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It would sure get workers to get out and start spending again on new cars, appliances, vacations, and college education for the kids. Do you think big corporate employers will be excited about this new idea? Just think what will happen when the all of the corporate conglomerate low level employee's can actually buy in abundance what they sell! Do you think corporate shareholders will like this idea?
I like a lot of Sen. Warren's politics, but suddenly raising the minimum wage by roughly 2.5x would be a disaster. I am in favor of raising it to around $10.00-11.00, though.
In the hearing with other legislators it was discussed that when adjusted for inflation and in regard to productivity the minimum wage for an American worker should actually be 33$ dollars an hour!
Minimum wage workers tend to be young, with half under the age of 25, and working in the service industry, so when the minimum wage goes up, employment among minimum wage workers goes down. Let's face it, teenagers bussing tables are not worth $22 an hour. Warren knows this, but she also knows this will get her a lot of press, and that's her real objective.
Minimum wage workers tend to be young, with half under the age of 25, and working in the service industry, so when the minimum wage goes up, employment among minimum wage workers goes down. Let's face it, teenagers bussing tables are not worth $22 an hour. Warren knows this, but she also knows this will get her a lot of press, and that's her real objective.
And if anything of this sort ever came out, Mcdonalds and the like would become mechanized to the point where 2 competent workers could handle an entire restaurant.
And if anything of this sort ever came out, Mcdonalds and the like would become mechanized to the point where 2 competent workers could handle an entire restaurant.
LOL! If that happened the 'REAL' unemployment rate would jump sky high!
And if anything of this sort ever came out, Mcdonalds and the like would become mechanized to the point where 2 competent workers could handle an entire restaurant.
Agreed - either that, or the dollar-menu becomes the $5-menu.
Minimum wage acts as the price of unskilled labor for commodity-like goods & services. Thus, if raised, such goods/services must raise in price to compensate.
Don't get me wrong - I'm a huge fan of (Henry) Fordism, but it just wouldn't work.
Agreed - either that, or the dollar-menu becomes the $5-menu.
Minimum wage acts as the price of unskilled labor for commodity-like goods & services. Thus, if raised, such goods/services must raise in price to compensate.
Don't get me wrong - I'm a huge fan of (Henry) Fordism, but it just wouldn't work.
Why is that when ceo's get a x300 raise, the prices stay the same, but give minimum wage workers 2-3x raise, oh, everything has to go sky high to compensate.
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