$15.00 minimum wage

hoser

While we are talking about economic stimulus I thought I’d bring up the $15 minimum wage. Pros and cons?

road to nowhere

Pro: only an adjustment of the original starting wage ( meant for parttime children dren according to one source

Con: basic costs follow the supply of money. Too many people stay in starting positions and never learn a skill.

Other wages would have to rise to attract schooled people. A corollary of this is the tuition increase ehen the government attempted to increase college attendance

stan livedeath

in the UK the minimum for 2021 is £8.91 an hour.

so--a couple both working full time would earn over £600 a week, which is a lot better than unemployment benefit.

FedUpJW

I am not in favor of it. Minimum wage should be at least $150.00 per hour. After all THAT would be ten times better, wouldn't it?

Liberal "logic" 101.

MeanMrMustard

If we had a minimum wage of $150/hr, then we would all be a wealthy as lawyers, right?

FedUpJW

If we had a minimum wage of $150/hr, then we would all be a wealthy as lawyers, right?

LOL, except the lawyers would then be charging hourly fees ten times higher than they are now, so we would have to increase the minimum wage to $1,500.00 per hour to keep up.

Rocketman123

It seems that the set minimum wage hasn't really been kept up to the cost of living index,. so maybe there needs to be an adjustment, at least in North America .

Putting into law a set minimum wage kind of blocks unscrupulous employers to exploit young venerable people to their advantage.

Incognito

Raising the minimum wage is never in isolation.

While it may seem great for those making the minimum to raise their standard of living, employers make-up for increased expenses by increasinging prices and/or reducing the number of employees working each shift so less people are forced to do more work.

Employees that had already advanced to higher paying jobs through experience and additional responsibilities, suddenly find new hires with no experience or knowledge will make the same or sometimes more than they are making, so they too want an increase well above minimum to compensate.

This all happened in my province when the minimum rate was increased substantially.

Now with the cost of everything higher as a result, those receiving the new higher minimum rate, often find they are now no better off and often worse off (fewer paid hours) than before the minimum rate was increased.

MeanMrMustard

Setting minimum wage, maximum wage, interest rates, etc. is an exercise in price fixing.

The better question : What are prices, what is their function, and is it EVER good to engage in fixing the price by law?

hoser

I think if there is a minimum wage it would have to be high enough to encourage participation in the work force. There is no point in paying stimulus or employment insurance that is higher than minimum wage. The economy needs to keep people working to function properly.

$15.00 minimum wage

Share this