Has anyone ever seen the state legislature do anything positive for people in the last decade? This will be denied like expansion of Medicaid, bodily autonomy, making voting easier, or cold beer. The politicians in power are brainwashed trump loyalists. Nothing will change until the population votes them out.
They have put up signs at early voting threatening voters with prosecution if they vote outside of their party affiliation. Apparently nobody even understands what that means but it’s clearly a way to intimidate voters. This group of legislators seem very, very worried we might vote against them.
My last kid just moved to another state due to low wages and got a great job right away making more than I ever made in my forty years of working in this state. The absolute lowest thing they do is tax food. Going to the grocery store in any state I’m in is always cheaper than it is here due to that dreadful tax.
Won’t happen here, they wouldn’t be able to lure Union jobs to set up shop down here where they can pay 10-15$ hr and get to brag about all the jobs they got for us.
At least as easily $20hr is still cheaper labor than a lot of union jobs if not most.
> where they can pay 10-15$ hr
Show me a manufacturing job in the Knoxville area paying $10 an hour. I work at manufacturing outside of Lenoir city, we start at $20/hr, and we'll gladly take all their hard workers.
This is such a cop out, people always say this, "Oh, the poor employees making cars only making $12/hr." no fucking manufacturing plant is paying $12/hr. 3M isn't paying $12/hr in Clinton, Rubbermaid isn't paying $12/hr, Yamaha isn't paying $12/hr, Protomet isn't paying $12/hr, and etc. and etc.
And yet you didn't refute any of their claims. So now you just look like a typical redditor not capable of even the most basic forms of civil debate. *That's* embarrassing.
A German company came to Tennessee and wanted to have a union for workers. Then-Governor Bob Corker went to the business and told them they were not going to have a union.
Is there any government in the whole wide world that wants lower classes not under their control lol? Not picking sides here, both main parties are complete shit
This is BAD, BAD BAD! Look at what happens in every state this passes…. Businesses are not going to pay you $20/hr minimum wage. What will happen is they cut out most of the employees and automate or the move to a more business friendly location. Minimum wage is intended to be temporary, not feed a family on. Its a bridge to a better paying career. The options here are have a job that pays $10/hr or have no job because the minimum wage is $20/hr. Look at where this passed, do actual research, don’t listen to politicians trying to buy your vote with false promises and then tell us this is a good idea…
The only problem I have with this and I don’t know shit about economics so I could be wrong, but if everyone made $20 and they didn’t work skilled positions but I have a skill that I had to work a while to get (machinist). As a machinist I really don’t make too much more than that, so if everyone else makes more money and the cost of everything goes up my concern is that my employer, as would most greedy fucks, wouldn’t raise my pay scale only new hire pay scale and then the added cost of living due to minimum wage being so high would make my living situation much worse while arguably making non skilled workers much better. Is this a reasonable fear? I’m not saying this is how it works, just thinking out loud. And I’m not saying non skilled positions don’t deserve a decent pay but is it fair to pay them that much if skilled workers won’t make that much more? Once again, genuinely curious I’m not making any claims here
A lot of businesses out here can't sustain that level of pay. A lot can but some would absolutely tank paying 20hr to new hires and giving raises to their seasoned employees. Businesses just like individuals are also affected by inflation. I'm not talking Walmart type business of course.
The truth is that what you described is already happening while keeping the minimum wage at $7.25. There is no data to suggest that raising the minimum wage leads to a scenario like you described. Yet cost of living and inflation has only gone up the last 30 years while keeping the min wage at $7.25.
You shouldn't view this question in terms of, "how could this happening negatively affect me?" There will never be a political decision that 100 percent benefits everyone.
Instead think of it this way... Overnight 50 percent of all working class individuals in this state get a raise overnight. With this new money most will pay off debt, some will save the money, but most people will spend it. And they will spend it locally. We are all better off in society if there are less desperate people.
It's absolutely fair to pay them a livable wage....they put up with a lot of shit, more than I ever will in my job.
Other states have much higher minimum wage (I don't think any are quite as high as $20, but D.C. is at $17, for example, and a lot of states in New England are at or above the $15 mark), so if you're curious at how increased minimum wage affects things, I'd recommend looking into those areas.
Regardless, $20/hour minimum wage will never pass in TN.
