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[–] Pluviou5 9 points 13 points (+22|-9) ago 

Basic economics is why the minimum wage being raised to $15 was wrong.

[–] EIMR 1 points 5 points (+6|-1) ago 

Minimum wage takes jobs, but I don't believe it's wrong. Nobody should work 40, or even 80 hours, and not be able to pay necessities. I am willing to sacrifice jobs, because those who work will have a decent life, and solutions to the growing number of unemployed people will be sought.

Also, subsidising McDonalds by giving their employees welfare makes no sense to me.

[–] Alopix 2 points 3 points (+5|-2) ago 

[–] Pluviou5 1 points 0 points (+1|-1) ago 

Basic positive economics is why the minimum wage being raised to $15 was wrong.

[–] bagano1 27 points -19 points (+8|-27) ago 

Yet you have no problem with some CEO doubling his $20 million pay. Think you failed Economics, retard.

[–] MrShekelstein 0 points 9 points (+9|-0) ago 

High CEO pay comes from exploiting cheap labor.

Jewish corporations are being forced to pay more for steel due to trumps tariffs right now.

These same jewish corporations are taking heavy "losses" on their profits and ceo wages and since they can't lower the labor costs anymore due to the minimum wage they just take it in the ass like the good little jews that they are.

The profit differences you're seeing goes directly to the steel industry which is more expensive in america due to higher wages and higher quality steel.

[–] Caesarkid1 1 points 8 points (+9|-1) ago 

The only one who loses in the case of the ceo's mismanagement would be the CEO and his company.

OTOH minimum wage hikes cut into every single business in an area and could even make some business models impossible to run at the prices consumers expect using legal labor.

[–] Laurentius_the_pyro 1 points 5 points (+6|-1) ago 

"oh no, someone with a basic grasps of economics pointed out that the thing I like is actually bad! Quick I must bring up a completely irrelevant point that doesn't prove him wrong but will hopefully distract from how wrong I am"

Let's say we, for the purpose of argument grant your premise that increasing a CEO's 20 million wage is bad, we will assume you are correct here irregardless of if you actually are or not.

How, exactly would raising a CEO's wages being bad prove that raising minimum wage is bad? Minimum wage being bad for employment is basic economics, for a multitude of reasons.

Firstly it encourages the hiring of illegal alien workers who are paid under the table anyways and therefore are not subject to the minimum wage, discouraging hiring Citizens. This also encourages illegal immigration.

Secondly, and more directly relevant to the the example given in OP, when the minimum wage rises above the cost of automation, people are put out of jobs. The greater the difference between minimum wage and the long-term cost of automation the more likely companies will be willing to sink the upfront investment of automation.

You didn't just fail Economics, you failed basic logic.

[–] kevdude 1 points 3 points (+4|-1) ago 

Yet you have no problem with some CEO doubling his $20 million pay. Think you failed Economics, retard.

Life isn't fair. Maybe if we stopped subsidizing the useless eaters they would stop breeding.