Current Events > "If they raise the minimum wage, things will cost more"

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MachineJaipur
05/12/21 9:20:25 PM
#1:


Will things cost more?


https://twitter.com/faartheram/status/1391741728571461632?s=21



Hmmmm
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#2
Post #2 was unavailable or deleted.
uwnim
05/12/21 9:21:29 PM
#3:


Slightly more, with how everything increases in price anyways, you probably wouldn't really even notice.

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Slayer_22
05/12/21 9:21:55 PM
#4:


The moment they raise minimum wage, video games go up to 80 dollars.
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SevenTenths
05/12/21 9:24:02 PM
#5:


Yes business will raise cost to cover increased expenses. No that isn't the only source of inflation. Yes minimum wage is overdue for an increase. Yes this topic is absurdly dumb.

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DDirtyDastard
05/12/21 9:27:06 PM
#6:


Things will cost more because the cost of operating the business needs to be made up somewhere. Especially now with the inflation (printing trillions out of thin air) and rise in fuel prices due to pipeline shutdowns and disruption.
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lightwarrior78
05/12/21 9:29:20 PM
#7:


Have other costs not been going up over the last decade? It's like saying that if the roof's already leaking let's punch a hole in it like it won't make it worse.

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Robot2600
05/12/21 9:29:37 PM
#8:


Things would not cost more it's just a myth. Billionaires have less money is all that happens. And you guys believe it.

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ShyOx
05/12/21 9:30:42 PM
#9:


Its already costing more

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VTBM
05/12/21 9:30:47 PM
#10:


Robot2600 posted...
Things would not cost more it's just a myth. Billionaires have less money is all that happens. And you guys believe it.

You assume every business is owned by a billionaire.

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Broseph_Stalin
05/12/21 9:57:20 PM
#11:


MachineJaipur posted...
https://twitter.com/faartheram/status/1391741728571461632?s=21

Like most things that get tons of likes on twitter, this is really stupid.

Just because the federal minimum wage is still $7.25/hr does not mean that's what people are actually making. We don't live in some communist shithole like Cuba where you're forced to take a government-mandated wage. Workers in free market systems have bargaining power which means no employer can get away with only offering the federal minimum. The effective minimum wage is higher than it's ever been.

Second it's really stupid to bring up housing cost to try and make wages appear stagnant. If you showed up to a gas station tomorrow and gas was $10 a gallon your first thought wouldn't be "I don't make enough money", it would be "why are gas prices so high?". Wage growth isn't the issue (the 2010s saw the largest gains in income in modern history), there's just a massive housing shortage in the US brought on by local governments preventing new housing from being built.

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KStateKing17
05/12/21 10:00:37 PM
#12:


There's a housing shortage? Where are the hot spots?

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Broseph_Stalin
05/12/21 10:05:01 PM
#13:


KStateKing17 posted...
There's a housing shortage?

There's a massive housing shortage.

KStateKing17 posted...
Where are the hot spots?

The places with the most demand for housing, unfortunately.
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MachineJaipur
05/12/21 10:05:38 PM
#14:


Broseph_Stalin posted...
there's just a massive housing shortage in the US brought on by local governments preventing new housing from being built.
I've seen, multiple times, on CE that there's actually a lot of empty housing in America but no buyers so
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Fam_Fam
05/12/21 10:09:00 PM
#15:


does the picture provided do anything to disprove the statement provided in the topic title?
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Broseph_Stalin
05/12/21 10:09:30 PM
#16:


MachineJaipur posted...
I've seen, multiple times, on CE that there's actually a lot of empty housing in America but no buyers so

CE is not really any better than twitter lol

https://www.businessinsider.com/us-housing-shortage-nearly-4-million-homes-fannie-mac-data-2021-4


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3PiesAndAFork
05/12/21 10:12:46 PM
#17:


The price of a big mac will go up 5 cents to cover the increased wages. Most things that cost a little bit per unit make money from volume, and those things that don't sell a large amount have high prices anyways so a small increase won't be noticeable (like a $10 increase on a $500 item).

The republicans have you by the balls, and the only way out is education.

