Minimum Wage

there are a lot of idiots on /biz/

>>1757439

You do realize that just because a company is big it doesn't mean their margins are better than small companies, right?

Example, let's say there is company A that made 10 million dollars profit in a year and company B that made $10,000 profit in a year. It seems like company A makes more "profit", however company A employs 2000 people and company B employs 15. In this case company B actually makes 50% more profit than company A.

>>1757439
Because you can't centrally plan out the economy, it's not an autistic day dream, it's real life

>>1757439
I believe this is the case in some states.

>>1757475
That's what I meant by big. Big as in profit-wise. My bad for poor clarity.

>>1757439
The government already does this by requiring different min wages for different types of job for gov contractors.

they don't force most businesses to comply with those min wages because Republicans hate getting paid more and constitute a significant voting bloc.

>>1757540
What do you mean? It's the governments' job to plan out the economy. Legislators work on the minimum wage, Fed bankers can indirectly control for inflation by changing bank interest rates and changing discount rates by increasing loan rates to regional banks.

>>1757609
>Big as in profit-wise.
you've got a conflict of interest there.
Companies that make big profits are all small.
you could squeeze small businesses and make them pay more, or you could encourage them to grow using those excess profits.

The SBA can tell you which option is preferred in the US....

>>1757611
Are you referring to how restaurant waiters and other tipped services have super low wages? I know that's the biggest example of a specific job having lower minimum wages than other jobs.

>>1757614
Oh really? So the ones who have the biggest *relative* profits are the businesses that are growing, like start-ups? That makes sense.

>>1757615
no, I'm referring to Davis Bacon wage standards and the annual list of minimum wages the US government publishes for its contractors.

if you do business with the US government (and most companies in the US do) then you've got a different set of minimum wages than the rest of the country. Depending on job type.

>>1757617
yes, as other anon points out, small businesses tend to have much larger profit margins than large ones.

there's a cross-over point where you grow to a certain point and margins drop. The US government tries to get companies past that point.

>>1757615
For example, the current minimum wage for any full-time employee of a business that sells to the US government is $10.10/hour.

in reality the minimum wage depends on location and job. For most employees of federal contractors the minimum wage is above $15, with a significant fraction having a minimum wage over $25/hour.

added to that is federal standards regarding paid vacation and health benefits much better than the average worker. Government contractor's employees get paid about as well as government workers. By law. This law covers something between 1/3 and 1/2 of companies in the US last I checked.

>>1757439
Everyone in that pic looks like a lazy sack of shit. Like "that guy" who shows up late every day to his cashier job

>>1759061
Ageism much?

I would rather the poor starve to death so they don't have retarded children who will also be poor and work minimum wage jobs.

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>>1757614
>Companies that make big profits are all small.
>you could squeeze small businesses and make them pay more, or you could encourage them to grow using those excess profits

>encourage them to use excess profits to make less profits

Or you know, you could just stop trying to overcomplicate things by tiering businesses based of their annual profit. Additionally if you truly understood the US tax structure for the businesses, you'd understand that most companies have the ability to write shit off to the point to where you aren't making money on paper. Your shit idea simply isn't enforceable.

Minimum wage only affects shit workers performing basic tasks that are likely to be automated within the next 10 years. The only time I worked for minimum wage was when I was in 16. Even in high school I managed to get promoted at a shitty retail job and was making 12/hr..in 2007.

The issue isn't that businesses don't pay enough, the issue is that workers don't apply themselves, most people are content in doing the same shit every day for the rest of their lives. Go work in government if that describes you. Otherwise learn to develop skills, test your comfort zone and move laterally if necessary. You are solely responsible for your situation anything else is an excuse to help out your fee fees.

>>1760095
If you are over the age of 25 and still working a minimum wage job you need to kys asap.

>>1760152
>encourage them to use excess profits to make less profits
ah, you don't understand the difference between profit margin and profits as a sum.

I have a much larger profit as a percent of sales (profit margin) than Microsoft.

Microsoft has a lower profit margin than me but much more profits.

this is typical. Small businesses usually have much larger profit margins than large ones.

you're welcome.

>>1760339
So, that's your solution to these folks then?

Nice.

>>1757439
>Min wage was created to keep the unskilled out of the job market
>Unskilled workers always trying to promote min-wage
>Get priced out of their jobs

What a bunch of retards.

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Labor is a commodity subject to supply and demand. Reduce the supply, then with a consistent demand, the price of that commodity will rise.

Tl;dr build wall

>>1760926
>Labor is a commodity subject to supply and demand
people aren't just labor, they're also the consumers of labor.

in that case demand can only increase if supply does.

building a wall won't employ that many people for very long. And most of them will be Mexicans.

>>1760935

His point was that if you build a wall and send the illegals back then unskilled labour will become more scarce so wages will rise for unskilled U.S citizens.

>>1757439
>What if instead of trying to raise the minimum wage, they based minimum wage laws on the budget of the employers?
Companies that pay low wages tend to run very low profit margins. Wal-Mart, for example, runs on about a 3% margin. What exactly is your plan here?

>>1757439

if you can be paid a minimum amount, you can be automated away.

>>1757439
You might end up with a situation where small businesses act as proxies for big businesses. Even if a big business doesn't fund a small startup for a particular purpose, another small business could fill the niche it wants, so it is difficult to legislate against to prevent corruption.

Overall I think it would prove to be an inefficient and complicated means of helping the poor, at least on a large scale.

>>1761020
yes.

my point is that prices will also rise for goods consumed by unskilled labor. Currently they're enjoying extremely low prices because they're not actually the bottom tier of labor. Kicking out the actual bottom tier will make costs rise more than their wages will.