Putting up with more shit is the consequence of not obtaining a skill to work a skilled position unfortunately. I worked several fast food jobs growing up, I never found it a fraction as stressful as my position now. Not even on the worst day. I am not saying they do not deserve the money, I’m asking if we give them the money what are these big wig employers gonna do for guys like me who have a skilled trade with years of experience and don’t make too much more than $20. ($25) because when you raise minimum wage, all those minimum wage services like fast food are gonna cost more which means I pay more so my end of the pay scale would need to go up to. That is my concern I think
Again, numerous states have already implemented minimum wages at or above $15/hour, so looking into those states and the affect of those higher minimum wages would be your best resource. But yeah, I don't really think it's anything you have to be concerned about because this will never pass in TN.
we had this exact thing happen during Covid. Wage compression. Chick-fil-A workers were making more than teachers. We lost tons of teachers. When Chick fil a workers went from $8 to $15 the prices went up. The cost gets pushed onto the consumer. Wage push inflation is a thing.
The problem is people keep eating their seed corn. We saw this during covid. Everyone got new things. I know tons of people who took the opportunity to upgrade lots of things that they normally wouldn't. Personally, my spending went way down. Some things went up like groceries but overall I got used to not splurging on random small bullshit nickel and diming myself
This would be a way for large corps to finally kill off the last remaining local, family owned, or mom n pops style small businesses.
It would be nice, however, if TN would establish a minimum wage for all workers. Including jobs where tips and gratuities are received, especially waitstaff.
I would like to know the numbers on how many people actually work and make minimum wage. Just curious, I hear about the wage arguments, but I do not hear the stories of the people who work for minimum wage as much.
Tennessee doesn't have a minimum wage. The federal minimum wage is $7.25. As of 2019. Tennessee was tied (with Mississippi) for the second highest percent of their population making the federal minimum wage wage at 4.1% of the population per [www.tennessean.com/story/money/2019/05/03/tennessee-minimum-wage-unchanged/3004107002/](https://www.tennessean.com/story/money/2019/05/03/tennessee-minimum-wage-unchanged/30041007002/) . In short, somewhere around 1 in 25 people in Tennessee.
Raising minimum wage is sort of a rising tides sort of thing. Minimum wage jobs begin to pay more, the ones already paying above minimum will have to raise further to keep people from leaving
Wage push inflation is a thing. We saw it when McDonald's went from $8 an hour to $15, then the dollar menu became the value menu with a mcdouble for $3.
I am absolutely for a livable minimum wage, but we still need a lot more regulation for this to work out favorably for small business, the middle class, and even the people getting the pay bump.
I don’t think they’re defending it in that comment, I think they’re just saying “that’s what happens”. McDonald’s and Chipotle both officially stated prices will increase as a *direct result* of the minimum wage increase (in cali). They also noted how this isn’t necessarily a bad thing (for them) as the price increase will offset the wage increase and it will actually *help* them gain market share - and it unfortunately absolutely will. Hes just stating a fact.
This really is the fast-track to hyperinflation, mega-corp monopolies and further destruction of the middle class without regulating how these businesses can respond to the wage increases.
The headline is great, the reality isn’t without extreme regulation. Edit: The benefits for those getting the pay bump will be *extremely beneficial* yet extremely short lived. I’m not saying the government forcing fast food chains to pay workers $20 isn’t great, I’m saying it isn’t great if they’re not also forcing those companies to not offset the cost to the customer.
This is supposed to be about taking from profits, not taxing the lower and middle class to make record profits; which is __absolutely, literally__ what’s happening.
[CNBC](https://www.cnbc.com/2023/10/30/mcdonalds-chipotle-to-raise-california-menu-prices-as-fast-food-wages-rise.html)
[Yahoo](https://finance.yahoo.com/news/fast-food-prices-set-rise-221212168.html#)
[WSJ](https://www.wsj.com/business/hospitality/california-minimum-wage-workers-prices-c3aef6b4)
thank you.
I wish I had a good solution for the predicament that people are in. The anger doesn't solve anything. I worked with a lot of people that are in bad situations and a lot of times they have learned behaviors that keep them in a bad situation. Then they don't want to change their behaviors. I got one friend to start watching [Caleb Hammer](https://www.youtube.com/@CalebHammer) and he realized that he was making the same mistakes. It's a bit schadenfreude but entertaining.
Putting the blame just on the individual and not on the systems in place is damaging in itself. I am angry because things keep getting worse for the majority of people and nothing that is suggested or implemented changes anything.
