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Non-Tech : Kirk's Market Thoughts

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Blasher

To: Jerome who wrote (1311)	5/29/2014 10:03:15 AM
From: Kirk ©	1 Recommendation Read Replies (1) of 26602

I have mixed feelings on min wage. Unintended consequences are it will speed the move towards automation cause inflation in things the poor buy, especially fast-crap masquerading as food hurt the restaurant industry. Perhaps we could eliminate or change the culture of tipping, keep the min wage low at restaurants and instead have a mandatory 10% service charge (with a 5 to 10% tip that goes into the server) Divide the tip fund evenly between all hourly workers and if this doesn't get them above the new mandated min wage, then they get some sort of tax credit. Cause inflation in salaries at unions tied to the min wage. On the plus side, we've had tremendous inflation in CEO pay and the cost to buy food and rent places in the Bay Area so I don't really object to the huge increases in min wages here. Besides, it will speed the move to eliminate those jobs and replace them with technology so I'll make a bundle from that... I just wish there was a less cruel way to say you and I as tech investors will profit from the suffering of job losses.

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