Reply to How much raise should my wife ask for now with Biden and $15/h minimum wage?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I think companies should pay a living wage. Why people feel like poor people should stay poor while CEOs remain rich as croesus is puzzling to me. (stolen from elsewhere) Jeff Bezos earns $150,000, pays warehouse workers $16/hr and you are mad with the poor soul packing boxes?[/quote]

You people fail to grasp basic economics. An increase in minimum wage puts pressure on all pay. Do you all think the prices of goods and housing will remain the same? Of course not. If labor goes up prices go up and we all end up back in the same boat again.  Of people can afford more house that's what they will do. It has the exact same impact low interest rates have had on housing the more money people can spend on housing the more they will. However it's not like housing conditions get any better as a result. Many people at this point are living in shit shacks. [/quote]

Of course this is exactly how it works. Even when the grumblings of a minimum wage increase in MoCo was coming through years ago, I sat on the board of a directors at a company where our hiring suddenly became more expensive and more difficult. The company was in an industry that pays relatively lower wages because many of the workers are not very skilled. But OPs argument was exactly what numerous potential hires and current employees kept saying - "eventually minimum wage is going to be $15 so I'm not working for $16." Keep in mind this was 2016 or so where the minimum wage was still around $11. So, it doesn't even actually require an ACTUAL increase in minimum wage to drive wages up and make hiring difficult at higher levels. I have a friend in another state where they are contemplating raising the minimum wage significantly. When they do so, he will be in a similar position as OPs wife. He coincidentally also works as university staff. He literally told me last year, "if I had known this is what would happen with minimum wage, I don't think I ever would have gone to college." The absurd increase in the minimum wage is going to have a variety of unintended negative consequences. [b]That's not to say there won't also be positive consequences - of course it's good that somebody can work a job and afford food and rent. [/b]But, the question is, how long will it take for that person to be replaced by an LCD touch screen or a computer? As for me, yes, I do think that if I was making 10 times what the janitors were and now I will only be making 5 times what the janitors are, yes I also expect a raise. Sorry that's just life.[/quote]

Kinda buried the lede there, huh, PP?  "Well, there are incidental benefits, like *being able to buy food and have a place to live.*  But that's clearly the less important consideration here!"

Unbelievable.  [/quote]

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