Come over and watch me hand the landlord the check?How will you prove your bet?
Your word?
I am a man of my word.
I'd rather be right/fair than happy/win.
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Come over and watch me hand the landlord the check?How will you prove your bet?
Your word?
I would say that the elasticity is up to $5.00 per hour max. A worker making $20 an hour is not impacted by another making $15.There's definitely a ripple effect on wages when the minimum wage goes up, but it's almost entirely concentrated at the low end of the wage spectrum.
ohaithere!I would say that the elasticity is up to $5.00 per hour max. A worker making $20 an hour is not impacted by another making $15.
A semi skilled burger flipper will want 50 cents to a dollar more than a new hire, but that is the extent of it.
There is demonstrable proof of this. A burger flipper wage will top out at say $17 an hour at a premium burger flipping establishment like in-n-out. If McDonald's raises their wage to $15, the premier in-n-out flipper will not strike and demand a higher wage, more than a dollar or two. A toner copier salesman, at $25 an hour, will imagine himself superior when comparing himself, and still be satisfied. A sewer pipe scrubber @ $30 an hour, will in fact be superior to both the burger flipper and the G.E.D. holding toner salesman. The scrubber is satisfied knowing that even if he smells like shít at the end of the day, he is in a better caste than the other two, and the wage elasticity ends.
So, you really think the people with some skills currently making around $15 +/- an hour in low wage areas like the midwest, south and others, are going to be jazzed when they make as much or just slightly more than a burger flipper?Rich guy always has a reason for poor guy not getting a break.
"OH, you can't do that because . . ."
I was making 15 an hour in the grocery business in the 80s.
Walmart's pay is so low that government has to give the workers money.
We must protect the Walton family?
Stoked doesn't matter. They can be jealous, but what are they going to do, quit? The wage ceiling is also part of how much the customer will pay for that service. The barber can complain all he wants, but if the customer won't pay, well then he is done.So, you really think the people with some skills currently making around $15 +/- an hour in low wage areas like the midwest, south and others, are going to be jazzed when they make as much or just slightly more than a burger flipper?
That whole $14 to $20 pay range for apprentice and some experience skill sets are going to want quite a bit more for their work. And it just works up the ladder from there. Will it affect the $40-$50+ an hour folks? Probably not much. But average wage in USA is about $25 an hour (full time, very roughly). Median wage is only about $19 an hour (full time, roughly).
You think these people in the $16-25 an hour range will be stoked that they only make a few bucks more a hour than a burger flipper with little to no skills?
Real inflation is already here. How much is a pretend bit coin again?Don't cry when REAL inflation rears its ugly head again. We kind of need it.
But can get out of control like it did in the 70's real easy if not kept in check (super high interest rates)
you keep repeating the same fallacy over and over againDon't cry when REAL inflation rears its ugly head again. We kind of need it.
But can get out of control like it did in the 70's real easy if not kept in check (super high interest rates)
Let him have his opinion on the 70's. Otherwise, he his going to start on Weimar republic, printing presses, and Jews.you keep repeating the same fallacy over and over again
rising minimum wage was not the cause of inflation in the 70's
it was an orthogonal response
increased minimum wages can have a stimulating effect, increasing employment as
consumer spending increases, reducing unemployment, and mitigating inflation
Uhhh, yeah dude, the whole point is to raise wages for the working class. If you've been paying attention for the past 30-40 years the costs of living such as healthcare, college, rent, etc have far outpaced wage growth.So, you really think the people with some skills currently making around $15 +/- an hour in low wage areas like the midwest, south and others, are going to be jazzed when they make as much or just slightly more than a burger flipper?
That whole $14 to $20 pay range for apprentice and some experience skill sets are going to want quite a bit more for their work. And it just works up the ladder from there. Will it affect the $40-$50+ an hour folks? Probably not much. But average wage in USA is about $25 an hour (full time, very roughly). Median wage is only about $19 an hour (full time, roughly).
You think these people in the $16-25 an hour range will be stoked that they only make a few bucks more a hour than a burger flipper with little to no skills?
You're talking out of your ass.You think these people in the $16-25 an hour range will be stoked that they only make a few bucks more a hour than a burger flipper with little to no skills?
Who would even think that way?You think these people in the $16-25 an hour range will be stoked that they only make a few bucks more a hour than a burger flipper with little to no skills?
I didn't suggest you are elite, just you are acting petty.Don't try to pin me as some elite with no apathy for economic struggle.