Rantings and tirades of a frustrated economist.
Hahahahahahahahahahahaha...HA! Yep, raising the minimum that will solve "income equality" for the poor? Hahahahahahahahahahaha...HA! Enjoy your decline Seattle, you've earned it.
As a future techie who's studying Computer Engineering, this is why I support raising the minimum wage. Sorry Cappie, morals don't mean anything in this world and I will root for whatever benefits me.
Don't laugh too hard. We'll be forced to support them through welfare, unemployment, EBT, subsidized housing, etc. They'll be living modest but pleasant and comfortable lives without the worry and stress of work. We working suckers will be struggling daily just to pay the taxes.
They're doing the same thing in the UK, where there is a min wage much lower that $15 and really, when you consider management, scheduling and the machines employees already have to use these machines probably save money on $5 an hour. And a machine never calls in sick.
I'm looking forward to easier bespoke orders ...Every time I go to Mackey D's, I have to explain why I want a slice of cheese between my two pancakes, or why I want double cheese instead of meat and cheese on my Egg Mac, or why I want twelve sugars and five creams in my coffee, because it messes up someone's routine as to what I should want to order.Well, screw them, I want it my way, and I'm willing to give machines a try because I've often had it any way but my way at Mackey D's.Even if I have to pay extra for some of those sugars and creams, it will be worth it.
Here's some fun.Down and dirty math.Pay = 8$/hour upped to $15/hr$7 Change$7 multiplied by a 32 hour work week = 224 EXTRA bucks per person each week.224 x 4 weeks = 896 per month.896 x 12 = 10,752 extra cost a yearMultiply that by say... 1.5 million (the estimate number of Walmart employees) and you get16 BILLION 128 MILLION extra costs each and every year.Walmart's 2014 financial statement listed a net income of 16.1 Billion. This would literally cut 100%+ of a company's, like walmart, profit.Good Job left-os!
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