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Mar 10 - $15 Minimum Wage Laws Are Wiping Out Jobs in New York and Illinois


 
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 2 weeks ago '15        #1
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BuyGold 3039 heat pts3039
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Mar 10 - $15 Minimum Wage Laws Are Wiping Out Jobs in New York and Illinois
 

 
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Big minimum wage hikes wipe out a lot of jobs. Illinois recently enacted a $15 minimum wage, a large increase in the minimum wage that will be phased in over several years. And businesses are already announcing plans to close up, move out of the state, or curb their expansion in the state. The Daily Gazette and Sauk Valley Media provide the example of Hopper’s Poppers:

After a little more than 2 years downtown, Hopper’s Poppers – the business, and the building it’s in – are being put up for sale, the owner said. Ryan Hopper also closed his Sycamore shop this week, citing Gov. J.B. Pritzker’s approval of a statewide $15 minimum wage increase. Three months ago, he and his wife Stephanie were considering adding a third location in Roscoe, which would have brought him closer to his five-location goal. But he said the the minimum wage hike and Illinois’s notoriously high property taxes solidified the decision for his family to continue their business ventures outside Illinois.

Jobs are being lost in New York, too. New York City experienced its worst decline in restaurant jobs since 9/11 after a $15 minimum wage there was enacted. The city saw its sharpest fall in restaurant employment in nearly 20 years. Its 40% increase in the minimum wage was phased in over a two-year period, but substantial job losses are already evident.

As Jon Miltimore of the Foundation for Economic Education notes:

Restaurants tend to operate on famously low profit margins, typically 2 to 6 percent. So a 40 percent mandatory wage increase over a two-year period is not trivial.

In response to the minimum wage hikes, New York City restaurants did what businesses tend to do when labor costs rise: they increased prices and reduced labor staff and hours.

For example, Lalito’s, a popular restaurant on Bayard Street, recently raised its menu prices 10-15 percent, Eater New York reports.

A New York City Hospitality Alliance survey also showed that three out of four full-service restaurants said they planned to reduce employee hours. Nearly half of those surveyed said they planned to eliminate some job positions in 2019.

As Miltimore notes, several other states have passed or are in the process of enacting a $15 pay floor. New Jersey recently enacted a $15 minimum wage—the increase will be phased in over several years—joining California, Massachusetts, and New York. The Maryland House of Delegates passed a $15 pay floor on February 27. The District of Columbia and some cities, such as Minneapolis and Seattle and Minneapolis, also have $15 minimum wage laws.

A $15 Minimum Wage Ignores Basic Economics
The abstract idea of a “living wage” is so powerful that politicians and even voters are willing to sacrifice real people in the pursuit of it. Politicians have admitted that these radical increases in the minimum wage make no economic sense, even if they make for a moralistic political soundbite. In signing California’s $15 minimum wage into law, California’s Jerry Brown said that “Economically, minimum wages may not make sense. But morally, socially, and politically they make every sense.”

Voters often feel the same way. The Los Angeles Times reported that “Californians strongly back the state’s minimum wage increase to $15,” even “though they believe the wage hike will hurt their pocketbooks and the state’s economy,” and “high percentages of those surveyed expected negative consequences, including layoffs and business relocations to states with lower minimum wages. Almost 90% of respondents believed that prices for consumers would rise because of the wage hike.”

By advocating minimum wage hikes, people get to signal their own political virtue—at the expense of other people’s jobs.

Seventy-two percent of economists say that a $15 minimum wage is a bad idea, and an even higher percentage say it will increase the unemployment rate. An economist at Moody’s estimated that up to 160,000 jobs will be lost in California’s manufacturing sector alone from the increase to $15.

Higher Minimum Wages Hurt the Government
Raising its own minimum wage costs a state critical tax revenue and constitutes unilateral disarmament in its competition with other states. Job losses and business failures from minimum wage hikes reduce state revenue. Meanwhile, much of the benefit of the wage hike to low-income workers who manage to keep jobs at the increased minimum wage is lost due to increased federal taxes and reduced federal earned-income tax credits and food stamps, as a writer noted in the Wall Street Journal in 2016:

The tax implications of going from a $10 to a $15-an-hour minimum wage” are fiscally “very significant. For a family of four with both spouses making the minimum wage, their federal tax will increase from $4,106 to $7,219, payroll tax will increase from $2,579 to $3,869, their earned-income tax credit (EITC) will be reduced from $596 to zero … and the $2,400 food-stamp credit will be lost. Of the $20,800 increase in income in going from $10 to $15 an hour, $7,778 will be diverted to the government, which doesn’t include loss of other income-dependent government welfare programs and added costs due to the resulting inflation. Over one-third of the wage increase will flow to the [federal] government.

