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SAN Diego MINIMUM WAGE HIKE Eliminates many Job

 
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MinervaDoe
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PostPosted: Sat Apr 15, 2017 10:44 am    Post subject: SAN Diego MINIMUM WAGE HIKE Eliminates many Job Reply with quote

SAN DIEGO MINIMUM WAGE HIKE VAPORIZES THOUSANDS OF ENTRY-LEVEL JOBS
https://milo.yiannopoulos.net/2017/04/san-diego-wage/

Quote:
The state of California increased their minimum wage this year to $10.50, but San Diego didn’t think that was enough. San Diego decided to up their minimum wage all the way to $11.50 per hour and there have been some serious consequences mainly in the restaurant industry.

According to The San Diego Union-Tribune, the restaurant industry in San Diego County suffered a loss of about 4,000 jobs.

California has now decided they’re going to raise the minimum wage in the state to $15 per hour by 2023. The Governor of California doesn’t think it really makes sense, but he approved the wage hike anyway. New York’s Governor Cuomo also

New York’s Governor Cuomo also plans to raise the minimum wage to $15.

Now, we’re seeing the consequences of a minimum wage hike in San Diego that robbed the restaurant industry of thousands of jobs and caused price increases and reductions in services – and it isn’t anywhere near the $15 mark it’s expected to hit.

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Psycho King II
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PostPosted: Sun Apr 16, 2017 12:20 am    Post subject: Reply with quote

God forbid the "job creators" should ever make any kind of sacrifice of their own. No, just pass it on to the rest of us. Because, yeah, it would hurt them so much to pay a living wage to their employees.

And BTW, I noticed where that article comes from. Why do we still care what Milo Yano-phony has to say any more?

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MinervaDoe
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PostPosted: Sun Apr 16, 2017 9:04 pm    Post subject: Reply with quote

reprint of a Wall Street Journal article:

https://news.uci.edu/wp-content/uploads/2015/12/Neumark-WSJ-12-16-2015-The-Evidence-Is-Piling-Up-That-Higher-Minimum-Wages-Kill-Jobs.pdf

There is lots of evidence that it is a job killer....

If a business is struggling to stay afloat, the math is pretty simple.

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Psycho King II
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PostPosted: Mon Apr 17, 2017 12:00 am    Post subject: Reply with quote

If a business can't afford to pay employees $15 an hour and still make a profit, then something was wrong with the business in the first place. Don't believe these CEOs who lay off workers and then go and give themselves huge bonuses. Why can't they use a fraction of those bonuses to raise wages for the employees?
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MinervaDoe
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PostPosted: Mon Apr 17, 2017 10:01 am    Post subject: Reply with quote

Grocery stores operate on about a 1% to 2% profit margin.
Retail salaries account for about 12% to 18% of the businesses expenses.
Raising wages from $10 an hour to $15 an hour is a 50% increase in wage expense. So, now it is 18% to 27% of business expenses. i.e., it went up by 6% to 9% and that wipes out the 2% profit margin.

http://yourbusiness.azcentral.com/profit-margin-supermarket-17711.html
http://smallbusiness.chron.com/industry-standard-gross-margin-groceries-38121.html

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Psycho King II
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PostPosted: Mon Apr 17, 2017 10:39 am    Post subject: Reply with quote

You do realize that the 1-2% of profits is a lot more in actual dollars than the 50% of the average worker's wages, right?

It's the reason why we don't all pay the same percentage of our income in taxes. Rich people can afford to go without 1-2% of their income a lot easier than poor or middle class people can.

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MinervaDoe
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PostPosted: Mon Apr 17, 2017 1:59 pm    Post subject: Reply with quote

Like you, one of my undergraduate degrees is in psychology. The other one is in business.
I am very familiar with how foreign some of these concepts are to people who are not trained to understand finance.

That said, your comment reminds me that the graffiti in the bathroom stalls of the Psych building were much more humorous than any hieroglyphics found in the business department restroom.

Here's a little juxtaposition for you. Keep up the struggle.
Fidel Castro wrote:
The equal right of all citizens to health, education, work, food, security, culture, science, and wellbeing - that is, the same rights we proclaimed when we began our struggle, in addition to those which emerge from our dreams of justice and equality for all inhabitants of our world - is what I wish for all.


