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Anonymous
Ontario $14-15 Minimum Wage 2017-06-12 10:42:21 Post No. 129636614
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Ontario $14-15 Minimum Wage 2017-06-12 10:42:21 Post No. 129636614
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Fellow Ontario-based Leafs,
The minimum wage in Ontario will be increasing from $11.40 to $14.00 an hour on January 1, 2018, with another proposed increase to $15 an hour on January 1, 2019 if the Liberal Party retains control of Ontario in the next provincial election.
Rather than fixing the minimum wage to inflation, as has been the case historically, Ontario will allow inflation to be governed by the minimum wage, in its attempt to mandate economic prosperity.
On January 1, anyone not already earning $14 an hour will have their pay increased; anyone currently earning just below, above, or equal to $14 an hour will demand a compensatory increase to their own wage; the cost of payroll for businesses with high amounts of minimum-wage workers will increase up to 30% overnight.
On January 1, prices of retail goods will increase at an average of 12-14%, with cheaper items seeing a greater increase, and more expensive items seeing a lower increase, in order to offset the increased cost of payroll.
In less than 6 months, liquid assets held in Canadian dollars will be sharply devalued overnight as businesses adjust to new costs of payroll and product. Any Canadian currency in your savings/chequing account will immediately lose value.
What are your plans to hedge against the devalued Canadian dollar and ride out the balancing period in the wake of January 1?
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I'm going to move to Nova Scotia or some place with as few niggers as possible. Fuck Ontario.
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I think for me personally, the best option is just buy some little gold bars to set aside. In theory I should be able to sell them back at a "profit" after the Canadian Dollar loses some power due to inflation. Is this correct?
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>>129637350
Not really. All you're doing is mitigating loss via currency devaluation, so "profit" isn't the word I would use. You're increasing the dollars in your possession but their buying power is decreased on a per unit basis so you're ultimately "worth" the same amount.
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>>129637686
Yeah thats why I chose to put the "quotes" for the word Profit. Since it's technically not true but I was using it as a reference. I think I will work towards getting a 1oz gold bar as an experiment. They are currently around 1,630.00 CanadaBux.
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>>129636614
How long until the loonie becomes firestarter and these start being issued again? I'm already coming up with design submissions for the new bills
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>>129637686
Isn't he technically correct?
He won't make money but he won't lose money like he would if he does nothing.
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>>129636614
I just lost my job. Do I go on welfare now or ride out the storm? I dont know if I could live with the shame of being a welfare leech.
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>>129636614
>in the middle of an australian tier housing bubble
>raising the minimum wage
your country deserves everything it gets
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>>129636614
Guess I will have to work in Canada but live in the USA.
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>>129639397
Would it be helpful if they also did a price freeze, in combination with raising minimum wage, to allow the economy time to adjust. So no store, or certain industries must keep their prices locked in at x rate.
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>>129636614
No shit, that's how it fucking works. The upshot of it is devaluing currency. And if they try to do the retarded and limit inflation to make the wages worth more, they are just fucking over the local economy and costing people jobs.
>>129638285
Go on welfare, jobs are about to get a lot more scarce and it'll be last in first out.
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>>129639600
>price freeze
Oh boy, more communism.
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>>129639802
Ok hear me out, and point out any flaws.
You increase minimum and freeze prices. Find out the exact number of additional funds you need to compensate. Lets say it's 15% of total employee wages.
Then you reduce the wages of the upper management by 15% to compensate. There are people making 70k-150k that can easily live with a reduction.
The market is always changing and people need to learn to adapt to it. If the low wage workers can live off 20k then the high wage workers can live off 70k-5k or 150k-20k.
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>>129640796
If there are as many people with high wages as many people with low wages then your math would make sense.
But thats not the case here, and never will be.
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>>129640796
yes leaf cut the wages of the people who actually pay taxes and fun the government. This is a problem because with out gibes you cant give money to the gibes me dats that you country is so proud of.
jesus christ that is one of the most retarded things i have read all day on this sight congratulations you get the retard gold star of the day.
I mean people in China survive on like 2 dollars a day lets just cut the wages of everyone everywhere making more then 2 dollars a day simply because they can live on it.
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>>129642713
**fund
**site
the extream retardation effected my typing
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>>129636614
>anyone currently earning just below, above, or equal to $14 an hour will demand a compensatory increase to their own wage;
lol they'll just get fired and someone will get hired at 14 bucks an hour. Labor at that rate is worthless.
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>>129642713
Yes but the buying power of the dollar has to be included. Who cares if your paycheck number stays the same if the buying power of each dollar drops. Just because you get paid lass dollars doesn't mean you can buy less things.
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>>129638023
AESTHETIC
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