Enemy of Capitalism: Capitalists

[@logantaylor8965]

When AZ raised the minimum from $8.05 to $10 overnight my boss cut everyone's hours, which made everyone's shift drastically more difficult, not to mention I was already making near that $10 an hour because I worked hard and earned raises. I didn't get a bump past the $10 because my boss was already strapped paying his employees, and I ended up really making less because everything else got more expensive. I was essentially making less money and working even harder. That place was out of business within a year of the wage hike.

[@randomguy9483]

There are both pros and cons to minimum wage just like you said.It does indeed reduce entry level jobs.

[@Maximara]

Adjusted for inflation 1968's minimum wage of $1.60 is equivalent to $11.37 in 2018. If you can't pay the equivalent of 1968's minimum wage you are doing something wrong ie hiring too many people, running the business ineffectively, or a dozen of other things.

[@randomguy9483]

@@Maximara why did you pick the year 1968? Why not any other? Well in any case i understand your point. www.aier.org/article/what-should-minimum-wage-be. This is an interesting read.

[@logantaylor8965]

@@Maximara I mean I guess its comparable comparable to the 1968 minimum wage but that doesnt change the fact that most people working there weren't even worth the 8.05 an hour. I am not a huge fan of even having a minimum wage.

[@Maximara]

@@logantaylor8965 So you would like to live in the dystopian mess that existed before the minimum wage exist ala _The Jungle_ or _Midnight is a Place_ ? The minimum wage should be a "living" wage ( provide enough to have a roof, utilities, and food) and even the $11.37 adjusted isn't enough.

[@WarningStrangerDanger]

You have to ask yourself, why do the richest Americans advocate so hard for high taxes, tighter regulations, more socialism, and less freedom? The answer is not "kindness."

[@XChristianNoirX]

What is... CONTROL

[@GretchentheAlligator]

They want to own us

[@markflierl1624]

Stossel answered your question at 3:30.

[@midmichiganrr24gp9]

because large corporations can take the hit whereas small and medium size companies can not. It squeezes out competition.

[@ferraridav]

EBE The answer believe it or not, is greed. A lot of these people believe in demand side economics. So the idea these rich corporatists have is tax other rich people (not themselves of course), give that money to the "poor", and the poor will in turn buy their products, effectively giving that money to them. Theres some sense to this since (statistically speaking) the poor dont save excess money nor invest in improving their abilities/condition, but instead buy consumerist crap that they dont need, cant afford, and dont improve their lives.

[@jeffpadilla9891]

Why do they act like entry level jobs are a bad thing? This is so crazy.

[@gblargg]

Because everyone working has a family with two kids they have to support. /s

[@dindi6986]

@@gblargg So its better to give him free social rather then open oportunities even such as low paid job so they can gain expirience and get pay more later? You, my friend, want stagnation, not progres and better future for those people.

[@gblargg]

The /s means that the previous text was sarcasm.

[@SgtJoeSmith]

@@gblargg yeah thats the problem though. every time i tried to promote and pay an employee more they quit. they refuse to leave their easy entry position. i tell them if you arent going to work your way up in the company then dont waste my time. im not getting younger. so they quit to do entry level work somewhere else. they dont want to work harder for more money. they just want more money for same thing. well i can only charge so much for a car wash other wise customers wont hire us. rebuilding transmissions though i can pay $80 an hour cause i charge $150. no one gonna pay you $80 an hour to hose off a car with the garden hose though.so if they just want to stand and hold their dick and do what a 12 year old can do they gonna get paid like a 12 year old. even if they are 45 with 5 kids.

[@YesuAiNimen]

@Poltiticslogicallyreformed. Amen

[@auspicious6554]

The day after the $15/hour minimum wage got voted in for WA, my boss, a restaurant owner that employed 4 people, cut everyone's hours by a third.

[@bradhaines3142]

suprised they cut that little to be honest

[@Defrap22]

Just get a second job with less hours and youre back working as much as you used to while getting paid more

[@paulsiangg456]

@@Defrap22 Sarcasms or realism?

[@notchbeard9007]

@@Defrap22 Gotta love idiots like you. These min wage hikes don't help anyone, all it does is give sellers the ability to raise their prices phenomenally and pay their non-minimum employees less. I am a Manager at one of the Corps being discussed in the video. All $15 an hour will do is give me less people per day to achieve the same tasks while I get no raise in pay relative to the increase in min wages. So my job is now more difficult while giving no additional pay and demotivating me from even trying to climb the ladder of success when politicians are just going to erase my wage gains. Seriously considering going back to an entry level job because the pay is no longer worth the stress.

[@LoggyWD]

What were you paid before? $10/hr? If a restaurant can run equally efficiently with 2/3 of its employee man hours, that shows you how bad the business was.

[@mrburns366]

I can't believe John is 71! He's aging remarkably well!

[@shragamildiner8472]

He is??

[@Alexandrius_Caesar]

Are you serious?? I thought he was early 60’s MAX.

[@venglomarci]

You are right! He looks like he could be 50 something

[@emperorantarctica6210]

He is 71? I thought he was way younger. I thought he was maybe around his mid 50’s

[@aerospaceracecraft8954]

I think it’s 90% the mustache😂

[@woods.water.123]

Enemy of capitalism : monopolys hiding in plain sight

[@woods.water.123]

@Oritra Kar most civilizations only last about two and a half centurys

[@Frankthegb]

Looooool no, capitalism literally benefits from monopolies. Monopolies are enemies of the _people_

[@JesusGodHolySpirit3]

Fuck Amazon I don't buy from them! I will go another route! AMAZON ISN"T CHEAP!

[@vincentpresscod7531]

But Amazon isn't monopolist, is it? Now, at least, it doesn't seem this way.

[@nightmareking8193]

​@@vincentpresscod7531I am a Capitalist my self and Amazon is a corporate monopoly that can bust Unions

[@TheSupersayin2]

Alright I'll like to say this, I'm 25 without a college degree. I started when I was 18 at mcdonalds for 7.25 and then went to a grocery store for 7.50 then to walmart for 7.95. At each job I worked hard and proved myself. By the time I was 20 I was making 17.50 an hour from another company. I stayed at the company for almost 4 years and left last year making 18.70. I now work for another company making 55k+. My point is I worked hard got experience and found better jobs, I didnt complain for better pay I showed I was worth more pay. I just worked hard most of the time that's all it takes, hard work and good attitude. (P.s. no I never made it to any management positions all my jobs were technically entry jobs.)

[@FadeHook23]

Mythickillz anecdotal evidence doesn’t make your claim anymore valid.

[@TheSupersayin2]

@TheDarkKnight I didnt see your message. Try looking at jobs as vendors, fritolay, coke, pepsi, and others. I mean even walmart gives most department hour managers anywhere between 13 to 15 an hour. At least in indiana.

[@Libertad-xi1ey]

I admire your attitude. That is the way to go. Work hard and stop expecting handouts. Congratulations!

[@gamingllama7464]

You sir is the kind of person I respect most in this world. I applaud you for your success and you should keep working hard at what you do. Well done

[@TheSupersayin2]

@@gamingllama7464 thanks, I wasn't trying to brag to anyone. I live in a tiny town in Indiana. There are quite a bit of jobs that pay over $15 out here now. Alot of factories.

[@thagrit]

You know what you missed John? When the minimum wage goes up so does the price of everything. This makes people on fixed income have even less buying power.

[@trcy1977]

I agree. I'm against minimum wage because it's unbiblical.

[@rs72098]

You're forgetting supply and demand economics. Demand doesn't always rise when wages increase.

