My wife, the kids and I went shopping over the long Fourth of July weekend. We stopped into Target for a few items—and ended up with more than we came for—and sped through the self-checkout line. The next stop was Home Depot to get supplies for a project and, once again, we checked ourselves out without the assistance of a cashier. Then, we made a last stop at Whole Foods for our family barbecue and chose the self-checkout line.
A recent study by the Congressional Budget Office, entitled “The Effects on Employment and Family Income of Increasing the Federal Minimum Wage,” was conducted to determine how increasing the federal minimum wage from $7.25 to $10, $12 or $15 per hour by 2025 would affect employment and family income. The conclusion was that increasing the federal minimum wage would have two major impacts on low-wage workers: earnings would increase for many, which would lift some families out of poverty. However, other low-wage workers would become jobless, their family income would drop and it could place them below the poverty threshold. This issue is timely, important and deserves an open and honest conversation, as there will be an upcoming vote in the House of Representatives on a bill to raise the federal minimum wage to $15 an hour by 2024.
The idea of raising the minimum wage is noble and commendable, but many of the arguments rely upon raw emotion and neglect sound economic ramifications that will adversely impact the same people it's trying to help.
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14 comments:
Let it happen. Watch how many jobs are eliminated by automation.
If passed , the cost will be passed to consumers in
drastic raises in merchandise. Those on receiving
the raise will be right back to where they were before.
And , God help some Senior Citizens who are on limited
income !!
Let us hope that"smart" people continue to make the decisions in this matter...
Businesses (large and small) will get rid of people because they want to keep more money in their pockets. They will go automated and more people will lose jobs. Eventually, we'll have to go to the universal income that Andrew Yang is promoting.
Centuries ago when I was young minimum jobs were a starting point in life and not a career.As I got older I noticed more and more people staying at those jobs with no apparent intention of ever leaving.Maybe they were crowded out of the really good jobs by those more qualified? Who knows,or maybe they just became more complacent with living a simple life where little or no demands were placed on them.
I cannot believe how many people that never made 15 dollars an hour in their entire working life are apposed to this.
Automation is happening and is going to happen anyway wither the wages go up or not. If you think it is just the low skilled worker, you are a fool!
Everything that can be automated will be automated. This will affect all income levels. I would say within the next ten years there will be very few if any jobs that won't be automated. The governments answer to this? Universal basic income!
I work in a customer service call center, I have been told my job will be automated within the next five years and if I am lucky, I might get to keep my job for those who still want to talk to a human or have questions that cannot be answered through the automated call center.
I am 57, so I am hoping and praying that I can hang in there until I can reach retirement age.
It's more than just raising the minimum wage. Even if they don't raise the wages, your job will be phased out anyway just like your manufacturing was was when they signed these trade deals and outsourced your job to a foreign country. If the jobs come back, they will be automated. Our children's and our grandchildren's future is screwed!
Simple, lower housing costs so people can actually afford to live, work, feed and clothe their family without working 3 jobs.
Different side of the coin on this. Automation is happening whether wages are 11 dollars or 15 dollars. Technology is going to happen. The 15 dollar an hour by 2024 if I understand that correctly will be nothing due to inflation. I believe workers should make more now and business should bear the cost and not pass it on to their customers. Less profit but would be good for business. Just saying.
Bla, bla and bla.
The largest beneficiaries of razing the minimum wage are labor unions as their collective bargaining agreement with management have the wage tied to the minimum wage. Legislature razes the minimum wage, union employee wage automatically goes up.
SBJ
Article written on behalf of the elites who insist on increasing their earnings year after year
If we demand more pay, they will simply use machines to replace us.
Technology is great, isn't it?
"Wither" ...its "whether" you mental midget. Your spelling is only the tip of the iceberg in your moronic thinking.
Any of you whom commented in favor of $15/hr minimum wage ever take an economics course???? Costs will simply be passed on to the consumer. It will help those out of poverty level for a very brief period, then it will level out to the same economic status as prior to the raise. Not to mention, what happens when the worker making $15/hr prior to the raise??? They’ll want to be compensated more, just as all employees will. How would you like to be that person who worked their way to a higher wage then have it matched by those who have not worked to obtain? It’s called inflation, only exasperated at a higher rate due to government intervention. In the end, we all lose.....
If you automate the economy then no one has money to buy the junk you peddle. Not to mention people will steal everything not nailed down like they do at Walmart self scans.
You will pay the new minimum wage regardless of how high it eventually goes and you won't be automating all the jobs. Robots don't pay taxes and unemployed people sit on welfare.
You will pay the people one way or the other.
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