Walmart Rises Minimum wage to 15
- Thread starter Serious
- Start date
Is the free market a good lover to you, does it tell you you’re pretty and hold you tight at night
#themarketprovides
that free market has you sprung bruh. You probably let it drop you off to work in your car and bring it back on empty while eating your kids fruits snacks
And this harms low skilled workers how?@ people still thinking raising the min wage hurts the big guys.
An economist explains how Amazon could use its lobbying for a $15 minimum wage as a 'weapon' against other retailers
If they could they would raise the min wage to $50 and be done with competition outside of each other.
And this harms low skilled workers how?
I think the reasoning/logic is this.
Too high of a minimum wage (without a requisite increase of salaries above that) would prove more competition for lower skilled jobs. Using @DEAD7 example of $50/hr would mean an annual pre-tax salary of $96K. You'd have people with BAs and possibly even Masters applying for those roles (again, assuming non-minimum wage salaries don't see the same increase as well). Low-skilled workers would be out of their luck for those jobs. Realistically I don't see that being the case. Now if there was a petition to move the minimum wage to like $27/hr ~$51K a year, then yeah, there could be an issue there.
On the business side, too high a minimum wage would also hurt smaller businesses that may not have the bandwidth to eat the increased labour costs. They either have to raise prices on their goods, cut staff, cut hours or invest in technology to increase productivity (usually while also cutting staff). And passing off the costs to consumers can only go so far, especially on goods/services with cheaper substitutes.
I'll support Breh & Breh Burger shop down the street even if I have to pay $8 a cheeseburger. But when Breh & Breh raise their prices to say $14, then I'll just go to Shake Shack because at the end of the day, its a burger. Breh & Breh can't compete and the big corps win (again).
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And how does that compare to the current reality where Walmart and Amazon can sell product at razor thins volumes that allows them to undercut smaller mom and pop chains that can't keep up with sheer volume?
In this same scenario Walmart not only knocks out small businesses, but pays workers less and increases their strain on the government to provide sufficient social safety nets.
Thw argument presented seems more concerned about saving some small businesses than increasing the quality of life of workers. At the current rate, Walmart and Amazon have already won the battle against mom pop shops.
As far as the other point, we'll paying jobs have to adjust. If workers can earn more money without having to blow unnecessary money on BAs as a mere barrier of entry for a living wage society wins.
Good.
If fukking WAL MART does this, America's largest employer, then even Joe Manchin has to agree with the new minimum wage
Amazon stomped its ass, and trying to redeem themselves.
Next is the cut in executive pay and CEO pay, while paying their share of taxes.
If fukking WAL MART does this, America's largest employer, then even Joe Manchin has to agree with the new minimum wage
Amazon stomped its ass, and trying to redeem themselves.
Next is the cut in executive pay and CEO pay, while paying their share of taxes.
DrDealgood
Superstar
Any breh who says lots of even somewhat better paid knowledge workers would be resentful and like to trade that and compete for a 15er is deluded. 
Is someone here actually claiming that or can I spare you the embarrassing details why that's almost near universal bullshyt?
Is someone here actually claiming that or can I spare you the embarrassing details why that's almost near universal bullshyt?
Good news, will have a positive effect on the economy and market
In the case of a very high minimum wage, it effectively works like a "reverse race to bottom" where monopolistic corporations can increase wages to a level where small businesses (SMBs) can't compete but still not absorb all of the displaced workers from SMBs closing up shop (large corps have technical capacity where don't need as many workers to produce the same level of output). At least that's the theory behind it.
Precisely.
I personally think there needs to be a broader societal discussion on the expectations of a minimum wage vs. a livable wage. And maybe we as a society need to update our expectations.
My understanding has always been the minimum wage is the wage you pay for the most basic labour in the US, it doesn't necessarily denote whether or not that wage can support a living nor is there an expectation for it to support a living. Whereas the living wage is the lowest wage necessary for a single person to afford the a respectable living within their location within a specific time period to account for inflation.
Back in uni I once had a small summer job working at our school's golf course hauling and cleaning carts. Paid MD minimum wage of $8.25/hr at the time but I'd supplement it with tips from washing golf clubs of the parties rounding up on their sessions. It was just a menial job I used for some side income once my internships wrapped up and I had a few more weeks before the next semester started. I think it was well understood by other employees that this was just a job for people looking for some side income, not necessarily looking to sustain themselves with. Had it been I needed to actually live off that wage, then I'd have probably needed closer to $12-13/hr.
I'm 100% for a livable wage, but in that case, I don't think there'd need to be a Federally mandated minimum wage since there are differences in COL across different states and localities. Just let the state set their livable wage by taking into account the avg. COL within their state.
IDK man, I'm not a policy wonk.
I feel you @phcitywarrior. I feel like a lot if my formal education was taught by people who praise Walmart and Amazon for doing good business so I'm always 
when I see them making arguments about why modern society shouldn't get what they got
when I see them making arguments about why modern society shouldn't get what they got
They’re tired of Amazon taking their employees
Man it looks more the market has failed your theories.
It may be time for you to try Jesus.
Lord Free Prophecy