Comments by "Sar Jim" (@sarjim4381) on "Soviet Comrade's Ideas About $15 Minimum Wage in America #podcast" video.

We should make the minimum wage $25. Why not $50, or $100? The minimum wage ultimately will have exactly the same purchasing power as the minimum wage does today. Prices will simply increase to match wages. Businesses always have to pay exactly the wage that will attract the workers they need to staff their business. A low skill, low requirements job will only be worth the minimum wage. A company like Costco has less staff per thousand dollars of good sold. A Costco employee has to work harder and be more productive than a Walmart employee, hence Costco can afford to pay more. Just watch a Costco checker compared to a Walmart checker if you don't believe me. No one will work for less if if they have the skills, the work ethic, and abilities and another company is paying a higher wage.
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@richb.1484 Yeah, they do. My son was a stocker at Walmart and then Costco when he was going through college. He was moving and stacking about 20% more stock than he did at Walmart and he had the muscles to prove it.
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@richb.1484 You can call bullshit all you want but you are doing so from a position of pure ignorance. It's not difficult to find the amount of sales per hour of labor for any of the major stores. Costco consistently has the highest sales per labor hour. Do you think that all happens by magic, or do you think someone has to work harder to get the goods on the shelves. I realize you're a leftist that would like your narrative about the exploited workers to be true, but it's not. Businesses always pay employees what their labor is worth to the company. If they didn't, everyone would leave to go to better jobs. At least in the US, no one has to stay in a job they don't like.
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@thotslayer9914 Sure, if you mean the Marxist theory thereof. I'm all in favor of the employees getting to share in surplus value (profit) as long as they share equally in losses. Equal risk and reward is a great class arbiter. Believe it or not, employees in each of my three businesses were totally in favor of profit sharing, but they balked at loss sharing. This is just one of the ways that Marxist theory falls down. If there are no capitalists, who absorbs losses?
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@thotslayer9914 No, I'm a left leaning capitalist. I'm only a libertarian in that I don't want the government running my business. Otherwise, I am pragmatic as long as whatever system we come up with doesn't violate anyone my or anyone else's personal freedom. My problem with socialism is that it always does so, no matter how it starts out.
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@caseycu What? How does the gap between the middle and upper classes affect wage inflation? Rising prices affects all classes, but affects the least well off the most. Purchasing power for everyone is diminished by inflation, and the more inflation the more agitation there is to raise wages. The periods of inflation following both world wars and the disastrous Fed caused inflation of the 70's proves that too much money chasing too few goods will always cause trouble.
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@thotslayer9914 Nope, not me. Hardshell capitalist, but I did take the time to learn other political systems.
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