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Thread: San Francisco Becomes First U.S. City to Top $10 Minimum Wage

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    Re: San Francisco Becomes First U.S. City to Top $10 Minimum Wage

    Quote Originally Posted by Harry Guerrilla View Post
    That's not correct.

    Other "poor" will pay more too, unless they just stop buying stuff.
    Wages and prices are interconnected, assuming that a business owner will just "make less profits" is naive.

    Some business owners are pulling a middle class wage, should one who makes $50k a year take a cut on their profits?
    You guys don't think very far into this.
    As I said, its a tax on everybody. The poor will pay a little more, so will everybody. But the poor will be making substantially more.

    Again, you're playing both sides, you're saying prices will raise but also businesses can't afford to take a hit in profits? Its either one or the other.

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    Re: San Francisco Becomes First U.S. City to Top $10 Minimum Wage

    Quote Originally Posted by Opteron View Post
    As I said, its a tax on everybody. The poor will pay a little more, so will everybody. But the poor will be making substantially more.

    Again, you're playing both sides, you're saying prices will raise but also businesses can't afford to take a hit in profits? Its either one or the other.
    No I'm saying that your argument is naive, if you believe this is just an more equitable division of wages.

    If anything, the benefit of a higher minimum wage will be realized immediately followed by a gradual increase in overall prices, resulting in the same situation as before.
    That's the best case scenario.

    The smarter person, would work in SF, while living outside of it, to best benefit from the wage increase.
    Otherwise it's a wash.
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    Re: San Francisco Becomes First U.S. City to Top $10 Minimum Wage

    Quote Originally Posted by Aunt Spiker View Post
    Yes - but that doesn't make them not be poor - everyone just earns moor. . . they're still the lower-class as far as stratification goes. I think it's disengenious to suggest otherwise.
    I think it comes from failing to understand that money is not wealth; it is only a unit by which wealth is measured and exchanged. And it is a unit whose value is not solid; which can vary according to conditions outside of itself. Reducing the value of the unit does not actually make anyone wealthier. More dollars doesn't mean more wealth, if at the same time, the value of those dollars is diminished.
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    Re: San Francisco Becomes First U.S. City to Top $10 Minimum Wage

    I fear this new law will simply force some companies to lay off workers, rather than dip into their own profits. people are greedy like that.

    the govt. can force a minimum wage....but they can't force folks to hire or not fire people.

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    Re: San Francisco Becomes First U.S. City to Top $10 Minimum Wage

    Quote Originally Posted by apdst View Post
    A minimum wage that is too high will serve the purpose of creating more unemployment.
    Which does not mean that a minimum wage that is not too high does not serve a constructive and valuable purpose.
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    Re: San Francisco Becomes First U.S. City to Top $10 Minimum Wage

    Quote Originally Posted by Harry Guerrilla View Post
    No I'm saying that your argument is naive, if you believe this is just an more equitable division of wages.

    If anything, the benefit of a higher minimum wage will be realized immediately followed by a gradual increase in overall prices, resulting in the same situation as before.
    That's the best case scenario.

    The smarter person, would work in SF, while living outside of it, to best benefit from the wage increase.
    Otherwise it's a wash.
    By your logic, when people raise taxes, wouldn't that cause inflation too? Because then everybody will just raise prices and then make more money etc.., be able to pay more in taxes? I don't think that happens. The money supply is limited.

    Don't forget, the poor will then be spending more and buying stuff with their wages, so that businesses will make more in revenue and have profits to balance it out.
    Last edited by Opteron; 12-13-11 at 05:06 PM.

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    Re: San Francisco Becomes First U.S. City to Top $10 Minimum Wage

    LOL, the irony of this is incredible.

    So, we're praising the minimum wage hike, but ignoring that San Francisco is about the most expensive place in the U.S. to live?

    Kinda like paying $30,000 for a crappy Prius in order to save money on gas.

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    Re: San Francisco Becomes First U.S. City to Top $10 Minimum Wage

    Quote Originally Posted by Harry Guerrilla View Post
    No I'm saying that your argument is naive, if you believe this is just an more equitable division of wages.

    If anything, the benefit of a higher minimum wage will be realized immediately followed by a gradual increase in overall prices, resulting in the same situation as before.
    That's the best case scenario.

    The smarter person, would work in SF, while living outside of it, to best benefit from the wage increase.
    Otherwise it's a wash.
    Not 100 % true, or at least not as you mean. The only wages that go up with a minimum wage are those below or possibly at minimum wage, which should be less than most of the workforce in an area. Furthermore, wages are not the sole cost in any product or service. So, while prices will go up, it is less than what wages will go up for those at the bottom.
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    Quote Originally Posted by Fiddytree View Post
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    Re: San Francisco Becomes First U.S. City to Top $10 Minimum Wage

    Quote Originally Posted by Opteron View Post
    By your logic, when people raise taxes, wouldn't that cause inflation too? Because then everybody will just raise prices and then make more money etc.., be able to pay more in taxes? I don't think that happens. The money supply is limited.
    Incorrect.
    The money supply is, almost always, expanding.

    Quote Originally Posted by Opteron View Post
    Don't forget, the poor will then be spending more and buying stuff with their wages, so that businesses will make more in revenue and have profits to balance it out.
    The poor and everyone else, will be spending more per item, than they previously were because businesses make adjustment to item prices based on expenses.
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    Re: San Francisco Becomes First U.S. City to Top $10 Minimum Wage

    Quote Originally Posted by Redress View Post
    Not 100 % true, or at least not as you mean. The only wages that go up with a minimum wage are those below or possibly at minimum wage, which should be less than most of the workforce in an area. Furthermore, wages are not the sole cost in any product or service. So, while prices will go up, it is less than what wages will go up for those at the bottom.
    While true, those minor expenses get priced into every item, where the increase has an effect.
    Even if the price increase were only .01 per item, you have to multiply that based on the number of transactions per person, per item where the increase exists.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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