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It's called history. It has happened over and over again, every time the minimum age has gone up. Will the raises be an exact match? No, but they will be pretty close. Close enough, in fact, that the buying power of minimum wage earners will remain essentially the same as it is now.
Answer this question: When is the last time that raising the minimum wage had the long term effect of lifting minimum wage earners out of poverty? All the way back to 1938, when has it happened?
Is the goal of raising min wage to move all those folks out of poverty?
To clarify, I was talking about Washington D.C.'s attempts to raise the minimum wage. Seattle, quite frankly, can go pound sand. I've been there numerous times, and I still don't understand why people voluntarily move there. However, the same thing is going to happen in Seattle - on a smaller scale - as what has happened on a national level every time the minimum wage has been raised. They are devaluing the dollar on a local level, rather than a national level, but they are still effectively devaluing it.
Is the goal of raising min wage to move all those folks out of poverty?
If it isn't, what's the point? The proponents of raising the minimum wage keep calling for a "livable wage" - whatever that is. Since nobody has actually defined it yet, one can only come to the logical conclusion that they wish to lift the working poor into an economic class that doesn't include the word "poor". In other words, to lift them out of poverty.
If it isn't, what's the point? The proponents of raising the minimum wage keep calling for a "livable wage" - whatever that is. Since nobody has actually defined it yet, one can only come to the logical conclusion that they wish to lift the working poor into an economic class that doesn't include the word "poor". In other words, to lift them out of poverty.
Is the point to keep up with rising cost of living?
Only if part of the indexing requires that minimum wage not change for a set period of time - preferably half a decade or so. Otherwise, the market will never have time to correct itself.
Only if part of the indexing requires that minimum wage not change for a set period of time - preferably half a decade or so. Otherwise, the market will never have time to correct itself.
So if it takes 5 years in between adjustments you certainly are always behind inflation
Why not? You're asking me the point of an action which history shows has no long term beneficial effect.
You posted a question about poverty and min wage as though the point of min wage was to pull people out of poverty. I don't believe that is the purpose if min wage and this why I asked.
Here's a snap shot of min wages purpose
Quote:
The national minimum wage was created by Congress under the Fair Labor Standards Act (FLSA) in 1938. Congress enacted this legislation under its Constitutional grant of authority to regulate interstate commerce. FLSA was a comprehensive federal scheme which provided for minimum wages, overtime pay, record keeping requirements, and child labor regulations. The purpose of the minimum wage was to stabilize the post-depression economy and protect the workers in the labor force. The minimum wage was designed to create a minimum standard of living to protect the health and well-being of employees. Others have argued that the primary purpose was to aid the lowest paid of the nation's working population, those who lacked sufficient bargaining power to secure for themselves a minimum subsistence wage. FLSA specifically provided for a minimum wage for full time and part time, public and private sector workers. Specifically, workers who are “engaged in” or “in the production of goods for” interstate (commerce between the states) and foreign commerce.
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