WIN? Amazon Raises Minimum Wage to $15
WIN? Amazon Raises Minimum Wage to $15
--Amazon raises its minimum wage to $15 per hour, but progressives like Senator Bernie Sanders believe a lot more has to be done to reduce the company's role in income inequality and corporate welfare
Knowing Amazon this means that some people
will get fired so the company can save some $$$$
and Amazon will learn how to squeeze even more
blood from their turnip employees. Perhaps it is
only a win if you do not work at Amazon. (ツ)_/¯
Or it will drive up all wages at amazon, and force their competitors to try to match their wages. This will not affect their net income in the slightest. I guarantee it. (even if their operating expenses doubled they would still be making profit with ease, same with walmart)
Also if you factor in income applicable to shareholders (how bezos and execs make their money) the company can more than afford to do this.
That's an interesting thought. I also wouldn't put it past amazon
to try and pass the costs down to their prime subscribers. They're
already working their employees like slaves, I can imagine there is
some tricks they haven't pulled out of theirs sleeve yet. I imagine
they will take a multipronged approach. Fire some folks and work
people harder while increasing the price for it's premium members.
Yeah, I am not gonna pretend amazon is some god-send of a company- it is possible they will pass the costs down to the consumer but then less consumers may use amazon. But Bezos has the capital himself to raise the minimum wage to $15, and this will probably increase the productivity of his employees (as well as generate a lot of good press), so it seems like a smart move to me.
Oh snap, this is crazy.. I never expected Amazon to act
so quickly in response to the minimum wage decision.
Competition is ruthless and cutthroat, they did
not get to the number one spot by being generous.
My guess is they already had that round chambered.
amazon giveth amazon taketh lol
Hopefully you are right. I'd be in favor of whatever
works out best. You may find this clip interesting.
Peter Schiff is really hit or miss, sometimes he is spot on and sometimes he is so off haha. I've seen this already by the way, I watch plenty of Joe Rogan :P.
The basis of the argument of minimum wage is that if you work ~50 hours a week, you should be able to survive. On $7.25 with $1200/month housing on average that just isn't possible. If the market can't provide for people (and there is no government/people driven incentive for them to do so) wages will stay stagnant or decrease, as they have done for the past 30 years. And if a system doesn't work for the majority of people (60% of people living paycheck to paycheck) the system needs artificial change.
As Peter explained a corporations only drive is profit and employers are meant to extract maximum productivity from their workers with minimum pay- if the market were completely "free" it would literally be slavery, corporations would push wages to $0.
Countries like Germany are able to have really low minimum wages because they have strong labor unions that will react (and force wages to go up) if cost of living increases. They also have a ton of co-ops (worker owned companies). Meanwhile the US gov helps corporations destroy unions, helps landowners gentrificate, helps health care companies price gauge, etc.
Minimum wage definitely isn't a simple issue, there's a lot of different factors to why it's necessary. But the free market "libertarian" idea that we shouldn't have a minimum wage is wrong.
I got so much for him and his father.
Yet, I disagree with you respectfully.