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Actually several states have higher then federal minimum wages. Oregon and Washington both do. It really hasnt made businesses run to or from them.
It will take some time before the private sector can re act. Like I say we will have stats in a couple of years where we can measure the states that raised the min wage and those that did n't.
Those who are already making $15 will demand higher wages. Wage demands will increase across the board. Prices will increase to compensate: goods, services and rents will all increase by the same percentage as the minimum wage. Any goods exported to other states or abroad will see a decrease in sales.
Who wins here? The government, which will take in more taxes on incomes and local sales.
It will take some time before the private sector can re act. Like I say we will have stats in a couple of years where we can measure the states that raised the min wage and those that did n't.
"Even the liberal magazine Slate has acknowledged the drastic hike will have negative ramifications. “Any plan that makes hiring a worker more expensive than in France should be cause for concern,” wrote contributor Jordan Weissman.
As we’ve seen in the past when the government makes things too expensive for business, companies will relocate to the suburbs or flee the state. Services Group of America moved from Seattle to Scottsdale, Ariz., in 2006 due to high taxes. Services Group of America is ranked by Forbes Magazine as one of the largest privately-held corporations in the nation, with approximately $3 billion in annual revenues. After its CEO unexpectedly died in a helicopter accident in 2010, it was widely thought that the company would not have survived had it still been located in Seattle."
The Center for Union Facts analyzed collective-bargaining agreements obtained from the Department of Labor's Office of Labor-Management Standards. The data indicate that a number of unions in the service, retail and hospitality industries peg their base-line wages to the minimum wage.
The Labor Department's collective-bargaining agreements file has a limited number of contracts available, so we were unable to determine how widespread the practice is. But the United Food and Commercial Workers International Union says that pegging its wages to the federal minimum is commonplace. On its website, the UFCW notes that "oftentimes, union contracts are triggered to implement wage hikes in the case of minimum wage increases." Such increases, the UFCW says, are "one of the many advantages of being a union member."
I cheat because I read - the details are always in the fine print.
I'm not saying that "ALL" Union jobs are based on a Minimum Wage, but many are. I follow Boeing, because I own stock in Boeing - it's surely a Seattle/Washington State issue, but it is going to effect the shareholders that own stocks in companies based in that area ..... including all the employees that own stocks through their 401K's. Doubtful that many of them even know what they own in their 401Ks or even think about the future. Their problem, not mine.
I already have an appointment with my Financial Advisors to discuss dumping Boeing and anything in Washington State. I've dealt with the threat of Union strikes for years - It meant a possible job disruption in the past, now it's a matter of survival in retirement. I don't care what Seattle decides to do or what the State of Washington decides to do .... but, it's a fact that I don't have to be a part of it.
I've systematically gotten rid of as many companies as possible that are "Union" dominated.
Once these new "minimum wage" raises start to occur, you will start seeing huge strikes again to raise their rates because of the Minimum raise hikes.
I want to be out of that by the time it happens - to each his (or her) own.
It will take some time before the private sector can re act. Like I say we will have stats in a couple of years where we can measure the states that raised the min wage and those that did n't.
SeaTac already has had some fallout. That's a big raise to go right to $15 like they did.
Why do you keep repeating the line that union wages are linked to minimum wage?
Prove it. not some opinion piece, but something really based on facts.
Heres a clue-very few union wages are linked to minimum wage.
Really no way to prove it, except that the unions will now come back and want higher wages for their members. That pretty much I will gurantee will happen.
Maybe some,others will be let go and some jobs will never be created as a result, but screw them right?
Dont they teach supply and demand in economics 101 anymore?
So basically the same things that happen when minimum wage doesn't move will happen when minimum wage goes up.
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