Business owners pay more money to support all of the minimum wage workers, they increase their own prices to do so, the minimum wage workers buy things from the places at the higher rates, only causing the dollar value to go down and no one is benefited. Vote Trump. Duh!!!!
We have a service based business. Our overhead is mostly Lubbock. Of course we would need to raise our prices. We would need to charge more to stay profitable. The business we provide our service to at a higher price would have to charge more, not only to pay for their labor costs increasing, but our higher charges.
The prices of items that we purchase doesn't start at the store when we purchase it. For instance, if you buy a pack of gum at your local convenience store. That gum was made in a factory. The factory pays its workers a wage, which is now higher due to the minimum wage increase. The employees who transport the gum earn a higher wage as well and the store employees now have a higher wage. Not only that, the price of operation of the factory and the transportation also increases, because the cost to produce the raw materials and gas goes up due to having to pay employees more. Every aspect of the development of the product costs more. By the time the pack of gum gets to the store, at its higher price, the store much charge more to make a profit.... And that is just a pack of gum. The process will be the same for any product you purchase. Minimum wage is for workers who do not have the training and skills necessary to get higher paying jobs. Minimum wage jobs were not meant to support ones family. In my area, most bachelors level jobs start around $14-$16 per hour. If minimum wage goes up to $15 per hour, there is no real intensive for higher education, and those employers are not obligated to raise their wage to anything above $15. Everyone will suffer from continuing to raise minimum wage. Our dollar will continue to loose value, and the poor will only fall further into poverty.
Raising minimum wages also increases other things. So, you think raising your wage will bring you out of poverty, it will not. The more you make, the more money you have to spend for things you need to live on. Government waste needs to be decreased. The illegals that is here getting everything free, needs to be deported. Trump is the only one that will help you with all of that. ***vote trump***
The minimum wage earner does not support the small business that will be totally effected by the increase. Their employees that already make at or close to the new wage will demand an increase also. Workers compensation goes up by the amount wages paid. Its a vicious cycle tat will cost California dearly.
I can't believe how ignorant people are. Every increase of the minimum wage in the past has been followed up with an increase of the price of products. The inflation rate always grows higher than the rate of wage increases. Leaving the economy in worse shape than before the increase.
If you raise the wage the prices of everything else will go up. People who have never owned a business or ran a business might not understand. It is basic economics. If I have to pay my driver more to drive my truck, then I'm going to raise my prices to help pay for that. History shows that this is a fact. If you don't want to believe it just stick your head in the sand like these politicians are doing. Ask Moon-Beam how many Jobs he has ever created? Government jobs do not make anything for the people they just spend other people's hard earned money on their pet projects.
Everyday prices are set with minimum wage in mind, this includes cost of labor put into an item. If an owner of a factory or farm is forced to pay workers more, the price of that item will increasedue to it costing more to produce since they have to pay their workers more. The prices will raise and the value of the dollar will go down.Eventually people will say they aren't getting paid enough again, try to raise the minimum again and when it happens the dollar will carry even less value. I agree that there needs to be something done about the economy but raising the minimum will mean less jobs because business owners aren't willing to pay the money, increased prices on goods and services and devalue the dollar. It's like sarong of everyone got 20 bucks an hour we'd all be happy and be able to live off that, but the fact is it would have enormous economic repercussions.
It is my opinion that raising minimum wage would increase the prices of everyday purchases that are necessary for the majority of minimum wage earners. Once companies can anticipate that their customers can spend more money, then they will be more likely to raise the prices of their goods in order to make more profit.
Yes, raising the minimum wage would just increase the prices of everything else, because the people would have more to spend and demand would go up. With that, providers would raise their prices in order to counter act the demand. Minimum wage is called minimum wage for a reason. It was never meant to be someone's livelihood.
The only reason prices increase when wages go up is the corporations not wanting to take a loss and needing to show the board profit. Force them to raise minimum wage and not raise cost of goods. Force them to make 20mil a year instead of 50mil. Healthcare, Taxes, Wage increase and social welfare should all be covered by corporations, Not individuals or small business. Companies making record profits while Americans go into debt is nuts.
The cost of living has sky rocketed in the past 40-50 years 10 fold but the minimum wage hasn't kept pace. You know what has increased 100 fold, Company profits and executive salaries. I'm not saying that there wouldn't be any businesses affected by a raise in the minimum wage but these corporations and executives might have to take home a little less so their workers can take home a little bit more. I love how one person on here argued that a minimum wage increase would be so bad because construction workers would no longer risk their lives for 15 dollars an hour anymore if they can flip burgers for 15. Yeah no shit buddy, And nobody should have to risk their lives daily for 15 an hour.
Profit margins are very healthy for many corporations. Need wage growth without price growth. Greedy capitalism has gotten too far ahead of itself. Sacrifices must be made temporarily to get stability. Few percent sacrifice off net profit margin won't kill the company. Many companies are 25%+ net operating margin. These can sacrifice.
The prices of goods have gone up anyway while wages stayed stagnant. If people truly want to get back to the times of the 50', 60's and 70's we need to get wages backup. People will spend more and the economy will thrive. Best thing to do is tie wages into inflation.
I am sure there are a multitude of facts and figures for both sides of the argument, but much like life, I can only go on what I see; and from my perspective I see the price of food, housing, energy, et cetera going up every year. The only thing I have not seen increase is wages for workers. Raising the minimum wage would just get us "po' folk" to an even keel.
It is my opinion that increasing the minimum wage will raise the standard of living and allow those at the bottom of the "trickle down" pyramid to not have to decide on milk or fuel for their car every week. It would also allow those (myself included) making more than the minimum to ask for a raise themselves.
And on a side note, when did the average American decide to support the profit of multi-billion dollar companies instead of their neighbors and coworkers?
The actual percentage of the overhead on most products is not primarily from wages so much as it is from transportation costs, the cost of materials, rent, utilities and other such expenses. Even with those overheads many products are already sold at 100% to a 1000% of the production cost. Allowing people to make a more livable wage would not automatically cause businesses to raise the pay of higher paid employees who are already above the minimum and the new minimum. There would be a small part of the population who would fall into the area between the two but much like the minimum wage earners the overwhelming majority of them are in the service industry and essentially selling themselves moreso than any product. So the increased costs would not be sufficient to merit an immediate raise in pricing, over time the prices would adjust somewhat but the surge of profit from the larger pool of income for a huge number of people would be a good motivation to not rock the boat with such a blatant and greedy change to costs. Watch the cities where these types of changes are being made and judge from that.
Although businesses have a profit margin built into their prices, raising minimum wage shouldn't mean increasing the cost of everything else. The rate at which minimum wage has increased is fairly slowly. I think raising the minimum wage would help economic growth as people would likely put the increased wage back into the economy.
Raising minimum wage would simply put more money in people's pockets. Everyone's pockets. Reason being? There would be more money to spend, therefore every business would profit from it. Not only that, the United States would profit, because we would have increased tax revenues. Raising minimum wage is only logical.
I think minimum wage should be taken by a city by city basses. Some cities are more expensive to live in than others. Minimum wage should rise with the inflation seen in the city. A 15 dollar minimum wage would make things even worse for everyone, Escpeially for fields like teachers where their wages are stagnate. Also, The prices of goods and services will go up and make the dollars of 15 dollar minimum wage people worthlees and then their will be a campaign for a 20 dollar minimum wage and then the cycle will continue. Also for those people on minimum wage that are surviving due to the government, You benefits will diminish untill their is no more.