Also living wages fluctuate per person. That’s a subjective statement.

And also why would a business be entirely reliant on paying all of its employees minimum wage

A business dependent on paying all of its workers minimum wage just to stay afloat probably wouldn’t survive long anyways

With or without a wage hike

hi visitor

have you taken any formal economic classes

im assuming you're in high school so maybe like ap macro/micro?

well one of the things that you learn when you begin studying economics is what minimum wage does to buisnesses

minimum wage is a price floor, which means that businesses can't go below it
firms try to operate at an equilibrium point at least right, so they're not losing money
when the price floor is put, legislation puts it above this equilibrium causing the business to undergo losses if they maintain current production
so they fire workers, increase production whatever to cut losses

ideally a business should not have to do this because it ends up hurting the market even if people are being paid more as seen above^

@hcaez why isn’t Mom back from the store

she'll be back soon

a good example is walmart

Yes Walmart is a store

Walmart makes 480 in revenue, awesome, but they have 465 in costs

Thank you Kanye, very cool!

so their profit is 15 billion

people may say "WOW 15 BILLION WHY DOESNT WALMART INCREASES WAGES"

sure they could, but Walmart has other things to do besides that

Retarded niggas be like “why don’t I get more money for pushing buttons on a cash register”

Amazon and Target are not sitting still, it's a competition they're all constantly improving so that means if Walmart wants to stay running they need to do R&D

opening new stores and new logistics also costs money

people attack walmart for their wages when companies like Apple should really be the ones attacked

Each Walmart store is only 1.2M profit

+

Apple has higher profit margins than walmart but a lot less employees

so what does this suggest when apple wages at the apple store are the similar to walmart?

🦆

yes exactly

Apple is exploiting their employees 80x more than walmart is, but no one complains

How

okay think about this

at the apple store, employees get paid 15 an hour, walmart employees get paid 11

I mean

so from this you might assume walmart is scamming its employees, but that's not the case
In FY2017 walmart made 14 billion in profit
in FY2017 apple made 10 billion ALONE IN Q4

So Apple makes about 3.5x more profit than walmart

Yea but there the same low skilled shitty jobs

The idea behind a small minimum wage rise is that the marginal benefit it provides the workers who share it is less than the marginal cost to the business

Apple employs less people than walmart

Now, if that isn’t true, then the minimum wage hike should be reconsidered

so at the end of the day, even though the wage is higher, Apple is making a lot more profit than walmart is per employee