Quote:
Originally Posted by redpoint5
Looks like Washington (state) is getting serious about competing with Oregon to have the largest unemployment rate.
I see this outrageous minimum wage as a subsidy to the robotics industry.
I wonder why I haven't seen riots in the streets from those soon to be unemployed because they don't have the right to work for a price they have agreed to, that is below some arbitrary number. Shame on the government for taking away the right to freely negotiate the price to exchange ones own labor for.
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Nailed it.
The rioting won't come because minimum wage earners typically don't have a rudimentary understanding of economics. There were huge demonstrations before this was passed that were primarily minimum wage earners wanting to get the minimum wage increased. Those that got on the news indicated that everything would be the same as they are now, just with higher wages.
This is only for the City of Seattle (as well as certain jobs in Sea-Tac from an earlier law that was passed) not all of Washington. I'm guessing a lot of these businesses will fail as people travel outside these areas to get the same services for less.
Some businesses have been adding on a "Living Wage Surcharge" to the receipt to make it very transparent. I think all affected businesses should show this so consumers really get an idea of the ramifications.
Seattle Area Biz Tacks 'Living Wage Surcharge' Onto Receipts In Response To $15/Hour Minimum Wage - Forbes