My Fellow New Yorkers, Minimun Wage Is Going Up.

[ninjahood]

living wage ≠ minimum wage.

 

[Coromanti]

This is a bad idea...automation is coming regardless, but you'll encourage employers to come at it even faster.

 

[RustyShackleford]

This is a bad idea...automation is coming regardless, but you'll encourage employers to come at it even faster.

So how many years do you think a low minimum wage will buy workers?

 

[Coromanti]

 

This is a bad idea...automation is coming regardless, but you'll encourage employers to come at it even faster.

So how many years do you think a low minimum wage will buy workers?

I propose eliminating the minimum wage altogether and replace it with UBI.

 

[prostaffer]

I dunno how Americans gonna feel about Johnny 5 cooking their burger.

Im sure some folks wont care, but as big as health food and clean eating craze is, its gonna take a LONG time before people just cool with a robot cook

For real. Food is pliable. Too soft for robot to be throwing ground beef around and all that.

 

[nazdrowie]

robots dont understand taste and texture...will robots understand difference between medium rare or well done?

 

[RustyShackleford]

 

This is a bad idea...automation is coming regardless, but you'll encourage employers to come at it even faster.

So how many years do you think a low minimum wage will buy workers?

I propose eliminating the minimum wage altogether and replace it with UBI.

That's nice and all.

But it doesn't answer my question.

 

[160jordansdeep]

Minimum-wage goes up so does everything else
A loaf of bread is going to be $6.00 soon

 

[brendasdeadbaby]

robots dont understand taste and texture...will robots understand difference between medium rare or well done?

Medium rare and well done is all a matter of time on the grill. If you order a medium rare steak the robots will take the meat off the grill sooner. Well done they will leave it longer

 

[gry60]

Minimum-wage goes up so does everything else
A loaf of bread is going to be $6.00 soon

Actually, raising the price of a big mac by $0.17 covers the wage increase to $15 an hour. (4.3% increase in prices)

https://www.purdue.edu/newsroom/rel...employees-would-raise-prices-4.3-percent.html

 

[sonoftony]

still can't live off $12 an hour in NYC though

 

[AZwildcats]

still can't live off $12 an hour in NYC though

to be fair you can barely live anywhere in the country off of $12 an hour, especially if you have a family 

 

[Canadian Destroyer]

still can't live off $12 an hour in NYC though

Like I said this is a joke. Even $15 isn't enough anywhere in the country.
I saw something this past week about the guys at FB wanting to experiment with a universal basic income model

http://www.businessinsider.com/economic-security-project-researches-basic-income-2016-12

I believe this was recently voted down in Sweden if I'm not mistaken

 

[OnlySinkDunks]

Going up to 8.90 in Michigan lawl

 

[160jordansdeep]

Actually, raising the price of a big mac by $0.17 covers the wage increase to $15 an hour. (4.3% increase in prices)

https://www.purdue.edu/newsroom/rel...employees-would-raise-prices-4.3-percent.html

I'm not talking about the price of a big Mac

I'm talking about buying bread in the supermarket

 

[gry60]

Actually, raising the price of a big mac by $0.17 covers the wage increase to $15 an hour. (4.3% increase in prices)

https://www.purdue.edu/newsroom/rel...employees-would-raise-prices-4.3-percent.html

I'm not talking about the price of a big Mac

I'm talking about buying bread in the supermarket

The takeaway here is that a substantial increase in the minimum wage is possible without having to substantially increase the price of goods.

 

[kingkoopa]

still can't live off $12 an hour in NYC though

Where can you do this anywhere?

 

[ScroogeMcBuckz]

Minimum wage is a joke period. Adults can't live off that. If you live in NYC making minimum wage just leave. Your either copping a spot in the hood or in a crib full of people. Neither are ideal situations for me.

Fast food is is changing as we know it, Uber Eats just launched. Now those fat, driver thru clogging McDonald's customers don't even have to leave the house. Someone will bring those struggle meals to them.

Uber is about to take over for all the little things that people don't feel like stepping out for, what's a extra $5 to have someone go get something for you awhile you don't have to move a muscle. Just one more notch in the Americans are lazy belt.

 

[heliumclinton]

I'm all for it.

Making someone do these long *** hours busting their *** for $9 is terrible

I heard Starbucks pays their people well

 

[cruzzz]

I'm in a small town in Missouri and it's only 7.65 hour 

Excuse my ignorance, but when this happens do all other jobs get raises?

 

[RustyShackleford]

I'm in a small town in Missouri and it's only 7.65 hour :x

Excuse my ignorance, but when this happens do all other jobs get raises?

The entire state, for all jobs, is going up to $15 eventually, just not all at once.

 

[160jordansdeep]

The takeaway here is that a substantial increase in the minimum wage is possible without having to substantially increase the price of goods.

That will never happen the reason their is an increase in minimum wage because everything is too high
Now with an increase in minimum-wage things will become more costly

 

[RustyShackleford]

The takeaway here is that a substantial increase in the minimum wage is possible without having to substantially increase the price of goods.

That will never happen the reason their is an increase in minimum wage because everything is too high
Now with an increase in minimum-wage things will become more costly

You wrong though.

Inflation is low right now, and it would not be out of control if the country went to 15. There are other concerns but that isn't really one of them.

 

[rexanglorum]

The $16 to $25 an hour crowd has to be the most insecure group of people on the planet. They really have proven the sociologists right, all that matters is not being in last place. As long as the welders and pharmacy techs can look down their noses at "burger flippers," they don't mind how little they make and how much their boss does make.

As far as the economics are concerned, there is a small amount of inflation and disemployment effects when the minimum wage is increased. Most of the minimum wage increase gets paid for out of company profits.

Think about it. If businesses could completely offset the increased labor cost with some combination of price increases and capital substitution, they would do so. If minimum wage increases did not reduce profits, businesses would not be working so hard to stop minimum wage increases from becoming law.

 

[AZwildcats]

The $16 to $25 an hour crowd has to be the most insecure group of people on the planet. They really have proven the sociologists right, all that matters is not being in last place. As long as the welders and pharmacy techs can look down their noses at "burger flippers," they don't mind how little they make and how much their boss does make.

As far as the economics are concerned, there is a small amount of inflation and disemployment effects when the minimum wage is increased. Most of the minimum wage increase gets paid for out of company profits.

Think about it. If businesses could completely offset the increased labor cost with some combination of price increases and capital substitution, they would do so. If minimum wage increases did not reduce profits, businesses would not be working so hard to stop minimum wage increases from becoming law.

Which is mindblowing to me, because $16-25 per hour is really not that much