Sad wojak cycle

The real minimum wage is 0

Alas, it is a viscous cycle. However, it can’t be easily stopped

It can actually. Simply set minimum wage according to an inflation scale and then require by law all paychecks to be up to date with the newest daily calculation.

You have to put a time period gap on product price increases for it to work

Hmm. Smart

Upvote.
Minimum wage is not living wage

Was never intended to be.

Not accoding to FDR it wasn't.

You are still talking?

...while at the same time making yourself less and less hireable in global economy.

Strange how it’s always the worker’s wages that get blamed for inflation and not their employer’s wages.

So let's say that I own McDonalds chain, I have 10 stores. I'm the CEO of this small 10 store franchise. Each Store has 40 employees. 2 managers 4 assistant managers and 34 regular employees. Each of the 34 employees work 32 hours weeks. Between all 10 stores, I'm making 500,000/year. Basically taking a $50,000 per store per year salary.

Suddenly wages go up from $10/hour to 12.50 an hour.

$320 a week per employee. For a grand total of 108,800 a month in wages between all 10 stores on low tier employees. Wages go up - now I've got to pay those same people $136,000. Or Cut people to keep around 108,000. Or - increase the price of my products, to keep up my yearly earnings. Or - let's say I'm very generous like you're saying the people at the top should be... I don't raise prices.

$27,200 Extra Per Store per month - times 12 months, is $326,400 a year. If I take that out of my pocket, I've went from $500,000/year down to $173,600/year. Or $17,360 per store... Now I'm making less than my employees at each store.

And I haven't even begun to get into how all of my supplier costs have went up for their minimum wage increases, so now - If I don't increase prices, I can't afford to keep the stores pen and everyone loses their jobs at the locations I have to close.

It's almost as if the push to raise the minimum wage tanked my business if I don't increase prices.

That was very well stated and a very nicely detailed answer. Too bad it’s way above the liberal brain pay grade.

Also the fact that makes you less hireable in a global economy. That is why also people's jobs are getting replaced by AI and people from India and Mexico as it happened with Rackspace, zones, and many other companies.

Your meme depicts 1 workers. Multiply that 1 worker by hundreds of thousands or even millions and it is an entirely different picture. Suddenly the greed is from the millions of workers (working at jobs that were never intended to be a career) demanding more because a handful of communists (who have no clue how economics works) say so.

nice handle.
do you know many i come across that se the Adam smith "invisible hand" premise who have never read Adam smith,and have CERTAINLY not read his entire premise in regards to the "invisible hand".
read the next two pages after he brings up the "invisible hand".
see who he is talking about.
and what the "invisible hand" actually is.

then maybe you will understand why i find or commentary so ironic,and hilarious.

thanks for laugh my friend!

I discovered Von Mises years ago. I have not read Wealth of Nations. I am familiar with the concept of the invisible hand. I guess you actually read Wealth of Nations? Did you also read Moral Sentiments?

Are you a fan of VonMises? Then what are you attacking me?

but i wasn't attacking you mate.
i was being salty...sure.
no heat on that fastball though.

i apologize if i offended.

let me offer something for you to chew on.
a Danish burger king worker makes 22.00per hour, American.

now, what Americans have been told for over 40 years is if you raise the workers wage, the menu will have to go up to counter the rise in labor costs.

which makes sense, it's a rational assumption.

yet the Danes pay LESS for their burgers than their American counterparts.
and their American counterparts make less per hour than they do.by half.

so what happened?

those kiosks have been around for 20 years,
they can cut your labor by a third.
the only reason why Americans are just now seeing them pop up everywhere is because our labor was so ridiculously cheap most fast food and retail found it cheaper to put a live human being at the counter, and avoid the heavy upfront investment.

this is a good thing.
burger king workers get paid more, but with fewer teams members.
and the kiosk manufacturers',techs,installers and programmers are making a livable wage.

and i have to say.
throwing out that trope of low wage earners and "not being a career" just means you don't understand economics.

not attacking you here.
but if you had read von mises.
you would know this already.

It takes an awful lot to offend me so no need to apologize.

thanks for being cool my friend.
stay awesome!

I'll take that as a yes. One cannot have too many friends.

"throwing out that trope of low wage earners and "not being a career" just means you don't understand economics."

