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> in the sense that nobody is going to lose money in order to get them to you And yet all of your rhetoric doesn't attempt to show how they would suddenly be l
by Guvante 7y ago
> in the sense that nobody is going to lose money in order to get them to you
And yet all of your rhetoric doesn't attempt to show how they would suddenly be losing money if minimum wage went up. You need to at least talk about profit margins, portions of costs that are wages as well as the relative impact of that wage cost based on how expensive they were before the minimum wage hike.
For instance if someone is making $45/hour they aren't going to suddenly go to $90/hour because minimum wage doubled. Obviously everyone above gets bumped and anyone near it is going to go up as well but the overall amount doesn't double so your wage adjustment should include that.
> It's the group of people right above minimum wage who are harmed the most, because they won't see any proportional raise.
Only if you believe the cost of everything is based exclusively on the minimum wage.
> The continual raising of the minimum wage (among other factors, of course) contributes to distortions in pricing
Feel free to point to anything that shows this is true
> but once they do, advocates will get right back out there and ask for $20, $25...
Please stop presupposing your argument and going off on tangents. My point of contention is that you cannot say that prices will linearly go up with minimum wage.
> Obviously not, it's a nonlinear relationship
But yet everything you say very explicitly says it isn't just a non-linear relationship but a 1:1 relationship.
> It's the group of people right above minimum wage who are harmed the most, because they won't see any proportional raise
To reiterate your previous point which again says "all prices are a multiple of minimum wage"
> If you don't understand price discovery
I do understand macro economic effects including price discovery but you haven't brought up any actual macro economic effects beyond the cost of things.
> No need to result to this kind of rhetoric.
I will keep using it as long as you keep failing to support your central point. Heck the only time you even acknowledge you then contradict yourself on it.
No one who is fighting for a minimum wage of $15 is saying that everyone who is making minimum wage is going to be twice as rich if we make the change. Obviously it will result in increased costs in certain areas. For instance anywhere that relies on 80% minimum wage labor and a 30% labor cost will see a price increase of approximately 24%. However that is no where near the effect you are claiming.