Wednesday, November 06, 2013

Regulation

Microsoft makes $2 billion annually from Android patent royalties. This is a $2 billion transfer of wealth from consumers to Microsoft's owners for nothing. This is how billionaires get made.

Claim that voters raised minimum wage in Sea-Tac to $15.
"And voters in some municipalities aren’t waiting for state lawmakers to play catchup. In the Seattle suburb of SeaTac, voters on Tuesday approved a measure to increase the minimum wage to $15 per hour. That's currently the highest minimum wage in the nation and it will affect workers at SeaTac International Airport, which serves Seattle and Tacoma. "
Claim all the votes haven't been counted yet.
"Washington state already has a higher minimum wage than any other U.S. state, at $9.19 an hour, and the SeaTac wage would be among the nation's highest, just below a $15.38 rate mandated for city workers and contractors in Sonoma, California."
It's such a small number of workers in SeaTac, and it's a relatively inelastic market, so these companies may be able to just raise prices to cover the additional costs. This should be used for a model for the country, that's for sure. But I wonder how Sonoma is doing. I can't find a single article on the consequences in Sonoma.

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