[@Horerczy]

@@rs72098 supply and demand isnt the only thing that effects cost. When the cost of buisness rises the cost of goods will rise to pick up the slack or costs will be cut elsewhere (usually in the form of reduced hours or fewer positions being hired for)

[@Sovereign_Citizen_LEO]

Of course inflation does that already. Economics are very complex, because it goes both ways. Realistically, we could all justify (based on inflation alone) reasonable increases in the minimum wage, -especially when employers don't give their own salary raises or cost of living increases. But on the other hand, the points you made are also true. So it goes both ways, and is a double edge sword. The only people who truly make out on top are the Central Bankers who set the interest rates, manipulate the markets, print FIAT currency out of thin air, and loan it all back to the government at interest.

[@DesiMeRollin290]

So what about elasticity? Will prices rise equally with the wage increase? What about social security increases? What about medjcare funding increases? What about all the parts of economics that people don’t consider? Supply and demand is NOT the ONLY concerns.

[@matteo8080]

"I can't get someone to voluntarily pay me a wage i want, so i demand the government point their guns at them and force them to!"

[@asillynertasillynert2204]

The irony was when someone pointed out bernies staff wasn't making 15hr they then cut hours and cut staff. To make it so yay were paying 15 but wait didn't you say places wouldn't need to cut hours/employees it was very amusing. The thing that gets lost in this discussion that no one brings up why are so many employees NOT on welfare I mean its not a living wage right. Wait you mean to tell me they live within means. And that people on welfare are having kids and doing other things despite knowing they are not financially capable of supporting kid themselves.

[@georget8008]

Or... I demand from the govt to hire me in a public sector job. Once i am hired i put pressure for salary raises in the public sector. Since the govt is not an entrepreneur seeking profit, they have to consider the following: If they give that raise, they won't have to pay it out of their pocket but out of the Treasury Dpt's. Plus, they will make me vote for them in the next polls. If they don't give that raise, i will vote for their opponents in the next polls. What would you do in the govt's position?

[@pepsicola6951]

"Cant get ppl to pay me what i want, so the govt needs to come and point their pistols at them"

[@gblargg]

And "It's illegal to pay less than minimum wage, because the workers can't make enough to survive, but it's fine to go out of business so the workers make $0 an hour."

[@Brianbeesandbikes]

My rebuttal to TOSSEL "THE TOSSER" >> What labor market changes have generated inequality and wage suppression? Employer power is significant but largely constant, whereas workers’ power has been eroded by policy actions. " Labor markets in capitalist economies are fundamentally tilted against individual workers’ ability to bargain effectively with employers. Policy does not have to be rigged FOR employers to give them particular clout in labor markets; instead, the very nature of these labor markets gives them clout." From Economic Policy Institute article www.epi.org/publication/what-labor-market-changes-have-generated-inequality-and-wage-suppression-employer-power-is-significant-but-largely-constant-whereas-workers-power-has-been-eroded-by-policy-actions/ Why Aren't Wages Keeping Up? It's Not The Economy, It's Management " 40% of Americans had trouble paying for food, medical care, housing, or utilities in the last year. Nearly half of Americans have no retirement savings, creating increases in stress-related illnesses and heart disease 63% of Americans do not have $500 of cash on hand to handle emergencies or other significant expenses 70% of college grads have $15,000 or more of loans outstanding in their first year of work 4 in 10 Americans now have a “sides hustle” to make more money to help make ends meet[9] Employers like Wal-Mart, McDonald’s, Ubers, and Outback Steakhouse are now building programs to pay people every day, so they can better manage their cash." From Forbes article www.forbes.com/sites/joshbersin/2018/10/31/why-arent-wages-keeping-up-its-not-the-economy-its-management/#58b0980e397e

[@jackmeoff8953]

Why should an unskilled worker get the same wage as a skilled worker?

[@jackmeoff8953]

So what you are telling me is that I skilled and trained nurse gets the same pay as an unskilled and un trained McDonalds' hamburger flipper?

[@justinwright1745]

@@KevinJDildonik A cashier or a burger flipper isn't a 15 dollar job. All that does is raise prices lower jobs and move people out of the area

[@skapunkoialternativeliving6522]

That's why I would steal from you and Rob you blind to make up a difference believe that I would rub you

[@ferraridav]

Jack MeOff Because having 3 houses (including a lake house) paid for by the tax payers is a HUMAN RIGHT!

[@PerfectBlue7]

you paid unskilled a decent living wage ($15) and the skilled is paid more. simple.

[@n9wox]

Amazon's $15/hour minimum wage came with a price. They lost their stock options.

[@lenblack1462]

I doubt many were taking advantage of that.

[@n9wox]

@@lenblack1462 Why not? As long as the stock price has risen from when the options were awarded, you can do a cashless transaction and reap the earnings.

[@muslimmetalman]

That's capitalism for you. The "wage raise" was a PR stunt on Amazon's part.

[@n9wox]

@@muslimmetalman $15/hour with pressure from America's favorite capitalist, Bernie Sanders

[@anim8dideas849]

There still there switch brokers

[@davidpowell2247]

When the minimum wage goes up, so does inflation. Making my wages worth less.

[@Kenneth2413]

Yes and no. In the absence of additional regulations yes it would. However, if a regulation was passed that no employee or independent contractor that works for a company can make more than 200x what any other employee or independent contractor makes at that company ( not counting partial ownership of the company or intellectual property), then your pay would be able to buy more. Companies didn't used to pay their employees so much less then their ceos. When the pay was closer to the employees everyone else made more ( adjusted for inflation).

[@IrelandVonVicious]

@@Kenneth2413 yep. Maximum wage is a better idea.

[@michaelgray1803]

Who cares everything else is going up businesses have to make a profit but pocketing billions while paying minimum damn I've heard of the lions share but not the whole carcass

[@princessmarlena1359]

Kenneth2413 I heard they did that in Japan.

[@IrelandVonVicious]

@Madubuko Ubesie only if it's a hard cap. As something that has a cap and then goes up as a percentage of employee pay roll would allow motivation to work harder.

[@Acesahn]

Enemy of Capitalism: Corporatism. Fixed your title for you.

[@dsuess]

Correction, you mean folks like Sanders

[@nobilesnovushomo58]

Corporatism loves socialism.

[@JAG8691]

@@nobilesnovushomo58 Who do you think enables Comrade Sanders to buy his mansions?

[@toorimakun]

Yep, But people STILL haven't figured out that corporatism is a completely different system from capitalism. Corporatism is actually closer to socialism if you ask me..... same exact flaw in both of them: All the power is at the top.

[@JAG8691]

@@toorimakun Agreed.

[@sdushdiu]

The minimum wage is simply another barrier to entry for small businesses protecting established companies.

[@chaunceystewart9960]

100% correct!!!

[@norsefalconer]

1099, just sayin'

[@sdushdiu]

@Dark Horse A business can pay anything they desire. People then have a CHOICE and a responsibility for the choices they make if they choose to work there. Stop raising self-entitled victimhood to an art form.

[@sherifatew4894]

Dude which america do you live the era of the small businesses are long gone they are relegated to strip mall s.

[@razerfish]

@Dark Horse Who are you to decide why a business should be there? And who are you to get in between a willing employee and an employer, you snob. Would you rather that person starve so you can feel good about yourself? Free to choose means you don't get to impose yourself on others.

[@DadBodDrumming]

Capitalism, leads to Cronyism when Govt gets involved.

[@theburners32141]

A more correct statement would be “When government gets involved in free market capitalism, it creates cronyism”. Are you a socialist? Because your statements reads as such.

[@gblargg]

When government is involved it's not capitalism, just capitalism-flavored socialism.

