15$ minimum wage

what are the ramifications of this bizfags

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15 is fucking trash anyway. I'd rather get paid minimum wage and have my company take care of the rest of my shit.

Automation

Fuck that I'm 22 and these fucking kids don't know how hard I had to slave for minimum wage in hs and college

rent prices as well no?

>Fuck that I'm 22 and these fucking kids don't know how hard I had to slave for minimum wage in hs and college

> 22
You're still a kid, kid.

> minimum wage in hs and college
Boohoooo....

> fucking kids
Most of them are older than you and just shit at life.

Price of everything goes up. Liberals know this but they still push for $15 And then they can turn around and blame the evil corporations for raising prices on everything.

pretty much this.

it will fick with the market and end up making some people go broke, actually.

but they keep pushing it because things like cable are now basic rights for some reason.

That basically says: "If you can't produce more than 15$/HR, it's both Illegal and not viable to hire you"
The Marxist theory of "surplus value" is bullshit (read the work of Böhm-Bawerk about time preference), artificially raising a salary by decree won't magically raise the input of that worker (how much value his work injects in the market) to make hiring him viable, nor it will magically lower the costs of production of said product, and the money to pay him has to come from somewhere.

Then you will see organizations either lowering # of the workforce to a hit point of equilibrium (but making them less profitable), trying automation or just closing doors. and as a sum of it all, it raises unemployment and the price of products.

Most of those wymin on this image would probably be unemployable.

A few things. First off; lay offs, automation, and price hikes. Labor costs are a huge chunk of operational costs for alot of places and putting the minimum wage up to $15/hr would wipe out profit margins on some enterprises entirely. The only way to stay in business would be lay offs or reducing hours. Remember, the workers aren't producing more per hour so it's a net loss to everyone else.

Then, outside of minimum wage jobs, you have everyone else dragged a bit closer to effective poverty because of the aforementioned price hikes. Everyone else can afford less. This will even itself out however, given enough time because of the last factor.

In the end, if left untreated, this type of legislation would lead to a recession or a depression because it puts strains on the costs of doing business in a world where businesses are already thinking of cutting and running due to the last economic crisis. But the government would probably just print more money and adjust credit policy and tax laws in order to keep the economy running, which would lead to inflation. Eventually when it became harder to hire for more in demand wages at what is as of now the going rate for such jobs, the wages for them will rise apropriately due to the actual need for these workers. This essentially puts everyone in more or less the same place that they started in with the exception that many of the low wage workers who campaigned for 15/hr have now been laid off or replaced by machines.

If you want more money, then make yourself more useful.

Winner!

>More jobs lost to robots and AI,
>more politicians promising to do something about it
>More nigger crime and SJWs blaming it on racism

No. Robots make everything anyways. They aren't giving robots a raise. McDonald's cancer food will cost more though.

A $15 min wage would mean business owners have to make up lost revenue by increasing prices. Or making their workers do more work, which means less jobs. I don't give a fuck. I'm cozy as shit. I only care about myself, not poorfags

Unemployment will rise.
But if you like higher prices, who cares!

Just get rid of all the NIMBY laws and building codes and zoning laws and blah blah blah. New buildings everywhere and cheap rents for everyone. The boomers will be all like "BUT MUH PROPERTY VALUE!!!!" and then we tell them to get fucked in the ass.

Unironically this. Zoning laws and planning boards are fucking terminal cancer for cities.

prices of things will go up slightly

Most McDonald's have replaced cashier's with robots already.

>tfw uneducated 24 year-old making like 30$ an hour

Sometimes I enjoy living in Norway, then I go out and see the prices on stuff and get depressed.

Good thing I save and invest most of my money.

Marx never heard about stocks.

>"There's not enough good jobs!"
>"Give me a higher wage"
These 15ers are fighting to put themselves out of work. It's fairly simple - when businesses pay more for labor, they have a set of options:
>raise prices
>fire workers
>go out of business
The first one they'll try is to fire workers.
A lot of 15ers seem to think that businesses can afford to pay them 50% more. They envision some rich CEO and get envious.
Because we should all be equally rich, with inequal responsibilities.

I make $16.04 in Florida. Minimum wage is $8.05 I think. I still can't live without a roommate.

$15 ain't shit

Absolutely nothing, $15 would just become the new $30 and so on and so forth till a Hershey's in the checkout line is $4.99.

>Mcdonalds gets staffed by hipsters.
>Minorities become unemployed

good buy.

>because I suffered everyone else has to
You're right, let's just take away every amenity in the modern world.

Smartest posts in the thread

Time to adjust your lifestyle

Hyperinflation, and unemployment worse than it is now (if that's possible).

But by the time Trump's people get done wrecking everything, no one will have a job anyway.

>best nature, awesome cities, cleanest environment, friendliest people
>socialist gov stealing from you to pay for jihadi john's rent
So close to perfect.

