Jerry Brown signs $15 minimum wage in California

if your going to bring free market into this then remove illegals and H1b visa people from the wage pool.

The main weakness of capitalism is that eventually it will pay its workers too little to become its customers.

 

Only 4% of the hourly worker force makes at most the minimum wage. Why are people raising a family on minimum wage? That's stupid and irresponsible.

 

This is ridiculous, and faux progressive. If they really cared about working people, they would tie wages to the cost of living in each county. Nobody would be underpaid, nobody would be overpaid. This would also give businesses a real incentive to keep the cost of housing down, and would halt gentrification projects.

 

Please explain to me how a company will pay people less so said people can't buy the companies products.....therefore putting the company out of business. Companies want to stay in business and make money. They need people to buy their products to make this money. Deduction......they must pay the people enough to by the products.

 

Will lead to more automated checkouts, including restaurants.

 

Oh admit it, as the value of the minimum wage has decreased in a way the since the 90s. The Value of the minimum wage was actually higher when it was the 50s, 60s and 70s. Im sure there are posters from then that will vouch things were better, but have no concept of inflation or the dollar having an ever changing and always devaluing effect; its just i made this then which is less of a dollar amount so whats the problem

 

The increase in minimum wage will affect millions of public employees which will further burden the taxpayers, but you don't care about that. Take your hypocrisy and go sell your BS to progressives.

State employees, like teachers whose pay is tied into the minimum wage, will have huge increases. Teachers in a school district getting $20.00 per hour will end up with $30.00 per hour. The increase in public sector pay will cost taxpayers billions.
http://www.newsbusters.org/blogs/nb...inimum-wage-law-gives-thousands-public-sector

 

The huge disparity in the "income inequality" issue is the lack of knowledge on the side of those in favor of it. Every employer was once a beginning employee; he probably has substantial experience in that position. But very few employees have been employers, business owners- and have no idea what that entails. They want to believe it is as they perceive it, in a way that supports the position that wage is just arbitrarily low due to greedy business.

Business runs on a financial formula. Costs (Labor, materials, Overhead) plus profit determine the price of goods they sell. Profit is the objective here- if they don't make it, they fail and close, taking jobs and benefits with it. The profit is the paycheck of owners and investors, and they have absolutely no guarantee or safety net. Profit is held in check by competition- get out of line and your sales drop and you start losing money. Yet employees often talk about business as some sort of a miracle cow put here to provide their needs, a cow from which you can get milk and hamburger and the same time, with no need to feed it. Fantasy, and ignorance.

Minimum wage technically applies to about 4% of workers, right? Yes- legally. And when the semi-skilled worker making $15 sees the unskilled worker being raised to his wage, what does he do? He demands $20, because it is fair. The skilled worker who was making $20 raises his demands too, and it rolls over the whole wage table like a wave. The cost of everything goes up, and so the cost of the product or service the company provides go up, so the cost of living goes up, and the person who thinks he is owed a living wage whether he earns is or not demands more money. Deja Vu....

 

California clearly has no need for unskilled labor.

 

Or they could risk telling those workers slightly above minimum wage that their skill value is not worth what it used to be and to go try the similar business down the street who will also not raise wages across the board. If the industry sets a wage standard you just kinda have to live with it unless you are in a booming business with skills that allow you to quit and find another job before you run out of savings. No other positions, you get what they give you.

 

Was it Ross that said that sucking sound will be the jobs leaving the USA ? Ireland's corporate tax rate of 12.5% has attracted over 1000 US businesses in the past year . California keep smoking that weed !

 

Actually, it is the business who has to be competitive and has to settle for what customers are willing to pay. Nobody is asking for a guaranteed minimum price on my products- and there are hundreds of competitors who would be happy to beat my price and steal my customers if they could. Business is constrained by competition, and there are no protections from that. No business unions, where if you don't buy my product I put a picket in front of your house and nobody will sell you anything. If you are in business, you are on your own- and you had better be good or you will be belly up in no time. About half of all new businesses wind up that way within a few years, because it soooo easy.

Industry needs workmen as much as the workmen need jobs- but it needs people who really are there to help the company succeed, not people who are trying to do as little as possible until quitting time. They will fight to keep those who really do help them succeed, and they will pay them well. But who wants to hire someone who hates their job or their employer, or who thinks they are a slave because they are expected to do the work the agreed to do for the price they agreed to do it at?

Anyone who thinks they are worth more is free to offer their skills to anyone in the world who agrees with the price they want. Anyone who thinks that their employer is making all the money while they do all the work, is missing a huge opportunity. They should just go into the business for themselves and get rich quick. If it's so easy and lucrative, why not do it now?

 

Well a couple things:

* what is the target for a minimum wage policy? You could argue that if it's only 4% (and the 96% get more) then the minimum wage is either too low, or only concentrated in specific industries, or both (and for what reason?). Which is it?

* 4% is close to, but lower than, unemployment. If 4% is your workforce at the minimum entry for wages, but 5% is your unemployment, Then you have a 1% gap of incentives there where unemployment benefits are more beneficial than working for minimum wage. So in that sense maybe that 1% of mobility means the minimum wage is priced correctly, at least in national policy.

* There are no "free markets". All markets are regulation, and subject by legislators and the rules of those who influence them. There are always controls on winners and losers.

* I think the discussion and data about minimum wage is really shallow. It goes the first step in asking "will this raise living standard or lose jobs?" But it never goes to the 2nd, 3rd, 4th, and 5th step. That is due to aquiring and interpreting data sets, and just lazy ideological thinking.

 

The cost, as it is always, will be passed on to the consumer. Leftists manipulating the economy will have the usual disastrous results!