First, minimum wage jobs are not career jobs. They are not supposed to provide a living wage. To make a living wage find a career. You have no right to expect to make a living wage at McDonald's or Burger King.
Second, when minimum wage goes up, several inflationary forces come into effect. Small employers often can't afford to retain the employee and let them go, which also devalues the wage other higher paid employees get because they then have to work harder with no compensation. Prices increase to offset the cost of the higher minimum wage to the employers, which devalues the buying power of the increase, as well as inflating prices for all consumers. It also causes employers to hire MORE employees but reduce the hours of current employees because the laws and company policies are different between "full time" and "part time " employees. Instead of getting 32 hours at minimum wage they get 28 at the new rate.
Are you for or against raising the Minimum Wage?
Drue-AFCL
2012/06/09 03:26:59
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17 votes
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29% | |||
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41 votes
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71% | |||
and given the job market, where there are more unemployed people than tha jobs right now particularly for those without a degree but since so many of us are using this time to get our degree I'm sure it will end up with PHDs flipping burgers menwile they tell us we need to compete with sweat shops
brilliant
If $10 is good, wouldn't $50 be better? What do you think would happen to the economy if we raised the minimum wage to $50 and hour?
It is called an inflationary spiral due to government interference.
The vast majority of minimum-wage earners are not the main breadwinners in their family. Mostly they are part-time working students, working in jobs that are supposed to be temporary -- not careers.