Depends on the area. It'll be fine, even great in cities because minimum wage increases ultimately just come at the expense of the more well paid after everything is factored. In more rural areas it's harder to pass along that expense onto the inherently smaller populace so a $15 minimum wage could turn out badly if the area isn't goods production oriented.

minimum wage wouldnt have to keep on increasing if the value of the dollar didn't keep on decreasing

Libshits

>There aren't enough jobs!
>We need a $15 minimum wage!
>We need more taxes on the rich!
>No human being is illegal!
>We need open borders!
>Free healthcare for everyone!
>Free college for everyone!

I don't understand how such a large segment of the population can hold such contradictory beliefs

Based on what data? All indicators say this is a bull market. No mind prisoners thnx.
Cash me next time the dow dips to 20k.
Im gonna ride this Trump-wave until at least 25k.

No. With making more money people tend to spend more money. So it would be stupid for companies to increase the price of something when the general population will buy more of it anyway.

you do know that supply is limited, right?

and people buying more = more demand, right?

This exactly.

Philadelphia adds "soda tax" effectively doubling the price of soda in the city. This hurts those involved in selling soda on the distribution side and the stores and restaurants that sell it. Its basic math. Go outside the city limits and buy things half price.... People losing jobs, business closing - but not because of the tax hike. Its because of greedy business owners.

Who knew going into the food industry was so lucrative that they decide to shut down and lay people off because of pure greed.

Meanwhile, new tax revenue is under, already wasted instead of "for the kids" and they have hired "soda police" to ensure what businesses remain aren't trying to skirt this ridiculous measure.

Liberals are only as bad as the morons who support them, which it turns out are generally white college graduates from the Obama era.

Supply is irrelevant and many companies regularly exchange margins for volume to make more money (like walmart and Costco).

Facts and reality have no basis for their feelings. They have the news, comedians, media and liberal politicians to assure them of this idiocy. BTW, there are 68 genders.

Man you guys all seem like bitter butt boys. Rising wages haven't kept up with inflation. Why are you all focusing on such pedantic issues? Should we have kept the minimum wage at 50 cents or whatever it was a century ago?

Raising it is one part of the big solution of telling the richest of the rich to stop being suck fucking cocksuckers. But I bet you guys are all bootstrappers making 200k a month off of nothing but your gusto, right

This is a meme lie like the wage gap. The equivalent in todays dollars of what the min wage was when it was first ebstated is just $4. It's doubled against inflation. It just stopped growing at such high rates in the 80's to plateau off.

I make 200k/month on crypto, yes.

This. Top post m8. Also, if we could eliminate rent control that would be fantastic.

The fact that your parents and gparents fought for better wages just like these people are now is the only reason you live in a first world country

Many businesses are already set to get rid of people through automation. RIP transport industry

everything goes up in price. it brings the middle class closer to the lower class. im sure it helps minimum wage workers but fuck those retards.

>Oh my g*d guys why are you trying to increase minimum wage when it's been shown that raising min wage even a single penny will cause a global economic meltdown
>*doesn't post any studies that link min wage increase to unemployment*
>*minimum wage gets increased anyway*
>unemployment and the economy stay the same or improve slightly

And that's when I realized people who complain about minimum wage are:

1. company stooges
2. failure adults who earn slightly more than minimum wage and are upset that they won't have someone to look down on
3. juvenile kids who are just repeating things they heard from their parents (who are usually apart of group #2)

>tfw head chef at 5 guys making 15/hr with overtime

>Supply is irrelevant

Costco and walmart still abide by the same basic economic principles as everyone else. If the demand for bulk orders increases then so does the price.

oh rly

Fast food prices and a few other prices go up.

Poor people have enough money to get dentistry done.

Unemployment goes up temporarily as certain jobs go to computers and robots, but the job market adjusts itself over the years as it always does.

>Costco and walmart still abide by the same basic economic principles as everyone else
Yes, but equilibrium theory isn't reality in any way, shape, or form.

>If the demand for bulk orders increases then so does the price
There is no necessity in this whatsoever. They can, and do, keep prices the same and push volume. They can entice disproportionately more buyers by keeping prices lower instead of arbitrarily raising them and losing buyers in the process.

Rental prices are insane dude. To find a place not in the ghetto an average 1 bedroom is 8-900 minimum. I take home $1590, which leaves a max of $800 for car insurance (200 cause under 25), utilities (170), food (100), health insurance (job won't let me be full time so 150 or pay Obama tax come refund time), gas (80). That barely leaves anything for saving or emergencies, let alone leisure.

I was thinking earlier today that in aggregate, automation is good for the economy - the dishwasher effect. Mom gets a dishwasher and spends less time washing dishes. Now she can more productive by eliminating a lengthy task.
Similarly, industries could apply their workforce to more advanced tasks rather than basic tasks that would be automated.

The fact is McDonald's, Walmart etc are all too big. They've ridden on the back of overly cheap labor. The government has to help Walmart pay its employees because they don't cough it up. Meanwhile the Waltons are the richest family in America.

