Will the minimum wage increase in Colorado starting Jan 1 affect anyone either positively or negatively? Depending if prices go up at restaurants, I may cut back on going out to eat- which will be a good thing all the way around [PizzaHut]
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Will the minimum wage increase in Colorado starting Jan 1 affect anyone either positively or negatively? Depending if prices go up at restaurants, I may cut back on going out to eat- which will be a good thing all the way around [PizzaHut]
I've seen signs posted in several business explaining that there will be a rate hike due to the minimum wage increase. Camp Bow-Wow was the first place I noticed a sign, but I've seen others. The money has to come from somewhere, and the consumer is the one supplying the money. This cause and effect wasn't terribly difficult to predict.
At the time, the response was that the price increases are justified to provide a living wage.
The counter argument was that the workers would face the same price increases and the net result would be the same effective wage.
Let the experiment begin!
[blaster]
I didn't get a raise though, so this was a net loss for me. I am now poorer as a result, and thus more equal to the minimum wage earner. Which appears to be their end-goal; that we are all poor together, equally.
As a result of this increase, I now charge 3 cents for my opinions.
The consumer will lose.
The worker will benefit while working but will start losing when he ends his work day and transitions to consumer.
Many businesses will take advantage and raise price beyond just covering greater labor expense.
If you're unarmed, you are a victim
"As a result of this increase, I now charge 3 cents for my opinions."
Dang, quick give me your paypal account, and I will prepay!
[Coffee]
Not everyone is brave enough to dabble in Irving Opinions futures, I'd say you're in a great position to get in on this early. Especially since we all know prices will only continue to increase as the minimum wage goes up.Quote:
Originally Posted by BladesNBarrels
Quote:
Originally Posted by foxtrot
Sounds like we better use bitcoin for this venture!
I am accepting bitcoin and litecoin for my...(please pay to read rest of the paragraph).
The site is charging a 26% "fee" for Irving Opinions. Note that TABOR does not apply as this is not a tax.
ALERT: The cost of Irving Opinions may increase by >50% as Irving passes the "fee" rate on to consumers.
ok, being as I don't read nor watch the fake news outlets (i.e. all of them)I missed this
what is at now and what is going up to?
Fortunately my annual raise should be enough to offset the minimum wage increase. In other words, the minimum wage donkeys get an extra dollar and I get an extra dollar. So effectively everything cancels out and neither of us is any better off.
At least we can look forward to increased efficiency in the fast food industry. Now that they’re starting to make more money like they say they deserve I’m sure their effort and dedication to their job should go way up.
Inflation and fewer hourly jobs. Reduced purchasing power for hourly workers. Sounds perfect. They'll soon be replaced by automation.
Stupid liberals.
Sent from my electronic leash using Tapatalk
Outsourcing...Quote:
Originally Posted by Irving
http://www.drawinghowtodraw.com/step...e-simpsons.png
My giveashits are still free, if you can get me to turn loose of one.....
Anyone notice the new ordering kiosks at fast food joints? McDonalds in highlands ranch also has a drink robot for drive through.
In November 2016, Colorado voters approved Amendment 70, a plan to raise the wage for any non-tipped worker in the state from $8.31 per hour to $12 an hour in three steps by 2020.Quote:
Originally Posted by JohnTRourke
In 2017, the minimum wage went up to $9.30 per hour.
On Monday, Jan. 1, Colorado's minimum wage will increase to $10.20 per hour ($7.18 per hour for tipped employees).
FIFYQuote:
Originally Posted by ray1970
Economics 101:
If you raise the price of something, you get less use of it.
Progressives were sleeping when that was taught
Yes, but that also applies to the dollars in discussion. Hence, the increase to account for not only inflation of the currency itself, but the factors for which those dollars are intended: cost of living. This is skewed because of the non-commodity based funny money we have. Fiat currency with no backing standard is utter bullshit. It's the most glittery of unicorn farts.Quote:
Originally Posted by bryjcom
When buying power is reduced, one needs more to do the same things. Look at Venezuela or the Weimar Republic and how utterly useless their cash is/was.
All in all, we are a poorer nation and the minimum wage increase as a necessity to account for other factors being inflated is merely a symptom.
It would be absurd to say someone from 1968 to say, "hell, I went through college with no debt, bought a house, and my wife stayed home, all on 30k a year!" to someone today.
Example: 1913 $1 = ~$0.4; should someone from 1913 be alive and balk at the minimum wage in 1968 (~$1.60), because "I made a nickel an hour in my day!". Well good for you. Your nickel is now worth ~$1.60 in buying power in 1968.
But other factors rose too, and not in an equal fashion, so the buying power is reduced further.
With the only standard for currency value to be whatever TPTB come up with, we'll continue to see these symptoms increase until it blows up in a massive, horrible, global economic disaster.
I better start saving up for those snowy days. That milk and bread is going to get expensive.
I think the point was that saving without return on savings lowers your purchasing power.Quote:
Originally Posted by ray1970
I guess that leaves bitcoins as the inflation hedge.
Even Irving is accepting bitcoins and litecoins now.
Dang, I switched everything to Riddle at 75 cents per unit - (riddle me this and riddle me that)
[panic]
For a business to employ people, those employees need to return greater value to the business than they are paid (otherwise the business goes bankrupt). The problem with raising minimum wage is that a certain segment of the population is not capable of returning value greater than that minimum, thus, they become unemployable. The higher the minimum wage, the more unemployable people will suck the public teet that is funded by our tax dollars. It is part of the Democrat plot to ensure their voter base expands. Thus, we are ALL affected negatively.
