He admitted it. He said they did a lousy job of managing the restaurant. Whether you want to call it stupid, inept, whatever-he directly admitted they didn’t do what they needed to do to keep the place open.
You make it sound like the increases in wages are solely due to workers being forced to find additional employment outside of Seattle. That is not true.
A small but not negligible portion of experienced workers in the study group sought employment outside of Seattle. Averaged across quarters, the effect amounts to about 7 hours per quarter or just over 30 minutes per week.
Even according to the excerpt that you quote, the effect is “modest in magnitude.”
It would be a lot easier to talk about this subject if you weren’t so intent on winning a debate that we’re not having.
I sincerely hope you keep reading the papers published (and yet to be published) by the UW Evans School and listen to the podcast that I linked to earlier in this thread. It’s good stuff.
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Making the same amount with less hours is like bad or something
Maybe Zantax turned down raises cause he didn’t want to net less?
The thing with minimum wage though is that there is not a shortage of low wage / minimum wage jobs. The job market can handle those jobs. Even if you net less at one job with less hours, you can make up for it with a 2nd part time job. So, same hours more pay.
It’s either pay for a large social safety net through taxes and bureaucracy, or have business owners pay for the social welfare of their employees. It is one or the other.
And, if this speeds up inflation on the back-end of the cycle, and the fed keeps the rates where they are, the real value of our debt decreases.
you are right there is no shortage. yet.
what do you mean “the job market can handle those jobs?” if there were no min wage there might be more jobs avail for those who want a second job at slightly less pay
business owners already pay for “social welfare” in their taxes, and health care if they contribute, and unemploy tax, etc
how much more should they be forced to pay ?
Why are you a science denier?
Missed the telling take away huh? Wages paid to poor people in Seattle decreased.
estimates conclude the total amount paid to low wage workers in Seattle declined by 6-7 percent (Jardim et al., 2018)
Yes, people could work 60 hours a week for the same pay as 40. That is, if you want a miserable society.
If minimum wage takes more people off of social welfare than it is a zero sum game for the businesses on a macro level. And it’s not just businesses who pay state and federal taxes. The workers with the higher minimum wage would be paying more into it as well. So, you increase tax revenue by getting rid of many forms of social welfare by replacing with higher minimum wage. At least higher minimum wages are jobs teaching skills, rather than passive checks in the mail.
I would be ok with cutting business taxes in conjunction with minimum wage hikes
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Business owners don’t pay for anything. They pass their costs on to consumers.
This is true. They pay for nothing. What ya’ll worried about then. Must be nice not paying for anything but reaping most of the benefits. Where do I sign up? Sounds like some good ole fashioned welfare.
I didn’t say they didn’t pay for anything, they risk their capital to create jobs. But they don’t pay taxes, their consumers and clients do. If you think what they do is easy, go get rich and help poor people with the profits.
Ok
Yes. Thank you for letting us know that businesses use revenue to pay for operations and taxes. I had no idea.
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Where did I say it was easy? It’s also not easy living off of minimum wage. What’s your point? Some people catch a break others dont. Some people work hard and succeed other people work hard and get laid off or fail. And it is structural. Not everyone can own a business, because you then wouldnt have employees.
Anyone can own a business, not everyone can succeed at it, doesn’t cost much to start a business. I started my first one for 3k but I know plenty of people who started them for less. The lady who cleans my house owns a business and she’s doing quite well. All she had to do to be successful was show up on time, do the job and not steal the silverware, not exactly an insurmountable obstacle to success. She didn’t catch a break, she worked hard.
Anyone can join the NBA. Not everyone can succeed. Not succeeding isnt a reflection of your hard work. There are structural limits. Only so many teams and so many players allowed.
Just because someone doesnt succeed, doesnt mean they are inherently lazy or stupid. You can pull all the right levers and do everything right, and you still might fail. Because if everyone owned a business, you wouldnt have workers.
And by the way, I’ve met some business owners who are idiots and immoral, but have an ability to sell ■■■■■■■■■ Like Trump. It doesnt make them more hard working. It just makes them ■■■■■■■■ who caught a break
Business and playing in the NBA aren’t the same thing. There aren’t many physical requirements to succeed in business. Nor do you have to be spectacularly successful to earn a living. There are a lot of blue collar successful people working for themselves that live in my neighborhood right along side of successful executive corporate people. There is no sane way to have equal outcomes. And it wouldn’t be “fair” if there were. Why should someone who puts forth little effort to work and succeed reap the same rewards as someone who does?
Because life’s not fair.
so you think he’s stupid too now
funny how the narrative evolves
not seeing how it becomes a “0 sum game” when someone works min wage job.
also not sure i agree with high min wage reducing welfare payout
even without a min wage those willing/able to work would do so for lower paying jobs