I'm not sure why you would say that. Everyone in my generation and earlier knew that McDonalds, et. al, was work that high school and college students did until they got a real job. It was never meant to be a wage you can live on. It was just common knowledge.

But some how that common knowledge got lost. I realized that when I was trying to explain this very concept to my nephew (who is in his early 40's). He was trying to tell me that the minimum wage is supposed to be a living wage. I don't know what happened between his generation and mine but it seriously was never meant to be a living wage.

And the fact that the government imposed a minimum wage is wrong in the first place. It is not government's place to tell businesses how much or how little they can pay. It is market forces that determine wages.

Wages are determined by three things, the value the labor performed has to the overall success to the business, the scarcity of the labor force and competition in hiring (which also has to do with the scarcity of the labor force).

I know kiosks have been around for a long time but they fact that they are becoming more common place is because of the government increasing the minimum wage.

The left looks at the McDonalds corporation and they see a business that is saturated in cash and think they should be forced to give that money to the labor force.

First off, neither the left or the government has the right to tell businesses how to use their assets. They do it anyway but it is not their right.

Secondly, they are only looking at the corporation and not the local franchises. Every McDonalds is owned by a franchise who has to pay a percentage to the corporation. Many times the franchise owners are just barely earning enough to satisfy the demands of labor, the cost of operation and the percentage they pay to the corporation. That is not all franchises but it is a lot of them. It is the franchise, in most cases, who sets the wages and the cost of the meals.

There's a Carl's Jr (it's Hardees, if you live east of the Rocky Mountains) in my town that a new franchise bought them and immediately raised the prices significantly. It almost ran them out of business and market forces demanded they lower their prices.

Government force is NEVER the solution. It is always free people pursuing their own best interests.

"I don't know what happened between his generation and mine but it seriously was never meant to be a living wage."

Actually it was, as that was FDR's intent.

What does FDR know? He was an idiot.

Oh, he only invented minimum wage.

"So, go work for less then."

I did. And I was also underaged when I started working. I was 14 earning $0.50 per hour.

"underaged"
FDR invented that too. Don't know how old you are that you were making that, but .50 used to even be a standard day's pay. For men.

Yep. And he was an idiot for doing that.

"FDR invented that too. Don't know how old you are that you were making that, but .50 used to even be a standard day's pay. For men."

Back before the liberal set us on the road to serfdom, 50 cents an hour bought a ton more stuff than it did when I was 14. You could actually afford a house, a car or horse and buggy, and put food on the table with that kind of pay. And they were single income families.

But the left just could no stand that those "little people" were living as good as the rich Marxists. It was and is repulsive to them. So they devised plans to destroy the US economy and they have working on bringing us down for over a century.

But they're done waiting and the put Joe in place to finish us off.

No, you couldn't. A one room wooden shack with a corrugated tin roof? Yeah, you can still opt for that if you want. Cars were a luxury item. People even starved. Great Depression not ring any bells?

Ford. He invented the middle class. Find out how.

PS: Just saw the word "Marxist" as I was editing. That redundancy of that perpetual refrain gets redundantly redundant after a while. Also, it's social welfare you're referring to, as 4 term King FDR was, by definition, not optimal in the socialisticalteded vision.

But yeah, he shouldn't have lifted the South out of the Third World. Good grief, if to this very day its economy is still shuddering in shock because slavery ended, then sometimes we have to let backwards people lay in the swill they can't get themselves out of.

Sheesh, they flock to Tump as if somehow the capetbagger's going to give them the will and ability to not be stuck sucking on Uncle Sam's teat in perpetuity - by offering to have Uncle Sam take care of their problems for them. The irony,,,

"PS: Just saw the word "Marxist" as I was editing. That redundancy of that perpetual refrain gets redundantly redundant after a while."

You said redundant twice. That's extremely redundant.

The reason why I and all of the rest of the conservatives here point out how everything the left religiously believes in is Marxist is because it is Marxists and we're trying to wake you guys up. Marxism is and has been a colossal failure everywhere it has been tried.

We do not want your Marxism here. This is an awesome country with a lot of great opportunities for everyone but the left wants to muck it up with tyranny. Stop it!!!!

So until we can pound that into your thick heads we're going to keep redundantly pointing your Marxism.

On the flip side, if you really want Marxism, because the United States is still a free country, you are at liberty to go find a Marxist nation and permanently expatriate there. If Marxism makes any of you lefties happy then expatriate so you can be giddy with joy in your Marxist utopia.

