Minimum Wage Increase Impact/Effect

Differences in opinion I guess.
Ceo comp packages are one thing since he/she/lgbt is running the show.
Having how the business operates/decisions/strategy is another, instead of investing that delta to $70k, could've reinvest into the r&d/product/service/innovation/bonus plans to motivate employees/etc...  He's facing hard times now, what if the company folds, that's due to bad strategy and not the CEOs compensation
 
HMart said:
Should there not be a corresponding call for a free-market approach to zoning in Irvine, then? Abolish zoning, and allow developers to build a towers wherever they please?

Just like (federal/state) government is artificially propping up wage prices and restricting quantity of jobs, (local) government is also artificially artificially propping up housing prices and restricting quantity of living units.
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Speaking of towers. Are there zoning in Irvine looser south of 405, passed by Central Park West with some > 3 stories, especially that Astoria once sold units as residences but turned rental due to crazy prices and lack of demand
 
Some years ago there were slum lords in the SG Valley area renting out beds for $10/night.  If you're willing to pay more, you can get private room & bathroom.  However, the landlords figured out that they can make more $ renting to pregnant mothers from the "birth tourism" industry.  So the slum rentals suddenly got upgraded to premium suites with new bathrooms and various pastel colors.  Not sure where those migrant workers are renting now.

As for Mr. Price, IMO he is free to pay his employees however he likes, so long as he can afford it.  If he cannot, then that's his problem.  I'd have went with company performance based bonus to the employees instead of a fixed salary commitment that I couldn't afford.
 
The minimum wage should be $250,000 per year so slackers who spend all day posting on TI can afford to buy a house in Irvine.
 
;D

So...

Step 1: Post on TI after slacking all day
Step 2: ???
Step 3: Collect $250G in minimum wage
Step 4: Buy house in Irvine!

Genius!
 
2173760-630x409.jpg
 
Jace said:
http://finance.yahoo.com/video/wendy-minimum-wage-warning-211929514.html

I see more jobs replaced by machine and another countries.

If owner are shipping product manufacture jobs to another countries when the minimum wage is at $8.75.  What will happen will happen when the minimum wage is at $15?
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I agree.

A company that comes to my mind that might get affected by the new minimum wage law is American Apparel. According to their website, American Apparel employs 6,500 people in LA. (https://www.americanapparel.net/aboutus/verticalint/usa/ )

American Apparel is located in Downtown LA. As such, American Apparel clothes are manufactured in the US. Maybe it doesn't matter, American Apparel indicated they may not have enough funds for next 12 months.

source:http://www.foxbusiness.com/markets/...ying-it-doesnt-have-enough-funds-for-next-12/
 
California leglistators almost finalize a deal to increase the minimum wage to $15. If the deal passes, this will remove it from the ballot box in November.
 
eyephone said:
California leglistators almost finalize a deal to increase the minimum wage to $15. If the deal passes, this will remove it from the ballot box in November.
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50% salary increase for minimum wage workers.  And how about those currently making $14.75/hr since they have a higher skillset than their $10/hr counterparts.  I bet they will only see a .25c/hr increase.

This will kill a lot of small business owners, particularly those in the restaurant industry.  Get ready for $9 fast food hamburgers and $5 large fries.  McDonalds large fries are already $3....
 
aquabliss said:
eyephone said:
California leglistators almost finalize a deal to increase the minimum wage to $15. If the deal passes, this will remove it from the ballot box in November.
Click to expand...


50% salary increase for minimum wage workers.  And how about those currently making $14.75/hr since they have a higher skillset than their $10/hr counterparts.  I bet they will only see a .25c/hr increase.

This will kill a lot of small business owners, particularly those in the restaurant industry.  Get ready for $9 fast food hamburgers and $5 large fries.  McDonalds large fries are already $3....
Click to expand...

