Hmm. $30 an hour is the real minimum wage
The greed is not workers
https://www.msn.com/en-us/travel/news/la-passes-30-tourism-wage-hotels-say-they-ll-convert-to-homeless-shelters/ar-AA1vLsDn?ocid=msedgntp&pc=ACTS&cvid=717549dffada4e1dbf527f61424a40a5&ei=93
(The Center Square) - Los Angeles City council voted to pass a $30 minimum wage for hotel and airport workers, along with an additional healthcare benefit starting at $8.35 per hour for employees of businesses that do not provide health insurance.
Businesses say the large spike in wages will lead to closures, scaling back employees, and hotels backing out of agreements put in place for the 2028 Olympics — and could threaten the city budget.
Overall Das Kapital has head winds of it’s own making arising from the decision to go for as much as greed permits as fast as one can and as indifferent to real world inputs as possible. Labor vs. Le Machine. Hotel customers have expectations. Das Kapital does also. At a certain point Das Kapital cannot exploit further without Labor unrest. Can labor be automated at an affordable cost? Ipads to check in. A few humans on staff 10-12 hours a week to be a comforting presence for minimum wage? Subcontract Housekeeping, Parking. Robot valet for luggage.
The future is few humans going places simply because not enough servility. Das Kapital wins and loses.
Thirty dollars an hour sounds crazy high to me.
The only businesses with plenty staff are the op shops staffed by volunteers.
During the Biden regime, thanks to an emormous and growing US budget deficit, corporate profits have soared and real wages have lagged. This is where the drive for a higher minimum wage comes from. Capital's share of national income has gone exponential.
The value of the dollar against real goods and services (otherwise known as inflation) has fallen precipitously.
Many small businesses cannot afford higher wages or the capital cost of machines to replace people.
Large companies can afford to pay more but can afford to replace their people with machines.
The answer? No deficits. A stable currency. No inflation. A tax on labor-replacing machines as if they were people.