LogFAQs > #950666277

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Topic	Amazon fined for stealing tens of millions in tips from its delivery drivers
MuayThai85 02/15/21 1:37:39 PM #35:	Shablagoo posted... This isnt about any of that. Its simply mathematically what the minimum wage should be based on the rise in production over the last few decades. And, minimum wage increases have not been shown to raise prices significantly. If said minimum wage is more than double, then yes it would because the increased buying power will lead to increased prices due to a little thing known as supply and demand. Do you think the price of your meal at a restaurant will stay the same when said restaurants already operates on a 10% profit margin (roughly) are now paying 2.5x more for their staff (that's if you remove tipping and just add it into the price of the meal)? A vast majority of businesses would not be able to afford to keep their doors open if the minimum wage was raised to $25... --- How can one person post so much stupid s*? <cite>MuayThai85 posted [p:950666277] in Amazon fin... [t:79295294]...</cite> <quote>Shablagoo posted... </cite> <quote>This isnt about any of that. Its simply mathematically what the minimum wage should be based on the rise in production over the last few decades. And, minimum wage increases have not been shown to raise prices significantly.</quote>If said minimum wage is more than double, then yes it would because the increased buying power will lead to increased prices due to a little thing known as supply and demand. Do you think the price of your meal at a restaurant will stay the same when said restaurants already operates on a 10% profit margin (roughly) are now paying 2.5x more for their staff (that's if you remove tipping and just add it into the price of the meal)? A vast majority of businesses would not be able to afford to keep their doors open if the minimum wage was raised to $25... --- How can one person post so much stupid s*?</quote> ... Copied to Clipboard!
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