[Pabstman]

http://www.investors.com/politics/e...en-fires-hundreds-of-workers-after-it-passes/
Sorry for screwing up the link. Maybe somebody can fix it. I tried a few times.

Rather hypocritical of this liberal college. I guess it's that old adage be careful what you ask for. I truly feel sorry for these pawns who can't think for themselves. I guess a hidden camera to see the look on their faces when they opened the letter would be priceless. But in reality the Democrats who passed the law knew the consequences and yet passed it anyway. That is sickening. Kind of like Obamacare.

 

[Rockwell Torrey]

I saw a clip of Governor Moonbeam Jerry crowing about this law;
He's as clueless as...well, clueless.

It's so simple even a kindergartner should be able to make sense of it.

You have a business. You charge a price for the service/goods that you provide. That price must be what someone is willing to pay. If that price is high compared to the competition, people will shop elsewhere and you lose business.

If you provide something people can live without say, a restaurant and you raise prices people may choose to eat at home. Or elsewhere. You lose money.

Your business takes in an income; after you pay your bills, there is some left for reinvestment in the business itself, capital for the future (savings to get you through those lean times) and of course make a profit. Most small business owners I'm acquainted with are already running things pretty thin. If you're forced to pay your employees more, you will make cuts to stay in business. The first thing to go will be that 'extra' employee. Or two or three.

Some businesses will not be able to survive and will fold putting the whole lot of them in the street.

Welcome to the wonderful world of Bolshevik Bernie!

 

[PoorRichard05]

One thing for sure. Your Big Macs and happy meals are going up.

 

[aramchek]

If Bernie were a true socialist, he'd have no interest in a minimum wage hike at all. Instead, he'd eradicate management and investors, and distribute all the shares to workers themselves. Marx's real vision, whether or not you agree it works, was worker OWNED factories, not tossing bones to wage-slaves.

I bumped into a true socialist once, and he hated the Democrats most of all. He felt the Dims were most responsible for prolonging his inevitable class revolution, general strike, or whatever he was smoking. The Dims, he felt, kept putting band-aids on a fundamentally broken system. In his mind, it would be better to eradicate minimum wage altogether, people starve, then revolt. Reboot.

I saw a clip of Governor Moonbeam Jerry crowing about this law;
He's as clueless as...well, clueless.

It's so simple even a kindergartner should be able to make sense of it.

You have a business. You charge a price for the service/goods that you provide. That price must be what someone is willing to pay. If that price is high compared to the competition, people will shop elsewhere and you lose business.

If you provide something people can live without say, a restaurant and you raise prices people may choose to eat at home. Or elsewhere. You lose money.

Your business takes in an income; after you pay your bills, there is some left for reinvestment in the business itself, capital for the future (savings to get you through those lean times) and of course make a profit. Most small business owners I'm acquainted with are already running things pretty thin. If you're forced to pay your employees more, you will make cuts to stay in business. The first thing to go will be that 'extra' employee. Or two or three.

Some businesses will not be able to survive and will fold putting the whole lot of them in the street.

Welcome to the wonderful world of Bolshevik Bernie!

 

[13ella]

Hey, they got what they asked for. Everyone tried to warn them there would be job cuts and they seemed to be okay with that. Don't whine to me now about not having a job. On the bright side, their former co-workers are making more money. :thumb: They should be happy for them.

Nitwits. They never think it will be them.

 

[blue123]

I saw a clip of Governor Moonbeam Jerry crowing about this law;
He's as clueless as...well, clueless.

He was Governor when I was there in the 70's. It was heavily rumored that Cocaine was prevalent at all the governors mansion party's.
Frankly, he was just as clueless then as he is now.

 

[mfitzy111]

http://www.zerohedge.com/news/2015-...l-mart-hikes-minimum-wages-prepares-fire-1000

walmarts answer to min wage...fire more people...less people to pay. this is in California- so I'd guess this will happen every where it's pushed... welcome to 1929.

anyone here really surprised at this stuff happening today? I'm not...

 

[kfilly]

Heck, these people should not stop at asking for $15 an hour. They should ask for a few hundred dollars an hour. That way everyone could be rich and lead the life of luxury.

This minimum wage hike is all about Marxism. It is the theft of private wealth and redistributing it to the minions. I feel the market should determine what one's salary worth is. If people don't feel they are paid enough, they should get skills to get a higher paying job. I don't think being a McDonald's fry cook was supposed to be a career aspiration.

 

[Pranqster1]

More spin.......UC doesn't pay ANYBODY minimum wage, and I doubt more than a fraction of a percent even got a raise at all. Considering that Jim Mora, the football coach at UCLA gets $3,500,000, I think a small raise for the people doing the real work is reasonable.

 

[Nightvisionary]

Higher prices naturally leads to less demand, lower investment, and higher inflation. That's Econ 101. Increase the minimum wage and you will see those workers suffer from structural unemployment. Fast food jobs will be a thing of the past just like UAW spot welders that lost their jobs due to improvements in technology. The only real way to improve income is to improve skills.

 

[Nightvisionary]

More spin.......UC doesn't pay ANYBODY minimum wage, and I doubt more than a fraction of a percent even got a raise at all. Considering that Jim Mora, the football coach at UCLA gets $3,500,000, I think a small raise for the people doing the real work is reasonable.

They may not pay minimum wage but I am sure there are plenty of service jobs, entry level clerical jobs and work study jobs that pay less than $15 an hour/30K per year plus benefits.

Tuition rates are already increasing well in excess of inflation. The same groups that are advocating an increase in minimum wage are the same groups that are advocating for the forgiveness of taxpayer funded student loans. If the students aren't going to accept even higher tuition rates where is the money going to come from? Are you willing to pay higher taxes because the taxpayers are going to be the ones left holding the bag?

