$15 minimum wage could cost Ont. 90,000 jobs, TD Bank says

Yeah, no idea what this is talking about.

If you work a minimum wage job, it's because you have minimum wage skills.

Don't like it? Get some skills. Then, get another job.

Want the government to raise your minimum wage job payment? Bad news for you - The price of services, food, rent, and everything you buy increases.

But why, you ask? Because not only your own money increases, silly billy. Businesses are paying their employees more, renters can charge more money, those costs have to be recouped somehow.

How will they be recouped, you ask?

DING DING DING - You're right! You, the minimum wage worker, now pay $2.63 for that $2 loaf of bread that you were buying before, bringing your gross profit to absolutely...

$0 more than you were making before!

However, if you're making money, you're probably one of the lucky ones - Since most menial minimum wage jobs were eliminated because businesses can no longer afford them. You see, when businesses make a certain profit margin, they are not making more money, but have to magically provide their employees with more money.

Now, do you think the business goes bankrupt or cuts into their own pockets to pay their employees, or, the far more likely cause....

.. you're right! Employees are laid off, fired, and hours are cut back. Why? Because they can't afford to pay you $15/hour, or won't.

That's how it works. I know it's fun to blame Walmart for not paying their oh-so-useful Walmart greeters $15 an hour, but a Walmart Greeter could be replaced with an inflatable balloon with a cassette tape inside it - That is why it is a minimum wage job.

/r/toronto Thread Parent Link - cp24.com