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MutantJohn
05/12/21 10:13:28 PM
#18:


If the effective min wage is higher than the official mon wage, raising it has no consequence. gg wp, Broseph btfo'd

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Squall28
05/12/21 10:14:14 PM
#19:


Just because other things make it cost more, doesn't mean it can't make stuff cost more either.

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Kingbuffet
05/12/21 10:16:49 PM
#20:


That's why Conservatives can't think logically, they hate welfare but the corporations they defend end up being the biggest welfare beneficiary. Why? All of their workers are so underpaid they rely on government aid.
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Broseph_Stalin
05/12/21 10:26:02 PM
#21:


MutantJohn posted...
If the effective min wage is higher than the official mon wage, raising it has no consequence. gg wp, Broseph btfo'd

The effective min wage is higher because certain areas in the country can offer higher wages. "San Francisco and Arkansas should have the same minimum wage" is a bad take for obvious reasons.

Kingbuffet posted...
Why? All of their workers are so underpaid they rely on government aid.

Social safety nets aren't corporate subsidies lol
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legendary_zell
05/12/21 10:47:53 PM
#22:


According to Broseph, workers should rejoice at the prospect of making 7.85 rather than 7.25 because that's technically higher than the minimum wage. That's what I was paid when I worked at Wal-Mart. I've also been paid 11, 12, and 15 an hour in the not too distant past with no regard for whether I could actually live on that.


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Broseph_Stalin
05/12/21 10:50:43 PM
#24:


legendary_zell posted...
According to Broseph, workers should rejoice at the prospect of making 7.85 rather than 7.25 because that's technically higher than the minimum wage.

The effective minimum wage in the US is around $12.

Median incomes in the US are among the highest in the world and had historic gains in the last decade.
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legendary_zell
05/12/21 10:55:09 PM
#25:


Broseph_Stalin posted...
The effective minimum wage in the US is around $12.

Median incomes in the US are among the highest in the world and had historic gains in the last decade.

Could you live on that? Should people who work 40 hours a week receive a living wage?

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Broseph_Stalin
05/12/21 11:02:03 PM
#26:


legendary_zell posted...
Could you live on that?

Yes?
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ElatedVenusaur
05/12/21 11:05:54 PM
#27:


Things will cost more because inflation is a natural consequence of a growing economy.
People should be able to live on the minimum wage.
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ryudo500
05/12/21 11:07:21 PM
#28:


Slayer_22 posted...
The moment they raise minimum wage, video games go up to 80 dollars.


sadly I dont doubt this at all withn 12 months

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NoxObscuras
05/12/21 11:31:29 PM
#29:


The initial argument aside, that Twitter post still highlights a very real problem. The minimum wage has not kept up with the inflated cost of living in the last few decades.

Broseph_Stalin posted...
Like most things that get tons of likes on twitter, this is really stupid.

Just because the federal minimum wage is still $7.25/hr does not mean that's what people are actually making. We don't live in some communist shithole like Cuba where you're forced to take a government-mandated wage. Workers in free market systems have bargaining power which means no employer can get away with only offering the federal minimum. The effective minimum wage is higher than it's ever been.
This only applies if you're looking at mid level jobs. Many entry level jobs, especially in retail, will pay workers the absolute lowest they can get away with. I live in California and places like Mcdonalds have paid their employees minimum wage only.

"The Median incomes in the US are among the highest in the world" Medians can be skewed by high numbers.

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Broseph_Stalin
05/13/21 4:35:42 PM
#30:


NoxObscuras posted...
The minimum wage has not kept up with the inflated cost of living in the last few decades.

See:

Broseph_Stalin posted...
Second it's really stupid to bring up housing cost to try and make wages appear stagnant. If you showed up to a gas station tomorrow and gas was $10 a gallon your first thought wouldn't be "I don't make enough money", it would be "why are gas prices so high?". Wage growth isn't the issue (the 2010s saw the largest gains in income in modern history), there's just a massive housing shortage in the US brought on by local governments preventing new housing from being built.

Wages aren't to blame for US zoning policy.

NoxObscuras posted...
This only applies if you're looking at mid level jobs. Many entry level jobs, especially in retail, will pay workers the absolute lowest they can get away with.

