Stimulus & Bailout Watch Thread

[Payday23]

All this hating on a min wage increase is corny, and the lack of understanding on what it means is disappointing

This.

The erosion of the federal minimum wage has increased poverty, especially for black and Hispanic families
On The Money: Millions of Americans in poverty as Black, Native American wages stagnate | Jobless claims jump to 853K | Economists warn against excluding state aid from COVID-19 relief

On The Money: Millions of Americans in poverty as Black, Native American wages stagnate | Jobless claims jump to 853K | Economists warn against excluding state aid from COVID-19 relief

 

[Ozymandeas]

All this hating on a min wage increase is corny, and the lack of understanding on what it means is disappointing

They angry over a $15 minimum wage but not the rampant money printing over the last ten years or the Fed buying $120 billion of treasuries and mortgage bonds each month

 

[CBalla]

They angry over a $15 minimum wage but not the rampant money printing over the last ten years or the Fed buying $120 billion of treasuries and mortgage bonds each month

“How are we gonna pay for federal student loan relief”

 

[dora_da_destroyer]

I do wonder how the higher min wage works in lower COL areas. Y’all can look up the city of emeryville in Cali and how small business has been gutted via their aggressive wage hike, you can read about the empty store fronts on bay st or their inability to finish the public market because they couldn’t get anchor tenants (all a mixture of high wages, high rents and high taxes). Council Considers Minimum Wage 'Pause' after Mills Study Reveals 'Struggling' Local Emeryville Restaurants - The E'ville Eye Community News



And thats Cali where you can really charge more for goods due to higher incomes in the area. Like a breakfast meal at McDonald’s costs about $7-8 in the bay, I was in GA and it was $5...it’ll be interesting how consumers on the other side react, especially if salaried folks don’t get raises. Maybe it’ll be easier for small biz that don’t have the same expensive rents as Cali, but again, those lower COL areas don’t have as highly paid customer bases either.


don’t get me wrong, I’m all for increasing wages, but people who site “studies” or are just like “fukk your business of you can’t pay $15” haven’t seen this live and in action nor do they understand the economics of some industries. Gonna be a lot smaller payrolls and higher youth unemployment. It also won’t be worth it for someone to start a business that nets them $50k/yr when their min wage worker can make $30k working fewer hours with a lot less risk and responsibility. I think this is going to accelerate the shift to large corps simply dominating the market, esp after the setback small businesses have had with covid.

 

[FAH1223]

 

[Killah Ray]

I do wonder how the higher min wage works in lower COL areas. Y’all can look up the city of emeryville in Cali and how small business has been gutted via their aggressive wage hike, you can read about the empty store fronts on bay st or their inability to finish the public market because they couldn’t get anchor tenants (all a mixture of high wages, high rents and high taxes). Council Considers Minimum Wage 'Pause' after Mills Study Reveals 'Struggling' Local Emeryville Restaurants - The E'ville Eye Community News



And thats Cali where you can really charge more for goods due to higher incomes in the area. Like a breakfast meal at McDonald’s costs about $7-8 in the bay, I was in GA and it was $5...it’ll be interesting how consumers on the other side react, especially if salaried folks don’t get raises. Maybe it’ll be easier for small biz that don’t have the same expensive rents as Cali, but again, those lower COL areas don’t have as highly paid customer bases either.


don’t get me wrong, I’m all for increasing wages, but people who site “studies” or are just like “fukk your business of you can’t pay $15” haven’t seen this live and in action nor do they understand the economics of some industries. Gonna be a lot smaller payrolls and higher youth unemployment. It also won’t be worth it for someone to start a business that nets them $50k/yr when their min wage worker can make $30k working fewer hours with a lot less risk and responsibility. I think this is going to accelerate the shift to large corps simply dominating the market, esp after the setback small businesses have had with covid.

Nah you're just a hater though.

I swear I think some people live in a philosophical utopia where doing the "right thing" has absolutely no consequences...

 

[DJ Paul's Arm]

I do wonder how the higher min wage works in lower COL areas. Y’all can look up the city of emeryville in Cali and how small business has been gutted via their aggressive wage hike, you can read about the empty store fronts on bay st or their inability to finish the public market because they couldn’t get anchor tenants (all a mixture of high wages, high rents and high taxes). Council Considers Minimum Wage 'Pause' after Mills Study Reveals 'Struggling' Local Emeryville Restaurants - The E'ville Eye Community News



And thats Cali where you can really charge more for goods due to higher incomes in the area. Like a breakfast meal at McDonald’s costs about $7-8 in the bay, I was in GA and it was $5...it’ll be interesting how consumers on the other side react, especially if salaried folks don’t get raises. Maybe it’ll be easier for small biz that don’t have the same expensive rents as Cali, but again, those lower COL areas don’t have as highly paid customer bases either.


don’t get me wrong, I’m all for increasing wages, but people who site “studies” or are just like “fukk your business of you can’t pay $15” haven’t seen this live and in action nor do they understand the economics of some industries. Gonna be a lot smaller payrolls and higher youth unemployment. It also won’t be worth it for someone to start a business that nets them $50k/yr when their min wage worker can make $30k working fewer hours with a lot less risk and responsibility. I think this is going to accelerate the shift to large corps simply dominating the market, esp after the setback small businesses have had with covid.

