Minimum Wage Oprah
Waaahhh there is no living wage...
Waaahhhh they can't afford to do anything...
Waaahhh CEOs make $13,000 more per hour...
OPRAH'S EMPTY HEADED WHINE
Get a grip.
First, where does the money come from to pay workers? Trees? The hole in the floor with the timelock on it? No, it comes from the profits made on selling goods and services.
What happens if the cost of providing the goods and services go up? Does the provider graciously eat soup and absorb the difference or does he increase prices to maintain his profit margin?
Let's look at a single mom. She makes $5.15 per hour. She takes her kid for a happy meal at McDonald's once per week as a treat. That happy meal costs her $2.99 until the new increase in minimum wage hits. Her local McDonald's franchise operator has to pay $6.15 per hour under a new law so they increase the price on that happy meal to $3.50 to cover the costs. Take the same increase and spread it across clothing and grocery costs. Where did her increased minimum wage benefit go if prices aren't static?
I'll tell you exactly where the benefit went: to the local union hourly employee. Labor's contracts are based on "minimum wage +" calculations. Those same expenses that drive up the costs of manufacturing that have driven the jobs to countries with a lower wage structure. Those same lower wage structures that provide goods that the minimum wage person chooses to buy instead of a similar item made by an American making "minimum wage +"?
What happens if there is no minimum wage? Well, good question. Right now there is a convenience store advertising $10 per hour starting pay outside my office. Why does my local Mapco gas station pay $10? Because people won't work there for less money (the minimum wage). They go elsewhere to work for the money they can earn for their services not for the amount the 'govmint forces someone to pay.
The TRUTH is that people earn exactly as much money as they are willing to work for or how much the market will pay them.
The TRUTH is that the same people who gripe about minimum wage have neither a concept of economics or an understanding that their own drive to increase minimum wage is putting Americans out of work.
The TRUTH is that if companies don't offer enough money for the job, people won't work there.
Think about that the next time you buy a pair of jeans or sneakers made in China because the quality is good for a cheap price.
Back to the single mom: why doesn't she look for work elsewhere? If she isn't happy with the money she is making, go somewhere else and apply!
As for the CEO: think of them like professional golfers. 99% of the good golfers who try cannot qualify for the PGA, my nephew missed by 1 stroke so that puts him in the 98%. Not good enough. Should everyone be paid like Tiger Woods? Maybe everyone should make as much money as Oprah? Of course not! Why? BECAUSE THEY AREN'T SKILLED TO DO THE JOB!
Why are people so stupidly short sighted on this? If you are going to do a minimum wage, go ahead and make it $100 per hour. Might as well make it a good wage if you bother to do it at all.
Waaahhhh they can't afford to do anything...
Waaahhh CEOs make $13,000 more per hour...
OPRAH'S EMPTY HEADED WHINE
Get a grip.
First, where does the money come from to pay workers? Trees? The hole in the floor with the timelock on it? No, it comes from the profits made on selling goods and services.
What happens if the cost of providing the goods and services go up? Does the provider graciously eat soup and absorb the difference or does he increase prices to maintain his profit margin?
Let's look at a single mom. She makes $5.15 per hour. She takes her kid for a happy meal at McDonald's once per week as a treat. That happy meal costs her $2.99 until the new increase in minimum wage hits. Her local McDonald's franchise operator has to pay $6.15 per hour under a new law so they increase the price on that happy meal to $3.50 to cover the costs. Take the same increase and spread it across clothing and grocery costs. Where did her increased minimum wage benefit go if prices aren't static?
I'll tell you exactly where the benefit went: to the local union hourly employee. Labor's contracts are based on "minimum wage +" calculations. Those same expenses that drive up the costs of manufacturing that have driven the jobs to countries with a lower wage structure. Those same lower wage structures that provide goods that the minimum wage person chooses to buy instead of a similar item made by an American making "minimum wage +"?
What happens if there is no minimum wage? Well, good question. Right now there is a convenience store advertising $10 per hour starting pay outside my office. Why does my local Mapco gas station pay $10? Because people won't work there for less money (the minimum wage). They go elsewhere to work for the money they can earn for their services not for the amount the 'govmint forces someone to pay.
The TRUTH is that people earn exactly as much money as they are willing to work for or how much the market will pay them.
The TRUTH is that the same people who gripe about minimum wage have neither a concept of economics or an understanding that their own drive to increase minimum wage is putting Americans out of work.
The TRUTH is that if companies don't offer enough money for the job, people won't work there.
Think about that the next time you buy a pair of jeans or sneakers made in China because the quality is good for a cheap price.
Back to the single mom: why doesn't she look for work elsewhere? If she isn't happy with the money she is making, go somewhere else and apply!
As for the CEO: think of them like professional golfers. 99% of the good golfers who try cannot qualify for the PGA, my nephew missed by 1 stroke so that puts him in the 98%. Not good enough. Should everyone be paid like Tiger Woods? Maybe everyone should make as much money as Oprah? Of course not! Why? BECAUSE THEY AREN'T SKILLED TO DO THE JOB!
Why are people so stupidly short sighted on this? If you are going to do a minimum wage, go ahead and make it $100 per hour. Might as well make it a good wage if you bother to do it at all.
posted by Possum at 08:12
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