Author Topic: What you need to get a Tim Horton's  (Read 1386 times)

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Offline SirJohn

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Re: What you need to get a Tim Horton's
« on: January 12, 2018, 09:27:08 am »
Is the government obliged to ensure that the fast food business thrives or is it responsible for the economy overall ?

The macro economic situation doesn't seem to be addressed here, ie that many millions of dollars will go to the lowest earners and biggest spenders.  Whatever THEY spend money on will see more revenues.

The economists say differently. Every one I've read quoted in various news media says that overall this is not going to help anyone as the employees with better wages will wind up paying higher prices for things anyway, simply because every single service industry they use will have to raise their prices, as will places like grocery and drug stores. In addition, tens of thousands will lose their jobs entirely and the move to find automated systems will be given another push. In terms of non-service industries, like manufacturing, obviously they will now be less competitive with imports and less competitive in trying to export to other countries with lower minimum wages.

Remember this will not only impact minimum wage earners. Min wage was $11.40, which means that in December, some employees with more skills were making $14, $15, $16hr. Do you think employers can keep paying them what is essentially now minimum wage? Hardly. They'll have to bump them up several dollars an hour too.
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