Adam Smith wrote:
Labour was the first price, the original purchase - money that was paid for all things. It was not by gold or by silver, but by labour, that all wealth of the world was originally purchased.

https://www.inc.com/jeremy-quittner/small-business-week-minimum-wage.html

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Psycho King II
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PostPosted: Mon Apr 17, 2017 11:59 pm    Post subject: Reply with quote

Pure communism usually doesn't work. Pure capitalism usually leads to corruption. We need a mix of the two. It is possible to make a decent profit without throwing employees under the bus.
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MinervaDoe
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PostPosted: Tue Apr 18, 2017 10:33 am    Post subject: Reply with quote

It is a battle of dichotomies.

Robot building a brick wall
https://www.youtube.com/watch?v=YxDIBUY2Y2k

CaliBurger chain rolls out burger-flipping robot
https://www.youtube.com/watch?v=DXg4rvfwmNI

Amazon Robots
https://www.youtube.com/watch?annotation_id=annotation_1863554943&feature=iv&src_vid=quWFjS3Ci7A&v=6557PGlZ7L4#t=3.1s

Robots replacing human workers may leave millions out of job
https://www.youtube.com/watch?v=J5MLvHvITvg

Will your job get outsourced to a robot?
https://www.youtube.com/watch?v=-naGYaiAlFA

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MinervaDoe
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PostPosted: Tue Apr 18, 2017 10:48 am    Post subject: Reply with quote

But, what drives our wages down?

Quote:
Of course, the reason American workers’ wages are so low in the first place is because of the Democrats' policies on immigration. Republicans might want to point that out.

Since the late 1960s, the Democrats have been dumping about a million low-skilled immigrants on the country every year, driving down wages, especially at the lower end of the spectrum.

According to Harvard economist George Borjas, our immigration policies have reduced American wages by $402 billion a year -- while increasing profits for employers by $437 billion a year. (That's minus what they have to pay to the government in taxes to support their out-of-work former employees. Of course, we're all forced to share that tax burden.)

Quote:
Or, as the White House puts it on its website promoting an increase in the minimum wage, "Today, the real value of the minimum wage has fallen by nearly one-third since its peak in 1968."

Why were wages so high until 1968? Because that's when Teddy Kennedy's 1965 Immigration Act kicked in, bringing in about a million immigrants a year, almost 90 percent of them unskilled workers from the Third World.

Our immigration policies massively redistribute wealth from the poorest Americans to the richest. It's a basic law of economics that when the supply goes up, the price goes down. More workers means the price of their labor plummets.

Unfortunately, politicians spend a lot more time talking to rich employers than to working-class Americans. And the rich apparently have an insatiable appetite for cheap labor.

Having artificially created a glut of low-wage workers, now Democrats want to artificially raise their wages.

Attack the logic. Not the source.
http://mwamericanpolitics.blogspot.com/2014/02/raise-minimum-wage-to-14-hour-using.html

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Psycho King II
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PostPosted: Tue Apr 18, 2017 5:27 pm    Post subject: Reply with quote

"... the rich apparently have an insatiable appetite for cheap labor. "

Of course, they never have an obligation to maybe, I don't know, not be so greedy once in a while.

No, it's always on the immigrants, or the Democrats. The Party that so often talks about personal sacrifice never seems to to want to make any sacrifices themselves.

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MinervaDoe
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PostPosted: Tue Apr 18, 2017 5:31 pm    Post subject: Reply with quote

The facts are right in front of you.
Do with them what you may.
Labor is subject to the same supply and demand relationship as any other commodity. If someone is trying to make a living on minimum wage, they are going to be competing with lower skilled immigrants who will live four families to an apartment to stay in this country.
It simply drives wages down.

But, again, I prompt an attempt at Janusian thinking
http://www.creativitypost.com/create/janusian_thinking
:

John Maynard Keynes wrote:

Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.


Milton Friedman wrote:
Indeed, a major source of objection to a free economy is precisely that it... gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.

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