[@revdraco]

Hence, Ringo's Law: Everything government touches turns to crap.

[@kimobrien.]

@Human Resources Socialist want to overthrow the capitalist state and replace it with workers control of industry like in Cuba.

[@kimobrien.]

@@gblargg Capitalism need a strong centralized national state power.

[@johnnydegs41]

It's basic economics: minimum wage is a price floor in the labor market, which creates an excess supply in labor (workers) and a lower demand for labor from employers at that price.

[@stephanesurprenant60]

Empirically, the validity of this claim seems to depend on the minimum wage hike contemplated. If the minimum wage is binding, any hike should decrease hours worked in equilibrium, other things equal. But Card (1990) showed clear cases where the presumed effect was not satistically significant. One reason for this is that the model you are using is not a good model of the labor market. You need more sophisticated models to capture what is going on, such as those involving search and matching and consider explicitly how workers differ from one another. You won't ever get a situation where a sound theory implies 20$ minimum wage today would not cost jobs, longer average unemployment duration or fewer hours worked, but you might get more nuanced answers. Besides, people on the left complain about bargaining power and your ECON101 labor market model excludes this upfront. Obviously, if you exclude strategic interactions, arguments about it will never make sense. But it's understandable; unfortunately, these nuances only show up in PhD courses and never in undergraduate level textbooks.

[@whatsinaname691]

Stéphane Surprenant Tell that to the 72% of economists who believe that a minimum wage of $15 per hour is a terrible idea www.epionline.org/studies/survey-of-us-economists-on-a-15-federal-minimum-wage/, or to Keynesian Paul Krugman who had this to say about your Card study: www.americanexperiment.org/2017/07/liberal-economist-minimum-wages/. It has been seen empirically that minimum wage hikes reduced employment ftp.iza.org/dp2570.pdf, and the companies started to hire already skilled workers, keeping the upcoming ‘workers’ from entering the field. Workers also ended up making less overall, or if a select few did earn more, it was at the expense of others. With the wages up, prices went up too. While Some studies find that jobs don’t go down, or that the poor are helped by the changes, those are far out water by the vast majority of studies that run completely contrary to them.

[@sjoerdderks4731]

As it comes to job's, you have to start somewhere

[@Frankthegb]

Always have to love people who say "iT's BaSiC eCoNoMiCs" when actual economists don't even know what the fuck the economy really is

[@ryan4327]

I would consider them more cronyists than capitalists. If either side is pandering to the other, that's cronyism, not capitalism. In fact, cronyism is antithetical to free market capitalism as it stymies healthy competition and uses taxpayer money to grease the wheels, as it were, instead of the company using its own steam to progress.

[@stvargas69]

What does Bernie know about minimum wage? He never worked before taking office

[@Cooldudewhotellsamazingjokes]

Yup.

[@natehill8069]

..nor after

[@salvagemonster3612]

Oh he lived with his mom and ran around with a video,camera doing interviews on the street.

[@duckokido7150]

"...Hang out on the street..." *Shows clip of a drug deal*

[@TheBoxingNinja]

*play video games*

[@ITPalGame]

@@TheBoxingNinja that depict drug deals

[@sbutte1127]

But drug dealing is providing more jobs? Why is this illegal?

[@MoarteaLunii]

@@sbutte1127 😂

[@mrholdbutton971]

Bezos (and his ilk) are not capitalists, they're corporatists. Using their gvmt propped up monopolies to extract as much money as they can from the populace, while lobbying or colluding directly with politicians to craft policy which prevents competition from ever threatening them. That isn't capitalism, its soft-socialism, by fiat from lobbying and policy efforts, rather than the gvmt directly controlling the means of production. Supply-side economics requires that there is a free market which determines who succeeds based on their own merits and the marketability of goods and services. That is 'capitalism'. What we have now, where regulations, tax loopholes, kickbacks and SuperPACs doesn't even resemble supply-side economics.

[@senateboy0909]

It always leads to that point, get big enough then you thirst for power through political influence, power and capitalism go hand in hand in the end

[@electricdazz]

at what point does capitalism become corporatism?

[@AvroBellow]

A perfect example of this is the military-industrial complex. Good call!

[@Dark_Daedalus]

Breaking news from present day: Bernie refuses to pay staffers $15 minimum wage. Instead offers people better hours

[@Cyberviper8]

15 would and will become the bottom and the top. The dumb don’t know that once 15 becomes the minimum overnight all prices will rise making 15 seem like 10 again.

[@chadnoneo9769]

Or that's not exactly how it works. The average wages of US workers have been stagnant for decades. What would happen is SOME prices would go up a bit, but it won't be as much as you think. Also with more money being paid to workers, more stuff will be bought so they will make up a lot of the costs just on increased sales. The average low wage worker spends MORE than what they receive in pay.

[@bigboi6673]

There's no evidence that that happens, it's entirely theoretical. And like the user above me said, when you raise minimum wage, spending tends to increase, thus making it easier to run a business(and there's actually data to back that up). Also wages haven't risen with inflation. If you can't pay a decent wage, your business isn't economically viable.

[@Broformist]

That's exactly what happened multiple times in my country, Lithuania. They raise minimum wage, all of a sudden everything in shops costs more. And government assholes are talking about raising it again. I think minimum wage laws must hurt the minimum wage earners the most, frankly. People should be focusing on how to make money valuable instead of increasing its amount.

[@chadnoneo9769]

@@xerxesphilea5413 And you also receive a lot more benefits meaning you don't need to spend out as much out of pocket to get the same amount needed. The people in the US get stuck shouldering a lot more burdens that many other countries do not completely lay on their citizens. In Sweden there is decent public transportation which many cities in the US don't have and healthcare costs are often out of pocket or out of wages without touching on paying when you are sick.

[@trailblazer632]

Dont forget when everything increases along with that minimum wage hike your taxes go up. You end up WORSE off and the only winner is the government

[@Soul-Burn]

When the government is part of the market, strong players will use the government to their favor. Keep government out of the market and the market will have no incentive to lobby.

[@stewiegriffinfan18]

If a company cant afford 15 an hour, it deserves death

[@mikew2610]

Soul-Burn. The government can't stay out of the market because people base their votes on politicians saying they create jobs.

[@MM3Soapgoblin]

@@stewiegriffinfan18 You really don't get it do you? The company will be fine. But if the job is not worth $15/hr, it's gone. Hence why Amazon raised the min wage to $15/hr then started replacing employees with automation. Don't want to get paid less than $15 an hour? Go get a marketable skill.

[@Wipeout6546]

lol everything is so tight that it must be only revolution/war to change this or next planets like earth

[@abhirajarora7631]

@@stewiegriffinfan18 And what about the jobs that die with it? What gives you the authority to decide which company should die or not?

[@erik_arman]

I find it funny that people like Bernie Sanders use my country of Sweden as an example to look up to and emulate when SWEDEN DOESN'T HAVE A MINIMUM WAGE!

[@Eric-ye5yz]

Erik ..... Sweden is usually the reference for people dreaming about eradicating the federal minimum wage established by a government. However, these matters are wonderfully managed by very organized unions, which continuously negotiate wage rates in different industries to guarantee salaries’ fairness.

[@GuestYouTubeUser]

He only raised his wages to put his competitors out of business.

[@throatwobblermangrove8510]

I personally laughed when, right after he agreed to raise his minimum and got praised by Sanders, he announced Amazon will no longer be giving out bonuses and stock options as benefits. That $15 has to come from somewhere.

[@Baker.Matthew]

Throatwobbler Mangrove apparently amazon worker are ok with the cut to the bonuses. It wasn’t common to get the bonuses and people are getting paid more than what the bonuses provided.

