CA's 20 Dollar Minimum wage already killing jobs and shuttering companies.

[PortaJohn]

This whole conversation is moot.  AGI is just around the corner which will quickly be followed by ASI.  At that point we'll all be out of a job and for those of us that survive the civil unrest that follows we'll eventually be able to enjoy UBI. 

[ionel]

53 minutes ago, Husker_Du said:

i'd pay @WrestlingRasta at least $22/hr to make me a steak 

I'd pay him $24 you are sol. 

[ThreePointTakedown]

12 hours ago, headshuck said:

If we pay $20 per hour to every person involved in the making of a Big Mac, the full supply chain, grain farmers, flour producers, bakers, livestock farmers, meat producers, vegetable farmers for lettuce tomatoes, sauces, transportation of ingredients, packaging of the final product…how much would it cost?

There are dozens of worker classes involved in the making of a “Big Mac” that must be furious at the liberal disruption of the chain at the retail labor end point.

“Oh but those big corporation billionaires!”

Great question. 

One option, offer people a minimum wage (other industries use the minimum wage too) high enough to afford the rising cost of living. 

Another, enact measures to control the cost of living and keep it reasonable for the poorest or for everyone so we don't feel the 'reverse racist-ed' of having a roof over our heads. 

A thought experiment, if these are the only options, which would you prefer? (don't say, 'neither' just to not answer. Its a hypothetical, you're not committing to anything)

Are there other options and what are or could they be? 

[WrestlingRasta]

@Husker_Du @ionel  Neither one of you can afford me...

[Ohio Elite]

10 hours ago, PortaJohn said:

those of us that survive the civil unrest that follows we'll eventually be able to enjoy UBI. 

I'll be there...  will you??

[mspart]

6 hours ago, ThreePointTakedown said:

Great question. 

One option, offer people a minimum wage (other industries use the minimum wage too) high enough to afford the rising cost of living.    Miniumum wage is not a living wage and was not meant to be.   Period. 

Another, enact measures to control the cost of living and keep it reasonable for the poorest or for everyone so we don't feel the 'reverse racist-ed' of having a roof over our heads.  If we keep raising wages, then prices will go up necessarily.   You can't have one without the other.   Of course this will all be the fault of the business owner who is going out of business because he can't sell $20 hamburgers.  

A thought experiment, if these are the only options, which would you prefer? (don't say, 'neither' just to not answer. Its a hypothetical, you're not committing to anything)

Are there other options and what are or could they be? 

If people are willing to pay higher prices for their fast food etc, then so be it.    If not, then those business owners lose their business and wonder of all wonders, the workers lose their jobs.   Now they make $0/hour. 

mspart

[WrestlingRasta]

10 minutes ago, mspart said:

If people are willing to pay higher prices for their fast food etc, then so be it.    If not, then those business owners lose their business and wonder of all wonders, the workers lose their jobs.   Now they make $0/hour. 

mspart

$0/hr with experience and skills in burger flippin.  Lots of options.  Looooooots of options. 

[Offthemat]

13 minutes ago, WrestlingRasta said:

$0/hr with experience and skills in burger flippin.  Lots of options.  Looooooots of options. 

$20 an hour is going to cost the employer maybe $60k per year.  Can he cover his costs?

[WrestlingRasta]

3 minutes ago, Offthemat said:

$20 an hour is going to cost the employer maybe $60k per year.  Can he cover his costs?

I'm not on the side of $20/hr

[braves121]

If minimum wage was not designed to be lived on what was its purpose? @mspart

[PortaJohn]

8 hours ago, Ohio Elite said:

I'll be there...  will you??

My future self on the right

Edited April 23 by PortaJohn

[Ohio Elite]

13 minutes ago, PortaJohn said:

My future self on the right

I'll see you there...

[PortaJohn]

12 minutes ago, Ohio Elite said:

I'll see you there...

