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Politics : Formerly About Advanced Micro Devices
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one_less
TideGlider
To: SilentZ who wrote (735922)8/30/2013 2:34:44 PM
From: Tenchusatsu2 Recommendations  Read Replies (3) of 1577029
 
Z,
How do you feel about the minimum wage?
Good for setting a floor on wages. Stupid to assume it was ever meant to provide a "living wage."

Raising the minimum wage is all about trying to raise wages for everyone who earns by the hour. Currently the federal minimum wage is $7.25 (or around there). Raising it to $10 means everyone who currently makes $10 now needs to get a raise. So now you have to pay them maybe $13. But then those currently making $13 needs a raise as well. So now you have to hike up their pay. (There's a limit to this "trickle-up" effect, of course.)

Sounds like a noble goal, if it didn't directly lead to unemployment. This is because costs for labor go up, and small businesses that could not afford it will have to go out of business. Large corporations can afford it, but they're still affected and will consider the higher costs in closing stores or building new ones.

Tenchusatsu
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