[@Atombender]

No shit? But as long as millions of idiots buy everything from Amazon because they want cheap stuff and fast delivery, nothing's gonna change. It's not capitalism that sucks, it's the public.

[@senateboy0909]

Gotta love capitalism, stop complaining small businesses

[@pam0077]

That $15 raise in the minimum also came from their customers as well. Their Prime membership fee when up 20% soon after the hike, and i'm finding that their prices aren't as competitive as in the past. Their Black Fridays have been a joke the last couple years, but that's been true of their closest competitors as well.

[@davester1970]

Free market success for me, but not for thee.

[@beng4151]

Exactly. The hypocrisy is shocking. I want freedom, but only for me, and only when I allow it.

[@robedmund9948]

Capitalists vs. Capitalists, using Socialism to rid themselves of the competition.

[@sdushdiu]

What? ...no mention of postage/shipping subsidies???

[@ryanscottnix]

I'm not knowledgeable on this aspect of the subject. Can you fill me in? I ask in all honesty, and with respect.

[@sdushdiu]

@@ryanscottnix This is no longer speculation but has objectively been verified. Here is one of the early articles regarding the situation: fortune.com/2017/07/16/amazon-postal-service-subsidy/ and another is www.postaltimes.com/postalnews/why-the-post-office-gives-amazon-special-delivery/ Just search on Amazon postal (or shipping) subsidies and stand back.

[@ryanscottnix]

Very interesting! Thank you for the links!

[@halasimov1362]

Yeah another example of how the ruling class manipulate the system so take away power from the people and small businesses. Amazon operated how long without profits? This is a scam suto socialism/fascism where the rullers plot to undermine our society and it will get worse as we get less power! Higher minimum wage = less power to negotiate. People can't negotiate for themselves due to media hype about job loss and the system destroying options to live cheaper so you have to play the game of the dept system! Oligarchy is the problem

[@halasimov1362]

Government with Privatization, Corporations with regulations. This is all just tax and asset protection strategy of the oligarchs. All tools of the rullers to have power over you!

[@SociallyTriggered]

The problem is if you have a government setting the rules for business then businesses will do what they can to convince governments to adjust the rules in their favor. In a free market it is the consumers that creates the rules and only way businesses can win in that environment is to make the consumers happy.

[@SociallyTriggered]

@@xerxesphilea5413 Yup..this is what I always tell people. Governments have elections once every 4 years and businesses are in an perpetual election.

[@SomethinAintRightHere]

SociallyTriggered how is it so many people seem to grasp the basic concepts of economics yet the “experts” cannot?

[@SociallyTriggered]

@@SomethinAintRightHere LOL no idea. It annoys me a lot especially when I see people who promote socialism. If you watch my videos, you'll notice I'm constantly trying to explain the basics to people who should know better.

[@ataraxia2894]

Somethin Aint Right Here because experts do grasp this, they’re just abusing the system for their own benefit.

[@mikew2610]

SociallyTriggered. Your first comment is an idealist approach. Customers don't create rules and businesses don't always win by making customers happy. I will say it may apply to small mom-and-pop shops but not even close to large corporations. They win by monopolizing, paying little taxes, and investing their cash which has very little to do with customers.

[@jonyjonsy]

I see a John Stossel video. I click like. I'm a simple man. 👌

[@brushcountry6361]

👍🏼

[@therussiantrollnetwork7464]

I don’t know if I am a libertarian or a conservative because I agree with Ben Shapiro and John Stossel on almost everything 🤷🏿‍♂️

[@ludwigvonsowell5347]

Be a libertarian in the street and a conservative in the home.

[@therussiantrollnetwork7464]

Alex Minor economically i agree with everything John says. I think the only distinction would be that i am pro life

[@ItsTeabaggins]

The Russian Troll Network You can be a libertarian and pro life. Because a libertarian cares about the freedom over your own body, and a fetus has the same right to bodily autonomy, therefore you could argue abortion is immoral because you are taking gun away that fetus rights.

[@chrisperlaky8715]

If you believe in the non-aggression principle then you're a Libertarian. Ben Shapiro is a neo-conservative.

[@droptozro]

I get you haha. I'm a conservatarian. I generally describe myself as a conservative libertarian. Join the movement lol

[@pumpkinpie2978]

I tried to be a self employed person, opened my own store, my mom and I the only workers, it was so hard to pay rent and I couldn’t pay for my own health insurance, i remember people thought I was doing well because I had my own store. Long story short had to close the store and now I appreciate my employer, I know every cost to run a company means, hope to have my own business in the future but I learned a good lesson as well.

[@drillbitt4426]

"Hang out on the street" SELL DRUGS

[@sdushdiu]

How did Bernie become a multi-millionaire without a real job?

[@chieftp]

how did Bezoes become a multi billionaire without a real job?

[@sdushdiu]

@@chieftp What? He started a company, dimwit.

[@chieftp]

that makes him an entrepreneur - NOT an employee. he doesn't have a "job." anyone can tell you that you'll never become successful nor wealthy by working a "job." that's why Bernie doesn't have a "job."

[@islandbee]

@@chieftp - It was a job for Jeff Bezos. He did a lot of the delivery in the beginning to build the company. Bernie Sanders has always been a public servant, yet is worth millions.

[@chieftp]

1) how do you know what Bernie Sanders net worth is? 2) he has a "real" job (unless you don't consider being a US senator to be a "real" job) 3) a net worth of a million dollars is not very impressive, a million dollars ain't what it use to be 4) a 77 year old being worth a million (or millions) is not very impressive 5) a US senator makes $174,000 a year 6) is it somehow wrong for Bernie to make a living and have a high net worth? 7) what does Bernie Sanders have to do with this video?

[@2vnews902]

I think you mean cronyists.

[@VeggyZ]

They're definitely not living by the rules of capitalism with business practices like that.

[@GreenGearMood]

It's called vampire capitalism or crony capitalism. But the proper name is *corporatism.* And I wish it would catch on.

[@2vnews902]

@@GreenGearMood Nope, it is cronyism.

[@BenjaminOng5]

Unfortunately, when people turn to government as their provider and surrender too much power to it, it leaves the door wide open for abuse.

[@GreenGearMood]

+2VNews Listen to what I tell you.

[@prof2yousmithe444]

John Stossel. One of our daughters worked at Amazon for 2-3 years. During that time, 6-8 people in her call centre committed suicide. A few killed themselves there on the premises! Amazon is a difficult culture to work in. She worked on projects that, according to her, she needed to read into secret government agencies. I really wish I could talk to you about this. Maybe we could email?

[@cookiemon87]

So Amazon made them commit suicide?? It's their fault not Amazon. That's like blaming Walgreens for people who commit drug abuse. People need to take responsibility for their actions.

[@TheRealCaptainJamesTKirk]

I really enjoy these presentations by Mr Stossel. Thank you.

[@Corno-o3l]

I love Johns news reports... I have watched from a kid till now.. That's a long time

[@TigreXspalterLP]

Funny thing he forgot to mention: Unemployment never raises when you put a higher minimum wage in place. On a economics 101 level he is right. Higher minimums should lead to more unemployment. But when this does not happen, that means there is a market inefficiencies because of a monopoly like market structure. Turns out large corporations with their big hr departments and lobby groups force employees to take way lower wages than the market would normaly create. If you want to know more about this, read the wikipedia article about monopsonies and the labour market.

[@norsefalconer]

My advice for anyone under 30, Learn a trade, get (or stay) debt free, grow some of your own food, minimize your (outgoing) economic footprint. It's not what you make, it's what you spend.

[@boredfangerrude]

In many places, it's actually ILLEGAL to grow your own food.

