This bill, if passed, would raise the minimum wage (which is a price control on labor) from its current federal level of $5.15 to $7.25, a whopping 41% increase.
Voters like the touchy feelie stuff. But here in NV, they were too stupid to read the fine print in this last election when they voted a minimum wage hike initiative (written by union lawyers) into the state constitution.
On the surface, it looked like just bumping it up a dollar an hour from the current $5.15 per hour, but the fine print kicker was to permanently peg it at a buck an hour higher than the the federal rate, with yearly COLA additions as well. It's going to almost double the minimum wage, at least in this state, when the feds pass the national increase.
Most fast food employees, etc., already make more than the minimum. It's primarily tipped workers, some of whom rake in 6 figure amounts in Las Vegas, who will be getting this windfall. It's small businesses, such as corner cafes, that are really going to get screwed. The big casinos will just dial in their slots a % or two colder to cover it... |
