Along with higher cost of Big Mac's and whoppers.. do those kids think higher minimum wage will put more $$ in their pocket? Yes, but they will be fooled, that $$ has to come from somewhere... duh..
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And it’s still not enough!
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Good thing overall wages haven't been stagnant since the 1980's while productivity has been going up. Otherwise, you would have looked quite the fool.pic.twitter.com/YWnanDW31l
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Mimimum Wage hasn't went up since 2009 yet cost of living has.
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Thousands to be laid off as many small businesses can’t afford to pay $15 an hour. Prices will have to up. People now making $15 will get more. This is a consequence that should have been considered.
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Higher "minimum" wage will turn out to be a disaster. Companies will not be able to maintain a profit, which leads to increased pricings from these companies. If this continues, it will be a loaf of bread for a days wages.
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Companies who do not increase pricing will either have to make some serious employee cuts or just replace with machinery. I believe McDonalds has already started this trend with their "robots" in replacement of employee expenses.
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Eventually we'll move to a nation of a high unemployment rate and nearly everything run on automation. If you want to sustain a career, probably a good idea in getting a degree in engineering or become a service technician for these "employee replacements".
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What introduction to economic "theory"? Are we talking about supply and demand, consumer and producer? You increase minimum wage and profits fall, that revenue margin will decrease dramatically. To keep these profits, companies will charge more with wage increase.
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Once they charge more, that "supply" cost to the consumer will be increased so much so that it would be practically more expensive for these products by percentage than it is now. Higher minimum wage= higher cost of living.
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The minimum wage is currently 8.10/he in FL, with median apartment listed prices for one bedroom is @ $750 a month. The minimum wage in CA is currently 10.50/hr and the average one bedroom apartment listed price is $1750
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So for a $2.40 increase in minimum wage you have an increase of $1000 for apartment pricing. That's just rent, not to mention gas is 80 cents higher than the national average.
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Higher prices too
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IT'S UP TO EACH GOVERNOR TO MAKE THE CHOICE FOR HIS OR HER STATE. COST OF LIVING IS HIGH. FEDERAL MIN.WAGE ONLY 7.25. ALL WORKERS SHOULD MAKE AT LEAST TEN AN HOUR IN 2018.
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