The last time I was in emeryville (2017), bay st and the open market near Guitar Center was crackin.

You're telling me that part of the city is a ghost town?

 

[Voice of Reason]

I do wonder how the higher min wage works in lower COL areas. Y’all can look up the city of emeryville in Cali and how small business has been gutted via their aggressive wage hike, you can read about the empty store fronts on bay st or their inability to finish the public market because they couldn’t get anchor tenants (all a mixture of high wages, high rents and high taxes). Council Considers Minimum Wage 'Pause' after Mills Study Reveals 'Struggling' Local Emeryville Restaurants - The E'ville Eye Community News



And thats Cali where you can really charge more for goods due to higher incomes in the area. Like a breakfast meal at McDonald’s costs about $7-8 in the bay, I was in GA and it was $5...it’ll be interesting how consumers on the other side react, especially if salaried folks don’t get raises. Maybe it’ll be easier for small biz that don’t have the same expensive rents as Cali, but again, those lower COL areas don’t have as highly paid customer bases either.


don’t get me wrong, I’m all for increasing wages, but people who site “studies” or are just like “fukk your business of you can’t pay $15” haven’t seen this live and in action nor do they understand the economics of some industries. Gonna be a lot smaller payrolls and higher youth unemployment. It also won’t be worth it for someone to start a business that nets them $50k/yr when their min wage worker can make $30k working fewer hours with a lot less risk and responsibility. I think this is going to accelerate the shift to large corps simply dominating the market, esp after the setback small businesses have had with covid.

You're sounding like Peter Thiel.

 

[dora_da_destroyer]

The last time I was in emeryville (2017), bay st and the open market near Guitar Center was crackin.

You're telling me that part of the city is a ghost town?

man, bay st has no restaurants right now other than California pizza kitchen and PF Changs, a lot of stores closed up, all of gap’s stores closed up, some moved to the older shopping center for cheaper rents. The public market has taken a long time to find tenants, I don’t think all the stalls are full, some have closed in the time it’s been reopened, the anchor tenant pulled out - was supposed to be a grocery store, I think they’ve now leased part of that to a start up and phase 2 is stalled indefinitely. That’s not to mention the stores/restaurants elsewhere in the city that have closed.

You're sounding like Peter Thiel.

care to elaborate how? Or is that enough to get the daps you want?

 

[Voice of Reason]

man, bay st has no restaurants right now other than California pizza kitchen and PF Changs, a lot of stores closed up, all of gap’s stores closed up, some moved to the older shopping center for cheaper rents. The public market has taken a long time to find tenants, I don’t think all the stalls are full, some have closed in the time it’s been reopened, the anchor tenant pulled out - was supposed to be a grocery store, I think they’ve now leased part of that to a start up and phase 2 is stalled indefinitely. That’s not to mention the stores/restaurants elsewhere in the city that have closed.

care to elaborate how? Or is that enough to get the daps you want?

U sound like a libertarian

 

[dora_da_destroyer]

U sound like a libertarian

Because I clearly have questions about how a higher min wage affects small biz backed up with anecdotal evidence of a city I live near...a place in a high COL area that still struggled with raising min wage? Ok

seems a lot of y’all want to ignore the downsides of a $15 min wage in how it affects small biz vs corporations

 

[DJ Paul's Arm]

man, bay st has no restaurants right now other than California pizza kitchen and PF Changs, a lot of stores closed up, all of gap’s stores closed up, some moved to the older shopping center for cheaper rents. The public market has taken a long time to find tenants, I don’t think all the stalls are full, some have closed in the time it’s been reopened, the anchor tenant pulled out - was supposed to be a grocery store, I think they’ve now leased part of that to a start up and phase 2 is stalled indefinitely. That’s not to mention the stores/restaurants elsewhere in the city that have closed.

care to elaborate how? Or is that enough to get the daps you want?

I use to smoke tree, cop a super burrito and that public market and fukk around at guitar center next door.

 

[Loose]

Because I clearly have questions about how a higher min wage affects small biz backed up with anecdotal evidence of a city I live near...a place in a high COL area that still struggled with raising min wage? Ok

seems a lot of y’all want to ignore the downsides of a $15 min wage in how it affects small biz vs corporations

Col is raising everywhere though even in lower col areas. I've lived in one for a large part of my life and and there $15 a hour is barely a livable wage forget 12 which it currently is.

 

[dora_da_destroyer]

Col is raising everywhere though even in lower col areas. I've lived in one for a large part of my life and and there $15 a hour is barely a livable wage forget 12 which it currently is.

Yea, my argument isn’t that 15/hr is some baller wage, it’s just that even in a place where your customers make a lot of money, there still isn’t tons of wiggle room to pay 15/hr and keep prices competitive (as a small biz). I can only imagine how a teacher in Louisiana making 40k feels about the price increase that comes from paying min wage workers 30k/yr. they can’t absorb that the same way teachers in Cali making 70k might, let alone all the six figure six cert residents of Cali can

 

[ADevilYouKhow]

Man 'lived undetected in Chicago airport for three months'