[@GreenGearMood]

"grow some of your own food" Lol. What is he talking about. Where and how.

[@boredfangerrude]

The Earth IS warming though but what is debated is Humanity's contribution.

[@dallass194]

@@GreenGearMood You can grow about 50 potatoes in a 2ft by 2ft box filled with dirt. There are always ways to grow your own food

[@medicfriends8163]

@@GreenGearMood lol it's funny because of those that advocate pursuing trade careers rather than higher education are sort of clueless on how trades will be the first to go when it comes to market opportunities in the future. The demand will always be there, but it's gonna get more and more oversaturated with people looking to work.

[@Russianbro777]

I worked at a Hardware store at minimum wage and slowly got more money, starting noobs at higher rates is nonsense.

[@freakadelic7495]

I would argue that you got exploited with whatever starting wage you got, but if you didn't feel that way, then lucky you I guess. But not everyone gets that feeling of ease like you did when the amount they're paid can't even cover the basic necessities. That's what a job is supposed to be for, otherwise what's the point? And when companies don't pay a wage that's at least liveable, you and I have to pay more in taxes for the gov't aid programs that they inevitably have to resort to in order to cover the basic necessities. People should be able to live at least ok, and if somebody wants to attain a living that affords them a more lavish lifestyle than just basic, then all the better for them.

[@chieftp]

they're not saying start new employees at more than minimum wage, they're saying minimum wage needs to be higher because it hasn't kept up with inflation. it was $6/hr 20 years ago. now it's $7.50. meanwhile, everything has doubled or tripled in price.

[@MrA5htaroth]

Freakadelic: You ask "What's the point" but the point is stated many times in both comments and in the video- you START low because the employer can use you to produce value at that wage, and then you get experienced and end up with more because you can produce more value. This, of course, assumes you are willing to work and learn. @@freakadelic7495

[@freakadelic7495]

@@MrA5htaroth By that rationale, you could start at $0 with the idea that so long as you stay at the job, then eventually you will earn 50 cents an hour, than eventually 1, then eventually 1.50, then eventually 2... You'd probably say how starting at 0 is really low because that doesn't pay for much of anything and you'd be right, which illustrates why getting paid anything non-liveable in exchange for full-time work is not much of an exchange at all. That's the essential exchange that's suppose to be part of a job. Society asks that you contribute full-time work in order to help keep society running so in exchange you can at least live ok. An ethical employer would essentially break it down to you the likes of "If you work for me and do this and this and this AND this etc, show up to work on time, put in a good effort, be helpful to the customer (if customers are involved), do all this and anything else that could be asked of you, then you get a liveable wage in exchange for all your work because without you, my business doesn't really run at all and I'd have nobody to patronize it as a result." Only rub is with minimum wage being as low as it is, so many companies will ask that people work for them but not live up to their end of exchanging a liveable wage for the work. If minimum wage was really $0, then too many companies would "exercise their freedom" to exploit workers that way. They do whatever they can get away with in whatever case, which again means you and I are footing the bill for them via putting more tax dollars into gov't aid programs like food stamps because these companies take advantage of the social safety net instead of paying their employees right to being with. They're essentially telling you and I "oh you pay for my employees' necessities because I didn't want to", so how much are you and I really paying for that good/service we buy from them? Libertardians are always pointing to the fast food restaurant example of how someone hired to just flip burgers shouldn't be paid a liveable wage, or somebody hired to just sweep floors shouldn't be and some such. No, that's not how working there would go. A person doesn't get hired to do just one thing in exchange for liveable wage, they do multiple things: they flip burgers, prep other food, sweep the floors, clean and restock trays, restock other things like cups and napkins, intake orders, put together the orders, clean restrooms at proper frequency/intervals, keep the cooking/food prep equipment clean, all that and a whole laundry list of other things not mentioned here that the boss will ask of them as well as show up to work on time and be helpful to the customer and put in a good effort and such, and with all of this combined they produce the value that's a proper exchange for a liveable wage or else they don't get to work there at all, end of story. Of course you have more than one person doing these tasks at different intervals in case you think I'm saying one person does all this by themselves. At nightime maybe, when demand is less than during the day. Joe employee is essential to that business being able to make money in the first place, value that requires compensation that facilitates him to be able to at least live ok. Without employees to do these things, that fast food joint can't run how it's suppose to and nobody will want to patronize that place and they're out of business. The common libertardian refrain is the if someone is suppose to be paid $15 and hour instead of something closer to half that, then that business will only hire 1 person for a position instead of 2. But that rationale doesn't really follow because if a company only needs 1 person to do the work anyway, they'll only hire that one person anyway to be paid at the $7.50 rate, even if they could easily afford the 2 employees. They only need the 1 person because demand is low at that time. Demand for a business's goods/services is what dictates how many people to hire, not the rate of mimimum wage. If demand is low, then there's less traffic and thus less need for more employees. More traffic means more influx of money, and also more need to cover the extra workload so more people are hired, which is covered by that said extra money. Just like holiday time where companies take on more employees to meet the demand of that time and then later shed them. Or the nightime example from before where demand at different times of day influence number of people on payroll at a given time. Or for that matter, macro scales of time where demand waxes and wanes which influences the number of employees at a given time. Also key is with a liveable minimum wage for everybody, then everybody has more disposable income to circulate to the businesses in their nearby economy. I forget the number, but people below a certain income level always spend 90-100% of what they make. When they have a little more, they circulate the money more. Conversely, if they have less than they can support themselves on, then they resort to austerity and businesses that could otherwise see more money thrown their way won't see it, so it only seems to make sense that people shouldn't be paid more than what minimum wage is now. These are both feedback loops. Business success is measured in so many other ways, we all know that. And if a business's only way to stay in business is by cheating or shortcuts of some kind (in this case, cheating workers on pay), then that business clearly isn't survival of the fittest.

[@MrA5htaroth]

@@freakadelic7495 a boss paying a low wage is not "cheating his workers on pay" unless you have already accepted your final position that it is the company's legal or moral duty to pay them a "living wage". Your argument is circular. My grandfather started as an apprentice and his wages didn't cover his travel and food expenses. He could survive as he still lived at home. He ended up as a civil engineer in the oil industry, traveling the world, and comfortably supporting a family of four. I think that is acceptable, yes. You do not. I doubt we will persuade each other. I understand that you believe your position to be both ethical and practical, and thank you for the time you took to make your argument.

[@deborahblackvideoediting8697]

5:41 - I don't always agree with everything John Stossel says, but he couldn't be more right about this!

[@IncredibleMD]

"That is exactly the argument that people back in the day made about the minimum wage." Usually, it's hindsight that's 20/20, not foresight.

[@kosrules1884]

I work a minimum wage job as a bag in a grocery store. I usually get around 23 hours a week. But I know if my minimum wage was raised to $15 they would let me go.

[@drmodestoesq]

I don't understand. They would let a bag go? Like that scene in American Beauty where the bag was blowing around in circles?

[@deezeed2817]

Utter horseshit. If they can't pay you minimum wage then there's something wrong with their business.

[@drmodestoesq]

@@deezeed2817 Moreover, if they're paying money for an employee to be a "bag"....something is seriously wrong with their business.

[@jermainemyrn19]

Not true, I work at whole food before their raise and I'm still here working more hours

[@waterheaterservices]

Businesses will just have to raise prices and cause inflation. Then the raises will be worth the same. We went through this in the 70s. The poor stayed poor. I was a minimum wage worker. Then I learned how to do a high paying skill. Our lives are in our hands.

[@indiasaunders912]

I work at Amazon. I like working there. I knew it it was only going to be part time not get me where I want to be financially. So I got a second job.

