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To: robert b furman who wrote (2228)1/22/2021 11:38:09 AM
From: Thehammer  Read Replies (1) | Respond to of 2591
 
Hi Bob,

I think that a minimum wage is best managed at a local or state level. They should understand the economics better.

It isn't just teens but marginal employees as well those underkilled or underdeveloped. Employers are hesitant to take a chance. It also hits the small companies (were most jobs are actually created) hardest. Big firms can automate or off shore ( I have done both before I retired). It creates albeit probably temporary workforce issues when the wage scales pan across the minimum as a disproportionate percentage of budgeted wage increases are awarded to lesser skilled or less productive employees.

The best solution is full employment as seen pre Covid.

The NYT apparently had an article (I only heard of it have not read it) in that Biden's economic advisors are targeting an economy that rivals pre-Covid. Great goal and the prior administration had a blue print that achieved it.



To: robert b furman who wrote (2228)1/23/2021 11:41:42 AM
From: THornsby  Read Replies (1) | Respond to of 2591
 
While I agree that raising the minimum wage across the board to $15 is a bit much, I'd offer that the minimum wage kept up with inflation until 1968 and since then it has not. Had it done so, it would have been over $20 today.

Working full time at the $7.25 federal minimum would gross about $15k per year. That's less than the federal poverty level, hardly enough to live on anywhere.

I'd have no problem with a tiered system with the base level for teenagers.

Cheers.