S.F. becomes first city to top $10 per hour minimum wage.

Discussion in 'Economics' started by peilthetraveler, Dec 12, 2011.

  1. http://finance.yahoo.com/news/sf-becomes-first-us-city-084124973.html

    This article really talks about how great this minimum wage is and how people are going to have more money in their pocket. But my 21 year old cousin lives in S.F. and about a week or so ago told me "Job-searching is so depressing. Apparently I'm not even qualified to open doors for people at an apartment building without a fucking Bachelor's degree"

    Currently S.F. also has the highest rate of homelessness in the entire nation. This higher minimum wage isnt going to help unskilled workers at all, it will just put more people on the streets in my opinion.
  2. College can be very detrimental to people in their late teens. Start 4 years later than others, with a load of soul-crushing debt.

    Just sold a domain name for $1500 that I paid $7 to register. That's a business a 12 year old could get in - like my 12 year old daughter who I'm encouraging to be an entrepreneur (also teaching her how to drive, and get around in the world - she loves it).

    Online learning is free, and can be higher-quality than a 200-Freshman introductory class taught by a graduate student. My daughter may still go to college - but not with debt, and I'll be pointing out the useless vultures along the way.

    Adults should be ashamed of themselves when they prey on young people.
  3. Tsing Tao

    Tsing Tao

    Gonna make business leave San Fran if they have to pay that kind of money. It won't work in their business model.
  4. Gingrich wants an irish corporate tax code, why dont we have an australian minimum wage of over $13 per hour, I mean since were trying to emulate foreign nations an all.
  5. zdreg


    "Online learning is free, and can be higher-quality than a 200-Freshman introductory class taught by a graduate student."

    online learning for college credit is unlikely to be free.

    higher quality may turn out to be true but you still are likely to pay for it.

    .... with which we will soon only be able to afford a stick of gum!

  7. SREC


    Well now, S.F. is one of the best places on Earth to be homeless.
  8. SF is a liberal, socialist shithole. i know someone whose family has a small business there and they hire people under the table because if they had to pay people minimum wage and benefits, they'd have to lay off employees.

    their socialist policies, from rent control to mandatory healthcare for employees, is the reason it's so expensive to live there. it's not because it's such a desirable place to live -- there's a lot of crime and homeless beggars and horrible FOB drivers, and the weather sucks ass.
  9. That comment is actually quite to the point.

    Inflation is a regressive tax. The less you have, the more you feel it. It doesn't just eat into your marginal expenditures.

    So the guys at the bottom rungs always get whacked with the invisible tax the worst. Though most of them probably don't even understand that...
  10. WS_MJH


    I believe they also have a payroll tax in the city, which is a big deal for tech companies. Twitter got out of it, but some others won't. It's a nice city in parts, but the taxes, regs are out of control. It won't change though; you have to price it in. Worse, CA will have a few ballot measures next year that could jack up taxes. A middle class guy would be taxed then at 11%. unreal.
    #10     Dec 12, 2011