[@edendupuy5059]

I love the video, but I had to do a double-take at 0:36. Totally off-topic but did anyone hear a grenade bounce there?

[@-Amiya-]

Ha! I caught that too.

[@reddeath5011]

When a CEO makes billion, and the company is worth over a trillion and an employee makes less than $10 and hour, there is something wrong with that math. The problem is those of us who earn very little cannot afford half the stuff manufacturers sell. We cannot afford to get a decent education. Those that did get an education owe enough money in loans that they will be in debt most of their lives. Even the experienced have a tough time finding jobs and have to work somewhere. When employee's make more money, they spend more money. The money people make typically go towards bills, which leave no discretionary income to buy stuff like TV's, books, going out to eat. If people cannot afford those things, then how do the businesses expect to stay open? it's a catch 22 for businesses. You pay your employees less, they have less to spend on what you sell.

[@50kaoeu256]

Education is expensive because of guaranteed loans, and the way that the school ranking system works. The government should also make it cheaper to CLEP courses.

[@jimmcgaugh2519]

minimum wage was $1.60 when I got my first job, and it was slave-wage back then

[@333kiel]

That journalist "oh, John!" has a very low opinion of people who choose to work at Walmart.

[@timg185]

I’ve been to Walmart and I haven’t seen many hard workers!

[@Sol36900]

For real. Three times, we asked an employee if they can give us dog flea medicine since they have the stupid locks on them. All three never returned! Most Walmart employees are a joke.

[@godbless6939]

Isn't that the truth

[@PenNamed]

Stossel has become my number one youtube channel. Not even tucker Carlson can beat this guy!

[@JoshThewhiteDad]

2:38 I love the way you said “hang out on the street” lmao

[@RyanTheFamilyMan]

2:08 holy hell why did you need to blast my ears for a second there

[@crosbyong]

"For every complex problem, there's a solution that is simple, neat, and wrong." H.L. Mencken

[@l0os176]

3:00 "Try living on $15/hour" holy smokes I PROSPER as an American with slightly above that.

[@MrRockguy01]

u live on ur own w/ a car and bills and u prosper on 15...ur fulloshit

[@r.d.9399]

No way in hell you prosper

[@Y.M...]

Come on, that's just barely making a living. If you have unbelievably low rent or bills, or have no children to take care of, it's manageable. That being said, minimum wage is supposed to help young people who aren't constrained by children or incredibly high bills. They earn enough to put themselves through better training and jobs, and move up in life. Some of the minimum wage advocates are people still waiting tables well into their 40s, which is kinda ridiculous.

[@apersonontheinternet8006]

Dude is right; the problem isn't $15 isn't enough, it's people buying into mass consumerism and keeping up with the Joneses. But hey, don't let me stop you from blowing all your money on designer clothes, thousand dollar phones, cable television, overpriced coffee and hipster (fast) foods. People have told me how wrong I'm living life because I don't have a 30k plus car, don't live in a McMansion, been wearing the same clothes for 10+ years, I pay more for the activation fee than I do for my new phones and don't go on ridiculous vacations every year. Up until the last few years I've worked for $15 an hour or less. I somehow managed to buy my own house, I own my vehicles outright, have a small camp and am currently making moves on 55 acres of land and I have an IRA and 401k with a sizable amount of money in it for only being 31. It tickles me pink when I hear people tell me I'm doing it all wrong when they are flat broke with no savings, no retirement, no property or any other meaningful assets to speak of. I'll keep my $3 khakis I bought at the thrift store and $5 Walmart shoes, you an keep living in debt up to your eyeballs while blaming it on everything else but yourself and your poor spending habits. But whatever; it's a you problem, not a me problem.

[@Mostopinionatedmanofalltime]

It's a crappy wage. But that's not the issue. The issue is that if you want to live well you have to gain the knowledge and skills so that you can get a career that will pay you six figures.

[@songhuchoe]

Capitalist stop becoming capitalists after becoming too successful. Libertarians: *Surprised Pikachu*

[@The.Red.Tomahawk]

songhuchoe Statist: The goverment is the one that gave them the money to make up the difference in the first place. Socialist fuck: Surprised pikachu.

[@TheSticlizard]

My son works for a hospital in our town. Educated as a firefighter and volunteer firefighter, job as firefighter spent 6 years as firefighter in Afghanistan. Came home still couldn't get a paying job in the home town as a firefighter. Wage $10-$15 an hour. Went back to college and became a x-ray technician. 5 years with the hospital and only earns $20 an hour. Pretty well depressing.

[@zacharyshoemaker835]

Huh I work at amazon and always thought we were paid pretty decently. I always pick up overtime though and notice a lot of people abuse unpaid time off

[@MrWatchmen759]

zachary shoemaker lmao I’m glad they have that upt

[@deadlyrng]

What position do you have?

[@zacharyshoemaker835]

Honestly just a standard stow position nothing special, but I can go over it in terms of a standard employee working night shift this is what your looking at. Base 15 x 40 x 52 = 31,200 Peak overtime: 55 hour weeks 15 x 1.5 x 15 x 6 weeks= 2,025 Shift differential overnight .60 x 40 x 52= 1,248 31,200+2,025+1,248= 34,473 401k. 50 cents up to 4% of pay .02 x 34,473= 690 Paid holidays 8 x 8 x 15= 860 36,123 total for a lax year. That's if your not trying to pick up time, but also not using unpaid time. First years get about 2 weeks paid time off, after that is 3 weeks. Overall it's not so bad. I should be clearing 40 next year with 2 shares of amazon stock on top of it. It's not a bad living for honest work.

[@zacharyshoemaker835]

@Roshea Yeah standard work day at one of the FCs is 10 hours a day 4 days a week. They also have a compressed 36 hour weeks. 12 hours a day 3 days a week, but it's weekend work. They also get compensated through another differential. That basically makes their 36 hours equivalent to a 40 hour week. I've never sought relief for aches and pains it's just a part of the job. I just remember that my job is luxury compared to what some other fellas are doing and shouldn't be complaining. I'm not out in the sun digging holes, demolishing structures with a sledge, or pulling stumps. There's some guy out there really hurting and still going to work the next day.

[@Countcho]

The dems who never set foot in a warehouse complain more than the actual workers of amazon

[@tigerbond4064]

The one issue no one mentions is that ,They all talk about the BIG guys, They have to raise the minimum wage .This is providing a protectionist enviroment that will not all any startups (mom and Pop) Shops to compete due to the high labor cost at start up! No one mentions this To support raising minimum wage is saying to NO to Small buisness in AMERICA! Let the free market dictate the wage!

[@Takeo2011]

I didn’t get Paid Jack Sh$t when I first started fast food many years ago. It taught me to better myself to work hard for more. I’m glad fast food gave me a opportunity at 15 years old with crappy pay. It helped me build character.

[@kayejaye7508]

If amazon cant afford to pay it's workers a proper wage *let* them collapse so competitors with a better business model who can actually afford to pay their workers can step in and take over -that's real capitalism. Also depicting people who cant get jobs as crack dealers just about sums up the level of this video and those who made it.

[@crossbearer6453]

It’s one of the examples Why zero in on just that?? That shows your mindset

[@XChristianNoirX]

What is... CRONY CAPITALISM

[@oskartheme5233]

Crony STATISM.