This isn't China. People need to be paid.
The fact that companies got away with not paying their employees so long is the reason why our culture has turned to fucking shit, subsisted on cheap shit.

Automation is a reality yeah. A lot of jobs should already be automated, and it's more than min wage jobs.
A big part of the legal and medical fields can be automated. And they will be.

Basic income

I dont think wages are the problem we should be chasing. Lowering the overall living expense is what we should be doing, even if it does seem farfetched. Not by subsidizing, because that'll just make things worse.

Unlikely to happen, but ironically the better choice.

problem is, anyone can wash dishes; very few can work difficult abstract problems.

hence the hangup

Fuck a huge hike in min wage. I'm self employed..What I make won't increase but cost of things will...

businesses accelerate r&d into automation

no one will hire a teens to flip burgers at $15/hr. for that price burger king will only hire someone with a wealth of experience to justify the wage.

small businesses who can't afford $15/hr will die out left and right bc all govt regulation hurts them more than big corporations.

companies will downsize, ship jobs overseas, hire illegals, only hire part-timers, or as a last resort, pass on the cost to the consumer

$1590 / 4 weeks per month is $397.50 a week
$397.50 / 5 days per workweek is $79.50 a day
$79.50 / 8 hours per regular shift is ~$9.94 an hour
You sir most certainly do not either make $16.04 or do not work enough (like a regular person)
If you did, your beforetax income monthly would be $2556.4, aka an extra thousand or so every month

Hell, even if you only worked 4 days a week you'd have around $2,000

tl;dr
>wurk moar

Frog here, our min wage is equivalent to $15/hour and social contributions raise it to an effective $30/hour for the employer. Everything in this country is ugly, undermaintained and stinks because you can't pay people that much to push a mop. Unless your country is exceptionally wealthy (Switzerland), high minimum wage makes everyone live in garbage.

There's other ramifications such as less jobs available, as employers can't afford to take a risk on you. Getting a start working as a waiter while you're in highschool... Fat chance. Shitty low end jobs are for adult non-whites, as employers can get up to 90% state funding of their salary if they employ those people. "Classier" low-end jobs are for adult whites who took an obligatory state-certified training course, 6 months, 1 year, 2 years...

As a middle-class teenager, you get to go to an overcrowded state-funded public college for 5 years and be dependent on state gibs. Once you're 23 and every scrap of competitiveness and efficiency has been culled out of you, then we can throw you out in the wild where you will be in competition with every other fucker like you for an office job. What's that? 2/3 of all jobs in France are given to a friend? Consider the proportion of the remaining third that is set aside for our brand of affirmative action, and you're in for a good time.

High minimum wage crushes the poor and makes everything worse. There's nothing wrong with paying people more in general, but things have to stay proportional. You cannot reward people at the absolute bottom rung of usefulness as much as firefighters, cops, EMTs and so on, unless what you want is morosity and stagnation.

>Basic income
See, this is highly preferable to high minimum wage.

Give a monthly $500 to every adult, no questions asked. Then you can pay the McDonalds guy $8 an hour and the waiter at a fancier restaurant $16 an hour. The employer can afford it, and the employee has financial incentive to move up.

This, with slatestarcodex.com/2016/05/30/ascended-economy/ as the endgame.

Workers getting back more of their surplus value. Too bad classcucks will never learn

>all value is created though labour
how can you be so wrong so fast?

Rent will go up.

Every one who gets payed less than 15 an hour will have to start over at minimum wage while the economy inflates to adjust for less people making more money in the work force. Lazy wellfare cleetus and nigger jamal will stay lazy and poor and all the hardworking wage slaves will be fucked and most likely lose their homes due to increased cost of living

Nice dubs.
Five guys is God-tier, so I'll excuse you calling yourself a "chef"

Automation is going to make most of these jobs irrelevant anyway. If $15 becomes a reality in going to need a raise because everything is going to go up in price.

Universal basic income needs to comes sooner than later. People gotta eat when there are literally no more unskilled jobs due to robots wiping them out. Although it's going to get worse before it gets better since the USA has its head up its ass.

Acquire skills that can't be automated

the terminals at mcdonalds are so much better than trying to explain what you want to a sheboon

You can go the third world its already like this.

Miami?

Democracy does not work because instead of these people improving their skills they just coerce the government into making it a gib. Chavez got elected twice just on the promise of gibs.

...

>tfw freelance worker
>tfw I get to steal more money away from naive millennials who are going to feel like spending kings with their povery line wage

Yes
YES

Business lobbies the government into giving them gibs even worse

hey Veeky Forums I have two questions...
1) Why do people at McDees not realize that their job can (and will be) accomplished more efficiantly and cheaper by a machine?
2) Would it be +EV to just do the 15 dollar min wage thing for a publicuty stunt, getting normies to respect you and grow loyalty?

Yeah, only two things I have to complain about this country is its socialism/it being a low-consumption country (things are fucking expensive, stores close on sundays, people in general buy less stuff etc) and the immigration problem.

Well, it's in a better state than Sweden atleast.