Originally Posted by yogurt
Originally Posted by RustyShackleford
-$10.10 is the number president Obama put forward, and has been putting forward for the increase. Many states and companies have been setting their minimum wage around that number, so I just used the original figure
-Many people has cost of living increases built into their pay, most probably don't. It is more common in the public sector
And if you skilled enough and have the leverage, you can negotiate for it. But most people find other perks for worthwhile to negotiate for though.
-What happens when people are willing to work for less, but have to get paid more? Ummmmm, they get a surplus
It is like saying what happens if I want to pay $100 for a item, and when I go to the store it is on sale for $80.
I'm not gonna be like "Oh ****, now I have all this extra money"
Unless you meant something else with that question?
Okay first number makes sense, I thought you just threw out an arbitrary number.
Second question I did mean something else. If you're willing to work for $10.10 and I'm willing to work for $6, why would they choose you over me? Obviously I'd like to get more, but I'm also okay with less, what happens then?
That is kinda of a weird question, but lets walk through a couple scenarios
-First let's say the minimum wage is set at $10.10
I willing to work for $10.10, you're willing to work for $6
To the person hiring up, those number are pointless really. It could signal that you value the job more that me, it could signal your just more desperate than me.
Either way the company a) still has to pay $10.10 and b) and what sense will it be to ask someone what is the lowest possible salary they will accept below what the law says you have to pay them.
Matter of fact, if there is one job it might be better you get it because you value it more, it will give you more surplus. I'm the marginal guy, the last guy in, once I find a job that pays me just a lil more all things being equal I probably be quicker to bolt.
So actually under the new minimum wage, if benefits you more than me.
-Next lets look at a case where there is no minimum wage
Now maybe you undercutting me might work. Even though I doubt most places would not let a wage before offering a job. But anyway, ignoring that
There would need to be a ton of people like you. Because everyone is gonna get paid what the last guy in is gonna get paid.
So if there is not enough $6 people to meet demand, the company gotta hire $7 folk (wage goes up), then $8 dollar folk (stage goes up), and so on until it might reach me at $10.10.
And unless you're comfortable will rampant wage discrimination (which is not really feasible anyway). Wage will increase for everyone in that industry, including you. So the market dictates you will still get paid more than the $6 you are willin to work for.
But with inflation and the current cost of living, that you gonna be getting washed economically
All scenario point to you just getting paid more that you were willing to work for but that is kinda off topic.
Because under current conditions folk won't be able to survive making those wages. That's some third world country type steez