WSJ: $20 minimum wage coming for California’s fast food workers

When the $20 minimum wage goes into effect, two things will probably happen and one thing will absolutely happen: prices could go up, workers could get laid off, and CA will get more state income tax revenue.

Oh, and another thing, many union contracts in CA have their pay scales calibrated to the minimum wage. This new minimum wage will now give those union workers a pay increase.

https://twitter.com/WSJ/status/1701386417773985985?

 

Or you can just be a smash and grabber and make 200 dollars a minute for 5 minutes a day and be back home in time to change into your BLM clothes to march for reparations

 

Why does no one cite CEO pay increases for increasing the cost of goods?

 

Have you seen the salaries of actors and athletes? Do you think lowering what they're paid will lower ticket prices?

The head of Google was paid $228 million last year.

 

What do actors and athletes have to do with the conversation?

 

I would support it in the big cities, where rents are typically $2k for a one bedroom.

Out in the rural areas or areas where life is not as expensive, , like Hemet, Indio, El Centro, etc, maybe $15 would be more appropriate

 

Why not raise it to $100./hour and then everybody will be rich!

Isn't it great when complete morons make public policy?

 

You’re being silly.

Do you agree that labor is a resource?

 

Where were you during Econ 101? Increasing the minimum wage hurts low earners the most because it eliminates entry level jobs. There are many jobs where the worker does not produce $20.+ of value.

The best system is to have no minimum wage and allow the market to regulate wages based on productivity.

 

Because for the most part, CEO pay does not come from company coffers.

It comes from Wall Street and the increasing value of stocks, which is a separate pool of money.

 

The job sets the wage, not the other way around.

 

So why would someone be an EMT and deal with bodily fluids when they could make more flipping burgers? This is another mindless move by the same people that brought you sidewalk feces and tent cities.

 

Such as?

Maybe you should update your understanding of economics. Most economists no longer agree with you.

 

Do you agree that labor is a resource?

 

If the burger flippers are making enough to entice EMTs, then their pay will need to be increased to stay competitive. A rising tide lifts all ships.

 

Because they have a fiduciary duty to shareholders. Effective CEOs don't work cheap. Cheap CEOs are not good for profits. Do you own any stock?

 

Oh, so then let’s give the minimum wage employees stock options.

 

Right about the time we left So Cal, Hemet was starting to boom.

 

Nope.

Do you think Elon Musk is a good CEO?

 

And then these $20.hr workers go to buy their needs from these businesses paying their own unskilled employees $20. and they are no better off than before.

The only one getting a raise is the tax man.

 

Yes, but all those ships are still in the same position relative to each other.

 

Yeah, what's the point in working when the left just let you steal at will?

 

They've never been paid better and the service has never been worse.

 

Price increases associated with minimum wage increases tend to be rather weak. Certainly not enough to offset the benefits to the worker.

 

Replacement is what will happen, fast food restaurants are already experimenting with this and an action like $40k a year for extremely low skill and easily automated positions will only ramp it up.

This will eventually be carried across the United States eliminating the bulk of 3.8 million jobs in this sector.

This is only the tip of the iceberg but I will be glad when my order is correct.