[@jennithywong2704]

Communists: real communism has never been tried Capitalists: real free market has never been tried

[@XChristianNoirX]

Both are corruptible because government uses force/control. However, the smaller you make the government, the less force it can exert. The larger the government, the more force it has and the more government there is to corrupt. A "communist" or "socialist" system can more easily work in families, small communities, and small countries, because people know eachother more, can more easily decide together, and there is less power distance. However, the larger the size of the group, the less and less consideration there is for the individual, the less a one-size-fits all system works for everyone, and the more resistance can happen, because there is greater power distance, less people know eachother, and as a result, the more the ends justify the means. Free market capitalism is simply the idea of consentual exchange of labor/goods/property. Communism and socialism are not. Democratic socialism can lead to tyranny by the majority, where 51% dominate the other 49%. The main danger in any system is when you can't take/sell your things and leave when you want. This is most associated with communism, but socialism doesn't tend to want to give up control that easily either. Of course there are several degrees of pressure each system exerts. Capitalism isn't free from corruption, when outside money gets involved in government... The more government there is, the more chance there is for this to happen. Then, you have crony capitalism, where the laws are written to keep those in power.. In power. Often, this is done in the guise of "helping the people." However, the more socialist and communist a large system gets, the more crony it is by nature, because even if you eliminate money, there is still power. People like to blame money for all social ills, as if if money is the problem... But money is just an economic tool. It can be used as a weapon, but even if you eliminate it, there are still other means of force/power. Real world, every day examples of crony capitalism... These types of rules and regulations are often written by and/or promoted by the big companies themselves, in the guise of helping people, but are generally implemented to help the big companies: One can no longer buy a good coil cleaner ($15) for their air conditioner, because they don't have a liscence, so they have to pay someone who is liscenced $400 to clean their AC coils, which takes 30 minutes. This keeps the AC companies and liscencers in business, as well as the AC companies (more AC units break down earlier because people end up not maintaining their units because $400 is too much, so they might end up using inferior products). Another example: New regulations for gas stations get passed, requiring gas stations to install new, expensive gas pumps and fuel delivery systems. The privately owned gas stations can't afford it, but the large companies can because they ha economies of scale. All of a sudden, the small companies go out of business or sell out to the large companies. Young Johnny no longer inherits his family gas station, but he has some money that pays for college. College teaches him social sciences and how to protest. When he graduates, he has no job and no gas station. He might even have more debt. All of a sudden, a politician is his only answer.

[@XChristianNoirX]

When it comes down to it, the larger a government becomes, and the more power a government has, the more susceptible to becoming authoritarian it becomes.

[@adeadchannel4129]

Corporatism*

[@jtaylor3609]

I actually worked for amazon. You got paid min wage. But the higher the production rate the more. Thats including overtime. Its a must.

[@juneyshu6197]

It back breaking and foot wrecking and mind twisting place.

[@BoxerDogs]

If the salaries and wages are too low, that means the supply of labor is too high.

[@scottmcdonald9685]

Yep. And overpopulation is the source of most of our social and economic problems, worldwide.

[@rs72098]

To an extent, you're correct. Keep in mind that goes both ways. The great demographic shift is happening as millions of aging baby boomers leave the job market. There will be a huge labor shortage that will force extremely high wages, the government will be helpless to help these companies. Energy prices will also rise, slowing down automation for decades.

[@TheBoxingNinja]

@@scottmcdonald9685 no it's not. There's plenty of jobs, my brother has 10 of them. Plus all the job that will be taken over by machine. Machines are getting good at doing everything, what happens when they replace the need for workers all together? But then again for thousands of years people said the same thing we are saying "over population" and "Machines are killing jobs". But they it all works out (without the government).

[@matthewmann8951]

Wow again thank you sir. I have just had my eyes opened to say the least. Great job.

[@AflacMan13]

Big businesses are not to blame... the greedy GOVERNMENT is.

[@MisterMikeTexas]

They're equally to blame! These businesses know exactly what they're doing when they climb into bed with govt.

[@akidmyself4053]

Wait, what happened to food stamps being a good thing because they meant no one could go hungry? Remember kids, they always want more.

[@Vamavid]

I am a liberal and Stossel is one guy I wish would be wrong sometimes. Maybe in the next video.

[@akessel92train]

Vamavid but unfortunately for you, he is right

[@Olematonnimi]

How is he not wrong? Amazon is not culpable of not paying their workers enough to pay for rent, utilities and food expenses thus making government pay for what Amazon should pay for. The money comes from tax paying citizens. Amazon is jewing your money to propel themselves upwards when the money should go to for example fixing roads.

[@Olematonnimi]

Roshea Yeah well I just said 1 example. There are thousands of examples you could choose from.

[@supremoluminary]

If you worked one of these jobs for a year, your perspective might change.

[@Inspector-Chisholm]

100 years ago the common people worked their guts out for starvation wages. When their bodies broke down they starved and died. When they were finally got the pay and living standards they demanded, the economy of the West expanded because of their spending. Where would Microsoft, Apple, Amazon or Facebook be without that? It's a middle way that has provided entrepreneurs and workers a chance to do what they want and get paid a living wage that has made western society prosperous.

[@kennethjames4724]

The economy expanded when taxes were lowered. Businesses had more to give their employees. It always happens that way.

[@steelydan449]

I loved the drug exchange clip I’m so amazed people listen to Bernie Sanders. The guy had done NOTHING in his life, including combing his hair.

[@kimwiser445]

I’m so tired of media not knowing what they are talking about.

[@adventurerpan8527]

and sadly then we saw and increase to $11 in 2019, that made it worse, and is going up to $12 dollars in 2020 which probably make things even worse.

[@kylenetherwood8734]

Something I've noticed is that regulation always hurts the poor and small businesses more than the rich and big businesses.

[@MrAqua-ei3mb]

Hasn't the minimum wage increase overall been a good thing? People are getting more money so they're spending more on products and services. Which means a lot of that money goes back to the companies.

[@juneyshu6197]

Maybe some of the 30-year-olds can afford to move out now?

[@MisterKewlz]

I'm not sure I agree with this, Stossel. Why are you glorifying a girl who started working a low paying job at the age of 13? And you do realize that the high paying job is a scarce one, in an average restaurant there is only one manager per shift and say 5-15 other workers making less than them. How long does somebody have to pay their dues until they can make a wage that allows them to pay rent with a third of their income?

[@boredfangerrude]

Dude, there's nothing wrong with her working at thirteen. Better to get job experience at thirteen than twenty or thirty!

[@madday9589]

asdf ghjk She probably didn't work much when she was 13 but just got a little bit of experience most kids get jobs in high school usually at around 16 years old

[@boredfangerrude]

The thing is, sixteen is way too old. It needs to be at least fourteen.

[@sageyFbaby]

Thank youZ

[@boredfangerrude]

You insult everyone who has ever been enslaved and is enslaved with that comment. Slavery and work is a far cry from each other.

[@rm2kmidi]

We need to abolish minimum wage

[@chieftp]

agreed. we need to abolish any requirement that the owners have to pay their workers.

[@jaredlangley6924]

chieftp people aren’t going to work for nothing. It just doesn’t set a minimum threshold. You’d probably get better wages.

[@chieftp]

big, black strong ones. and don't let them get uppity.

[@seanmichaels8060]

Let's just abolish the entire Fair Labor Standards Act while we're at it. It's not as if it ended the Great Depression or anything. Leave a stupid comment. Expect a smart person like me to be sarcastic at you. Dumb fuck.

[@KidCity1985]

The higher minimum wage killed my business. I had 9 employees for 33 years. It was killing me.

[@AtlasCave]

Higher minimum wage --> Higher priced goods. What the hell is wrong with politicians???

[@andrew120698]

Americans seem to not understand inflation... This happens in my country all the time and it results in more taxes and higher product costs, it is a simple economic concept yet it is never brought up by them in any arguments...

[@SkinnyCow.]

