danielpalos
Diamond Member
- Banned
- #1,041
why do you care? Capitalism has a natural rate of unemployment. Not enough corporate raiding in it for you.I've already pointed out that it would impact well over half the work force. Do you REALLY think that many people can ALL get large raises at the same time with no impact to the job market?The problem is we have not raised minimum wage in eight years and once it is raised, it will probably not be raised for another eightThe question has a very important purpose, and that is to illustrate the reality that raising the MW DOES have an impact on jobs. The degree of that impact varies with the size of the increase.You can stay in business if you pay more, but you will likely have fewer employees enjoying the increased pay, and if you pay more than you can charge for your goods or services, you will go out of business.True today as much as 1934
If you can only stay in business by paying $7.25 an hour, you don't belong in business
Here's a good question: Why not just raise the MW to $100/hr and eliminate poverty altogether? Think it through.
Stupid question
Well......ummmm....If you want to raise minimum wage over $7.25....why not raise it to $100?
Because $7.26 is the same as $100
Obviously, you cannot raise the MW overnight to $100/hr and expect to eliminate poverty because no companies would be paying anyone that much. Thus, you cannot simply and arbitrarily raise the MW significantly and quickly with no negative ramifications. Go from $7.25 to $8.50 and you probably wouldn't see much right away. Go from $7.25 to $15, however, and you will have a much greater negative impact.
Raising the MW by a large amount and quickly as a tool to combat poverty is a losing proposition because companies do not operate in a fantasy vacuum, they operate in the real world where you can't pay workers more than their labor is worth and stay in business.
So, $15 seems fair