Speaking of Econ 101, why is it that so many Americans are clamoring for more corporate taxes. "Corporations should pay their 'fair share'!"Quote:
Originally Posted by bryjcom
I still remember from grade school; "Corporations don't pay taxes. Taxes are passed along to the consumer in the form of higher prices."
If you're a consumer of whatever the corporation produces, those same idiots demanding business should pay more in taxes are begging to pay more tax by proxy. The stupid is strong with these people.
Businesses are not charities or non-profits. A mandated higher expense to business is going to be passed along to consumers and/or the business will have to reduce their costs of production. Labor is usually the largest expense on the balance sheet and is the biggest target for reductions.
Liberals in government seem to think that the world we live in is a zero sum game. It's absolutely not.
"living wage" = less opportunity
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All very good points folks and I agree wholeheartedly. Please keep 'em coming as I need talking points when this issue rears its ugly head from the liberals at work.
I have good friends who own restaurants and they WILL be increasing their prices across the board and decreasing staff hours based on seniority.
Should keep prices the same. Add a "Colorado minimum wage" surcharge to every ticket.Quote:
Originally Posted by KS63
The McDiddy at Loveland has ordering Kiosks now, if minimum wage workers becomes more expensive then employers with the ability will replace them with machines that do their work without asking for more pay.
There will be no good OR bad. it will be good and bad. Only true way to find social benefit/cost analysis is gather data afterward and compare it with economic benchmark.
You're absolutely right about inflation. The difference between the two is inflation is a natural market reaction to a increase monetary supply where as the minimum wage increase is an artificial price increase not dictated or demanded by the market.Quote:
Originally Posted by CavSct1983
If labor prices increase naturally to $10 and hour its because of a low supply/high demand for labor. Inflation is just a "constant" of which to measure the monetary market.
I knew that some way, somehow, my tax cut would be offset or negated, the increased cost of living will be higher than any benefit from a tax cut. Thanks .gov for screwing me again.
No, they know what they're doing. They're tricking people into thinking they're "looking out for the little guy" by raising minimum wage while at the same time knowing they're increasing unemployment of the unskilled and thus creating more dependency on the state for sustenance ... its a win-win for them. They get more voters and thus more power at the expense of the very people they claim to want to help.Quote:
Originally Posted by bryjcom
Yeah... The "higher ups" probably know that and I have no doubt that they see and understand that cycle.Quote:
Originally Posted by Zundfolge
The everyday, "useful idiots" don't though.. These are your run of the mill democrats that you see everyday. They're the ones that say, " I feel" and " I think" and let their emotions dictate their public policy.
Given that this "experiment" has been going on in Seattle and other cities for a few years now, I think enough data exists to extrapolate the cause/effects here in CO. Seattle has seen higher rates of unemployment, many businesses going under and people fleeing the city to move to places nearby yet outside of the immediate imfluence of the higher wage costs (ie. Away from the higher costs passed on to consumers). At least that's the latest data I read around mid-2017.Quote:
Originally Posted by MrPrena
ETA: I failed to mention that WA also has a minimum wage increase schedule which is not as "profressive" as Seattles. Apparently, Seattle-ites felt the states efforts were too little, too slow for them.
From this WaPo article published June 26, 2017: https://www.washingtonpost.com/news/...=.5083abb5ea25Quote:
"Seattle's Minimum Wage Ordinance went into effect on April 1, 2015. The Minimum Wage Ordinance sets wages for the City of Seattle and will gradually increase to $15.00/hour and higher with adjustments for inflation. Schedule 1 employers shall pay each employee an hourly minimum wage of at least: $11.00 by April 1, 2015. $13.00 by January 1, 2016. $15.00 by January 1, 2017."
(For WA state). "Minimum wage. Initiative 1433 was designed to increase the minimum wage from $9.47 in 2016 to $11.00 in 2017, $11.50 in 2018, $12.00 in 2019, and $13.50 in 2020. Beginning in 2021, the minimum wage will be adjusted with inflation."
While the study came after CO chose to emulate WA, the evidence of the failure of this sort of effort has been seen since day one. But then again, when did a Liberal ever let facts get in the way of their agenda. The end result is clear; this isn't to help low wage earners, it's to eventually give the .gov more control over more and more people.Quote:
When Seattle officials voted three years ago to incrementally boost the city's minimum wage up to $15 an hour, they'd hoped to improve the lives of low-income workers. Yet according to a major new study that could force economists to reassess past research on the issue, the hike has had the opposite effect.
The city is gradually increasing the hourly minimum to $15 over several years. Already, though, some employers have not been able to afford the increased minimums. They've cut their payrolls, putting off new hiring, reducing hours or letting their workers go, the study found.
The costs to low-wage workers in Seattle outweighed the benefits by a ratio of three to one, according to the study, conducted by a group of economists at the University of Washington who were commissioned by the city. The study, published as a working paper Monday by the National Bureau of Economic Research, has not yet been peer reviewed.
Co minimum wage is increased to 9.30 to 10.20.Quote:
Originally Posted by theGinsue
% increase relative to % increase relative to price indicies, cpi, and inflation is at par or below.
Now, if minimum wage is going to $15+/hr like king county seattle, it would be approximately ~350% increase of all economic growth.
Eta: as mentioned if CO goes huge change like WA did, it will definitely have huge side effects.
So...we're just cutting off our noses a slice at a time. The end result will be the same. The driver to increased wages should be related to the economics of doing business, not some arbitrary number pulled out of someone's lower abdomen to make themselves feel better without regard to reason or logic.
I should get back into automation; putting a hamburger together with a robot can't be that hard.
Automation is coming one way or another to the service industry. It will be disruptive. This sort of thing increases the demand for it.