Again if this were true you'd see a lot more people actually making the minimum wage. In reality even entry level service jobs are raising pay well beyond that to attract workers. Also worth noting that the minimum wage in CA is almost double the federal minimum btw.

NoxObscuras posted...
"The Median incomes in the US are among the highest in the world" Medians can be skewed by high numbers.

That's not how median works, you're thinking of averages.
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CADE FOSTER
05/13/21 4:52:26 PM
#31:


telling you tie min wage to inflation and we never have inflation again bunch of scum fuck gov tbh
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MachineJaipur
05/13/21 5:12:16 PM
#32:


CADE FOSTER posted...
telling you tie min wage to inflation and we never have inflation again bunch of scum fuck gov tbh
That might be crazy enough to just work
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Naysaspace
05/13/21 5:16:10 PM
#33:


yes but the reason is the private industry passing the cost onto the customer instead of absorbing the expense, like minimum wage raises are intended to do.

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loafy013
05/14/21 6:37:00 AM
#34:


Broseph_Stalin posted...
Workers in free market systems have bargaining power which means no employer can get away with only offering the federal minimum. The effective minimum wage is higher than it's ever been.
Bargaining power so great that republican governors are stepping in to hurt unemployment so businesses don't have to pay more than the minimum.

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Shablagoo
05/14/21 8:08:24 AM
#35:


Broseph_Stalin posted...
CE is not really any better than twitter lol

https://www.businessinsider.com/us-housing-shortage-nearly-4-million-homes-fannie-mac-data-2021-4


There is a lot of empty housing in America. That there are not as many new houses being built as in the past does not change that fact. What a silly post.

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WrkHrdPlayHrdr
05/14/21 8:59:53 AM
#36:


Well let's look at countries, or even US states that have a higher minimum wage and see what it does to prices.

Answer: It's like a dime on a Big Mac. We will be okay.

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MutantJohn
05/14/21 11:19:45 AM
#37:


You know what's weird though, this Brosphe_Stalin guy makes sure he posts the same thing in every topic and in every topic it always gets destroyed too.

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Will_VIIII
05/14/21 11:23:15 AM
#38:


They don't need to, but companies will use it as an excuse.

Couple examples, though they're a few years old.

Papa John's raised the price on a lot of items by $2 or so and said that Obamacare was the reason why. If they were to raise the prices to offset healthcare requirements, they would have only needed to do so by about 15 cents.

17% of what McDonald's takes in goes towards employee wages. They continued simply raise each item by 17 cents to maintain their profit margin and double the wages of employees. I wouldn't notice a 60-80 cent increase in a fast food meal.

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UnfairRepresent
05/14/21 11:23:59 AM
#39:


uwnim posted...
Slightly more, with how everything increases in price anyways, you probably wouldn't really even notice.


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RchHomieQuanChi
05/14/21 11:39:19 AM
#40:


Imagine corporations telling you they'd have to significantly raise prices to pay their workers a livable wage....and actually believing it lmao

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opopopza
05/14/21 11:39:38 AM
#41:


VTBM posted...
You assume every business is owned by a billionaire.
This is the real truth. A lot of people misunderstand the issue of raising the minimum wage and think it's just a conspiracy by Republicans that hate poor people.

A company like McDonald's or Amazon can absolutely cover an increase in wages. A small local business may not as lucky. Minimum wage also affects businesses that rely on unskilled labor to a much higher degree. Restaurants will feel the impact, an accounting firm or software company won't even notice the increase. The conversation should be around if local companies deserve to be in business if they can't support higher living wages. But we also don't want to live in a world where your choices are chain restaurants or high end dining.

Like everything in life, there are tradeoffs
And we need to weigh them and decided if minimum wage increases will provide the most benefit. I would argue universal free health care would do a much greater good for the poor and working class people than an increase in minimum wage. Not to say we couldn't do both, but it just bothers me when people act like this isn't a difficult problem.

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RchHomieQuanChi
05/14/21 11:40:24 AM
#42:


opopopza posted...
Minimum wage also affects businesses that rely on unskilled labor to a much higher degree.


What you mean to say is they rely on borderline slave wages.

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