"No, you couldn't. A one room wooden shack with a corrugated tin roof? Yeah, you can still opt for that if you want. Cars were a luxury item. People even starved. Great Depression not ring any bells?"

My father was a plumber and therefore earned a lot more than minimum wage but the house I was born in (well, actually I was born in a hospital but the house I lived in after the hospital) cost about $4,000 or $5,000 back in the mid 1950's in Georgia. It wasn't a big house, in fact it was quite small. But it was still a house that at that price was affordable for low wage earners.

Living in NYC you have a very distorted view of housing prices because life has always been unnecessarily expensive in NYC. It has always amazed me that people would actually move to NYC just to live in a dilapidated, run down, shoebox sized apartment and pay rent that was much, much, much more than a decent house anywhere else in the country. NYC is the most expensive place to live in the entire country. More so than San Francisco (or anywhere in the Bay Area). In So. Cal. the only places I can think of that are that expensive are Beverly Hills, Brentwood, Malibu, Laguna Beach and down by San Diego there is La Jolla (pronounced "La Hoya" for you gringos). In Utah, maybe Park City. That's where the Sundance Film Festival happens.

But definitely NYC is just way too expensive and it's an ugly crime ridden city.

By the way, I'm hearing that NYC is finally understanding what it's like to have illegal immigrants overrun an area and the left's racism is on full display.

I've not read Smith either, lest it seems I might be indicating that.

same deal with von mises.
talk about a slog....

I did, however, read Road to Serfdom by Friedrich Von Hayek.

It reminded me of that bar scene in Good Will Hunting with the business majors trying to humiliate the Matt Damon character's friends and he steps in and mows them down like a weed wacker to a confetti filled pinata,,,

great scene!

I need to watch that movie again, as I only watched it once ages ago.
It kinda depressed me, that being adrift in one's own fears of finding out you really are stuck,,,

There's the old Modda. Posting sepia toned images of woman with freaky eyes.

Actually that's Modda Mach II, th revival of a dormant profile after a cpl of yrs, AKA Modda is a Bad Bitch.

You said the other day you program the very computer codes we use for a living, yet you don't know how to do a simple image search?

I didn't care who the person was or where she was from, I was just commenting that you used to post those pictures a lot.

You deleted that picture? Are you ashamed to have posted that picture?

What are you going about now?

"But yeah, he shouldn't have lifted the South out of the Third World. Good grief, if to this very day its economy is still shuddering in shock because slavery ended, then sometimes we have to let backwards people lay in the swill they can't get themselves out of."

It is never the government's responsibility to lift anyone out of poverty, even the South. That is the responsibility of the individual. If you do not like poverty then you have to make changes in your life to where you can lift yourself out of poverty.

Speaking of which, Atlanta is becoming the new New York. Because New York has nothing, and I mean nothing, to offer any business to stay there. Anticapitalism politicians have destroyed any reason to run a business in NYC. Because of that Atlanta has made itself more welcoming than any other large city. In other words the center of the universe is moving to Georgia. The slogan used to be "If you can't make it in NYC you can't make it anywhere". Now it's "If you can't make it in NYC that's because the government is standing in your way".

"Sheesh, they flock to Tump as if somehow the capetbagger's going to give them the will and ability to not be stuck sucking on Uncle Sam's teat in perpetuity - by offering to have Uncle Sam take care of their problems for them. The irony,,,"

Trump is a carpetbagger but Biden is a fascist and fascists are much, much, much worse than carpetbaggers. Fascists, communists, Nazis and socialists are pro-slavery. It's a different kind of slavery that used to be practiced in the South. Instead of people owning other people, it is the government owning everyone and everything. Everything you think, do and say must go to the benefit of the ruling elites.

Biden is importing fascism from the WEF and Klaus Schwab into the United States and the left is just too blind or stupid to see it.

Why else do you think that more businesses shuts down because of high labor cost?

Here’s a crazy idea that’s going to blow your mind. If you can’t afford to pay your employees, maybe you shouldn’t be in business.

businesses would have been stable if the resouces we use daily isn't expensive. Same goes with labor costs.
My question for you is this: would you rather have folks to work hard everyday for little pay, especially when the resources we use is outrageously expensive?

You mean why should the hardest workers make anything to show for it?