Posted on 12/31/2018 5:47:44 AM PST by Olog-hai
At Granny Shaffer’s restaurant in Joplin, Missouri, owner Mike Wiggins is reprinting the menus to reflect the 5¢, 10¢ or 20¢ added to each item.
A two-egg breakfast will cost an extra dime, at $7.39. The price of a three-piece fried chicken dinner will go up 20¢, to $8.78. The reason: Missouri’s minimum wage is rising.
Wiggins said the price hikes are necessary to help offset an estimated $10,000 to $12,000 in additional annual pay to his staff as a result of a new minimum wage law taking effect Tuesday. […]
New minimum wage requirements will take effect in 20 states and nearly two dozen cities around the start of the new year, affecting millions of workers. The state wage hikes range from an extra nickel per hour in Alaska to a $1-an-hour bump in Maine, Massachusetts and for California employers with more than 25 workers. […]
A series of studies by the University of Washington has produced evolving conclusions. In May, the researchers determined that Seattle’s initial increase to $11 an hour had an insignificant effect on employment but that the hike to $13 an hour resulted in “a large drop in employment.” They said the higher minimum wage led to a 6.9 percent decline in the hours worked for those earning under $19 an hour, resulting in a net reduction in paychecks. …
(Excerpt) Read more at apnews.com ...
In order to raise wages services and products prices must go up. In other words no real change in buying power.
Time to raise the minimum wage again !
No gain in buy-in power this time. Better do it again. Results will be different next time.
Need I add a /s ?
And a trend towards degradation of purchasing power too.
Possibly less buying power if a higher percentage of wages get taxed.
Well, that’s the leftist definition of sanity, to do the same thing over and over and prophesy different results each time.
The process is called wage inflation.
The minimum wage inflation escapes to the general population where prices rise to make business profitable and then the relative desparity between the capable and those less capable resumes. That is, the relative inequality returns to the mean.
Adjacent states without the disparity inflation will profit
You talk about the erosion of buying power;....- Look no further than the price of the family 4 door sedan.
But, but, thats not fair!, the rich lazy racist corporate
Trump loving old white guy who owns the place
Is supposed to fork over his excess profits!
At that wage, it might mean doubling up, living in an apartment in an older house and taking public transportation and walking/biking. It's doable.
Near here, the county runs a dollar store that only hires those with serious and very apparent mental and physical disabilities. They do just fine. People should be given the opportunity for a job, not handouts, when in need. If it means spending a little more on fast food, it's worth it.
(I know this is an outlier view on FR. Flame away!)
That's why the minimum wage should be raised to $15 $20/hour.
Living wage or something.
I believe they are putting the cart before the horse; with the low wages for low-skilled jobs, few people saw it as worthwhile to get out of bed in the morning (because prices were already rising - anyone who buys groceries could see prices rise while packages shrank).
I believe a primary driver of the increased wages (especially mandated minimum wages) is to force more companies, through their employees’ paychecks, to contribute more Social Security funds. Federal income taxes may not rise, but there is no refund of SS contributions.
See # 13; the increased Medicare and SS funds taken from those higher paychecks don’t get refunded every year...
WTF is the government business to dictate what private businesses have to pay ????
Open your government business and pay employees $50!
Minimum wage increases = Higher prices + More lay offs
Bring higher wages down bring lower wages up gets flat pay scale Karl Marx smiles
A lie. He is wallowing in cash and this capitalist can afford easily to give his poor, oppressed workers the pittance they have been granted by the state. Note: Gays, women of color and children affected most.
Is short. The only ones who win with wage increases are the taxmen.
Yes, implement e-Verify for all temp or perm, full or part-time workers. Make it a felony for any company to hire an individual without checking e-Verify. Also need to direct IRS and others to share and act on information that suggests an illegal alien using false identification.
BTW, I'm bothered that 8 million reported gun purchase attempts in 2018 involved illegal aliens with no apparent follow-up, law enforcement action, arrests, jail, or deportations.
What is the point of laws if they are not enforced?
The Medicare and SS taxmen to be specific; no “Earned Income Credit” or annual refunds on those...
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