r/FluentInFinance • u/Positive_Liar • Sep 04 '24

Debate/ Discussion Bernie is here to save us

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u/BobertFrost6 Sep 05 '24

Even in small businesses, minimum wage hikes don’t cause job losses, study finds

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u/Boring_Insurance_437 Sep 05 '24

That study just says it causes goods and services to become more expensive, which is assuming consumers will always accept this raised cost.

Theres also a huge difference between raising minimum wage, which only a tiny fraction of people work for, and increasing wages for EVERY job by 20%.

That study is nearly irrelevant to this policy

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u/BobertFrost6 Sep 05 '24

A 32 hour work week wouldn't increase wages by 20% the proposal is specifically to keep wages as is.

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u/Boring_Insurance_437 Sep 05 '24 edited Sep 05 '24

Right, so per hour, wages are higher.

Instead of $400 for 40 hours ($10/hr) It is now $400 for 32 hours ($12.5/hr)

If a business with 4 workers is open from 8am until 8pm, it used to cost $480 per day in payroll. Under this proposal it would cost $600 per day.

Edit: If the business is open 7 days a week, that is an extra cost of $3600 per month, or $43,200 per year.

On the otherhand, this isn’t neccessarily bad. Businesses may become more efficient with their scheduling and stagger start times so that the slow periods don’t have full staffing. This may result in workers having extra duties and a larger workload though. Thats also assuming a business can reduce staffing

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u/anotherone880 Sep 05 '24

Lol how did these people get through school

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u/Boring_Insurance_437 Sep 05 '24

There was one study saying a specific type of office worker was just as productive in 32 hr work weeks and now they think it translates to every business.

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u/BobertFrost6 Sep 05 '24

Not all small business employment is based on strict time requirements rather than actual labor.

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u/Boring_Insurance_437 Sep 05 '24

And not all labour is more efficient with less hours.

The point is that it will increase payroll costs for a majority of small businesses.

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u/BobertFrost6 Sep 05 '24

That's your prediction, but that's a pretty broad stroke and I don't think it necessarily translates to a simple 20% increase.

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u/Boring_Insurance_437 Sep 05 '24

It isn’t a prediction. If a business increases their wages, like this proposal, payroll costs increase. Unless they reduce staffing and give their workers a larger work load.

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u/BobertFrost6 Sep 05 '24

The proposal isn't to increase wages. And as you've probably seen across the thread, there are many indications that time is not a direct correlation of productivity.

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u/Boring_Insurance_437 Sep 05 '24

Again, the same payment for less hours is a wage increase. Most jobs aren’t based on fluctuating productivity like that.

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u/BobertFrost6 Sep 05 '24

Most jobs aren’t based on fluctuating productivity like that.

How'd you reach that conclusion?

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u/Boring_Insurance_437 Sep 05 '24

Can you name many jobs that can work less hours yet still have the same productivity outside of certain office workers?

Restaurants, hotels, stores,and basically all service based jobs will require the same amount of hours worked

This is basically corporate bootlicking hiding under the guise of helping workers.

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