We own small businesses and you can bet we'll be hiking up prices to cover the overhead of this minimum wage increase. And so will every other business out there. So people better be prepared over the next few years to see their cost of living rise higher at a fairly rapid pace. And as business owners any additional businesses we would open would not be in California. So California better be prepared to see some of these businesses move out of their state = job loss. These are the benefits of a socialist movement. Feel the Bern...
Minimum wage is meant for the high school student or maybe the college student trying to make some extra $$ to pay living expenses. It was never meant to be a lifetime pay rate for a career at McDonalds. At some point people should realize that they need to acquire a skill set that would enhance their pay beyond the minimum wage range. It's called hard work, setting goals in life. We really need to stop feeding into this entitled attitude that I just deserve to increase my pay by 50% because I deserve it and am too lazy to acquire an adequate career.
 
Paris said:
aquabliss said:
eyephone said:
California leglistators almost finalize a deal to increase the minimum wage to $15. If the deal passes, this will remove it from the ballot box in November.
Click to expand...


50% salary increase for minimum wage workers.  And how about those currently making $14.75/hr since they have a higher skillset than their $10/hr counterparts.  I bet they will only see a .25c/hr increase.

This will kill a lot of small business owners, particularly those in the restaurant industry.  Get ready for $9 fast food hamburgers and $5 large fries.  McDonalds large fries are already $3....
Click to expand...

We own small businesses and you can bet we'll be hiking up prices to cover the overhead of this minimum wage increase. And so will every other business out there. So people better be prepared over the next few years to see their cost of living rise higher at a fairly rapid pace. And as business owners any additional businesses we would open would not be in California. So California better be prepared to see some of these businesses move out of their state = job loss. These are the benefits of a socialist movement. Feel the Bern...
Minimum wage is meant for the high school student or maybe the college student trying to make some extra $$ to pay living expenses. It was never meant to be a lifetime pay rate for a career at McDonalds. At some point people should realize that they need to acquire a skill set that would enhance their pay beyond the minimum wage range. It's called hard work, setting goals in life. We really need to stop feeding into this entitled attitude that I just deserve to increase my pay by 50% because I deserve it and am too lazy to acquire an adequate career.
Click to expand...

That seems like a really simplistic viewpoint.  At some point, somebody will need to do the low end jobs.  You may consider a $15 minimum wage to be too high but what you consider to be a "reasonable" minimum wage is probably too high for someone else's business.  A state like California cannot pander to the lowest denominator, just like the US cannot compete with Vietnam or China for lower labor cost. 

I know it sucks for the rest of us but we should be okay to pay a little more overall to make sure the lowest end of the employment range get a living wage and who need the money a lot more than most others.  Not everyone is cut out to be a college grad or a white color worker.  We are willing to pay an extra "resort fee" for Wifi and daily newspaper but not a little more to raise the living standards of others?

Higher minimum wages also increases worker happiness and worker productivity while reducing worker turnover.  It also increases the incentives for someone who could not otherwise afford to work to get a job.

As for job loss, most of the jobs impacted by the minimum wage increase are localized jobs.  That is jobs that cannot be relocated to others states (i.e. waiters, servers, sales clerks, etc.).  You can make an automation argument but honestly, that was happening regardless of the minimum wage.

The effects of minimum wage on jobs is tricky...some say its a jobs killer, other say that it has no effect.  Also, statewide minimum wage increases are better than city wide minimum wage increases as you can't just move out to the city limits.
http://www.pbs.org/newshour/making-sense/undisputed-facts-minimum-wage/

 
aquabliss said:
50% salary increase for minimum wage workers.  And how about those currently making $14.75/hr since they have a higher skillset than their $10/hr counterparts.  I bet they will only see a .25c/hr increase.

This will kill a lot of small business owners, particularly those in the restaurant industry.  Get ready for $9 fast food hamburgers and $5 large fries.  McDonalds large fries are already $3....
Click to expand...

Is that bad?

Seriously, do we need to propagate fast food or even restaurant food with unsustainable low labor for our area's cost of living?

 
I still think the market should set the price.

Is there a minimum home price? A minimum car price?

I understand the social aspects of setting a minimum wage, but economically, the minimum wage will set itself depending on the job.

Plus, does minimum wage affect all those under the table jobs or cash wages?
 
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