UC Berkeley Touts $15 Minimum Wage Law, Then Fires Hundreds Of Workers After It Passes

[Stradling]

I know it isn't fair Nate, it's just what we do.

[Make Angels Great Again]

Again, this is not about hand outs. It's about maintaining the same standard as previous generations.

The value of a dollar changes, people these days are being paid less dollars as previous generations.

That's all.

[Tank]

People who go from $8 per hour to $15 per hour are going to spend the extra money they start making. That's not even a question. How is that not positive to the economy? I would be willing to bet those workers currently making 15-20 per hour would in fact see an increase.

You better believe they'll be spending that money because the prices of goods and services are going to up to compensate for the increased labor costs.

[AngelsLakersFan]

AFL, who do you think will pay for the increased wages?

 

They will be paid for by the lowest skilled workers in the form of higher unemployment, by the minimum wage earners in the form of higher output and less hours, and then most significantly by the consumer in the form of higher prices for basic goods and services. 

[Make Angels Great Again]

Prices are constantly going up already, except little of it trickles down to the regular working employees.

[Make Angels Great Again]

A big mac would need to go up .17 cents to cover $15 an hour.

[AngelsLakersFan]

A big mac would need to go up .17 cents to cover $15 an hour.

 

 

Honestly, price inflation from minimum wage increases is generally not a big deal in the long run because the market finds a new equilibrium. The issue is with the size and the speed of the increase. The negative effects come up front from the disruption in the market place, but the losses are real and they are felt by the middle class and the weakest members of the economy - the disabled, the mentally handicapped, the lazy, those with criminal records, etc. When the dust settles things generally go back to the way they were with the exception of the long term economic loss from price fixing.

 

Businesses will find ways to remain competitive, either through increases in under the table work, opting for sub contractors over full time employees, decreased benefits, offshoring jobs, or in some cases cutting back on services or potentially going out of business altogether. 

[Amazing Larry]

Prices are constantly going up already, except little of it trickles down to the regular working employees.

Why do you think that is?

[arch stanton]

Just out of curiosity, how many minimum wage earners do you guys come in contact with on a daily basis and how lazy and unmotivated are they?

[gotbeer]

A big mac would need to go up .17 cents to cover $15 an hour.

 

I don't know about that.  While the labor cost of a single person is an increase of about $7 from $8 to $15.  But the actual cost to the company is probably 3x what is paid out or $21 when you factor in benefits, insurance, taxes, and other crap you have to pay in CA. 

 

So for a minimum 3 man crew, at an increase of $63, you would 371 big macs an hour to break even at $0.17. 

 

But this is McDonalds we are talking about.  37 Big Macs might be a great lunch hour/dinner hour rush.  So to cover, $1.70 in just Big Mac increase.

[ABC]

If you're making minimum wage in california the only thing you can rent is a park bench.

 

So they're homeless?

[ABC]

I would think 99% of people renting are making above minimum wage already.

 

I don't get your point.

[Tank]

A big mac would need to go up .17 cents to cover $15 an hour.

And this magical number is based on what?

[Adam]

I don't know about that. While the labor cost of a single person is an increase of about $7 from $8 to $15. But the actual cost to the company is probably 3x what is paid out or $21 when you factor in benefits, insurance, taxes, and other crap you have to pay in CA.

So for a minimum 3 man crew, at an increase of $63, you would 371 big macs an hour to break even at $0.17.

But this is McDonalds we are talking about. 37 Big Macs might be a great lunch hour/dinner hour rush. So to cover, $1.70 in just Big Mac increase.

AFL believes the numbers of democratic socialist Econ professors from SJW havens

[wopphil]

And this magical number is based on what?

Bernie Sanders' magic calculator. The same one that gives us health care at $8 per week, college for only a 0.15% tax increase, free BMW's, and horny supermodel looking wives for every hardworking American man.

[Taylor]

Stay in school. Stay away from drugs. Don't buy a $30k car with no money to pay for it. Use birth control. Work your ass off, and do it with a smile on your face. Shave. Take the jewelry and junk out of your nose and ears. Say "yes sir." Do all that and you won't be working minimum wage for very long.

 

[Jay]

Stay in school. Stay away from drugs. Don't buy a $30k car with no money to pay for it. Use birth control. Work your ass off, and do it with a smile on your face. Shave. Take the jewelry and junk out of your nose and ears. Say "yes sir." Do all that and you won't be working minimum wage for very long.

 

You mean employers aren't looking for employees with flair ?

[Spirit]

[Jason]

A big mac would need to go up .17 cents to cover $15 an hour.

and guess what consumers will not want to pay? However I think fast food is bad for us so less of that means better health for Americans. 

Edited April 27, 2016 by Angels N Skins

[Jason]

Just out of curiosity, how many minimum wage earners do you guys come in contact with on a daily basis and how lazy and unmotivated are they?

When my daughter is old enough to get a job I will let you know. As a 10 year old she's already unmotivated.

[Make Angels Great Again]

Actually they aren't numbers pulled out of my ass.

http://thinkprogress.org/economy/2015/08/03/3687171/15-minimum-wage-big-mac/

In before "Think progress!!"

And yeah Angels n skins I'm sure the 17 cents will completely deter people from paying. You must be joking.

[Jay]

Been there, done that

 

http://www.nationalreview.com/15-dollar-an-hour-fast-food-wages-will-raise-prices

 

Study Showing 15-Dollar-an-Hour Fast-Food Wages Would Raise Prices by Only 4 Percent Is Very Wrong

[Tank]

Prices are constantly going up already, except little of it trickles down to the regular working employees.

 

and they'll go up even more when the cost of labor increases. 

 

you don't seem to be getting this.

[Make Angels Great Again]

And yet you guys seem completely closed to the slightest possibility that businesses continue to increase prices to pay for everything except their employees.

[mtangelsfan]

Actually they aren't numbers pulled out of my ass.

http://thinkprogress.org/economy/2015/08/03/3687171/15-minimum-wage-big-mac/

In before "Think progress!!"

And yeah Angels n skins I'm sure the 17 cents will completely deter people from paying. You must be joking.

 

You don't need to torture numbers on either side to use common sense.  If you increase the cost to make a product, the cost to sell the product will rise.  Gas will rise, food will rise, groceries will rise.  Who do you think this will effect the most? 

 

Also, an increase in the bottom will most likely mean an increase at every other level as well.  All those costs will be passed on.