 

[Kalashnikov47]

Proof that the market will adjust accordingly...

 

[clocker]

Considering that Jim Mora, the football coach at UCLA gets $3,500,000, I think a small raise for the people doing the real work is reasonable.

Specious. Big-time collegiate coaches are paid from revenue-generating sports such as football and basketball, not from the general fund. These sports generate tens of millions in revenue for a university. In the case of UCLA, almost $100 million.

From the Orange County Register:

The department reported a balanced budget with $96.91 million in total revenue. Last year, it reported a balanced budget of $86.43 million.
Universities are required to file annual athletic-related revenues and expenses reports with the U.S. Department of Education as a stipulation for receiving federal aid.
Not surprisingly, football continues to be the prime money-making sport for UCLA, bringing in $44.73 million in related revenue. That is a significant spike from the $30.35 million it reported in 2013-14 and it accounts for 46 percent of the department's total revenue.
The school also reported an increase in football-related expenses of more than $2 million, up to $26.86 million.​

After several years coaching the Bruins back from relative obscurity to Pac-12 prominence, we see a $14+ million jump in revenues, and you begrudge him his $3.5 million?? Do you think the venders and stadium sweepers, likely earning minimum wages, are having such a positive impact on revenues? Pranqster, remind me not to hire you as athletic director anywhere...

 

[chiggertick]

There are businesses in LA that have already started taking measures to automate costing people thier job in lieu of the coming $15 a hour wage. The idiots that brainstormed this fail to realize the trickle down effect it will have IE wages go up so does the price of the product.

 

[alv7722]

I see the $15/hr min wage as a precursor to halving the value of our money??

 

[txprep]

Higher prices naturally leads to less demand, lower investment, and higher inflation. That's Econ 101. Increase the minimum wage and you will see those workers suffer from structural unemployment. Fast food jobs will be a thing of the past just like UAW spot welders that lost their jobs due to improvements in technology. The only real way to improve income is to improve skills.

economics is more complicated than econ 101. While Im generally against min wage, the interesting thing is within limits it has been shown not to have the above effects.

There are probably many factors, but a couple might be

lack of rising wages in the face of inflation has been decreasing the strength of wages in those areas anyway. The raises are small enough that they are just bringing the wages to where they have been in the past.

The additional money flow that is created by putting some additional (but not too much) money in the hands of the poorest actually generates outsized demand.

In theory you are right, but the reality is more complicated and the simple model above does not hold.

Trickle down was a popular theory in the past, turns out it doesnt work. Economists have shown that putting money into the hands of the poor actually creates more benefit to the growth of the economy.

Im not advocating giving anyone any money as that has long term societal effects. People do need to work for their money.

 

[SnakeRanch]

Then there's the elephant in the room the pc crowd refuses to talk about.

Main problem is we have millions of the permanent underclass who are low intelligence and that cannot be altered.
They can't be trained to do complex jobs worth higher pay, because the intelligence is simply not there and never will be.

Each generation of them produces more, whether by drugs, physical abuse, or just plain bad breeding, the result is the same. Low IQ.
Functionally unemployable.

Employers will simply not pay more than an employee is worth.

Which is one reason the welfare rolls skyrocket.

The solution? There IS no solution.

 

[txprep]

I see the $15/hr min wage as a precursor to halving the value of our money??

Based on the total money supply that is required to service the debt we have, we are keeping at bay about 400% inflation.

The money has already been spent, just not printed yet.

 

[rt66paul]

Living in Ca, I know how expensive everything is. The goverment says there is no inflation, but food had risen about 30% this last year or so.
My wife and I were married in 1974 and both worked at min wage or close. We kept 2 old cars running, paid rent, utilities, groceries, laundry, and had a little left over for her professional clothes and still go go out to eat once a week and catch a movie once or twice.
No one can do that today. The low minimum wage is that way because many cross the border and will work cheaper for longer hours. We had dreams of entering the middle class and we did. Do you think your children will?

 

[Red_Liner740]

So the solution is to get fired? So how would you survive on zero dollars?

If a person is willing to hire illegals what makes you think they wont hire people under the table for $10. The guy working is happy cuz hes making something, the employer is happy cuz he doesnt have to claim and pay out a bunch of $$ to the government. Remember that for that $15 dollars an hour he pays you, hes also paying out another $10 to $15 in benefits, taxes, etc to the government.

I keep telling people, dont like what you're making? Go and get a better paying job! Oh you're all tattoo'd up, cant put a sentence together and dress like an extra from the latest Rap movie, so no-one wants to hire you? Well gee whos fault was that? Got five kids, cant lose your job or risk a career move that might lead to a better job? Maybe you should have put your pecker away until you had a more sound financial future.

No no, its the man keepin YOU down for your dumb mistakes.

We're all preppers on one level or another. How would you like your 3, 6 or whatever month supplies of food/water/etc being taken away from you by people who didnt want to do it themselves. Is that your reward. Because people who are demanding higher wages are just like the people who WILL come for your **** when their kitchen is empty.

In both instances their lack of planning, looking at the future at what they will do and now are demanding something that is not theirs to demand in the first place.

Living in Ca, I know how expensive everything is. The goverment says there is no inflation, but food had risen about 30% this last year or so.
My wife and I were married in 1974 and both worked at min wage or close. We kept 2 old cars running, paid rent, utilities, groceries, laundry, and had a little left over for her professional clothes and still go go out to eat once a week and catch a movie once or twice.
No one can do that today. The low minimum wage is that way because many cross the border and will work cheaper for longer hours. We had dreams of entering the middle class and we did. Do you think your children will?