- Moderator
- #741
Minimum wage set's the pay for alot more than the people how work for that particular amount of money. It functions as a baseline for a great many jobs that pay an hourly wage. That is why increases in the minimum wage usually generate increased wages for people who already make more than the minimum wage, particularly people who are close to it.
And it's also why businesses have to lay off people.
Again, the last two times the minimum wage was raised, there was no net loss of jobs.
Funny. Last time the minimum wage increased, unempoyment spiked. Oddly enough, it's still up. Coincidence?