Don't visit this part of the intermat forum often but I'm surprised I couldn't find anything on AI.  @ThreePointTakedown, @Husker_Du, @JimmyBT etc etc in the near future the concept of minimum wage won't exist.  The concept of a wage will cease to exist.  Our brightest minds at the moment  don't even have a concept of any economic structure/model for the eventual takeover of ASI (which will happen sooner than you think).  ASI is a far more pressing issue 

Edited April 23 by PortaJohn

[JimmyBT]

2 hours ago, PortaJohn said:

Don't visit this part of the intermat forum often but I'm surprised I couldn't find anything on AI.  @ThreePointTakedown, @Husker_Du, @JimmyBT etc etc in the near future the concept of minimum wage won't exist.  The concept of a wage will cease to exist.  Our brightest minds at the moment  don't even have a concept of any economic structure/model for the eventual takeover of ASI (which will happen sooner than you think).  ASI is a far more pressing issue 

What is sooner than I think?

[ThreePointTakedown]

19 hours ago, mspart said:

If people are willing to pay higher prices for their fast food etc, then so be it.    If not, then those business owners lose their business and wonder of all wonders, the workers lose their jobs.   Now they make $0/hour. 

mspart

interesting phrasing. How do you define 'willing'? 

[ThreePointTakedown]

17 hours ago, braves121 said:

If minimum wage was not designed to be lived on what was its purpose? @mspart

That also needs to be proved that it did not have that intention. 

[Husker_Du]

On 4/23/2024 at 5:36 AM, ThreePointTakedown said:

 

One option, offer people a minimum wage (other industries use the minimum wage too) high enough to afford the rising cost of living. 

higher minimum wage cause inflation which causes 'rising cost of living'

On 4/23/2024 at 5:36 AM, ThreePointTakedown said:

Another, enact measures to control the cost of living and keep it reasonable for the poorest or for everyone so we don't feel the 'reverse racist-ed' of having a roof over our heads. 

The Biden admin has done wonders in that department.

[ThreePointTakedown]

33 minutes ago, Husker_Du said:

higher minimum wage cause inflation which causes 'rising cost of living'

The Biden admin has done wonders in that department.

What has the current administration done? 

[Husker_Du]

you know that Biden is the current president right?

and you know that inflation is through the roof, right?

if the answer to those are 'yes,' i don't understand your question/confusion.

[ThreePointTakedown]

8 hours ago, Husker_Du said:

you know that Biden is the current president right?

and you know that inflation is through the roof, right?

if the answer to those are 'yes,' i don't understand your question/confusion.

What is the current inflation rate? 

I have it at 3.5%, down considerably from previous years.

Also, inflation isn't like putting a hammer to a nail. What influences inflation are things that happen, sometimes years before the rate actually spikes. 

You still have not made your point or provided evidence to support an opinion. Just saying two things, one of which is open to interpretation, does not a point make. 

[Scouts Honor]

not sure where to post this

 

[Offthemat]

2 hours ago, ThreePointTakedown said:

What is the current inflation rate? 

I have it at 3.5%, down considerably from previous years.

Also, inflation isn't like putting a hammer to a nail. What influences inflation are things that happen, sometimes years before the rate actually spikes. 

You still have not made your point or provided evidence to support an opinion. Just saying two things, one of which is open to interpretation, does not a point make. 

Larry Summers recently explained that if inflation was still calculated the same way it was in the ‘70s, it would be double what is reported. 

[Husker_Du]

3 hours ago, ThreePointTakedown said:

What is the current inflation rate? 

I have it at 3.5%, down considerably from previous years.

Also, inflation isn't like putting a hammer to a nail. What influences inflation are things that happen, sometimes years before the rate actually spikes. 

You still have not made your point or provided evidence to support an opinion. Just saying two things, one of which is open to interpretation, does not a point make. 

i almost included in my previous post '...and please don't use those current inflation numbers that remove housing, transportation, and food'

but i didn't think anyone would.

silly me. 

[Offthemat]

1 hour ago, Husker_Du said:

i almost included in my previous post '...and please don't use those current inflation numbers that remove housing, transportation, and food'

but i didn't think anyone would.

silly me. 

One of the differences Summers pointed out in the inflation calculation is that in the ‘70s and ‘80s was that they included the interest on house and auto payments, now they don’t.  Just like the job numbers, the GDP estimates, virtually everything the government puts out is smoke and mirrors. 

[braves121]

Do you guys really see inflation as solely a Biden administration problem? Is this administration the reason every other country is experiencing similar inflation?