Kraft Heinz, Conagra Will Start Passing On Soaring Food Costs To Consumers

#52
#52
evillawyer said:
That's not an argument for there being no minimum wage. That's just an argument for linking whatever the minimum is to cost of living
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That’s exactly what he has been advocating sister. It’s impossible to have a one size fits all number across the nation with a wide variance in regional cost of living.
 
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#54
#54
The Fed mandate if there must be one is that each state shall set a minimum compensation level pegged to some quantifiable number. That being said, a 16 year old kid working the grill at Micky D’s isn’t supporting a family or isn’t a head of household thus shouldn’t automatically be granted a “living wage” FFS.
 
#58
#58
evillawyer said:
Look into Australia. Highest minimum wage in the world. Hasn't destroyed their economy. Luxembourg has a high minimum wage as well. Strong economy. Seattle's economy has kept on humming even though they have a high minimum wage.
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1. Those countries you mention are also highly isolated by policy.
2. Seattle's unemployment is higher than the national rate. Seattle has the 8th highest rent average of major cities. $15 an hour makes 31,200 a year. Average rent is 1890 in Seattle. Which means your "livable wage" has to pay near 73% of gross pay to not live in the slums. Of course taxes make that number worse. Seattle is ranked fifth in most expensive US city to live in. Humming along nicely. This is an impressive rating:
Screenshot_20210217-110954_Chrome.jpg
 
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#61
#61
utvols88 said:
1. Those countries you mention are also highly isolated by policy.
2. Seattle's unemployment is higher than the national rate. Seattle has the 8th highest rent average of major cities. $15 an hour makes 31,200 a year. Average rent is 1890 in Seattle. Which means your "livable wage" has to pay near 73% of gross pay to not live in the slums. Of course taxes make that number worse. Seattle is ranked fifth in most expensive US city to live in. Humming along nicely. This is an impressive rating:
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No no no. You not supposed to actually LOOK at Seattle. C’mon man!
 
#63
#63
Vol8188 said:
But it will still create some level of additional inflation. Which makes the gap between the billionaires and the lower class even more extreme. Which will lead to even more demand for left wing economic policies.

Democratic politics is like the episode of it’s always Sunny where Charlie continually puts more and more cats in the wall in an attempt to get the first cat out. They attempt to continually add more and more regulation in order to correct issues created by regulation.
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Of course.
 
#64
#64
evillawyer said:
Then what's the controversy in raising it if it's impact is de minimis.
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If you were barely raising it you’d be right that it would be a minimal impact because only 1% or less of people make that but when you raise it to a point that it becomes more than what 10% or maybe even 20% of people make, now it’s an issue.
 
#65
#65
Democratic administration = more large corporations willing to make life miserable

Can’t let the dem crooks get away with taxing them and robbing them of subsidies.
 
#66
#66
n_huffhines said:
No. The diffused cost of the minimum wage hike will not offset the concentrated benefits for the people who are literally doubling their wages. For inflation to offset their gains in the next 4 years, it'd have to increase from about 3% per year to about 28% per year. That's not happening. Business owners would move more heavily to skeleton crews and automation, which is what creates the unemployment issue. Even if business owners didn't adjust, wages are only one of many input costs and thus doubling minimum wage wouldn't double prices to consumers.
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You got a like because you're looking at a bigger picture, but there are businesses so labor heavy that the cost would significantly increase.
We should expect a significant shift in entry level jobs to automation.... with many positions for "limited" individuals completely disappearing. Fast food will utilize more automated ordering, Robots will replace many "sorting type jobs. Industrial engineers will always find the most economical profitable way for a business to operate, so if you're not worth $15 per hour, guess what......you'll be guaranteed to vote democrat because you become a government slave.
 
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#68
#68
n_huffhines said:
No. The diffused cost of the minimum wage hike will not offset the concentrated benefits for the people who are literally doubling their wages. For inflation to offset their gains in the next 4 years, it'd have to increase from about 3% per year to about 28% per year. That's not happening. Business owners would move more heavily to skeleton crews and automation, which is what creates the unemployment issue. Even if business owners didn't adjust, wages are only one of many input costs and thus doubling minimum wage wouldn't double prices to consumers.
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Wages aren't the only cost of labor so no its not just one line of input. For many industries, you're right. But COL will increase. We have examples already of that difference.
 
#73
#73
Where does it say in the constitution that it's the government's job to insure that everyone can live where they want to live and have all the things they want? $15 per hour (and 40 hours per week) probably won't provide for a family of 4 in Nashville, but if that family moved to Madisonville, TN and you took a job in Lenoir City making $15 per hour working 50 & 60 hours per week you'd more than get by as long as everyone in the family didn't have to have a new iPhone, with unlimited channels on cable, and both parents smoke a pack a day, and play the lottery every day, and drink whatever... you get the point.
 
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#74
#74
utvols88 said:
Inflation and the correction for margin will put them back in poverty and likely even worse than before. It would also slide the scale of poverty because there won't be an immediate correction to more skilled jobs being paid more. So emts who are fine now will simply have higher bills and same pay. People who are full time with benefits will now be part time and have to buy their own insurances. Minimum wage hikes hurt the low and middle classes.
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You mean..... they will have to depend on the government for insurance? Wow... didn't see that coming.
 
#75
#75
Only idiots fail to understand that the real minimum wage is and always has been $0. That will be the case no matter what a braindead politician tries to legislate into existence.

Also, this jives nicely with watching my dad's epipen price double overnight once China Joe got in 👍🏻
 
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