To: mnehrling
arrruuuggghhh..... The ignorance of basic economics out there just makes me scream.. If you raise the minimum wage to 10.00 per hour, that is still minimum; prices and wages will be base-lined against that. (ie, after the initial short term impact, there will be a net ZERO gain in spending power..)
Actually there would be a negative impact on spending power. Consider, a person currently makes three times the minimum wage of 5.15. If we raised that to 10, that same employee now makes less than .5 times the minimum wage. That is a huge blow to those who have spent the time and energy to better themselves.
26 posted on
10/25/2005 2:44:08 PM PDT by
Kidan
(Tolerance is the virtue of a man without convictions - G.K. Chesterton)
To: Kidan
Very good point, while, from a pure economics standpoint, one would assume that other wages would be leveled against the new baseline, how many employers would actually work in xx% increase to their employees to level their salary against the new minimum base..
35 posted on
10/25/2005 2:49:08 PM PDT by
mnehring
(Cindy Sheehan- The Katy Couric of Al Jazzerra.)
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