Archived material Access restricted Article
Rantburg

Today's Front Page   View All of Fri 10/23/2020 View Thu 10/22/2020 View Wed 10/21/2020 View Tue 10/20/2020 View Mon 10/19/2020 View Sun 10/18/2020 View Sat 10/17/2020
1
2020-10-23 Economy
Biden: $15 Minimum Wage Will ‘Bail Out' Small Businesses
Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.
Posted by Besoeker 2020-10-23 04:53|| E-Mail|| Front Page|| [6502 views ]  Top

#1 A BIDENISM

What is a BIDENISM?
Something so damn stupid that a 6th grader knows better.
Example Given: A minimum $15 p/hr is needed to needed to "bail out" small businesses."


In my state of GA. $5.15 p/hr.
That is a 191.26% increase.

Also those making between $7+ ALREADY, will demand an increase equal to the Percentage of Min-Wage to $15 p/hr.

All it does is increase the prices, cause a reduction in force, Wildfire INFLATION, which devalues the US $.
Posted by NN2N1 2020-10-23 07:08||   2020-10-23 07:08|| Front Page Top

#2 No... it will sink them. Most small business owners are middle class. A huge minimum wage increase hurts them and the middle class and then the lower class.

First thing to go up, costs. Small business owners will raise their rates before the wage increase to build up capital to cover it. Poor and middle class hurt.

Wages go up for the lower class. They are now just where they were before because everything costs more. The wage increase will not hit the middle class for several years. They have the same income, but things cost way more.

That will put a lot of small business owners out of business. They have a hard time living on their salary and fewer customers. Lay off lower class. Wal-Mart and Amazon get richer.
Posted by DarthVader 2020-10-23 08:47||   2020-10-23 08:47|| Front Page Top

#3 The federal minimum wage is $7.25, so everybody except wait staff (and other tipped employees, plus some handicapped employees and under 18 employees) should be making that. Here in Michigan it is $9.65, and increasing by about 40 cents a year, under the theory that it should match inflation.

I wish I could say this is the most destructive proposal Biden made last night, but banning fracking and a months-long lockdown would both be even worse...
Posted by Vernal Hatrick 2020-10-23 09:00||   2020-10-23 09:00|| Front Page Top

#4 Inflation doesn't happen in Biden's Fantasy World when you double wages...
Posted by magpie 2020-10-23 09:56||   2020-10-23 09:56|| Front Page Top

#5 Amazing the rubbish about how a minimum wage (at ANY rate) is good. It is one cause of even more unemployment, even if people were willing to work for less (as it's "the law").

The automated kiosks at fast-food establishments are no accident.

The origins of the minimum wage were, ironically, established to shut blacks out of the labor force who were willing to work for less money.

But the last paragraph of B's post is spot on. If you want more unemployed Americans, just keep raising the minimum wage.
Posted by Clem 2020-10-23 10:25||   2020-10-23 10:25|| Front Page Top

#6 "You can't raise a family of four on less than $15/hr"

NO SHIT. If you're trying to raise a family of four, you shouldn't be making minimum wage, loser
Posted by Frank G 2020-10-23 10:31||   2020-10-23 10:31|| Front Page Top

#7 Also robotic and automated systems start becoming affordable at $15/h too. As Clem stated, not only do we have those kiosks (which I prefer), you will have a robot doing the burger flipping and assembling your food.
Posted by DarthVader 2020-10-23 10:57||   2020-10-23 10:57|| Front Page Top

#8 And watch everyone but Big Router fold.

The only people being hired would be the overqualified. 1st and 2nd jobs would disappear.

If at all, at a state level. New York is not New Mexico.

Every service not located on an Interstate, gone.

Of course, maybe that is the point.
Posted by swksvolFF 2020-10-23 12:09||   2020-10-23 12:09|| Front Page Top

#9 A better plan would be for Joe and Jill to adopt everyone in the country. That way Burisma would have to pay us all $183,000 a month.
Posted by Matt 2020-10-23 12:59||   2020-10-23 12:59|| Front Page Top

#10 Inflation doesn't happen in Biden's Fantasy World when you double wages

Biden and his ilk just don't understand economics, that's all. It's not really 'inflation', more like massive raw cost increases. If you increase wages by a sizable amount, then the cost of any raw materials from the US would increase proportionately, due to compounded manufacturing/procurement/handling/shipping costs, etc. (i.e. increased cost of cheese/sauce/flour for a pizza that used to sell for $12 and is now $16 because everyone upstream got a big raise).

We'd have to go back to buying these materials from China or Mexico, and maybe that's been the plan all along.

Well, that and the vast numbers of newly unemployed living at the government's discretion.
Posted by Mullah Richard 2020-10-23 13:45||   2020-10-23 13:45|| Front Page Top

#11 Why only $15/hour? That's only $30,000/year. Starvation wages.
Why not make the minimum wage $50/hour, so everyone makes $100K/year?
Yes, I am being sarcastic.
Posted by Rambler in Virginia 2020-10-23 14:38||   2020-10-23 14:38|| Front Page Top

#12 /\ Make everyone a daily millionaire and eliminate Poverty: 125,000 US$ hourly!
Posted by magpie 2020-10-23 15:38||   2020-10-23 15:38|| Front Page Top

#13 #9 Matt--please, please, please join the
Biden campaign and convince him. I could really use the money!
Posted by Tom 2020-10-23 16:47||   2020-10-23 16:47|| Front Page Top

#14 People can take some hints from the UAW and other organized labor unions; namely, price themselves right out of a job. Not related to the min. wage, but the principle is the same.
Posted by Clem 2020-10-23 17:08||   2020-10-23 17:08|| Front Page Top

#15 They'll be bailing out, all right.

And the real minimum wage is zero.
Posted by KBK 2020-10-23 18:31||   2020-10-23 18:31|| Front Page Top

#16 Yup, unfortunately there is the funemployment/staycation is a thing.
Posted by swksvolFF 2020-10-23 21:59||   2020-10-23 21:59|| Front Page Top

23:59 Bob Borgia1840
23:44 gorb
23:37 gorb
23:29 Anomalous Sources
23:07 Skidmark
22:05 swksvolFF
22:03 Whomomble Ghibelline2674
21:59 swksvolFF
21:51 swksvolFF
21:44 swksvolFF
20:58 Frank G
20:50 Mad Eye Angonter1301
20:29 Frank G
20:27 Frank G
20:25 charger
20:16 Theager Borgia1057
20:14 Theager Borgia1057
20:09 Theager Borgia1057
20:03 Alaska Paul
20:02 Alaska Paul
20:01 Grunter
19:25 Alaska Paul
19:16 Alaska Paul
18:52 g(r)omgoru PB
Merry-Go-Blog










Paypal:
Google
Search WWW Search rantburg.com