yodude
Banned
google shows a few here & tons in the states
Min wage increase
- Thread starter Joe Bass
- Start date
yodude
Banned
looks like a few clowns from the peanut gallery have some beef with you & so far are mostly babbling lol
have fun!
I've seen a lot of FB memes about small business going under due to the increase in minimum wage.
Did they go under every time minimum wage has increased in the past?
Some of these small business owners, especially the ones sharing memes, must really suck at math.
Did they go under every time minimum wage has increased in the past?
Some of these small business owners, especially the ones sharing memes, must really suck at math.
Snobike Mike
Banned
I hear that Marissa Mayer made $900K per week during her tenure at Yahoo.
Time to get on eliminating that gender pay gap and of course regardless of gender, I supposed she got overpaid?
Time to get on eliminating that gender pay gap and of course regardless of gender, I supposed she got overpaid?
Roadghost
Well-known member
The United States is not Canada. In every case, it is the United States that jailed Canadian executives for breaking the law. Canada? LOL, doesn't happen.
JTR
Well-known member
Less embarrassing to suck at highschool math, than to suck at kindergarten stuff, like memory games. Minimum wage hikes have always happened slowly, very slowly, like 25 cents a year slowly. They may not have gone under, but it DID translate into a $3-4 loaf of bread. A $3+ instant hike can't be slowly passed on to the consumer un-noticed. An extra large coffee at tim hortons has increased in net price by 70 cents since minimum wage was at 6.85. That took over a decade. It's now $2.10, expect by this time next year that it will be between $2.50-3, and you'll be waiting longer for it because there will be less staff on hand.
Location, location, location. An in-law had a Mr Sub franchise for a good number of years but it wasn't in a great area. He did OK by working almost every shift from open prep (10:00 AM) to 1:00 or 2:00 AM. It was like having 2 1/2 full time jobs. At $15.00 an hour 2 1/2 full time jobs would get you $75,000 a year without the headaches or investment.
I'm getting the impression that to make decent bucks at average locations you have to own several spots and staff them with poorly educated relatives that have few other options and are afraid to complain.
On the other hand there are some TH's where people stand in line for 10-15 minutes for a cuppa. I've stopped going to McD's because I can't stand their new system. I buy decent grind and make my own, saving time and money.
I don't think the boost in the minimum wage will raise the quality of service. No matter what you pay people, after six months they are used to the new standard and if they hated their job before they will start hating it again. Robocoffee?
That's not the point.
The point is that owners are saying they have no choice but to raise prices, cut staff or just keep things they way they are and lose money.
Well duhhh... the same can be said when any fixed or variable cost goes up. Prices will go up. Cutting staff is a dumb idea unless they were overstaffed to begin with.
So what's the point then?
You support a $15 min wage? Wow
No. Im asking you whats the point of raising the minimum wage when in the end it results in an increased cost of living for everyone, including the $15/hr burger-flippers?
Riceburner
Well-known member
it's a never ending cycle. What's the price of stuff and the median income compared between the 60s and now?
I never wrote any such thing.
Sorry, I misunderstood.
I'm not sure. If the buying power of minimum wage earners is unchanged by a minimum wage increase then it really doesn't change anything for them and just makes **** more expensive for everyone else.
If their buying power does go up then that's the point??
Meanwhile the govt collects more HST.
But your posts sure seems like it
Roadghost
Well-known member
The current inflation rate is very low. I wouldn't worry about it. The money will just end up being spent somewhere else in the economy. Don't forget, we're also raising consumption here which adds value to business.
My posts were commenting on the reaction to the minimum wage increase, not the increase itself.
I don't necessarily think a higher minimum wage is bad but implementing it without implementing other measures to ensure our job market stays strong and jobs don't get outsourced to cheaper locations might be a net loss. I have my opinions but I admit that my knowledge of economics and finance is pretty basic. I can't really comment on whether or not a higher minimum wage would be a net gain or loss for our economy.
It's hard to get a purely objective view of it... most people commenting believe pretty firmly one way or the other.