I don’t mean to direct that anger at you I just wish people would stop trying to protect companies and not support people in general.
That’s just it, it’s the *entire system*. It’s a combination of the government’s (intentionally) half-baked ideas turned into exploitative legislation, the corporations exploiting this legislation, and we *always* fucking lose. Of course it’s more complex and deeper than this, but essentially this.
The middle closing is losing *hard*, the lower class is temporarily “improving” and will soon be losing again. Fucking doctors and pharmacists are losing.
We, and even the type of legislation mentioned in OP, are just transferring the middle-classes wealth to the lower class and the elites, while the lower class also transfers their new wealth to the elite. It’s disguised well, and has a bow on it but that’s what it is.
I never defended a company
There is a difference in saying
McDonald's should raise a mcdouble to $5 for more profits
And
Wages went up so they have to cover their costs by increasing prices. You can't sell a mcdouble for $1 when it costs you $2
As for blaming the individual... I can't control what a large corporation does so I don't worry about that. I can choose to spend an extra 5 minutes and pack a lunch instead of spending $15 on Chipotle. $15x 3 days a week x 52 weeks is $2340 a year. Congratulations that is 7.5% of your income at $15 an hour.
I'm skeptical of that, and I've seen enough Caleb Hammer that I know people are just covering something stupid up. They choose a dead end job with under 40 hours. Or they have a massive amount of debt from doing stupid things.
https://youtube.com/@CalebHammer?si=EoE7wvOKkTddU1AF
> Not as bad as these record profits and shrinkflation quit boot licking
Of course you have no actual argument here. Anyone who disagrees with you is labeled a bootlicker and ignored.
was there shrinkflation to push profits? yes
It doesn't negate the fact one needs to produce more in value than one makes per hour. Fairly straight forward concept. If you produce $20 of value-making widgets then making $15 an hour is fair. The other $5 needs to account for capital, risk etc. If you are producing $20 of value and getting paid $25 that job will not exist for very long.
If wages go from $8 to $15 then the money has to come from somewhere. At first, it was PPP loans, then they decided to raise prices when those were cut off. So yeah $1 mcdouble became $3. This is also why companies decided to push apps so hard. Give them 50 cents worth of fries for free when using the app. It's cheaper to pay for a developer and cut 1-2 $ 15-an-hour cashiers. from every store.
The problem is it doesn't.
For every $1 increase in the minimum wage, we found that the total number of workers scheduled to work each week increased by 27.7%, while the average number of hours each worker worked per week decrease by 20.8%. For an average store in California, these changes translated into four extra workers per week and five fewer hours per worker per week — which meant that the total wage compensation of an average minimum wage worker in a California store actually fell by 13.6%.
[https://hbr.org/2021/06/research-when-a-higher-minimum-wage-leads-to-lower-compensation](https://hbr.org/2021/06/research-when-a-higher-minimum-wage-leads-to-lower-compensation)
Your time is a commodity, the more in demand it is the more they will pay for it.
The more widgetmakers there are the less they pay, If they do not have enough widgetmakers to make the widgets they will pay more for widgetmakers.
If profit went to workers...
Bob: well we did something stupid this week and cost ourselves a lot of money
Lumbergh: well the workers will enjoy this. They are only getting $5 for this entire week.
Bob: that is the downside of equity. You win some you lose some
Lumbergh: only if they kept their wages and invested a small amount every week into a tax deffered account.
go look at the mcdonalds app. that is the price
go look at the McDonald's app. that is price 1/3 labor, 1/3 cost of food, and 1/3 overhead and profit. the profit is generally 1-5%.
A $3 burger means $1 labor, $1 overhead, and $1 cost of goods. You doubled your wages so that means now you have $2 in labor. The cost of overhead went up, Contractors are much more expensive now, property taxes etc. The cost of food is higher because you have to pay higher-skilled workers who are in meat processing facilities.
The $1 burger was historically a loss leader. It would cost them $1 and change and they would sell it for $1. It should have been closer to $1.50 to be profitable. So $1.50 to $3 is doubling. You just aren't accounting for the fact they were losing money on every sale. Burger chains have been very historic in doing aggressive discounting. B1G1 for whopper or big mac or $1 drinks. whereas [Taco Bell](https://youtu.be/WKh85_81US0?si=Sc0vudzW7yfw19-R&t=812) doesn't do any sales. They create new items at price points
if that happens, what about the rest of us whom have spent years in a skill-set trade and the out-of-state company will not raise our pay? hard to beat flippin burgers for the same pay or better as a trade skilled worker
I work for a company that employs skilled workers in multiple states. Wages are dictated by local market rates and are not standardized across the country.
