When is a proposed minimum wage hike too high?

When is a proposed minimum wage hike too high?
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1 Answer

Answer :

No. It balances out in the end. Costs go up and compensates for the increase.
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When the minimum wage goes up, how does the money cycle change?

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Last Answer : Inflation increases the cost of goods, the value of the money goes down. I remember hearing, back in the 70's, that a dollar was worth 26 cents. Your money buys less and less, and the prices continue to ... on one side. It took a whole grocery bag full of these marks to buy a single loaf of bread.

Should the minimum wage be set at the state or national level?

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Last Answer : I’ll go to Alabama and be unemployed when the minimum wage goes to $15.50. You use to be able to a house for 18 % to 20 % of a house in Connecticut or Massachusetts. There is a great big difference in cost of living and housing cost between states.

Could we have a minimum wage for middle class non-business owners?

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Can states have no minimum wage, or pay less than the federal minimum wage?

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Last Answer : If they (their companies) have no interstate commerce they are probably okay to have different minimum wage laws.

What are the main arguments against minimum wage increases and why are they fallacious?

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Last Answer : If everyone gets a raise then no one does. It is a relative income that matters. Prices for products level off. Another point is how valuable is a humans hour of work is. Better educational ... for 18 years or more. Better health means fewer sick days and more profit from a humans perspective,

Should minimum wage be raised to $10.10 an hour?

Description : Should minimum wage be raised to $10.10 an hour?

Last Answer : answer:Slightly off topic, but I want know how is it determined minimum wage? Is there a specific process?

Is lowering the cost of living a better solution than raising the minimum wage?

Description : Is lowering the cost of living a better solution than raising the minimum wage?

Last Answer : answer:We can if people stop paying the high prices. Some goods have small margins, but some have huge ones. If people had not purchased overpriced housing, the housing bubble would not have happened. ... put things on credit, the economy will continue to be what I consider to be ahead of itself.

Could increasing the minimum wage have unintended, negative consequences for some people?

Description : Could increasing the minimum wage have unintended, negative consequences for some people?

Last Answer : Like most things, there are always unintended circumstances that arise. I can see people losing hours, or future employees coming in as p/t only, and then there is no penalty of overtime pay if they work ... where they can benefit in other ways to make up for the increase in wages they have to pay.

I have been told time, and time again when the demand for minimum wage workers increase….(see details)

Description : I have been told time, and time again when the demand for minimum wage workers increase….(see details)

Last Answer : In America, it’s fairly difficult to bring in foreign workers legally to fill non-skilled positions. Hiring illegal immigrants is another issue.

So how about a minimum wage indexed for age?

Description : So how about a minimum wage indexed for age?

Last Answer : Old people would never get hired. This already happens but it would be worse.

If we can have a minimum wage then, for balance, can we also have a maximum wage?

Description : If we can have a minimum wage then, for balance, can we also have a maximum wage?

Last Answer : answer:Theoretically, yes. However, that would require legislation, which involves lobbyists. Now, who do you think has more political clout; voters or those that can hire dozens of lobbyists and finance re-election campaigns? So “can” and “can” are two different things :/

Should minimum wage be tied to the rate of inflation?

Description : Should minimum wage be tied to the rate of inflation?

Last Answer : answer:My instinct tells me yes, but I am, in no way, an economist — so I can’t say for sure. Interested to see what smarter folks than I have to offer.

Who is the Government really subsidizing when it comes to minimum wage?

Description : Who is the Government really subsidizing when it comes to minimum wage?

Last Answer : I’d say a mix of both. It benefits both sides.

Is it feasible for small business owners to receive a minimum wage for paying a higher wage to their employees?

Description : Is it feasible for small business owners to receive a minimum wage for paying a higher wage to their employees?

Last Answer : When times are bad in a business, some times the owners will take out no pay for a while.