A reckless wager

Still waiting for you to tell us what an acceptable minimum wage would be.

 

You first. What is an acceptable minimum wage ? Not for me, but for everyone else

 

Based on the title I thought that this would be about the reckless wager called Obamacare. :laugh:

And I too would like to know what CBT thinks that the minimum wage should be.

Higher? How much higher? And how does CBT come to that amount?

 

I don't really think he cares. I wrote what would happen to America's special needs folks if the minimum wage goes to what Seattle and New York think they should be.

Funny how CTBoy argues ambiguous terms and will not get specific about it. I'm glad our savior wasn't so lazy. Social Justice Warriors only care about the illusion of caring.

 

The US full time median wage is around $55,000. Therefore, according to the article, at below 50% of this number would be south of $13.25 per hour. So let's say $12.75 per hour.

The current federal minimum wage is $7.25 (though some states have set it higher.) If it were to be set at $12.75 that would be a 76% increase.

Wages comprise about 20% of expenses for most fast food businesses that employ minimum wage workers. Owners of these businesses would pass along these costs to the consumer.

A quick and dirty calculation shows that a $10 pizza would cost $11.52 if the minimum wage were to increase to $12.75.

Service businesses that spend more than 20% on wages would hike prices even more. This increase would be devastating to manufacturing companies that employ assemblers at minimum wage.

 

It will also devastate the human services field. I shudder to think of what will happen to those folks who need daily care.

Liberals have always been short-sighted.

 

Yes, these are the ultimate service businesses and they would be especially hard hit.

 

Ironically, a rise in the minimum wage would hurt the purchasing power of people that are earning the minimum wage. They likely would cut back on "luxuries" like going to McDonald's because prices would rise. The price of groceries would rise since most stores employ a good number of minimum wage workers (cashiers, baggers, stockers, etc.)

 

Personally, I think that a tax cut would help the poor more than an increase in minimum wages. Of course, the lower class no longer pays a penny to help the country so it would have to be a tax cut of corporate taxes so that corporations could give a raise to their employees instead of paying so much money to a corrupt Washington DC.

 

I would agree 100%.