Question: Opinions on minimum wage

crimsonaudio

Administrator
Staff member
Sep 9, 2002
63,451
67,350
462
crimsonaudio.net
There will be new jobs that arise from AI being more apart of the way we do business. However, what will the ratio of jobs lost due to AI to jobs created by AI? For every one job AI eliminates will a job be created due to AI? It will be interesting to see the net jobs gained or lost. I can see job markets being created as business' change how they do business. But as they continue to evolve are we going to see net losses of jobs with each business evolution? Certainly we won't see 1:1 ratios.
Yah, I have no idea, obviously,. but I'm simply point ing out that we've heard the same cry (the end of employment) for literally over a century due to machines taking over manual work, computers reducing the need for certain workers, etc - yet despite the population growth, there's generally enough work for everyone. New markets creating new jobs always seem to fill the void.
 

crimsonaudio

Administrator
Staff member
Sep 9, 2002
63,451
67,350
462
crimsonaudio.net
I would be worried that if there were no minimum wage some scumbag would take advantage and pay their employees next to nothing. It is the old saying "this is why we can't have nice things".
Probably, but the reality is the market would likely react. Ultimately, forcing me to pay someone $7.25/hour to sweep floors is ridiculous if there are those willing to do it for $5/hour. Artificially inflated wages make the US less competitive as a manufacturer while decreasing our buying power via inflation.

Besides, is it really an issue?

In 2014, 77.2 million workers age 16 and older in the United States were paid at hourly rates, representing 58.7 percent of all wage and salary workers. Among those paid by the hour, 1.3 million earned exactly the prevailing federal minimum wage of $7.25 per hour. About 1.7 million had wages below the federal minimum. Together, these 3.0 million workers with wages at or below the federal minimum made up 3.9 percent of all hourly paid workers.
From here: https://www.bls.gov/opub/reports/mi...racteristics-of-minimum-wage-workers-2014.pdf
 

DzynKingRTR

TideFans Legend
Dec 17, 2003
42,394
29,693
287
Vinings, ga., usa
Probably, but the reality is the market would likely react. Ultimately, forcing me to pay someone $7.25/hour to sweep floors is ridiculous if there are those willing to do it for $5/hour. Artificially inflated wages make the US less competitive as a manufacturer while decreasing our buying power via inflation.

Besides, is it really an issue?



From here: https://www.bls.gov/opub/reports/mi...racteristics-of-minimum-wage-workers-2014.pdf
I think we should pay waiters and waitresses a higher wage and get rid of tipping. We are one of the few countries that actually do this. I went to a restaurant in Boston that does this. it was Japanese/sushi. The owner was Japanese and had to put up a sign asking his customers not to tip.
 

Bamabuzzard

FB Moderator
Staff member
Aug 15, 2004
30,644
18,622
237
48
Where ever there's BBQ, Bourbon & Football
I think we should pay waiters and waitresses a higher wage and get rid of tipping. We are one of the few countries that actually do this. I went to a restaurant in Boston that does this. it was Japanese/sushi. The owner was Japanese and had to put up a sign asking his customers not to tip.
We had tenants in two of our rental properties from Italy. I got to know them pretty well. They were from northern Italy. They said it was considered an insult to tip.

*We haven't had a thread about tipping in a while. Always a fun thread. LOL!
 

Bamabuzzard

FB Moderator
Staff member
Aug 15, 2004
30,644
18,622
237
48
Where ever there's BBQ, Bourbon & Football
same with the guy in Boston, my friend had to stop me.
One of my FB friends owns a local restaurant in our area. Someone posted an article about minimum wage which mentioned waiters and waitresses in the article. In the comments section someone mentioned that patrons shouldn't be expected to tip on top of paying for their meal and service. It should be built into the price. The FB friend who owned the restaurant pipes in and commented that "If they were to do away with tipping and build it into their prices they would go out of business." The person then responded "Then you don't need to be in business in the first place. If whether your business succeeds or not depends on your customers paying premium prices for the food they eat then on top of that tipping 15+% to your wait staff. Then you don't need to be in business. You need a better business model."
 

Latest threads

TideFans.shop - NEW Stuff!

TideFans.shop - Get YOUR Bama Gear HERE!”></a>
<br />

<!--/ END TideFans.shop & item link \-->
<p style= Purchases made through our TideFans.shop and Amazon.com links may result in a commission being paid to TideFans.