I left off my own thinking on the topic of the minimum wage with the thought that there might be a domino effect on inflation. Those in other professions might argue, "McDonald's workers are getting $10.10. You've got to pay us more than that." And, at companies with varied payrolls, those already getting $10.10 only to find those below them raised to equal them would press for raises in their pay.
Thus, the argument that the minimum wage only affects the small percentage who make less than $10.10 does not hold tight. And, if raising the minimum wage affects inflation, the inflation might not be limited to industries paying less than $10.10.
Now, for those who have a deeper interest in the effects of raising the minimum wage, I offer a YouTube link:
http://www.youtube.com/watch?v=2zisxWMu34k&feature=youtu.be
http://www.bankruptingamerica.org/what-happens-when-you-raise-the-minimum-wage/#.Uu3CGo2siSp
http://www.dol.gov/whd/minwage/chart.htm
No comments:
Post a Comment