$15 Minimum Wage Would Bring Mixed Fortunes for U.S. Workers.

you do realize you can manufacture a competing product without having to 100% knock off someone elses, do you not?.. xbox one and PS4 have virtually identical hardware inside, what patent and trademarks prevent microsoft from doing is creating a casing mold based on the PS4, slapping a sony logo on it, and claiming its a PS4.. your agument over patents and trademarks is one of the worst arguments ive heard on this site so far

@watercrack445: Where exactly does that $1k a month come from?

yes, by moving production to another country, like china

You literally just described a cost increase to the customer. You are paying more for less.

the fact he doesn't realize he just made the argument against himself speaks volumes of his intellectual dishonesty.. he's just a troll

It's projected to 1.3 million for those out of work so it's a net negative.

That all increases costs as well.

it'll force many companies to close doors on their US factories and move production overseas, and force smaller companies who cannot afford to move production, or those who provide a local service like food, to close their doors completely and go out of business

if you want to lift people out of poverty, you need jobs first and foremost, someone not working at all is not only not paying taxes, but is also costing those who are still paying taxes more for welfare or unemployment benefits compounding the costs by increasing costs while decreasing tax revenue

as far as having a "living wage".. this just isnt going to happen with any minimum wage job no matter what the minimum is set to.. youre not going to raise a family flipping burgers at mconalds, get over that fantasy, put some effort into education and training and get a job that pays better.. nobody owes anybody a "living wage" and thats your job as an adult to work towards

learn to code ;-)

@LJS9502_basic: I'm curious how you evaluate that as a net negative?

honest question, but have you ever had a job?

i'll take that as a "no" and i rest my case

im calling bullshit

Minimum wage isn't meant to be a liveable wage. The kid working at McDonald's or bagging your groceries isn't meant to support a family on it.

Not everyone will get 1k a month, only those who are eligible.

It will come from by scraping some of the social programs and combining them into an UBI.

what determines eligibility?

Lol dude, I don't think you understand how value / cost works. When a company reduces the amount their customer receives, but charges them the same amount, internally it is looked at as a cost savings, and would be reported as such to share holders.

Per your example:

1.5 oz candy bar cost $1

1.25 oz candy bar cost $1

If I need 15 oz of said candy bar for something, in the end, do I pay more for the 1.5 oz bars or the 1.25 oz bars to reach my 15 oz need?

That is actually the other problem, these low skill jobs are really suppose to be a starting point into understanding the dynamics of the work place. Raising the minimum wage reduces the incentive for people who should have aged out of the starter job arena, keeping them in their roles, and reducing the opportunities for the youth to gain work experience.

and without work experience, you end up with 30 years olds living with their parents calling for UBI and telling the internets what a great visionary bernie sanders is

lmfao, what minimum wage jobs were unionized?.. jobs that require no skill or education generally do not get the opportunity to unionize because any company could just as easily fire the lot of them and have them replaced by the end of the day by highschool kids.. they have no trade or skill to bargain with

it was never a living wage, and it never will be, unions have absolutely jack shit to do with that

and when exactly did this union busting supposedly happen?.. and i would suggest you refrain from accusing anyone from replying with stupid nonsense, as basic reading comprehension, math skills, logic, and education clearly elude you across many topics

Yeah you did. You might have kept the price the same but the quantity of the product is less. Which means you are paying more per oz.

they should really start teaching math in schools again

Increasing minimum wage has never been followed by a 1:1 ratio in increased costs, has it?

It's depended a lot on the era and taken some time, but usually a minimum wage increase has been paired with raise in costs in a 1:3 ratio (this is basically a guesstimate). However, this is not even across the board; some raised more, others did not.

While minimum wage hikes are directly tied to cost increases, the actual impact on any given product or service is much more complex.

Which would mean it helps those with minimum wage.

What should have been done long ago was having laws that said minimum wage should at least follow inflation.

it would seem this is another fabricated crisis.. we must have an election coming up soon or something

the average poverty rate hasn't moved much over the last 50 years.. this means that with all that war on poverty, and minimum wage increases, nobody has been pulled out of poverty and the rate of poverty is actually going down shown in the first chart, the red line being the percentage of the population in poverty

the second chart shows that while poverty levels, adjusted for inflation have remained stable, welfare spending itself has skyrocketed, shown in the second chart

the third charge shows the average household income per year, the top line adjusted for inflation

also keep in mind every adjustment to minimum wage throughout the countries history has been done in cents, in some cases taking 20 years to increase a dollar, while that poverty rate remained level, it went up $2 as the highest rate increase between '97 and 2009... what the left is discussing is an unprecedented increase of $7.50 over 5 years.. that's not adjusting for inflation, that's buying votes

Not really. Every scientific study to date of minimum wage has showed it never has anything more than an extremely mitigated success at best in the last fifty years, due to elements that minimum wage hikes cannot control.

Plus, it is extremely uneven across the board as far as effects. You see greater impact in fields where human skills are extremely important, such as child care and medicine, as opposed to fields where they are not. Medical care access tends to decline with minimum wage hikes.

I have zero problems with raising minimum wages, but the whole $15 thing, doubling hourly wages with the snap of a finger, is simply put retarded.

So you wont answer in which case the customer pays more?

they're just doing it to buy votes.. "vote for me and i'll double your pay".. "vote for me and ill give you $1,000 a month" or "vote for me and i'll give you free healthcare".. thats the ONLY reason their proposed minimum wage increase is ridiculously high

Cost increases to the manufacturer are passed on to the consumer.

and that includes added costs from taxes, regulations, and energy costs (carbon taxes), all passed onto the consumer in the price of the product

Which has absolutely nothing to do with this discussion. But at least your FINALLY agreed that it's an increase cost.

@LJS9502_basic: "Cost increases to the manufacturer are passed on to the consumer."

That is sometimes, but not always, the case.

Got it, you are wrong and prefer not to admit it. Cool, at least now we know where you stand.

he's either trolling, 7 years old, or has serious mental disabilities

That is the business model and I'm not sure why you're arguing against this. There is a formula for pricing.

There are formulas/strategies for pricing, but blindly raising prices because your costs rise is not one of them - that's a sure way to run a business into the ground eventually. Costs represent the price floor - the price at which supply ceases - but they aren't the only (or even the primary) determinant of a pricing strategy.

I'm arguing against what you're saying because it isn't true. It's overly simplified to the point that it isn't representative of what you're trying to say.

The only thing raising minimum wage does is hurt the middle class with the inflation it causes.