The net result is that an economically struggling town with lots of low-wage workers tends to have less disposable income, higher prices, and less consumer purchasing power (meaning fewer retail jobs) after a minimum wage hike than before.
visit this link https://fee.org/articles/ .. -and-illinois/
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274 comments for "Mar 10 - $15 Minimum Wage Laws Are Wiping Out Jobs in New York and Illinois"

 2 weeks ago '19        #2
Gold Face 1 heat pts
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Boxden commie gang doesn’t know how business works



Bottom line > employee satisfaction


Employee satisfaction can’t keep the lights on

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 2 weeks ago '16        #3
OWPE 94 heat pts94
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People are fleeing new york like never before
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 2 weeks ago '08        #4
cohs 7 heat pts
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Wonder if they will move shop every couple years to avoid paying people.
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 2 weeks ago '06        #5
rblivewire327 2 heat pts
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Good idea but like article said will have a negative impact with people losing jobs and/or higher costs for the consumer.

New York is getting crazy smh ... between this, congestion tax, already high taxes and losing tax write-offs (SALT cap), increasing MTA costs and constantly rising rents, it's almost unlivable for the average person
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 2 weeks ago '04        #6
dc3003 120 heat pts120
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I wonder why ....


[tweet - click to view]

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 2 weeks ago '08        #7
cristiansed101 9 heat pts
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Minimum wage
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 2 weeks ago '16        #8
Aztlan 111 heat pts111
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Make it the federal minimum wage. Motherfu*kers won't have nowhere to run.

People are losing their jobs because execs don't wanna give up their bonuses and companies wanna fatten their war chests. That's fu*ked up.

If paying people a livable wage is not sustainable, what does that say about capitalism and the cost of living in this country?
+151   

 2 weeks ago '07        #9
Funeral James 26 heat pts26
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 OWPE said
People are fleeing new york like never before
thats great tired of hearing people complain about how expensive and cold it is
+8   

 2 weeks ago '08        #10
Solitary Genius 54 heat pts54
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 Standin Taller said
What black Americans seem not 2 understand about socialism/communism being implemented in America is the trickle down effect.

Theres a dead pedo war going on right now

And the same fools tight about that wanna become a socialist country thinking they got a better shot at equality under that type of government.

We are so uneducated...... it’s very scary
two socialists in ya avatar dumbass
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 2 weeks ago '07        #11
pete jr 5 heat pts
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Keeping telling folks raising minimum wage will just cause employers to increase employee workload and lay people off
+21   

 2 weeks ago '16        #12
Aztlan 111 heat pts111
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 Funeral James said
thats great tired of hearing people complain about how expensive and cold it is
Right.

Improve traffic and slow down rent hikes.
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 2 weeks ago '13        #13
Murker99 89 heat pts89
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 OWPE said
People are fleeing new york like never before
See a sh*t load of yellow and blue NY tags down here in Houston lol
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 2 weeks ago '15        #14
PolygonMafia 4 heat pts
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Lol. Yah that’s what’s k*lling the economy - paying people a living wage.

All this talk of what the least earning survive off of, but no mention of what we should consider a maximum earning while we have people who are starving or working more than 40 hours a week to make ends meet.

This isn’t what the fu*king minimum wage was for. It was supposed to be a point of pride that a single earner family could prosper in this country... or at least it was for a while thanks to our prosperity post-WW2. Now we sh*t on the people who make up this country by-and-large (the ever-shrinking ‘middle class’ - quickly turning into just a low and high earning caste system every day) because we let capitalist oligarchy go run amok. Now we’re reaping what the rich sowed. Discontent amongst the peasants to distract from the king while he is bleeding them dry.

