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 : Politics for Conservatives -- Ignore unavailable to you. Want to Upgrade?

To: Bill who wrote (30513)	5/22/2014 8:29:49 PM
From: sm1th	Read Replies (2) \| Respond to of 125115

For many businesses, raising it to $15 an hour is the same as raising it to $100 an hour. The Liberal response is "Great, lets raise it to $100/hr"

To: Bill who wrote (30513)	5/23/2014 3:01:07 AM
From: i-node	5 Recommendations Recommended By Geoff Altman goldworldnet KLP Neeka simplicity Read Replies (2) \| Respond to of 125115

>> For many businesses, raising it to $15 an hour is the same as raising it to $100 an hour. Either way, the job won't exist. Businesses will be hurt by a $15 minimum wage (which really amounts to somewhere between $17 and $20/hour, depending on whether there are benefits), but businesses will get over it, as they will raise prices. The people who are REALLY hurt by it are those whose labor isn't worth $15 or $20 an hour. Because those people will be out of work, permanently, unemployable. For those, it is the disaster of a lifetime. The argument from the left is that businesses will raise prices and keep on rolling. And the price increases will come -- but it is a result of the overall wage/price increase. As it now stands, those whose labor is less than $8.00 or whatever it is in a particular state, don't get jobs. When it goes to $15, many more people won't have jobs. The bottom line is labor expenditures have to add value to the product or those expenditure won't be made. They'll be replaced by machines, more productive workers, or not replaced at all (see: Gas station attendants). If you've been in a Chilis restaurant lately, there is a good chance you've noticed a new kiosk on your table from which you can order appetizers and drink refills, pay your check, and do other things. This is the initial rollout; a year from now you'll be able to do everything but deliver your own food to the table. The two I've been in since they started rolling these out looked to have half the waitstaff versus before. We are going to see somewhere in the area of 3 million jobs lost, permanently, to this is restaurants alone over the next few years. They could have done this some time ago. Why now? Because now you have to pay benefits for those waitstaff, and the threat of a minimum wage increase pushed them to do it now. Even though the federal increase is off the table for now, we're going to see this propagate throughout businesses. This is pretty serious and people just don't comprehend how it threatens the economic stability of the country for entry-level jobs to disappear overnight. We need to allow as much time as possible for retraining, and as everyone here knows, we're in the midst of the most anti-employment administration in the nation's history.