this post was submitted on 20 Jul 2023
288 points (98.3% liked)

US News

364 readers
1 users here now

News from within the empire - From a leftist perspective

founded 5 years ago
MODERATORS
 
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 13 points 1 year ago (1 children)

why would anyone pay that?

It's the law, son. It makes people do stuff. With guns.

[–] [email protected] -5 points 1 year ago (2 children)

But there’s no law that requires hiring anyone in the first place. I’m 100% for raising the minimum wage. I’m for raising it to at least a living wage. But the math does not work if the wage paid by the employer = the price charged to the purchaser. At that point, the employer’s best case scenario is $0 profit, and unless the work is performed, sold, and paid for immediately, a loss on every single transaction. No one has any incentive to employ anyone at that rate.

I have no idea whether $33.33 per hour is the actual productivity rate of the least skilled worker. I tried Googling it but the closest I could find is that the average American worker grossed $29.76 per hour, not the value of their work output. I also see a Bureau of Labor Statistics report that says the average worker creates $57.54 worth of goods and services per hour. But I don’t see the $33.33 figure in admittedly half ass searching.

Regardless of what the figure is, there must be some spread between work output and take home pay or no one has any incentive to hire anyone else.

[–] [email protected] 10 points 1 year ago (1 children)

The profit should equal exactly the minimum wage, no more and no less. In fact it should not even be called "profit", just the wage of the administration. Doesn't matter if a profession is "skilled" or "unskilled", people should be paid to live not to value their skills above others. No reason an MD should be paid more or less than a janitor and we wouldn't be able to live without either of them. The pandemic showed clear as day how much work is "essential" and badly paid compared to "inessential" and "skilled".

It's not even like employers themselves are particularly skilled anyways. Now if you believe that some people inherently deserve a worse life due to their profession, you can just say it.

[–] [email protected] 11 points 1 year ago (1 children)

Dont forget with raising that minimum wage to meet profit, we are also going to take the means of production.

[–] [email protected] 5 points 1 year ago

If they do not hire anyone, no work gets done. They have to hire about the same amount of people as already employed, as no capitalist trying to maximize profit is going to pay you more they they think they can get away with, and they will not operate with more workers than they need. They need us, we do not need them