Why philosophical question would be, should minimum wage be raised, even with the deadweight loss, what is actually affected? How many minimum wage paying jobs are really out there? If we take your position, dro, with so few actually making minimum wage, where is the harm? Teenagers and young adults aren't known for excessive savings. So we stimulate the economy with their spending; a form of mid level trickle down economics.
Have you ever worked a minimum wage job? There's no 401K with contribution-matching. There's no Fellatio Fridays. I did turn 21 on the back of a ham truck at honey baked ham in Knoxville during one of the two or three holiday seasons where I worked there* to pay for a skiing trip to Colorado the following week**. And the manager did offer me a valium as a 21st birthday present. I guess that might have been considered an employer paid benefit. But I wasn't really into the idea of taking a sedative while loading hams from the truck to the refrigerator, and so I politely declined. *You could get in a shit ton of hours. They'd let you work 17 hours a day. **The UT Ski and Snowboard Club organized a weeklong trip every year, and it was reasonably priced, and so I did it most every year.
The absolute and automatic inflation from the hike is the part that hurts. The recipients end up where they were, but the millions and millions on fixed incomes are immediately poorer. Salaried employees are likely poorer too. The idea that the hike is something close to neutral for getting it and negative for everyone else makes me wonder how it gets real support.
Yes I have. In addition to salaries and wages, the employer will incur some or all of the following payroll-related expenses: 1.Employer portion of Social Security tax 2.Employer portion of Medicare tax 3.State unemployment tax 4.Federal unemployment tax 5.Worker compensation insurance 6.Employer portion of insurance (health, dental, vision, life, disability) 7.Employer paid holidays, vacations, and sick days 8.Employer contributions toward 401(k), savings plans, & profit-sharing plans 9.Employer contributions to pension plans 10.Post-retirement health insurance So none of this applied to the wages they paid you?
One place I worked at during college, they offered insurance for $200 a week. Yeah, I'm making 8.25, go **** yourself.
There shouldn't even be a minimum wage. Market forces have already made that wage scarce. I agree raising the minimum wage does nothing, so why do it? I've said before I'm not against raising it per se because it doesn't do anything, but I'm generally against pointless political acts. In particular ones that Obama and co are going to act like they are curing poverty with.
A person making $10k a year has $650 paid by an employer for their social security tax so that's hardly insignificant. There are also payroll taxes.
It was a crock of shit. I told the insurance salesman in the meeting to go **** himself and walked out. My boss didn't like it, but it is what it is.
because the municipalities and fed can coerce and there is no other reason. Why in the hell I pay unemployment insurance is insane.
I can't imagine what groves workers comp insurance costs. Mine is like $2k per employee and we are in an office. I've had multiple business owners tell me they'd much rather spend money on technology than the risk of a new employee