Or the richest man in the world could forgo 0.0001% of his wealth and distribute that to thousands of employees. Capitalism uncontrolled is like the game of Monopoly, it centralizes into fewer and fewer hands. 50 richest people have more wealth than the remaining half the people, 3.5 billion on the planet.

[@nanowasabi4421]

SkinnyCow Bezos' net worth includes the value of Amazon, so it can't be said that he could just hand out a billion dollars without downsizing, costing jobs. This is not something his board would allow him to do without a fight, because their wealth also depends on the success of Amazon. He does make a lot of money per year though, so we can dissect that. According to salary.com, Bezos pulls in 1.7 million dollars per year. According to the Seattle Times, Amazon had 563,100 employees last March. If Bezos distributed all of his earnings among all of his employees, that makes 3 bucks extra in everyone's Christmas bonuses. I'm sure he'd feel like a saint.

[@MrManBuzz]

@ALJustice0 If you'd don't see what's wrong with 50 people having the combined wealth of over 3.5 billion people you really should question why you think that.

[@icyth]

​@FASHMASTER Not true. Africa is going to boom one day no matter what, and the sooner it booms the better, the longer you delay africa's "boom" the bigger their population will become. Take China for instance, they skipped capitalism, and that's why their population exploded, the longer a country is stricken with poverty, the bigger their population boom will become once they become remotely prosperous. So flooding africa with opportunity early on is probably the best way to minimize their inevitable population boom.

[@kennethjames4724]

Bernie Sanders could have sold a couple of his houses and given it to the poor. But he didn't.

[@matrixman8582]

The wealth is all in stock values

[@chiefkyle1098]

They raised the minimum wage. In response, McDonald's, Kroger, Walmart, and dozens of other businesses replaced workers with kiosks. Now they don't have to pay for overhead, and kids that would have got their foot on the Working Class ladder, can't find a job.

[@jaredvernon5983]

When we raise minimum wage all we really accomplished is making anybody that makes over minimum wage more poor

[@spanaker]

capitalism is dying. we live in a kleptocracy/state capitalist society that is not going last long

[@patveldon6843]

How many tax breaks, bailouts and subsidies do these companies get?

[@yourfriendjohnny8889]

IM UPSET 50K on my head it's disrespect

[@psychoh13]

"That's exactly the argument that people back in the day made agains the minimum wage" Oh yeah? You mean back in the day where the goal of the minimum wage was to get black people out of the work force?

[@psychoh13]

@@Mhinqa LOL He does look like Jared Taylor, but no Ellis Henican from Newsday is not Jared Taylor from American Renaissance.

[@davefromthe502]

that should be state issue not a federal

[@hbarudi]

We need laws that prevent companies from continuing to get government money and worsening the national debt. When it comes to minimum wage, $10/hour is more reasonable than $15/hour which could cause the loss of jobs.

[@rogers4760]

It's easy to find jobs like that, i have a job at Publix where starting is 12 $ an hour. It's for Walmart and Target too. I don't understand how these people think, work experience is as important as a college degree so work if you want more.

[@9307jack]

Is this video satire? It's not amazon's fault that their policy is to pay their workers lower than subsistence wages?... A rise in the minimum wage a firm offers removes the opportunity to rise through the ranks at the firm?!... It must be satire. On the 'amazon will have to cut staff if they raise wage levels' you are grossly oversimplying the decision problem. A more honest statement would be - 'raising the minimum wage at amazon means they will have to cut costs to maintain the same levels of profit'. That statement acknowledges the whole truth which is one method would be to cut staff numbers (and thus production), another would be to reduce costs by reducing management wages higher up the firm giving a flatter (but not so flat as to neutralise incentives to progress) wage structure which in fact comes with many more additional indirect benefits over and above taking the burden of paying their employees subsistence wages off the state which, btw, is not very capitalist...

[@PrimaLuxRadio]

you understand satire well now move on to irony to understand your self

[@9307jack]

Is the irony that I'm benefitting from capitalism at the same time as criticising it? Drinking Starbucks while bemoaning unfair deals for coffee producers? Bullshit. I am not a communist and anyone who thinks that there is only a choice between pure capitalism and communism is a fool. Capitalism can (and must) be tweaked by regulation and still be capitalism, or do you want to have 5 year olds sweeping chimneys again?

[@nanowasabi4421]

First, lowering wages for managers would make many of your high skilled managers look for managing positions elsewhere. They're already being paid only as much as is necessary to keep them working for Amazon, because what reason could there possibly be to pay them more? Second, there are so many more low skilled workers than managers that each individual worker would get close to nothing at all if their manager's pay got cut. I couldn't find any data saying how many subordinates an Amazon manager usually has, but let's say a manager who makes 80k per year oversees 20 employees. Cutting their salary in half gives each employee 2k per year, or about 89 cents per hour if they're working full time. Keep in mind that, at this point, the manager would only be making about 33% more than their unskilled subordinates (40k to 28k), and the call for a $15 federal minimum wage would be a change of $3.50 (compared to 89 cents) in Washington, which has the highest state minimum wage in the country.

[@nanowasabi4421]

Clarification: I calculated low skill yearly earnings based on the minimum wage in suburban Washington, where I live, not the federal minimum.

[@Vixctor13]

I did the math and noticed that 15$/hour is close to what I make here in Finland. I've had the same job for 5 years and during that time I've paid of a car loan and a student loan. I live alone in a 2 room apartment with a monthly rent of 613$. I think I'm doing just fine financially.

[@benh2156]

Since the internet eventually uses my ideas, here's another one for the algorithm. Companies should pay their employees a wage BASED ON THE CONDITIONS IN THE AREA. Some areas are rural and less expensive, some areas are suburban and expensive. Run with it internet, use it.

[@traddad9172]

I like Mr Stossel and his work- I hear Amazon currently has multiple cases going in tax fraud- just like most large corporations

[@befelmi999]

i disagree: bezos and other lobbyist just see government (ie politicians) as a commodity that can be bought. which honestly speaking is quite accurate. the problem is that government as a regulation body simply has too much power

[@lelandgrover8514]

You can always count on Stossel to deliver his trite & asinine pity the multi billionaires segments & it should be telling to you John that Tucker Carlson of Fox who's hardly a left winger agree's that a man who's worth 137.6 billion dollars can afford to pay his employees enough to survive & not be on public assistance.

[@AimeeB-pr5wj]

leland grover you sound jealous, government interference only ruins economies.

[@ramship59]

This is predatory capitalism...

[@Jon0e0boy1010]

99legion quit your bitching

[@Progovchannel]

"Jeff Who? " Elon Musk, 2017

[@eduardonava6284]

This is some good propaganda. Elitist mouthpiece

[@voids.5917]

Ah there it is

[@a-10warthog51]

"I don't like what he said it must be propaganda!"

[@sojasous5018]

I knew someone like you had to be here! CNN or MSNBC?

[@sheepleslayer586]

Love how he tells it how it is.

[@Bigjplaysyoshi]

I work at a Fulfillment Center at Amazon, and all the employees who have been there longer than a year were upset about the "wage increase" because they all lost their bonuses. People just stay there for years and years and never try to make themselves more valuable. I have personally seen employees turn down promotions because they didn't want to change anything. They just complain to the government and the company that they're not paid enough. Amazon has even offered their employees free community college practically. People are just lazy and are not willing to blame themselves for being the actual problem.

[@nawfalal-asadi5140]

greed is the true problem, not capitalism. in my opinion america has on of the best systems for middle class families and low income, at least compared to us here in middle east where its just slavery under different names. great video and very informative, keep it up. thanks!

[@nawfalal-asadi5140]

people should be educated, that's the least they can do. thanks for your reply.