Living somewhere is not a good replacement for actual knowledge and thinking capability.

The claim isn't that anywhere with a minimum wage is going to be a complete hell hole for everyone living there.
The claim is that raising the minimum wage has negative effects that don't magically disappear when you bring up someone being rich.
Actually being aware of the concepts and facts involved is better than some mentally ill leftist clown running his mouth and bashing people for being informed and well-read.

This post was edited by cambovenzi on Sep 9 2020 03:27am

Note that gains in net worth based on rising stock prices are not the same as operational profits of the underlying companies.

I think that some of those megacorporations à la Google/Amazon have become too big, and should be split up. And they should of course pay more in taxes. But this has nothing to do with the way those "$792 trillion in wealth gains for billionaires during a pandemic" came into existence - namely the markets anticipating a pandemic-induced shift in the way we work and do business going forward. It was a white swan event causing a seismic shift, and the windfall of this shift can be expected to largely go to the big tech companies, at the expense of everyone else.


Btw, on a somewhat related note: over 300 of the 500 companies in the S&P 500 index are still down from their pre-corona peak, many of them substantially. However, the top 5 shares in the index are the tech giants: Apple, Microsoft, Amazon, Facebook, Google. Their weighting has become so high that they make up 23.3% of the entire index - and these titles are way up this year/in recent months. Basically, the tech behemoths have become so huge and made so many gains due to corona that they single-handedly carry the entire benchmark indices like the DOW or the S&P500 to new heights, even though most of the rest of the economy is still in dire straits.

This post was edited by Black XistenZ on Sep 9 2020 03:50am

Except its nonsense, the negatives you are talking about are not really negatives.

You don't even know what the negatives are yet call them nonsense. A true anti-intellectual.

unemployment isn't a real negative? lol.

You have gone on with your nonsense for years, again, I live here in reality where the thing you say doesn't work works just fine.

We have door greeters here in Australia.
If higher minimum wage lead to lower employment they would have been they first job to go.

Where higher minimum wage has been implemented it has not resulted in higher unemployment in the United States. The only way, short of just automating the entire job out of existence, that the job will be eliminated is if the cost of the employee is more than the value they bring to the company, which is virtually never the case.

Maybe it will in the very long term with automation, but that's gonna happen anyway.

Your delusions and hostility to reason aren't an argument.

strangely enough a robot greeter scares off customers.



historical data for automation pre-replacement stage (aka pre robotics) is the equivalent of bringing up "Africans sold each other into slavery" into a civil rights discussion.

raising the minimum wage in 2020 will result in unemployment, underemployment, and outsourcing jobs overseas.

i dont think you people get it some times, i dont think you realize when i walk into a factory that has 20 day labrorers and redo their setup, that 5 get fired or phased out, 5 more get put on 30-35 hours a week instead of 40 with overtime, and 10 are lucky to keep their jobs as is but are looking at no raises for a few years. i do this weekly. ive got crossing picket line stories i could write a book on.

"that's going to happen anyways" = "the house is on fire, toss gas on it".

and it reeks of white privilege, the people worse affected will be minorities or those in impoverished communities. y'all need to check yourselves. im looking at making insane amounts of money if you people are put in charge.

This post was edited by thesnipa on Sep 9 2020 09:09am