Having a more robust middle class and less billionaires/multi-millionaires is one of the only ways our economy is going to keep going without just fu*king everyone having to keep up for the ever-rising cost of living and inflation.
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 2 weeks ago '17        #15
Fortune 180 heat pts180
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so wait ppl want 15 an hour for being a cashier? Lol wow
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 2 weeks ago '18        #16
ICONIC 210 heat pts210
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 OWPE said
People are fleeing new york like never before
Whose fleeing ny?? I dont see anyone fleeing. Traffic still crazy. Rent still high.lol
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 2 weeks ago '16        #17
genxcide 1 heat pts
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standard of living is very complicated. even 15 an hour isnt much to live on. in new york thats 600 a week and prolly 450 after taxes on a 40 hr week. not much. the issue is inflation. raising rent, mortgage and food prices. some places a car is needed for transportation if there is no subway or a very limited bus route like ulstate new york. insurance prices are crazy. if you add in health car that 450 a week probably drops to around 380 and thats for single coverage. and above all. and boxeden wont like this with the hard on a hoe movement and if a girl aint a virgin shes a thot bull sh*t. or youf a simp cause u wife a girl bull sh*t. but the fact that people sont get married any more is really k*lling our societys. unless you make big big money its is way to fu*king hard to live the american dream on your own. and marriage and all fhat brings in even bigger issues. nothing is black and white. there are no easy answers. every action has a reaction and this proves that point. god.bless
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 2 weeks ago '08        #18
Solitary Genius 54 heat pts54
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 Standin Taller said
know who they are the they causes they stood for during that timeframe.

Black panthers are “socialist” but if you don’t understand the difference so be it
"during that timeframe" i can tell what you stand for switches through different time frames
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 2 weeks ago '16        #19
ahHLeckzz 
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 Fortune said
so wait ppl want 15 an hour for being a cashier? Lol wow
I mean you do need cashiers right? You cant even live in new york independently making 15 dollars an hour. Anything less and the job should just come with shackles and a whip.
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 2 weeks ago '16        #20
Strong Side Iso 1 heat pts
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Like I said in another thread:

Politicians aren't fiscally realistic.

They are non financial people trying to make funny a*s numbers work when they don't. They couldn't run companies with this bum a*s logic so why the hell should they be running the country?

The problem is these people who minimun wage has to work for. Why does the MINIMUM have to work for you? Yo a*s always gonna be on the bottom being complacent with the minimum a motherfu*ker can pay you.
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 2 weeks ago '17        #21
Fortune 180 heat pts180
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 ahHLeckzz said
I mean you do need cashiers right? You cant even live in new york independently making 15 dollars an hour. Anything less and the job should just come with shackles and a whip.
being a cashier isn't a job that requires that level of pay honestly. it's just not.

what'll end up happening is they'll just automate most jobs with self checkout/machines

saw a fully automated gas station in Memphis. no cashiers.

if the job you have isn't the pay level you need, it's time to learn skills that pay the level that you seek.

life ain't fair. but it ain't fair to nobody, so I guess that's fair as it gets.


Last edited by Fortune; 03-10-2019 at 10:23 PM..
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 2 weeks ago '04        #22
JJH35 17 heat pts17
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 Aztlan said
Make it the federal minimum wage. Motherfu*kers won't have nowhere to run.

People are losing their jobs because execs don't wanna give up their bonuses and companies wanna fatten their war chests. That's fu*ked up.

If paying people a livable wage is not sustainable, what does that say about capitalism and the cost of living in this country?
You can believe this pile of sh*t all you want, but you have not a single clue what you are talking about or clamoring for with your buzz words. You have clearly never run a business yourself either.
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 2 weeks ago '04        #23
realkilla3 1 heat pts
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Survival of the fittest




You can't cut it in a new environment either pack it up or pack it in .

 2 weeks ago '18        #24
Binary 105 heat pts105
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There are a bunch of jobs that do not deserve to pay 15.00 for a starting wage.

And on the other side of that coin there a bunch of jobs that you can start at 15.00 or more

I’m sure we can all agree that

McDonald’s
Starbucks
Entry level car detailers
Cashiers
Retail a*sociates
Loss prevention
Etc

Don’t deserve a 15 minimum wage.

But you can find jobs such as forklift operators, machine operators(paper mill), and other entry level jobs like those will pay 15 or above.

Here in Wisconsin, especially the fox valley area you can earn between 15.00 to 19.50 an hour for working at a paper plant and those are entry level positions.

I know by experience there are a ton of people who fled Chicago-land to come up north in Wisconsin to get paid more and taxed less.
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 2 weeks ago '15        #25
thirssty58 6 heat pts
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Seems to me higher wages or benefits either way someones gonna pay guess it gets shifted to the taxpayer. People need some accountability though.
+2   

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