Seattle raises minimum wage to $15

[GhostStar]

http://www.king5.com/news/local/Seattle-murray-minimum-wage-257505951.html

loving idiots. Ya know wHt will happen. A forgetton of peolle will loose there jobs, and the three people that McDonald's wont fire, are stuck trying to run a mcdonalds by themselves.  Then the price of a mcchiken will rise to ten bucks. It will be like that for every business.

[Ad Bot]

[Nonnel]

Bye seattle

[Jairo]

seattle: the new detroit?

[ResonKinetic]

sorry guys but i have no understanding of economics

its one of my few downsides

could someone elaborate as to why it is bad that minimum wage is $15 in Seattle? It sounds like a good thing because people get paid more.

right?

[Ipquarx]

sorry guys but i have no understanding of economics

its one of my few downsides

could someone elaborate as to why it is bad that minimum wage is $15 in Seattle? It sounds like a good thing because people get paid more.

right?

It's significantly more for companies to dish out, which will cause the cost of everything to rise.

[Mikoyan]

RIP Seattle

1869-2014

[ResonKinetic]

It's significantly more for companies to dish out, which will cause the cost of everything to rise.

But since people will make more money more or less, wouldn't it just cancel itself out?

[Nal]

I don't even know what that source is

https://www.google.com/#q=seattle&tbm=nws
wait stuff

[AutoBahn]

could someone elaborate as to why it is bad that minimum wage is $15 in Seattle? It sounds like a good thing because people get paid more.

right?

At first it might, but it just ends up with everything in Seattle becoming more expensive to pay off the new, raised minimum wage.
Which, in turn, raises the prices of things that may use stuff from Seattle(ex. A farm in Seattle has raised prices because of this inflation, all the companies/restraunts/whatever that depended on that farm will raise prices and/or need to find a newer, cheaper source).

But since people will make more money more or less, wouldn't it just cancel itself out?

No, because certain factors (ex. different countries wouldn't necessarially raise their prices/wages because of this, just that Seattle will have less exports because of this because no other-country company or whatever is willing to pay for something they could get cheaper elsewhere. In other words, it's all around bad because it stagnates trade for one thing.

[GhostStar]

sorry guys but i have no understanding of economics

its one of my few downsides

could someone elaborate as to why it is bad that minimum wage is $15 in Seattle? It sounds like a good thing because people get paid more.

right?

business cant afford to give 100 employees 15 bucks an hour. So they will have to fire a  unch of them and raise the prices of their merchandise. Soon things will become so expensive that 15 bucks an hour wont be a lot anymore. They will be right back where they started and demand 20 bucks an hour.

[Oasis]

$15 is too high. Shoulda upped it to $10.

[GhostStar]

I don't even know what that source is

https://www.google.com/#q=seattle&tbm=nws
wait stuff

its the local news company for western washington.

[ResonKinetic]

Well stuff I get it now.

so are we gonna have 49 states in the US or what  

[Tayasaurus]

sorry guys but i have no understanding of economics

its one of my few downsides

could someone elaborate as to why it is bad that minimum wage is $15 in Seattle? It sounds like a good thing because people get paid more.

right?

An employees income matters a lot on how much the business sells. If you raise the amount required to pay an employee, you have to raise the prices of what you sell. Some business including one that I run on my own barely make it by with the minimum wage in my state. If you raise the expense of employment for people, businesses will lose incentive to hire more people. Meaning less jobs and less flow of income because of the way our economy is.

However due to the ignorance of some people they think every business is some greed fat cat joint thats made of money. Which isn't true because we got to also pay the stupid stuffty ass bills like everyone else.

[sir dooble]

sorry guys but i have no understanding of economics

its one of my few downsides

could someone elaborate as to why it is bad that minimum wage is $15 in Seattle? It sounds like a good thing because people get paid more.

right?

It can be good, but the flipside is that companies can feel cheated of the extra cost, and so they can either increase the prices for their products/services, or they can start to hire fewer people, meaning people can lose their jobs.

It's not always a bad thing though. In good economies it's beneficial to the public and can help businesses thrive with plenty of happy staff, and in some theories it means that if people have more money then they spend more money, supporting the economy further.