The reason so many businesses are failing is because minimum wage makes it so people are unable to buy goods or services that aren't essential.
A higher minimum wage is good for the economy because people will be able to spend more.To meet the increased demand, companies would have to hire more people.
Kys. You want higher wages? Deport immigrants and lose women workforce.
That may be so, but I fucking hate niggers, and I will never forgive you fucking faggots for bringing them here, so I will happily join a corporate death squad and liquidate you in extermination camps before working with you in any way
Wh*Toids
yikes
>That may be so, but I fucking hate niggers, and I will never forgive you fucking faggots for bringing them here, so I will happily join a corporate death squad and liquidate you in extermination camps before working with you in any way
Implying that communists and socialists brought illegal immigrants em masse when it was actually the neoliberal multinational porkies. Grade A cuck right there.
OP is a faggot who does not understand the concept of supply and demand in terms of the job market.
>Higher minimum wage
>business now charge more for goods and reduce staff to save martins
>unemployment increases
>price of inelastic goods increases (rent, groceries)
>min wage employees spend increased income on nontaxed goods (crack)
> the increase in money now entering the economy won't be larger than the wage increase so businesses cant possibly hire more as a result. 99% wont spend 100% of an income increase on local goods.
End results rent increased, basic goods increase, less total jobs available, unemployment increases
*plans to import all of Africa into the West regardless*
pssh nothin personal oppressor
Let do socialism as long as I'm the boss!
>price controls work goyim
pulling an assumption out your ass
it's because employers pay based on supply and demand rather than productivity that we have this problem, a burger flipper makes their employer around $17 an hour. I'm not advocating employees get $15 of it but they should get more than $50.
>business now charge more for goods and reduce staff to save martins
This is an oversimplification. No one company has a monopoly over any market, and because of this they have to keep their prices competitive. And, again, people would be able to buy more from companies that are successful.
Stfu memeflag
The only reason your school of thought still exists in Western society is due to the goodwill of neoliberals and your "movement" having been completely coopted by them.
Bullshit you fucking anti white psycho pigs are to blame for all this. You filthy vermin are STALINIST you need to KYS
why does wage have to be an economic issue?
employers should raise wages because they want to not because they have to.
because we are fellow countryman and fellow humans
le human nature
Why the hell would you need a socialist symbol for a Keynesian basic economics knowledge of how to not fuck up capitalism?
You're not American so you shouldn't be this naive.
>No one company has a monopoly over any market, and because of this they have to keep their prices competitive.
Unlike monopolies, oligopolies do exist and would raise prices, as they have been shown to do so historically in this scenario. As well, your argumebt only makes sense for elastic good, not inelastic goods such as rent/groceries. I can give you some citations historically of this occurring (it almost always does) if you're skeptical.
>And, again, people would be able to buy more from companies that are successful.
Most people wouldn't spend the excess 100-300$ in a manner that offers the yearly wage + benefits of a new employee.
The cost of a new employee for a business is actually greater than solely their wage. You have to factor in everything from benefits to training. Most employees are actually a net loss for their emplpyer for quite some time. That's while turnover is so deadly.
Min wage increases also hurt new\expanding businesses from developing into a sustainable stage.
*Offsets
>The cost of a new employee for a business is actually greater than solely their wage. You have to factor in everything from benefits to training.
No employer that trains people (if they even still exist) pays minimum wage so this doesn't affect them. In most states, benefits are at the employers discretion.
>Min wage increases also hurt new\expanding businesses from developing into a sustainable stage.
Depends on the business. Luxury/entertainment businesses benefit from people having more to spend. The only people that truly get hurt are food sellers which can't compete with supermarkets anyway.
Nope. The problem is, most jobs that benefit from higher minimum wage are nowhere near valuable enough to justify that level of pay, so instead of employing 15 people with very low qualifications, the employer weeds out most of their employees and instead hires 8 people with higher qualifications. This shuts less intelligent, less capable, and less educated people out of the work force and ensures that there will be a poor or homeless class of people that is entirely unable to be employed. This also leads to businesses being under staffed and employees being over worked, over stressed, and under valued.
