Posted: 11/2/2016 5:20:31 AM EDT
| http://www.businessinsider.com/south-dakota-decrease-minimum-wage-2016-9 |
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I'm OK with this. As completely unskilled kids, they are unlikely to be worth a full wage, particularly after factoring in the effort skilled employees will have to put in training them to be worth anything more. We just have to be careful of falling into the mental trap of seeing a low minimum wage the same as a maximum wage. If a useless kid learns and becomes more valuable to an employer, they are not trapped at the entry wage. |
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This was one of the good ones versus the majority of the other proposed amendments on the ballot that were put there by "Our Revolution" aka Bernie Sanders. Hard to believe those socialist motherfuckers were able to get so many on in SoDak. Me and the wife's absentees were mailed last week... |
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Quoted:
I'm OK with this.As completely unskilled kids, they are unlikely to be worth a full wage, particularly after factoring in the effort skilled employees will have to put in training them to be worth anything more. We just have to be careful of falling into the mental trap of seeing a low minimum wage the same as a maximum wage. If a useless kid learns and becomes more valuable to an employer, they are not trapped at the entry wage. They can leave and go else where. We have to be careful of not falling into the trap of dictating how a man should pay another man. Oops...already there. |
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I've had a few discussions on this, including one college girl recently, who argued that minimum wage should be $15 here too. I asked her "where's the extra money come from?" she replied "well, the businesses can afford it."
I walked her through a scenario in a small town, where Billy was working at Ralph's donut shop for $8.00 an hour, but then got an increase to $15, and Ralph couldn't afford to pay him that much in his two man shop. So, now Billy makes $0 per hour. She said "well, Ralph could just charge more to pay the difference." True, until customers decide they don't want to pay $2.00 for a donut and coffee, they only want to pay $1.00. So after a little while, Billy and Ralph BOTH make $0 per hour. "Oh. OH!"  not a perfect scenario, but close enough to make the point.
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