Posted on 09/07/2022 1:24:26 AM PDT by imardmd1
Historic levels of labor costs and labor shortage at a time when automation is easier and more cost effective then at any time in history. McDonalds has had a very sophisticated automation option for quite some time. They are aggressively phasing in and implementing the critical infrastructure components of that strategy under the radar screen as we speak. The artificial, Biden induced labor shortages are killing our economy
Odds are Democrats are going to get their Universal Basic Wage and Americans are going to get screwed - assuming the entire system does not collapse.
Math was never your strong point was it?
I am an engineer. I also studied history and economics. This is not the 1970s. The economy of the 70s was totally different than today.
I think it was Steve Hilton on Fox News last Sunday had a graph that showed that disposable income for the bottom three quintiles in the U.S. was about the same. A person on welfare enjoys just about the same lifestyle as a person making $42,000 / year, which is about $16/Hr. Why work when indolence pays the same.
Maybe three years to reach a $20 hamburger from McDonalds?
So your saying the handouts are too generous?
I can agree with this.
However I do think the min wage has not kept up with inflation. I think there are plenty of stats that back it up.
So what do we do?
perhaps cut back the handouts (stick) and make some sort of periodic adjustment of min wage to inflation (carrot)?
Or take the easy way and let people in legally who want to work?
I think that is very true!
How NYS, per NYS, does it now...
*Annual increases for the rest of the state will continue until the rate reaches $15 minimum wage (and $10 tipped wage). Starting 2021, the annual increases will be published by the Commissioner of Labor on or before October 1. They will be based on percentage increases determined by the Director of the Division of Budget, based on economic indices, including the Consumer Price Index.
If folks thought NYS was an economic wasteland before...
The government should not have the authority and does not have the mentality to tell me what a floor sweeper is worth to me or my company. Why do you think they should or do have either of these skills or abilities??
Besides, $15 p/h in New York may seem like a drop in the bucket, but while you’re at it, you’re forcing the Dairy King restaurant in Gorman, Texas to pay the same labor prices, which is a King’s ransom in that part of the world.
This will hasten the dollars demise. Once minimum wage goes up it never goes down. This is all to placate the unions for the next election since their rates are linked to minimum wage.
No reason min wage cant be regional based.
Well like it or not, min wage is not going away. Politics is the art of doing what can be done.
This is the government taking over one more aspect of the supposedly “free” market economy that we think we have. The ultimate goal is total control, with all the means of production in the hands of the government.
And leadership is the art of doing what everyone says can't be done.
Well then please do tell who is our champion leader to get rid of the min wage? Aint Trump!
LMAO
Should read... Bill will ensure high inflation is permanent by tying minimum wage to inflation.
raising wages causes inflation to rise, which will cause inflation to rise further causing another raise, continue, repeat.
IIRC Trump opposes a federally set minimum wage.
wages affect prices at every step, not just the last one. If you don’t think labor costs have much of an effect on business, then you have obviously never owned a business.
there shouldn’t have even been a minimum wage, to begin with. So... we shouldn’t “do” anything.
yep, it ripples upwards driving ALL wages up, which inserts more money into economy which is what drives up inflation
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