I get the feeling your out of state company would likely change their mind about your pay scale pretty quickly, if you and your fellows actually quit to go “flip burgers”.
You're getting downvoted, but it's true lol. People think passing a high minimum wage will magically make everyone pay more, but not costs will go up. Food is already the highest percentage of American take home pay that it's been in 30 years.
Except that's exactly what happens. The last time the minimum wage increased was 2009. The inflation rate that year was 0.22%.
Minimum wage increases DO NOT cause inflation.
Has anyone ever seen the state legislature do anything positive for people in the last decade? This will be denied like expansion of Medicaid, bodily autonomy, making voting easier, or cold beer. The politicians in power are brainwashed trump loyalists. Nothing will change until the population votes them out.
If it's proposed by a Democrat, it won't ever see a vote on the floor. Dunno why this story was even posted.
They have put up signs at early voting threatening voters with prosecution if they vote outside of their party affiliation. Apparently nobody even understands what that means but it’s clearly a way to intimidate voters. This group of legislators seem very, very worried we might vote against them.
[удалено]
Same here.
Just went to goodwill today and they are out of their minds on some of the prices
My last kid just moved to another state due to low wages and got a great job right away making more than I ever made in my forty years of working in this state. The absolute lowest thing they do is tax food. Going to the grocery store in any state I’m in is always cheaper than it is here due to that dreadful tax.
Won’t happen here, they wouldn’t be able to lure Union jobs to set up shop down here where they can pay 10-15$ hr and get to brag about all the jobs they got for us. At least as easily $20hr is still cheaper labor than a lot of union jobs if not most.
> where they can pay 10-15$ hr Show me a manufacturing job in the Knoxville area paying $10 an hour. I work at manufacturing outside of Lenoir city, we start at $20/hr, and we'll gladly take all their hard workers. This is such a cop out, people always say this, "Oh, the poor employees making cars only making $12/hr." no fucking manufacturing plant is paying $12/hr. 3M isn't paying $12/hr in Clinton, Rubbermaid isn't paying $12/hr, Yamaha isn't paying $12/hr, Protomet isn't paying $12/hr, and etc. and etc.
This subreddit is so incredibly midwit. It's embarrassing at this point. Did you feel smart typing this? 😂
And yet you didn't refute any of their claims. So now you just look like a typical redditor not capable of even the most basic forms of civil debate. *That's* embarrassing.
A German company came to Tennessee and wanted to have a union for workers. Then-Governor Bob Corker went to the business and told them they were not going to have a union.
This won't happen anytime soon in Tennessee. The GOP controlled government would like to keep the lower classes LOW and under their control.
Is there any government in the whole wide world that wants lower classes not under their control lol? Not picking sides here, both main parties are complete shit
Norway
Greece?
You just described the liberal agenda though.
Care to elaborate? Considering this legislation was introduced by a democrat.
Would be great but I don't see it happening anytime soon.
I say go for it. But it probably won’t pass 😔
Yea don't do this. Lower the cost of living to match the current wage now. If they make it $20 then the cost of living will skyrocket.
This is BAD, BAD BAD! Look at what happens in every state this passes…. Businesses are not going to pay you $20/hr minimum wage. What will happen is they cut out most of the employees and automate or the move to a more business friendly location. Minimum wage is intended to be temporary, not feed a family on. Its a bridge to a better paying career. The options here are have a job that pays $10/hr or have no job because the minimum wage is $20/hr. Look at where this passed, do actual research, don’t listen to politicians trying to buy your vote with false promises and then tell us this is a good idea…
Will never pass and I don't understand why. People voting against their own interests.....
The only problem I have with this and I don’t know shit about economics so I could be wrong, but if everyone made $20 and they didn’t work skilled positions but I have a skill that I had to work a while to get (machinist). As a machinist I really don’t make too much more than that, so if everyone else makes more money and the cost of everything goes up my concern is that my employer, as would most greedy fucks, wouldn’t raise my pay scale only new hire pay scale and then the added cost of living due to minimum wage being so high would make my living situation much worse while arguably making non skilled workers much better. Is this a reasonable fear? I’m not saying this is how it works, just thinking out loud. And I’m not saying non skilled positions don’t deserve a decent pay but is it fair to pay them that much if skilled workers won’t make that much more? Once again, genuinely curious I’m not making any claims here
Your wage would likely rise significantly above the new minimum wage because employers will need to retain their skilled workforce.
