Disaster greater than San Andreas to hit LA by 2020

[ksen]

http://www.theatlantic.com/business...es-largest-city-to-boost-minimum-wage/393692/

Today’s vote to raise Los Angeles’ minimum wage to $15 an hour by 2020 is being called “the most significant victory so far” in the push to increase the minimum wage nationally. The City Council passed the ordinance 14-1, which will boost the current minimum of $9 in roughly $1 increments annually over the next five years. The first increase would happen in July 2016, boosting minimum wage to $10.50 an hour.

http://www.washingtonpost.com/blogs...iggest-city-yet-to-approve-a-15-minimum-wage/

The Los Angeles City Council voted overwhelmingly Tuesday to raise the city's minimum wage to $15 an hour by 2020, up from the current $9 an hour, becoming the largest American city to set a target that has gone from almost absurdly ambitious to mainstream in the span of a few years.

May god have mercy on their souls.

 

[Loren Pechtel]

It's an expensive place to live, I don't think there's going to be a big effect.

 

[Jimmy Higgins]

It's an expensive place to live, I don't think there's going to be a big effect.

Unlike Seattle which is so cheap!

 

[Tom Sawyer]

I'm going on the record now to predict that there are restaurants open today that will end up being closed by 2021 after this price hike kicks in.

Thanks, Obama.

 

[Jason Harvestdancer]

Damn, I was hoping this thread would discuss geology and plate tectonics. I was looking forward to beach-front property.

 

[Loren Pechtel]

It's an expensive place to live, I don't think there's going to be a big effect.

Unlike Seattle which is so cheap!

I didn't think Seattle was going to be a disaster, either--same reason.

 

[DBT]

I'm going on the record now to predict that there are restaurants open today that will end up being closed by 2021 after this price hike kicks in.

Thanks, Obama.

MW is higher than that in Australia, and we have an abundence of restaurants, if some close, it's most probably due to oversupply than MW rate.....or poor management.

 

[Axulus]

I'm going on the record now to predict that there are restaurants open today that will end up being closed by 2021 after this price hike kicks in.

Thanks, Obama.

MW is higher than that in Australia, and we have an abundence of restaurants, if some close, it's most probably due to oversupply than MW rate.....or poor management.

What percent of people's food and drink budget in Australia is spent on eating out?

In the US, more is spent on eating and drinking out than eating and drinking at home.

 

[DBT]

MW is higher than that in Australia, and we have an abundence of restaurants, if some close, it's most probably due to oversupply than MW rate.....or poor management.

What percent of people's food and drink budget in Australia is spent on eating out?

In the US, more is spent on eating and drinking out than eating and drinking at home.

Doesn't change the point that restaurants in Australia, and other parts of the world, are able to pay a reasonable wage to their employees, yet are still able to profit from their business. It can be done. It is being done.

 

[Axulus]

What percent of people's food and drink budget in Australia is spent on eating out?

In the US, more is spent on eating and drinking out than eating and drinking at home.

Doesn't change the point that restaurants in Australia, and other parts of the world, are able to pay a reasonable wage to their employees, yet are still able to profit from their business. It can be done. It is being done.

Five star French restaurants pay their employees quite well and are able to make a tidy profit. They could probably survive a $30/hr minimum wage without a hitch. The question is, how well overall are restaurant businesses doing? How often are the low to mid income people eating out?

 

[crispy]

Doesn't change the point that restaurants in Australia, and other parts of the world, are able to pay a reasonable wage to their employees, yet are still able to profit from their business. It can be done. It is being done.

Five star French restaurants pay their employees quite well and are able to make a tidy profit. They could probably survive a $30/hr minimum wage without a hitch. The question is, how well overall are restaurant businesses doing? How often are the low to mid income people eating out?

Probably a little more when they get higher MW...

 

[DBT]

Five star French restaurants pay their employees quite well and are able to make a tidy profit. They could probably survive a $30/hr minimum wage without a hitch. The question is, how well overall are restaurant businesses doing? How often are the low to mid income people eating out?

Probably a little more when they get higher MW...

Exactly. A higher pay rate for workers is not always negative thing for business in general.

