WSJ: $20 minimum wage coming for California’s fast food workers

Incorrect.

Price increases associated with minimum wage increases tend to be rather weak. Certainly not enough to offset the benefits to the worker.

 

You would need to ask the stockholders about that. They are ultimately the ones that decide CEO pay, presumably because they think that CEO will make them money on the stock market.

My guess is they would say no. Giving stock options to a minimum wage worker doesn't make any sense. If they were that important, they wouldn't be making minimum wage. If the minimum wage worker wants to earn stock options, they need to make themselves more valuable to their employer.

 

That’s not an argument against increasing the minimum wage. That’s an argument in favor of UBI and free higher education. Why are we wasting human potential on taking orders at McDonalds anyway? Technology was supposed to free us, not threaten our livelihoods and scare us into accepting poverty.

 

Oh, you just made it sound like free money when you were explaining why CEOs are wildly overcompensated. I guess that’s not the case. My original comment stands.

 

100%
I am a huge proponent of UBI — we eventually will not have a choice but I fear how much damage will occur before our government allows such to be discussed.

The value of labor will likely be diminished substantially during many of our lifetimes.

 

I did not say free money.

I said it comes from Wall Street. This means it comes from the stockholders. Taking money from the increased value of stock takes money from the stockholders, but it costs the company's operating budget nothing. You tried to imply that this would increase the price of goods. It does not. You were mistaken.

 

"Good" has no value. Its about profits.

 

Perhaps in the short term. In the end, only the tax man gets a raise. Placing the government thumb on the scale forces companies to cut back on employees to compete. Work will be outsourced or automated. In Los Angeles, the min wage is $16.04. When it got to $15, supermarkets replaced cashiers with self- checkout. My building had 2 parking attendants. They have been replaced with pay stations.

 

Kids nowadays aren't worth half the pay they're getting. They are chronically late and chronically distracted by their phones and they do the bare minimum they can absolutely get away with

 

Raises for burger flippers but not the military. Maybe CA can pass one of those law thingys.

Biden White House pushes back against GOP bill including military pay raise: 'Would veto it'

The White House argued the bill was underfunded and would hurt military readiness

The White House is threatening to veto House Republican legislation that would give the military's junior enlisted troops a 30% raise next year.

"If the president were presented with H.R. 4365, he would veto it.," the White House said in a press release addressing the proposed legislation Monday.
…………
It includes language that would ensure no member of the military would make less than the equivalent of $15 per hour during a 40-hour work week.

https://www.foxnews.com/us/biden-wh...ll-including-military-pay-raise-would-veto-it

 

Next headline:

“Few jobs for food workers”

 

And rents across the state will increase to slurp up any excess money minimum wage workers thought they were gonna get ...as happens every time minimum wage goes up.

 

Sorry but rent goes up whether or not the min does.

 

Goes up faster/more. Landlords arent there for charity, they wanna maximize profits just like everyone else. They charge the most they can get, renters will pay what they can afford, and they can afford more when wages go up. There is no way to raise 'kept' wages in a renter society, and we are more and more a renter society every day.

 

Oh, I dunno, maybe something to do with feeling good about helping people above and beyond selling them fries and shakes?

You tell me.

People who want to be EMTs aren't doing it just for the money, many are doing it because it's to a greater purpose, like helping people, like going to med school, etc., I mean EMT on your resume is much better than burger flipper.

Therefore, your premise is rejected. Besides, EMT's are underpaid. They are due for a raise.

 

What do CEOs have to do with this conversation?

 

What is silly about $100 per hour? More money is better, right?

 

Yeah, so let's cut taxes to zero, less taxes is better, right? What say you? That's kind of the same argumentum ad absurdum.

 

You guys really don't understand the concept of moderation do you.

 

Great. I'm in.

 

$100 per hour seems perfectly moderate. It's not $1,000, is it?

And plus, both you and @Quantum Nerd dismiss the idea as silly, but give no actual economic reason why the minimum wage should not be $100 per hour. Can you explain *why* it should not be $100 per hour?

 

Like I said. You guys really don't understand the concept of moderation do you.

 

You guys? First of all, I am only one person. Or was that like "you people"?

And my suggestion is a test. Why is a $100 minimum was not a very good thing for workers?

 

It’s five times the proposed amount. You don’t think it was silly?

 

They’re employees of the companies that involve the minimum wage discussion.