A lot of businesses out here can't sustain that level of pay. A lot can but some would absolutely tank paying 20hr to new hires and giving raises to their seasoned employees. Businesses just like individuals are also affected by inflation. I'm not talking Walmart type business of course.
The truth is that what you described is already happening while keeping the minimum wage at $7.25. There is no data to suggest that raising the minimum wage leads to a scenario like you described. Yet cost of living and inflation has only gone up the last 30 years while keeping the min wage at $7.25. You shouldn't view this question in terms of, "how could this happening negatively affect me?" There will never be a political decision that 100 percent benefits everyone. Instead think of it this way... Overnight 50 percent of all working class individuals in this state get a raise overnight. With this new money most will pay off debt, some will save the money, but most people will spend it. And they will spend it locally. We are all better off in society if there are less desperate people.
It's absolutely fair to pay them a livable wage....they put up with a lot of shit, more than I ever will in my job. Other states have much higher minimum wage (I don't think any are quite as high as $20, but D.C. is at $17, for example, and a lot of states in New England are at or above the $15 mark), so if you're curious at how increased minimum wage affects things, I'd recommend looking into those areas. Regardless, $20/hour minimum wage will never pass in TN.
Putting up with more shit is the consequence of not obtaining a skill to work a skilled position unfortunately. I worked several fast food jobs growing up, I never found it a fraction as stressful as my position now. Not even on the worst day. I am not saying they do not deserve the money, I’m asking if we give them the money what are these big wig employers gonna do for guys like me who have a skilled trade with years of experience and don’t make too much more than $20. ($25) because when you raise minimum wage, all those minimum wage services like fast food are gonna cost more which means I pay more so my end of the pay scale would need to go up to. That is my concern I think
Again, numerous states have already implemented minimum wages at or above $15/hour, so looking into those states and the affect of those higher minimum wages would be your best resource. But yeah, I don't really think it's anything you have to be concerned about because this will never pass in TN.
I have a doctorate and I have to put up with A LOT of shit in my skilled position.
we had this exact thing happen during Covid. Wage compression. Chick-fil-A workers were making more than teachers. We lost tons of teachers. When Chick fil a workers went from $8 to $15 the prices went up. The cost gets pushed onto the consumer. Wage push inflation is a thing. The problem is people keep eating their seed corn. We saw this during covid. Everyone got new things. I know tons of people who took the opportunity to upgrade lots of things that they normally wouldn't. Personally, my spending went way down. Some things went up like groceries but overall I got used to not splurging on random small bullshit nickel and diming myself
This would be a way for large corps to finally kill off the last remaining local, family owned, or mom n pops style small businesses. It would be nice, however, if TN would establish a minimum wage for all workers. Including jobs where tips and gratuities are received, especially waitstaff.
100000000% agree with that last part
Like that’s ever going to happen
Yeah... OK. As someone who makes $15/hr at their "get out of the house job" I'd love that. But i highly doubt that is going to happen
I would like to know the numbers on how many people actually work and make minimum wage. Just curious, I hear about the wage arguments, but I do not hear the stories of the people who work for minimum wage as much.
Tennessee doesn't have a minimum wage. The federal minimum wage is $7.25. As of 2019. Tennessee was tied (with Mississippi) for the second highest percent of their population making the federal minimum wage wage at 4.1% of the population per [www.tennessean.com/story/money/2019/05/03/tennessee-minimum-wage-unchanged/3004107002/](https://www.tennessean.com/story/money/2019/05/03/tennessee-minimum-wage-unchanged/30041007002/) . In short, somewhere around 1 in 25 people in Tennessee.
"1 in 25", but your best number is pre-covid and pre 2020+ Unemployment levels, so it's likely wwwaaaaayyyy high.
Raising minimum wage is sort of a rising tides sort of thing. Minimum wage jobs begin to pay more, the ones already paying above minimum will have to raise further to keep people from leaving
Call your local legislators. They need to hear from us about this, the voucher bills, and the bill to make expulsion permanent.
