Funny $15 minimum wage meme

Mr, I am not trying to offend you here, but damn, I am speechless to what you said. If all liberals are thinking what you just thought, this is truly sad...

Ok, here's where you are wrong. This article you sent from BLS only said minimum wage earner constitutes 4.7% of the labor force. However, by definition, minimum wage earners are those are are making $7.25 an hour. So the question becomes, how many workers today who are earning anything between $8-$14 an hour? Please understand that $15 an hour equals about $31k annually assuming the normal 40 hour per week work schedule. According to SSA roughly 50% of the population is earning less than 31k. See for yourself:

https://www.ssa.gov/oact/cola/central.html

So you are NOT just doubling the 4.7% of the LOWEST wage earners. It's a cascade increase from ALL populations earning $7.25-$14 which is SIGNIFICANTLY larger than just 4.7%. This will have a disastrous effect on the economy. Inflation, price increase...etc will have compounding effect. And those who are already making $15 will feel poorer (the sinking of middle class -- a dangerous economic phenomenon).

Please read some economics journal and you'll understand that $15 will actually destroy this nation by pulling down the middle class, the country's supporting beam, thereby creating just two class of people -- the poor (still even if they earn $15) or the very rich. You'll be increasing the real economic power disparity, not decreasing it.

I am not opposing to reasonable change to minimum wage. Just not doubling it to $15 in such a short period of time. Indexed to core inflation is reasonable.

I think it should be raised to $10/hr within a few years and any city or municipality should be able to raise it to whatver they want. I think missouri passed a law that said that St. Louis couldn't raise rates beyond the states rage. That's wrong to me.

All minimum wages should also be indexed to inflation in perpetuity.

Do you want to pay $5.00 for a can of coke, because that's how you pay $5.00 for a can of coke.

Bullshit--it seems you don't know how retail competition works. Riasing the rarely raises prices at the cash register, because everyone wants to stay competitive. If prices are raised, they are raised about a penny or a nickel an item on the higher end items, not on cans of coke. When I was boy, a coke (which did not come in a can) cost five cents. Now the cheapest in the neighborhood is 85 cent in the machine at the laundromat, which beats the hell out of the dollar and half at the corner store. The only "cheap" cans of coke come in the 12-packs at the supermarket. I am not so stupid as to think that cokes went up so much in price over the last more than sixty years because people were given increases in the minimum wage to what is barely a living wage. Your brain has been rotted by being soaked in bone-head conservative rhetoric.

This has nothing to do with retail competition, it has to do with what you pay someone to do a job and what you in turn sell your product for.

We had a decent discussion on the minimum wage a couple of years ago.

https://able2know.org/topic/316134-1

As I said, you obviously don't know how retail competition works. There is no one-t9-one correlation between wages and prices.

Here's a little primer for you on retail pricing. The big three are demand, what the market will bear and competition. If there is moderate or high demand for an item, the retailer will charge the highest price she can, subject only to competition. She's not going to price herself out of the market, but will otherwise charge the highest price she can get away with--what the market will bear. Wages are not even on the retail horizon. In a corner store, or a mom-and-pop grocery store, the wage will probably be minimum wage. They still are not going to price themselves out of the market--so competition is a much more important consideration. Low demand items probably won't show up on their shelves at all in corner stores and small grocery stores. In chain convenience stores and chain grocery stores, the retailer charges the supplier a fee for shelf space. If you want your product on the shelf at all, you have to pay the retailer for the privilege. Wages in chain operations are determined by the prevailing wage set by the Retail Clerks (a branch of the United Food and Commercial Workers). Any chain operation which does not want to deal with Retail Clerks will pay the prevailing wage that Retail Clerks has successfully negotiated in that area just to keep the union out.

Wages are a trivial consideration in the pricing of products in any store.