numberwang said:
The US has higher wages than nearly all or most of europe. https://en.wikipedia.org/wiki/List_of_countries_by_average_wage https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita |
Well would be great to see how it is distributed between poor and rich
SpokenTruth said:
Yes, I am aware of this. I do live in the US. That said, I'm not certain what that has to do with my post. The wait staff are obviously exempt from both the increase to $10 per hour minimum wage and the reduction back to $7.70 minium wage. In fact, that shines further scrutiny upon the owner. The minimum wage increase to $10 likely only impacted a few employees and, as I stated previously, it's only a $92 per week increase. That 50% reduction in revenue is by far more of a problem than a few employees getting $92 per week more. A small, independantly owned restaurant will likely pull in ~$80,000 per month in revenue. This place being mid-tier means you can move that to ~$100,000 per month. That 50% revenue reduction dropped him to about $50,000 per month. That's huge. If 5 full-time employees went from $7.70 to $10.00 per hour, that's just $1,840 per month. |
It's probably hosts and a few food preps.
The article is classic brainwashing drivel. This guy didn't have to cut back on any of his quality if he didn't want to. He'd rather have the 100$ to fill the tanks on his jetskis/.
| OTBWY said: American wages baffle me. For 10$ and hour I wouldn't even get out of bed. |
We have lower taxes so our goods as well as the costs of living are far lower.
SpokenTruth said:
Yes, I am aware of this. I do live in the US. That said, I'm not certain what that has to do with my post. The wait staff are obviously exempt from both the increase to $10 per hour minimum wage and the reduction back to $7.70 minium wage. In fact, that shines further scrutiny upon the owner. The minimum wage increase to $10 likely only impacted a few employees and, as I stated previously, it's only a $92 per week increase. That 50% reduction in revenue is by far more of a problem than a few employees getting $92 per week more. A small, independantly owned restaurant will likely pull in ~$80,000 per month in revenue. This place being mid-tier means you can move that to ~$100,000 per month. That 50% revenue reduction dropped him to about $50,000 per month. That's huge. If 5 full-time employees went from $7.70 to $10.00 per hour, that's just $1,840 per month. |
I misread your first comment then, because I read it as "they should be paid far more than minimum wage".
As for the profitability of resturants, they aren't. It's the most violatile industry in more than half of resturants are expected to fail in their first year. It's the ultimate business of slim margins to somehow remain profitable. I'd be shocked if even a tiny resturants only had 5 employees though. Any place over 50 seats will require 3-4 hosts along on the payroll. Likely more with the expectation of turnover.
They don't pay you what you're worth but just enough so you'll keep crawling back
Anyway it is becoming a big issue in the USA, Unemployment => low but salaries hardly rise...Now just inflation has to grow faster and we are ready for the next crisis.
Anyway I employ massage parlors and my workers get paid bonusses by the amount of clients they have, I always prefered that system and more fair.
Jon-Erich said:
Unless your business involves running a youtube channel of being a web designer or something you could actually do on your own, that's impossible. You can't run a restaurant on your own. You simply cannot. In fact, with the restaurant business, you're probably going to lose money for the first two or three years before it takes off, if it takes off. In a small retail establishment, it may not be impossible to run it on your own, but still very difficult. What you're proposing just isn't economucally feesable, especially since some of the business owners can't even pay themselves a living wage. Also, under a business plan such as yours, all of your entrepreneurs would end up moving to the south since living expenses are far cheaper than the north or west coast. |
It is possible; it's called a food stand (or truck). There are tons of businesses you can start solo (or with equal share partners) that don't require expensive facilities or large staff until you're ready for them. No one owes you the type of business that does require them if you don't have the means or ingenuity for it. No one is entitled to a business they can't run properly. It's not okay to underpay your employees just because you want to be the boss but weren't born rich.
Jon-Erich said:
Switzerland doesn't have a minimum wage and they seem to be doing great. In fact a few years ago, they had a national referendum to have a $25 minimum wage and the voters voted it down because most people there apparently make more than that. Having that artificial standard would have given some business owners the insentive to pay pay people less. That's what a minimum wage does. It creates an artificial standard that is not reflective of the state of the economy or the marketplace. Depending on the wages, having a minimum wage could either cause someone to get paid far less than what they should be getting paid or far more than what is economically viable, much like what we're seeing in Washington state. If the wages were more reflective of what the marketplace demanded, most people probably would be making a decent wage, just like in Switzerland. Then again, Switzerland hasn't been involved in a war in over 200 years and is far more fiscally responsible than the United States, which is largely why that country so well off economically. |
Sorry, but I don't get how minimum gives insentive to pay people less compared to no wage law. It creates a minimum standard but doesn't stop businesses from paying more or workers from asking for more. The same as as if there is no law, but it prevent businesses from going lower. All it is is a safety net, so people who are desperate, mentally challenged, foriegn workers, and uneducated do not get taken advantage of. I'm ignorant of Washington State. But if a business is not making money, it is their fault for being ineffecient, a more efficient business will take it's place.
We have minimum wages here at $9.25 and most of the jobs we have pay well above it. For example, I work at a supermarket, most employees get over 50% the minumum wage. Courtesy clerk aka bagger starts at around ~$11-12 for new employees and endup at ~$16-17 after X amount of hours. And I am pretty sure even the local McDonalds pay over it. No wage laws creates situations like what the US saw in the past, when workers mostly foreign workers/immigrant were working under unfair conditions (thats an understatement).
Jon-Erich said:
Switzerland doesn't have a minimum wage and they seem to be doing great. In fact a few years ago, they had a national referendum to have a $25 minimum wage and the voters voted it down because most people there apparently make more than that. Having that artificial standard would have given some business owners the insentive to pay pay people less. That's what a minimum wage does. It creates an artificial standard that is not reflective of the state of the economy or the marketplace. Depending on the wages, having a minimum wage could either cause someone to get paid far less than what they should be getting paid or far more than what is economically viable, much like what we're seeing in Washington state. If the wages were more reflective of what the marketplace demanded, most people probably would be making a decent wage, just like in Switzerland. Then again, Switzerland hasn't been involved in a war in over 200 years and is far more fiscally responsible than the United States, which is largely why that country so well off economically. |
Switzerland also has hundreds of collective bargaining agreements covering the majority of its workers which actually does impose a minimum wage, which is the 9th highest minimum wage in the world, so it isn't exactly entirely accurate to imply that the Swiss have no minimum wage. They just handle the concept differently.
I wouldn't oppose the USA shifting over to that type of system, but it would require some pretty massive changes (which I would assume the people against minimum wage would hate)
| JRPGfan said:
Minimum wages are there to protect the workforce from the corporations. |
Actually, minimum wages were created to keep black people out of the workforce. The modern "intentions" may have changed, but the outcome is still very much similar.
http://www.latimes.com/opinion/op-ed/la-oe-0405-leonard-minimum-wage-20160405-story.html
https://fee.org/articles/the-eugenics-plot-of-the-minimum-wage/
https://mises.org/blog/minimum-wage-and-progressive-eugenics-again
https://www.princeton.edu/~tleonard/papers/retrospectives.pdf
https://newrepublic.com/article/128144/dark-history-liberal-reform
http://reason.com/archives/2016/06/12/the-secret-history-of-the-mini
Some people in here are saying it would hurt business owners to keep the minimum wage higher, but owning a business isn't a right, it's a privilege. If the only way you can own a business is by underpaying employees, then you're not doing a very good job and it might be time to consider something else.
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