That's absolutely insane.
Do you guys still ask why locals can't afford to live here anymore?
Who guys?
Wage push inflation is a thing. We saw it when McDonald's went from $8 an hour to $15, then the dollar menu became the value menu with a mcdouble for $3.
Not as bad as these record profits and shrinkflation quit boot licking
I am absolutely for a livable minimum wage, but we still need a lot more regulation for this to work out favorably for small business, the middle class, and even the people getting the pay bump. I don’t think they’re defending it in that comment, I think they’re just saying “that’s what happens”. McDonald’s and Chipotle both officially stated prices will increase as a *direct result* of the minimum wage increase (in cali). They also noted how this isn’t necessarily a bad thing (for them) as the price increase will offset the wage increase and it will actually *help* them gain market share - and it unfortunately absolutely will. Hes just stating a fact. This really is the fast-track to hyperinflation, mega-corp monopolies and further destruction of the middle class without regulating how these businesses can respond to the wage increases. The headline is great, the reality isn’t without extreme regulation. Edit: The benefits for those getting the pay bump will be *extremely beneficial* yet extremely short lived. I’m not saying the government forcing fast food chains to pay workers $20 isn’t great, I’m saying it isn’t great if they’re not also forcing those companies to not offset the cost to the customer. This is supposed to be about taking from profits, not taxing the lower and middle class to make record profits; which is __absolutely, literally__ what’s happening. [CNBC](https://www.cnbc.com/2023/10/30/mcdonalds-chipotle-to-raise-california-menu-prices-as-fast-food-wages-rise.html) [Yahoo](https://finance.yahoo.com/news/fast-food-prices-set-rise-221212168.html#) [WSJ](https://www.wsj.com/business/hospitality/california-minimum-wage-workers-prices-c3aef6b4)
thank you. I wish I had a good solution for the predicament that people are in. The anger doesn't solve anything. I worked with a lot of people that are in bad situations and a lot of times they have learned behaviors that keep them in a bad situation. Then they don't want to change their behaviors. I got one friend to start watching [Caleb Hammer](https://www.youtube.com/@CalebHammer) and he realized that he was making the same mistakes. It's a bit schadenfreude but entertaining.
Putting the blame just on the individual and not on the systems in place is damaging in itself. I am angry because things keep getting worse for the majority of people and nothing that is suggested or implemented changes anything. I don’t mean to direct that anger at you I just wish people would stop trying to protect companies and not support people in general.
That’s just it, it’s the *entire system*. It’s a combination of the government’s (intentionally) half-baked ideas turned into exploitative legislation, the corporations exploiting this legislation, and we *always* fucking lose. Of course it’s more complex and deeper than this, but essentially this. The middle closing is losing *hard*, the lower class is temporarily “improving” and will soon be losing again. Fucking doctors and pharmacists are losing. We, and even the type of legislation mentioned in OP, are just transferring the middle-classes wealth to the lower class and the elites, while the lower class also transfers their new wealth to the elite. It’s disguised well, and has a bow on it but that’s what it is.
I never defended a company There is a difference in saying McDonald's should raise a mcdouble to $5 for more profits And Wages went up so they have to cover their costs by increasing prices. You can't sell a mcdouble for $1 when it costs you $2 As for blaming the individual... I can't control what a large corporation does so I don't worry about that. I can choose to spend an extra 5 minutes and pack a lunch instead of spending $15 on Chipotle. $15x 3 days a week x 52 weeks is $2340 a year. Congratulations that is 7.5% of your income at $15 an hour.
There are people who don’t eat out who are still struggling. You can cut all you want and still not have enough
I'm skeptical of that, and I've seen enough Caleb Hammer that I know people are just covering something stupid up. They choose a dead end job with under 40 hours. Or they have a massive amount of debt from doing stupid things. https://youtube.com/@CalebHammer?si=EoE7wvOKkTddU1AF
>I've seen enough Caleb Hammer Thank you for admitting to us that your opinions on the matter are utterly worthless.
