I dont know if some of you have never taken advanced economics, but these minimum wage increases arent going to solve anything. Its going to put many small businesses out of business. The larger companies are simply going to raise the price on their goods, because the CEOs are not going to take a pay cut to cover the increase in payroll cost. As the cost of goods increases, the cost of living as a whole increases. So all we are doing by increasing the minimum wage is increasing the cost of living. What we should be doing is taking some notes from the EU and putting a cap on the ratio of CEO to worker income or something similar. We are already in the top 12 countries on highest minimum wage, but we have the worst CEO to worker income ratio. That is the real problem, not the minimum wage. Just my 2 cents.
Posted on: Sat, 03 May 2014 00:43:53 +0000
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