Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: SilentZ who wrote (736209)	8/31/2013 11:38:09 PM
From: Tenchusatsu	1 Recommendation Recommended By TideGlider Read Replies (3) \| Respond to of 1577026

Z, Do you have any historical evidence that raising minimum wage will lead to an increase in unemployment? Studies differ on the effects of raising the minimum wage. Sometimes the effects are to cut back hours or even cut wages for the higher-ups, the latter obviously being the ideal outcome for liberals. But there is no denying that the impact of higher labor costs is real and significant. And for many small businesses that survive on razor-thin margins, that impact can be the straw that breaks the camel's back. There are many other variables involved, but the whole point is that wages are ultimately set by the market. You're only paid as much as what someone else is willing to accept for the same work. The minimum wage is there to prevent overt exploitation and to set a floor on wages, but that's it. It's never meant to provide a "living wage" because that's a rather arbitrary standard that doesn't take into account free market economics. If McDonald's had to pay its employees $15/hour, the cost of a meal would go up 68 cents. Bullshit. Tenchusatsu

To: SilentZ who wrote (736209)	8/31/2013 11:53:14 PM
From: TopCat	1 Recommendation Recommended By TideGlider Read Replies (1) \| Respond to of 1577026

";If McDonald's had to pay its employees $15/hour, the cost of a meal would go up 68 cents. And that's assuming that there's no give in its profit margin." Not that simple. If I have to pay $15/hour, I'll only hire employees worth $15/hour and I will expect increased productivity. Net result is no more entry level jobs for kids to learn the ropes...ultimately that will have a very negative effect on the overall economy. And BTW, the price of the hamburger will not increase.