 

[bilby]

MW is higher than that in Australia, and we have an abundence of restaurants, if some close, it's most probably due to oversupply than MW rate.....or poor management.

What percent of people's food and drink budget in Australia is spent on eating out?

In the US, more is spent on eating and drinking out than eating and drinking at home.

When you look at expenditure patterns over the longer term, Australians emerge as big spenders on eating out. Data from the Australian Bureau of Statistics shows that household spend on meals away from home has jumped more than 55 per cent in real terms since the 1980s, from $42 per week in 1984 to $66 in 2010. Where households spent around one-fifth of their weekly food budget on eating out in 1984, today that figure is closer to one-third.

http://www.goodfood.com.au/good-food/food-news/how-australia-eats-the-ultimate-pie-chart-20131102-2wstm.html

 

[dismal]

The real disaster is that they didn't raise the minimum wage to $50 or $100 per hour since doing so would hurt nothing and no one. Plus Australia.

 

[SimpleDon]

The real disaster is that they didn't raise the minimum wage to $50 or $100 per hour since doing so would hurt nothing and no one. Plus Australia.

You keep asserting this in these types of threads and consistently refuse to defend the assertion.

Yes, we need to raise the minimum wage as part of an overall effort to increase the share of the national income that goes to wages and to reduce the share that goes to profits. But like all things economic it must be done slowly to allow the economy to adapt.

 

[Jimmy Higgins]

The real disaster is that they didn't raise the minimum wage to $50 or $100 per hour since doing so would hurt nothing and no one. Plus Australia.

You keep asserting this in these types of threads and consistently refuse to defend the assertion.

Yes, we need to raise the minimum wage as part of an overall effort to increase the share of the national income that goes to wages and to reduce the share that goes to profits. But like all things economic it must be done slowly to allow the economy to adapt.

Yeah but if that is a good idea, then you are clearly stating that raising it to a babillion billion an hour would work even better! *zing*

 

[dismal]

The real disaster is that they didn't raise the minimum wage to $50 or $100 per hour since doing so would hurt nothing and no one. Plus Australia.

You keep asserting this in these types of threads and consistently refuse to defend the assertion.

Yes, we need to raise the minimum wage as part of an overall effort to increase the share of the national income that goes to wages and to reduce the share that goes to profits. But like all things economic it must be done slowly to allow the economy to adapt.

Adapt to what? If it causes no problems why does there need to be time to adapt?

- - - Updated - - -

You keep asserting this in these types of threads and consistently refuse to defend the assertion.

Yes, we need to raise the minimum wage as part of an overall effort to increase the share of the national income that goes to wages and to reduce the share that goes to profits. But like all things economic it must be done slowly to allow the economy to adapt.

Yeah but if that is a good idea, then you are clearly stating that raising it to a babillion billion an hour would work even better! *zing*

I missed the part where you explained why it isn't a good idea.

 

[Alcoholic Actuary]

I'm missing something. How do you draw this conclusion:

In the US, more is spent on eating and drinking out than eating and drinking at home.

From this graph:

Did the colors get mixed up in the legend?

aa

 

[Jimmy Higgins]

You keep asserting this in these types of threads and consistently refuse to defend the assertion.

Yes, we need to raise the minimum wage as part of an overall effort to increase the share of the national income that goes to wages and to reduce the share that goes to profits. But like all things economic it must be done slowly to allow the economy to adapt.

Yeah but if that is a good idea, then you are clearly stating that raising it to a babillion billion an hour would work even better! *zing*

I missed the part where you explained why it isn't a good idea.

Jimmy Higgins: I love fresh air.
dismal: Then why do you live in a house and not outside?

- - - Updated - - -

I'm missing something. How do you draw this conclusion:



From this graph:

Did the colors get mixed up in the legend?

aa

I'm not certain why bars should be included there anyway.

 

[dismal]

Jimmy Higgins: I love fresh air.
dismal: Then why do you live in a house and not outside?

I don't understand why you think this analogy applies.

If someone argues a $15 minimum wage is great because it gives restaurant employees more money to spend in restaurants how does it not follow that a $50 minimum wager wouldn't be greater?

Wouldn't they have even more money to spend in restaurants?