ECO101
Raise minimum wage
Raise unemployment
The invisible hand at work or greed? Who knows

I could personally give two farts but it's effectively a wage hike for everyone

Some guy is sitting across from you and you offer 18$ for a packaging job they will just counter and say. Hey, Mickie Ds down the road is starting people at 20$ an hour. Your job seems a little more sophisticated so I want 22$ an hour. Enter next guy. Same thing except they have experience and want 25$ an hour.

It's like one stack of Dominos
You can't raise a lever and not expect the nearby levers to stay put.

Scenario 1: Companies Raise the prices
Scenario 2: Companies lay people off
Scenario 3: More automation
Scenario 4: Close shop

I'm seeing a lot of 2 and 4 already

It's not as detrimental as it seems because the market clearing wage in California is already around that. Price floors are problematic when the current market clearing wage is way below the proposed floor price.

So for example, if a $20 min wage is proposed in a place where employers can easily and have consistently gotten entry level labor for $10, then that floor would be highly problematic. In California though, if I had to guess, fast food workers already receive close to $20/hour, so it's not as big of an impact if for example this way being implemented in backwoods towns of West Virginia.

in n out raised* their prices by like 20 cents or something, who gives a shit? we need to kick the effective corporate tax rate back to what it was in the early 50's, these bastards have the dragon sickness

This post was edited by gnarjay on Apr 5 2024 03:55pm

I agree with this it's not as detrimental but it's an issue none the less.

I see a lot more of scenario 3: More automation

Eventually humans will be obsolete when it comes to tasks such as those.

It's just like automation in a warehouse. All you need is a tech/mechanic who can fix the machinery and you pay him a good wage/ high salary and then you fire the people who weren't doing much anyway.



This too. I mean Uncle Sam getting 30-50% of peoples earnings through a myriad of different taxes not to mention are dollar has far less "buying power".

Are great grandparents all made 15/hr and they were able to raise a family of 5-6 and the wife stayed home. We will never see that again. I'm jealous.

I know couples who make 200k+ combined and they are barely getting by.

I got a friend who makes 250k-500k a year and he bought a house for 750k and he rents out two floors to "save money".

Inflation ain't going anywhere. We live on a finite planet with finite resources and most people/corporations believe in infinite growth.

This is why the UN/Bilderberg/Trilateral Commision elitist types are constantly harping on, "We need a carbon tax". The planet can't sustain our exponential population growth so we have to reduce/take away certain liberties.

so i assume this shitpost is related to that


This post was edited by Jupe on Apr 5 2024 04:08pm

I personally care less about a minimum wage, and more about a livable wage. Anyone who works full-time should be able to support themselves, and if a business cannot afford to compensate people at that level, then they cannot afford to run a business.

Definitely sorely needed, but now companies here are using it as an excuse to raise prices unnecessarily. One of the main offenders are Jersey Mike's raising a 6-inch from $9.99 to $12.95 in my area, Despite their wages starting at $18.75 already. In-n-Out raising their prices (even if only by 10 cents) doesn't make sense either because their starting wage is already $20+($22 in my area)

I need to do more local research and will definitely be looking out for price increases, and if any local businesses try hiking i'll stop doing business with them as the bill only affects those with 60 or more stores in the US

Ultimately all of this is a function of continually higher inflation. Restaurants have some of the thinnest margins compared to other business models. Many just can't eat these costs and stay profitable. Wage, fuel, food, etc. inputs all play a factor. You can thank big government which continues to devalue our currency by creating value out of thin air simply by firing up the printing presses.

This post was edited by ofthevoid on Apr 5 2024 05:24pm

Artificial inflation sure. Like I said a price increase may be warranted, but a $3 price increase per item when you increase a workers wage by $1.25 an hour doesn't make sense. In-n-Out's increase makes even less sense because they don't have to do anything.

That’s because you’re only looking at a single input and think it’s the only thing that matters. What do you think happens when gasoline prices go up or food inputs like ground beef, chicken, potatoes and so on?

Somewhat of a tangent but relevant:



https://x.com/charliebilello/status/1776217022877106407?s=46