Okay, first off: Where does the money come from when minimum wage is increased? The money that this image set says is going to be re-inserted into the economy--where was that money before the minimum wage increase? Was it sitting in the mattresses of the business owners? Or was it invested? Or was it being spent by the business and the business owners? Second off: if businesses like Costco, The Gap, and In and Out are already setting their base wage higher than federal minimum wage, why do we need a federal minimum wage hike? If the businesses are already doing it on their own, obviously the labor and employment market is taking care of the problem already. Third: Although many factors influence unemployment, it just makes practical sense that the least skilled workers are going to be less likely to get jobs at all if the minimum wage is raised. If a company has to spend more money on its employees, its going to demand higher quality employees. Finally: Ive been the recipient of five minimum wage increases in Illinois in my lifetime. My standard of living NEVER went up. Because within a month or two of the minimum wage increase gas prices rose, milk prices rose, clothing prices went up, dog food prices went up, just about everything that depended on minimum wage level employment got more expensive. By about the same percentage as my income increased. So, yes, my paycheck was bigger, but my bank account had the same amount of money after I bought the things I needed.
Posted on: Mon, 24 Mar 2014 21:39:05 +0000
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