage, but just making a point that if the minimum wage had increased at the same rate as the earnings for the top 1% it would be at $33/hr. She was actually arguing for a $10/hr minimum wage.