Seattle to increase min wage to $15/hour

[Mazin]

I was hearing on a news article that they don't pay interest per say, but it's like they give you a share of future earnings. Sort of like stock. So while you'd repay the loan with no interest, you'd also give them, say, 10% of your earnings.

Still a dumb idea.

hmm I still think I would rather keep my profits and pay interest. Thanks for the explanation!

[JohnnyDrama]

A lot of good ideas on economics here. I got nothing to add. This thread does bring to mind one of my first jobs stocking vending machines for the man camp and work areas around Parachute in the early 80s. I was still in high school and only did this over a spring break and weekends but will remember it always. We were up at the crack of dawn to load the vehicle with pop and candy bars then head up the hill. We'd open the machines and begin stocking as needed as we worked our way up to the mine. Quite often things would shut down and there would be a rush of workers to the machines when they'd buy the products directly form me. My partner - the boss, who could drive- would continue to stock the machines. We'd work through our day and stock the machines as needed, or sell directly to the workers through the routine we had established. It was meaningful (to me) and it was fun. I don't remember what the minimum wage was back then but I'm pretty sure I got more than that. But really it wasn't about the money. I did it because I got to be a part of something. I knew it wasn't going to be a career but it taught me a lot. The inflation, job loss, and general decrease in living standards, this is what I fell increasing the minimum wage will destroy.

[Circuits]

The inflation, job loss, and general decrease in living standards, this is what I fell increasing the minimum wage will destroy.

Minimum wage laws guarantee that only those worth the wage will have jobs, except for government positions. Unfortunately, the social services and entitlements means those who can't or won't cut it don't have any downside to not being worth their minimum wage pay rate, since they probably make more on unemployment benefits than those who still have jobs.

[Joe_K]

Having ANY minimum wage makes about as much sense to me as having a maximum wage.

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[Skip]

Having ANY minimum wage makes about as much sense to me as having a maximum wage.

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And Libtards intend to implement both.

Not for their elite, of course. Just to make sure everyone else is equally poor and dependent on gov.

I'd like to see how certain professions that pay marginally more make out. For example, my wife didn't make much more than $15/hour after school working in a community health center. Long hours, shitty conditions/patients/etc... Of course it got better with experience. What would be the incentive for someone like her to get into that field, requiring an Associate's degree, when she could go flip burgers for $15?

My first serious job (1999) paid $11.50/hour plus some overtime potential. After two years I was making $18. I've been able to work my way up and do much better now. If $15.00 was the min, there would be less budget to pay raises, and thus less mobility. So instead of making $11.50 for a few years and then doing much better, a person might be stuck at $15 for a long time. This will decrease the incentive to work up to a better job/pay. Incentives must be timely to be effective. I can't work hard for years, without seeing a reward, and be expected to continue working hard for a future that doesn't happen.

So I see this as one giant demotivation for young people.

[TFOGGER]

The libs are already bitching about CEO salaries, using them to justify this unsupportable minimum wage agenda.

[th3w01f]

My first serious job (1999) paid $11.50/hour plus some overtime potential. After two years I was making $18. I've been able to work my way up and do much better now. If $15.00 was the min, there would be less budget to pay raises, and thus less mobility. So instead of making $11.50 for a few years and then doing much better, a person might be stuck at $15 for a long time. This will decrease the incentive to work up to a better job/pay. Incentives must be timely to be effective. I can't work hard for years, without seeing a reward, and be expected to continue working hard for a future that doesn't happen.

Along those same lines, I think a lot of current minimum wage workers are going to get a wake up call when they have to compete for their job, against someone with real skills and an understanding of what customer service actually means.

[Gman]

The libs are already bitching about CEO salaries, using them to justify this unsupportable minimum wage agenda.

Like class warfare is anything new for those folks.

Bring on mob rule and government dependency!!!

[roberth]

The libs are already bitching about CEO salaries, using them to justify this unsupportable minimum wage agenda.

Of course they are.

They've instituted a command economy subset with the minimum wage, why not set a maximum wage too. I can't wait until they decide they're going to set product pricing at the R&D, manufacturing, wholesale, and retail levels.

[cstone]

Entry level wages suck. Jobs with low skills requirements have slow if any promotion potential.

Get an education and get some experience. This was true 100 years ago and it is true today.

Just some comparison on pay: http://www1.salary.com/E3-Private-Fi...rly-wages.html