So Biden is trying to get the 15 dollar federal minimum wage passed w/ Covid stimulus

[rawimpact]

Even if this is laddered to 15/hr it's going to take years before small businesses recover. The only ones that are going to be able to absorb this hit are corps and large profit franchises. According to bloomberg

in seattle where they passed steady increase to 15hr min

Wages increased by less than hours decreased, so the hike to $13 reduced the earnings of low-wage workers by an average of $125 per month. In a subsequent paper, these economists found that the gains from the wage hike accrued to more experienced workers.

https://www.bloomberg.com/opinion/ar...-recovery-plan

Lots of laying off/per diem going to be happening

[~primetime~]

yeah IDK...hard thing to calculate TBH...don't think anyone here could do the math on the effectiveness of this...there are definitely plus and minuses...not a black and white issue

I can see that Walmart and Target both start at $12/hr...so that right there is a shit ton of employees that will now suddenly get $15

Grocery store chains like Kroger and Tom Thumb can start at $10/hr...so huge boost to all those workers as well


Amazon on the other hand already had a min wage $15/hr...so this effects them none

[JohnnySic]

A lot of small businesses wont be able to pay $15/hr and will close, funneling more business to the Walmarts and Amazons. Wealth transfer continues unabated.

[BigKobeFan]

Democrats are low iq

I went to mcdonalds yesterday for a mcflurry and large fries. Cost me $8. Thanks california

[rawimpact]

Democrats are low iq

I went to mcdonalds yesterday for a mcflurry and large fries. Cost me $8. Thanks california

I dont understand why they want to slip in so much shit into the stimulus bills. Why do the dems care more about gender studies in pakistan over the livelihood of Americans in the US in present time?

[Doomsday Dallas]

A lot of small businesses wont be able to pay $15/hr and will close, funneling more business to the Walmarts and Amazons. Wealth transfer continues unabated.

This.

Big Corporations can afford it... Small Businesses can't.

another L for "we the people"

[~primetime~]

It's really hard to say...the millions of workers at large corporations now suddenly having more money will undoubtedly boost the economy...might even lead to more spending at small businesses.

It helps close the retarded wealth gap...it is taking money from the Walmart CEOs of the world and putting that money in the hands of those who need it.

And the Walmart CEOs of the world are richer than they have ever been right now, they are swimming in money...basically all of that stimulus money funneled directly to them.

[Doomsday Dallas]

It's really hard to say...the millions of workers at large corporations now suddenly having more money will undoubtedly boost the economy...might even lead to more spending at small businesses.

It helps close the retarded wealth gap...it is taking money from the Walmart CEOs of the world and putting that money in the hands of those who need it.

And the Walmart CEOs of the world are richer than they have ever been right now, they are swimming in money...basically all of that stimulus money funneled directly to them.

Walmart CEO's of the world just hire less people. Very simple solution. Less employees, more work for those that are still employed.

unemployment goes up when you raise the minimum wage.

[BigKobeFan]

Walmart CEO's of the world just hire less people. Very simple solution. Less employees, more work for those that are still employed.

unemployment goes up when you raise the minimum wage.

yup...or the lowly level employees go on part time so that way they can still leech off the government.

[ZenMaster]

I don't think you can legislate minimum wage and have it work.

Is there a provision for inflation? Or will people get a raise and then in 2025 they're back to making equal of what $10 is today?

[rawimpact]

It's really hard to say...the millions of workers at large corporations now suddenly having more money will undoubtedly boost the economy...might even lead to more spending at small businesses.

It helps close the retarded wealth gap...it is taking money from the Walmart CEOs of the world and putting that money in the hands of those who need it.

And the Walmart CEOs of the world are richer than they have ever been right now, they are swimming in money...basically all of that stimulus money funneled directly to them.

Walmart CEOs wont lose any money with these changes, it's their employees that will. How do you think the small businesses will cope with this considering the last 11 months they've had? Especially in blue states... I read CA is suppose to be opening up today

[Patrick Chewing]

It's really hard to say...the millions of workers at large corporations now suddenly having more money will undoubtedly boost the economy...might even lead to more spending at small businesses.

It helps close the retarded wealth gap...it is taking money from the Walmart CEOs of the world and putting that money in the hands of those who need it.

And the Walmart CEOs of the world are richer than they have ever been right now, they are swimming in money...basically all of that stimulus money funneled directly to them.

How does it help small businesses when they're all closed?

[Patrick Chewing]

Walmart CEOs wont lose any money with these changes, it's their employees that will. How do you think the small businesses will cope with this considering the last 11 months they've had? Especially in blue states... I read CA is suppose to be opening up today

He seriously thinks that the CEO's of this country are just going to sit there and watch their personal yearly earnings just continuously decrease year over year.

[RRR3]

If the minimum wage had risen with inflation it’d be like 22.50 rn and you idiots are whining about 15.

[BigKobeFan]

you do realize you can pass on the cost right? that's what i would do...

i see it like davis bacon wage jobs, you transfer on the labor cost as part of the overall product or service price. is it going to raise prices of everything? well...uhh yeah, but we're already there without significant wage increases. internet bill is $100+, electricity is $200 in winter, about $450 in summer. rent went from $1450 to $1650 during covid, inflation has been happening and the wages haven't kept up with it. this would bridge that gap a bit.

bring it on i say. i'd rather make 40% profit carrying $15/min. i start my workers at $16-17 anyhow. this just gives me a reason to pad on more overhead.

The low IQ have spoken...passing on the cost. You do know your $15 is worthless if everything else raises right. The rich has multiple ways to generate money, the poor, they have 1 job that they usually are not even good at.