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the market speaks on $15 an hour
topdawgnc
Member Posts: 7,838
in Tug Tavern
unitedliberty.org/articles/17751-warning-to-seattle-seatac-businesses-slashing-benefits-overtime-in-wake-of-wage-hike
Are you happy with the $15 wage?” I asked the full-time cleaning lady.
“It sounds good, but it’s not good,” the woman said.
“Why?” I asked.
“I lost my 401k, health insurance, paid holiday, and vacation,” she responded. “No more free food,” she added.
The hotel used to feed her. Now, she has to bring her own food. Also, no overtime, she said. She used to work extra hours and received overtime pay.
What else? I asked.
“I have to pay for parking,” she said.
Are you happy with the $15 wage?” I asked the full-time cleaning lady.
“It sounds good, but it’s not good,” the woman said.
“Why?” I asked.
“I lost my 401k, health insurance, paid holiday, and vacation,” she responded. “No more free food,” she added.
The hotel used to feed her. Now, she has to bring her own food. Also, no overtime, she said. She used to work extra hours and received overtime pay.
What else? I asked.
“I have to pay for parking,” she said.
Comments
Executives didn't become executives by allowing workers to be fairly compensated and letting profits fall. That is a downside to reality.
Funny thing is, there was a piece in the ST this week (too lazy, look it up yourself) revealing that these Bolsheviks didn't know about inflation. The $15 doesn't get phased in until 2020. They were up in arms that it would be only $13 and some change by that point in time.
These are dangerous people
Also, demand for labor in that sector will decrease, further squeezing them out. I LOLd at the guy holding the sign demanding a $15 wage...it was in Spanish. He was basically asking the council to outlaw his ability to work.
To the degree that any of this affects the economy is related to how close the wage is to equilibrium. In the past I suspect minimum wage was close to equilibrium and the increases in the wage we small so the affect wasn't dramatic. This increase seems much larger is the affects could be more pronounced.
Seattle also has a fairly strong economy that can absorb some of this, but I think the bottom line is a lot of people who think they are getting a raise will get a big fat zero.
So if you extend their argument out that if $15 is good, why not $50 or $100, they say no one is talking about a wage that high and it's hyperbole. But what they deny or are too dumb to grasp is the same economic models that make $50 ridiculous, apply to $15 and hour. The intuitively know that $50 is too much, but have an arbitrary number in their head they think will work. The question isn't if the wage will be out of equilibrium, but by how much, and how much is acceptable to them? How many people are they willing to hurt in order to help others? That is not compassion, that's using the force of government to coerce people to forward their socialist agenda. It's easy to feign compassion with other peoples money. It makes you look like a fucking hero at cocktail parties and the reception area of the youth symphony ( hi collegedoog).
LineLeave Mrs Blitzkrieg out of this.
nydailynews.com/new-york/queens/queens-gym-teacher-raped-16-year-old-wrestler-school-prosecutors-article-1.1815445