If you want more people working, you should repeal all forms of minimum wage and let employers pay employees what they are worth. There will absolutely be more jobs as a consequence. Establishments will be cleaner and more efficient and job mobility will be higher. This is pretty simple stuff.
Consider the following:
Minimum wage was never intended to be a "living wage". If you are earning minimum wage after the age of say 22... kys and do us all a favor.
Ok lets say there is a job market of 10000 jobs (the size of the job market is at the mercy of government policy). And 5000 people in that market to fill those jobs. Well, the employers will obviously not be able to fill all the positions. So for employers to attract employees they would have to incentivize these prospective employees with high wages. Now inject let's say 15000 people into that job market. Suddenly the demand for employees drops and employers are able to drop the wages. It is now prospective employees that have to fight for jobs in a scarce market.
Why is this concept so difficult for people to wrap their heads around?
This is is a complex and multi-faceted problem and there is more that could be unpacked here but the amount of jobs available is really the core of it.
Employers are not obligated to pay you such that they do not achieve a wide margin of profit off of you. That is their prerogative and their's alone. How they go about their bottom line is their business.
However it stands to reason- that if an employer is able to make a wider margin of return from his employees due to the health of the economy- he will pay is employees more. And if he doesn't that employee would be able to find another employer who will, as we are assuming this scenario is in a healthy economy in which there are more jobs than there are people to fill the positions.
If you raise the minimum wage businesses respond by just raising the cost of their goods and services. It is just math combined with human nature.
>Increases pressure on smaller businesses which removes their ability to compete which in turn leads to stronger monopolizing of the market by multinational corporations.
>Transfers cost of competition onto the prospective employee as opposed to the employer.
>Results in inflation via increment of cost of goods due to higher production costs.
>To cut costs employers will often cut hours so as to avoid requirements to provide benefits for full time employees.
>Another avenue for cutting costs is to downsize by laying off the workers.
>Both of the above increases the cost of competition on prospective employees.
>Alternatively they increases pressure to have multiple jobs which increases competition and stress on lowest members on society.
>Incentivizes temporary foreign workers over native workers due to less governmental requirements on benefits.
>Same as above for illegal immigrants.
>Ultimately raising minimum wages hurts the lowest class of society the most.
It's a terrible idea and you're retarded for posting this bait, fuck off tankie or else I'll get the helicopter.
You are wrong
Shouldnt you be competing with the Chinese market for your own food? Chinese can pay more so you can pay. Neoliberalism baby.
The game is up. Your constant distortions, delusions and lies have gone far enough. Go fuck yourself you miserable cunt
that's it! out you go!
Why would everyone not just adjust the prices accordingly?
A boss has to pay 20/hr instead of 10 or whatever it is?
His costs go up retard he has to charge more for goods and services to adjust paying his wage cucks more money
>business now charge more for goods
Why?
Good post
t. Armchair labor economist
kek, ty
t. Smartass
> costs go up retard he has to charge more for goods
Price has literally no relationship to cost of production.
If there were no minimum wage there would be more jobs.
go fuck yourself on rainy island you britcuck
NO COMMUNISM
IT DOESN'T WORK
When you raise the minimum wage businesses just raise prices to make up for it. The idea that it leads to people being able to afford more is a myth. So aggregate demand won't change. all that changes is the price level.
you moron you shouldn't be importing shit skins that will work for pennies on the dollar lowering your wages if you want more money
>paying multiple humans instead of one monthly maintenance cost
kek
Kek, delusional fag.
Even if wages were several times higher, there is only so many good and services a person can take.
The problem ain't minimum wages, the problem is much, much bigger and no system will ever fix it because we are on average not smart enough to understand and accept that only an AI driven dictatorship could fix such shit.
But it’s true. If there are fewer workers to choose from, you’ll need to offer more to keep them, otherwise you’re free to cycle through as many workers as you want.