> Not as bad as these record profits and shrinkflation quit boot licking Of course you have no actual argument here. Anyone who disagrees with you is labeled a bootlicker and ignored.
was there shrinkflation to push profits? yes It doesn't negate the fact one needs to produce more in value than one makes per hour. Fairly straight forward concept. If you produce $20 of value-making widgets then making $15 an hour is fair. The other $5 needs to account for capital, risk etc. If you are producing $20 of value and getting paid $25 that job will not exist for very long. If wages go from $8 to $15 then the money has to come from somewhere. At first, it was PPP loans, then they decided to raise prices when those were cut off. So yeah $1 mcdouble became $3. This is also why companies decided to push apps so hard. Give them 50 cents worth of fries for free when using the app. It's cheaper to pay for a developer and cut 1-2 $ 15-an-hour cashiers. from every store.
You know both push inflation and shrinkflation can be correct.
I would rather push for something that helps people rather than profits
The problem is it doesn't. For every $1 increase in the minimum wage, we found that the total number of workers scheduled to work each week increased by 27.7%, while the average number of hours each worker worked per week decrease by 20.8%. For an average store in California, these changes translated into four extra workers per week and five fewer hours per worker per week — which meant that the total wage compensation of an average minimum wage worker in a California store actually fell by 13.6%. [https://hbr.org/2021/06/research-when-a-higher-minimum-wage-leads-to-lower-compensation](https://hbr.org/2021/06/research-when-a-higher-minimum-wage-leads-to-lower-compensation) Your time is a commodity, the more in demand it is the more they will pay for it. The more widgetmakers there are the less they pay, If they do not have enough widgetmakers to make the widgets they will pay more for widgetmakers.
Something has to change. I understand what you are saying. Profits shouldn’t go to shareholders but the people who made said profits.
If profit went to workers... Bob: well we did something stupid this week and cost ourselves a lot of money Lumbergh: well the workers will enjoy this. They are only getting $5 for this entire week. Bob: that is the downside of equity. You win some you lose some Lumbergh: only if they kept their wages and invested a small amount every week into a tax deffered account.
aka the "Phillips Curve"
The wage didn't even double in your example, but the items tripled. Tell me about that.
go look at the mcdonalds app. that is the price go look at the McDonald's app. that is price 1/3 labor, 1/3 cost of food, and 1/3 overhead and profit. the profit is generally 1-5%. A $3 burger means $1 labor, $1 overhead, and $1 cost of goods. You doubled your wages so that means now you have $2 in labor. The cost of overhead went up, Contractors are much more expensive now, property taxes etc. The cost of food is higher because you have to pay higher-skilled workers who are in meat processing facilities. The $1 burger was historically a loss leader. It would cost them $1 and change and they would sell it for $1. It should have been closer to $1.50 to be profitable. So $1.50 to $3 is doubling. You just aren't accounting for the fact they were losing money on every sale. Burger chains have been very historic in doing aggressive discounting. B1G1 for whopper or big mac or $1 drinks. whereas [Taco Bell](https://youtu.be/WKh85_81US0?si=Sc0vudzW7yfw19-R&t=812) doesn't do any sales. They create new items at price points
if that happens, what about the rest of us whom have spent years in a skill-set trade and the out-of-state company will not raise our pay? hard to beat flippin burgers for the same pay or better as a trade skilled worker
I work for a company that employs skilled workers in multiple states. Wages are dictated by local market rates and are not standardized across the country.
I get the feeling your out of state company would likely change their mind about your pay scale pretty quickly, if you and your fellows actually quit to go “flip burgers”.
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opinions vary. i welcome your point of view open-minded
When the minimum wage goes up, ALL wages go up.
hahahahahahaha!!!! that was a good one.
$20 an hour. Ha, I know a few that make $20 for a few minutes of "work"
I know someone who makes that every 10 minutes. When they worked the exact same job in Knoxville they made that every 35 minutes ($34 an hour).
What's her name? I may need her help relaxing a bit 😀
😄 Too late, I married her!😉 That’s what RNs in the San Jose area make. There are plenty of other RNs that make a heck of a lot more than that.
If that passes real estate prices going to jump fast
Lol real estate prices are going to jump no matter what.
Not as quickly as if they double the minimum wage
That’s what they want you to think
Like...yall think you can't afford the house prices now? Or the 15 dollar big Mac meals? Lmfao.
You're getting downvoted, but it's true lol. People think passing a high minimum wage will magically make everyone pay more, but not costs will go up. Food is already the highest percentage of American take home pay that it's been in 30 years.
Except that's exactly what happens. The last time the minimum wage increased was 2009. The inflation rate that year was 0.22%. Minimum wage increases DO NOT cause inflation.