SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Kirk's Market Thoughts
COHR 178.34-10.2%Dec 12 9:30 AM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Hawkmoon who wrote (1200)5/7/2014 9:23:45 AM
From: Jerome   of 26768
 
Hi Hawk......raising the minimum wage is not a panacea for everything. But it does take millions of people off of public assistance. With a higher minimum wage they would not qualify for assistance.

So the question might be ...do we want McDonald's and Walmart's low wages subsidized by public assistance programs? Its not that Walmart and Mcdonald's are short on cash and can't afford it.

You may have seen the ads about how much Walmart would have to raise the price of a box of Mac &Cheese to accomodate a $10.10 starting wage. It turns out that the increased price of a box of Mac & Cheese would be $.01.......

Now if Walmart raised their starting pay to $10.10 an hour it would hurt their competitors, that would have to match the starting pay. (Target, Walgreen, Dollar Tree, Kroger, Safeway and others.

But the economy would benefit in the end.
Skilled people seldom is paid a mere minimum wage
You are correct on that one.....but a low minimum wage means that the starting pay for skilled trades is also lower.

In my geographic region of the midwest the starting pay for brick layers and finish carpenters is about twice the minimum wage....$7.25 an hour for minimum wage translates into $15.00 an hour for the starting pay of a trades person. Keep in mind that you can get a higher starting pay in a bigger city like Grand Rapids but then you cost of living also goes up accordingly.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News