Quote:
Originally Posted by lilyflower3191981
If history is any guide, inflating the wage rate is a move that will serve only to weaken small businesses and cause entry-level workers to lose their jobs.
You have to understand that we are not talking about SKILLED workers or employees, these workers won't settle for minimum wage anyway. Their wage is driven by free market. we are also not talking about walmart.
The low skilled worker, (supermarket cashier for example) is highly replaceable. Businesses will cut their hours and force them to lose their jobs.
The Legislature must not add to the problems with a reckless, autopilot wage hike or else many entry-level employees throughout the nation are going to experience those unintended consequences first hand — by losing their jobs.
How about giving low skilled workers such as the supermarket cashier profit sharing of the company? Lol
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I'm more looking at the macro rather than the micro economic position.
We've had interest rate falling over time from the 1980's on.
We've had the total debt in America going up over the same time frame. We are at over 350% of GDP of total debt. We have been trading a reduction if future consumption for an increase in present consumption for more than 30 years.
We are in for a lot of pain. A lot of it. Yes the bottom will hurt by a large enough increase in the minimum wage to do something about the debt we face. But they will also hurt by not doing anything about it too.
The size of increase that I've been looking at is enough to cut the value of our debts in America in half. That is measured in % GDP.
Most people wont have a tooth pulled without painkillers But I've learned the hard way why you don't let rotten teeth just sit. I got valve damage in my hart from rotten teeth. So I'd have a tooth pulled without painkillers. But I'll take the painkillers thank you very much.
We've got rotten teeth in the economy. Do we pull them or do we let them damage us farther.
Rotten teeth:
Total debt at 350% of GDP.
Our trading partners will work at a loss to buy our debt (money for international trade). And some of them are willing to work at $1 a day.
These problems need to be addressed.
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